Gujarat Credit Corporation Ltd. के अकाउंट के लिये नोट

Mar 31, 2025

10.5 Terms/ Rights attached to Equity Shares :

The Company has only one class of Ordinary shares having a face value of Rs. 10 per share and each holder of Ordinary shares is entitled to one vote per share. The Company declares and pays dividends in Indian Rupees. The dividend proposed by the Board of Directors (except interim dividend) is subject to the approval of the shareholders in the Annual General Meetings. The claim of Ordinary Shareholders on earnings and on assets in the event of liquidation, follows all others, in proportion to their shareholding.

10.8 In the period of five years immediately preceding March 31, 2025:

i) The Company has not allotted any equity shares as fully paid up without payment being receiv

ii) The Company has not allotted any equity shares by way of bonus issue.

iii) The Company has not bought back any equity shares.

10.9 No ordinary shares have been reserved for issue under options and contracts/ commitments for the sale of shares/ disinvestment as at the Balance Sheet date.

11.1 Retained Earning

Retained earnings are the profits that the Company has earned till date, less any transfer to general reserve, dividends or other distributions to shareholders.

11.2. a Equity Instrument through Other Comprehensive Income

Equity Instrument through Other Comprehensive Income is Created Due to Change In Fair Value of Investment

11.2. b Special Reserve

Special Reserve was Created U/s 45 IA of RBI Act

14(a). 1 Disclosure as required under the Micro, Small and Medium Enterprises Development Act, 2006, to the extent ascertained, and as per notification number GSR 679 (E) dated 4th September, 2015. The Company has compiled this information based on intimation received from the suppliers of their status as Micro or Small Enterprises and/or its registration with appropriate authority under the Micro, Small and Medium Enterprises Act, 2006 ("MSMED Act").

27 Contingent Liabilities and Contingent Assets

27.1 Claims/Disputes/Demands no t acknowledged as debts:

	Sl. No.	Particulars		Year Ended March 31, 2025		Year Ended March 31, 2024
		Nil		-		-
28 28.1	Commitments Estimated amount of contracts remaining to be executed on Capital Account and not provided for:
	Particulars		Year Ended March 31, 2025		Year Ended March 31, 2024
	Estimated amount of contracts remaining to be executed on Capital Account Less: Advance Net		-		-

30.2 The management assessed that the fair values of cash and cash equivalents, trade receivables, trade payables, short term borrowings, and other financial liabilities approximates their carrying amounts largely due to the short-term maturities of these instruments.

30.3 For Financial assets and liabilities that are measured at fair value, the carrying amounts are equal to their fair values.

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

30.5 The following methods and assumptions were used to estimate the fair values:

30.5.1 The securities being listed, the fair value has been taken at the market rates of the same as on the reporting dates. They are classified as Level 1 fair values in fair value hierarchy.

30.5.2 The fair values for loans, security deposits approximates their carrying amounts. They are classified as Level 3 fair values in the fair value hierarchy due to the inclusion of unobservable inputs including counterparty credit risks, which has been assessed to be insignificant.

31 Fair Value Hierarchy

The following are the judgements and estimates made in determining the fair values of the financial instruments that are (a) recognized and

measured at fair value and (b) measured at amortized cost and for which fair value are disclosed in the financial statements. To provide an indication about the reliability of the inputs used in determining fair value, the Company has classified its financial instruments into the three levels of fair value measurement as prescribed under the Ind AS 113 "Fair Value Measurement”. An explanation of each level follows underneath the tables.

31.2 During the year ended March 31, 2025 and March 31, 2024, there were no transfers between Level 1 and Level 2 fair value measurements, and no transfer into and out of Level 3 fair value measurements

31.3 Explanation to the fair value hierarchy

The Company measures financial instruments, such as, quoted investments at fair value at each reporting date. Fair value is the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. All assets and liabilities for which fair value is measured or disclosed in the financial statements are categorised within the fair value hierarchy, described as follows, based on the lowest level input that is significant to the fair value measurement as a whole:

31.3.1 - Level 1 Hierarchy includes financial instruments measured using

quoted prices. This includes listed equity instruments that have quoted price. The fair value of all equity instruments which are traded in the stock exchanges is valued using the closing price as at the reporting period.

31.3.2 - Level 2 The fair value of financial instruments that are not traded in

an active market is determined using valuation techniques which maximise the use of observable market data and rely as little as possible on entity-specific estimates. If all significant inputs required to fair value an instrument are observable, the instrument is included in level 2.

