అకౌంట్స్ గమనికలుArihant Institute Ltd.

Mar 31, 2025

q) Provision, Contingent Liabilities and Contingent Assets

Provision is recognized for when

i) The company has at present, legal or contractual obligation as a result of Past events,

ii) It is probable that an outflow of resources embodying economic outgo or loss will be
occurred, and;

iii) The amount involved can be measured reliably.

Contingent liabilities being a possible obligation as a result of Past events, the existence of
which will be confirmed only by the occurrence or non-occurrence of one or more future
events not wholly in control of the company are not recognized in the accounts. The nature
of such liabilities and an estimate of its financial effect are disclosed in notes to the Financial
Statements.

Contingent assets are neither recognized nor disclosed in the financial statements.

s) Accounting of claims

i) Claims received are accounted at the time of lodgment depending on the certainty of receipt
and claims payable are accounted at the time of acceptance.

ii) Claims raised by Government authorities regarding taxes and duties, which are disputed by
the company, are accounted based on legality of each claim. Adjustments, if any, are made
in the year in which disputes are finally settled.

t) Corporate Social Responsibility:

In case of CSR activities undertaken by the Company, if any expenditure of revenue nature is
incurred or an irrevocable contribution is made to any agency to be spent by the latter on any of the
activities mentioned in Schedule VII to the Companies Act, 2013, the same is charged as an expense
to its Statement of Profit and Loss.

Notes:

1) The figures in brackets represent outflows.

2) Previous periods'' figures have been regrouped / reclassified, whereever necessary, to confirm to current
year presentation.

3) The Cash Flow Statement has been prepared under the indirect method as set out in Accounting
Standard-3 on Cash Flow Statements issued by The Institute of Chartered Accountants of India.

25. Wherever, evidences / supporting for expenditure incurred by the Company are not
available, we have relied upon the Vouchers / Statements duly certified by the Directors.

26. It is not possible for us to verify whether the payment and receipt in excess of Rs. 200000/-
have been made otherwise then by crossed cheque or bank draft as the necessary evidence is
not in possession of the assessee. Payment in excess of aforesaid if any, make to Government
Authority or bank is not reported.

27. It is not possible for us to verify whether the expenses paid in excess of Rs 10000/- have been
made otherwise then by crossed cheque or bank draft as the necessary evidence is not in
possession of the assessee. Payment in excess of aforesaid if any, made to Government
Authority or bank is not reported.

28. It is not possible for us to verify whether the amount paid for assets in excess of Rs 10000/-
have been made otherwise then by crossed cheque or bank draft as the necessary evidence is
not in possession of the assessee. Payment in excess of aforesaid if any, made to Government
Authority or bank is not reported.

29. In the opinion of the management, current assets, loans & advances are approximately of
the values stated, if realized in the ordinary course of business. Balances of balance sheets
like debtors, creditors, loans, advances etc. including squired up accounts are subject to
confirmation and hence subject to adjustment, if any arising out of reconciliation.
Inventories are taken, as valued and certified by the assessee or management.

30. The Company has not received information from the suppliers regarding their status under
the Micro, Small & Medium Enterprises Development Act, 2006. Hence, disclosure, if any,
relating to amount unpaid as at the balance sheet date together with interest paid or
payable as per the requirement under the said Act have not been made, compiled &
disclosed.

31. Previous year figures are regrouped - rearranged wherever it required making them
comparable with the current year figures.

32. Dues of small enterprises and micro enterprises:

As explained to us and as per information and documents produced before us, the
company do not having information regarding status of Micro, Small and Medium status
of its creditors and hence we are not able to comment on the dues to MSME enterprises
and the periodicity and delay payments and to that the company had violation of the
MSME disclosure requirement.

33. The Company has elected to exercise the opinion permitted under Section 115BAA of the
Income Tax Act, 1961 as introduced by the Taxation Laws (Amendment) Ordinance, 2019
which gives a onetime irreversible option to domestic companies for payment of corporate
tax at reduced rates. Based on that provision for Income Tax is recorded.

34. The company has neither declared any Dividend nor paid any Dividend during the FY 2024¬
2025.

36. The Company does not have any relationship with struck off companies as on the balance
sheet date, and hence disclosure is not required for the relationship with struck off
companies.

37. The Company has not been declared willful defaulter by any bank or financial institution or
other lender or government or any government authority.

38. The Company has complied with the requirement with respect to number of layers as
prescribed under section 2(87) of the Companies Act, 2013 read with the Companies
(Restriction on number of layers) Rules, 2017.

39. Utilization of borrowed funds and share premium

I The Company has not advanced or loaned or invested funds to any other person(s) or
entity(ies), including foreign entities (Intermediaries) with the understanding that the
Intermediary shall:

(a) 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

(b) Provide any guarantee, security or the like to or on behalf of the ultimate
beneficiaries

II 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:

(a) 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

(b) provide any guarantee, security or the like on behalf of the ultimate beneficiaries

40. There is no income surrendered or disclosed as income during the year in tax assessments
under the Income Tax Act, 1961 (such as search or survey), that has not been recorded in the
books of account.

41. The Company has not traded or invested in crypto currency or virtual currency during the
year.

42. The Company does not have any charges or satisfaction of charges which is yet to be
registered with Registrar of Companies beyond the statutory period.

