Notes to Accounts of VVIP Infratech Ltd.

Mar 31, 2025

16. Provisions, Contingent Liabilities and Contingent Assets:- (As-29)

Provisions are recognized only when there is a present obligation as a result of past events and when
a reliable estimate of the amount of the obligation can be made.

Contingent Liabilities is disclosed in Notes to the account for:-

(i) Possible obligations which will be confirmed only by future events not wholly within the control of
the company or

(ii) Present Obligations arising from past events where it is not probable that an outflow of resources
will be required to settle the obligation or a reliable estimate of the amount of the obligation
cannot be made.

(iii) Bank Guarantee .

Refer Note No 29 of Standalone Financial Statement .

Contingent assets are not recognized in the financial statement since this may result in the
recognition of the income that may never be realized.

General:

Except wherever stated, accounting policies are consistent with the generally accepted accounting
principles and have been consistently applied.

(B) Notes on Financial Statements

1. The details of the parties in the Form of MSME and Non MSME have been provided by the
Management. Further the management has also confirmed that during the period No Company has
been Stuck Off, from which the Company had done any transactions.

2. Previous years; figures have been regrouped/ recast to make them comparable with the current
period figures.

3. The title deeds of immovable properties are held in the name of Company and the company has not
revalued any of its Property, Plant and Equipment and intangible assets during the period.

4. No proceedings have been initiated / or are pending, during the year against the company as at 31^st
March, 2025 for holding any benami property under the Benami Transactions (Prohibition) Act,1988
and rules thereon.

5. The company has not defaulted in the repayment of loans or in the payment of interest to their
lenders.

6. The company is having two layer of companies as defined under Companies (Restriction on Number
of Layers) Rules, 2017.

7. The Company has not done any arrangements as per section 230 to 237 of the Companies Act, 2013.

8. The Company does not deal in Crypto Currencies during the period.

9. The Company has working capital limit and is required to submit statements with banks and other
financial institutions and as told and certified by the management of the company that all the
statements submitted by the company are in agreement with the books of account.

10. There was no transaction that has been surrendered or disclosed as income during the period in tax
assessments under the Income Tax Act.

11. Balances of Unsecured Loans and Mobilization Advances, Other Long Term Liabilities, Long Term
Provisons, Trade Payables, Other Current Liabilities, Non Current Investments, Other Non Current
Assets, Trade Receivables, Short Term Loans & Advances and Other Current Assets, Purchases as
well as Gross Turnover have been taken at their book value and are subject to confirmation and
reconciliation. Further share of Profit / Loss from Partnership Firm - KIPL VVIP - JV and KVS - JV
has not been accounted for as said balance sheets has not been finalized till date as told by the
management of the company.

12. The Company has netted off the certain amount payable with the Security Deposit /Withheld
Money/Retention Money recoverable.

14. As certified by the Directors all amounts in the Balance Sheet relating to Sundry Creditors,
Unsecured Loans, Deposits, Loans and advances are shown at net realizable value or net payable as
the case may be.

15. As certified by Company that it has received written representation from all the Directors, That
Companies in which they are Directors had not defaulted in terms of section 164 (2) of the
Companies Act, 2013, and that representation of Directors taken in Board that None of the Director
is disqualified from being appointed as Director of the Company.

16. GST search was conducted during the year 2018-19 against which certain amount was deposited by
the company, which was deducted from the parties from whom purchases were made. However
final GST liability has not been ascertained till date as told by the management of the Company.

17. All assets and liabilities are presented as Current or Non-current as per criteria set out in Revised
Schedule VI to the Company''s Act, 1956 Notified by the Ministry of Corporate affairs vide Notification
No. SO447(E) Dated 28th Feburary,2011 and SO653(E) Dated 30th March,2011. Based on the nature of
operation of the company and realization from the trade receivable, the company has ascertained
its operating cycle of less than 12 months. Accordingly 12 months period has been considered for
the purpose of Current /Non-current classification of assets & liabilities.

In terms of Our Separate Audit Report of Even Date Attached.

(Praveen Tyagl) (Valbhav Tyagl) For Rishi Kapoor & Company

Chairman & Director Managing Director Chartered Accountants

Dm ^: 00834200 Din : 01797558 FR.N_o: 006615C

(Kanchan Aggarwal) (Prashant Wahi)

^{Company Secretary CFO} (Rishi Kapoor)

M.No. ACS-70481 PAN :AAWPW2919G

Partner
M.No. : 075483

Place: Ghaziabad

Date :26/05/2025

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Mar 31, 2024

1. The timing differences have been computed based on the items considered in final / provisional return of income filed/to be filed for the tax year ending immediately after the respective accounting year as the accounting year followed is different from the tax year.

? Statutory tax rate includes aDDlicable surcharge, education cess and higher education cess of the year concerned.

ANNEXURE 36: SEGMENT INFORMATION

The Company is engaged in the business of construction of Infrastructure Projects , primarily, Sewer, Sewer Treatment plants, Water Tanks, Water treatment plants, Road sector development, Electrification Development and its Transmission and Distribution Infrastructure and Building Construction Work.Based on similarity of activities, risk and reward structure, organisation structure and internal reporting system , the company has structured its operations into single operating segment and hence there is no reportable segment as per AS-17 "Segment Reporting".

