Manas Properties Ltd. के अकाउंट के लिये नोट

Mar 31, 2024

2.17 Provision and Contingent Liabilities:

The Company creates a provision where there is present obligation as a result of a past event that probably
requires an outflow of resources and a reliable estimate can be made of the amount of the obligation. A
disclosure for a contingent liability is made where there is a possible obligation that may, but probably will not
require an outflow of resources. When there is a possible obligation in respect of which the likelihood of
outflow of resources is remote, no provision or disclosure is made.

For Ashok Shyam & Associates. For and on behalf of the Board of the Directors

Chartered Accountants
Firm Reg. No. 011223N

Sd Sd

Vijay thakkar Dev Thakkar

Sd Director Managing Director & CEO

FCA Deepak Khanna DIN : 00189355 DIN : 07698270

Partner

Membership No.:083466

Place: Mumbai Sd Sd

Date: 29 May 2024 Kamlesh Thakkar Jaswant Kumawat

UDIN Chief Financial Officer Company Secretary

Place : Mumbai

Date 29th May 2024 Date¹: [ 29th May 2024

26 Corporate social responsibility expenditure

As per the Section 135 of the Companies Act, 2013 every year the Company is required to spend at least 2% of its average net profit made during the
immediately 3 preceding financial years on the Corporate Social Responsibility (CSR) activities. Gross amount required to be spent by the company
during the year is Rs.20.33 Lakhs (PY Rs. 11.04 Lakhs) and actually spent by the Company during the year is Rs.20.33 Lakhs (PY- Rs.11.04 Lakhs)

Corporate Social Responsibility is strongly connected with the principles of Sustainability. Your Company has made decisions based not only on financial
factors, but also on the social and environmental factors. Therefore, it is the core Corporate Responsibility to practice the corporate values through our
commitments to grow in a socially and environmentally responsible way, while meeting the interests of our stakeholders. Out of the prescribed areas,
(a) depending upon the locational set up, need and requirement of area and people residing areas, Company has decided to undertake activities under broad
areas for purpose of CSR in line with its objective towards CSR:

28 World Health Organisation (WHO) declared outbreak of Coronavirus Disease (COVID-19) a global pandemic on 11th March,2020.Consequent to this,
Government of India declared lockdown on 23rd March,2020 and the Company temporarily suspended the operations in complaince with the lockdown
instructions issued by the Central & State Governments.COVID-19 has impacted the normal business operations of the Company by way of interruption in
rental income, unavailability of personnel etc.during the lockdown period.The management of the Company believes that no adjustments are required as it
does not impact substantially the current financial year. However, in view of the various preventive measures taken (such as complete lockdown
restrictions by the Government of India,travel restrictions etc.) and highly uncertain economic environment, the Company had to forgo revenue of
Rs.65,34,89,330 on account of Covid from March 2020 to December 2021.

29 The Company has significant impact on its operation due to Covid 19 pandemic and there was uncertainty of ultimate collection of income due to lock
down and severe impact of COVID 19 on hospitality sector. Therefore the Company had stopped recognising income from March, 2020 till 31 December
2021 (of Rs.65,34,89,330) in accordance with AS -9 on “Revenue Recognition” on the ground of prudence. The Company and lessor had filed settlement
in the Court of law and the honorable Court of Law has directed the lessor to pay rent from 1 January 2022 onwards Rs.2,50,00,000 per month as per
revised terms. Accordingly, the Company has recognised revenue from 1 January 2022 onwards.

30 The Company does not have any intangible assets under development.

31 The Company does not hold any Benami Property as defined under Benami T ransactions (Prohibition) Act (45) of 1988 and rules made thereunder.

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

33 The Company does not have any transactions with companies struck off under section 248 of Companies Act 2013 or Section 560 of Companies Act
1956, during the financial year ending 31 March 2024 and 31 March 2023.

34 Utilisation of borrowed funds and share premium

(a) No funds (which are material either individually or in the aggregate) have been advanced or loaned or invested (either from borrowed funds or share
premium or any other sources or kind of funds) by the Company to or in any other person or entity, including foreign entity (“Intermediaries”), with the
understanding, whether recorded in writing or otherwise, that the Intermediary shall, whether, 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 provide any guarantee, security or the like on behalf of
the Ultimate Beneficiaries.

(b) No funds (which are material either individually or in the aggregate) have been received by the Company from any person or entity, including foreign
entity (“Funding Parties”), with the understanding, whether recorded in writing or otherwise, that the Companyshall, whether, 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 provide any
guarantee, security or the like on behalf of the Ultimate Beneficiaries.

