Notes to Accounts of GK Consultants Ltd.

Mar 31, 2025

2.14 Provisions, contingent liabilities and contingent assets

The Company creates a provision when there is a present obligation as a result of past events
and it is probable thatthere will be outflow of resources and a reliable estimate of the
obligation can be made of the amount of the obligation.

Contingent liabilities are not recognised but are disclosed in the notes to the financial
statements. A disclosure for a contingent liability is made when there is a possible obligation
or a present obligation that may, but probably will not, require an outflow of resources.
When there is a possible obligation or a present obligation in respect of which the
likelihoodof outflow of resources is remote, no provision or disclosure is made.

Provisions are reviewed at each balance sheet date and adjusted to reflect the current best
estimate. If it is no longerprobable that the outflow of resources would be required to settle
the obligation, the provision is reversed.

Contingent assets are neither recognised nor disclosed in the financial statements.

2.15 Statement of Cash Flows

Statement of Cash Flows is prepared segregating the cash flows into operating, investing
andfinancing activities. Cash flow from operating activities is reported using indirect
methodadjusting the net profit for the effects of:

i. changes during the period in operating receivables and payables transactions of a non¬
cash nature;

ii. non-cash items such as depreciation, provisions, deferred taxes, unrealised foreign
currency gains and losses, and undistributed profits of associates and joint ventures; and

iii. all other items for which the cash effects are investing or financing cash flows. Cash
and cash equivalents (including bank balances) shown in the Statement of Cash Flows
exclude items which are not available for general use as on the date of Balance Sheet.

2.16 Other accounting policies

Non-material accounting policies encompass those that hold importance for the Company''s
financial statements without being material in terms of their impact on the financial
statements.

Segment reporting

Operating segments are reported in a manner consistent with the internal reporting provided
to the chief operating decision maker. The Company’s primary business segments are
reflected based on the principal business carried out, i.e. lending activities as Non-Banking
Finance Company (NBFC) regulated by the Reserve Bank of India (‘RBI’). The risk and
returns of the business of the Company is not associated with geographical segmentation,
hence there is no secondary segment.

2.17 Recent accounting pronouncements

Ministry of Corporate Affairs (“MCA”) notifies new standards or amendments to the
existing standards under Companies (Indian Accounting Standards) Rules as issued from
time to time. For the year ended 31 March, 2024, MCA has not notified any new standards
or amendments to the existing standards applicable to the Company.

2.18 Ministry of Corporate Affairs (“MCA”) notifies new standard or amendments to the existing
standards under Companies (Indian Accounting Standards) Rules as issued from time to
time. On 31 March, 2023, MCA amended the Companies (Indian Accounting Standards)
Rules, 2015 by issuing the Companies (Indian Accounting Standards) Amendment Rules,
2023, applicable from 1 April, 2023, as below:

a. Ind AS 1 - Presentation of Financial Statements

The amendments require companies to disclose their material accounting policies rather than
their significant accounting policies. Accounting policy information, together with other
information, is material when it can reasonably be expected to influence decisions of
primary users of general-purpose financial statements. The Company does not expect this
amendment to have any significant impact in its financial statements.

b. Ind AS 12 - Income Taxes

The amendments clarify how companies account for deferred tax on transactions such as
leases and decommissioning obligations. The amendments narrowed the scope of the
recognition exemption in paragraphs 15 and 24 of Ind AS 12 (recognition exemption) so that
it no longer applies to transactions that, on initial recognition, give rise to equal taxable and
deductible temporary differences. The Company does not expect this amendment to have
any significant impact in its financial statements.

c. Ind AS 8 - Accounting Policies, Changes in Accounting Estimates and Errors

The amendments will help entities to distinguish between accounting policies and
accounting estimates. The definition of a change in accounting estimates has been replaced
with a definition of accounting estimates. Under the new definition, accounting estimates are
“monetary amounts in financial statements that are subject to measurement uncertainty”.
Entities develop accounting estimates if accounting policies require items in financial
statements to be measured in a way that involves measurement uncertainty. The Company
does not expect this amendment to have any significant impact in its financial statements.

Reason for variance (if above 25%)

1. The variation in Debt service Coverage Ratio is above 25% because there is no outstanding debt during the year.

2. The variation in Return on Equity is above 25% because the profits of the company has been reduced in comparision with the FY 2023-24.

