7NR Retail Ltd. के अकाउंट के लिये नोट

Mar 31, 2025

Provisions and contingent liabilities

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 and loss net of any reimbursement.

Contingent liabilities are recognized only when there is a possible obligation arising from past events,
due to occurrence or non-occurrence of one or more uncertain future events, not wholly within the
control of the Company or where any present obligation cannot be measured in terms of future outflow
of resources or where a reliable estimate of obligation cannot be made. Contingent assets are not
recognized in the financial statements.

Financial Instruments

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

Initial recognition and measurement

All financial assets are initially recognized when the Company becomes a party to the contractual
provisions of the instrument. All financial assets are initially measured at fair value plus, in the case
of financial assets not recorded at fair value through profit or loss, transaction costs that are
attributable to the acquisition of the financial asset.

Subsequent measurement
Classification

For the purpose of subsequent measurement, the Company classifies financial assets in following
categories:

Financial assets at amortized cost

Financial assets at amortized cost are subsequently measured at amortized cost using the effective
interest method. The amortized cost is reduced by impairment losses, if any. Interest income and
impairment are recognized in the Statement of Profit and Loss.

Financial assets at fair value through other comprehensive income (FVTOCI)

These assets are subsequently measured at fair value through other comprehensive income (OCI).
Changes in fair values are recognized in OCI and on derecognition, cumulative gain or loss previously
recognized in OCI is reclassified to the Statement of Profit and Loss. Interest income calculated using
EIR and impairment loss, if any, are recognized in the Statement of Profit and Loss.

Financial assets at fair value through profit or loss (FVTPL)

These assets are subsequently measured at fair value. Net gains and losses, including any interest
income, are recognized in the Statement of Profit and Loss.

Financial assets are not reclassified subsequent to their recognition except if and in the period the
Company changes its business model for managing for financial assets.

De-recognition

The Company derecognizes a financial asset when the contractual rights to the cash flows from the
financial asset expire, or it transfers the rights to receive the contractual cash flows in a transaction
in which substantially all of the risks and rewards of ownership of the financial asset are transferred
or in which the Company neither transfers nor retains substantially all of the risks and rewards of
ownership and it does not retain control of the financial asset. If the Company enters into
transactions whereby it transfers assets recognized on its balance sheet, but retains either all or
substantially all of the risks and rewards of the transferred assets, the transferred assets are not
derecognized. Any gain or loss on derecognition is recognized in the Statement of Profit and Loss.

Impairment of financial assets

The Company applies the expected credit loss model for recognizing impairment loss on financial
assets measured at amortized cost, lease receivable, trade receivable other contractual rights to
receive cash or other financial assets. For trade receivable, the Company measures the loss
allowance at an amount equal to life time expected credit losses. Further, for the measuring life time
expected credit losses allowance for trade receivable the Company has used a practical expedient as
permitted under Indian AS 109. This expected credit loss allowance is computed based on provisions,
matrix which takes into account historical credit loss experience and adjusted for forward looking
information.

Financial Liabilities

Initial recognition and measurement

All financial liabilities are initially recognised when the Company becomes a party to the contractual
provisions of the instrument. All financial liabilities are initially measured at amortized cost unless at
initial recognition, they are classified as fair value through profit or loss. In case of trade payables
they are initially recognize at fair value and subsequently, these liabilities are held at amortized cost,
using the Effective interest method.

Classification and subsequent measurement

Financial liabilities are classified as measured at amortised cost or FVTPL.

A financial liability is classified as FVTPL if it is classified as held-for-trading, or it is a derivative or it
is designated as such on initial recognition. Financial liabilities at FVTPL are measured at fair value
and net gains and losses, including any interest expense, are recognised in the Statement of Profit
and Loss.

Financial liabilities other than classified as FVTPL, are subsequently measured at amortized cost using
the effective interest method. Interest expense is recognised in Statement of Profit and Loss. Any
gain or loss on derecognition is also recognised in the Statement of Profit and Loss.

De-recognition

A financial liability is derecognized when the obligation under the liability is discharged or cancelled
or expires. When an existing financial liability is replaced by another from the same lender on
subsequently different terms, or the terms of an existing liability are subsequently modified, such an
exchange or modification is treated as the derecognition of the original liability and the recognition
of the new liability. The difference in the respective carrying amount is recognize in the Statement
of Profit & Loss.

