Notes to Accounts of Continental Chemicals Ltd.

Mar 31, 2025

2.12 Provisions, contingent liabilities, contingent assets and commitments

A provision is recognized when there is a present legal or constructive obligation as a result of past event; it is probable that an outflow of
resources will be required to settle the obligation, and in respect of which a reliable estimate can be made. These are reviewed at each
Balance Sheet date and adjusted to reflect the current best estimates. A disclosure for a contingent liability is made where there is a possible
obligation arising out of past event, the existence of which will be confirmed only by the occurrence or non-occurrence of one or more
uncertain future events not wholly within the control of the Company or a present obligation arising out of past event where it is either not
probable that an outflow of resources will be required to settle or a reliable estimate of the amount cannot be made.

If the effect of the time value of money is material, provisions are discounted using a current pre-tax rate that reflects, when appropriate,
the risks specific to the liability. When discounting is used, the increase in the provision due to the passage of time is recognized as a
finance cost.

2.13 Foreign currency transactions

The standalone financial statements are presented in currency INR, which is also the functional currency of the Company. Functional
currency is the currency of the primary economic environment in which the entity operates.

In preparing the financial statements, transactions in currencies other than the Company''s functional currency are recorded at the rates
of exchange prevailing on the date of the transaction. At the end of each reporting period, monetary items denominated in foreign
currencies are re-translated at the rates prevailing at the end of the reporting period. Non-monetary items carried at fair value that are
denominated in foreign currencies are retranslated at the rates prevailing on the date when the fair value was determined. Non¬
monetary items that are measured in terms of historical cost in a foreign currency are not translated.

2.14 Fair value measurement

The Company measures financial instruments, such as, investments and derivatives, at fair value at each balance sheet date.

Fair value is the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market
participants at the measurement date. The fair value measurement is based on the presumption that the transaction to sell the asset or
transfer the liability takes place either:

> In the principal market for the asset or liability, or

> In the absence of a principal market, in the most advantageous market for the asset or liability
The principal or the most advantageous market must be accessible by the Company.

The fair value of an asset or a liability is measured using the assumptions that market participants would use when pricing the asset or
liability, assuming that market participants act in their economic best interest.

A fair value measurement of a non-financial asset takes into account a market participant''s ability to generate economic benefits by using
the asset in its highest and best use or by selling it to another market participant that would use the asset in its highest and best use.

The Company uses valuation techniques that are appropriate in the circumstances and for which sufficient data are available to
measure fair value, maximizing the use of relevant observable inputs and minimizing the use of unobservable inputs.

All assets and liabilities for which fair value is measured or disclosed in the financial statements are categorized within the fair value
hierarchy, described as follows, based on

> 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

For assets and liabilities that are recognized in the financial statements on a recurring basis, the Company determines whether transfers
have occurred between levels in the hierarchy by re-assessing categorization (based on the lowest level input that is significant to the
fair value measurement as a whole) at the end of each reporting period.

The Company''s Management determines the policies and procedures for both recurring fair value measurement, such as derivative
instruments and unquoted/quoted financial assets measured at fair value.

External valuers are involved for valuation of unquoted financial assets and financial liabilities. Involvement of external valuers is decided
upon annually by the Management. Selection criteria include market knowledge, reputation, independence and whether professional
standards are maintained. The Management decides, after discussions with The Company''s external valuers, which valuation techniques
and inputs to use for each case.

At each reporting date, the Company analyses the movements in the values of assets and liabilities which are required to be remeasured
or re-assessed as per the Company''s accounting policies. For this analysis, the Company verifies the major inputs applied in the latest
valuation by agreeing the information in the valuation computation to contracts and other relevant documents.

The Company, in conjunction with the Company''s external valuers, also compares the change in the fair value of each asset and liability
with relevant external sources to determine whether the change is reasonable on a yearly basis.

For the purpose of fair value disclosures, the Company has determined classes of assets and liabilities on the basis of the nature,
characteristics and risks of the asset or liability and the level of the fair value hierarchy as explained above.

2.15 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

Initial recognition and measurement

All financial assets are recognized 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.

