Notes to Accounts of Thakral Services (India) Ltd.

Mar 31, 2025

k) Provisions:

Provisions are recognised when there is a present legal or constructive obligation that can be estimated
reliably, as a result of a past event, when it is probable that an outflow⁷ of resources embodying economic
benefits will be required to settle the obligation and a reliable estimate can be made of the amount of the
obligation. Provisions are not recognised for future operating losses.

Any reimbursement that the Company can be virtually certain to collect from a third party w ith respect to the
obligation is recognised as a separate asset. However, this asset may not exceed the amount of the related
provisions.

Provisions are reviewed at each reporting date and adjusted to reflect the current best estimate. If it is no
longer probable that an outflow of economic resources will be required to settle the obligation, the provisions
are reversed. Where the effect of the time of money is material, provisions are discounted using a current
pre-tax rate that reflects, where appropriate, tire risks specific to the liability. When discounting is used, the
increase in the provisions due to the passage of time is recognised as a finance cost.

l) Contingencies:

Where it is not probable that an inflow⁷ or an outflow⁷ of economic resources will be required, or die amount
cannot be estimated reliably, the asset or the obligation is not recognised in the balance sheet and is disclosed
as a contingent asset or contingent liability, unless the probability of inflow or outflow of economic benefits
is remote. Possible outcomes on obligations/rights, w⁷hose existence will only be confirmed by the occurrence
or non-occurrence of one or more future events, are also disclosed as contingent assets or contingent liabilities
unless the probability of inflow⁷ or outflow of economic benefits is remote.

m) Taxes on Income:

Tax expense comprises of current and deferred tax. Current income tax is measured at the amount expected
to be paid to the tax authorities in accordance w ith the Income Tax Act, 1961. Current tax includes taxes to
be paid on the profit earned during the year and for the prior periods.

Deferred income taxes are provided based on the balance sheet approach considering tire temporary
differences betw een the tax bases of assets and liabilities and their carrying amounts for financial reporting
purposes at the reporting date.

Deferred tax is measured based on the tax rates and the tax laws enacted or substantively enacted at the
balance sheet date. Deferred tax assets are recognised only to the extent that there is reasonable certainty⁷
that sufficient future taxable income w ill be available against which such deferred tax assets can be realized.
In situations where the Company⁷ has unabsorbed depreciation or carry⁷ forw ard tax losses, all deferred tax
assets arc recognised only if it is probable that they can be utilized against future taxable profits.

The carrying amount of deferred tax assets are review ed at each balance sheet date. The Company writes-
off the carrying amount of a deferred tax asset to the extent that it is no longer probable that sufficient future
taxable income will be available against which deferred tax asset can be realized. Any such write-off is
reversed to the extent that it becomes reasonably certain that sufficient future taxable income will be
available.

n) Prior period items:

In case prior period adjustments are material in nature the company prepares the restated hid AS financial
statement as required under Ind AS 8 - "Accounting Policies, Changes in Accounting Estimates and Errors".
In case of immaterial items pertaining to prior periods are shown under respective items in the Statement
of Profit and Loss.

o) Cash and cash equivalents:

Cash and cash equivalents includes cash on hand and at bank, deposits held at call with banks, other short¬
term highly liquid investment with original maturities of three months or less that are readily convertible to
a known amount of cash as are subject to an insignificant risk of changes in value and are held for meeting
short-term cash commitments.

For the Statement of Cash Flows, cash and cash equivalents consists of short term deposits, as defined
above, net of outstanding bank overdraft (if any) as they being considered as integral part ofthe company''s
cash management.

p) Financial instruments:

A financial instrument is any contract that gives rise to a financial asset of one entity and a financial liability
or equity instrument of another entity.

Financial Assets:

A. Initial recognition and measurement:

Financial assets arc recognised when the Company becomes a party to the contractual provisions of
the instrument. Financial assets are recognised initially at fair value plus, in the case of financial assets
not recorded at fair value through profit or loss, transaction costs that are attributable to the acquisition
of the financial asset. Transaction costs of financial assets carried at fair value through profit or loss
are expensed in statement of profit or loss. Purchases or sales of financial assets that require delivery''
of assets within a tune frame established by regulation or convention in the market place (regular way
trades) are recognised on the trade date, i.e., the date that the Company commits to purchase or sell the
asset.

B. Subsequent measurement:

For subsequent measurement, financial assets are classified into follow ing categories:

a. Debt instruments at amortised cost

b. Debt instruments at fair value through profit and loss

c. Equity instruments at fair value through profit and loss

a. Debt Instruments at amortised cost

A "debt instrument’ is measured at the amortised cost if both the follow ing conditions are met:
The asset is held within a business model whose objective is to hold assets for collecting
contractual cash flows, and

Contractual terms of the asset give rise on specified dates to cash flows drat are solely payments
of principal and interest (SPPI) on the principal amount outstanding.

After initial measurement, such financial assets are subsequently measured at amortised cost using
the effective interest rate (EIR) method. Amortised cost is calculated by taking into account any
discount or premium on acquisition and fees or costs that are an integral part of the EIR. The EIR
amortization is included in finance income in the profit or loss. The losses arising from impairment
are recognised in the Statement of Profit and Loss.

b. Debt instrument at fair value through profit and loss (FVTPL):

As per the Ind AS 101 and Ind AS 109 Company is permitted to designate the previously
recognised financial asset at initial recognition irrecoverably at fair value through profit or loss
on the basis of facts and circumstances that exists on the date of transition to Ind AS. Debt
instruments included within the FVTPL category are measured at fair value with all changes
recognized in the Statement of Profit and Loss.

c. Equity Instruments at fair value through profit and loss (FVTPL):

Equity instruments/Mutual funds in the scope of Ind AS 109 are measured at fair value. The
classification is made on initial recognition and is irrevocable. Subsequent changes in the fair values
at each reporting date are recognised in the statement of profit and loss.