3. Variance in Inventory Turnover ratio is because neither the company has purchased any stock nor it has sold any stock during the FY 2024-25.

4. Variance in Trade Receivable Turnover ratio is because neither the company has purchased any stock nor it has sold any stock during the FY
2024-25.

5. Variance in Trade Payables Turnover ratio is because neither the company has purchased any stock nor it has sold any stock during the FY
2024-25.

6. Capital turnover ratio has decreased as compared to previous year due to decrease in working capital.

7. The variation in Net Profit Ratio is above 25% because the profits of the company has been reduced in comparision with the FY 2023-24.

8. The variation in Return on Capital employed is above 25% because the profits of the company has been reduced in comparision with the FY
2023-24.

28. Additional information to the financial statement and disclosure under Indian

Accounting standards and Companies Act, 2013:

28.1 Share application money pending allotment

The company has not received any share application money which is pending for
allotment.

28.2 Contingent liabilities and commitments (to the extent not provided for)

28.3 Disclosure as per the Listing Agreements with the Stock Exchanges/SEBI (LODR),
2015

Loans and advances in the nature of loans given to subsidiaries, associates and investment
in shares of the Company of such parties are nil.

28.4 Details on derivatives instruments and unhedged foreign currency exposures

The derivative transaction was done under normal course of business. There were no
foreign currency dealings & exposures.

28.5 Value of imports calculated on CIF basis

Not applicable to the company.

28.6 Expenditure in foreign currency

No foreign currency expenditure was incurred by the company during the Financial Year.

28.7 Details of consumption of imported and indigenous items

Not applicable to the company because it is not engaged in manufacturing activities.

28.8 Earnings in foreign exchange

There were no earnings in foreign exchange.

28.9 Amounts remitted in foreign currency during the year on account of dividend

Not Applicable to the company.

28.10 Details of contract revenue and costs

The company is RBI approved NBFC, and all revenues & expenses are accounted for on
an accrual basis. There were no construction-related contracts.

28.11 Details of government grants

The Company has not received any government grant either in the year ended 31.3.2025
or in the year ended 31.3.2024.

28.12 Details of amalgamations

The company has neither floated/approved any scheme of amalgamations nor participated in
any such scheme.

28.13 Employee benefit plans

As per terms of employment, the employees are not entitled to any other benefit e.g. PF,
Gratuity, Pension, etc. except the annual salary and ex-gratia allowance paid for their work.

28.14 Details of borrowing costs capitalized

There were no such borrowings either in the year ended 31.3.2025 nor in the year ended
31.3.2024.

28.15 Segment information

The segment wise information for Income & Profits is as under but considering nature of
business it is not possible to segregate assets segment wise-

The Company has recognized deferred tax on difference in value of fixed assets as per
Income Tax Laws and as per Companies Act.

28.20 Discontinuing operations

The company has not discontinued any operations which it was carrying on in past as per
its main business objects.

28.21 Details of research and development expenditure recognized as an expense

No specific expenditure has been incurred on research & development considering nature
of business of the company. The company is mainly engaged in financial activities as
NBFC and keeps incurring expenditure to upgrade technology from time to time.

28.22 Interest in joint ventures

The company has no interest, right and sharing in any joint venture project.

28.23 Details of provisions

The Company has not made any provision for any contractual obligations and disputed
liabilities because no such obligation or liability was pending at year end.

28.24 Employee Stock Option Scheme

The company has never issued any ESOP and therefore, no disclosure is required to be
made in this connection.

28.25 Disclosure under Micro, Small and Medium Enterprises Development Act, 2006

There are no Micro and Small-Scale Business Enterprises, to whom the Company owes
dues, which are outstanding for more than 45 days as at March 31, 2024 as per the
information of parties or organizations under Micro, Small and Medium Enterprises
(MSME) is available with the company. This information as required to be disclosed
under the Micro, Small and Medium Enterprises Development Act, 2006 has been
determined to the extent such parties have been identified on the basis of information
available with the Company.

