Notes to Accounts of Megh Mayur Infra Ltd.

Mar 31, 2024

(F) Provisions and Contingent Liabilities: [Ind AS 37]

A provision is recognised when the company has a present obligation as a result 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 estimates required to settle the obligation at the balance sheet
date.

A contingent liability is a possible obligation that arises from past events whose existence will
be confirmed by the occurrence or non-occurrence of one or more uncertain future events beyond
the control of the company or a present obligation that is not recognized because it is not probable
that an outflow of resources will be required to settle the obligation. A contingent liability also
arises in extremely rare cases where there is a liability that cannot be recognized because it
cannot be measured reliably.

Contingent Liabilities- NIL

(G) Financial instruments: [Ind AS 109]

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:

Classification and Measurement

The Company classifies its financial assets in the following measurement categories:

• those to be measured subsequently at fair value (either through other comprehensive
income, or through the Statement of Profit and Loss), and

• those measured at amortized cost.

Financial Liability:

Classification and Measurement

Financial Liability comprises of trade payables which are also recognized initially at amortized
cost.

Amortization cost for financial assets represents amount at which financial asset is measured
at initial recognition minus prepaid rent plus/ minus cumulative amortization using the

(I) Cash and cash equivalents:

For the purpose of presentation in the Statement of Cash Flows, Cash and Cash Equivalents
includes Cash on hand, balance with banks and demand deposits with banks and other short term
highly liquid investments that are readily convertible into cash and which are subject to an
insignificant risk of changes in value.

NOTE NO. 14. Previous year''s figures have been regrouped and recasted wherever necessary.

NOTE NO. 15. Additional regulatory information required by Schedule III of Companies Act, 2013

(i) The Company does not have any property, plant and equipment or intangible assets during the
current or previous year.

(ii) 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 the rules made
thereunder.

(iii) The Company has no transactions with struck off companies during the year.

(iv) The Company does not have any charges or satisfaction which is yet to be registered with
Registrar of Companies beyond the statutory period as the company has not taken any loan.

(v) The Company has not entered into any scheme of arrangement in terms of sections 230 to 237
of the Companies Act, 2013, which has an accounting impact on current or previous financial
year.

(vi) The Company has not advanced or loaned funds to any persons or entities, including foreign
entities (Intermediaries) with the understanding that the Intermediary shall:

a. 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

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

(vii) The Company has 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 Company 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

(viii) There is no income surrendered or disclosed as income during the current or previous year in the
tax assessments under the Income Tax Act, 1961, that has not been recorded in the books of
account.

(ix) The Company has not traded or invested in crypto currency or virtual currency during the current
or previous year.

_FO_{R H T} K S & CO ^F°^{r Megh Mayur} Iⁿf^ra Limited

CHARTERED ACCOUNTANTS

CA. HARISHANKAR TOSNIWAL Seiyam R. Shah Rajendra S. Shah Divya Mutneja

₎ DIN: 09094634 DIN: 01765634 ACS52288

(P^ARTNER) (Director) (Managing Director) (CS & CFO)

M. No.: 055043

FRN: 0111032W

Place: SURAT

Date: 29.05.2024

UDIN:24055043BKBGQB2533

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Mar 31, 2014

1. Contingent liability in respect of bills discounted with bank is Rs. Nil.

2. There is no employee who was in receipt of remuneration, which in aggregate was more than Rs. 60,00,000/- per annum if employed throughout the year and not less than Rs. 5,00,000/- per month if employed for part of the year.

3. The Company is taking necessary steps to appoint full time Company Secretary as required under Section 203 of the Companies Act, 2013.

4. Related party disclosure:

Related parties disclosures, as required by AS-18, "Related Party Disclosure" are given below:

(i) Key Managerial person:

Mitul J. Shah, Rajendra S. Shah.

(ii) List of entities under common control:

Abhishek Apartments Pvt. Ltd., Abhyudaya Textiles Pvt. Ltd., Bella Apartments Pvt. Ltd., Bhavik Properties Pvt. Ltd., Darshan Apartments Pvt. Ltd., Dharmarth Construction Pvt. Ltd., Jasumati Properties Pvt. Ltd., Kamla Flats Pvt. Ltd., Ketan Properties Pvt. Ltd., Lalita Apartments Pvt. Ltd., Manilal Properties Pvt. Ltd., Maulik Properties Pvt. Ltd., Mayur Shops Pvt. Ltd., Megh Mayur Reality Pvt. Ltd., Meghna Apartments Pvt. Ltd., Mitul Construction Pvt. Ltd., Mitul Flats Pvt. Ltd., Mitul Hotels Pvt. Ltd., Mitul Sanjay Holdings Pvt. Ltd., Mruga Properties Pvt. Ltd., Nami Properties Pvt. Ltd., Nutan Apartments Pvt. Ltd., Poojan Properties Pvt. Ltd., Prabhu Prathna Apartments Pvt. Ltd., Prabhu Pratishtha Flats Pvt. Ltd., Preeti Flats Pvt. Ltd., Rutvan Hotels Pvt. Ltd., Sanjay Flats Pvt. Ltd., Sarswat Properties Pvt. Ltd., Sarthak Proeprties Pvt. Ltd., Sarthi Properties Pvt. Ltd., Sumeru Properties Pvt. Ltd., Sumeru Textiles Pvt. Ltd., Sunish Apartments Pvt. Ltd., Tribhavan Properties Pvt. Ltd., Vandan Properties Pvt. Ltd., Vasupunjay Construction Pvt. Ltd., Vimalnath Properties Pvt. Ltd., Java Realities Pvt. Ltd., Silver Arch Flats Pvt. Ltd., Shruti Park Pvt. Ltd., Sanskruti Flats Pvt. Ltd., Samarth Flats Pvt. Ltd., Samrat Apartments Pvt. Ltd., Sashwat Park Pvt. Ltd., Siddhchal Properties Pvt. Ltd., Siddharth Flats Pvt. Ltd., Megh Mayur Associates, Chimanlal Corporation, Samruddhi Corporation, Arihant Corporation, Darshan Ratna Buildcon LLP.

5. Inventories:

Closing Stock - WIP is valued at cost consisting of land development, construction, development, administration and other expenses or market value whichever is lower.

6. Computation of Deferred Tax Liabilities:

Deferred tax assets, in respect of carried forward losses of prior years, have not been recognised in the books as there is neither virtual certainty nor any convincing evidence that sufficient future taxable income will be available against which such deferred tax assets can be realised.

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Mar 31, 2013

(1) Accounting Policies:

Significant accounting policies adopted in the preparation and the presentation of the accounts are stated as under. These accounting policies adopted by the company are as per standard accounting practices prescribed by the Institute of Chartered Accountants of India:

1) Current tax is the amount of Income Tax ascertained on the basts of assessable profit computed in accordance with the provision of Income Tax Act, 1961.

2) Deferred tax is recognised on timing differences, being the differences between the taxable income and the accounting income that originate in one period and are capable of reversal in one or more subsequent at the reporting date. Deferred tax is measured using the tax rates and the tax laws enacted or substantially enacted as at the reporting date. Deferred tax iiabilities are recognised for all timing differences. Deferred tax assets in respect of unabsorbed depreciation and carry forward of losses are recognised only if there is virtual certainty that there will be sufficient future taxable income available to realize such assets. Deferred tax assets are recognised for timing differences of other items only to the extent that reasonable certainty exists that sufficient future taxable income will be available against which these can be realized. Deferred tax assets and liabilities are offset if such items relate to taxes on income levied by the same governing tax laws and the company has a legally enforceable right for such set off. Deferred tax assets are reviewed at each Balance Sheet date for their realisability.

(2) Contingent liability in respect of bills discounted with bank is Rs. Nil.

(3) There is no employee who was in receipt of remuneration, which in aggregate was more than Rs. 60,00,000/- per annum if employed throughout the year and not less than Rs. 5,00,000/- per month if employed for part of the year.

(4) The Company is taking necessary steps to appoint full time Company Secretary as required under Section 383A of the Companies Act, 1956.

(5) Related party disclosure:

Related parties disclosures, as required by AS-18, "Related Party Disclosure" are given below:

(i) Key Managerial person:

Mitul J. Shah, Rajendra S. Shah, Jagdishbhal M. Shah

(ii) List of entities under common control:

Abhishek Apartments Pvt. Ltd., Abhyudaya Textiles Pvt. Ltd., Bella Apartments Pvt. Ltd., Bhavik Properties Pvt. Ltd., Darshan Apartments Pvt. Ltd., Dharmarth Construction Pvt. Ltd., Jasumati Properties Pvt. Ltd., Kamla Flats Pvt. Ltd., Ketan Properties Pvt. Ltd., Lalita Apartments Pvt. Ltd., Manilal Properties Pvt. Ltd., Maullk Properties Pvt. Ltd., Mayur Shops Pvt. Ltd., Megh Mayur Reality Pvt. Ltd., Meghna Apartments Pvt. Ltd., Mitul Construction Pvt. Ltd., Mitul Flats Pvt. Ltd., Mitul Hotels Pvt. Ltd., Mitul Sanjay Holdings Pvt. Ltd., Mruga Properties Pvt. Ltd., Nami Properties Pvt. Ltd., Nutan Apartments Pvt. Ltd., Poojan Properties Pvt. Ltd., Prabhu Prathna Apartments Pvt. Ltd., Prabhu Pratishtha Rats Pvt. Ltd., Preeti Flats Pvt. Ltd., Rutvan Hotels Pvt. Ltd., Sanjay Flats Pvt. Ltd., Sarswat Properties Pvt. Ltd., Sarthak Proeprties Pvt. Ltd., Sarthi Properties Pvt. Ltd., Sumeru Properties Pvt. Ltd., Sumeru Textiles Pvt. Ltd., Sunish Apartments Pvt. Ltd., Tribhavan Properties Pvt. Ltd., Vandan Properties Pvt. Ltd., Vasupunjay Construction Pvt. Ltd., Vimalnath Properties Pvt. Ltd., Java Realities Pvt. Ltd., Silver Arch Flats Pvt. Ltd., Shruti Park Pvt. Ltd., Sanskruti Flats Pvt. Ltd., Samarth Flats Pvt. Ltd., Samrat Apartments Pvt. Ltd., Sashwat Park Pvt. Ltd., Siddhchal Properties Pvt. Ltd., Siddharth Flats Pvt. Ltd., Megh Mayur Associates, Chimanlal Corporation, Samruddhi Corporation, Arihant Corporation,

(6) Inventories:

Closing Stock - WIP is valued at cost consisting of land development, construction, development, administration and other expenses or market value whichever is lower.

(7) Computation of Deferred Tax Liabilities:

Deferred tax assets, in respect of carried forward losses of prior years, have not been recognised in the books as there is neither virtual certainty nor any convincing evidence that sufficient future taxable income will be available against which such deferred tax assets can be realised.

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Mar 31, 2012

(1) Contingent liability in respect of bills discounted with bank is Rs. Nil.

(2) There is no employee who was in receipt of remuneration, which in aggregate was more than Rs. 60,00,000/- per annum if employed throughout the year and not less than Rs. 5,00,000/- per month if employed for part of the year.

(3) The Company is taking necessary steps to appoint full time Company Secretary as required under Section 383A of the Companies Act 1956.

(4) Related party disclosure:

Related parties disclosures, as required by AS-18, "Related Party Disclosure" are given below:

(i) Key Managerial person:

Mitul J. Shah, Rajendra S. Shah, Jagdishbhai M. Shah "

(ii) List of entities under common control:

Abhishek Apartments Pvt. Ltd., Abhyudaya Textiles Pvt. Ltd., Bella Apartments Pvt. Ltd., Bhavik Properties Pvt. Ltd., Darshan Apartments Pvt. Ltd., Dharmarth Construction Pvt. Ltd., Jasumati Properties Pvt. Ltd., Kamla Flats Pvt. Ltd., Ketan Properties Pvt. Ltd., Lalita Apartments Pvt. Ltd., Manilal Properties Pvt. Ltd., Maulik Properties Pvt. Ltd., Mayur Shops Pvt. Ltd., Megh Mayur Reality Pvt. Ltd., Meghna Apartments Pvt. Ltd., Mitul Construction Pvt. Ltd., Mitul Flats Pvt. Ltd., Mitul Hotels Pvt. Ltd., Mitul Sanjay Holdings Pvt. Ltd., Mruga Properties Pvt. Ltd., Nami Properties o«««- it-rt Muhan Anartments Pvt. Ltd., Poojan Properties Pvt. Ltd.,

Preeti Flats Pvt. Ltd., Rutvan Hotels Pvt. Ltd., Sanjay Flats Pvt. Ltd., Sarswat Properties Pvt. Ltd., Sarthak Proeprties Pvt. Ltd., Sarthi Properties Pvt. Ltd., Sumeru Properties Pvt. Ltd., Sumeru Textiles Pvt. Ltd., Sunish Apartments Pvt. Ltd., Tribhavan Properties Pvt. Ltd., Vandan Properties Pvt. Ltd., Vasupunjay Construction Pvt. Ltd., Vimalnath Properties Pvt. Ltd., Java Realities Pvt. Ltd., Silver Arch Flats Pvt. Ltd., Shruti Park Pvt. Ltd., Sanskruti Flats Pvt. Ltd., Samarth Flats Pvt. Ltd., Samrat Apartments Pvt. Ltd., Sashwat Park Pvt. Ltd., Siddhchal Properties Pvt. Ltd., Siddharth Flats Pvt. Ltd., Megh Mayur Associates, Chimanlal Corporation, Samruddhi Corporation, Arihant Corporation,

(5) Previous years' figures have been regrouped and / or rearranged wherever necessary.