Subsequent measurement

For purposes of subsequent measurement, financial assets are classified in following categories:

A) Debt instruments

i) Debt instruments at amortized cost

A ‘debt instrument'' is measured at the amortised cost if both the following conditions are met:

(a) The asset is held within a business model whose objective is to hold assets for collecting contractual cash flows, and

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

This category is the most relevant to the Company. 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 amortisation is included in finance income in the
profit or loss. The losses arising from impairment are recognised in the profit or loss. This category generally applies to loans, security
deposits given, trade and other receivables.

ii) Debt instrument at FVTOCI

A debt instrument is subsequently measured at fair value through other comprehensive income if it is held within a business model
whose objective is achieved by both collecting contractual cash flows and selling financial assets and the contractual terms of the
financial asset give rise on specified dates to cash flows that are solely payments of principal and interest on the principal amount
outstanding. The Company has not classified any financial asset into this category.

iii) Debt instrument at FVTPL

FVTPL is a residual category for debt instruments. Any debt instrument, which does not meet the criteria for categorization as at
amortized cost or as FVTOCI, is classified as at FVTPL.

In addition, the Company may elect to designate a debt instrument, which otherwise meets amortized cost or FVTOCI criteria, as at
FVTPL. However, such election is allowed only if doing so reduces or eliminates a measurement or recognition inconsistency (referred
to as ‘accounting mismatch'').

Debt instruments included within the FVTPL category are measured at fair value with all changes recognized in the P&L.

B) Equity instruments

All equity instruments are subsequently measured at fair value in the balance sheet,with value changes recognised in statement of profit
and loss, except for those equity instruments for which the Company has elected to present value changes in “ other comprehensive
income”. If an equity instrument is not held for trading, the Company may make an irrevocable election for its investments which are
classified as equity instruments to present the subsequent changes in fair value in other comprehensive income. The Company makes
such election on an instrument-by-instrument basis.

If the Company decides to classify an equity instrument as at FVTOCI, then all fair value changes on the instrument, excluding
dividends, are recognized in the OCI. There is no recycling of the amounts from OCI to P&L, even on sale of investment. However, The
Company may transfer the cumulative gain or loss within equity.

The Company has elected to present all equity instruments, other than those in subsidiary, through FVTPL and all subsequent changes
are recognized in Statement of Profit and Loss.

Derecognition

A financial asset (or, where applicable, a part of a financial asset or part of a group of similar financial assets) is primarily derecognised
(i.e. removed from the Company''s balance sheet) when:

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

> 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 recognise the
transferred asset to the extent of the Company''s continuing involvement. In that case, the Company also recognises an associated
liability. The transferred asset and the associated liability are measured on a basis that reflects the rights and obligations that the
Company has retained.

Continuing involvement that takes the form of a guarantee over the transferred asset is measured at the lower of the original carrying
amount of the asset and the maximum amount of consideration that the Company could be required to repay.

Impairment of financial assets

The Company applies expected credit loss (ECL) model for measurement and recognition of impairment loss on the following financial
assets and credit risk exposure;

a. Financial assets that are debt instruments, and are measured at amortised cost e.g. loans, debt securities, deposits, trade
receivables and bank balances

b. Financial assets that are debt instruments and are measured as at other comprehensive income (FVTOCI)

c. Lease receivables under Ind AS 116

d. Trade receivables or any contractual right to receive cash or another financial asset that result from transactions that are within
the scope of Ind AS 11 and Ind AS 18

The Company follows ‘simplified approach'' for recognition of impairment loss allowance on:

> Trade receivables or contract revenue receivables; and

> All lease receivables resulting from transactions within the scope of Ind AS 116

Under the simplified approach the Company does not track changes in credit risk. Rather, it recognises impairment loss allowance
based on lifetime ECLs at each reporting date, right from its initial recognition.

For recognition of impairment loss on other financial assets and risk exposure, the Company determines that whether there has been a
significant increase in the credit risk said initial recognition. If credit risk has not increased significantly, 12 month ECL is used to provide
for impairment loss. However, if credit risk has increased significantly, lifetime ECL is used. If in subsequent period the credit risk
reduces since initial recognition, then the entity reverts to recognizing impairment loss allowance based on 12 month ECL.