ANNEXURE 37: CONTINGENT LIABILITIES				in Lakhs)
Particulars	As at
	March 31,2024	March 31,2023	March 31,2022	March 31,2021
A) Disputed claims/levies in respect of Sales
- Reversal of input tax credit	-	-	-	_
- Regular Assessment Order passed	-	-	-	-
B) Disputed claims/levies in respect of Excise
- Availability of input credit	-	-	-	-
- Excise demand on excess / shortages	-	-	-	-
- Penalty	-	-	-	-
C) Disputed claims/levies in respect of	_	_
Income Tax
D) Others- Bank Guarantees	4230.53	2993.14	1888.41	2449.71
Total	4230.53	2993.14	1888.41	2449.71

Gratuity & Leave Encashment - The Present value of obligation is determined based on actuarial valuation using the Projected Unit Credit Method. This method considers each period of service as giving rise to an additional unit of benefit entitlement and measures each unit separately to build up the final obligation.

Interest cost: It is the increase in the Plan liability over the accounting period resulting from the operation of the actuarial assumption of the interest rate.

Current Service Cost: is the discounted present value of die benefits from the Plan''s benefit formula attributable to die services rendered by employees during the accounting period.

Actuarial Gain or Loss: occurs when the experience of the Plan differs from that anticipated from the actuarial assumptions.

It could also occur due to changes made in the actuarial assumptions.

The above sensitivity analysis are based on a change in an assumption while holding all other assumptions constant. In practice, this is unlikely to occur, and changes in some of the assumptions may be correlated. When calculating the sensitivity of the defined benefit obligation to significant actuarial assumptions the same method i.e. projected unit credit method has been applied as that used for calculating the defined benefit liability recognised in tire balance sheet.

Defined benefit liability and employer contributions

The weighted average duration of the defined benefit obligation is 8 years (March 31, 2023 :7 years,March 31,2022: 8 years and March 31.2021: 8 years).

(1) The discount rate indicated above reflects the estimated timimg and currency of benefit payments. It is based on the yield/rates available on applivable bonds as on the current valuation date.

(2) The Salary growth indicated above is the Company''s best estimate of a increase in salary of the employees in future years,determined considering the general trend in inflation, seniority, promotions , past experience and other relevant factors such as demand and supply in employment market.

The above sensitivity analysis are based on a change in an assumption while holding all other assumptions constant. In practice, this is unlikely to occur, and changes in some of the assumptions may be correlated. When calculating the sensitivity of the defined benefit obligation to significant actuarial assumptions the same method i.e. projected unit credit method has been applied as that used for calculating the defined benefit liability recognised in the balance sheet.

Annexure No : 41 OTHER DISCLOSURES

(i) The title deeds of immovable properties are held in the name of Company.

(ii) The Company has not revalued its Property, Plant and Equipment during the reporting years.

(iii) Loans and Advances granted to Promoters, Directors, KMP and Related Parties: The

Company has made investments in but not provided any guarantee and or security or granted loans or advances during the period in the nature of loans, secured or unsecured, to companies, firms, Limited Liability Partnerships or any other parties.

(iv) There are no proceedings initiated or pending against the Company for holding any benarni property under the Benami Transactions (Prohibition) Act, 1988 (45 of 1988).

(v) The Company has working capital limit and is required to submit statements with banks and other financial institutions and as told and certified by tire management of the company that all the statements submitted by the company are in agreement with the books of account.

(vi) The Company is not declared as wilful defaulter by any bank or financial institution or other lender.

(vii) The Company has not entered into any transactions with companies struck off under section 248 of the Companies Act, 2013.

(viii) The Company do not have any charge to be registered with Registrar of Companies beyond the statutory period.

(ix) The Company has subsidiary with one layers prescribed under clause (87) of section 2 of the Act read with Companies (Restriction on number of Layers) Rules, 2017.

(x) No Scheme of Arrangements has been approved by the Competent Authority in terms of sections 230 to 237 of the Companies Act, 2013.

(xi) (a) The Company has not advanced or loaned or invested any funds (either from borrowed funds or share premium or any other sources or kind of Funds) or in any other persons or entities including foreign entities with the understanding whether recorded in writing or otherwise that the intermediary shall, whether directly or indirectly lend or invest in other persons or entities identified in any manner whatsoever by or on behalf of the company or provide any guarantee, security or the like on behalf of the ultimate Beneficiaries.

(b) That no funds have been received by the company from a-rfY persons or entity including foreign entities with the understanding, whether

recorded in writing or otherwise, that the company shall directly''fa indirectly, lend or invest in other persons or entities identified in any manner

whatsoever by or on behalf of the funding Party or provide any guarantee, security or the like on behalf of the Ultimate Beneficiaries.

"O

Short-term borrowings are debts which are due for repayment within 12 months from reporting year ^ ended March 31/2024.

2 Long-term borrowings are considered as borrowing other than short-term borrowing.

The amounts disclosed above are based on the Restated Statement of Assets & Lial^ities as at March

³ 31/ 2024.