Notes to Accounts of ACI Infocom Ltd.

Mar 31, 2024

i. Provision

A provision is recognized when the company has a present obligation as a result of past event, it is probable
that an outflow 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 discounted to their present
value and are determined based on the best estimate required to settle the obligation at the reporting date.
These estimates are reviewed at each reporting date and adjusted to reflect the current best estimates. Where
the company expects some or all of a provision to be reimbursed, for example under an insurance contract,
the reimbursement is recognized as a separate asset but only when the reimbursement is virtually certain. The
expense relating to any provision is presented in the statement of profit and loss net of any reimbursement.

j. Cash and cash equivalents.

Cash and cash equivalents for the purposes of cash flow statement comprise cash at bank and in hand and
short-term investments with an original maturity of three months or less.

k. Measurement of EBITDA

As permitted by the Guidance Note on the Revised Schedule of the Companies Act, 2013, the company has
elected to present earnings before interest, tax, depreciation and amortization (EBITDA) as a separate line
item on the face of the statement of profit and loss. The company measures EBITDA on the basis of profit /
(loss) from continuing operations. In its measurement, the company does not include depreciation and
amortization expense, finance costs and tax expenses.

Basic EPS amounts are calculated by dividing the profit/(loss) for the period attributable to
equity holders by the weighted average number of equity shares outstanding during the Period.
Diluted EPS amounts are calculated by dividing the profit/(loss) attributable to equity holders by
the weighted average number of equity shares outstanding during the period plus the weighted
average number of equity shares that would be issued on conversion of all the dilutive potential
equity shares into equity shares.

28 Related party transactions

Name of related parties and description of relationship with whom transactions have taken
(A) Related parties where control exists
1. Associates Company

Pujya Guruwar Solar India Pvt Ltd ( Formally known as Prog Dychem Pvt Ltd)

Sanjog Developers

Terms and conditions of transactions with related parties

The transactions with related parties are in the ordinary course of business and are on terms equivalent to those that
prevail in arm''s length transactions. Outstanding balances at the Period-end are unsecured and settlement occurs in
cash. For the period ended 31 March 2024, the Company has not recorded any impairment of receivables relating to
amounts owed by related parties. This assessment is undertaken each financial year through examining the financial
position of the related parties and the market in which the related parties operate.

Note 29: Details of micro enterprises and small enterprises as defined under the Micro, Small and
Medium Enterprises Development (MSMED) Act, 2006:

The Company did not have any transactions with Small Scale Industrial (‘SME''s'') Undertakings during the year ended
March 31, 2024 and hence there are no amounts due to such undertakings. The identification of SME''s undertakings is
based on the management''s knowledge of their status..

The Company has not received any information from "suppliers” regarding their status under the Micro, Small and
Medium Enterprises Development Act, 2006 and hence disclosures, if any, relating to amount unpaid as at the year
ended together with interest paid / payable as required under the said Act have not been furnished..

Note 30:Capital Commitments

There are no capital commitments outstanding as at 31 March 2024.

Note 32: Employee Benefits - Retirement benefits
Defined Contribution Plan:

An entity is not participating in any employer defined benefit plan that does not prepare plan valuations on an Ind AS 19
basis. Company not having employee who served from more than 5 years.

Note 33: Financial instruments - fair value measurements

Some of the Company''s financial assets and financial liabilities are measured at fair value at the end of each reporting
period. The following table gives information about how the fair values of these financial assets and financial liabilities
are determined (in particular the valuation techniques and inputs used).

Fair value hierarchy

All assets and liabilities for which fair value is measured or disclosed in the financial statements are categorised within
the fair value hierarchy, described as follows, based on the lowest level input that is significant to the fair value
measurement as a whole:

Level 1 — Quoted (unadjusted) market prices in active markets for identical assets or liabilities.

Level 2 — Valuation techniques for which the lowest level input that is significant to the fair value measurement is
directly or indirectly observable.

