Notes to Accounts of Vaishno Cement Company Ltd.

Mar 31, 2024

(m) PROVISIONS, CONTINGENT LIABILITIES AND CONTINGENT ASSETS

A provision is recognised if, as a result of a past event, the Company has a present obligation that
can be estimated reliably, and it is probable that an outflow of economic benefits will be required to
settle the obligation. Provisions are recognised at the best estimate of the_expenditure required to
settle the present obligation at the balance sheet date. The provisions are measured on an
undiscounted basis. Provision in respect of loss contingencies relating to claims, litigation,
assessment, fines, penalties, etc. are recognised when it is probable that a liability has been incurred
and the amount can be estimated reliably. A contingent liability exists when there is a possible but
not probable obligation, or a present obligation that may, but probably will not, require an outflow of
resources, or a present obligation whose amount cannot be estimated reliably. Contingent liabilities
do not warrant provisions, but are disclosed, unless the possibility of outflow of resources is remote.
Contingent assets are neither recognised nor disclosed in the financial statements. However,
contingent assets are assessed continually and if it is virtually certain that an inflow of economic
benefits will arise, the asset and related income are recognised in the period in which the change
occurs.

(n) INVENTORIES

During the year under review Company has no inventory.

(o) ASSETS HELD FOR SALE

Noncurrent assets are classified under ''Assets held for sale'' if their carrying amount is intended to be
recovered principally through sale rather than through continuing use. The condition for
classification as ''assets held for sale'' is fulfilled when the non-current asset is expected to be sold
immediately and it is highly probable that such sale will be completed within one year from the date
of classification as ''assets held for sale''.

2. Recent accounting pronouncements

New standards/amendments that are not yet effective and have not been early adopted: Ministry
of Corporate Affairs ("MCA") notifies new standard or amendments to the existing standards.
There is no such notification which would have been applicable from April 1^st, 2021.

3. Significant estimates and judgements

The preparation of financial statements requires the use of accounting estimates which, by
definition, will seldom equal the actual results. Management also needs to exercise judgement in
applying the company’s accounting policies.

This note provides information about the areas that involved a higher degree of judgment or
complexity, and of items which are more likely to be materially adjusted due to estimates and
assumptions turning out to be different than those originally assessed.

NOTE 18:- FINANCIAL RISK MANAGEMENT

(a) Risk Management Framework

In the ordinary course of business, the Company is exposed to a different extent to a variety of financial risks: foreign currency risk, interest rate risk, liquidity risk, price risk and credit risk. In order to minimize any adverse effects on the financial

(b) Credit Risk

Credit risk is the risk of financial loss to the Company if a customer or counterparty to a financial instrument tails to meet its contractual obligations, and arises principally from the Company’s receivables from customers and investments in financial
The carrying amount of financial assets represents the maximum credit exposure. The Company monitor credit risk very closely both in domestic and export market. The Management impact analysis shows credit risk and impact assessment as
low.

Trade and Other Receivables

Credit risk is the risk that a customer may default or not meet its obligations to the company on a timely basis, leading to financial losses to the Company. The management has an advance collection /credit policy criteria in place and the exposure
Investments are reviewed for any fair valuation loss on periodically basis and necessary provision/fair valuation adjustments has been made based on the valuation carried by the management to the extent available sources, the management does
Trade Receivable, Trade Payable, Short Term Borrowings and Short Term Loans and Advances balances are subject to confirmation and reconciliation

(c) Liquidity Risk management

Ultimate responsibility for liquidity risk management rests with the board of directors. The Company manages liquidity risk by maintaining adequate reserves, banking facilities and reserve borrowing facilities, by continuously monitoring forecast

Note 19 : Employee Benefits - -

Provision for retirement benefits to employees was not provided on accrual basis, which is not in conformity with Ind AS19 and the amount has not been quantified because actuarial valuation report is not available. However, in the opinion ofthe
management the amount involved is negligible and has no material impact on the Profit & Loss Account.

Note 20: Valuation of investments in Unquoted shares

As the intention is to hold the unquoted securities for sale in short term and in absence of flow of periodic data, absence of liquidity and market related data closing stock of unquoted shares are valued at cost.

For, Bijan Ghosh & Associates

Chartered Accountant

Firm Registration No. 323214E For, Vaishno Cement Company Limited

Sd/- Sd/- Sd/-

CA.Bijan Ghosh Jatin Nanji Chheda Rajeswari Bangal

Membership No. 009491 Wholetime Director Director

Plhce: Kolkata DIN :- 09342630 DIN :- 09440356

Dated: 30th day of May, 2024
UDIN: 24009491BKDZXZ3709

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Mar 31, 2023

(m) PROVISIONS, CONTINGENT LIABILITIES AND CONTINGENT ASSETS

A provision is recognised if, as a result of a past event, the Company has a present obligation that can be estimated reliably, and it is probable that an outflow of economic benefits will be required to settle the obligation. Provisions are recognised at the best estimate of thexpenditure required to settle the present obligation at the balance sheet date. The provisions are measured on an undiscounted basis. Provision in respect of loss contingencies relating to claims, litigation, assessment, fines, penalties, etc. are recognised when it is probable that a liability has been incurred and the amount can be estimated reliably. A contingent liability exists when there is a possible but not probable obligation, or a present obligation that may, but probably will not, require an oulflow of resources, or a present obligation whose amount cannot be estimated reliably. Contingent liabilities do not warrant provisions, but are disclosed, unless the possibility of outflow of resources is remote. Contingent assets are neither recognised nor disclosed in the financial statements. However, contingent assets are assessed continually and if it is virtually certain that an inflow of economic benefits will arise, the asset and related income are recognised in the period in which the change occurs.

