Accounting Policies of Ishwarshakti Holdings & Traders Ltd. Company

Mar 31, 2024

2 Summary of Significant Accounting Policies

(a) Basis of preparation and Presentation

The Ind As Financial Statements have been prepared In accordance with Indian Accounting Standards (Ind AS) as per
the Companies (Indian Accounting Standards) Rules, 2015 as amended from time to time and notified under section
133 of the Companies Act, 2013 (the Act) along with other relevant provisions of the Act, the guidelines Issued by
the RBI, wherever applicable and notification for Implementation of Indian Accounting Standard vide circular
RBI/2019-20/170 DOR(NBFC).CC.PD.No.l09/22.10.106/2019-20 dated March 13,2020 (*RBI Notification*) Issued by
RBI as applicable to NBFC. The Company uses accrual basis of accounting except In case of significant uncertainties.

(b) Basis of Measurement

The Ind AS Financial Statements have been prepared as a going concern on historical cost basis using Indian Rupees
as Its functional and reporting currency, which Is depicted as ‘Rs*. *INR* or T*. The Management has followed the
going concern as it Is satisfied that the Company shall be able to continue Its business for the foreseeable future and
no material uncertainty exists that may cast significant doubt on the going concern assumption. In making this
assessment, the Management has considered a wide range of Information relating to present and future conditions.
Including future projections of profitability, cash flows and capital resources.

(c) Fair Value Measurement

Fair value Is the price that would be received against sale of an asset or paid to transfer a liability in an orderly
transaction between the market participants at the measurement date.

The financial assets and liabilities are measured at fair value based on quoted market prices In active markets, or in
its absence thereof, using various valuation techniques. The Inputs to these models are taken from observable
markets where possible, but where this Is not feasible, a degree of Judgement is required In establishing fair values.
Changes In assumptions about these factors could affect the reported fair value of financial Instruments.

(d) Use of Estimates

The preparation of financial statements In conformity with Ind AS requires management to makes judgements,
estimates and assumptions, that affect the application of accounting policies and the reported amounts of assets,
liabilities, incomes and expenses at the date of these financial statements and the reported amounts of revenues
and expenses for the years presented. Such estimates have inherent uncertainties and a level of subjectivity
involved In measurement of items, It is possible that the outcomes In the subsequent financial years could differ
from those based on Management''s estimates.

Estimates and underlying assumptions are reviewed at each balance sheet date. Revisions to accounting estimates
are recognised In the period In which the estimate Is revised and future periods affected.

Key sources of estimation uncertainty at the date of financial statements, which may cause a material adjustments
to the carrying amounts of assets and liabilities within the next financial year, is In respect of useful lives of
property, plant and equipment, fair value of financial assets/llabllltles and Impairment of Investments, etc.

(e) Financial Instruments

A Financial Instruments (assets and liabilities) Is defined as any contract that gives rise to a financial asset of one
entity and a financial liability or equity instrument of another entity.

Financial Instruments are recognised when the Company becomes a party to the contractual provisions of the
instruments. For tradable securities, the company recognizes the financial Instruments on settlement date.

Financial assets and liabilities are Initially measured at fair value. Transaction costs that are directly attributable to
the acquisition or Issue of financial assets and financial liabilities are added to or deducted from the fair value of the
financial assets or financial liabilities, as appropriate, on Initial recognition.

Financial Assets:

Financial assets Include cash, or an equity Instrument of another entity, or a contractual right to receive cash or
another financial asset from another entity. Few examples of financial assets are loan receivables, investment In
equity and debt Instruments, trade receivable and cash and cash equivalents.

Financial assets are classified into various measurement categories as per Ind AS 109 ''Financial Instruments* and
Ind AS 32* Financial Instruments: Presentation" as follows.

I) Financial Assets measured at Amortized Cost:

A financial asset Is subsequently measured at Amortized Cost if it is held within a business model whose objective Is
to hold the asset in order to collect contractual cash flows and the contractual terms of the Financial Asset give rise
on specified dated to cash flows thar are solely payments of principal and interest on the principal amount
outstanding.

