Notes to Accounts of Marg Techno Projects Ltd.

Mar 31, 2024

N) Provision: . ,. .

A provision is recognized when there exists a present obligation as a result of pas

events and it is probable that an outflow of resources embodying economic bene i will be required to settle the obligation, and a reliable estimate can be made of the amount of the obligation. Provision are discounted, if material to presen value and are determined based on best estimates required to settle the obligation at t reporting date. These estimates are reviewed at each reporting date and adjusted to reflect the current best estimates.

CM Contingent Liabilities!

A contingent liability is a possible obligation that arise from past events whose existence will be confirmed only by the occurrence or non-occurrence of one or more uncertain future events beyond the control of the Company or a present obliganon S“t recognized because it is not probable that an outflow of resources will be required to settle the obligation. A contingent liability also arises in extreme y cases where there is a liability that cannot be recognized because it cannot be measured reliably; the Company does not recognize a contingent liability bu discloses its existence in the financial statements. A contingent asset is nei er recognized nor disclosed in the financial statements.

nl yinanrial instruments

Financial assets and financial liabilities are recognized when company becomes party to the contractual provisions of the instruments. Financial assets and financ liabilities are initially measured at fair value. Transaction costs that are directly attributable to the acquisition or issue of financial assets and financial liabilities (other than financial assets and financial liabilities at fair value through profit or oss) are added to or deducted from the fair value of the financial assets or (inane al liabilities³ as appropriate, on initial recognition. Transaction costs directly attributable to the acquisition of financial assets or financial liabilities at fair value through profit or loss are recognized immediately in profit or loss.

ol Cash and cash equivalent:

Cash and cash equivalents for the purposes of cash flow statement comprise bmk and in hand and short term deposits with bank with an original maturity of

three months or less.

2 In the opinion of the board of director all the current assets, investments loans and advances recoverable in cash or kind are stated at values realisable in the ordinary course of business of the company and all the known liabilities have been provided for and there are no liabilities contingent or otherwise except those which are stated in the account.

3 The company has taken into account the impact of any significant event that occurs after balance sheet date and the date on which the financial statements are approved by the Board of Directors.

4 The company has not identified assets that may have been impaired in respect of each cash generating unit. Hence, no impairment loss has been provided in the books.

5 As per Ind AS 24, the disclosures of transactions with the related parties are given below.

1 °''^eS Deb^ equity end Capital Employeed ratio decreased due tc issue of share warrant

2 Due to increase in current assets and decrese in liabilities

3 Trade Receivable Ratio is not applicable due to auction of the security pledged

durinq the year and amount is still receivable

4 Due to Decrease in Net Profit as compared to previous Year

5 Debt repayment ratio decreses due to decrese in interest in current year

relevant provisions of the Income Tax Act, 1961).

18 The Company do no. have any Benami property, where any proceeding has been initiated or pending against the Company for holding any Benami property.

19 The Company do not have any charges or satisfaction which is yet to be registered with ROC beyond the statutory period.

- ssras¹==?=

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.

otherwise) that the Company 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) o

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

22 The Company has not been declared wilful defaulter by any bank or financial institution or government or any government authonty.

/ (v/\c\

24 The Company has paid an amount of Rs 27.10,086/- during the year 2018-19 towards the seUelmTntof disputed liability. The same is treated as Loans & Advances in the ftnanad statements pending final settlement. The company does not envisaged any liability in this

respect.

25 The Company has made provision on standard assets at the rate of 0 25% of total StandaS Advances and also provided lor substandard assets os per the prov,s.on,ng norms issued by RBI from time to time.

26 The Company has not accepted deposits from the public and hence is not required to have maintained the liquid asset as prescribed by RBI.

27 The management of the company has complied with the all the directions of the RBI applicable to the company from time to time and have not violated any directive by

RBI.

28 The Company has transferred a sum of Rs. 2.77 lacW-(PX Rs. 9.84 lakhsAItc.special reserve a/c being 20% ot net profit for the year as per the provision of section 45IC ol the

RBI Act.

³⁰ otheAhan in the normal and ordinary course of business there are no funds that have been advanced or loaned or invested (either from borrowed funds or share premium« or anv other sources or kind of funds) by the Company to or in any other persons or entities, induding foreign entities ("Intermediaries"), with the understanding, whether recorded in that he Intermediary shall directly or indirectly lend or invert in other persons^ or enTi^sTdenTified in any manner whatsoever ("Ultimate Beneficiaries by or on behalf of the Company; or provide any guarantee, security or the like on behalf of

S^a^^enbeS^ano^e funds that have been received by the Company from any persons or behalf of the Ultimate Beneficiaries.