C. Derecognition:

A financial asset or where applicable, a part of a financial asset is primarily derecognized when:

a. The rights to receive cash flows from the asset have expired, or

b. The Company has transferred its rights to receive cash flows from the asset or has assumed an obligation to
pay the received cash flows in full without material delay to a third party under a pass-through'' arrangement:
and either (a) the Company has transferred substantially all the risks and rewards of the asset, or (b) the
Company has neither transferred nor retained substantially all the risks and rewards of the asset, but has
transferred control of the asset.

When the Company has transferred its rights to receive cash flows from an asset or has entered into a pass¬
through arrangement, it evaluates if and to what extent it has retained the risks and rewards of ownership.
When it has neither transferred nor retained substantially all of the risks and rewards of the asset, nor
transferred control of the asset the Company continues to recognize the transferred asset to the extent of the
Company’s continuing involvement.

D. Impairment of financial assets:

In accordance with Ind AS 109, the Company applies expected credit loss (ECL) model for measurement and
recognition of impairment loss on the debt instruments, that arc measured at amortised cost e.g., loans, debt
securities, deposits, trade receivables and bank balance.

Expected credit loss is the difference between all contractual cash flows that are due to the company in
accordance with the contract and all the cash flows that the entity expects to receive.

The management uses a provision matrix to determine the impainnent loss on the portfolio of trade and other
receivables. Provision matrix is based on its historically observed expected credit loss rates over the expected
life of the trade receivables and is adjusted for forward looking estimates.

Expected credit loss allowance or reversal recognised during the period is recognised as income or expense,
as the case may be, in the statement of profit and loss. In case of balance sheet it is shown as reduction from
the specific financial asset.

Financial liabilities:

A. Initial recognition and measurement:

At initial recognition, all financial liabilities are recognised at fair value and in the case of loans, borrowings
and payables, net of directly attributable transaction costs.

B. Subsequent measurement:

a. Financial liabilities at fair value through profit or loss:

Financial liabilities at fair value through profit or loss include financial liabilities held for trading and
financial liabilities designated upon initial recognition as at fair value through profit or loss. Gain or losses
on liabilities held for trading are recognised in the statement of profit and loss.

The company doesn’t designate any financial liability'' at fair value through profit or loss.

b. Financial liabilities at amortised cost:

Amortised cost, in case of financial liabilities with maturity more than one year, is calculated by
discounting the future cash flows with effective interest rate. The effective interest rate amortization is
included as finance costs in the statement of profit and loss.

Financial liability'' with maturity’ of less than one year is shown at transaction value.

C. Derecognition:

A financial liability is de-recognised when the obligation under the liability is discharged or cancelled or
expires. The difference between the earn ing amount of a financial liability’ that has been extinguished or
transferred to another part) and the consideration paid, including any non-cash assets transferred or
liabilities assumed, is recognised in statement of profit and loss as other income or finance costs.

q) Segment reporting:

The Company has only one reportable business segment, which is trading of CCTVs and operates in a single
business segment. Accordingly, the amounts appearing in the Ind AS financial statements relate to the
company’s single business segment.

r) Exceptional Items:

Significant gains/losses or expenses incurred arising from external events that is not expected to recur are
disclosed as ‘Exceptional Item’.

29. Fair Value of Financial Instruments:

The management assessed that cash and cash equivalents, trade receivables, trade payables, and other current
assets and liabilities approximate to their earn ing amount largely due to the short-term maturities of these
instruments.

The fair value of the financials assets and liabilities is reported at the amount at which the instrument could be
exchanged in a current transaction between willing parties, other than in a forced or liquidation sale. The
following methods and assumptions were used to estimate the fair values:

a. The fair values of the quoted instruments are based on price quotations at the reporting date. The fair value of
unquoted instruments is based on the Net Asset Value provided by the Management as on the date of reporting.

b. Fair value of Interest free Security deposits are calculated by discounting future cash flows using rates
currently available for debt on similar terms, credit risk and remaining maturities.

Description of significant observable inputs to valuation:

Interest free Security Deposits:

Interest Rate factor has been considered at a rate currently available for debt on similar terms, by the company
for discounting the amount receivable at the time of maturity.

During the previous year, vide resolution dated August 17,2023. the Company invested an amount of 48.86
lakhs in 98% equity shares of M/s.Thakral Innovations Pvt Ltd. having its registered office at Bangalore,
making M/s Thakral Innovations Pvt Ltd. a subsidiary company of the Company. The same was classified
under Current Investments, as the investments in M/s.Thakral Innovations Pvt Ltd. were made with an
intention to sell by way of transfer of all shares held by the company to M/s Thakral Lifestyle Pte Ltd, Upper
Circular Road, # 3-6, The River Walk, Singapore -058416 and the transfer was executed as on December
29,2023 and the Company ceased to be the holding company with effect from December 29, 2023.

However, the Company, under the arrangement of transfer with M/s.Thakral Innovations Pvt Ltd. has agreed
to transfer all ongoing project(s) for execution of the project(s) and in the event order for any new project(s)
is placed by any customer(s) in the name of the Company after the effective date, the Company undertakes
to transfer the project(s) for execution and corresponding proceeds.

Though the business operations are transferred to M/s.Thakral Innovations Pv t Ltd from 1^st Oct 2023,
empanelment w ith few customers are not being transferred due to non-completion of contract period. Hence
the Company has made sales transactions with few customers against the supply of materials and providing
service facilities bv M/s.Thakral Innovations Pvt Ltd as per BTA. This is a conduit transaction hence there
is no additional consideration involved in this transaction.

