Notes to Accounts of Delta Industrial Resources Ltd.

Mar 31, 2024

2.13 Provision, Contingent Liabilities and Contingent Assets:

A provision is recognised when the company has a present obligation as a result of past event
and it is probable that an outflow of resources will be required to settle the obligation, in respect
of which reliable estimate can 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.

Contingent Assets and Contingent Liabilities are not recognized in the financial statements.

9.2 Terms and rights attached to equity shares

The company has issued only one class of equity shares having a par value of Rs. 10 per share. Each
holder of equity shares is entitled to vote per share. The company declares and pays dividend if any, in
Indian Rupees. The dividend proposed by the Board of Directors is subject to approval of the shareholders
in the ensuing Annual General Meeting.In the event of liquidation of the company, the holders of equity
shares will be entitled to receive remaining assets of the company, after distribution of all the preferential
amount. The distribution will be in proportion to the number of equity shares held by the shareholder.

26 Financial risk management

The Company has exposure to the following risks arising from financial instruments:

(i) Market risk

(a) Interest rate risk;

(ii) Credit risk and ;

(iii) Liquidity risk

Risk management framework

The Company’s activities expose it to a variety of financial risks, including market risk . The Company’s
primary risk management focus is to minimize potential adverse effects of risks on its financial performance.
The Company’s risk management assessment policies and processes are established to identify and
analyse the risks faced by the Company, to set appropriate risk limits and controls, and to monitor such
risks and compliance with the same. Risk assessment and management of these policies and processes
are reviewed regularly to reflect changes in market conditions and the Company’s activities. The Board of
Directors and the Audit Committee are responsible for overseeing these policies and processes.

(i) Market risk

Market risk is the risk of changes in the market prices on account of foreign exchange rates, interest
rates and Commodity prices, which shall affect the Company’s income or the value of its holdings of
its financial instruments . The objective of market risk management is to manage and control market
risk exposure within acceptable parameters, while optimising the returns.

(a) 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 market interest rates. The Company’s exposure to market risk
for changes in interest rates relates to borrowings from banks and others.

Credit risk is the risk of financial loss to the company if a customer or counterparty to a financial
instrument fails to meet its contractual obligations and arises principally from the company’s
receivables from customer. The Company establishes an allowance for doubtful debts, impairement
and expected credit loss that represents it estimate an allowance for doubtful debts, impairment and
expected credit loss that represents its estimate on epected credit loss.

A. Trade receivables

The Company’s exposure to credit riskis influenced mainly by the individual characteristics of
each customer. The demographics of the customer , including the default risk of the industry
has an influence on credit risk assessment. Credit risk managed through credit approvals
establishing credit limits and continuously monitoring the creditwor thiness of customers to
which the Company grants credit terms in the normal course of business.However, the company
doesnot expect any losses from non-performance by these counter-parties apart from those
already given in financials, and does not have any significant concentration of exposures.

B. Cash and cash equivalents

The Company holds cash and cash equivalents with creditworthy banks of ¹ 83.17 thousands.
The credit worthiness of such banks is evaluated by the management on an on-going basis
and is considered to be good.

Liquidity risk is the risk that the Company will not be able to meet its financial obligations as they
become due. The Company has been taking measures to ensure that the Company’s cash flow from
business borrowing is sufficient to meet the cash requirements for the Company’s operations. The
Company managing its liquidity needs by monitoring forecasted cash inflows and outflows in day to
day business. Liquidity needs are monitor endonvarious time bands, on a day to day and week to
week basis, as well as on the basis of a rolling 30 day projections. Net cash requirements are
compared to available working capital facilities in order to determine head room or any shortfalls.
Presently company’s objective is to maintain sufficient cash to meet its operational liquidity
requirements.

27 The company has complied with the number of layers prescribed under clause (87) of section 2 of the Act
read with the Companies (Restriction on number of layers) Rules, 2017.

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

29 The Company does not have any charges or satisfaction which is yet to be registered with ROC beyond
the statutory period.

30 The Company has not been declared wilful defaulter by any bank or financial institution or government or
any government authority.

