Notes to Accounts of Rich Universe Network Ltd.

Mar 31, 2024

xv. Provisions: Provisions are recognized 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. The expense relating to a provision is presented in the statement
of profit or loss net of any reimbursement. Provisions are not recognized for future operating
losses 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 liabilities are possible obligations that arise from past events and whose existence
will only be confirmed by the occurrence or non-occurrence of one or more future events not
wholly within the control of the Company. Where it is not probable that an outflow of
economic benefits will be required, or the amount cannot be estimated reliably, the obligation
is disclosed as a contingent liability, unless the probability of outflow of economic benefits is
remote. As mentioned in the notes to account no. 36, the management has stated an amount of
Rs. 556.43 lakhs as contingent liability.

Contingent asset is not recognized but disclosed, when possible, asset that arises from past events
and whose existence will be confirmed only by the occurrence or non-occurrence of one or more
uncertain future events not wholly within the control of the entity. Provisions, contingent
liabilities and contingent assets are reviewed at each balance sheet date.

xvi. Cash flows are stated using the indirect method, whereby profit/loss before tax is adjusted for
the effects of transactions of a non-cash nature, any deferrals or accruals of past or future
operating cash receipts or payments and items of incomes and expenses associated with investing
or financing flows. The cash flows from operating, investing and financing activities of the
Company are segregated.

For & on behalf on the Board

For Srivastava S & Co.

Chartered Accountants

FRN-015187C

Shashwat Agarwal Rajeev Agarwal

M.D. Whole Time Director

DIN:00122799 DIN: 00122877

CA SWADESH CHANDRA SRIVASTAVA

PARTNER

Membership No.: 073915

Place: KANPUR Zubair Ahmad Astha Chaturvedi

Dated: 30.05.2023 C.F.O. Company Secretary

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Mar 31, 2015

1. No Prior period items are present.

2. The current assets, loans and advances are approximately of the value stated, if realized in the ordinary course of business. The provisions for ail known liabilities are adequate and not in excess of the amount considered reasonably necessary. These amount are subject to confirmation.

3. Gross deprecation for the year Rs. 91,577.00 (Prev. Yr. Rs. 132,909.04).

4. No Commission on Sales has been paid or is payable as at date.

5. During the year under consideration do borrowing cost has capitalized by the company in accordance with the Accounting Standard

6. 'Borrowing Cost' issued by the Institute of Chartered Accountants of India.

7. The figure of the previous year have been regrouped/ rearranged wherever necessary in order to make them comparable with the figures of the current year.

8. Figures have been rounded off to the two decimals places.

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Mar 31, 2013

A) The company has not entered into any lease agreement after 31.03.1999 therefor* provision of ''Accounting Standard -19 on lease'' are not applicable,

b) To the extern information available, there were no outstanding dues towards small scale or ancillary undertaking as on 31.03.2013.

c) Reportable segment in respect of business operations of the Company has been identified on the basis of nature of activities attached to the segment. There are no secondary reportable segments considering the business operation of the company. Therefore, no disclosure for secondary segment has been made-

d} The advances received or given are without any stipulation of board of directors regarding their nature and the period for which they have been given or received but as certified by the Board of Directors, Current Assets, Loans and Advances have a value on realization in the ordinary course of business at least equal to the amount at which they are stated in Balance Sheet and outstanding balances in the accounts of parties are subject to confirmation.

e) However, in compliance with Prudential norms of income recognition, provisioning for Bad and Doubtful Debts etc. issued by Reserve Bank of India vide guidelines dated 13.06.1994, the company has, not accrued income in respect of Loans and Advances which are non performing assets as defined therein in terms of set guidelines.

f} The particulars as required In terms of Paragraph 9BB of NBFC Prudential Norms (Reserve Bank) directions 1993 given in Schedule l-(i) ar^ not applicable.

Payment of Gratuity Act, 1972 and Provident Fund Act 1952 are not presently applicable to the Company. The Company do not have a policy of entailment of unavaileri leaves,

g) Earnings in Foreign Currency : Ml (Previous Year: Rs. NIL)

h) Expenses in Foreign Currency: NIL (Previous Year: Rs. NIL)

i) The company has identified that there is no impairment of assets and as such no provision is required for the same in terms of accounting standard Z8 issued by Institute of Chartered Accountants of India.

j) Previous year figures have been regrouped/rearranged wherever considered necessary.

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Mar 31, 2010

1. There was no contingent liability as certified by directors.

2. As certifed by the Board of Directors, Current Assets, Loans and Advances hava a value on realization in the ordinary course of business at least equal to the amount at which they are stated in Balance Sheet.

3. Outstanding balance in the accounts of parties are subject to confirmation.

4. Other additional information pursuant of paragraph 3,4C and 4D of part II of Schedule VI if the Companies Act, 1956 is not given, as it is not applicable to the company.

5. Figures of previos year have been regrouped/rearrange if thought fit upon wherever found necessary

6. Incompliance with Prudential norms of income recognition, provisioning for Bad and Doubtful Debts etc. issued by Reserve Bank of India vide guidelines dated 13.06.1994, the Company has, not accrued income in respect of Loans and Advances which are non performing assets as defined therein in ternms of set guidelines.

7. Schedule 1 to 6 form intergral part of accounts and have been duly authenticated.