Level 3 — Valuation techniques for which the lowest level input that is significant to the fair value measurement is
unobservable.

The Company has assessed that trade receivables, cash and cash equivalents, other financial assets, trade payables
and other financial liabilities approximate their carrying amounts largely due to the short term nature of the instruments.
Long term Borrowings are evaluated based on parameters such as interest rate and risk characteristic of financial
project. Based on the evaluation, no impact has been identified.

Note 34: Financial risk management objectives and policies

The Company''s principal financial liabilities comprise of borrowings, trade payables, other payables and other financial
liabilities. The main purpose of these financial liabilities is to finance the Company''s operations. The Company''s principal
financial assets include trade and other receivables, other financial assets and cash and cash equivalents that arise
directly from its operations.

The Company''s activities expose it to market risk, liquidity risk, credit risk and interest rate risk.

(A) Market Risk

Market risk is the risk of loss of future earnings, fair values or future cash flows that may result from a change in the price
of a financial instrument. The value of a financial instrument may change as a result of changes in the interest rates,
foreign currency exchange rates, and other market changes that affect market risk sensitive instruments. Market risk is
attributable to all market risk sensitive financial instruments, including investments and deposits, payables and
borrowings.

The Company''s overall risk management focuses on the unpredictability of financial markets and seeks to minimise
potential adverse effects on the financial performance of the Company.

Details relating to the risks are provided here below:

(i) Foreign currency risk

Foreign exchange risk is the risk of impact related to fair value or future cash flows of an exposure in foreign currency,
which fluctuate due to changes in foreign exchange rates. The Company''s exposure to the risk of changes in foreign
exchange rates relates to import of modules, wherever required.

The Company regularly evaluates exchange rate exposure arising from foreign currency transactions. The Company
follows the established risk management policies. It uses derivative instruments like forward covers/swap to hedge
exposure to foreign currency risk.

When a derivative is entered into for the purpose of hedge, the Company negotiates the terms of those derivatives to
match the terms of the foreign currency exposure.

(ii) Interest rate risk

Interest rate risk is the risk that the fair value or future cash flows of a financial instrument will fluctuate because of
changes in prevailing market interest rates. The Company''s exposure to the risk due to changes in interest rates relates
primarily to the Company''s borrowings with floating interest rates. Interest rate sensitivity has been calculated assuming
the borrowings outstanding at the reporting date have been outstanding for the entire reporting period. The Company
constantly monitors the credit markets and revisits its financing strategies to achieve an optimal maturity profile and
financing cost.

(iii) Credit risk

Credit risk arises when a customer or counterparty does not meet its obligations under a customer contract or financial
instrument, leading to a financial loss. The Company is exposed to credit risk from its operating activities primarily trade
receivables and from its financing/investing activities, including deposits with banks and foreign exchange transactions.
The carrying amount of financial assets represents the maximum credit risk exposure.
a. Trade receivables

The Company has already evaluated the credit worthiness of its customers and did not find any credit risk related to
trade receivables. As per simplified approach, the Company makes provision of expected credit losses on trade
receivables using a provision matrix on the basis of its historical credit loss experience to mitigate the risk of default in
payments and makes appropriate provision at each reporting date wherever outstanding is for longer period and involves
higher risk. Total trade receivables as on 31 March 2024 is NIL.

(b) . Cash and cash equivalents and bank deposits

Credit risk on cash and cash equivalents, deposits, is generally low as the Company has transacted with reputed banks.

(c) Liquidity risk

Liquidity risk is defined as the risk that the Company will not be able to settle or meet its obligations on time or at
reasonable price. Prudent liquidity risk management implies maintaining sufficient cash and marketable securities and
the availability of funding through an adequate amount of credit facilities to meet obligations when due. The
management is responsible for managing liquidity, funding as well as settlement. Further the management monitors the
Company''s liquidity position through rolling forecasts on the basis of expected cash flows.

The table below provides details of financial liabilities further, based on contractual undiscounted payments.

