ART Nirman Ltd. के अकाउंट के लिये नोट

Mar 31, 2025

17. Following matters are in the nature of either Provisions or contingent liabilities:

i) . The Director General of Goods & Services Tax Intelligence Zonal Unit, Ahmedabad,

conducted search in the premises of the company on 12/10/2018 and impounded certain material. The investigation is concluded for certain matter for which 444.10 Lakhs amount has been paid which is recognized as expense in Statement of Profit and Loss of the financial 2021-22. However, for another matter the appeal has been filed against demand of Rs. 59,70,176 for which the company has paid RS 10,44,783/- as GST Pre-deposit for Appeal and Pre-deposit amount considered under Balance sheet.

ii) . The Company has filed as appeal to relevant authority against GST order DRC-07 dated

29/08/2024, in which Total demand of Rs. 1,54,36,193/- has been determined by the State tax officer.

iii) . The Company has entered in to Bank Guarantee agreement with Kotak Mahindra Bank

Limited which has total value of Rs. 5,85,06,040/- relevant for Project-Nidhi 100.

18. The figures of the previous period/year have been regrouped/recast/reclassified wherever considered necessary to conform to the current year''s presentation.

Note 1: Net Account Receivable as on 31/03/2024 and 31/03/2025 taken as Average of closing balance shown in Financials.

Note 2: Net Account Payable as on 31/03/2024 and 31/03/2025 taken as Average of closing balance shown in Financials.

*There are no debt having fixed repayment obligation and hence DSCR not reported.

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Mar 31, 2024

7. Provisions and contingent liabilities

A provision is recognized when the Group 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 (excluding retirement benefits) are discounted to their present value and are determined based on the best estimate required to settle the obligation at the Balance Sheet date. These are reviewed at each Balance Sheet date and adjusted to reflect the current best estimates.

Contingent liabilities are disclosed in the notes. Contingent liabilities are disclosed for:

i) possible obligations which will be confirmed only by future events not wholly within the control of the Group; or

(1) present obligations arising from past events where it is not probable that an outflow of resources will be required to settle the obligation or a reliable estimate of the amount of the obligation cannot be made.

8. Leases

Leases under which the company assumes substantially all the risks and rewards of ownership are classified as finance leases. When acquired, such assets are capitalized at fair value or present value of the minimum lease payments at the inception of the lease, whichever is lower. Lease under which the risks and rewards incidental to ownership are not transferred to lessee is classified as operating lease. Lease payments under operating leases are recognized as an expense on a straight line basis in net profit in the statement of profit and loss over the lease term.

9. Borrowing costs

Borrowing costs that are directly attributable to the acquisition / construction of qualifying assets or for long - term project development are capitalized as part of their costs.

Borrowing costs are considered as part of the asset cost when the activities that are necessary to prepare the assets for their intended use are in progress.

Borrowing costs consist of interest and other costs that incurs in connection with the borrowing of funds. Other borrowing costs are recognized as an expense, in the period in which they are incurred.

10. Segment Reporting

The Company has only one segment i.e. "Real Estate". Hence there are no reportable segments under IND AS-108 (Operating Segments). During the year under Report, the company has carried out all the business operations in India. The conditions prevailing in India being uniform, no separate geographic disclosure are considered necessary Hence segment reporting is not required.

11. Cash and cash equivalents

Cash and cash equivalent in the financial statement comprise cash at banks and on hand, demand deposit and short-term deposits, which are subject to an insignificant risk of changes in value.

For the purpose of the statement of cash flows, cash and cash equivalents consist of cash and short term deposits, as defined above.

12. Employee benefits

i) Short term employee benefits

Short-term employee benefits are measured on an undiscounted basis and are expensed as the related service is provided. A liability is recognised for the amount expected to be paid if the Company has a present legal or constructive obligation to pay this amount as a result of past service provided by the employee and the obligation can be estimated reliably.

ii) Defined contribution plans

Obligations for contributions to defined contribution plans such as Provident Fund and Employee State Insurance Corporations are expensed as the related service is provided.

iii) Defined Benefit Plans

The liability for the Gratuity is debited to the Profit & Loss Account is charged as and when the liability is crystalized and paid and to that extent IND AS -19 is deviated. However its effect on financial statements is not material.