31.3.3 - Level 3 If one or more of the significant inputs is not based on

observable market data, the instrument is included in level 3. This is the case for unlisted equity securities, contingent consideration included in level 3.

32 Financial Risk Management

Interest rate risk arises from the sensitivity of financial assets and liabilities to changes in market rates of interest. As at March 31, 2025, none of the Company''s Borrowings are at fluctuating rate of interest (Previous year: Nil)

32.1 Credit Risk

Credit risk is the risk that a counterparty will not meet its obligations under a financial instrument or customer contract, leading to a financial loss. The Company is exposed to credit risk from its operating activities (primarily trade receivables) and from its financing activities, including deposits with banks, foreign exchange transactions and other financial instruments.

Trade receivables

Refer Note 8 for ageing analysis

32.2 Liquidity Risk

Liquidity risk is the risk that the Company may not be able to meet its present and future cash and collateral obligations without incurring unacceptable losses. The Company''s objective is to, at all times maintain optimum levels of liquidity to meet its cash and collateral requirements. The Company closely monitors its liquidity position and deploys a robust cash management system. It maintains adequate sources of financing including term loans, debt and overdraft from domestic banks at an optimised cost.

32.3 Market Risk

Market risk is the risk that the fair value of future cash flows of a financial instrument will fluctuate because of changes in market prices. Market risk comprises three types of risk: interest rate risk, currency risk and other price risk, such as equity price risk and commodity risk. Financial instruments affected by market risk include borrowings, deposits, trade and other receivables, trade and other payables.

32.3.1 Interest Rate Risk

The Company is exposed to risk due to interest rate fluctuation, on the following: a Interest rate risk arises from the sensitivity of financial assets and liabilities to changes in market rates of interest.

b As at March 31, 2025, none of the Company''s Borrowings are at fluctuating rate of interest (Previous year: Nil)

33 Captial Management

For the purpose of the Company’s capital management, capital includes issued equity capital and all other equity reserves attributable to the equity holders of the Company. The primary objective of the Company’s capital management is to ensure that it maintains an efficient capital structure and healthy capital ratios in order to support its business and maximise shareholder value.

The Company manages its capital structure and makes adjustments to it in light of changes in economic conditions or its business requirements. To maintain or adjust the capital structure, the Company may adjust return capital to shareholders or issue new shares. The Company monitors capital using a gearing ratio, which is net debt divided by total capital plus net debt. The Company includes within net debt, interest bearing loans and borrowings less cash and short-term deposits (including other bank balance).

In order to achieve this overall objective, the Company’s capital management, amongst other things, aims to ensure that it meets financial covenants attached to the interest-bearing loans and borrowings that define capital structure requirements. Breaches in meeting the financial covenants would permit the bank to immediately call loans and borrowings. There have been no breaches in the financial covenants of any interest-bearing loans and borrowing in the current period.

No changes were made in the objectives, policies or processes for managing capital during the years ended March 31, 2025 and March 31, 2024.

Loan

covenants

Under the terms of the major borrowing facilities, the Company has complied with the required financial covenants through out the reporting periods.

34 Segment Reporting34.1 Primary Segment

The Company is primarily engaged in the business of trading of Real Estate materials, which in the context of Indian Accounting Standard 108 ''Operating Segment'', constitutes a single reportable primary business segment.

34.2 Secondary Segment

The risk and returns of the Company are not influenced by geographical location of its operations or location of its customers. Both are situated in India.

35 Other Notes

a Utilisation of borrowed funds

During the year ended March 31, 2025, and March 31, 2024, the Company has not advanced or loaned or invested funds (either borrowed funds or share premium or kind of funds) to any other person(s) or entity(ies), including foreign entities (Intermediaries) with the understanding (whether recorded in writing or otherwise) that the Intermediary shall:

i) directly or indirectly lend or invest in other persons or entities identified in any manner whatsoever by or on behalf of the Company (Ultimate Beneficiaries) or

ii) provide any guarantee, security or the like to or on behalf of the ultimate beneficiaries.