II) Debt Instruments at Fair Value Through Other Comprehensive Income (FVTOCI):

A debt Instrument is subsequently measured at FVTOCI If it Is held within a business model whose objective Is
achieved by both collecting contractual cash flows and selling financial assets and contractual terms of financial
asset give rise on specified dates to cash flows that are solely payments of principal and Interest on the principal
amount outstanding.

Debt instruments included within the FVTOCI category are measured at each reporting date at fair value with such
changes being recognized In Other Comprehensive Income (OCI).

The Interest Income on these assets Is recognized in the Statement of Profit and Loss.

III) Equity Instruments at Fair Value Through Other Comprehensive Income (FVTOCI):

An unquoted equity asset, not held for trading, is subsequently measured at FVTOCI at each reporting date at fair
value with such changes being recognized In the Statement of Profit and Loss.

The dividend income on these assets is recognized In the Statement of Profit and Loss.

Iv) Equity Instruments through Fair Value Through Profit and Loss Account (FVTPl):

Equity Investments that are not classified to be measured through FVTOCI are measured through FVTPL
Subsequent changes In fair value are recognized In the Statement of Profit and Loss.

The Company derecognizes a financial asset when the contractual cash flows from the asset expires or It transfers
its rights to receive contractual cash flows from the financial asset In a transaction In which substantially all the risks
and rewards of ownership are transferred. Any Interest in transferred financial assets that is created or retained by
the Company Is recognized as a separate asset or liability.

On derecognition of the asset, cumulative gains or loss previously recognized in OCI Is reclassified from OCI to the
Statement of Profit and Loss.

v) Investments In associate companies:

Investment In equity of associate companies are valued at cost less impairment. If any.
vl) Financial Liabilities and Equity Instruments:

An equity instruments is any contract that evidences a residual interest in the assets of an entity after deducting all
if its liabilities. Equity Instruments issued by the company Is recognized at the proceeds received, net of directly
attributable transaction cost.

Financial liabilities are liabilities that represent a contractual obligation to deliver cash or another financial assets to
another entity, or a contract that may or will be settled In the entity''s own quity instruments. Trade payables, debt
securities and other borrowings and subordinated debts are various types of financial liabilities.

After initial recognition, all financial liabilities are subsequently measured at amortized cost Any gains or losses
arising on derecognized of liabilities are recognized In the Statement of Profit and Loss.

A Financial liability is derecognized when the obligation under the liability is discharged, cancelled or expired.

f Impairment of Financial Assets:

The carrying values of Financial Assets are reviewed for any possible impairment at each balance sheet date. The
gross carrying amount of a financial asset Is written off (either partially or in full) to the extent that there is no
realistic prospect of recovery. This is generally the case when the Company determines that the debtor does not
have asset or sources of Income that could generate sufficient cash flows to repay the amounts subject to the write¬
off. However, financial assets that are written off could still be subject to enforcement activities under the
Company''s recovery procedures, taking into account legal advice where appropriate. Any recoveries made are
recognized In the Statement of Profit and Loss.

g Property, Plant & Equipment

Property, Plant & Equipment are carried at historical cost of acquisition less accumulated depreciation and
Impairment losses, consistent with the criteria specified in Ind AS 16 "Property, Plant & Equipment".

h Depredation

The Company has provided for depredation using the written down value method over the estimated useful life of
the assets as prescribed under part C of Schedule II of the Companies Act, 2013 as per the useful life specified
therein.

I Revenue Recognition

Interest Income from a financial asset is recognized when it Is probable that the economics benefits will flow to the
company and the amount of Income can be measured reliably.

Sale of shares and securities Is accounted on execution of contract notes.

Dividend Income on equity shares Is recognized when the Company''s right to receive the payment is established,
which is generally when shareholders approve the dividend. Dividends on trading inventory are recognized as
operating Income, while dividends on Investment are classified as "other income”.