For and on behalf of the Board of Directors ^ ^ ^ _{Qf 0Ven dQfe attached}

For Haribhakti 8. Co Chartered Accountants

Firm Reg. No. 0118013W

Akhil Nair Defepa Nair I Jjj

Managing Director Independent Director f .1

DIN: 07706503 DIN: 09291891 CA Mayor D Amip

AC yS, Partner

1) ^ Membership No. 111697

Bhuwan Ranjan Divya Shah UDIN:

_CFO Company Secretary

M. No. : A39586

* Place: Surat

Sa.e^e3«4 W ^{: 30/05/2024}

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Mar 31, 2023

Tier i Capital: is the of a bank''s financial strength from .* regulator s poim of view It is composed of core capital, which consists primarily oi common stin-k and disclosed reserves, but oinv »dso include nun^-redeemable nnn-cmmiiative preferred stock.

Tier 2 Capital: represents "supplementary capital" such a^ undisclosed reserves, revaluation reserves, general loan’loss reserves hybrid \_t[etn equity i capital instrument*, and subordinated debi of (tie financial

tnatii uium

20, The current assets reflected in the Balance Sheet are. in the opinion of the board of directors, approximately of the value realisable m the ordinary'' course of business.

21 The company had taken an unsecured loan from M/s. Diamond Jubilee Coop. Rank Ltd several years ago and was written off in the year 2016-17 considering that the same no longer payable (outstanding balance of Rs.4,38,53,968.33/-). The company was also not providing for interest on the same since last several years. Thr bank is in the process of liquidation since long period and in the opinion of the management the amount being unsecured in the nature, the same is no longer payable. Investments in the shares of Diamond Jubilee Co-op Bank Ltd was credited to unsecured loan account as the same was invested as linking shares. Dunng the year 2018-!9 the Company has paid an amount of R$ 27,10.086/- to M/s Diamond Jubilee Co. Op Bank Ltd which has been reflected as loans and Advances pending final settlement.

22. The contingent liabilities not provided for is of Rs. Nil (P Y. Rs Nil)

23. The Company has made provision on standard assets at the rate of 0 25% of total Standard Advances and also provided for substandard assets as per the provisioning norms issued by RBI from time to time.

24. The Company has not accepted deposits from the public and hence is not required to have maintained the liquid asset as prescribed by RBI

2 None of the employees of the Company have completed the minimum period of employment with the Company to be eligible for Gratuity. In absence of the same no provision for Gratuity has been made.

26 The Company is required lo comply with the provisions or the Employees Provident Fund Act 1952 and Employee State Insurance Act 1948 since the number of employees employed by the Company have exceeded the minimum no of employees The Company is in ihe process of registration under respective acts and shall discharge its liabilities towards the same on receipt of approvals.

27. The management of the company has complied with the all the directions or

the RBI applicable to the company from time to time and have not violated any directive by the RBI.

28. The Company has transferred a sum of Rs. 9 84 lacks/-(P Y Rs 6.97

lakhs/-) to special reserve a/c being 20% of net profit for the year as per the provision of section 451C of the RBI Act,

30. Net Deferred tax Liability (Net) amounting to Rs 0,46 lakhs (P,V, Rs 5.04 lakhs Deferred Tax Assets) has been provided for the year on timing deference on account of Depreciation, provision for non-performing assets and other timing differences.

36. Others

Other than in the normal and ordinary course of business there are no funds that have been advanced or loaned or invested (either from borrowed funds or share premium or any other sources or kind ol funds) b\ the Com pan v io>^rn-~*inv other persons or entities, including foreign entities (“Intermediaries”), with the understanding, whether recorded in writing or otherwise, that the Intermediary shall directly or indirectly lend or invest in other persons or entities identified in any manner whatsoever (“Ultimate Beneficiaries”} by or on behalf of the Company; or provide any guarantee, security or the like on behalf of the Ultimate Beneficiaries.

There have been no funds that have been received by the Company from any persons or entities, including foreign entities ("Funding Parties"), with the understanding, whether recorded in writing or otherwise, that the Company shall directly or indirectly, lend or invest in other persons or entities identified in any manner whatsoever (“Ultimate Beneficiaries”) by or on behall of the Funding Party or provide any guarantee, security or the like on behalf of the Ultimate Beneficiaries.

37. Relationship with Struck off Companies

The Company has not entered into any transactions with companies struck off under section 248 of the Companies Act, 2013 or section 560 of Companies Act, 1956.

38 Willful Defaulter

The company has not been declared as a willful defaulter by any bank or financial institution or other lender during the year

39. Registration of charges or satisfaction with Registrar of Companies (ROC)

The compan> has registered all tin charges or satisfaction with ROC during the year.