Further, during the year ended March 31, 2025, and March 31, 2024, the Company has not received any fund from any person(s) or entity(ies), including foreign entities (Funding Party) with the understanding (whether recorded in writing or otherwise) that the Company shall:

i) directly or indirectly lend or invest in other persons or entities identified in

any manner whatsoever by or on behalf of the Funding Party (Ultimate Beneficiaries) or

ii) provide any guarantee, security, or the like on behalf of the ultimate beneficiaries.

b Details of crypto currency or virtual currency

The Company has not invested or traded in Crypto Currency or Virtual Currency during the year ended March 31, 2025 (PY: Nil)

c Details of benami property held

No proceedings have been initiated on or are pending against the Company for holding benami property under the Prohibition of Benami Property Transactions Act, 1988 (as amended in 2016) (formerly the Benami Transactions (Prohibition) Act, 1988 (45 of 1988)) and Rules made thereunder during the year ended March 31, 2025 (PY: Nil).

d Willful Defaulter

The Company has not been declared Willful Defaulter by any bank or financial institution or government or any government authority during the year ended March 31, 2025 (PY: Nil).

e Undisclosed Income

The Company has not surrendered or disclosed as income any transactions not recorded in the books of accounts in the course of tax assessments under the Income Tax Act, 1961 (such as, search or survey or any other relevant provisions of the Income Tax Act, 1961) during the year ended March 31, 2025 (PY: Nil).

f Relationship with struck off companies

The Company does not have any transactions with the companies struck off under section 248 of the Companies Act, 2013 or section 560 of the Companies Act, 1956 during the year ended March 31, 2025 (PY: Nil) g Compliance with number of layers of companies

The Company has complied with the number of layers prescribed under clause (87) of section 2 of the Act read with the Companies (Restriction on number of Layers) Rules, 2017.

h Compliance with approved Scheme(s) of Arrangements

The Company has entered into an scheme of arrangement as disclosed in note 43. The accounting effect of such scheme has been accounted for in the books of account of the Company in accordance with "the Scheme" and Ind AS.

i Valuation of Property, Plant and Equipments

The Company has not revalued its Property, Plant and Equipments during the current or previous year.

36 The Code of Social Security, 2020 (''Code'') has been notified in the Official Gazette of India on September 29, 2020, which could impact the contributions of the Company towards certain employment benefits. The effective date from which changes are applicable is yet to be notified. Impact, if any, of the change will be assessed and accounted in th period of notification of the relevant provisions.

37 Events occuring 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 subsequent events and transactions in the financial statements. As of June 23, 2025 there were no subsequent events and transactions to be recognized or reported that are not already disclosed.

38 Material regroupings

Appropriate adjustments have been made in the statements of assets and liabilities, statement of profit and loss and cash flows, wherever required, by a reclassification of the corresponding items of income, expenses, assets, liabilities and cash flows in order to bring them in line with the groupings as per the audited financials of the Company as at March 31, 2025.

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Mar 31, 2024

10.5 Terms/ Rights attached to Equity Shares :

The Company has only one class of Ordinary shares having a face value of Rs. 10 per share and each holder of Ordinary shares is entitled to one vote per share. The Company declares and pays dividends in Indian Rupees. The dividend proposed by the Board of Directors (except interimdividend) is subject to the approval of the shareholders in the Annual General Meetings. The claim of Ordinary Shareholders on earnings and on assets in the event of liquidation, follows all others, in proportion to their shareholding.

10.8 In the period of five years immediately preceding March 31, 2024:

i) The Company has not allotted any equity shares as fully paid up without payment being received in cash.

ii) The Company has not allotted any equity shares by way of bonus issue.

iii) The Company has not bought back any equity shares.

10.9 No ordinary shares have been reserved for issue under options and contracts/ commitments for the sale of shares/ disinvestment as at the Balance Sheet date.

11.1 Retained Earning

Retained earnings are the profits that the Company has earned till date, less any transfer to general reserve, dividends or other distributions to shareholders.

11.2. a Equity Instrument through Other Comprehensive Income

Equity Instrument through Other Comprehensive Income is Created Due to Change In Fair Value of Investment

11.2. b Special Reserve

Special Reserve is Created U/s 45 IA of RBI Act

14.1 Disclosure as required under the Micro, Small and Medium Enterprises Development Act, 2006, to the extent ascertained, and as per notification number GSR 679 (E) dated 4th September, 2015. The Company has compiled this information based on intimation received from the suppliers of their status as Micro or Small Enterprises and/or its registration with appropriate authority under the Micro, Small and Medium Enterprises Act, 2006 ("MSMED Act").

c Terms and conditions of transactions with related parties

Loans taken From the related party are interest free.

d Commitments with related parties

The Company does not have any commitment to the related party as at March 31, 2024 (Previous year: Nil).