31 The company has not any such transactions 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 provision of the Income Tax Act, 1961).

32 Balance shown under receivables, payables and advances are subject to confirmation.

33 The Company did not have any long- term contracts including derivative contracts for which there were
any material foreseeable losses.

34 There has been no delay in transferring amounts, required to be transferred, to the Investor Education
and Protection Fund by the Company.

35 The company does not have transactions with the companies struck off under section 248 of Companies
Act ,2013.

36 The financial statements were approved for issue by the Board of Directors on 30th May, 2024.

37 Previous year’s figures have been re- arranged or re- grouped wherever considered necessary.

38 Figures have been rounded off to the nearest Lacs of rupees.

39 Figures in brackets indicate negative (-) figures.

Signed for the purpose of Identification

FOR BHATTER & ASSOCIATES For and on behalf of the Board of Directors of

Chartered Accountants Delta Industrial Resources Limited

Firm Regn. No.131411W

Sd/- Sd/- Sd/-

Rohit Kumar Tawari Jaynath Jha Lily Mundu

Partner Managing Director Executive Director

Membership No. 197557 DIN: 10099333 DIN: 10118884

UDIN: 24197557BKAERL2428

30th day of May 2024

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Mar 31, 2013

1. Provision for tax for the year comprised estimated current income tax determined to be payable in respect of taxable income The company has not recognised deferred tax for the year due to consideration of prudence as in the opinion of management sufficient future taxable income may not be available against which deferred tax assets can be realised

2. Previous years figures have been regrouped / reclassified wherever necessary to correspond with the current years classification / disclosure

3. Personal accounts of the Parties, whether in debit or credit, are subject to confirmation of parties.

4. Other informations pursuant to Revised Schedule VI of the Companies Act, 1956 are not given, as the same are not applicable for the year

5. During the year the company has sold 88000 shares equivalent to 52.85% of subsidiary company Best Holdings Ltd. After the sale of said shares, the holding of the company in M/s Best Holdings Ltd has reduced to 46.25%. Hence Best Holdings Ltd is no longer subsidiary of Delta Industrial Resources Ltd

6. In the opinion of the Management, the value on realization of current/ Non Current Assets, loans & advances in the ordinary course of business will not be less than the amount at which they are stated in the Balance Sheet and all liabilities have been adequately provided for

7. Related Party Disclosure:

Details of transaction entered into with related parties during the year as required by Accounting Standard-18 on "Related Parties Disclosures" issued by Institute of Chartered Accountants of India are as under

List of Related Parties

Key Management Personnel Mr. R.S.Negi Mr. Sanjay Kumar Mr. G.Rajakumar

8. Advance for shares ?1370 hundreds represent cash received from 9 parties for which the company has to deliver the shares

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Mar 31, 2011

1. Figures for previous year have been regrouped and reclassified, wherever considered necessary.

2. The schedules A to F from an integral part of the Balance Sheet and Profit & Loss Account and have been duly authenticated.

3. Provision for tax for the year comprised estimated current income tax determined to be payable in respect of taxable income. The company has not recognised deferred tax for the year due to consideration of prudence as in the opinion of management sufficient future taxable income may not be available against which deferred tax assets can be realised.

4. Loans & Advances given by the Company are confirmed by the parties.

5. Payment/provision for payment to Auditors: Audit fees 11030/-, others services NIL, (Previous year Audit fees Rs. 7721/- , Income Tax Matters Rs.3309/-, other services Rs.4964/-.)

6. No provision has been made for the loss of Rs. 19,78,384/- till date incurred by the Subsidiary Company M/s Best Holdings Ltd. However, the accounts of the Subsidiary Company has been prepared on a going concern basis.

7. Related Party Disclosure:

Details of transaction entered into with related parties during the year as required by Accounting Standard 18 on "Related Parties Disclosures" issued by Institute of Chartered Accountants of India are as under:

8. Advance for shares Rs. 1,37,000/- represent cash received from 9 parties for v/hich the company has to deliver the shares.

9. Other Additional information is not applicable, therefore not given.