32. Financial Risk Management objectives and policies:

The company is exposed to financial risks arising from its operations and the use of financial instruments.
The key financial risks include interest rate risk, foreign currency risk, market risk, credit risk and liquidity''
risk. The company’s risk management policies focus on the unpredictability of financial markets and seek
to, where appropriate, minimize potential and guidelines and there has been no change to the company’s
exposure to these financial risks or the manner in which it manages and measures the risks.

The following sections provide the details regarding the Company’s exposure to the financial risks associated
with financial instruments held in the ordinary course of business and the objectives, policies and processes
for the management of these risks.

i.Market Risk:

Market risk is the risk that the fair value or future cash flows of a financial instillment will fluctuate because
of changes in market prices. Market prices comprise three types of risk: currency rate risk, interest rate risk
and other price risks, such as equity'' risk. Financial instruments affected by market risk include loans and
advances, deposits and other equity funds.

a. Interest rate risk:

Interest rate risk is the risk that the fair value or future cash flows of the Company and the Company’s
financial instruments will fluctuate because of changes in market interest rates. The Company’s exposure
to interest rate risk arises primarily from the Company''s long-term debt obligations, advances, cash credit,
security deposits and cash and cash equivalents.

b. Foreign Currency Risk:

Currency risk is the risk that the value of a financial instrument will fluctuate due to changes in foreign
exchange rates. Currency risk arises when transactions are denominated in foreign currencies.

The Company has transactional currency exposures arising from Exports or imports that are denominated in a
currency other than the functional currency. The foreign currencies in which these transactions are
denominated are mainly in US Dollars (S). The Company’s trade receivable and trade payable balances at die
end of the reporting period have similar exposures. The Company does not use any financial derivatives such
as foreign currency forward contracts, foreign currency options or swaps for hedging purposes.

The following table demonstrates the sensitivity'' in the USD to the Indian Rupee with all other variables held
constant. As the Company is not having any foreign receivables or payable, there is no impact on the
company’s profit before tax due to changes in the fair value of monetary'' assets.

ii. Credit risk:

Credit risk is the risk of loss that may arise on outstanding financial instruments w hen a counterparty default
on its obligations. The Company’s exposure to credit risk arises primarily from trade and odier receivables.
For other financial assets (including Retention Money, Earnest Money Deposits, cash and short-term deposit),
the Company minimizes the credit risk by dealing exclusively with high credit rating counterparties. The
Company’s objective is to seek continual revenue growth while minimizing losses incurred due to increased
credit risk exposure. The Company trades only with recognized and creditworthy third parties. It is the
Company’s policy diat all customers who wish to trade on credit terms are subject to credit verification
procedures. In addition. Outstanding customer receivables are regularly monitored.

iii. Liquidity Risk:

The risk that an entity will encounter difficulty in meeting obligations associated w ith financial liabilities that
are settled by delivering cash or another financial asset.

The company ensures that it has sufficient cash on demand to meet expected operational demands, including
the sen icing of financial obligations: this excludes the potential impact of extreme circumstances that cannot
reasonably be predicted.

The primary objective of capital management is to ensure that the company maintains an efficient capital
structure and healthy capital ratios in order to support its business and maximize shareholder’s value. For the
purpose of the Company''s capital management, capital includes issued equity capital, and all other equity
reserves attributable to the equity holders.

The company manages its capital structure and make adjustments to it, in light of changes in economic
conditions its business requirements and the requirements of the financial covenants. The Company monitors
capital using a gearing ratio, which is, debt divided by total Equity''. The Company’s policy is to keep the
gearing ratio at an optimal level to ensure that the debt related covenants are complied with.

Based on the information available with the company there are no Micro, Small and Medium Enterprises,
to which the company owes dues, which are outstanding for more than 45 days as at March 31. 2025.
Further, no interest during the year has been paid or payable under the terms of the MSMED Act, 2006.
Dues to Micro and Small Enterprises have been determined to the extent such parties have been identified
on the basis of information collected by the Company.

37. Leases

Company as a lessor:

The company had given Stock under Cancellable operating lease. The rental income under such operating
lease amounting to Rs. NIL lakhs (March 31, 2024: Rs.50.76 lakhs) is credit to the Statement of Profit
and Loss.

40. Segment Reporting

The Company is engaged only in business of trading of CCTV and accordingly the business activ ity falls within a
single business segment in tenns of Ind AS 108 on Operating Segments.

41. The Company has prepared its Ind AS financial statements by applying the Going concern assumption,
notwithstanding the fact that the Company has accumulated losses of Rs. 1268.16 lakhs as at March 31, 2025 (March
31, 2024: Rs. 1242.44 lakhs). The company has already transferred the business to M/s. Thakral Innovations Pvt Ltd
in the previous year, hence the balance trade receivable pertains to conduit transactions and the amount once received
same will be transferred to Thakral Innovations Pvt Ltd.

The management is of the view that the operations of the company will increase significantly in the subsequent years
that will lead to improved cash flows and long-term sustainability'' and the company is able to recover die trade
receivables.

Tie continuity’ of the operations is dependent on the ability of the Management /Promoters to raise or infuse funds
for meeting its obligations.

