xiii Provisions, Contingent Liability and Contingent Asset
Provisions

Provisions are recognized in terms of Accounting Standard 29 Provisions, Contingent Liabilities and Contingent Assets (AS-29),
notified by the Companies (Accounting Standards) Rules, 2006, when there is a present legal or statutory obligation as a result of
past events, where it is probable that there will be outflow of resources to settle the obligation and when a reliable estimate of the
amount of the obligation can be made.

Contingent liabilities

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 the obligation cannot be made.
Obligations are assessed on an ongoing basis and only those having a largely probable outflow of resources are provided for.

Contingent assets

Contingent Assets are not recognized in the financial statements. involving substantial degree of estimation in measurement are
recognised when there is a present obligation as a result of past events and it is probable that there will be an outflow of economic
resources and a reliable estimate can be made of the amount of the obligation. These are reviewed at each balance sheet date and
adjusted to reflect the current best estimate.

xiv Statement of Cash Flows

Statement of Cash Flows is prepared segregating the cash flows from operating, investing and financing activities. Cash flow from
operating activities is reported using indirect method. Under the indirect method, the net profit is adjusted for the effects of:

i. transactions of a non-cash nature;

ii. any deferrals or accruals of past or future operating cash receipts or payments;

iii. items of income or expense associated from investing or financing cash flows; and

Cash and cash equivalents (including bank balances) are reflected as such in the Statement of Cash Flows.

xv Borrowing Cost

(a) Borrowing costs that are directly attributable to the acquisition of qualifying assets are capitalized for the period until the asset is
ready for its intended use. A qualifying asset is an asset that necessarily takes substantial period of time to get ready for its
intended use.

(b) Other Borrowing costs are recognized as expense in the period in which they are incurred.

xvi Earnings Per Share

Basic earnings per share are calculated 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. The weighted average numbers of equity shares are
adjusted for events such as bonus issue, bonus element in the rights issue, share split and reverse share split (consolidation of
shares) that have changed the number of equity shares outstanding, without corresponding change in resources.

For the purpose of calculating diluted earnings per share, the net profit or loss for the year attributable to equity shareholders and
the weighted average number of shares outstanding during the period are adjusted for the effects of all dilutive potential equity
shares.

34 In opinion of the Board, the loans & advances and other current assets have a value, which if realized in the ordinary course of business, will not be less than
the value stated in the Balance Sheet.

35 Balance appearing under loans & advances, trade receivables, trade payables, current assets and current liabilities are subject to confirmations in certain
cases.

36 Additional regulatory information

(i) There are no proceedings that have been initiated or pending against the Company for holding any benami property under the Prohibition of Benami Property Transactions Act, 1988 (as amended from time
to time) (earlier Benami Transactions (Prohibition) Act, 1988) and the rules made thereunder.

(ii) The Company has not been declared willful defaulter by any bank or financial institution or other lender.

(iii) There are no transactions / relationship with struck off companies.

(iv) The Company does not have any transaction not recorded in the books of accounts that has been surrendered or disclosed as income during the year in the tax assessments under the Income-tax Act, 1961

(such as, search or su^ey or any other relevant provisions of the Income-tax Act, 1961). Further, there was no previously unrecorded income and no additional assets were required to be recorded in the
books of account during the year.

(v) The Company has neither traded nor invested in Crypto currency or Virtual Currency during the year ended March 31,2024. Further, the Company has also not received any deposits or advances from any
person for the purpose of trading or investing in Crypto Currency or Virtual Currency.

(vi) Valuation of PP&E, intangible asset and investment property: The Company has not revalued its property, plant and equipment (including right-of-use assets) or intangible assets or both during the current
year.

(vii) The Company does not have any charges or satisfaction of charges which are yet to be registered with the Registrar of Companies beyond the statutory period.

(viii) The Company has not advanced or loaned or invested funds (either borrowed funds or share premium or any other sources or kind 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 persons/ entities identified in any other

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.

(ix) 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 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.

(x) The Company has complied with the number of layers prescribed under clause (87) of section 2 of the Act read with Companies (Restriction on number of Layers) Rules, 2017, and there are no companies
beyond the specified layers.

37 Figures for the previous year have been regrouped/reclassified/reinstated, wherever considered necessary.

This is the summary of material accounting policies and other explanatory information referred to in our report of even date.

For NYS & Company For and Behalf of Board of Directors

Chartered Accountants RESOURCEFUL AUTOMOBILE LIMITED

Firm Registration No.: 017007N

Sd/- Sd/- Sd/-

CA. Nitesh Agrawal Rahul Sawhney Bindu Sawhney

Partner Director Director

Membership No.: 527125 DIN: 07635427 DIN: 08060807

Place: New Delhi

Date: 30th May 2025 Sd/- Sd/-

UDIN: 25527125BMONPX4018 Mr. Vikas Bhatia Ms. Shilpi Shukla

Chief Financial Officer Company Secretary
A70285