Notes to Accounts of N G Industries Ltd.

Mar 31, 2024

(m) Provisions, contingent liabilities and Contingent Assets

Provisions are recognised when the Company has a present obligation (legal or constructive) as a result of a past event, it is probable that an outflow of resources embodying economic benefits will be required to settle the obligation and a reliable estimate can be made of the amount of the obligation. When the Company expects some or all of a provision to be reimbursed, the expense relating to a provision is presented in the statement of profit and loss net of any reimbursement.

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. The Company does not recognize a contingent liability but discloses its existence in the financial statements.

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

(n) Financial Instrument

Financial assets and financial liabilities are recognised when a Company becomes a party to the contractual provisions of the instruments.

Financial assets and financial liabilities are initially measured at fair value. Transaction costs that are directly attributable to the acquisition or issue of financial assets and financial liabilities (other than financial assets and financial liabilities at fair value through profit or loss) are added to or deducted from the fair value of the financial assets or financial liabilities, as appropriate, on initial recognition. Transaction costs directly attributable to the acquisition of financial assets or financial liabilities at fair value through profit or loss are recognised immediately in profit or loss.

All equity investments in scope of Ind AS 109 are measured at fair value. Equity instruments which are held for trading are classified as at FVTPL. For all other equity instruments, the Company decides to classify the same as at fair value through other comprehensive income (FVTOCI).

All regular way purchases or sales of financial assets are recognised and derecognised on a trade date basis. Regular way purchases or sales are purchases or sales of financial assets that require delivery of assets within the time frame established by regulation or convention in the marketplace.

(o) Employee benefits

lil Short-term employee benefits:-

All employee benefits falling due within twelve months of the end of the period in which the employees render the related services are classified as short term employee benefits, which include benefits like salaries, wages, short term compensated absences, performance incentives, etc. and are recognised as expenses in the period in which the employee renders the related service and measured accordingly.

(ii) Post-employment benefits:

Post employment benefit plans are classified into defined benefits plans and defined contribution plans as under

Gratuity The Company has an obligation towards gratuity, a defined benefit retirement plan covering eligible employees. The plan provides for a lump sum payment to vested employees at retirement, death while in employment or on termination of employment of an amount based on the respective employee''s salary and the tenure of employment. The liability in respect of Gratuity, is recognised in the books of accounts based on actuarial valuation by an independent actuary. The gratuity liability for employees of the Company is funded with Life Insurance Corporation of India.

Provident Fund The Company makes contributions to statutory provident fund in accordance with Employees Provident Fund and Miscellaneous Provisions Act, 1952. Provident Fund is a defined benefit scheme the contribution of which is being deposited with Regional Provident Fund Commissioner. Company''s contribution to the provident fund is charged to Statement of Profit and Loss.

Micro, Small and Medium Enterprises

There are no Micro, Small & Medium Enterprises, to whom the Company owes dues, which are outstanding for more than 45 days as on 31st March 2024. 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.

Notes: 26

Short Term Borrowings

Short term borrowing as per Balance Sheet Rs.11830.50 thousands. Actual utilisation as per Bank Statement is Rs.2083.01 thousands as on 31st March, 2024. The difference between Balance Sheet amount and physical Bank Account is Rs.9747.49 thousands. This is due to cheques received and cheques issued which are not credited and debited in Bank Account, as per BRS Notes: 27

Contingent liabilities

Claims against the company not acknowledged as liability are as follows :-

The Income Tax Assessing Officer has issued Assessment Orders u/s 143(3) for Assessment Years, 2014-15, where in certain additions have been made. The Company has taken up the matters with Appeal Commissioner. As per advice received from Tax experts, the Company is confident that the stand of the Assessing Officer will be negated by the Appeal Commissioner. However, this may involve additional Income Tax liability of Rs.682.14 thousands for Assessment Year 2014-15. The demand has been paid. In case of favourable order from the Appeal authorites, the already paid amount will be refunded along with interest. Further, this may involve additional Income Tax penalty liabilities if favourable order is not received from Appeal authorities. The quantum of such liability cannot be determined now. No provision has been made for this contingent liability.

