PAN HR Solution Ltd. ಖಾತೆಯ ಉಪಯುಕ್ತ ಮಾಹಿತಿ

Mar 31, 2024

L. PROVISIONS, CONTINGENT LIABILITIES AND CONTINGENT ASSETS

Provision is recognized in the accounts when there is a present obligation as a result of past
event(s) and it is probable that an outflow of resources will be required to settle the obligation
and a reliable estimate can be made. Provisions are not discounted to their present value and are
determined based on the best estimate required to settle the obligation at the reporting date.
These estimates are reviewed at each reporting date and adjusted to reflect the current best
estimates. Contingent liabilities are disclosed unless the possibility of outflow of resources is
remote. Contingent assets are neither recognized nor disclosed in the financial statements.

The title deeds of all immovable properties (other that properties where the company
is the lessee and the lease agreements are duly executed in favour of the lessee) as
disclosed in the financial statements are held in the name of the company . The
details of immovable property not held in the name of the company in the prescribed
format is as under

(ii) Revaluation of property, Plant & Equipment (PPE) or intangible assets:

The company has not revalued its property, plant & equipments or intangible assets.

(iii) Loan or Advances in the nature of loans granted to promoters, directors , KMPs and
the related parties (as defined under Companies Act, 2013) either severally or jointly
with any other person that are wither payable on demand or without specifying any
terms or period of repayment

(vi) Details of Benami Property held:

No proceedings have been initiated or pending against the company for holding any
benami property.

(vii) The company has not availed any borrowings from bank or financial institution on
the basis of security of current assets.

(viii) The company has not been declared a willful defaulter by any bank or financial
institution or other lender.

(ix) Relationship with struck off companies:-
The detail is as under:-

(xiii) No scheme of arrangement has been approved by the competent Authority in terms of
Section - 230 to 237 of the Companies Act, 2013.

(xiv) Utilization of borrowed funds and share premium:-

(A) 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(s) or entity(ies) including foreign entities (intermediaries) with the
understanding (whether recorded in writing or otherwise) that the intermediary
shall 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 to or on behalf of the ultimate
beneficiaries.

(B) The company has not received any funds 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 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.

(xv) The company has not surrendered or disclosed as income any transaction that has not
been recorded in the books of accounts during the year in the tax assessment under
the Income Tax Act, 1961.

(xvi) The company does not falls under the monetary limits specified u/s 135 of the
Companies Act, 2013 and hence disclosure requirement under Corporate Social
Responsibility (CSR) are not applicable.

(xvii) Details of Crypto Currency or Virtual Currency - No such transactions.