44. The disclosure on the following matters required under Schedule 111 as amended, same are not covered
above:

a) The Company has not traded or invested in crypto currency or virtual currency during the financial year.

b) No proceedings have been initiated or are pending against the Company for holding any benami property
under the Benami Transactions (Prohibition) Act. 1988 (45 of 1988) and rules made thereunder.

c) The Company has not been declared willful defaulter by any bank or financial institution or government
or any government authority.

d) The Company has not entered into any scheme of arrangement.

e) No registration and/or satisfaction of charges are pending to be filed with ROC.

f) There are no transactions which are not recorded in the books of account which have been surrendered
or disclosed as income during the year in the tax assessments under the Income Tax Act, 1961.

g) The Company does not have any relationship with struck off companies.

h) The Company does not have any subsidiary, associate or Joint venture. Hence disclosure w.r.t
compliance with number of lay ers prescribed under clause (87) of section 2 of the Act read with
Companies (Restriction on number of layers) Rules, 2017, is not applicable.

45. Corresponding previous year figures have been reclassified / regrouped wherever necessary.

As per our report of even date

For K.S. Rao & Co., For and on behalf of the Board of Directors of

Chartered Accountants THAKRAL SERVICES (INDIA) LIMITED

Finn Registration No. 003109S

Hitesh Kumar P KS Bavva Nirmala Sridhar

Partner DIN: 00234162 DIN: 07076059

Membership No: 233734 Director Managing Director

S Gopalakrishnan Ramesh Chandra Bhavuk

Chief Financial Officer Company Secretary
ACS-22878

Place: Bengaluru Place: Bengaluru

Date: May 28. 2025 Date: May 28, 2025

---

Mar 31, 2024

Rights attached to the Equity Shares

The Company has issued the Equity shares of par value of Rs.3/-. Every equity share holder shall have voting rights in proportion of his share of the paid-up equity capital of the Company. In the event of liquidation of the Company, the assets of the Company will be first distributed to preferential amounts and balance so left will be distributed to equity shareholders in proportion to holding of their equity shares.

The above sensitivity analysis is 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 (projected unit credit method) has been applied as when calculating the defined benefit obligation recognized within the Balance Sheet.

__8 Other Information:_

Present value of defined benefit obfigation:

Present value of the defined benefit obligation is calculated by using Projected Unit Credit method (PUC Method). The Projected Unit Credit Method (sometimes known as the accrued benefit method pro-rated on service or as the benefit/years of service 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. The Projected Unit Credit Method requires an enterprise to attribute benefit to the current period (in order to determine current service cost) and the current and prior periods (in order to determine the present value of defined benefit obligations).

C. Compensated absences amounting to Rs.3.22 lakhs (March 31, 2023: Rs.6.40 lakhs) is recognized as expense __and included in the Note 22 ''Employee benefit expenses''._

30. Fair Value of Financial Instruments:

The management assessed that cash and cash equivalents, trade receivables, trade payables, and other current assets and liabilities approximate to their carrying amount largely due to the short-term maturities of these instruments.

The fair value of the financials assets and liabilities is reported at the amount at which the instrument could be exchanged in a current transaction between willing parties, other than in a forced or liquidation sale. The following methods and assumptions were used to estimate the fair values:

a. The fair values of the quoted instruments are based on price quotations at the reporting date. The fair value of unquoted instruments is based on the Net Asset Value provided by the Management as on the date of reporting.

b. Fair value of Interest free Security deposits are calculated by discounting future cash flows using rates currently available for debt on similar terms, credit risk and remaining maturities.

Description of significant observable inputs to valuation:

- Interest free Security Deposits:

Interest Rate factor has been considered at a rate currently available for debt on similar terms, by the company for discounting the amount receivable at the time of maturity.

During the year, vide resolution dated August 17,2023, the Company invested an amount of 48.86 lakhs in 98% equity shares of Thakral Innovations Private Limited having its registered office at Bangalore, making Thakral Innovations Private Limited a subsidiary company of the Company. The same was classified under Current Investments, as the investments in Thakral Innovations Private Limited were made with an intention to sell by way of transfer of all shares held by the company to Thakral Lifestyle Pte Ltd, Upper Circular Road, # 3-6, The River Walk, Singapore -058416 and the transfer was executed as on December 29,2023 and the Company ceased to be the holding company with effect from December 29, 2023.

However, the Company, under the arrangement of transfer with Thakral Innovations Private Limited, has agreed to transfer all ongoing project(s) for execution of the projects) and in the event order for any new project(s) is placed by any customer(s) in the name of the Company after the effective date, the Company undertakes to transfer the project!s) for execution and corresponding proceeds.

However, the empanelment with few customers are not being transferred due to non-completion of contract period. Hence the Company has made sales transactions with few customers against the supply of materials and providing service facilities by M/s. Thakral Innovations Pvt Ltd as per BTA. This is a conduit transaction hence there is no additional consideration involved in this transaction.

33.Financial Risk Management objectives and policies:

The company is exposed to financial risks arising from its operations and the use of financial instruments. The key financial risks include interest rate risk, foreign currency risk, market risk, credit risk and liquidity risk. The company''s risk management policies focus on the unpredictability of financial markets and seek to, where appropriate, minimize potential and guidelines and there has been no change to the company’s exposure to these financial risks or the manner in which it manages and measures the risks.

The following sections provide the details regarding the Company’s exposure to the financial risks associated with financial instruments held in the ordinary course of business and the objectives, policies and processes for the management of these risks.

i.Market Risk:

Market risk is the risk that the fair value or future cash flows of a financial instrument will fluctuate because of changes in market prices. Market prices comprise three types of risk: currency rate risk, interest rate risk and other price risks, such as equity risk. Financial instruments affected by market risk include loans and advances, deposits and other equity hinds.

a. Interest rate risk

Interest rate risk is the risk that the fair value or future cash flows of the Company and the Company’s financial instruments will fluctuate because of changes in market interest rates. The Company’s exposure to interest rate risk arises primarily from the Company’s long-term debt obligations, advances, cash credit, security deposits and cash and cash equivalents.

b. Foreign Currency Risk:

Currency risk is the risk that the value of a financial instrument will fluctuate due to changes in foreign exchange rates. Currency risk arises when transactions are denominated in foreign currencies.