Offsetting of financial instruments

Financial assets and financial liabilities are offset and the net amount presented in the balance sheet
when, and only when, the Company currently has a legally enforceable right to set off the amounts
and it intends either to settle them on a net basis or to realise the assets and settle the liabilities
simultaneously.

(B) Other Statutory Information

1 There are no proceedings initiated or pending against the company under Section 24 of The Prohibition of Benami Property, 1988 and rules made thereunder for
holding any benami property.

2 The company has not been declared wilful defaulters by any bank or financial institution or consortium thereof in accordance with the guidelines on wilful defaulters
issued by RBI.

3 The company does not have any transactions with struck off under Section 248 of the Companies Act, 2013.

4 There is no charge or satisfaction of charge which is yet to be registered with ROC beyond the statutory period.

5 The company has complied with the number of layers prescribed under Section 2(87) of the Companies Act, 2013 read with the Companies (Restriction on Number of
Layers) Rules, 2017.

6 The company has not entered into any scheme of arrangement in terms of Section 230 to 237 of the Companies Act, 2013.

7 The Company has not advanced or loaned or invested funds (either borrowed funds or share premium or any other sources or kinds of funds) to any other person or

entity, including foreign entities ("Intermediaries") with the understanding (whether recorded in writing or otherwise) that the intermediary shall, whether directly or
indirectly lend or invest in other person / entities identified in any manner whatsoever by or on behalf of the company ("Ultimate Beneficiaries") or provide any
guarantee, security or the like on behalf of Ultimate Beneficiaries.

8 The Company has not received any fund from any other person or entity, including foreign entities ("Funding Party") with the understanding (whether recorded in
writing or otherwise) that the company shall directly or indirectly lend or invest in other person / entities identified in any manner whatsoever by or on behalf of the
Funding Party ("Ultimate Beneficiaries") or provide any guarantee, security or the like on behalf of Ultimate Beneficiaries.

9 The company does not have any transaction not recorded in the books of accounts that has been surrendered or not disclosed as income during the year in tax
assessments under the Income Tax Act, 1961.

10 The company has not traded or invested in Crypto Currency or Virtual Currency during the reporting periods.

11 The company has not been sanctioned working capital limit in form of term loans and overdraft facilities.

12 There are no immovable property in the books of the company whose title deed is not held in the name of the company.

28. Note on Audit Trail

The Company uses an accounting software for maintaining its books of account which has a feature of recording audit trail (edit log) facility and the same has
operated throughout the year for all relevant transactions recorded in the accounting software. Further no instance of audit trail feature being tampered with
was noted in respect of the accounting software.

29. Some of the Balances of sundry creditors, sundry debtors, loans & advances, and other liabilities are subject to balance confirmation.

30. Segment Information

Operating segments are reported in a manner consistent with the internal reporting provided to the Chief Operating Decision Maker (CODM). The CODM is
considered to be the Board of Directors who makes strategic decisions and is responsible for allocating resources and assessing performance of the operating
segments.

Trading in Textile is the Company''s only business segment ,hence the disclosure of segment wise information as required by Ind AS 108 on "Segment Reporting”
is not applicable .

31. Capital management

The Company manages its capital to ensure business continuity and maximize shareholder value by maintaining an optimal balance between debt and equity. It
assesses capital needs through annual planning, funding them via equity, internal accruals, and both short- and long-term borrowings. The Company also aims to
maintain a strong capital base to sustain future growth and uphold investor, creditor, and market confidence.

32. Financial Risk Management

The Company''s principal financial liabilities, comprise loans and borrowings, trade and other payables. The main purpose of these financial liabilities is to finance
the Company''s operations and to provide guarantees to support its operations. The Company''s principal financial assets include loans, trade and other
receivables, and cash and cash equivalents that derive directly from its operations.

The Company''s activities expose it to a variety of financial risks: credit risk, liquidity risk and interest rate risk. The Company''s primary focus is to foresee the
unpredictability of financial markets and seek to minimize potential adverse effects on its financial performance.

The Board of Directors reviews and agrees policies for managing each of these risks, which are summarised below:

A. Credit Risk

Credit risk is the risk of financial loss to the Company if a customer or counter party to a financial instrument fails to meet its contractual obligations, and arises
principally from the Company''s receivables from customers and investment securities. Credit risk arises from cash held with banks and financial institutions, as
well as credit exposure to clients, including outstanding accounts receivable. The maximum exposure to credit risk is equal to the carrying value of the financial
assets. The objective of managing counterparty credit risk is to prevent losses in financial assets. The Company assesses the credit quality of the counter parties,
taking into account their financial position, past experience and other factors.