(n) INVENTORIES

During the year under review Company has no inventory.

(o) ASSETS HELD FOR SALE

Noncurrent assets are classified under ''Assets held for sale'' if their carrying amount is intended to be recovered principally through sale rather than through continuing use. The condition for classification as ''assetsld for sale'' is fulfilled when the Horrent asset is expected to be sold immediately and it is highly probable that such sale will be completed within one year from the date of classification as ''assets held for sale''.

2. Recent accounting pronouncements

N ew standards/amendments that are not yet effective and have not been early adopted: Ministry of Corporate Affairs ("MCA") notifies new standard or amendments to the

existing standards. there is no such notification which would have been applicable from April 1 2021

3. Significant estimates and judgements

The preparation of financial statements requires the use of accounting estimates which, by definition, will seldom equal the actual results. Management also needs to exercise judgement in applying the company’s accounting policies.

This note provides information about the areas that involved a higher degree of judgment or complexity, and of items which are more likely to be materially adjusted due to estimates and assumptions turning out tofferent than those originally asses sed.

(a) Risk Management Framework

In the ordinary course of business, the Company is exposed to a different extent to a variety of fin ancial risks: foreign currency risk, interest rate risk, liquidity risk, price risk and credit risk. In order to min

(b) Credit Risk

Credit risk is the risk of financial loss to the Company if a customer or counterparty to a financial instrument fails to meet its contractual obligations, and arises principally from the Company’s receivables from customers and The carrying amount of financial assets represents the maximum credit exposure. The Company monitor credit risk very closely both in domestic and export market. The M anagement impact analysis shows cr assessment as low.

Trade and Other Receivables

Credit risk is the risk that a customer may default or not meet its obligations to the company on a timely basis, leading to financial losses to the Company. The management has an advance collection / credit pol Investments are reviewed for any fair valuation loss on periodically basis and necessary provision/fair valuation adjustments has been made based on the valuation carried by the management to the extent availal Trade Receivable, Trade Payable, Short Term Borrowings and Short Term Loans and Advances balances are subject to confirmation and reconciliation

(c) Liquidity Risk management

Ultimate responsibility for liquidity risk management rests with the board of directors. The Company manages liquidity risk by maintaining adequate reserves, banking facilities and reserve borrowing facilities, by Note 18 : Employee Benefits

Provision for retirement benefits to employees was not provided on accrual basis, which is not in conformity with Ind AS 9 and the amount has not been quantified because actuarial valuation report is not avail; opinion of the management the amount involved is negligible and has no material impact on the Profit & Loss Account.

Note 19: Valuation of investments in Unquoted shares

As the intention is to hold the unquoted securities for sale in short term and in absence of flow of periodic data, absence of liquidity and market related data closing stock of unquoted shares are valued at cos

For BIJAN GHOSH & ASSOCIATES CHARTERED ACCOUNTANTS

Firm Registration No. 323214E For, Vaishno Cement Company Limited

S/d S/d S/d

CA. BIJAN GHOSH Jatin Nanji Chheda Rajeswari Bangal

M.NO. 009491 Wholetime Director Director

PLACE : KOLKATA DIN :- 09342630 DIN :- 09440356

DATED : 30th day of May, 2023 UDIN: 23009491BGQTJM4913

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Mar 31, 2015

Note 1: segment information (as-17)

During the year company has not carried out any business activity and hence Segment Information reporting is not applicable.

note 2 : Related party disclosure

Related party disclosures, as required by AS – 18, "Related Party Disclosures" are given below:

a) Relationships

a) key management personnel

- Rajkumar Jaiswal

b) Related parties where common control exists

Name of the Companies where the directors can exercise the control

- Ritesh Industries Pvt Ltd

- Jaiswal Land & Development Pvt Ltd

- RITESH HOTEL & HOMES PVT LTD

- RJB Constructions Private Limited

- Shri Vinayak Land Owners Private Limited

- Bhagwati Plastoworks Private Limited

- Credi Howrah - Hogli

- Topsell Vinimay Pvt Ltd

- A & J Main & Co (Engineers) Pvt Ltd

- Intaglio Projects Private Limited

- Witness Real Estate Private Limited

- Dobson Properties LLP

c) directors

Mr. Rajkumar Jaiswal - Managing Director

Mr. Pramod Kumar Agrawal - Director

Mr. Rama Shankar Thakur - Director (Resigned)