13. Revenue Recognition

The revenue from the project related to real estate developments is recognized on the basis of conveyance deed executed with the members of the scheme and possession given to the members, on a year to year basis in pursuance of Indian Accounting Standard - 115 (Ind AS - 115) and Guidance Note on Real Estate Developers (Revised), 2012, issued by ICAI.

The revenue from the Works Contract related projects is recognized as per the terms and conditions of the "Works Contract Agreement" and accordingly periodic invoices are raised.

Interest Income is recognized on time proportion basis taking into account outstanding balance and rate of interest agreed upon with the parties.

14. Income tax

Income tax expense comprises current tax expense and the net change in the deferred tax asset or liability during the year. Current and deferred taxes are recognized in statement of profit and loss, except when they relate to items that are recognized in other comprehensive income or directly in equity, in which case, the

current and deferred tax are also recognized in other comprehensive income or directly in equity, respectively.

i) Current tax

Current tax comprises the expected tax payable or receivable on the taxable income or loss for the year and any adjustment to the tax payable or receivable in respect of previous years. It is measured using tax rates enacted or substantively enacted at the reporting date.

ii) Deferred tax

Deferred tax is recognized in respect of temporary differences between the carrying amounts of assets and liabilities for financial reporting purposes and the amounts used for taxation purposes.

Deferred tax assets are recognized for unused tax losses, unused tax credits and deductible temporary differences to the extent there is convincing evidence that sufficient taxable profit will be available against which such deferred tax asset can be realized. Deferred tax assets are reviewed at each reporting date and are reduced to the extent that it is no longer probable that the related tax benefit will be realized; such reductions are reversed when the probability of

future taxable profits improves.

Unrecognized deferred tax assets are reassessed at each reporting date and recognized to the extent that it has become probable that future taxable profits will be available against which they can be used.

Deferred tax is measured at the tax rates that are expected to be applied to temporary differences when they reverse, using tax rates enacted or substantively enacted at the reporting date.

The measurement of deferred tax reflects the tax consequences that would follow from the manner in which the Company expects, at the reporting date, to recover or settle the carrying amount of its assets and liabilities

iii) Minimum Alternative Tax (MAT)

MAT credit is recognized as a deferred tax asset only when and to the extent there is convincing evidence that the Company will pay normal tax during specified period. MAT credit is reviewed at each balance sheet date and written down to the extent the aforesaid convincing evidence no longer exists.

Note 1: Net Account Receivable as on 31/3/23 and 31/03/24 taken as Average of closing balance shown in Financials.

Note 2: Net Account Payable as on 31/3/23 and 31/03/24 taken as Average of closing balance shown in Financials.

*There are no debt having fixed repayment obligation and hence DSCR not reported.

For, Arpan Shah & Associates Fo r and on behalf of the Board of

Chartered Accountants ART NIRMAN LIMITED

FRN No: 125049W

Ashokkumar Thakker Piyushkumar Thakkar

CA Arpan Shah Chairman & MD Executive Director

Proprietor (DIN: 02842849) (DIN: 07555460)

Membership No: 116736 UDIN:24116736BKELXB3879

PLACE: AHMEDABAD Chetan Kumar Modi Yesha Shah

Date: 14/08/2024 Chief Financial Officer Company Secretary

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Mar 31, 2023

7. Provisions and contingent liabilities

A provision is recognized when the Group 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 (excluding retirement benefits) are discounted to their present value and are determined based on the best estimate required to settle the obligation at the Balance Sheet date. These are reviewed at each Balance Sheet date and adjusted to reflect the current best estimates.

Contingent liabilities are disclosed in the notes. Contingent liabilities are disclosed for:

i) possible obligations which will be confirmed only by future events not wholly within the control of the Group; or

ii) present obligations arising from past events where it is not probable that an outflow of resources will be required to settle the obligation or a reliable estimate of the amount of the obligation cannot be made.

8. Leases

Leases under which the company assumes substantially all the risks and rewards of ownership are classified as finance leases. When acquired, such assets are capitalized at fair value or present value of the minimum lease payments at the inception of the lease, whichever is lower. Lease under which the risks and rewards incidental to ownership are not transferred to lessee is classified as operating lease. Lease payments under operating leases are recognized as an expense on a straight line basis in net profit in the statement of profit and loss over the lease term.