(i) Trade and other receivables

The Company''s exposure to credit risk is influenced mainly by the individual characteristics of each customer. The demographics of the customer, including the
default risk of the industry and country in which the customer operates, also has an influence on credit risk assessment. In addition, receivable balances are
monitored on an ongoing basis with the result that the Company''s exposure to Bad debt is not significant. Also the Company does not enter into sales
transaction with customers having credit loss history. There are no significant Credit risk with related parties of the Company. The Company''s is exposed to
Credit risk in the event of non payment of customers. Credit risk concentration with respect to Trade Receivables is mitigated by the Company''s large customer
base. Adequate expected credit losses are recognised as per the assessment.

(ii) Bank Deposits

The company maintains its cash and cash equivalents and bank deposits with reputed and highly rated bank. Hence, there is no significant credit risk on such
deposits.

(iii) Investments

The Company limits its exposure to credit risk by generally investing in liquid securities and only with counterparties that have a good credit rating. The company
does not expect any losses from non- performance by these counter-parties, and does not have any significant concentration of exposures to specific industry
sectors.

Liquidity risk

Liquidity risk is the risk that the Company will not be able to meet its financial obligations as they become due. The Company manages its liquidity risk through
credit limits with banks.

The Company''s corporate treasury department is responsible for liquidity, funding as well as settlement management. In addition, processes and policies related
to such risks are overseen by senior management.

The management assessed that fair value of cash and short-term deposits, trade receivables, trade payables, and other current financial assets and liabilities
approximate their carrying amounts largely due to the short-term maturities of these instruments.

The fair value of the financial assets and liabilities is included at the amount at which the instrument could be exchanged in a current transaction between
willing parties, other than in a forced or liquidation sale.

Fair Value Hierarchy

Level 1: Level 1 hierarchy includes financial instruments measured using quoted prices. This includes listed equity instruments and mutual fund units that have a
quoted price. The fair value of all equity instruments which are traded on the Stock Exchanges is valued using the closing price as at the reporting period. The
mutual fund units are valued using the closing net assets value.

Level 2: The fair value of financial instruments that are not traded in an active market (for example over-the-counter derivatives) is determined using valuation
techniques which maximise the use of observable market data and rely as little as possible on observable, the instrument is included in level 2.

Level 3: If one or more of the significant inputs is not based on observable market data, the instrument is included in level 3.

34. Events Occurring after the reporting period

The Company evaluates events and transactions that occur subsequent to the balance sheet date but prior to the approval of financial statements to determine
the necessity for recognition and/or reporting of any of these events and transactions in the financial statements. As of the date of signing of this financial
statements, there were no subsequent events to be recognised or reported that are not already disclosed.

35. Disclosure Regarding Derivative Instruments and Unhedged Foreign Currency Exposure

i) The company does not have any Foreign currency exposures which is not covered by derivative instruments or otherwise as at March 31, 2025 & March 31,
2024.

ii) The Company does not have any outstanding foreign currency derivative contracts as at March 31, 2025 & March 31, 2024 in respect of various types of
derivative hedge instruments and nature of risk being hedged.

iii) The Company does not enters into derivative financial instruments such as foreign currency forward and option contracts to mitigate the risk of changes in
exchange rates on foreign currency exposures.

36. Recent Pronouncements

Ministry of Corporate Affairs ("MCA") notifies new standards or amendments to the existing standards under Companies (Indian Accounting Standards) Rules as
issued from time to time. For the year ended March 31, 2025, MCA has notified Ind AS - 117 Insurance Contracts and amendments to Ind AS 116 - Leases,
relating to sale and leaseback transactions, applicable to the Company w.e.f. April 1, 2024. The Company has reviewed the new pronouncements and based on
its evaluation has determined that it does not have any significant impact in its financial statements.

37. The Standalone financial statements were authorized for issue in accordance with a resolution passed by the Board of Directors and are subject to final
approval by its Shareholders.

The accompanying notes are an integral part of these financial statements.