Mr. Vijay Jaideo Poddar - Independent Director

Mr. Girdhar S. Bansal - Independent Director

Mrs. Sarita Agarwal - Independent Director

note 3: earnings per share

No potential Equity Shares were outstanding as on 31.03.2015 and hence Basics and Diluted Earnings per Shares are same.

note 4 : Balances of Sundry Debtors, Unsecured Loans, Sundry Creditors and Loans & Advances are subject to reconciliation, since confirmations have not been received from them. Necessary entries shall be passed on the receipt of the same if required.

note 5 : In the opinion of the management, the Current Assets, Loans & Advances are approximately of the value stated, if realized in the ordinary course of business. The provisions for all known liabilities are ascertained.

note 6 : There are no outstanding payment to suppliers under the Micro, Small and Medium Enterprises Development Act, 2006.

note 7 : Contingent Liabilities & provisions

In view of the management there are no contingent liabilities and commitments against the company.

note 8 : deferred taxes

During the year there are no transactions leading to timing differences and hence no deferred tax asset or liability has been recognized in the books.

note 9: Previous year's figures have been grouped/ regrouped, arranged/rearranged wherever necessary to make them comparable

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Mar 31, 2014

1. i) The Company has only one class of shares referred to as equity shares having par value of Rs. 10/- each

ii) Details of shares held by each shareholder holding more than 5% shares:

Note 2. : Segment Information (AS-17)

During the year company has not carried out any business activity and hence Segment Information reporting is not applicable.

Note 3: Earning Per Share

No Potential Equity Shares were outstanding as on 31.03.2014 and hence Basics and Diluted Earning Per Shares are Same.

Note 4: Balances of Sundry Debtors, Unsecured Loans, Sundry Creditors and Loans & Advances are subject to reconciliation, since confirmations have not been received from them. Necessary entries shall be passed on the receipt of the same if required.

Note 5: In the opinion of the management, the Current Assets, Loans & Advances are approximately of the value stated, if realized in the ordinary course of business. The provisions for all known liabilities are ascertained.

Note 6: The Company has not received the required information from suppliers regarding their status under the Micro, Small and Medium Enterprises Development Act, 2006. Hence disclosures, if any, relating to amounts unpaid as at the yearend together with interest paid/payable as required under the said Act have not been made.

Note 7: Contingent Liabilities & Provisions

In view of the management there are no contingent liabilities and commitments against the company.

Note 8: Deferred taxes

During the year there are no transactions leading to timing differences and hence no deferred tax asset or liability has been recognised in the books.

Note 9: Previous year''s figures have been grouped/ regrouped, arranged/rearranged wherever necessary to make them comparable.

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Mar 31, 2012

1.1 Related Parties Disclosures (As per Accounting Standard 18)

1. Relationship

a. Wholly Owned Company - Not Any

b. Associate Company - None

c. Company under the Common Control of Promoters - Not Any

d. Key Management Personnel

R. K. Jaiswal

2. Transactions

There has been no related parties transactions during the year under review.

1.2 Disclosure for Payment to Micro, Small & Medium Enterprises

The Company has not received any intimation from their suppliers regarding their status under the Micro, Small and Medium Enterprises Development Act, 2006 and hence disclosure, if any, relating to the amount unpaid as at the year end together with interest paid / payable as required under the said Act, have not been given.

Note : 1.3

The revised Schedule VI has been become effective from 1st April 2011 for the preparation of Financial Statements. This has significantly impacted the disclosure and presentation made in the financial statements. Previous Years' figures have been regrouped/re-classified wherever necessary to the correspond with the current year classifications / disclosures.

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Mar 31, 2011

1. In the opinion of the Board, Current Assets, Loans and Advances are approximately of the value state, if realized in the ordinary course of business. Provisions for all known liabilities are adequate and not in excess of the amount considered necessary for the same.

2. 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 31st March 2011. This information as required to be disclosed under 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.

3. Previous years' figures have been regrouped, rearranged wherever necessary to make them comparable with those of current year.

We have verified the attached Cash Flow Statement of M/s. Vaishno Cement Company Limited, derived from Audited Financial Statements and the books and records maintained by the Company for the year ended on 31st March 2011 and found the same in agreement there with.

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Mar 31, 2010

1. In the opinion of the Board, Current Assets, Loans and Advances are approximately of the value state, if realized in the ordinary course of business. Provisions for all known liabilities are adequate and not in excess of the amount considered necessary for the same.

Contingent Liabilities

2. Contingent Liabilities not provided for -Rs Nil

Particulars of Director's Remuneration (In Rs)

3. Rs Nil has been paid to any of Directors towards Directors

Remuneration for the Year (P.Y.Rs Nil)

Related Party Transactions

4. Key Management Personnel

1. Mr. R. K. Jaiswal - Executive Director

Subsidiary & Group Companies or Companies under same management —

5. Company under same Management - Not Any

Differed Tax

6. The differed tax has not been recognized in financial statement during the year under review.

7. Earning per Equity Share

*The Company does not have any outstanding dilutive potential equity shares.

8. 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 31st March 2010. This information as required to be disclosed under 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.

9. Previous years' figures have been regrouped, rearranged wherever necessary to make them comparable with those of current year.