(D) Capital management

The Company''s objectives when managing capital are to safeguard the Company''s ability to continue as a going
concern in order to provide maximum returns for shareholders and benefits for other stakeholders and to maintain an
optimal capital structure to reduce the cost of capital.

For the purposes of the Company''s capital management, capital includes issued capital, securities premium and all other
equity reserves attributable to the equity holders.

The Company monitors capital using debt to equity ratio, which is net debt divided by total equity. The Company
includes within net debt, interest bearing loan and borrowings, less cash and cash equivalents, excluding discontinued
operations.

Gearing Ratio-There is no Debts in the company as on 31.03.2024 and 31.03.2023 .Thus ,Gearing Ratio is Nil as on
31.03.2024 and 31.03.2023.

Note: 36 Other statutory information

a) The Company do not have any Benami property, where any proceeding has been initiated or pending against
the Company for holding any Benami property.

b) As per the information and explanations to us The Company do not have any transactions with companies
struck off.

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

d) The Company has not entered into any such transaction which is not recorded in the books of accounts that
has been surrendered or disclosed as income during the Period in the tax assessments under the Income Tax
Act, 1961 (such as, search or survey or any other relevant provisions of the Income Tax Act, 1961)

e) The Company has not been declared wilful defaulter by any bank or financial institution or other lender

f) The Company does not have any Intangible Assets, thus, disclosures relating to revaluation of Intangible
Assets is not applicable.

g) The Company has not revalued its property, Plant and Equipment (including Right of use Assets), thus
valuation by a registered valuer as defined under rule 2 of the Companies (Registered Valuers and Valuation)
Rules, 2017 is not applicable.

h) The Company has not advanced or loaned or invested funds to any other person or entity, including foreign
entities (Intermediaries) with the understanding that the intermediary shall:

(i) 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

(ii) provide any guarantee, security or the like to or on behalf of the ultimate beneficiaries.

i) The Company have not received any fund from any person(s) or entity(ies), including foreign entities (Funding
Party) with the understanding (whether recorded in writing or otherwise) that the company shall:

(i) 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

(ii) provide any guarantee, security or the like on behalf of the ultimate beneficiaries

j) Company has complied with the number of layers prescribed under clause (87) of section 2.

k) Registration of charges or satisfaction with Registrar of Companies: Where any charges or satisfaction yet to
be registered with Registrar of Companies beyond the statutory period, details and reasons thereof shall be
disclosed.

The accompanying notes are an integral part of these standalone financial statements

In terms of our report of even date For and on behalf of the Board of Directors

For Agarwal J ain & Gupta ACI INFOCOM LIMITED

Chartered Accountants
Firm Reg. No. : 013538C

Sarwan Kumar Prajapati Kushal (hand Jain Hemantkumar S.Jain

Partner Managing Director Director

MNo. 199969 DIN-03545081 DIN- 06778764

UDIN:24199969BKAKKT6408

Dilip Kumar Dhariwal Sarika Mehta

Place : Mumbai CFO Company Secretary

Date:28th May 2024

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Mar 31, 2016

1. Terms & Right attached to equity shares

The company has only one class of equity shares having a par value of Rs.1/- per share. Each Holder of equity share is entitled to one vote per share. In the event of liquidation, shareholder will be entitled to receive remaining assets of the company after distribution of all preferential amount. The distribution will be in proportion to the member of equity share held by the share holder.

2. Earnings per share

Basis earning per share are calculated by dividing the net profit or loss for the period attributable to equity shareholder by the weighted average number of equity share outstanding during the period.

For the purpose of calculating diluted earnings per share, the net profit or loss for the period attributable to equity shareholder and the weighted average number of shares outstanding during the period are adjusted for the effects of all dilutive equity shares.

3. Contingent Liability- Demand of Rs 6,27,764 Interest under Custom Act 1962 relating to FY 198485. The matter is pending before competent authority.