As a practical expedient, the Company uses a provision matrix to determine impairment loss allowance on portfolio of its trade
receivables. The matrix is based on its historically observed default rates over the expected life of the trade receivables and is adjusted
for forward looking estimates. At every reporting date, the historical observed default rates are updated and changes in the forward
looking estimates are analysed. The Company has presumed that default doesn''t occur later than when a financial asset is 90 days past
due.

ECL is the difference between all contracted cash flows that are due to the Company in accordance with the contract and all the cash
flows that the Company expects to receive, discounted at the original EIR. ECL impairment loss allowance ( or reversal) recognised
during the period is recognised as income / (expense) in the statement of profit and loss (P&L). This amount is reflected under the head
“Other Expense” in the P&L. The impairment loss is presented as an allowance in the Balance Sheet as a reduction from the net
carrying amount of the trade receivable, loan, deposits and lease receivable respectively.

Financial liabilities

Initial recognition and measurement

All financial liabilities are initially recognised at fair value. The Company''s financial liabilities include trade and other payables, loans and
borrowings including bank overdraft and derivative financial instruments.

Subsequent measurement

Subsequent measurement of financial liabilities depends on their classification as fair value through Profit and loss or at amortized cost.

All changes in fair value of financial liabilities classified as FVTPL is recognized in the Statement of Profit and Loss. Amortised cost
category is applicable to loans and borrowings, trade and other payables. After initial recognition the financial liabilities are measured at
amortised cost using the EIR method. Gains and losses are recognized in profit and loss when the liabilities are derecognized as well as
through the EIR amortization process. Amortised cost is calculated by taking into account any discount or premium on acquisition and
fees or cost that are integral part of the EIR. The EIR amortization is included as finance cost in the Statement of Profit and Loss.

Derecognition

A financial liability is derecognised when the obligation under the liability is discharged or cancelled or expires. When an existing
financial liability is replaced by another from the same lender on substantially different terms, or the terms of an existing liability are
substantially modified, such an exchange or modification is treated as the derecognition of the original liability and the recognition of a
new liability. The difference in the respective carrying amounts is recognised in the statement of profit or loss.

Reclassification of financial instruments

After initial recognition, no reclassification is made for financial assets which are equity instruments. For financial assets, which are debt
instruments, a reclassification is made only if there is a change in the business model for managing those assets. Changes to the business
model are expected to be infrequent. If the Company reclassifies the financial assets, it applies the reclassification respectively from the
reclassification date which is the first day of the immediately next reporting period following the change in the business model.

Offsetting financial assets and financial liabilities

Financial assets and liabilities are offset and the net amount is reported in the balance sheet if there is a currently enforceable legal
right to offset the recognized amounts and there is an intention to settle on a net basis, to realise the assets and settle the liabilities
simultaneously.

2.16 Related party transactions

Disclosure of transactions with Related Parties, as required by Ind-As 24 “Related Party Disclosures” has been set out in a separate
note. Related parties as defined under Ind-As 24 have been identified on the basis of representations made by key managerial
personnel and information available with the Company.

3.1 Material accounting estimates and assumptions

The preparation of the Company''s financial statements requires management to make judgements, estimates and assumptions that affect
the reported amounts of revenues, expenses, assets and liabilities, and the accompanying disclosures, and the disclosure of contingent
liabilities. Uncertainty about these assumptions and estimates could result in outcomes that require a material adjustment to the carrying
amount of assets or liabilities affected in future periods.

Estimates and assumptions

The key assumptions concerning the future and other key sources of estimation uncertainty at the reporting date, that have a significant
risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year, are described below.
The Company based its assumptions and estimates on parameters available when the financial statements were prepared. Existing
circumstances and assumptions about future developments, however, may change due to market changes or circumstances arising that
are beyond the control of the Company. Such changes are reflected in the assumptions when they occur.