28.26 The disclosure on the following matters required under Schedule III as amended not being
relevant or applicable in case of the Company, same are not covered:

a. The Company has not traded or invested in crypto currency or virtual currency
during the financial year

b. No proceedings have been initiated or are pending against the Company for
holding any benami property under the Benami Transactions (Prohibition) Act,
1988 (45 of 1988) and rules made thereunder

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

d. No satisfaction of charges is pending to be filed with ROC

e. There are no transactions which are not recorded in the books of account which
have been surrendered or disclosed as income during the year in the tax
assessments under the Income Tax Act, 1961.

f. The Company has performed an assessment to identify transactions with struck
off companies as at 31 March 2025 and no such company was identified.

28.27 Note on Previous year’s figures

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

The accompanying notes are an integral part of the standalone financial statements

In terms of our report attached. For and on behalf of the Board of Directors

For Vinod Kumar Gupta & Associates

Chartered Accountants

FIRM’S REGISTRATION NO. 002377C

CA. NIKHIL GUPTA BAKHSHISH GUPTA SAROJ GUPTA

PARTNER (Director) (Managing Director)

M.N. 403014 DIN - 09466909 DIN - 07793920

ICAI UDIN: 25403014BMJLGJ3028

Date: 07.06.2025 CS. KHUSHAMBI SINGHAL PRADEEP KUMAR MISHRA

Place: Delhi (Company Secretary) (CFO)

Membership No. 71921 PAN: ADGPM5206P

---

Mar 31, 2024

2.14 Provisions, contingent liabilities and contingent assets

The Company creates a provision when there is a present obligation as a result of past events
and it is probable thatthere will be outflow of resources and a reliable estimate of the
obligation can be made of the amount of the obligation.

Contingent liabilities are not recognised but are disclosed in the notes to the financial
statements. A disclosure for acontingent liability is made when there is a possible obligation
or a present obligation that may, but probably will not, require an outflow of resources.
When there is a possible obligation or a present obligation in respect of which the
likelihoodof outflow of resources is remote, no provision or disclosure is made.

Provisions are reviewed at each balance sheet date and adjusted to reflect the current best
estimate. If it is no longerprobable that the outflow of resources would be required to settle
the obligation, the provision is reversed.

Contingent assets are neither recognised nor disclosed in the financial statements.

2.15 Statement of Cash Flows

Statement of Cash Flows is prepared segregating the cash flows into operating, investing
andfinancing activities. Cash flow from operating activities is reported using indirect
methodadjusting the net profit for the effects of:

i. changes during the period in operating receivables and payables transactions of a non¬
cash nature;

ii. non-cash items such as depreciation, provisions, deferred taxes, unrealised foreign
currency gains and losses, and undistributed profits of associates and joint ventures; and

iii. all other items for which the cash effects are investing or financing cash flows. Cash
and cash equivalents (including bank balances) shown in the Statement of Cash Flows
exclude items which are not available for general use as on the date of Balance Sheet.

2.16 Other accounting policies

Non-material accounting policies encompass those that hold importance for the Company''s
financial statements without being material in terms of their impact on the financial
statements.

Segment reporting

Operating segments are reported in a manner consistent with the internal reporting provided
to the chief operating decision maker. The Company’s primary business segments are
reflected based on the principal business carried out, i.e. lending activities as Non-Banking
Finance Company (NBFC) regulated by the Reserve Bank of India (‘RBI’). The risk and
returns of the business of the Company is not associated with geographical segmentation,
hence there is no secondary segment.

2.17 Recent accounting pronouncements

Ministry of Corporate Affairs (“MCA”) notifies new standards or amendments to the
existing standards under Companies (Indian Accounting Standards) Rules as issued from
time to time. For the year ended 31 March, 2024, MCA has not notified any new standards
or amendments to the existing standards applicable to the Company.