The Company has transactional currency exposures arising from Exports or imports that are denominated in a currency other than the functional currency. The foreign currencies in which these transactions are denominated are mainly in US Dollars ($). The Company’s trade receivable and trade payable balances at the end of the reporting period have similar exposures. The Company does not use any financial derivatives such as foreign currency forward contracts, foreign currency options or swaps for hedging purposes.

The following table demonstrates the sensitivity in the USD to the Indian Rupee with all other variables held constant. As the Company is not having any foreign receivables or payable, there is no impact on the company’s profit before tax due to changes in the fair value of monetary assets.

ii.Credit risk:

Credit risk is the risk of loss that may arise on outstanding financial instruments when a counterparty default on its obligations. The Company''s exposure to credit risk arises primarily from trade and other receivables. For other financial assets (including Retention Money, Earnest Money Deposits, cash and short-term deposit), the Company minimizes the credit risk by dealing exclusively with high credit rating counterparties. The Company''s objective is to seek continual revenue growth while minimizing losses incurred due to increased credit risk exposure. The Company trades only with recognized and creditworthy third parties. It is the Company''s policy that all customers who wish to trade on credit terms are subject to credit verification procedures. In addition, Outstanding customer receivables are regularly monitored.

ill.Liquidity Risk

The risk that an entity will encounter difficulty in meeting obligations associated with financial liabilities that are settled by delivering cash or another financial asset.

The company ensures that it has sufficient cash on demand to meet expected operational demands, including the servicing of financial obligations; this excludes the potential impact of extreme circumstances that cannot reasonably be predicted.

The table below summarizes the maturity profile of the Company''s financial liabilities based on contractual undiscounted payments which are payable within 12 months.

34.Capital Management:

The primary objective of capital management is to ensure that the company maintains an efficient capital structure and healthy capital ratios in order to support its business and maximize shareholder’s value. For the purpose of the Company''s capital management, capital includes issued equity capital, and all other equity reserves attributable to the equity holders.

The company manages its capital structure and make adjustments to it, in light of changes in economic conditions its business requirements and the requirements of the financial covenants. The Company monitors capital using a gearing ratio, which is, debt divided by total Equity. The Company’s policy is to keep the gearing ratio at an optimal level to ensure that the debt related covenants are complied with.

36. Contingencies and Commitment:
	Particulars		As at March 31, 2024	As at March 2023
	Contingent Liabilities
	A	Appeals filled by the company in respect of Income tax matters	-	-
	B	Appeals filled by the company in respect of indirect Tax matters	-	5.13
	C	Appeals filled by the Company in respect of Provident Fund matters	60.36	-
	C	Corporate guarantee given to related party for getting Additional credit facility from their vendor	-	-
	Commitment
	A	Estimated amount of contracts remaining to be executed on capital accounts and not provided for (net of advances)	-	-

Based on the information available with the company there are no Micro, Small and Medium Enterprises, to which the company owes dues, which are outstanding for more than 45 days as at March 31,2024. Further, no interest during the year has been paid or payable under the terms of the MSMED Act, 2006. Dues to Micro and Small Enterprises have been determined to the extent such parties have been identified on the basis of information collected by the Company.

38. Leases

Company as a Lessee:

The Company leases assets consists of leases for Building. The Company assesses whether a contract contains a lease, at inception of a contract. A contract is, or contains, a lease if the contract conveys the right to control the use of an identified asset for a period of time in exchange for consideration.

b) Nature of Obligation

The company gives warranties for its products, undertaking to repair or replace the items that fail to perform satisfactorily during the warranty period. The provision made as at March 31, 2023 represents the amount of expected cost of meeting such obligations on account of rectification / replacement. The timing of outflow is expected to be within a period of one year from the end of the reporting period.

The company generally offers 12 months warranties for its products. Management estimates the related provision for future warranty claims based on historical warranty claim information as well as recent trends that might suggest that past cost information may differ from future claims.

However the provision as on March 31,2024 is Nil as the same has been transferred to Thakral Innovations Private Limited.

Segment Reporting

The Company is engaged only in business of trading of CCTV and accordingly the business activity falls within a single business segment in terms of Ind AS 108 on Operating Segments.

42. The Company has prepared its Ind AS financial statements by applying the Going concern assumption, notwithstanding the fact that the Company has accumulated losses of Rs. 1242.44 lakhs as at March 31, 2024 (March 31, 2023: Rs.884.47 lakhs). Further, the company has significant trade receivables amounting to Rs. 385.76 lakhs (Net of Loss Allowance) outstanding for a period of less than six months. The company has already transferred the business to M/s. Thakral Innovations Pvt Ltd, hence this balance this trade receivable pertains to conduit transactions and the amount once received same will be transferred to Thakral Innovations Pvt Ltd.

The management is of the view that the operations of the company will increase significantly in the subsequent years that will lead to improved cash flows and long-term sustainability and the company is able to recover the trade receivables

The continuity of the operations is dependent on the recovery of overdue trade receivables and other dues and the ability of the Management /Promoters to raise or infuse funds for meeting its obligations.