For, Aniket Goyal & Associates For and on behalf of Board of Directors of

Chartered Accountants 7NR Retail Limited

Firm Registration No.: 022331C

Chetan Ojha Avantinath Anilkumar Raval

Managing Director Director

Aniket Goyal DIN: 09706197 DIN: 07686783

(Proprietor)

Membership No.: 423707

Pradeepsingh Shekhawat Purvi Agrawal

(Chief Financial Officer) (Company Secretary)

Place: Ahmedabad

UDIN: 25423707BMLMAN8125 Place: Ahmedabad

Date: 13th May, 2025 Date: 13th May, 2025

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Mar 31, 2024

PROVISION, CONTINGENT LIABILITIES ANDCONTINGENT ASSETS

Provisions: Provisions are recognized when there is a present obligation as result of a past
event, it is probable that an outflow of resources embodying economic benefits will be
required to settle the obligation and there is a reliable estimate of the amount of the
obligation. Provisions are measured at the best estimate of the expenditure required to settle
the present obligation at the Balance Sheet date and are not discounted to its present value.

Contingent Liabilities : Contingent liabilities are not provided for in the books but are
disclosed by way of notes in the financial statements when there is a possible obligation
arising from past events, the existence of which will be confirmed only by the occurrence or
nonoccurrence of one or more uncertain future events not wholly within the control of the
company or a present obligation that arises from past events where it is either not probable
that an outflow of resources will be required to settle or a reliable estimate of the amount
cannot be made.

Contingent Assets: Contingent Assets are neither recognized nor disclosed in the financial
statements.

EARNINGS PER SHARE (EPS)

The earnings considered in ascertaining the Company’s earnings per share comprise the net
profit after tax (and include post tax effect of any extraordinary items.) The number of shares
used in computing basic earnings per share is the weighted average number of shares
outstanding during the period. The number of shares used in computing diluted earnings per
share comprises of the weighted average number of shares outstanding during the period. The
number of shares used in computing diluted earnings per share comprises of the weighted
average shares considered for deriving basic earning per share, and also the weighted average
number of equity shares which could have been issued on conversion of all dilutive potential
equity shares.

RELATED PARTY TRANSACTIONS

Related party transactions are transfer of resources or obligations between related parties,
regardless of whether a price is charged. Parties are considered to be related, if one party has
the ability, directly or indirectly, to control the other party of exercise significant influence over
the other party in making financial or operating decisions. Parties are considered to be related
if they are subject to common control or common significant influence.

SEGMENT REPORTING

Operating segments are reported in a manner consistent with the internal reporting
provided by Chief Financial Officer and Director of the Company jointly and responsible for
allocating resources, assess the financial performance of the Company and make strategic
decisions.

The Company has identified one reportable segment “trading of textile products” based on
information reviewed by them.

DIVIDEND:

Dividend declared is provided in books of account when the same is approved by shareholders’.

EMPLOYEE BENEFITS

• Short-term Obligations

Liabilities for wages and salaries, including non-monetary benefits that are expected
to be settled wholly within 12 months after the end of the period in which the
employees render the related service are recognised in respect of employees’ services
up to the end of the reporting period and are measured at the amounts expected to
be paid when the liabilities are settled. The liabilities are presented as current
employee benefit obligations in the balance sheet.

• Post Employee Obligations

The Company operates the following post-employment schemes:

• defined contribution plans such as provident fund.

• Gratuity obligations

The Company had an obligation towards gratuity - a defined benefit retirement plan
covering eligible employees. The plan provides a lump sum payment to vested
employees at retirement, death while in employment or on termination of an
employment of an amount equivalent to 15 days salary payable for each completed
years of service or part thereof in excess of six months. Vesting occurs upon
completion of five years of service and is payable thereafter on occurrence of any of
above events.

As per information provided by the Company, there are no employees who have
served more than 5 years.

• Defined contribution plans

Retirement benefit in the form of provident fund is a defined contribution scheme. The
company has no obligation, other than the contribution payable to the provident fund.
The company recognizes contribution payable to the provident fund scheme as an
expense, when an employee renders the related service. If the contribution payable to
the scheme for service received before the balance sheet date exceeds the contribution
already paid, the deficit payable to the scheme is recognized as a liability after
deducting the contribution already paid.

FOREIGN CURRENCY TRANSACTIONS
Initial Recognition:

On initial recognition, all foreign currency transactions arerecorded by applying to the foreign
currency amount the exchange rate between the functional currency and the foreign currency
at the date of the transaction.

Subsequent Recognition:

As at the reporting date, non-monetary items which arecarried in terms of historical cost
denominated in a foreigncurrency are reported using the exchange rate at the date ofthe
transaction. All non-monetary items which are carried atfair value or other similar valuation
denominated in a foreigncurrency are reported using the exchange rates that existedwhen the
values were determined. All monetary assets and liabilities in foreign currency arereinstated at
the end of accounting period.Exchange differences on reinstatement of all monetary itemsare
recognised in the Statement of Profit and Loss.