2.18 Ministry of Corporate Affairs (“MCA”) notifies new standard or amendments to the existing
standards under Companies (Indian Accounting Standards) Rules as issued from time to
time. On 31 March, 2023, MCA amended the Companies (Indian Accounting Standards)
Rules, 2015 by issuing the Companies (Indian Accounting Standards) Amendment Rules,
2023, applicable from 1 April, 2023, as below:

a. Ind AS 1 - Presentation of Financial Statements

The amendments require companies to disclose their material accounting policies rather than
their significant accounting policies. Accounting policy information, together with other
information, is material when it can reasonably be expected to influence decisions of
primary users of general-purpose financial statements. The Company does not expect this
amendment to have any significant impact in its financial statements.

b. Ind AS 12 - Income Taxes

The amendments clarify how companies account for deferred tax on transactions such as
leases and decommissioning obligations. The amendments narrowed the scope of the
recognition exemption in paragraphs 15 and 24 of Ind AS 12 (recognition exemption) so that
it no longer applies to transactions that, on initial recognition, give rise to equal taxable and
deductible temporary differences. The Company does not expect this amendment to have
any significant impact in its financial statements.

The amendments will help entities to distinguish between accounting policies and
accounting estimates. The definition of a change in accounting estimates has been replaced
with a definition of accounting estimates. Under the new definition, accounting estimates are
“monetary amounts in financial statements that are subject to measurement uncertainty”.
Entities develop accounting estimates if accounting policies require items in financial
statements to be measured in a way that involves measurement uncertainty. The Company
does not expect this amendment to have any significant impact in its financial statements.

26. Additional information to the financial statement and disclosure under Indian
Accounting standards and Companies Act, 2013:

26.1 Monies received against share warrants

The company has not created, offered or issued any share warrants and not received any
money against the same.

26.2 Share application money pending allotment

The company has not received any share application money which is pending for allotment.

26.3 Contingent liabilities and commitments (to the extent not provided for)

26.4 Details of unutilized amounts out of issue of securities made for specific purpose

Not applicable to the company.

26.5 Disclosures required under Section 22 of the Micro, Small and Medium Enterprises
Development Act, 2006

Dues to Micro and Small Enterprises are nil on the basis of information collected by the
Management.

26.6 Disclosure as per the Listing Agreements with the Stock Exchanges/SEBI (LODR), 2015

Loans and advances in the nature of loans given to subsidiaries, associates and investment in
shares of the Company of such parties are nil.

26.7 Details on derivatives instruments and unhedged foreign currency exposures

The derivative transaction was done under normal course of business. There were no foreign
currency dealings & exposures.

26.8 Disclosure required in terms of Clause 13.5A of Chapter XIII on Guidelines for
preferential issues, SEBI (Disclosure and Investor Protection) Guidelines, 2000

There was no preferential issue during the year ended 31 March 2024 as well as in the
Previous Year ended 31 March 2023.

26.9 Value of imports calculated on CIF basis

Not applicable to the company.

26.10 Expenditure in foreign currency

No foreign currency expenditure was incurred by the company during the Financial Year.

26.11 Details of consumption of imported and indigenous items

Not applicable to the company because it is not engaged in manufacturing activities.

26.12 Earnings in foreign exchange

There were no earnings in foreign exchange.

26.13 Amounts remitted in foreign currency during the year on account of dividend

Not Applicable to the company.

26.14 Details of contract revenue and costs

The company is RBI approved NBFC and all revenues & expenses are accounted for on
accrual basis. There was no construction related contracts.

26.15 Details of government grants

The Company has not received any government grant either in the year ended 31.3.2024 or in
the year ended 31.3.2023.

26.16 Details of amalgamations

The company has neither floated/approved any scheme of amalgamations nor participated in
any such scheme.

26.17 Employee benefit plans

As per terms of employment, the employees are not entitled to any other benefit e.g. PF,
Gratuity, Pension, etc. except the annual salary and ex-gratia allowance paid for their work.

26.18 Details of borrowing costs capitalized

There were no such borrowings neither in the year ended 31.3.2024 nor in the year ended
31.3.2023.

26.19 Segment information

The segment wise information for Income & Profits is as under but considering nature of
business it is not possible to segregate assets segment wise-

26.24 Discontinuing operations

The company has not discontinued any operations which it was carrying on in past as per its
main business objects.

26.25 Details of research and development expenditure recognized as an expense

No specific expenditure has been incurred on research & development considering nature of
business of the company. The company is mainly engaged in financial activities as NBFC and
keeps incurring expenditure to upgrade technology from time to time.

26.26 Interest in joint ventures

The company has no interest, right and sharing in any joint venture project.