45. The disclosure on the following matters required under Schedule III as amended, same are not covered above:

a) The Company has not traded or invested in crypto currency or virtual currency during the financial year.

b) No proceedings have been initiated or are pending against the Company for holding any benami property under the Benami Transactions (Prohibition) Act, 1988 (45 of 1988) and rules made thereunder.

c) The Company has not been declared willful defaulter by any bank or financial institution or government or any government authority.

d) The Company has not entered into any scheme of arrangement.

e) No registration and/or satisfaction of charges are pending to be filed with ROC.

f) There are no transactions which are not recorded in the books of account which have been surrendered or disclosed as income during the year in the tax assessments under the Income Tax Act, 1961.

g) The Company does not have any relationship with struck off companies.

h) The Company does not have any subsidiary, associate or Joint venture. Hence disclosure w.r.t compliance with number of layers prescribed under clause (87) of section 2 of the Act read with Companies (Restriction on number of layers) Rules, 2017, is not applicable.

46. Corresponding previous year figures have been reclassified / regrouped wherever necessary.

---

Mar 31, 2015

1. Company Overview:

Thakral Services (India) Limited ('the Company') was incorporated on 25th January, 1983 as private limited company with its registered office at Bangalore, originally with the name Parvidhgaar Leasing Pvt. Ltd. On 18th November, 1985, it was converted in to a Limited Company and was renamed as Parvidhgaar Leasing & Finance Limited. To broaden the business activities, its name was further changed to Primeast Investments Limited on 16th November, 1994. Presently the Company is engaged in the business of CCTV Sales and related service activities and during the year 2011-12 the company has commenced its business in the field of Photo Voltaic Modules.

2.Share Capital

a) Terms/ rights attached to equity shares

The Company has issued the Equity shares of par value of Rs.3/-. Every equity share holder shall have voting rights in proportion of his share of the paid up equity capital of the Company. In the event of liquidation of the Company, the assets of the Company will be first distributed to preferential amounts and balance so left will be distributed to equity shareholders in proportion to holding of their equity shares.

3. Micro, Small and Medium Enterprises Development Act, 2006(MSMED Act)

Based on the information available with the company, there are no Micro, Small and Medium enterprises, to which the company owes, which are outstanding for more than 45 days as at 31st March, 2015. Further, no interest during the year has been paid or payable under the terms of the MSMED Act, 2006.

4. Related Party Disclosure a) List of Related Party and Relationship:

Related Party Relationship

A. Enterprises where directors have Associates significant influence:

M/s. Westminster Developments Pvt. Ltd.

M/s. Normandy Developments Pvt. Ltd.

M/s. Minnow Trading Company Pvt. Ltd.

M/s. Glade Trading Company Pvt. Ltd.

M/s. Thakral Computers Pvt. Ltd.

M/s. Thakral one Solutions Pvt. Ltd.

M/s. Future World (India) Pvt. Ltd.

M/s Netizen Properties Pvt. Ltd.

M/s. Future World Retail Pvt. Ltd.,

B. Key Management Personnel

Mr. R.C. Bhavuk Managing Director

C. Relative of Key Management Personnel:

Mrs Beena Sharma Wife of Mr. R.C. Bhavuk

5. The company had given Stock under Cancellable operating lease. The rental income under such operating lease during the year is Rs.90, 26,977.

6.

a. During the year, the company has not entered into any formal hedging policy to hedge its exposure in foreign currency and interest rate (if any). Hence, the outstanding derivative instruments as on March 31, 2015 is NIL (March 31, 2014 - NIL)

7. Contingent Liabilities

Particulars 2014-15 2013-14

1. Corporate guarantee given to related party for getting Additional credit 1,00,00,000 1,00,00,000 facility from their vendor.

Total 1,00,00,000 1,00,00,000

8. The Company is engaged in CCTV and Solar Photo voltaic modules Sales and related service activities, the turnover from Solar Photo Voltaic modes is not meeting the requirement criteria for reporting as a separate segment as per the guidelines provided in Accounting standard 17- Segment reporting, notified under Section 133 of the Companies Act, 2013. Hence the reporting requirement under AS 17 does not arise.

9. Previous year's figures are regrouped and rearranged wherever necessary for comparison purposes.

---

Mar 31, 2014

1. Company Overview:

Thakral Services (India) Limited (''the Company'') was incorporated on 25th January, 1983 as private limited company with its registered office at Bangalore, originally with the name Parvidhgaar Leasing Pvt. Ltd. On 18th November, 1985, it was converted in to a Limited Company and was renamed as Parvidhgaar Leasing & Finance Limited. To broaden the business activities, its name was further changed to Primeast Investments Limited on 16th November, 1994. Presently the Company is engaged in the business of CCTV Sales and related service activities and during the year 2011-12 the company has commenced its business in the field of Photo Voltaic Modules.

2. Micro, Small and Medium Enterprises Development Act, 2006 (MSMED Act)

Based on the information available with the company, there are no Micro, Small and Medium enterprises, to which the company owes, which are outstanding for more than 45 days as at 31st March, 2014. Further, no interest during the year has been paid or payable under the terms of the MSMED Act, 2006.

3. Contingent Liabilities

Particulars As at March 31, 2014 As at March 31, 2014

1. Corporate guarantee given to related party for getting Additional credit facility from their vendor 1,00,00,000 NIL

Total 1,00,00,000 NIL

4. Segment Reporting:

The Company is engaged in CCTV and Solar Photo voltaic modules Sales and related service activities, the turnover from Solar Photo Voltaic modes is not meeting the requirement criteria for reporting as a separate segment as per the guidelines provided in Accounting standard 17- Segment reporting, notified under Section 211 (3C) of the Companies Act, 1956. Hence the reporting requirement under AS 17 does not arise.

5. These financial statements have been prepared in the format prescribed by the Revised Schedule VI to the Companies Act, 1956. Previous period figures have been recast/restated to conform to the classification of the current year.