Others

Bank Guarantee in favour of CGHS for Rs.200.00 thousands (Previous year Rs.200.00) and in favour of Directorate of ECHS for Rs.200.00 thousands (Previous year Rs.200.00).

Notes: 28

Fixed Deposits & Interest Income

Bank Fixed Deposit to the tune of Rs.2500.00 thousands have been pledged to HDFC Bank Ltd. for Securing Over draft Limit.

Bank Fixed Deposit to the tune of Rs.20000.00 thousands have been pledged to Yes Bank Ltd. for Securing Over draft Limit.

Bank Fixed Deposit as on 31.03.2024 to the tune of Rs.400.00 thousands have been pledged to State Bank of India for Securing Bank Guarantee.

Notes: 29

Corporate Social Responsibility (CSR):

The following disclosures are made as per the additional regulatory information required by Schedule III of the Companies Act, 2013 towards Corporate Social Responsibility -

a) amount required to be spent by the company during the year - Rs.9.20 lakhs

b) amount of expenditure incurred-Rs.0.00 lakhs

c) shortfall at the end of the year-9.20

d) total of previous years shortfall - Nil (bf

e) reason for shortfall - CSR Project yet to be conceptualised is not initiating II ? ( / J/)

, f) nature of CSR activities - Nil

ACCESS''

Notes: 30

In the opinion of the Board of Directors, the Current Assets, Loans & Advances are approximately of the value stated in accounts, if realised in ordinary course of business, unless otherwise stated. The provision for all known liabilities is adequate and not in excess/short of the amount considered reasonable/ necessary.

Notes: 31

Balances of debtors, creditors, loans and advances incorporated in the books as per balances appearing in the relevant subsidiary records, are subject to confirmation from the respective parties and consequential adjustments arising from reconciliation, if any. The management however is of the view that there will be no material discrepancies in this regard.

Notes: 32

i Impairment of Assets

On the basis of physical verification of assets and cash generation capacity of those assets in the management perception, there is no impairment of assets as on 31st March 2024.

Notes: 33

Previous year''s figures have been regrouped/reclassified wherever necessary to correspond with the current year''s classification/disclosure & Figures have been rounded off to nearest thousands as per requirement of general intsructions in Schedule III of the Company Act, 2013.

Summary of significant accounting policies & Notes on Accounts 1-33 For and on behalf of Board of Directors

The accompanying notes are an integral part of the financial statements. j )•

Rajesh Goenka

In terms of my report of even date Chairman & Whole-time-Director

(DIN:00157319)

For M.R.SINGHWI & CO.

Chartered Accountants

Firm Regn. No.312121E Neha Goenka

Inf FRH \o| Director

(DIN:05215437)

(CA BAL KRISHAN PODDAR)

Partner

Membership No. 054613 Santosh Kumar Thakur

Chief Financial Officer

-ra—s.—-J

Place: Kolkata S Prasad

Date : 23rd day of May, 2024 Company Secretary

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Mar 31, 2016

1 Terms in Respect of Equity Shares

Equity shares carrying voting rights at the General Meeting of the Company , and are entitled to dividend and to participate in surplus if any in the event of winding up.

2. Inventories

Stock-in-trade in medical accessories

(As taken valued and certified by the management )

3. Disclosures of related party transactions (as identified & certified by the management):

As per Accounting Standard-18- '' Related Party Disclosures'' issued by the Institute of Chartered Accountants of India, the names of the related parties are given below :

a Associate / Joint Venture Concerns (a) Goenka Securities Pvt. Ltd. b Key Management Personnel

(a) Mr. Ashok Kumar Goenka	(Director)
(b) Mr. Rajesh Goenka	(Whole-Time-Director & Chairman)
(c) Dr. Subash R. Kamath	(Director)
(d) Mr. Rajkumar Bajoria	(Director)
(e) Mr. Jagdish Chand Kumbhat	(Director)
(f) Mr. Vinod Kumar Singhi	(Director)
(g) Ms. Neha Goenka	(Director)
(h) Mr. Santosh Kumar Thakur	(Chief Financial Officer)
(i) Mr. Pritam Paul	(Company Secretary)

c. Relatives of Key Management Personnel

(a) Ashok Kumar Goenka & Others (HUF)

(b) Banwari Lal Goenka & Sons (HUF)

(c) Rajesh Goenka & Others (HUF)

4. In the opinion of the Board of Directors, the Current Assets, Loans & Advances are approximately of the value stated in accounts, if realized in ordinary course of business, unless otherwise stated. The provision for all known liabilities is adequate and not in excess/short of the amount considered reasonable/necessary.