4. Balances are relied upon as per books of accounts wherever the confirmations from debtors/creditors/ Loans/Advances are not available.

5. There is no availability of information about the amount dues to small/micro undertaking, we are unable to comment that the interest if any is due to such undertaking or not.

6. As certified by the Management there is no obligation in respect of gratuity and leave encashment during the year.

7. Auditor''s Remuneration including service tax is Rs.85,875/-. (Previous Year Rs.84, 270/-).

Statutory Audit Fees - Rs. 85,875 (Rs. 56,180)

Tax Audit Fees - Nil (Rs. 28,090)

8. The Company is required to appoint a whole time company secretary as per section 383A of the Companies Act, 1956. The Company is in the process of appointment of company secretary.

9. Expenditures & Earning in Foreign Currency- Nil

10. Sundry Balance Written off (net) of Rs. 30,929 Credit (Previous year NIL) include Rs.7299- Debit (Previous year NIL) and Rs. 38,228- Credit (Previous year NIL).

11. Prior period adjustment (Net) amounting to Rs 3867/- (credit) (Previous year NIL)

12. Segment Information-

The Company operates in a single business and geographical segment i.e. “Construction and Allied Activities” within India. Accordingly, no separate disclosures for primary business and secondary geographical segment are required as per AS 17 issued by ICAI

13. Previous year figures have been regrouped and rearranged wherever necessary to confirm with the current year presentation.

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Mar 31, 2015

1. CORPORATE INFORMATION

The Company has incorporated on 21/12/1982 and the company is in to Construction and Allied Activities business.

2.Terms & Right attached to equity shares

The company has only one class of equity shares having a par value of Rs.1/- per share. Each Holder of equity share is entitled to one vote per share. In the event of liquidation, shareholder will be entitled to receive remaining assets of the company after distribution of all preferential amount. The distribution will be in proportion to the member of equity share held by the share holder.

3. Contingent Liability- Demand of Rs 6,27,764 Interest under Custom Act 1962 relating to FY 1984- 85. The matter is pending before competent authority.

4. Balances are relied upon as per books of accounts wherever the confirmations from debtors/creditors/ Loans/Advances are not available

5. There is no availability of information about the amount dues to small/micro undertaking, we are unable to comment that the interest if any is due to such undertaking or not.

6. As certified by the Management there is no obligation in respect of gratuity and leave encashment during the year.

7. Auditor's Remuneration including service tax is Rs.84, 270/-. (Previous Year Rs.84, 270/-).

Statutory Audit Fees - Rs. 56,180 (Rs. 56,180)

Tax Audit Fees - Rs. 28,090 (Rs. 28,090)

8. The Company is required to appoint a whole time company secretary as per section 383A of the Companies Act, 1956. The Company is in the process of appointment of company secretary.

9.Expenditures & Earning in Foreign Currency- Nil

10. Segment Information-

The Company operates in a single business and geographical segment i.e. "Construction and Allied Activities" within India. Accordingly, no separate disclosures for primary business and secondary geographical segment are required as per AS 17 issued by ICAI

11. Previous year figures have been regrouped and rearranged wherever necessary to confirm with the current year presentation.

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Mar 31, 2014

Corporate Information

The Company has incorporated on 21/12/1982 and the company is in to Construction and Allied Activities business.

1.1 Earnings per share

Basis earning per share are calculated by dividing the net profit or loss for the period attributable to equity shareholder by the weighted average number of equity share outstanding during the period.

For the purpose of calculating diluted earnings per share, the net profit or loss for the period attributable to equity shareholder and the weighted average number of shares outstanding during the period are adjusted for the effects of all dilutive equity shares.

