Notes to Accounts of Ajel Ltd.

Mar 31, 2024

2.28 Intangible Assets:

Amounts directly attributable to project expenses during the financial year ended 31.03.2024 have been considered as an Intangible Asset under development owing to the Memorandum of Understanding entered into between the Company and Transcord Telscape Private Limited dated 15.10.2022.

2.29 Earnings Per Share:

Basic EPS after comprehensive income Rs. (1.57)

Diluted EPS after comprehensive income Rs. (1.57)

2.30 Taxes on Income:

Considering that the company has continuing losses, there does not arise the need to pay income tax.

2.31 Statutory Liabilities:

There were a few undisputed amounts payable in respect of Goods and Service Tax, Provident Fund, Tax Deducted at source, Income Tax and any other material statutory dues as at 31st March 2024 for period of more than six months from the date they become payable the details are as follows:

2.32 Provisions, Contingent Liabilities and Contingent Assets:

Provisions are recognised for liabilities that can be measured only by using a substantial degree of estimation, if the Company has a present obligation as a result of past event, a probable outflow of resource is expected to settle the obligation and the amount of obligation can be really estimated. Provisions, Contingent Liabilities and Contingent Assets are reviewed at each Balance sheet Date.

2.33 Previous year figures have been regrouped and rearranged wherever found necessary, to be in confirmative with current year grouping and classification.

2.34 In the opinion of the Board of Directors, the current assets, and loans and advances have the value on realization at least equal to the amount at which they are stated at the Balance Sheet and provision for all known and determined liabilities is adequate and not in excess of amount reasonably required.

2.35 Balances under Sundry Debtors, Sundry Creditors, other receivables and payables are subject to confirmation to be receivable from the parties.

2.36 The Standalone Financial Statements majorly consists of the revenue and other financial items that

have been booked at the AJEL Limited branch office (''Branch'') in United States of America ( ''USA''). The financial statements of the Branch have been independently audited by Certified Public Accountants - Vijay Vedanfham & Associates based in Princeton, New Jersey, USA.

2.37 Paises are rounded off to the nearest rupee (In Lakhs).

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Mar 31, 2014

1 Share Application Money Pending Allotment

The company has proposed to issue 12,00,000 number of shares before 30/09/2013 (likely date/period), for which the company has received a sum of ''Rs. 87,40,000/-(Rupees Eighty seven lakhs forty thousand only) from the subscribers. Shares shall have a par value of ''Rs.10 each and be issued at a premium of ''Rs.2/- each. There is sufficient Authorized Capital with the company for such proposed issue.

2. Balances of personal accounts like Unsecured Loans, Receivables, Payables and Loans & Advances are subject to their respective confirmations and reconciliations.

3. Figures of the previous year have been regrouped or rearranged, wherever considered necessary, to suit the current year''s presentation.

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Mar 31, 2013

1. Balances of personal accounts like Unsecured Loans, Receivables, Payables and Loans & Advances are subject to their respective confirmations and reconciliations.

2. Figures of the previous year have been regrouped or rearranged, wherever considered necessary, to suit the current year''s presentation

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Mar 31, 2012

1.1 Share Application Money Pending Allotment

The company has proposed to issue 12,00,000 number of shares before 30/09/2012 (likely date/period), for which the company has received a sum of Rs. 87,40,000/-(Rupees Eighty seven lakhs forty thousand only) from the subscribers.

Shares shall have a par value of *Rs.10 each and be issued at a premium of Rs.2/- each. There is sufficient Authorized Capital with the company for such proposed issue.

2. Balances of personal accounts like Unsecured Loans, Receivables, Payables and Loans & Advances are subject to their respective confirmations and reconciliations.

3. Figures of the previous year have been regrouped or rearranged, wherever considered necessary, to suit the current year's presentation.

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Mar 31, 2010

1. The figures for the previous period have been regrouped and reclassified wherever considered necessary. Paise have been rounded of to the nearest rupee.

2. Other Current Assets (Schedule 6) includes a sum of Rs. 9,46,000/- due from a company in which a director is interested. Maximum amount due during the year - Rs. 9,46,000/-

3. Balances of Sundry Debtors, Sundry Creditors, Other Current Assets, Current Liabilities and Loans and Advances are subject to confirmation and reconciliation, if any.

4. There are no employees covered under section 217 (2A) of the Companies Act, 1956.

5. Remuneration Paid to Managing Director Rs. Nil.

6 Auditors Remuneration:

7. No provision has been made in respect of present liability towards future payment of gratuity to all employees, which have not yet been ascertained. However, management is of the view that Gratuity will be accounted on actual payment basis.

8. In the opinion of the Board, the value on realization of the current assets, loans and advances in the ordinary course of business, would not be less than the amount at which they are stated in the Balance Sheet and the provision for all known and determined liabilities is adequate.

9. There is no creditor with dues exceeding Rs. 1.00 lack & outstanding for more than 30 days which is registered as a small scale industrial undertaking as on 31st March 201D.

10. The Company has unabsorbed depreciation and carried forward losses under the tax laws. In absence of virtual certainty of sufficient taxable income, deferred tax assets has not been recognised by way of prudence in accordance with Accounting Standard 22-"Accounting for Taxes on Income" issued by the Institute of Chartered Accountants of India. Similarly, in view of inadequate reserves and losses of the company, deferred tax liability also has not been recognized.

11. Value of Imports on CIF basis - Rs. Nil (Previous year: Rs. Nil)

12. Expenditure incurred in foreign currency - Rs. Nil

13. Earnings in Foreign Exchange - Rs. 11.29 Lakhs (Previous year: Rs. 12.82 Lakhs)

14. Amounts remitted during the year in foreign currency on account of dividends - Rs. Nil (Previous year: Rs. Nil).

15. In terms of Accounting Standard 28 (AS-28) in view if the management, there was no impairment loss on assets during the year under report.

16. Additional information as required under Part IV of Schedule VI to the Companies Act, 1956: NIL

17. Total Amount payable to Society is Rs. 14,60,927/-as of 31st March 2010, out of which Company has provided only 4,63,345/-. The Company disputing the amount payable since last 8 years no service has been provided by the Society.