5. Balances of some of the Sundry creditors, Loans and advances incorporated in the books as per balances appearing in the relevant subsidiary records, are subject to confirmation from the respective parties and consequential adjustments arising from reconciliation, if any. The management however is of the view that there will be no material discrepancies in this regard.

6. Previous year''s figures have been regrouped/rearranged, wherever necessary.

7. Figures have been rounded off to nearest rupee.

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Mar 31, 2014

1. Previous year''s figures have been regrouped/rearranged, wherever necessary.

2. Figures have been rounded off to nearest rupee.

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Mar 31, 2013

1. Disclosures of related party transactions (as identified & certified by the management):

As per Accounting Standard-18- '' Related Party Disclosures'' issued by the Institute of Chartered Accountants of India, the names of the related parties are given below :

a Associate / Joint Venture Concerns b Key Management Personnel

(a) Mr. Ashok Kumar Goenka (Chairman)

(b) Mr. Rajesh Goenka (Whole-Time-Director)

(c) Dr. Subash R. Kamath (Director)

(d) Mr. Rajkumar Bajoria (Director)

(e) Mr. Ashok Bhat (Whole-Time-Director)

(f) Mr. Jagdish Chand Kumbhat (Director)

(g) Mr. Vinod Kumar Singhi (Director)

c Relatives of Key Management Personnel

(a) Ashok Kumar Goenka & Others (HUF)

(b) Banwari Lal Goenka & Sons (HUF)

(c) Rajesh Goenka & Others (HUF)

2. Previous year''s figures have been regrouped/rearranged, wherever necessary.

3. Figures in the bracket relate to previous year.

4. Figures have been rounded off to nearest rupee.

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Mar 31, 2012

1 Deferred tax Assets (Net)

Disclosure under AS 22 for Deferred tax (liability) / asset

In accordance with AS-22 on' Accounting for taxed on Income' by the Institute of Chartered Accountants of India, net deferred tax,

2 Disclosures of related party transactions (as identified & certified by the management):

As per Accounting Standard-18-' Related Party Disclosures' issued by the Institute of Chartered Accountants of India, the names of the related parties are given below:

a Associate / Joint Venture Concerns

b Key Management Personnel

(a) Mr. Ashok Kumar Goenka (Chairman)

(b) Mr. Banwari Lai Goenka (Director)

(c) Mr. Rajesh Goenka (Whole-Time-Director)

(d) Dr. Subash R. Kamath (Director)

(e) Mr. Rajkumar Bajoria (Director)

(f) Mr. Ashok Bhat (Whole-Time-Director)

(g) Mr. Jagdish Chand Kumbhat (Director)

(h) Mr. Vinod Kumar Singhi (Director)

c Relatives of Key Management Personnel

(a) Ashok Kumar Goenka & Others (HUF)

(b) Banwari Lai Goenka & Sons (HUF)

(c) Rajesh Goenka & Others (HUF)

3 Previous year's figures have been regrouped/rearranged, wherever necessary.

4 Figures in the bracket relate to previous year.

5 Figures have been rounded off to nearest rupee.

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Mar 31, 2011

A. Earning per share

Earning per share is calculated by dividing the net profit or loss for the period attributable to equity shareholders, by the weighted average number of equity shares outstanding during the period.