FINANCIAL INSTRUMENTS

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

Initial recognition and measurement

All financial assets are initially recognised when the Company becomes a party to the
contractual provisions of the instrument. All financial assets are initially measured at fair value
plus, in the case of financial assets not recorded at fair value through profit or loss, transaction
costs that are attributable to the acquisition of the financial asset.

Subsequent measurement

? Classification

For the purpose of subsequent measurement, the Company classifies financial assets in
following categories:

• Financial assets at amortised cost

Financial assets at amortized cost are subsequently measured at amortized cost
using the effective interest method. The amortized cost is reduced by impairment
losses, if any. Interest income and impairment are recognized in the Statement of
Profit and Loss.

• Financial assets at fair value through other comprehensive income (FVTOCI)
These assets are subsequently measured at fair value through other comprehensive
income (OCI). Changes in fair values are recognized in OCI and on derecognition,

cumulative gain or loss previously recognized in OCI is reclassified to the Statement
of Profit and Loss. Interest income calculated using EIR and impairment loss, if any,
are recognized in the Statement of Profit and Loss.

• Financial assets at fair value through profit or loss (FVTPL)

These assets are subsequently measured at fair value. Net gains and losses,
including any interest income, are recognized in the Statement of Profit and Loss.

Financial assets are not reclassified subsequent to their recognition except if and in the
period the Company changes its business model for managing for financial assets.

De-recognition

The Company derecognises a financial asset when the contractual rights to the cash flows
from the financial asset expire, or it transfers the rights to receive the contractual cash flows
in a transaction in which substantially all of the risks and rewards of ownership of the
financial asset are transferred or in which the Company neither transfers nor retains
substantially all of the risks and rewards of ownership and it does not retain control of the
financial asset.

If the Company enters into transactions whereby it transfers assets recognised on its
balance sheet, but retains either all or substantially all of the risks and rewards of the
transferred assets, the transferred assets are not derecognised.

Any gain or loss on derecognition is recognised in the Statement of Profit and Loss.
Impairment of financial assets

The Company applies the expected credit loss model for recognizing impairment loss on
financial assets measured at amortized cost, lease receivable, trade receivable other
contractual rights to receive cash or other financial assets. For trade receivable, the
Company measures the loss allowance at an amount equal to life time expected credit
losses. Further, for the measuring life time expected credit losses allowance for trade
receivable the Company has used a practical expedient as permitted under Indian AS 109.
This expected credit loss allowance is computed based on provisions, matrix which takes
into account historical credit loss experience and adjusted for forward looking information.

FINANCIAL LIABILITIES

Initial recognition and measurement

All financial liabilities are initially recognised when the Company becomes a party to the
contractual provisions of the instrument. All financial liabilities are initially measured at
amortized cost unless at initial recognition, they are classified as fair value through profit or
loss. In case of trade payables they are initially recognize at fair value and subsequently,
these liabilities are held at amortized cost, using the Effective interest method.

Classification and subsequent measurement

Financial liabilities are classified as measured at amortised cost or FVTPL.

A financial liability is classified as FVTPL if it is classified as held-for-trading, or it is a
derivative or it is designated as such on initial recognition. Financial liabilities at FVTPL are
measured at fair value and net gains and losses, including any interest expense, are
recognised in the Statement of Profit and Loss.

Financial liabilities other than classified as FVTPL, are subsequently measured at amortized
cost using the effective interest method. Interest expense is recognised in Statement of Profit
and Loss. Any gain or loss on derecognition is also recognised in the Statement of Profit and
Loss.

De-recognition

A financial liability is derecognized when the obligation under the liability is discharged or
cancelled or expires. When an existing financial liability is replaced by another from the
same lender on subsequently different terms, or the terms of an existing liability are
subsequently modified, such an exchange or modification is treated as the derecognition of
the original liability and the recognition of the new liability. The difference in the respective
carrying amount is recognize in the Statement of Profit & Loss.

Offsetting of financial instruments

Financial assets and financial liabilities are offset and the net amount presented in the
balance sheet when, and only when, the Company currently has a legally enforceable right
to set off the amounts and it intends either to settle them on a net basis or to realise the
assets and settle the liabilities simultaneously.