9. Borrowing costs

Borrowing costs that are directly attributable to the acquisition / construction of qualifying assets or for long - term project development are capitalized as part of their costs.

Borrowing costs are considered as part of the asset cost when the activities that are necessary to prepare the assets for their intended use are in progress.

Borrowing costs consist of interest and other costs that incurs in connection with the borrowing of funds. Other borrowing costs are recognized as an expense, in the period in which they are incurred.

10. Segment Reporting

The Company has only one segment i.e. "Real Estate". Hence there are no reportable segments under IND AS-108 (Operating Segments). During the year under Report, the company has carried out all the business operations in India. The conditions prevailing in India being uniform, no separate geographic disclosure are considered necessary Hence segment reporting is not required.

11. Cash and cash equivalents

Cash and cash equivalent in the financial statement comprise cash at banks and on hand, demand deposit and short-term deposits, which are subject to an insignificant risk of changes in value.

For the purpose of the statement of cash flows, cash and cash equivalents consist of cash and short term deposits, as defined above.

12. Employee benefits

i) Short term employee benefits

Short-term employee benefits are measured on an undiscounted basis and are expensed as the related service is provided. A liability is recognised for the amount expected to be paid if the Company has a present legal or constructive obligation to pay this amount as a result of past service provided by the employee and the obligation can be estimated reliably.

ii) Defined contribution plans

Obligations for contributions to defined contribution plans such as Provident Fund and Employee State Insurance Corporations are expensed as the related service is provided.

iii) Defined Benefit Plans

The liability for the Gratuity is debited to the Profit & Loss Account is charged as and when the liability is crystalized and paid and to that extent IND AS -19 is deviated. However its effect on financial statements is not material.

13. Revenue Recognition

The revenue from the project related to real estate developments is recognized on the basis of conveyance deed executed with the members of the scheme and possession given to the members, on a year to year

basis in pursuance of Indian Accounting Standard - 115 (Ind AS - 115) and Guidance Note on Real Estate Developers (Revised), 2012, issued by ICAI.

The revenue from the Works Contract related projects is recognized as per the terms and conditions of the "Works Contract Agreement" and accordingly periodic invoices are raised.

Interest Income is recognized on time proportion basis taking into account outstanding balance and rate of interest agreed upon with the parties.

14. Income tax

Income tax expense comprises current tax expense and the net change in the deferred tax asset or liability during the year. Current and deferred taxes are recognized in statement of profit and loss, except when they relate to items that are recognized in other comprehensive income or directly in equity, in which case, the current and deferred tax are also recognized in other comprehensive income or directly in equity, respectively.

i) Current tax

Current tax comprises the expected tax payable or receivable on the taxable income or loss for the year and any adjustment to the tax payable or receivable in respect of previous years. It is measured using tax rates enacted or substantively enacted at the reporting date.

ii) Deferred tax

Deferred tax is recognized in respect of temporary differences between the carrying amounts of assets and liabilities for financial reporting purposes and the amounts used for taxation purposes.

Deferred tax assets are recognized for unused tax losses, unused tax credits and deductible temporary differences to the extent there is convincing evidence that sufficient taxable profit will be available against which such deferred tax asset can be realized. Deferred tax assets are reviewed at each reporting date and are reduced to the extent that it is no longer probable that the related tax benefit will be realized; such reductions are reversed when the probability of

future taxable profits improves.

Unrecognized deferred tax assets are reassessed at each reporting date and recognized to the extent that it has become probable that future taxable profits will be available against which they can be used.

Deferred tax is measured at the tax rates that are expected to be applied to temporary differences when they reverse, using tax rates enacted or substantively enacted at the reporting date.

The measurement of deferred tax reflects the tax consequences that would follow from the manner in which the Company expects, at the reporting date, to recover or settle the carrying amount of its assets and liabilities

iii) Minimum Alternative Tax (MAT)

MAT credit is recognized as a deferred tax asset only when and to the extent there is convincing evidence that the Company will pay normal tax during specified period. MAT credit is reviewed at each balance sheet date and written down to the extent the aforesaid convincing evidence no longer exists.