1.2 Related Party Disclosure

A) Disclosure requirements as per Accounting Standard 18 (AS-18) "Related Party Disclosure" notified under Companies (Accounting Standard) Rules, 2006, (as amended) and relevant provisions of companies Act 1956,

Related Parties Nature of relationship

Pujya Guruwar Solar India Pvt Ltd Associates / Enterprises over which

(Formally known as Prog Dychem Pvt Ltd) directors and /Or their relatives has

Sanjog Developers significant influence

Shri Anand Kumar Jain (Managing Director)

Shri Nirmal Kumar Jain ( Director) Key Management Personnel

Shri Kushal Chand Jain ( Director)

Shri Hemantkumar S Jain (Additional director)

Note: Related party Relationships have been identified by the management and relied upon by the Auditors.

1.3 Contingent Liability- Demand of Rs 6,27,764 Interest under Custom Act 1962 relating to FY 1984-85. The matter is pending before competent authority.

1.4 Balances are relied upon as per books of accounts wherever the confirmations from debtors/ creditors/Loans/Advances are not available

1.5 There is no availability of information about the amount dues to small/micro undertaking, we are unable to comment that the interest if any is due to such undertaking or not.

1.6 As certified by the Management there is no obligation in respect of gratuity and leave encashment during the year.

1.7 Auditor''s Remuneration including service tax is Rs.84, 270/-. (Previous Year Rs.84, 270/-). Statutory Audit Fees - Rs. 56,180 (Rs. 56,180) Tax Audit Fees - Rs. 28,090 (Rs. 28,090)

1.8 The Company is required to appoint a whole time company secretary as per section 383A of the Companies Act, 1956. The Company is in the process of appointment of company secretary.

1.9 Expenditures & Earning in Foreign Currency- Nil

1.10 Segment Information-

The Company operates in a single business and geographical segment i.e. "Construction and Allied Activities" within India. Accordingly, no separate disclosures for primary business and secondary geographical segment are required as per AS 17 issued by ICAI

1.11 Previous year figures have been regrouped and rearranged wherever necessary to confirm with the current year presentation.

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Mar 31, 2013

I. CORPORATE INFORMATION

The Company is mainly in to real estate business and also trade in I.T Products, Telecom Products and steel.

1. Earnings per share

Basis earning per share are calculated by dividing the net profit or loss for the period attributable to equity shareholder by the weighted average number of equity share outstanding during the period.

For the purpose of calculating diluted earnings per share, the net profit or loss for the period attributable to equity shareholder and the weighted average number of shares outstanding during the period are adjusted for the effects of all dilutive equity shares.

Note-During the year, equity shares of the company were sub divided from par value of Rs.10 to 10 equity shares of Rs.1 each resulting in total number of Equity shares increased to 11,04,90,900 equity shares of Rs. 1 each as on 25/01/2013. For better comparison 1, 10,49,0900 equity shares have been considered for both FY 2012-13 and FY 2011-12.

2. Related Party Disclosure

A) Disclosure requirements as per Accounting Standard 18 (AS-18) "Related Party Disclosure" notified under Companies (Accounting Standard) Rules, 2006, (as amended) and relevant provisions of companies Act 1956,

3 Contingent Liability- Demand of Rs 6,27,764 Interest under Custom Act 1962 relating to FY 1984-85. The company is in process of filing appeal against the order of demand.

4 Balances are relied upon as per books of accounts wherever the confirmations from debtors/ creditors/Loans/Advances are not available

5 As certified by the management, there are no dues outstanding to any Micro Small and Medium size Enterprises as at the end of the year.

6 As certified by the Management there is no obligation in respect of gratuity and leave encashment during the year.

7 Auditor''s Remuneration including service tax is Rs.84, 270/-. (Previous Year Rs.84,270/-). Statutory Audit Fees - Rs. 56,180 (Rs. 56,180)

Tax Audit Fees - Rs. 28,090 (Rs. 28,090)

8 The Company is required to appoint a whole time company secretary as per section 383A of the Companies Act, 1956. The Company is in the process of appointment of company secretary.

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Mar 31, 2012

(a) Term & Right attached to equity shares

The company has only one class of equity shares having a par value of Rs.10/- per share. Each Holder of equity share is entitled to one vote per share. In the event of liquidation, shareholder will be entitled to receive remaining assets of the company after distribution of all preferential amount. The distribution will be in proportion to the member of equity share held by the share holder.