26.27 Details of provisions

The Company has not made any provision for any contractual obligations and disputed
liabilities because no such obligation or liability was pending at year end. However, disputed
income tax liabilities are disclosed under contingent liabilities.

26.28 Employee Stock Option Scheme

The company has never issued any ESOP and therefore, no disclosure is required to be made
in this connection.

26.29 Disclosure under Micro, Small and Medium Enterprises Development Act, 2006

There are no Micro and Small-Scale Business Enterprises, to whom the Company owes dues,
which are outstanding for more than 45 days as at March 31, 2024 as per the information of
parties or organizations under Micro, Small and Medium Enterprises (MSME) is available
with the company. This information as required to be disclosed under the Micro, Small and
Medium Enterprises Development Act, 2006 has been determined to the extent such parties
have been identified on the basis of information available with the Company.

26.30 The disclosure on the following matters required under Schedule III as amended not being
relevant or applicable in case of the Company, same are not covered:

a. The Company has not traded or invested in crypto currency or virtual currency during
the financial year

b. No proceedings have been initiated or are pending against the Company for holding
any benami property under the Benami Transactions (Prohibition) Act, 1988 (45 of
1988) and rules made thereunder

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

d. No satisfaction of charges is pending to be filed with ROC

e. There are no transactions which are not recorded in the books of account which have
been surrendered or disclosed as income during the year in the tax assessments under
the Income Tax Act, 1961.

f. The Company has performed an assessment to identify transactions with struck off
companies as at 31 March 2024 and no such company was identified.

Reason for variance (if above 25%)

1. Variance in Inventory Turnover ratio is because the company has sold all of its stock during the FY 2023-24

2. Capital turnover ratio has increased as compared to previous year due to increase in working capital.

The accompanying notes are an integral part of the standalone financial statements

In terms of our report attached. For and on behalf of the Board of Directors

For Vinod Kumar Gupta & Associates

Chartered Accountants

FIRM’S REGISTRATION NO. 002377C

CA. NIKHIL GUPTA RAJAN GUPTA DIVYA MALINI GUPTA

PARTNER (Director) (Managing Director)

M.N. 403014 DIN - 00849668 DIN - 00006225

ICAI UDIN: 24403014BKAOLI2190

Date: 30.05.2024 CS. KHUSHAMBI SINGHAL SAROJ GUPTA

Place: New Delhi (Company Secretary) (CFO)

Membership No. 71921 PAN: AEFPG4705F

---

Mar 31, 2013

1 Corporate information

M/s G.K. Consultants Limited is a Non Banking Financial Company registered with RBI. The company is engaged in business of consultancy, share trading, investment, hiring of assets, software business and other activities of a non banking finance company. It''s registered office is situated in Delhi.

2 Details of unutilised amounts out of issue of securities made for specific purpose Not applicable to the company.

3 Disclosures required under Section 22 of the Micro, Small and Medium Enterprises Development Act, 2006 Dues to Micro and Small Enterprises are nil on the basis of information collected by the Management. This has been relied upon by the auditors.

4 Disclosure as per Clause 32 of the Listing Agreements with the Stock Exchanges Loans and advances in the nature of loans given to subsidiaries, associates and others and investment in shares of the Company of such parties are nil.

5 Details on derivatives instruments and unhedged foreign currency exposures The derivative transaction were done under normal course of business. At the end of the financial year, there were no outstandings. There were no foreign currency dealings & exposures.

6 Disclosure required in terms of Clause 13.5A of Chapter XIII on Guidelines for preferential issues, SEBI (Disclosure and Investor Protection) Guidelines, 2000

There was no preferential issue during the year ended 31 March 2013.

7 Details of fixed assets held for sale No assets were held for sale neither on 31.3.2013 nor on 31.3.2012.

8 Value of imports calculated on CIF basis Not applicable to the company.

9 Expenditure in foreign currency No foreign currency expenditure in the company.

10 Details of consumption of imported and indigenous items Not applicable to the company because it is not engaged in manufacturing activities. But the company has purchased fabric for sale and whole of the purchased material has been sold out during the year.

11 Earnings in foreign exchange @@: There were no earnings in foreign exchange.

12 Amounts remitted in foreign currency during the year on account of dividend Not Applicable to the company.

13.01 Details of contract revenue and costs (AS-7)

The company is a RBI approved NBFC and all revenues & expenses are accounted for on accrual basis. There were no construction related contracts.