15. Earnings per Share

i) Basic Earnings Per Share

Basic earnings per share are computed 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.

Note 1 : Net Account Receivable as on 31/3/22 and 31/03/23 taken as Average of closing balance shown in Financials.

Note 2 : Net Account Payable as on 31/3/22 and 31/03/23 taken as Average of closing balance shown in Financials.

*There are no debt having fixed repayment obligation and hence DSCR not reported.

For, Arpan Shah & Associates F or and on behalf of the Board of

Chartered Accountants ART NIRMAN LIMITED

FRN No: 125049W

Ashokkumar Thakker Piyushkumar Thakkar

CA Arpan Shah Chairman & MD Executive Director

Proprietor (DIN: 02842849) (DIN: 07555460)

Membership No: 116736 UDIN: 23116736BGPREN6507 Peer Review Certificate No.:014622

PLACE: AHMEDABAD Chetankumar M od i Yesha Shah

Date: 14/08/2023 Chief Financial Officer Company Secretary

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Mar 31, 2022

7. Provisions and contingent liabilities

A provision is recognised when the Group 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 (excluding retirement benefits) are discounted to their present value and are determined based on the best estimate required to settle the obligation at the Balance Sheet date. These are reviewed at each Balance Sheet date and adjusted to reflect the current best estimates.

Contingent liabilities are disclosed in the notes. Contingent liabilities are disclosed for:

i) possible obligations which will be confirmed only by future events not wholly within the control of the Group; or

ii) present obligations arising from past events where it is not probable that an outflow of resources will be required to settle the obligation or a reliable estimate of the amount of the obligation cannot be made.

8. Leases

Leases under which the company assumes substantially all the risks and rewards of ownership are classified as finance leases. When acquired, such assets are capitalized at fair value or present value of the minimum lease payments at the inception of the lease, whichever is lower. Lease under which the risks and rewards incidental to ownership are not transferred to lessee is classified as operating lease. Lease payments under operating leases are recognized as an expense on a straight line basis in net profit in the statement of profit and loss over the lease term.

9. Borrowing costs

Borrowing costs that are directly attributable to the acquisition / construction of qualifying assets or for long - term project development are capitalised as part of their costs.

Borrowing costs are considered as part of the asset cost when the activities that are necessary to prepare the assets for their intended use are in progress.

Borrowing costs consist of interest and other costs that incurs in connection with the borrowing of funds. Other borrowing costs are recognised as an expense, in the period in which they are incurred.

10. Segment Reporting

The Company has only one segment i.e. “Real Estate". Hence there are no reportable segments under IND AS-108 (Operating Segments). During the year under Report, the company has carried out all the business operations in India. The conditions prevailing in India being uniform, no separate geographic disclosure are considered necessary Hence segment reporting is not required.

11. Cash and cash equivalents

Cash and cash equivalent in the financial statement comprise cash at banks and on hand, demand deposit and short-term deposits, which are subject to an insignificant risk of changes in value.

For the purpose of the statement of cash flows, cash and cash equivalents consist of cash and short term deposits, as defined above.

12. Employee benefits

i) Short term employee benefits

Short-term employee benefits are measured on an undiscounted basis and are expensed as the related service is provided. A liability is recognised for the amount expected to be paid if the Company has a present legal or constructive obligation to pay this amount as a result of past service provided by the employee and the obligation can be estimated reliably.

ii) Defined contribution plans

Obligations for contributions to defined contribution plans such as Provident Fund and Employee State Insurance Corporations are expensed as the related service is provided.

iii) Defined Benefit Plans

The liability for the Gratuity is debited to the Profit & Loss Account is charged as and when the liability is crystalized and paid and to that extent IND AS -19 is deviated. However its effect on financial statements is not material.

13. Revenue Recognition

The revenue from the project related to real estate developments is recognized on the basis of conveyance deed executed with the members of the scheme and possession given to the members, on a year to year basis in pursuance of Indian Accounting Standard - 115 (Ind AS -

115) and Guidance Note on Real Estate Developers (Revised), 2012, issued by ICAI.

The revenue from the Works Contract related projects is recognized as per the terms and conditions of the “Works Contract Agreement” and accordingly periodic invoices are raised.

Interest Income is recognized on time proportion basis taking into account outstanding balance and rate of interest agreed upon with the parties.