27	Contingent Liabilities and Contingent Assets
27.1	Claims/Disputes/Demands not acknowledged as debts:
	Sl. No.	Particulars	Year Ended	Year Ended
			March 31, 2024	March 31, 2023
		Nil	-	-

30 Fair Values

30.1 Set out below is a comparison, by class, of the carrying amounts and fair value of the Company''s financial instruments, other than those with carrying amounts that are reasonable approximations of fair values:

30.2 The management assessed that the fair values of cash and cash equivalents, trade receivables, trade payables, short term borrowings, and other financial liabilities approximates their carrying amounts largely due to the short-term maturities of these instruments.

30.3 For Financial assets and liabilities that are measured at fair value, the carrying amounts are equal to their fair values.

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

30.5 The following methods and assumptions were used to estimate the fair values:

30.5.1 The securities being listed, the fair value has been taken at the market rates of the same as on the reporting dates. They are classified as Level 1 fair values in fair value hierarchy.

30.5.2 The fair values for loans, security deposits approximates their carrying amounts. They are classified as Level 3 fair values in the fair value hierarchy due to the inclusion of unobservable inputs including counterparty credit risks, which has been assessed to be insignificant.

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Mar 31, 2021

1) All the debit & credit balances are subject to confirmation of the parties concerned. Hence, accounts are subject to adjustments if any variation found in confirmation.

2) Physical verification of cash as on the year end as on 31/03/2021 has not carried out by us.

3) The audit is conducted under the requirement of Companies Act and includes examination on a test basis, evidence supporting the amount and disclosures in the financial statement in accordance with the auditing standards generally accepted in India.

4) Our responsibility is to express an opinion on the Financial Statements which is the responsibility of the directors of the company.

5) We relied on vouchers duly certified by the assessee wherever original bills are not available during the test check conducted in the course of our audit.

6) Contingencies, Event occurring after balance sheet date & Prior Period Items:

A disclosure for a contingent liability is made when there is a possible obligation or a present obligation that may, but properly will not, require an outflow of resources. When there a possible obligation in respect of which the like hood of outflow of resources is remote, no provision or disclosure is made.

No material event took place after the date of balance sheet which represents material changes and commitments affecting the financial position except some expenses are received after the date of balance sheet but containing the period of accounts hence journalized

Out of the Total Income & Expenses incurred during the year, no item pertains to prior period.

7) The organization has entered into financial transactions with related parties. Disclosure of the same is

All the information and explanations which to the best of our knowledge and belief were necessary for the purpose of our audit has been provided by the Assessee.

Loans and Advances are considered good in respect of which company does not hold any security other than the personal guarantee of persons.

10) No provision for retirement benefits has been made, in view of accounting policy No. 11. The impact of the same on Profit & Loss is not determined.

11) Provisions and Contingent Assets :

A provision is recognized when there is present obligation as a result of past events and it is probable that there will be an outflow of resources to settle the obligation, in respect of which a reliable estimate can be made. Provisions are determined based on the best estimates required to settle the obligation at the balance sheet date. These are reviewed at each balance sheet date & adjusted to reflect the current best estimates.

The gain arising from the contingent assets is ignored by the organization.

12) Figures of the previous year have been regrouped and recast wherever found necessary to make them comparable with the figures of current year.

13) No depreciation is provided on Diesel generator set as being idle and not put to use.

Others: (Corporate)

1) Estimated amount of contracts remaining to be executed on capital account and not provided for Rs.Nil. (P.Y: Nil)

2) The Enterprise has made provision for Income Tax of Rs.45000.

3) In the opinion of the directors:

- The current assets, loans and advances are approximately of the value stated if realized in the ordinary course of business.

- The provision for depreciation and for all known liabilities is adequate and not in excess of amount reasonably necessary.

4) There are no employees employed through or for any part of the year who are in receipt of remuneration in excess of prescribed limit in the Companies Act.