J Expenses Recognition

Expenses are recognized on accrual basis along with Goods and Service Tax as the company is not registered under
the Goods and Service Tax law.

k Cash, cash equivalents and other bank deposits

Cash and cash equivalents include cash on hand and other short term, highly liquid investments with original
maturities of three months or less thar are readily convertible to known amounts of cash and which are subject to
an insignificant risk of changes in value.

Bank deposits with maturity exceeding three months are disclosed in ''Bank balance other than above* i.e.other
than cash and cash equivalents.

I Inventories

Inventories are valued at fair value has per Ind AS 109 ''Financial Instruments". Cost for the purpose of dosing stock
valuation has been taken on Market Value.

m Employee Benefits

Earned Leave by the employees is to be utilized or encashed In the same year, no carry forward of leave Is allowed.
No provision for gratuity has been made, as the provision of the Payment of Gratuity Act, 1972 is not applicable to
the Company.

n Direct Taxes
Current Tax

Current tax assets and liabilities are measured at the amount expected to be recovered from or paid to the taxation
authorities, In accordance with the Income Tax Act, 1961 and the Income Computation and Disclosure Standards
(ICDS) prescribed therein. The tax rates and tax law used to compute the amounts are those that are enacted or
substantively enacted, at the reporting date.

Minimum Alternate Tax (MAT)

MAT paid In accordance with the tax laws, which gives future economics benefits in the form of adjustment to
future Income tax liability, is considered as an asset if it is probable that the Company will pay normal Income tax
against which the MAT paid will be adjusted.

Deferred Tax ''

Deferred income tax is provided, using the liability method, on all temporary difference at the balance sheet date
between the tax bases of asset and the carrying amount liabilities used In the computation of taxable profit and
their carrying amounts in the financial statements for financial reporting purposes.

Deferred tax liabilities are recognized for all taxable temporary differences and deferred tax assets are recognized
for deductible temporary differences to the extent that it is probable that taxable profits will be available against
which the deductible temporary differences can be utilized.

The carrying amount of deferred tax assets is reviewed at each reporting date and reduced to the extent that It Is no
longer probable that sufficient taxable profit will be available to allow ail or part of the deferred tax asset to be
utilized. Unrecognized deferred tax assets. If any, are reassessed at each reporting date and are recognized to the
extent that It has become probable that future taxable profits will allow the deferred tax asset to be recovered.
Deferred tax asset and liabilities are measured at the tax rates that are expected to apply in the year when the asset
is realized or the liability is settled, based on tax rates (and tax laws) that have been enacted or substantively
enacted at the reporting date.

Deferred tax relating to Items recognized outside the Statement of Profit and Loss Is recognized either In OCI or In
Other Equity.

Deferred tax asset and deferred tax liabilities are offset if a legally enforceable right exists to set off current tax
assets against current tax liabilities and the deferred taxes relate to the same taxable entity and the same taxation
authority.

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Mar 31, 2014

A Basis of Accounting :

The financial statements are prepared under historical cost convention on an accrual basis and are in accordance with the requirements of the Companies Act, 1956 and as per the guidelines issued by the Reserve Bank of India, wherever applicable.

B Revenue Recognition :

Interest and other dues are accounted for on accrual basis except in respect of non-performing assets which income is recognised on cash basis. .

C Provision for Doubtful Debts and Written-off of Bad Debts:

Debts specifically considered fully or partially irrecoverable are written-off and Provision against sub-standard and doubtful assets is made in accordance with the guidelines issued by Reserve Bank of India. Sums recovered against debts earlier written off and provision no longer considered necessary in the context of the current status of the borrower are written back.

D Fixed Assets:

Fixed assets are stated at cost of acquisition less accumulated depreciation.

E Depreciation:

The depreciation has been provided on Written Down Value Method as per rates specified in Schedule XIV of the Companies Act, 1956.

F Investments;

Investments are stated at cost of acquisition & provision for diminution is made if fall in value is other than temporary in nature. Dividends are accounted for when received.

G Inventories :

Inventories are vaued at lower of average cost or market price. Cost for the purpose of closing stock valuation has been taken on annual average basis.

H Retirement Benefits:

(a) Earned leave by the employees is to be utilised or encashed in the same year, no carry forward of leave is allowed.