14. Income tax

Income tax expense comprises current tax expense and the net change in the deferred tax asset or liability during the year. Current and deferred taxes are recognized in statement of profit and loss, except when they relate to items that are recognized in other comprehensive income or directly in equity, in which case, the current and deferred tax are also recognized in other comprehensive income or directly in equity, respectively.

i) Current tax

Current tax comprises the expected tax payable or receivable on the taxable income or loss for the year and any adjustment to the tax payable or receivable in respect of previous years. It is measured using tax rates enacted or substantively enacted at the reporting date.

ii) Deferred tax

Deferred tax is recognised in respect of temporary differences between the carrying amounts of assets and liabilities for financial reporting purposes and the amounts used for taxation purposes.

Deferred tax assets are recognised for unused tax losses, unused tax credits and deductible temporary differences to the extent there is convincing evidence that sufficient taxable profit will be available against which such deferred tax asset can be realised. Deferred tax assets are reviewed at each reporting date and are reduced to the extent that it is no longer probable that the related tax benefit will be realised; such reductions are reversed when the probability of future taxable profits improves.

Unrecognised deferred tax assets are reassessed at each reporting date and recognised to the extent that it has become probable that future taxable profits will be available against which they can be used.

Deferred tax is measured at the tax rates that are expected to be applied to temporary differences when they reverse, using tax rates enacted or substantively enacted at the reporting date.

The measurement of deferred tax reflects the tax consequences that would follow from the manner in which the Company expects, at the reporting date, to recover or settle the carrying amount of its assets and liabilities

iii) Minimum Alternative Tax (MAT)

MAT credit is recognised as a deferred tax asset only when and to the extent there is convincing evidence that the Company will pay normal tax during specified period. MAT credit is reviewed at each balance sheet date and written down to the extent the aforesaid convincing evidence no longer exists.

22. Management has considered the consequences of Cash losses during the year and other events and conditions like, execution of first year of new project , work contracts on hand and as of that date, Current assets exceeds its total current liabilities. And hence it has determined that they do not create a material uncertainty that casts significant doubt upon the entity''s ability to continue as a going concern.

For, Arpan Shah & Associates F o r an d on behalf of the Board of

Chartered Accountants ART NIRMAN LIMITED

FRN No: 125049W

Ashokkumar Thakker Piyushkumar Thakkar CA Arpan Shah Chairman & MD Executive Director

Proprietor (DIN: 02842849) (DIN: 07555460)

Membership No: 116736 UDIN:22116736APZLKX4236

PLACE: AHMEDABAD Chetan Kumar M od i Yesha Shah

Date: 26/08/2022 Chief Financial Officer Company Secretary

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Mar 31, 2021

(b) Terms / rights attached to equity shares :

- The company has only one class of equity shares having a par value of Rs. 10 per share. Each holder of equity shares is entitled to one vote per share.

- The final dividend declared, if any, is subject to the approval of the members in the Annual General Meeting.

- In the event of liquidation of the Company, the holders of equity shares will be entitled to receive any of the remaining assets of the Company In proportion to the number of equity shares held by the shareholders, after distribution of all preferential amounts.

Note: (i)Security :

(a) First and exclusive charge through registered mortgage on 54 unsold units located at in the scheme named Shree Vishnudhara Garden forming part of Block no. 151 adm. 10623 sq.mts & Block no. 152 adm. 12039 sq.mts altogether adm. 22662 sq.mts ,T.P.scheme no. 34 ,F.P.no -52 adm. 13597 sq.mts of mouje jagatpur ,Sub - District Ahmedabad - 8 (Sola) & District Ahmedabad valuing Rs. 22.84 cr. (agreement value)

(b) First and exclusive charge by way of hypothecation over all present and future receivables from sold and unsold residential units through escrow account with stipulated 80% of standing Instructions (SI) with set - off to interest/principal,as applicable.

(c) DSRA of 3 months'' interest for proposed loan.