35 The Company does not have any undisclosed income during the financial year ended 31 March 2024 and 31 March 2023.

36 The Company does not traded or invested in Crypto Currency or Virtual Currency during the financial year ended 31 March 2024 and 31 March 2023.

37 In the opinion of the Board, the Company has made adequate provisions for all the known liabilities and the same is not in excess of the amounts
considered as reasonably necessary.

38 Prior Year Comparatives:

Previous year’s figures are regrouped, rearranged or reclassified wherever considered necessary, to confirm to the current year’s classification.

Signature to Notes 1 to 38 forming part of the Financial Statements
As per our report of even date attached

For and on behalf of the Board of the Directors

Sd Sd Sd

For Ashok Shyam & Associates.

Chartered Accountants Vijay Thakkar Dev Thakkar

Firm Reg. No. 011223N Director Managing Director & CEO

DIN : 00189355 DIN : 07698270

Sd Sd Sd

FCA Deepak Khanna

Partner Kamlesh Thakkar Jaswant Kumawat

Membership No.:083466 Chief Financial Officer Company Secretary

Place: Delhi

Place : Mumbai ⁷⁸

Date: 29 May 2024 Date: 29 May 2024

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Mar 31, 2018

1 Background & General Information

Manas Properties Limited, formerly known as Manas Properties Private Limited (“the Company”), got listed at BSE SIME platform on 30 March 2017, is domiciled in Mumbai, India. The registered office of Company is 10th Floor, Dev Plaza, Opp. Andheri Fire Station, S.V. Road, Andheri (West), Mumbai, Maharashtra, India. The Company was incorporated on 02 November 2004. The Company is engaged in the business of Construction, Redevelopment and Leasing of Properties.

a. Terms Rights attached to equity shares:

The Company has only one class of equity shares of face value of Rs 10 per share, Each holder of equity shares is entitled to one vote per equity share. A member shall not have any right to vote whilst any call or other sum shall be due and payable to the Company in respect of any of the shares of such member. Ali equity shares of the Company rank pari passu in all respects including the right to dividend. The dividend is recommended by the Board of Directors and declared by the members a! the ensuing Annua! general Meeting. The Board of Directors have a right to deduct from the dividend payable to any member any sum due from him to the Company.

The Shareholders have all other rights as available to Equity Shareholders as per the provisions of the Companies Act, 2013, read together with the Memorandum of Association and Articles of Association ofiheCompany.as applicable.

2 In the opinion of the Board, the current assets, loans and advances have the value at which they are stated in the balance sheet, if realised in the ordinary course of business.

3 In the opinion of the Board, the Company has made adequate provisions for all the known liabilities and the same is not in excess of the amounts considered as reasonably necessary.

4 Micro, Small and Medium Enterprises Development Act. 2006:

Under the Micro, Small and Medium Enterprises Development Act, 200S which came into force from 2nd October, 2006, certain disclosure are required to be made relating to Micro, Small and Medium Enterprises. On the basis of the information and records available with the management, there are no parties registered as Micro, Small and Medium Enterprises with whom the Company has carried out any transactions.

5 Segment Reporting:

The Company is operating in the single segment of real estate broking and has income within India. Therefore, the Company has only one reportable business segment, which is real estate brokers and only one reportable geographical segment. Accordingly, these financial statements are reflective of the information required by the Accounting Standard 17, for the real estate and property development segment.

6 Related Party Transaction:

Disclosures as required by Accounting Standard (AS) - 18 “Related Party Disclosure” are as under:

7 Details of Leasing arrangements :

The Company has not taken any asset on lease during the current or previous year.

8 Duririg the last year, ihe Company had completed the Initial Public Offer (IPO) and raised a total capital of Rs. 540.00 lakhs comprising a fresh issue of 150,000 Equity Shares of face value of Rs. 10/- each for cash at a premium of Rs. 350/- Per Share. The equity shares of the company were listed on BSE SME Platform effective from 30th March, 2017. The proceeds from IPO has been fully deployed for the purpose of the objects as stated in the prospectus dated 08th March, 2017

9 The Company, consequent upon dispute with the party, has not recognised lease rental in absence of certainty of receipt. Further, the Company is exploring various options, including legal course, to recover ihe dues from the Party.

10 Prior Year Comparatives:

Previous year’s figures are regrouped, rearranged or reclassified wherever considered necessary, to confirm to the current year’s classification.