Note no.: 24

a. All the Current Assets, Loans and Advances, in the opinion of the Board, have a value on Realization which in the ordinary course
of business shall at least be equal to the amount at Which it is stated in the Balance Sheet.

b. The company in the process of identifying its suppliers as Micro, Small & Medium Enterprises as defined under the “Micro, Small
and Medium Enterprises Development Act, 2006”. However the company has not received any intimation/ Communication from
its suppliers regarding applicability of said Act to them. Therefore no such disclosures under the said Act has been furnished

c. In terms of Ind AS 36 on impairment of assets, there was no impairment indicators exist as of reporting date as per the internal
management estimates done and hence no impairment charge is recognized during the year under review.

d. Employee Benefits:

As per Indian Accounting Standard - 19 “Employees Benefits”, the disclosures of Employees Benefits are as follows:

Gratuity

The gratuity plan is governed by the payment of Gratuity Act 1972, under the said Act an employee who has completed five years
of service is entitled to specific benefit. The gratuity plan provides a lump sum payment to employees at retirement death,
incapacitation or termination of employment. The level of benefits provided depends on the member''s length of service and salary
at retirement age.

Other Disclosures

a. The Company has not been declared willful defaulter by bank or financial institution or any other lender during the year

b. The company does not have any transactions or balances with the companies struck off under section 248 of the Companies Act,2013 or
section 560 of Companies Act,1956 during the year and previous year.

c. During the year, there are no instances of any registration, modification or satisfaction of charges which are pending for registration with
Registrar of Companies beyond the statutory period.

d. The Company has no layer of Companies, Company is in compliance with the relevant provisions of the Companies Act,2013 with respect
to the number of layers prescribed under clause(87) of Section 2 of the Companies Act,2013 read with Companies (Restriction on number
of layers) Rules,2017.

e. The Company do not have any benami property, and no proceeding has been initiated against the Company for holding any benami
property.

f. The Company have not traded or invested in crypto currency or virtual currency during the financial year.

g. The Company have not advanced or loaned or invested funds to any other person(s) or entity(ies), 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.

h. 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 Group shall:

a. 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

b. provide any guarantee, security or the like on behalf of the ultimate beneficiaries.

i. The Company have not any such 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 (such as, search or survey or any other relevant provisions
of the Income Tax Act, 1961”.

As per Our Report of Even Date
FOR SSVS & CO.
Chartered Accountants
Firm Reg No 021648C

Sd/- Sd/- Sd/-

Sd/- Sd/-

Aditya Vikram Chibba Naresh Kumar Vipul Sharma (F.C.A)

Chibba Sakshi Dhawan Navneet Kumar

DIRECTOR DI RECTOR Co m pan y Sec retary CFO Partner

(02838045) (00376963) ACS: 033279 M.NO 74437

Place : Noida

Date : 17.05.2025

UDIN : 25074437BMKW0V2720

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Mar 31, 2015

1. The figures have been rounded off at the nearest rupees.

18. All the Current Assets. Loans and Advances, in the opinion of the Board, have a value on realization which in the ordinary course of business shall at least be equal to the amount, at which it is stated in the Balance Sheet.

2. The company has lost the case against union of India and had acknowledge debt including interest up to the date of order of Supreme Court in financial year 2013-2014.

3. Related Party Disclosures:

A. Parties where control exists: NIL

B. Other Related Parties where transactions have taken place during the Year:

I. Key Management Personnel (KMP) : SUNAINA CHIBBA

: NARESH KUMAR CHIBBA

: PRADEEP KUMAR CHOPRA

: AKSHAT BHASKAR

: PARDEEP KUMAR

: URMINDER SINGH

4. Enterprises significantly influenced by Individuals having significant influence/substantlal interest: Interads E Communications Limited Continental Software Solutions Limited

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Mar 31, 2014

1. There are contingent liabilities of Rs. NIL of the Company as on 31st March, 2014.

2. None of the employees of the company were drawing emoluments more than what has been specified under the newly amended Companies (Particulars of Employees) Rules, 1975.

3. In the opinion of the Board of Directors the Current Assets, Loans & Advances are having the value at which they are stated in the Balance Sheet, if realised in the ordinary course of Business.