(b) No provision for gratuity has been made, as no employee has yet put in the qualifying period for service for entitlement to this benefit.

I Contingent Liabilities:

These are disclosed by way of notes to accounts.

J Taxation :

Provision is made for Income Tax liability estimated to arise on the results for the year at the current rate of tax in accordance with Income Tax Act, 1961. Deferred income tax is provided, using the liability method, on all temporary differences at the Balance Sheet date between the tax bases of assets and their carrying amounts liabilities and for financial reporting purpose.

Deferred tax assets are recognised only to the extent that there is a reasonable certainty that sufficient future taxable profits will be available against which such deferred tax assets can be realised.

Deferred tax assets and liabilities are measured using the tax rates and the law that have been enacted or subsequently enacted at the Balance Sheet date. llW''i

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Mar 31, 2013

A Baste of Accounting :

The financial statements are prepared under historical cost convention on an accrual basis and are in accordance with the requirements of the Companies Act, 1956 and as per the guidelines issued by the Reserve Bank of India, wherever applicable,

B Revenue Recognition :

Interest and other dues are accounted for on accrual basis except in respect of non-performing assets which income is recognised on cash basis.

C Provision for Doubtful Debts and Written-off of Bad Debts :

Debts specifically considered Fully or partially irrecoverable are written-off and Provision against sub-standard and doubtful assets is made in accordance with the guidelines issued by Reserve Bank of India. Sums recovered against debts earlier written off and provision no longer considered necessary In the context of the current status of the borrower are written back,

D Fixed Assets:

Fixed assets are stated at cost of acquisition less accumulated depreciation,

E Depreciation:

The depreciation has been provided on Written Down Value Method as per rates specified in Schedule XIV of the Companies Act, 19SG.

F Investments:

investments are stated at cost of acquisition & provision for diminution is made if fall in value is other than temporary in nature. Dividends are accounted for when received.

G Inventories:

Inventories are vaued at lower of average cost or market price. Cost for the purpose of closing stock valuation has been taken on annual average basis.

H Retirement Benefits :

(a) Earned leave by the employees is to be utilised or encashed in the same year, no carry forward of leave is allowed.

(b) No provision for gratuity has been made, as no employee has yet put in the qualifying period for service for entitlement to this benefit,

I Contingent Liabilities: These are disclose by way of notes to accounts.

J Taxation;

Provision is made for Income Tax liability estimated to arise on the results for the year at the current rate of tax in accordance with Income Tax Act, 1961.

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Mar 31, 2012

A Basis of Accounting :

The financial statements are prepared under historical cost convention on an accrual basis and are in accordance with the requirements of the Companies Act, 1956 and as per the guidelines issued by the Reserve Bank of India, wherever applicable.

B Revenue Recognition:

Interest and other dues ace accounted for on accrual basis except in respect of non-performing assets which income is recognised on cash basis.

C Provision for Doubtful Debts and Written-off of Bad Debts :

Debts specifically considered fully or partially irrecoverable are written-off and Provision against sub-standard and doubtful assets is made in accordance with the guidelines issued by Reserve Bank of India. Sums recovered against debts earlier written off and provision no longer considered necessary in the context of the current status of the borrower are written back.

D Fixed Assets :

Fixed assets are stated at cost of acquisition less accumulated depreciation.

E Depreciation:

The depreciation has been provided on Written Down Value Method as per rates specified in Schedule XIV of the Companies Act, 1956.

F Investments:

Investments are stated at cost of acquisition & provision for diminution is made if fall in value is other than temporary in nature. Dividends are accounted for when received.

G Inventories:

Inventories are valued at lower of average cost or market price. Cost for the purpose of closing stock valuation has been taken on annual average basis.

H Retirement Benefits:

(a) Earned leave by the employees is to be utilised or encashed in the same year, no carry forward of leave is allowed.

(b) No provision for gratuity has been made, as no employee has yet put in the qualifying period for service for entitlement to this benefit

I Contingent Liabilities:

These are disclosed by way of notes to accounts.

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Mar 31, 2010

NOt Available