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Mar 31, 2014

1. RELATED PARTY DISCLOSURE UNDER ACCOUNTING STANDARD-18:-(i) The list of Related Party is as identified by the management are as under.

a. Associates GCCLConstruction & Realities Ltd., GCCL Infrastructure & Projects Ltd., GCCLSecuritiesLtd., GCCL Housing Finance Ltd., DMCC Oil Terminals (Navlakhil Ltd.

b. Joint ventures None

c. Subsidiaries None

d. Individuals owing, directly or Shri Babubali S. Shah indirectly, an interest in the ShriAmamS. Shah voting power of the reporting Shri Shreyansh S. Shah enterprise that gives them control Shri Smrutiben S. Shah orsignificant influence over the ShriBinotiA. Shah enterprise, & relatives of any such individuals.

e. Key Management Personnel &relatives of Key Management Personnel. None

f. Enterprise over which any person described in [d] or [e] is As mentioned in [a] above & able to exercise significant influence. This exercise Aaspas Investment Pvt. Ltd.,

significant influence includes enterprises owned by Indian chronical Ltd.,

Directors or major shareholders of the reporting LokPrakashanLtd.,

enterprise that have a member of Key Management Zora Traders Ltd.,

Personnel in ommon with the reporting enterprise. L''P''Mercanti|e Ltd-

(ii The Company has identified all related parties and details of transactions are below. No provision for doubtful debts or advances is required to be made & no amounts have been written off or written back during the year in respect of debts due from or to related parties. There are no other related parties where control exists that need to be disclosed.

2. MISCELLANEOUS EXPENDITURE:-

[01 ] Miscellaneous Expenditure consist or preliminary & Public Issue expenses written of equally over a period of 10 years.

[02] The figures of previous year have been regrouped and rearranged to make them comparable with those of the current year.

[03] Company has yet to obtain the confirmation from the loans and Advances, creditors and other balances. If any adjustment necessary the same will be made on the receipt of the same.

[04] In the opinion of the Board, Current Assets, Loans and Advances, are approximately of the value if realized in the ordinary course of the business. The provision for the depreciation and all known liabilities are adequate and not in excess of the amount realizably necessary.

[05] No provision has been made for accruing liability for future payment of gratuity to employees as none of the employee have become entitled forgratuity underthe Payment of Gratuity Act.

[06] The Company has made investments in different companies as detailed in schedule 3 to the balance sheet. For quoted investment, as there is no market quote available, the aggregate market value of such investment is not ascertainable and details not available for the same valuation. Its book value is Rs. 33,890,557/- [Previous year Rs.33,890,5577-] The company has made in the past provision for diminution is NIL in the value & further provision for diminution in value has not been made, of these investments which is not in agreement with the accounting Standard 13 (AS-13) in respect of "Accounting of Investments" issued by the "Institute of Chartered Accountants of India".

[07] The public issueAccounts are subjectto reconciliation.

[08] There are no other details to be given as required under para 4-c and 4-d of part III of Schedule VI of Companies Act, 1956.

[09] Estimated amount of contracts remaining to be executed on capital account (net of advance) Rs. NIL (P.Y.NIL).

[10] Transactionofstockduringtheyear. NIL

[11] Audit Fees

2013-14 2012-13

Rs.25000 Rs. 22472

[12] Earning Per Share:

The company reports basic and diluted earnings per share in accordance with Accounting Standard (AS) 20 - Earning per Share issued by the Institute of Chartered Accountants of India. Basic Earning per share are computed by dividing the net profit or loss for the year by the weighted average number of equity share outstanding during the year. Diluted earnings per share is computed by dividing the net profit or loss for the year by the weighted average number of Equity Shares outstanding during the year as adjusted for the effects of all dilutive potential equity share, except where the results are anti-dilutive.

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Mar 31, 2013

1. CORPORATE INFORMATION

Gujarat Credit Corporation Limited is a public company domiciled in india and incorporated under Companies Act, 1956. The Company is in the business of real estate development.

1. Information in respect of Opening Stock, Receipts, Sales and Closing Stock. NIL

2. Balances of Sundry debtors, Sundry creditors, loans and advances are subject to confirmation.

3. The dues to sundry creditor being SSI industry has not been worked out and the information is under process.

4. Previous year''s figures have been regrouped, rearranged wherever necessary to make them comparable to the current year''s figures.

5. Quoted Investment in Shares of GCCL Infrastructure & Projects Ltd, Despite there being no transaction. in respect of shares of GCCL Infrastructure & Projects Ltd and permanent diminution in the cost of investment, the shares of GCCL Infrastructure & Projects Ltd. are taken at cost.

6. In the opinion of the Board, the 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.