Notes to Accounts of Alacrity Securities Ltd.

Mar 31, 2024

1.10 PROVISIONS, CONTINGENT LIABILITIES AND CONTINGENT ASSETS

Provision is recognized in the accounts when there is a present obligation as a result of past event(s) and it is

Probable that an outflow of resources will be required to settle the obligation and a reliable estimate can be made. 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. Contingent liabilities are disclosed unless the possibility of outflow of resources is remote. Contingent assets are neither recognized nor disclosed in the financial statements.

1.11 Earnings Per Share

Earnings per share (Basic / Diluted) is calculated by dividing the net profit or loss for the period attributable to equity shareholders by weighted average numbers of equity shares outstanding during the period.

In Accordance with our Report attached

For CLB & Associates For and on behalf of the Board

Chartered Accountants Firm Registration No.124305W

S Sarupria Pooja A Gupta Kishore Shah

(Partner) Whole Time Director Whole Time Director & CFO

M No. 035783

Place: Mumbai Date: 22/05/2024

Krupa Gandhi

Company Secretary

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Mar 31, 2023

25. Contingent liabilities and Commitment (to the extent not provided for): (Rs. in lacs) 2022-23 2021-22 i) Bank Guarantee 592.50 392.50 However against the same fixed deposit of Rs. 296.25 Lakhs (P.Y 196.25 Lakhs) given as margin.

ii) The Co. has not acknowledged the Income Tax demand of Rs.7.92 Lacs for the Asst Year 1998-99

Since re-verification before CIT (Appeals) as per ITAT Order is still pending. However the whole amount has been adjusted by the department.

iii) The Co. has not acknowledged the Income Tax demand of Rs.6.70 lacs for the Asst Year 2017-18

Since re-verification before CIT (Appeals) as per ITAT Order is still pending. However the whole amount has been adjusted by the department.

iv) Capital Commitments: Estimated amount of contracts remaining to be executed on Capital Account and not provided for Rs 291.36 Lacs (Previous Year Rs 291.36 Lacs) against which advances paid Rs 175.00 Lacs (Previous Year Rs 175.00 Lacs)

26. Liabilities in respect of Gratuity and leave encashment are being accounted for on payment basis, which is not in conformity with AS-15 on Employees Benefits as notified by the companies (Accounting Standards) Rules, 2006 which required that Gratuity and Leave Encashment liabilities should be accountant for on accrual basis.

29. Disclosures as required under the Micro Small and Medium Enterprise Development Act, 2006.

This Information and that given in Note 7 - Trade Payables regarding Micro and Small Enterprise has been determined to the extent such parties have been identified on the basis of information available with the company.

30. Balances of Loans & Advances, Debtors & Creditors are subject to confirmation & reconciliation.

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Mar 31, 2016

ii) The Co. has not acknowledged the Income Tax demand of Rs.7.92 lacs for the Asst Year 98-99

Since re-verification before CIT (Appeals) as per ITAT Order is still pending. However the whole amount has been adjusted by the department.

iii) Capital Commitments: Estimated amount of contracts remaining to be executed on Capital Account and not provided for Rs 426.74 Lacs (Previous Year Rs 426.74 Lacs ) against which advances paid Rs 275.00 Lacs ( Previous Year Rs 275.00 Lacs)

1. Liabilities in respect of Gratuity and leave encashment are being accounted for on payment basis, which is not in conformity with AS-15 on Employees Benefits as notified by the companies (Accounting Standards) Rules, 2006 which required that Gratuity and Leave Encashment liabilities should be accountant for on accrual basis.

“Transaction of Brokerage involved on share trading not considered in view of numerous transaction and practically difficult to quantify

2. Disclosures as required under the Micro Small and Medium Enterprise Development Act, 2006.

This Information and that given in Note 7 - Trade Payables regarding Micro and Small Enterprise has been determined to the extent such parties have been identified on the basis of information available with the company.

3. Balances of Loans & Advances, Debtors & Creditors are subject to confirmation & reconciliation.

4. Sundry Creditors includes margin received on account of future and option segment.

5. Additional information of part II Schedule III of the Companies Act 2013.

6. Previous year''s figures are reclassified where ever found necessary.

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Mar 31, 2015

1. Contingent liabilities and Commitment ( to the extent not provided for ):

(Rs. in lacs)

2014-15 2013-14

i) Bank Guarantee 531.75 431.75

ii) The Co. has not acknowledged the Income Tax demand of Rs.7.92 lacs for the Asst Year 98-99

since re-verification before CIT (Appeals) as per ITAT Order is still pending. However the whole amount has been adjusted by the department.

2. Gratuity and leave encashment being accounted on payment basis, Since there was less than no. of employees as required by AS-15 during the year particulars except

above required as per AS-15 are not applicable to the company.

3. Balances of Loans & Advances, Debtors & Creditors are subject to confirmation & reconciliation.

4. Sundry Creditors includes margin received on account of future and option segment.

4. Additional information of part II Schedule III of the Companies Act 2013.

5. Disclosures as required under the Micro Small and Medium Enterprise Development Act, 2006.

This Information and that given in Note 7 - Trade Payables regarding Micro and Small Enterprise has been determined to the extent such parties have been identified on the basis of information available with the company.

6. Previous year's figures are reclassified where ever found necessary.

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Mar 31, 2014

1. Contingent liabilities not provided for: (Rs. in lacs)

2013-14 2012-13

i) Bank Guarantee 431.75 431.75

ii) The Co. has not acknowledged the Income Tax demand of Rs.7.92 lacs for the Asst Year 98-99 since re verification before CIT (Appeals) as per ITAT Order is still pending. However Rs. 2 Lacs. Paid under protest .

2. Gratuity is being accounted on payment basis, Since there was less than no. of employees as required by AS-15 during the year particulars except above required as per AS-15 are not applicable to the company.

3. Balances of Loans & Advances, Debtors & Creditors are subject to confirmation & reconciliation.

4. Sundry Creditors includes margin received on account of future and option segment.

5. Additional information pursuant to para 3 and 4 of part II Schedule VI of the Companies Act

6. Disclosures as required under the Micro Small and Medium Enterprise Development Act, 2006.

This Information and that given in Note 7 - Trade Payables regarding Micro and Small Enterprise has been determined to the extent such parties have been identified on the basis of information available with the company.

7. Previous year''s figures are reclassified where ever found necessary.

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Mar 31, 2013

1. Contingent liabilities not provided for: (Rs. in lacs) 2012-3 2011-12

i) Bank Guarantee 431.75 482.00

ii) The Co. has not acknowledged the Income Tax demand of Rs. 7.92 lacs forthe Asst Year 98-99 since re verification before CIT (Appeals) as per ITAT Order is still pending. However Rs. 2 Lacs. Paid under protest

2. Gratuity is being accounted on payment basis, Since there was less than no. of employees as required by As-15 during the year particulars except above required as per AS-15 are not applicable to the company.

3. Related Party Transactions

i) Related Parties Disclosures

4. Balance of Loans & Advances, Debtors & Creditors are subject to confirmation & reconciliation.

5. Sundry Creditors includes margin received on account of future and option segment.

6. Additional information pursuant to para 3 and 4 of part II Schedule VI of the Companies Act

Other information are either Nil or Not Applicable

7. Previous year''s figures are reclassified where ever found necessary.