13.02 Details of government grants (AS-12)

The Company has not received any government grant either in the year ended 31.3.2013 or in the year ended 31.3.2012.

13.03 Details of amalgamations (AS-14)

The company has neither floated/approved any scheme of amalgamations nor participated in any such scheme.

13.04 Employee benefit plans (AS-15)

As per terms of employment, the employees are not entitled to any other benefit e.g. PF, Gratuity, Pension, etc except the annual salary and ex-gratia allowance paid for their work.

13.05 Details of borrowing costs capitalised (AS-16)

There were no such borrowings neither in the year ended 31.3.2013 nor in the year ended 31.3.2012.

13.06 Discontinuing operations (AS-24)

The company has not discontinued any operations which it was carrying on in past as per its main business objects.

13.07 Details of research and development expenditure recognised as an expense (AS-26)

No specific expenditure has been incurred on reserarch & development considering nature of business of the company. The company is manily engaged in financial activities as NBFC and keeps incurring expenditure to upgrade technology from time to time.

13.08 Interest in joint ventures (AS-27)

The company has no interest, right and sharing in any joint venture project.

13.09 Details of provisions (AS-29)

The Company has not made any provision for any contractual obligations and disputed liabilities because no such obligation or liability was pending at year end. However, disputed income tax liabilities are disclosed under contingent liabilities.

14 Employee Stock Option Scheme

The company has never issued any ESOP and therefore, no disclosure is required to be made in this connection.

15 Note on Previous year''s figures

The Revised Schedule VI has become effective from 1 April, 2011 for the preparation of financial statements. This has significantly impacted the disclosure and presentation made in the financial statements. Previous year''s figures have been regrouped / reclassified wherever necessary to correspond with the current year''s classification / disclosure.

---

Mar 31, 2010

1. Grouping

Previous year figures have been re-grouped wherever considered necessary.

2. Compliances

The company is a Non-Banking Financial Company (NBFC) within the meaning of Reserve Bank of India (Amendment) Act, 1997. Under the NBFC Guidelines issued by the RBI on January 2, 1998, it is categorized as "NBFC not accepting deposits and engaged in loan/investment activity".

As required by the RBI guidelines:

i. The company has been granted registration under Sec 45-IA of the RBI Act.

ii. The Board of Directors of the company has passed a resolution to the effect that it will not accept any public deposit.

Prudential norms as applicable to NBFCs and prescribed by RBI are not applicable to the company, as it is having Net Owned Funds exceeding Rs. 25.00 lacs/Rs. 200.00 lacs & it does not accept Public Deposits.

3. Foreign Exchange Transactions

The company has neither received/earned nor paid any amount in foreign exchange.

4. Related Party Disclosure

In accordance with the requirements of the Accounting Standard (AS)-18 on "Related Party Disclosures", the names of the related parties where control exists and/or with whom transactions have taken place during the year and description of relationships, as identified and certified by the management are:

List of Related Parties:

Divas Construction Company Private Limited

- Common Director - Shri Anil Kumar Goel

- Common Director - Shri Suboadh Gupta

Transaction with Related Parties

Rent of Rs. 90000/- is paid to Divas Construction Company Private Limited for Office Accommodation.

5. Contingent Liability

a) There is a net contingent liability of disputed income tax dues of Rs 666371/- and Interest thereon. The total disputed income tax liability is of Rs. 1551442/- and interest thereon and out of which Rs. 885071/- has already been deposited by company under dispute with I.T. Department to avoid any coercive action against it. The said amount has been levied as income tax for the Asst. Year 1998-99 and the company has filed an appeal in CIT (A), XV, New Delhi against the impugned order of the Assessing Officer which is pending as on date. No provision of said contingent liability has been made in books of account by the company.

b) There is another contingent liability of disputed income tax dues of Rs 14651102/- and Interest thereon. The said amount has been levied as income tax for the Asst. Year 2004-05 and the company has filed an appeal in CIT (A), XV, New Delhi against the impugned order of the Assessing Officer which is pending as on date. No provision of said contingent liability has been made in books of account by the company.