Offsetting of financial instruments

Financial assets and financial liabilities are offset and the net amount presented in the
Earnings per share
Basic earnings per share

Basic earnings per share is calculated by dividing:

? the profit attributable to owners of the Company

? by the weighted average number of equity shares outstanding during the financial year,
adjusted for bonus elements in equity shares issued during the year and excluding treasury
shares.

Diluted earnings per share

Diluted earnings per share adjust the figures used in the determination of basic earnings
per share to take into account:

? after income tax effect of interest and other financing costs associated with dilutive
potential equity shares, and

the weighted average number of additional equity shares that would have been outstanding
assuming the conversion of all dilutive potential equity shares

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Mar 31, 2018

NOTES ON ACCOUNTS:

a) Foreign Currency Earning / Expenditure:- NIL

b) Related Party Disclosures:-

a) Transactions with Related Parties as specified under Accounting Standard - 18 issued by the Institute of Chartered Accountant of India-

Enterprises over which Key Managerial Personnel exercises significant influence	NIL
Key Managerial Personnel ( KMP) on the Board
Mr. Final Shah	Promoter- Managing Director
Mrs. Riddhi Shah	Promoter- Director
Mrs. Nutanben Patel	Promoter
Miss. Shaili Mehta	Company Secretary
Mr. Mittal Shah	CFO (appointed w.e.f 14th November, 2018)
Mr. Kunjal Panchal	CFO (Resigned w.e.f 21st August, 2017)

b) Particulars of Related Party Transactions:-

(Amount in Lakh)
Particulars	Salary/ Remuneration		Purchase/ Sale				O/S Payable
	2017-18	2016-17	2017-18		2016-17		2017-18	2016-17
			Purchase	Sale	Purchase	Sale
Final Shah	6.00	4.25	Nil	Nil	Nil	Nil	0.45	Nil
Riddhi Shah	5.66	4.10	Nil	Nil	Nil	Nil	0.43	Nil
Nutan Patel	2.90	3.12	Nil	Nil	Nil	Nil	Nil	Nil
Shaili Mehta	2.15	0.37	Nil	Nil	Nil	Nil	0.22	0
Kunjal Panchal	0.80	0.19	Nil	Nil	Nil	Nil	Nil	0
Mittal Shah	0.79	0	Nil	Nil	Nil	Nil	0.16	0
7NRInc	NA	NA	0.50	0.66	7.33	16.81	11.13	9.48

c) Capacity & Production: -

Currently the Company is not engaged in any manufacturing business activities. Therefore no details can be provided.

d) In the opinion of the Board of Directors, Current Assets, Loans and Advances have a value of realization equivalent to the amount at which they are stated in the Balance Sheet. Adequate provisions have been made in the accounts for all the known liabilities.

e) The balance of Sundry Creditors, Sundry Debtors, and Loans & Advances are unsecured, considered good and reconciled from subsequent transaction and/ or confirmations are obtained.

f) Previous year''s figures have been regrouped / reclassified wherever necessary to confirm to current year''s classification.

g) As informed to us, there are no contingent liabilities as on Balance Sheet Date.

h) During the year, the Company had raised fund through IPO amounting to Rs 511.92 lakh and the said funds to be used in Issue Expenses amounting To Rs. 30.00 lakh and balance Rs. 481.92 lakh in working capital requirements. However, the Company had used the funds as per object of the issue and Interim Utilisation of Balance IPO proceeds as on balance sheet date was as a Fixed Deposits in Banks amounting to Rs 40.00 lakh.

i) As certified by the Directors all amounts in the Balance Sheet relating to Sundry Debtors, Sundry Creditors, Unsecured Loans, Deposits, Loans and advances are shown at net realizable or net payable as the case may be.

j) As certified by Company that it has received written representation from all the Directors, that Companies in which they are Directors had not defaulted in terms of section 164 (2) of the Companies Act, 2013, and that representation of Directors taken in Board that Director is disqualified from being appointed as Director of the Company.

As per our report of even date.	For and on behalf of Board of Directors
For, Loonia & Associates,
Chartered Accountants
Sd/-	Sd/-	Sd/-
Hitesh Loonia	Pinal Shah	Riddhi Shah
Proprietor	Managing Director	Director
M.No. 135424
Firm Reg No 130883W
	Sd/-	Sd/-
Place: Ahmedabad	Shaili Mehta	Mittal Shah
Date: 30.05.2018	Company Secretary	Chief Financial Officer