Margin money deposits of Rs 66,57,937/- (previous year 62,71,681/-) are subject to first charge to secure Letter of credit facility.

Margin money deposits of Rs 10,471/- (previous year 10,471/-) are subject to first charge to secure Bank Guarantee.

I. CORPORATE INFORMATION

Since many years the Company is trading in I T Products, Telecom and steel. It has also stepped into real estate business.

1. ' Earnings per share

Basis earning per share are calculated by dividing the net profit or loss for the period attributable to equity shareholder by the weighted average number of equity share outstanding during the period.

For the purpose of calculating diluted earnings per share, the net profit or loss for the period attributable to equity shareholder and the weighted average number of shares outstanding during the period are adjusted for the effects of all dilutive equity shares.

2 Contingent Liability-

Letters of credit issued by the bank on behalf of the company Rs.Lacs 598.87 (Previous year Rs. 388.49 Lacs)

The facility is secured by hypothecation of stock, mortgage of immovable property owned by director, personal guaranty of directors and 10 % by way of pledge of term deposit.

Guarantees given by the bankers of the company Rs.1 Lac (Previous year Rs.1 Lac).

3 Balances are relied upon as per books of accounts wherever the confirmations from debtors/ creditors/Loans/Advances are not available

4 As certified by the management, there are no dues outstanding to any Micro Small and Medium size Enterprises as at the end of the year.

5 As certified by the Management there is no obligation in respect of gratuity and leave encashment during the year. .

6 Auditor's Remuneration including service tax is Rs.84, 270/-. (Previous Year Rs.50000/-). Statutory Audit Fees - Rs. 56,180 (Rs. 25,000) Tax Audit Fees - Rs. 28,090 (Rs. 25,000)

7 The Company is required to appoint a whole time company secretary as per section 383A of the Companies Act, 1956. The Company is in the process of appointment of company secretary.

8 Expenditures & Earning in Foreign Currency

9 During the year ended 31st March, 2012, the revised schedule VI notified under The Companies Act, 1956 has become applicable to the Company, for presentation and preparation of its financial statement. The adoption of revised schedule VI does not impact recognition and measurement principles followed for preparation of financial statements. However, it has significant impacts on presentation and disclosure made in the financial statements. The Company has also reclassified the previous year figure in accordance with the requirements applicable in the current year.

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Mar 31, 2010

1. Contingent liabilities not provided for in the accounts, as certified by the management.

a). Letters of credit issued by the banks on behalf of the company Rs.518.25 Lacs (Previous year Rs.557.13Lacs)

2. Balances are relied upon as per books wherever the confirmations from debtors/creditors are not available.

3. Interest is net off of interest received on Fixed Deposits kept with the bank against margin money towards letters of credit/ bank guarantee Rs. 43.48 lacs.(Previous year Rs.43.42 lacs).

5. As certified by the management, there are no dues outstanding to any Micro Small and Enterprises as at the end of the year.

6. Inventory has been valued by the company at cost or market values whichever is lower on the basis of Valuation Report prepared by a Chartered Engineer and the same has been accepted by the auditors in view of the technical nature of the products.

7. Cash Balance as at end of financial year has been verified ano certified by the management of the Company and the auditors has relied upon the same.

8. In the Opinion of the Board of Directors, the Current assets, loans & advances are stated at net realizable value.

9. Auditors Remuneration is towards Statutory Audit Fees of Rs.50,000/-.(Previous Year Rs. 100,00/-)

10. There was no employee who was in receipt of or was entitled to receive emoluments amounting to the aggregate of Rs.24 lakhs (Previous year of Rs.24 lakhs) or more per annum if employed throughout the year or Rs.2 lakhs or more per month if employed for part of the year.

11. Previous year figures have been regrouped/ rearranged wherever necessary.