---

Mar 31, 2013

I. Company Overview:

Thakral Services (India) Limited (''the Company'') was incorporated on 25th January, 1983 as private limited company with its registered office at Bangalore, originally with the name Parvidhgaar Leasing Pvt. Ltd. On 18th November, 1985, it was converted in to a Limited Company and was renamed as Parvidhgaar Leasing & Finance Limited. To broaden the business activities, its name was further changed to Primeast Investments Limited on 16th November, 1994. Presently the Company is engaged in the business of CCTV Sales and related service activities and during the year 2011 -12 the company has commenced its business in the field of Photo Voltaic Modules.

1. The Board of Directors of the Company at the meeting held on August 27,2010 have approved the Reduction of Share Capital as per provision of section 100 to 104 of Companies Act, to reduce the share capital of the company from 11,73,50,800/- divided into 1,17,35,080 equity shares of Rs 10/- each to Rs 3,52,05,240/- divided into 1,17,35,080 equity shares of Rs. 3/- each, subject to approval of the Shareholders by way special resolution and confirmation of Hon''ble High Court of Karnataka. The Shareholders of the Company at the Annual General Meeting held on September 30,2010 have resolved by passing Special resolution in accordance with Section 189 to give effect to the resolution passed by Board of Directors. The Capital Reduction was filed with the Honorable High Court of Karnataka on February 4, 2011 and no shareholder or creditor has opposed for reduction of share capital. The Hon''ble High Court has confirmed the Capital reduction and passed the order on March 31, 2011. The certified true copy of Order was received by the Company on April 23, 2011. Subsequently, the Company has filed Form No.21with ROC on April 27, 2011 and ROC has registered the alteration of Shares on May 10,2011. Effect in this regard has been given in the books of accounts for the year ended 31st March, 2012.

2. Micro, Small and Medium Enterprises Development Act, 2006(MSM£D Act)

Based on the information available with the company, there are no Micro, Small and Medium enterprises, to which the company owes, which are outstanding for more than 45 days as at 31st March, 2013. Further, no interest during the year has been paid or payable under the terms of the MSMED Act, 2006.

3. The Company is engaged in CCTV Sales and related service activities, during the year the Company has commenced the business in photo voltaic modules, however the turnover from the new segment i.e. photo voltaic modules is not meeting the requirement criteria for reporting as a separate segment as per the guidelines provided in Accounting standard 17- Segment reporting, notified under Section 211 (3C) of the Companies Act, 1956. Hence the reporting requirement under AS 17 does not arise.

4. Previous year''s figures are regrouped and rearranged wherever necessary for comparison purposes.

---

Mar 31, 2012

1. Company Overview:

Thakral Services (India) Limited ('die Company') was incorporated on 25th January, 1983 as private limited company with its registered office at Bangalore, originally with the name Parvidhgaar Leasing Pvt. Ltd. On 18th November, 1985, it was converted in to a Limited Company and was renamed as Parvidhgaar Leasing & Finance Limited. To broaden the business activities, its name was further changed to Primeast Investments Limited on 16th November, 1994. Presently the Company is engaged in the business of CCTV Sales and related service activities and during the year 2011-12 the company has commenced its business in the field of Photo Voltaic Modules.

2.Share Capital

a) Terms/rights attached to equity shares

The Company has issued the Equity shares of par value of Rs. 3/-. Every equity share holder shall have voting rights in proportion of his share of the paid up equity capital of the Company. In the event of liquidation of the Company, the assets of the Company will be first distributed to preferential amounts and balance so left will be distributed to equity shareholders in proportion to holding of their equity shares.

3. Contingent Liabilities not provided for;

Bank Guarantee outstanding in respect of performance and financial obligations, Rs. 45,85,195/- (March 31,2011 - Rs. 51,54,620).

4. The Board of Directors of the Company at the meeting held on August 27, 2010 have approved the Reduction of Share Capital as per provision of section 100 to 104 of Companies Act, to reduce the share capital of the company from 11,73,50,800/- divided into 1,17,35,080 equity shares of Rs. 10/- each to Rs 3,52,05,240/- divided into 1,17,35,080 equity shares of Rs. 3/- each, subject to approval of the Shareholders by way special resolution and confirmation of Hon'ble High Court of Karnataka. The Shareholders of the Company at the Annual General Meeting held on September 30, 2010 have resolved by passing Special resolution in accordance with Section 189 to give effect to the resolution passed by Board of Directors. The Capital Reduction was filed with the Honorable High Court of Karnataka on February 4,201 land no shareholder or creditor has opposed for reduction of share capital. The Hon'ble High Court has confirmed the Capital reduction and passed the order on March 31, 2011. The certified true copy of Order was received by the Company on April 23, 2011. Subsequently, the Company has filed Form No. 21 with ROC on April 27, 2011 and ROC has registered the alteration of Shares on May 10, 2011. Effect in this regard has been given in the books of accounts for the year ended 31st March, 2012.

5. Micro, Small and Medium Enterprises Development Act, 2006 (MSMED Act)

Based on the information available with the company, there are no Micro, Small and Medium enterprises, to which the company owes dues, which are outstanding for more than 45 days as at 31st March, 2012. Further, no interest during the year has been paid or payable under the terms of the MSMED Act, 2006.

6. Related Party Disclosure

a) List of Related Party and Relationship

Related Party Relationship

A. Enterprises where directors have significant influence:

M/s. Westminster Developments Pvt. Ltd.

M/s. Normandy Developments Pvt. Ltd.

M/s. Minnow Trading Company Pvt. Ltd.

M/s. Glade Trading Company Pvt. Ltd.

M/s. Thakral Computers Pvt. Ltd.

M/s. Thakral one Solutions Pvt. Ltd.

M/s. Future World (India) Pvt. Ltd.

