Notes to Accounts of Bhanderi Infracon Ltd.

Mar 31, 2024

M. Provisions, Contingent liabilities and Contingent assets:

A provision is recognized when the Company has a present obligation because of past events and
it is probable that an outflow of resources will be required to settle the obligation, in respect of
which a reliable estimate can be made. Provisions are not discounted to their present value and are
determined based on best estimate required to settle the obligation at the balance sheet date. These
are reviewed at each balance sheet date and adjusted to reflect the current best estimates.

Contingent liabilities are disclosed by way of notes to accounts.

Contingent assets are not recognized or disclosed.

N. Cash and Cash Equivalents:

Cash and cash equivalent in the cash flow statement comprises cash at bank and in hand and short¬
term investment with an original maturity of three months or less.

O. Segment Reporting:

The Company has identified Real Estate and Trading in Grocery as primary business segments of
the Company. The accounting policies consistently used in the preparation of the financial
statements are also applied to record revenue and expenditure in individual segments. Assets,
liabilities, revenues and direct expenses in relation to segments are categorised based on items that
are individually identifiable to that segment, while other items, wherever allocable, are
apportioned to the segments on an appropriate basis. Certain items are not specifically allocable
to individual segments as the underlying services are used interchangeably. The Company
therefore believes that it is not practical to provide segment disclosures relating to such items.
Company has only one reportable geographical segment, i.e India, hence the reporting under
geographical segment has not been made.

29 Additional Regulatory Information:

a) No proceedings have been initiated or pending against the company under the Benami Transactions
(Prohibition) Act,1988.

b) The Company has only one layered subsidiaries , hence clause (87) of section 2 of the Act read
with Companies (Restriction on number of Layers) Rules, 2017 is not applicable to the company.

c) The Company has not borrowed any fund from any bank or financial institutions, accordingly
Company is not required to registered any charge with ROC. Similarly Company is not required to
file any quarterly returns or statement of current assets with the bank or financial institutions.

^d) The Company has not borrowed any fund from any bank of financial institutions, hence reporting
for utilization of borrowed funds is not applicable to the Company.

e) The Company has not advanced or loaned or invested any fund to any entity (Intermediaries) with
the understanding that the Intermediary shall lend or invest in party identified by or on behalf of
the Company (Ultimate Beneficiaries). The Company has not received any fund from any party
with the understanding that the Company shall whether, directly or indirectly lend or invest in other
entities identified by or on behalf of the Company (“Ultimate Beneficiaries”) or provide any
guarantee, security or the like on behalf of the Ultimate Beneficiaries.

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

g) The Company does not have any transaction which is not recorded in the books of accounts that
has been surrendered or disclosed as income during the year in the tax assessments under the
Income Tax Act, 1961.

30 Corporate Social Responsibility:

Company is not covered under section 135 of the Companies Act, 2013. Accordingly, during the
year Company has not spent any amount under CSR activity.

31 Contingent Liabilities:

There is no contingent liability as per information and explanation given to us.

32 Previous year figures have been regrouped/ recast/ reclassified wherever necessary, to conform to
current year’s classification.

For JMT & Associates, For Bhanderi Infracon Limited,

Chartered Accountants,

Firm Registration No : 104167W,

Sd/- Sd/-

Arun S. Jain Sunil Dhirubhai Patel

Partner Managing Director

Membership No. 043161 DIN: 00307827

Date: 30.05.2024
Place: Mumbai

UDIN: 24043161BKFEPS9679 Sd/-

Bhumikaben Patel

Director

DIN: 06984921

Sd/-

Ketanbhai Jayshukhbhai Koladiya
Chief Financial Officer

Sd/-

Rinkal Ajay Patel

Company Secretary & Compliance Officer
Date: 30.05.2024
Place: Ahmedabad

---

Mar 31, 2016

1. The Company‘s operations predominantly relate to real estate development and incidental services. The Company had acquired certain immovable property from M/s. Indian Electro Chemical Ltd. & others on which the Company executed Industrial park and plotting scheme.

2. In the opinion of the Board, any of the assets other than fixed assets and non-current investments are approximately of the value stated, if realized in the ordinary course of business. Further provisions have been made for all known & accrued liabilities.

3. The current liabilities include the dues of sundry creditors amounting to Rs. Nil (Previous Period Rs. Nil) relating to Micro, Small and Medium Enterprises has been determined to the extent such parties have been identified on the basis of information available with the Company. The parties of Micro, Small and Medium Enterprises to whom, the Company owe any sum (principal) outstanding for more than forty-five days, are Nil. Further interest payable on the said outstanding is Nil.

6. Details of Investment in Partnership Firms:

- The Company has investment in the partnership firm “M/s. Tulsi Enterprises”. The Company’s profit/loss sharing ratio as on 31^stMarch, 2016 is 5%. The partners of the firm are-

7. Sunilbhai Patel

8. Dhirubha Mohanbhai Patel

9. Bhanderi Corporation Limited

10. Bhanderi Procon Limited

11. Bhanderi Infracon Limited

- The Company has investment in the partnership firm "M/s. Dharnidhar Developers”. The Company’s profit/loss sharing ratio as on 31stMarch, 2016 is 7.5%. The partners of the firm are-

12. Sunilbhai Patel

13. Ashok Kumar Chelaram Rangwani HUF

14. Ashok Kumar Chelaram Rangwani

15. Gaurangbhai Ashokbhai Rangwani

16. Bhanderi Corporation Limited

17. Bhanderi Procon Limited

7. Bhanderi Infracon Limited

18. Dhirubhai Mohanbhai Patel

The Capital balance of the partners as on 31^st March, 2016 is as under:-

19. The Company made an Initial Public offering (IPO) in 2014 through which it raised Rs. 659.52*. The utilization of Initial Public Offer ( IPO ) are given below:

* Includes Rs. 11.52 Lacs being amount received in respect of 9,600/- additional shares issued for the purpose of rounding off while finalizing the basis of allotment.

20. Balance of current assets and current liabilities are subject to confirmation and reconciliation if any.

21. Previous year’s figures are regrouped and re-arranged wherever considered necessary.