Notes to Accounts of VSD Confin Ltd.

Mar 31, 2024

(m) Provisions:

Provisions are recognized when the Company has a present obligation (legal or constructive) as a result of a past
event, it is probable that the Company will be required to settle the obligation, and a reliable estimate can be made of
the amount of the obligation.

The amount recognized as a provision is the best estimate of the consideration required to settle the present
obligation at the end of the reporting period, taking into account the risks and uncertainties surrounding the
obligation. When a provision is measured using the cash flows estimated to settle the present obligation, its carrying
amount is the present value of those cash flows.

When some or all of the economic benefits required to settle a provision are expected to be recovered from a third
party, a receivable is recognised as an asset if it is virtually certain that reimbursement will be received and the
amount of the receivable can be measured reliably.

(n) Employee Benefits:

Short term obligations

Liabilities for wages and salaries, including non-monetary benefits that are expected to be settled wholly within 12
months after the end of the period in which the employees render the related service are recognised in respect of
employees'' services up to the end of the reporting period and are measured at the amounts expected to be paid when
the liabilities are settled. The liabilities are presented as current employee benefit obligations in the balance sheet.

(o) Contributed Equity:

Equity shares are classified as equity. Incremental costs directly attributable to the issue of new shares or options are
shown in equity as a deduction, net of tax, from the proceeds.

(p) Earnings per share:

Basic earnings per share

Basic earnings per share is calculated by dividing:

(a) the profit attributable to owners of the Company

(b) by the weighted average number of equity shares outstanding during the financial year, adjusted for
bonus elements in equity shares issued during the year.

(q) Rounding of amounts:

All amounts disclosed in the financial statements and notes have been rounded off to the nearest lacs and decimals
thereof as per the requirements of Schedule III, unless otherwise stated.

(r) Others:

Balance Confirmations in respect of Sundry Creditors, Sundry Debtors and Loans and Advances are awaited. The
balances are therefore as per the books of accounts only.

In the Opinion of Board of Directors, the current assets, loans and advances are approximately of the value stated
above, if realised in the ordinary course of business. The provision for liabilities shown in the Balance Sheet have
adequately been made and are not in excess of the amounts reasonably necessary.

2. Critical estimates and judgements:

The preparation of financial statements requires the use of accounting estimates which, by definition, will seldom
equal the actual results. Management also needs to exercise judgement in applying the Company''s accounting policies.
This note provides an overview of the areas that involved a higher degree of judgement or complexity, and of items
which are more likely to be materially adjusted due to estimates and assumptions turning out to be different than
those originally assessed. Detailed information about each of these estimates and judgements is included in relevant
notes together with information about the basis of calculation for each affected line item in the financial statements.

The areas involving critical estimates or judgements are Estimation of current tax expense and payable and
Estimation of fair value of investment. Estimates and judgements are continually evaluated. They are based on
historical experience and other factors, including expectations of future events that may have a financial impact on the
company and that are believed to be reasonable under the circumstances.

Note 23 - Contingent Liabilities:

No provision has been made for the Interest on Income Tax charged u/s 234(A), 234(B) and 234(C) of the Income Tax Act,
1961 for the A.Y. 1990-91, 1991-92 and 1992-93 amounting to Rs. 8,31,029.00, Rs. 4,44,025.00 and Rs. 9,46,228.00 for
which the petition of waiver is pending before the Honourable High Court, Allahabad.

Note 24 - Related Party Transactions:

In accordance with the requirement of Ind AS 24 on Related Parties notified under the companies (Indian Accounting
Standards) Rules, 2015, the name of the related Parties where control exists and / or with whom transactions have taken
place during the year and description of relationships, as identified and certified by the Management are:

Note 2l - Expenditure incurred on account of Foreign traveling is NIL [Previous Year NIL].

Note 28 - Loans and Advances, Sundry creditors and balance held in investment in shares are subject to confirmation and
reconciliation.

Note 29 - Other statutory information

i. ) The Company does not have any transactions during the year with companies struck off.

ii. ) The Company does not have any charges or satisfaction which is yet to be registered with ROC beyond the

statutory period.

iii. ) The Company has not traded or invested in Crypto currency or Virtual Currency during the financial year.

iv. ) The company has not advanced or loaned or invested funds to any other person(s) or entity (ies), including

foreign entities (Intermediaries) with the understanding that the intermediary shall:

a) directly or indirectly lend or invest in other persons or entities identified in any manner whatsoever by
or on behalf of the company (Ultimate Beneficiaries) or

b) provide any guarantee, security or the like to or on behalf of the Ultimate Beneficiaries.

v. ) The Company have not received any fund from any person(s) or entity (ies), including foreign entities

(Intermediaries) with the understanding that the intermediaries shall:

a) directly or indirectly lend or invest in other persons or entities identified in any manner whatsoever by
or on behalf of the Funding Party (Ultimate Beneficiaries) or

b) provide any guarantee, security or the like to or on behalf of the Ultimate Beneficiaries.

vi. ) The Company does not have any transaction which is not recorded in the books of account that has been

surrendered or disclosed as income during the year in the tax assessments under Income Tax Act, 1961.

vii. ) The Company is not declared as the wilful defaulter by any bank or financial institution.

viii.) The Company has complied with the restriction on number of layers prescribed under the Companies Act read
with Companies (Restriction on number of Layers ) Rules, 2017.

ix. ) The Company has not entered into any scheme or arrangement in terms of section 230 to section 237 of the

Companies Act 2013.

x. ) The provisions of section 135 relating to Corporate Social Responsibility is not applicable to the Company.

The Company does not have have any immovable property whose title deeds are not held in the name of Company.

For and on behalf of the Board
VSD Confin Limited

For Bakliwal & Co. CIN: L70101UP1984PLC006445

Chartered Accountants
Firm Registration No130381W

Sd/- Sd/- Sd/-

Ashish Bakliwal Ashutosh Sharma Naresh Kumar Rastogi

Partner Managing Director Director & CFO

Membership No. 133823 DIN: 08198684 DIN: 00710087

Sd/-

Priyanka Gangwar

Company Secretary

Place : Mumbai Place : Lucknow

Date : 30-05-2024 Date : 30-05-2024