M/s Netizen Properties Pvt. Ltd.

B. Key Management Personnel

Mr. R.C. Bhavuk Managing Director

C. Relative of Key Management Personnel:

Mrs. Beena Sharma Wife of Mr. RC. Bhavuk

7. The Company is engaged in CCTV Sales and related service activities, during the year the Company has commenced the business in photo voltaic modules, however the turnover from the new segment i.e. photo voltaic modules is not meeting the requirement criteria for reporting as a separate segment as per die guidelines provided in Accounting standard 17- Segment reporting, notified under Section 211 (3C) of the Companies Act, 1956. Hence the reporting requirement under AS 17 does not arise.

8. Previous year's figures are regrouped and rearranged wherever necessary for comparison purposes.

---

Mar 31, 2011

1. Contingent Liabilities not provided for

Bank Guarantee outstanding in respect of customs and others Rs. 51,54,620/- (March 31, 2010 - Rs.4,85,097).

2. The Board of Directors of the Company at the meeting held on August 27, 2010 have approved the Reduction of Share Capital as per provision of section 100 to 104 of Companies Act, to reduce the share capital of the company from 11,73,50,800/- divided into 1,17,35,080 equity shares of Rs 10/- each to Rs 3,52,05,240/- divided into 1,17,35,080 equity shares of Rs. 3/- each, subject to approval of the Shareholders by way special resolution and confirmation of Hon'ble High Court of Karnataka. The Shareholders of the Company at the Annual General Meeting held on September 30, 2010 have resolved by passing Special resolution in accordance with Section 189 to give effect to the resolution passed by Board of Directors. The Capital Reduction was filed with the Honorable High Court of Karnataka on February 4, 2011 and no shareholder or creditor has opposed for reduction of share capital. The Hon'ble High Court has confirmed the Capital reduction and passed the order on March 31, 2011. The certified true copy of Order was received by the Company on April 23, 2011. Subsequently, the Company has filed Form No.21with ROC on April 27, 2011 and ROC has registered the alteration of Shares on May 10, 2011. Effect of this was not given in the books of accounts for the year ended 31 st March, 2011.

3. Secured Loans

Working Capital loan sanctioned by Commercial Bank are Secured by way of hypothecation of the stocks and book debts, Equitable Mortgage of commercial bearing property Khata no:48/24, PID No: 81 -6-48/24 situated in the eight floor, (Rear Block) of the building known as the 'THE ESTATE" No: 48, Dickenson Road, Bengaluru- 560042, standing in the name of M/s Thakral Computers Pvt Limited.

4. Micro, Small and Medium Enterprises Development Act, 2006(MSMED Act)

The details of amounts outstanding to Micro, Small and Medium Enterprises under the Micro, Small and Medium Enterprises Development Act, 2006 (MSMED Act), based on the available information with the Company are as under:

5. Related party Disclosure:

a) List of Related Party and Relationship:

Related Party Relationship

A Enterprises where directors have significant influence:

M/s. Westminster Developments Pvt. Ltd.

M/s. Normandy Developments Pvt. Ltd.

M/s. Minnow Trading Company Pvt. Ltd.

M/s. Glade Trading Company Pvt. Ltd.

M/s. Thakral Computers Pvt. Ltd.

M/s. Raffles Solutions Pvt. Ltd.

M/s. Future World (India) Pvt. Ltd.

M/s Netizen Properties Pvt Ltd

B. Key Management Personnel Managing Director

Mr. R.C. Bhavuk

C. Relative of Key Management Wife of Mr. R.C. Bhavuk Personnel Mrs. Beena Sharma

6. The Company is engaged in CCTV Sales and related service activities, which in the context of Accounting standard 17- Segment reporting, notified under Section 211 (3C) of the Companies Act, 1956 is considered as single business segment. Hence, reporting under the requirements of the said standard does not arise.

7. Figures for the previous year have been re-grouped necessary for comparison purposes.

---

Mar 31, 2010

1. Contingent Liabilities not provided for:

Bank Guarantee outstanding in respect of customs and others Rs. 485,097 (March 31, 2009 - Rs.2,68,911)

2. RELATED PARTY DISCLOSURES:

a) List of Related Party and Relationship:

RELATED PARTY RELATIONSHIP

A.Enterprises where directors have significant influence:

M/s. Westminster Developments Pvt.Ltd.

M/s. Normandy Developments Pvt. Ltd.

M/s. Minnow Trading Company Pvt. Ltd.

M/s. Glade Trading Company Pvt. Ltd.

M/s. Thakral Computers Pvt. Ltd.

M/s. Raffles Solutions Pvt. Ltd.

M/s. Future World (fhdia) Pvt. Ltd.

B.Key Management Personnel

Mr. R.C. Bhavuk Managing Director

C.Relative of Key Management Personnel: Wife of Mr. R.C. Bhavuk

Mrs.Beena Sharma

3. The Company is engaged in CCTV Sales and related service activities, which in the context of Accounting standard 17 segment reporting, notified under section 211 (3c) of the companies act 1956 is considered as single business segment. Hence reporting under the requirements of the said standard does notarise.

4. Deferred Tax Asset has not been recognized in the books of account in view of the virtual certainity vide Para 17 ofAS-22

5. Micro, Small and Medium Enterprises Development Act, 2006(MSMED Act)

Based on the information available with the Company, there are no Micro, Small and Medium Enterprises, to whom the Company owes dues, which are outstanding for more than 45 days as at 31" March, 2010. Further, no interest during the year has been paid or payable under the terms of the MSMED Act, 2006.

6. Figures for the previous year have been re-grouped-wherever necessary for comparison purposes. Per our Report annexed