(6) Inventories:

(i) The inventories comprise of land and building purchased by the company from its related party Megh Mayur Reality Pvt. Ltd. at an original cost of Rs. 40,00,000; vide sale agreement dated 22-03-2007. The company had paid the consideration in full for the transaction and consequently acquired possession of the said property. On the basis of these facts, the company had recorded the said land and building as fixed assets and claimed depreciation thereon till 31-03-2011. However, the land and building have not been registered in the name of the company till date.

(ii) The object clause of the company permits it to carry on the business of construction. With an intention of applying its resources to the attainment of its object, the company has, vide a resolution in the board meeting held on 01-04-2011, converted the land and building from Fixed asset into Stock-in-Trade, The land and building have been recorded in the books on written down value of the same on 01- 04-2011

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Mar 31, 2011

(1) Contingent liability in respect of bills discounted with bank is Rs. Nil.

(2) There is no employee who was in receipt of remuneration, which in aggregate was more than Rs.24,00,000/- per annum if employed throughout the year and not less than Rs.2,00,000/- per month if employed for part of the year.

(3) The Company is taking necessary steps to appoint full time Company Secretary as required under Section 383A of the Companies Act, 1956.

(4) Related party disclosure:

Related parties disclosures, as required by AS-18, "Related Party Disclosure" are given below:

(i) Key Managerial person:

Mitul J. Shah and Rajendra S. Shah .

(ii) List of Companies under common control:

Abhishek Apartments Pvt. Ltd., Abhyudaya Textiles Pvt. Ltd., Bella Apartments Pvt. Ltd., Bhavik Properties Pvt. Ltd., Darshna Apartments Pvt. Ltd., Dharmarth Construction Pvt. Ltd., Jasumati Properties Pvt. Ltd., Kamla Flats Pvt. Ltd., Ketan Properties Pvt. Ltd., Lalita Apartments Pvt. Ltd., Manilal Properties Pvt. Ltd., Maulik Properties Pvt. Ltd., Mayur Shops Pvt. Ltd., Megh Mayur Reality Pvt. Ltd., Meghna Apartments Pvt. Ltd., Mitul Construction Pvt. Ltd., Mitul Flats Pvt. Ltd., Mitul Hotels Pvt. Ltd., Mitul Sanjay Holdings Pvt. Ltd., Mruga Properties Pvt. Ltd., Nami Properties Pvt. Ltd., Nutan Apartments Pvt. Ltd., Poojan Properties Pvt. Ltd., Prabhu Prathna Apartments Pvt. Ltd., Prabhu Pratishtha Flats Pvt. Ltd., Preeti Flats Pvt. Ltd., Rutvan Hotels Pvt. Ltd., Sanjay Flats Pvt. Ltd., Sarswat Properties Pvt. Ltd., Sarthak Proeprties Pvt. Ltd., Sarthi Properties Pvt. Ltd., Sumeru Properties Pvt. Ltd., Sumeru Textiles Pvt. Ltd., Sunish Apartments Pvt. Ltd., Tribhavan Properties Pvt. Ltd., Vandan Properties Pvt. Ltd., Vasupunjay Construction Pvt. Ltd., Vimalnath Properties Pvt. Ltd., Java Realities Pvt. Ltd., Silver Arch Flats Pvt. Ltd., Shruti Park Pvt. Ltd., Sanskruti Flats Pvt. Ltd., Samarth Flats Pvt. Ltd., Samrat Apartments Pvt. Ltd., Sashwat Park Pvt. Ltd., Siddhchal Properties Pvt. Ltd.

(5) Previous years' figures have been regrouped and / or rearranged wherever necessary.

(6) The Company has provided depreciation on the value of the Land which was purchased along with Building in the F.Y. 2006-2007. The amount of depreciation provided on the land has been reversed and shown as a prior period item.

Note: The above Cash Flow Statement has been prepared under the 'Indirect Method' as set out in the AS-3 on the Cash Flow Statement issued by the ICAI.

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Mar 31, 2010

(1) Contingent liability in respect of bills discounted with bank is Rs. Nil.

(2) There is no employee who was in receipt of remuneration, which in aggregate was more than Rs.24,00,000/- per annum if employed throughout the year and not less than Rs.2,00,000/- per month if employed for part of the year.

(3) The Company is taking necessary steps to appoint full time Company Secretary as required under Section 383A of the Companies Act, 1956.

(4) Related party disclosure:

Related parties disclosures, as required by AS-18, "Related Party Disclosure" are given