(d) Cross-link and cross-collateralization with property Kuber House ,S.P. No.(507/2,3,4)/2 ,F.P. No. 507/2,3,4,Mouje-sola ,Dist.Ahmedabad,Divine Highland Road ,Ahmedabad, by way of registered mortgage ,against loan of Rs.8 crores given to Mr. Kiritkumar Raghuram Thakkar

(ii) Rate of interest : 13 % p.a.linked to ABFL''s long term reference rate (LTRR) and Current ABFL LTRR is 17.85%,the current spread is -4.85%

(iii) Repayment Schedule:

EMI of 26,80,067/- as per repayment schedule from 13th to 60th month, starting after 12 months moratorium. Interest to be serviced every month during moratorium.

Note: Loan amount payable exceeding 12 months is classified as Long Term Borrowings and amount payable within 12 months is classified as short term borrowings as Current Maturity.

17. The Director General of Goods & Services Tax Intelligence Zonal Unit, Ahmedabad, conducted search in the premises of the company on 12/10/2018 and impounded certain material. The investigation is not yet concluded and the company is submitting requisite explanation from time to time to the department and hence no effect has been given in the financials being reported herewith as effects of the outcome could not be ascertained under AS 29.

18. The figures of the previous period/year have been regrouped/recast/reclassified wherever considered necessary to conform to the current year''s presentation.

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Mar 31, 2018

I. COMPANY’S OVERVIEW:

Art Nirman Limited (‘The Company’) was incorporated on 19-02-2011 vide Certificate of Incorporation No. U45200GJ2011PTC064107 under the Companies Act, 1956. The Company was converted into a limited company in 2016. The Company has raised the equity capital by issue & allotment of equity share through Initial Public Offer (IPO) during the previous year in September 2016 and listed with SME National Stock Exchange. The Company is engaged in the business of real estate development, building constructing of residential and commercial schemes, Hotels and Clubs, works contract and sale of real estate property.

A) RELATED PARTY TRANSACTIONS:-

Disclosure of transactions with Related Parties, as required by Accounting Standard 18 “Related Party Disclosures” as specified in the Companies (Accounting Standard) Rules 2006 (as amended) has been set out in a separate statement annexed to this note. Related parties as defined under clause 3 of the Accounting Standard 18 have been identified on the basis of representation made by the management and information available with the Company.

(II) GENERAL NOTES:

As regards the other Accounting Standards, they are statutorily applicable to the Company i.e Art Nirman Limited but as there are no transactions inviting those Accounting Standards, no specific disclosures on the same are made.

(III) The company has entered into a Tri-Partite agreement dated 11/05/2016 with the Director Smt. Dharmishtaben Thakkar, who is owner of the land admeasuring about 7128 sq. mtr. situated at village Bhadaj, Taluka Ghatlodia in the Registration District and SubDistrict Ahmedabad and with Art Club Private Limited. As per the Tri-Partite agreement, the company has to build and develop First Club Facility infrastructure on the said land to be used by Art Club Pvt. Ltd. for a period of five years. The Art Club Pvt. Ltd. has to provide interest free security deposit to the company. It is agreed that after a period of five years from the date of execution of Tri-Partite agreement the company will handover the First Club Facility infrastructure to the land owner Smt. Dharmishtaben Thakkar on as it is and where it is basis and the company will refund the interest free security deposit to Art Club Pvt. Ltd.

It is further agreed that the company will charge rent of the First Club infrastructure for a period of four years starting from financial year 2017-18 from Art Club Pvt. Ltd. at Rs.2,25,000/- per month. As per the agreement, the company during the Financial Year 2016-17 had reimbursed the expenditure incurred by Smt. Dharmishtaben Thakkar in respect of First Club infrastructure for which necessary effects have been given in the books of the Company by crediting the account of Smt. Dharmisthaben Thakkar and Corresponding effect has been provided in the First Club building account shown under the fixed assets block of the Company.

(IV) NOTES ON ACCOUNTS

1. Previous year’s figures have been regrouped and reclassified, wherever necessary.

2. Cash balance is subject to physical verification.

3. The balances of Trade Payables and Loans and Advances appearing in the balance sheet are subject to confirmation by the respective parties.

4. According to the information available with the company, no amount is over due and outstanding at the close of the year payable to parties covered under Micro, Small and Medium Enterprises Act, 2006. This has been represented by the Management and has been relied upon by the Auditors. Consequently, no provision in the expenses payable on delayed payment as required by the said Act are necessary.