4. The previous year''s figures have been regrouped / reclassified wherever necessary to correspond with the current year''s classification/ disclosure.

5. The Company has been advised that the Computation of Net Profit for the purpose of Director''s remuneration under Section 349 of the Companies Act, 1956 need not be enumerated since no commission has been paid to the Directors.

6. No dividend has been recommended for the year ended 31st March, 2014.

7. EARNING PER SHARE

i) Earning per share of the company has been calculated considering the profit(loss)after Taxation, Rs. (396115.59(previous year Rs 150990.24 are numerator

ii) Number of equity shares used as denominator is 999000.

iii) The basic and diluted EPS for the year on the above mentioned basis comes to Rs. (0.40) previous year Rs. 0.15

8. The Managing director''s remuneration has been provided only at the minimum remuneration as per the companies Act, 1956.

9. The company''s refund claims for refund due under The Excise Act amounting to Rs. 1062137/- (Previous years Rs. 1062137/-) are pending with excise authorities at various levels. This has not been taken in accounts.

10. Claims against the company not acknowledge as debt are as under:

In respect of electricity charges Rs. 1210595.90 (Previous Year Rs. 1210595.90). This has not been taken in account.

11. Electricity Charges paid Rs. 67097/- was under protest and the matter of refund of the said amount is still pending with the court. This amount has not been taken in accounts.

12. The company has lost the case against Union of India and acknowledged financial liability of Rs. 37.84 Lac, as per the final order passed by the Supreme Court of India.

13. Balance Confirmation Certificates from Sundry Debtors & Sundry Creditors are yet to be received.

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Mar 31, 2013

(A) Company Overview:

The Company was incorporated on 27.11.1984 presently having its Registered Office at A-7, Sector-7, Noida, U.P.-201301

1. There are no contingent liabilities of the Company as on 31.03.2013.

2. None of the employees of the company were drawing emoluments more than what has been specified under the newly amended Companies (Particulars of Employees) Rules, 1975.

3. In the opinion of the Board of Directors the Current Assets, Loans & Advances are having the value at which they are stated in the Balance Sheet, if realised in the ordinary course of Business.

4. Previous year figures have been regrouped & rearranged wherever necessary.

5. The Company has been advised that the Computation of Net Profit for the purpose of Director''s remuneration under Section 349 of the Companies Act, 1956 need not be enumerated since no commission has been paid to the Directors.

6. No dividend has been recommended for the year ended 31st March, 2013.

7. The Managing Director''s remuneration has been provided only at the minimum remuneration as per the Companies Act. 1956.

8.. The Company''s refund claims for refund due under The Excise Act amounting to Rs. 1062137/- (Previous years Rs. 1062137/-) are pending with excise authorities at various levels. This has not been taken in accounts.

9. Claims against the company not acknowledge as debt are as under:-

In respect of electricity charges Rs. 1210595.90 (Previous year Rs. 1210595.90).This has not been taken in account.

10 Electricity charges paid Rs. 67097/- was under protest and the matter of refund of the said amount is still pending with the court. This amount has not been taken in accounts.

11. Balance Confirmation Certificate from Sundry Debtors & Sundry Creditors are yet to be received.

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Aug 31, 2011

Not Available

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Aug 31, 2010

(Forms integral part of the Balance Sheet and Profit & Loss Account for the year ended 31/08/2010)

The company is engaged in the business of development of computer software and other related services. The production and sale of such software is not capable of being expressed in any generic unit and hence it is not possible to give the quantitative details of sales and the information as required under paragraphs 3,4C and 4D of Part II of Schedule VI of the Companies Act, 1956.

a) Provision has been made on account of Rs. 21000/- (previous year - 332743/-) in respect of gratuity for the amount due to employees who have completed service for Five years.

b) Research & Development Expenses charged to Profit & Loss Account during the year 2009-2010 is 319391/- (Previous year 901353/-.)

c) DEFERRED TAXATION

(i) Based on Accounting standard on accounting for Taxes on income (AS- 22) during the year deferred tax assets of Rs. 587460/- for the year ended 31.8.2010 has been adjusted

d) Previous year figures have been regrouped and rearranged wherever necessary.