For the purpose of calculating diluted earning per share, the net profit or loss for the period attributable to equity shareholders and the weighted average number of share outstanding during the period are adjusted for the effects of all diluted potential.

b. Cash and cash equivalents

Cash and cash equivalents in the balance sheet comprise cash at bank and in hand and Short- term investments with an original maturity of three months or less.

c. Contingent liabilities

Liabilities which are material and whose future outcome cannot be ascertained with reasonable certainty, are treated as contingent and disclosed by way of notes to the accounts.

d. Provisions

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.

e Disclosures of related party transactions :

a List of related parties with whom the Company has transacted during the year

i Associate / Joint Venture Concerns

ii Key Management Personnel

a Mr. Ashok Kumar Goenka

b. Mr. Banwari Lai Goenka

c. Mr. Rajesh Goenka

d. Dr. Subash R Kamath

e. Mr. Raj Kumar Bajoria

f. Mr. Ashok Bhat

g. Mr. Jagdish Chand Kumbhat

h. Mr. VinodSinghi

iii Relatives of Key Management Personnel

a Ashok Kumar Goenka & Others (HUF)

b.Banwari Lai Goenka & Sons (HUF)

c. Rajesh Goenka & Others (HUF)

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Mar 31, 2010

I. Retirement and other employee benefits

Retirement benefit in the form of Provident Fund is a defined contribution scheme and the contributions are charged to the Profit and Loss Account of the year when the contributions to the respective funds are accrued.

Gratuity liability is a defined benefit obligation and is provided for on the basis of actuarial valuation made at the end of each financial year.

Short term compensated absences are provided for based on estimates. Long term compensated absences are provided for based on actuarial valuation.

Actuarial gains/losses are immediately taken to profit and loss account and are not deferred.

ii. Borrowing costs

Borrowing costs relating to the acquisition / construction of qualifying assets are capitalised until the time all substantial activities necessary to prepare the qualifying assets for their intended use are complete.

iii. Foreign currency transactions

Foreign currency transactions are recorded on the basis of exchange rates prevailing on the date of their occurrence. Foreign currency monetary items are reported using the closing rates and exchange difference arising thereon is charged to the Profit and Loss Account.

iv. Taxation

Tax expense comprises of current, deferred and fringe benefits tax.

Current income-tax and fringe benefit tax are measured at the amount expected to be paid to the tax authorities in accordance with the Indian Income Tax Act,1961.

Deferred tax is recognized on a prudent basis for timing differences, being difference between taxable and accounting income/expenditure that originate in one period and are capable of reversal in one or more subsequent period(s).

MAT credit is recognised as an asset only when and to the extent there is convincing evidence that the Company will pay normal income tax during the specified period.

v. Earning per share

Earning per share is calculated by dividing the net profit or loss for the period attributable to equity shareholders, by the weighted average number of equity shares outstanding during the period.

For the purpose of calculating diluted earning per share, the net profit or loss for the period attributable to equity shareholders and the weighted average number of share outstanding during the period are adjusted for the effects of all diluted potentia.

vi. Cash and cash equivalents

Cash and cash equivalents in the balance sheet comprise cash at bank and in hand and short-term investments with an original maturity of three months or less.

vii. Contingent liabilities

Liabilities which are material and whose future outcome cannot be ascertained with reasonable certainty, are treated as contingent and disclosed by way of notes to the accounts.

viii. Provisions

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.

ix. Research & Development

Revenue Expenditure is charged to Profit & Loss Account and Capital Expenditure is added to the cost of Fixed Assets in the accounting year in which it is incurred.

x. Prior Period Items

Prior period expenses/Income are accounted under the respective heads. Material items, if any, are disclosed separately by way of a note.

xi Disclosures of related party transactions :

a List of related parties with whom the Company has transacted during the year

i Associate /Joint Venture Concerns

ii Key Management Personnel

a.Mr.Ashok Kumar Goenka

b.Mr.Banwari Lal Goenka

c.Mr.Rajesh Goenka

d.Dr.Subash R.Kamath

e.Mr.Raj Kumar Bajoria

f.Mr.Ashok Bhat

g.Mr.Jagdish Chand Kumbhat

h.Mr.Vinod Singhi

iii Relatives of Key Management Personnel

a.Ashok Kumar Goenka &Others (HUF)

b.Banwari Lal Goenka &Sons (HUF)

c.Rajesh Goenka &Others (HUF)

xii Enterprise owned or significantly influenced by Key Management Personnel and their relatives

Previous years figures have been regrouped/rearranged,wherever necessary.