43. The Company does not have any benami property held in its name. No proceedings have
been initiated on or are pending against the Company for holding benami property under the
Benami Transactions (Prohibition) Act, 1988 (45 of 1988) and Rules made thereunder.

44. The Company has not prepared any scheme of Arrangements in terms of section 230 to 237
of the Companies Act, 2013.

47. DTA on carried forwarded loss has been not created in books of account as we get
explanation from the management regarding virtual uncertainty regarding future taxable
profit, so on prudence ground, it ignore creation of DTA while DTA-DTL already created on
depreciation provision. In view of the management, there was no certainty to set off of the
loss or depreciation arising due to timing difference and hence no provision for Deferred Tax
Assets has been provided for the year under audit

49. The company is in process of revamping its business and run business smoothly. The turnover
in current financial year the operational income is Rs. 9.48 Lakh as against Rs. 43.33 Lakh in
the immediate preceding financial year. However, considering the managements'' opinion
that situation revive in normal and business cycle recovered gradually, we have considered
the business as going concern.

50. Considering the accumulated brought forwarded losses and non-accepting various
government dues during the year 2024-2025 is operationally looks like non going concern,
but it is exceptional situation and hence management has assessed business as going
concern.

51. Preliminary Expenses not written off during the year under Audit.

52. The company has given Loans & Advances to certain parties since long, advances for
purchase of Fixed Assets to various parties since long and outstanding Debtors and there was
no transaction and the same accounts are stagnant. However, in view of the management,
the same are recoverable /payable and hence not written off.

53. As informed to us and as per information and explanation given to us, the company is selling
"Books" on which GST has not been charged as well as the company''s GST Registration
Number is cancelled and had neither filed GST Returns regular basis nor Paid GST on time
and to that extent the company is not in default under GST Rules and Regulation.

54. The Company is primarily engaged in "Educational & Coaching Services". The requirement of
AS-17 - "Segment Reporting", is not applicable to the Company as it is engaged in single
business segment.

55. Long term loans and advances has been processed for Confirmation. We received random
confirmations but management still under process to compile / received 100% confirmation
from all the parties. As it is confirmed by the Management, we have taken as correct subject
to confirmation.

56. Financial Risk management objectives: The financial risks mainly include market risk (interest
rate risk), credit risk and liquidity risk.

Signature of Note "1" to "56" forming part of Balance Sheet and Profit & Loss A/c.

AS PER OUR REPORT OF EVEN DATE ATTACHED HEREWITH.

For DEVADIYA & ASSOCIATES, For and on behalf of board of directors

CHARTERED ACCOUNTANTS OF ARIHANT INSTITUTE LIMITED

SD/-

SD/- SD/-

CA Sanjay Devadiya Sandip V. Kamdar Anjali Sandip Kamdar

PARTNER Whole Time Director Director

M No. 112495 & CEO & CFO

F R No. 123045W DIN:00043214 DIN: 00040963

UDIN: 25112495BMKTTZ9125

PLACE:AHMEDABAD PLACE: AHMEDABAD

DATE: 21/09/2025 DATE: 21/09/2025

---

Mar 31, 2024

q) Provision, Contingent Liabilities and Contingent Assets

Provision is recognized for when

i) The company has at present, legal or contractual obligation as a result of
Past events,

ii) It is probable that an outflow of resources embodying economic outgo or loss
will be occurred, and;

iii) The amount involved can be measured reliably.

Contingent liabilities being a possible obligation as a result of Past events, the
existence of which will be confirmed only by the occurrence or non¬
occurrence of one or more future events not wholly in control of the
company are not recognized in the accounts. The nature of such liabilities
and an estimate of its financial effect are disclosed in notes to the Financial
Statements.

Contingent assets are neither recognized nor disclosed in the financial
statements.

s) Accounting of claims

i) Claims received are accounted at the time of lodgment depending on the
certainty of receipt and claims payable are accounted at the time of
acceptance.

ii) Claims raised by Government authorities regarding taxes and duties, which
are disputed by the company, are accounted based on legality of each
claim. Adjustments, if any, are made in the year in which disputes are finally
settled.

t) Corporate Social Responsibility:

In case of CSR activities undertaken by the Company, if any expenditure of
revenue nature is incurred or an irrevocable contribution is made to any
agency to be spent by the latter on any of the activities mentioned in
Schedule VII to the Companies Act, 2013, the same is charged as an expense
to its Statement of Profit and Loss.

25. Wherever, evidences / supporting for expenditure incurred by the Company
are not available, we have relied upon the Vouchers / Statements duly
certified by the Directors.

26. It is not possible for us to verify whether the payment and receipt in excess of
Rs. 200000/- have been made otherwise then by crossed cheque or bank
draft as the necessary evidence is not in possession of the assessee. Payment
in excess of aforesaid if any, make to Government Authority or bank is not
reported.

27. It is not possible for us to verify whether the expenses paid in excess of Rs
10000/- have been made otherwise then by crossed cheque or bank draft as
the necessary evidence is not in possession of the assessee. Payment in
excess of aforesaid if any, made to Government Authority or bank is not
reported.

28. It is not possible for us to verify whether the amount paid for assets in excess of
Rs 10000/- have been made otherwise then by crossed cheque or bank draft
as the necessary evidence is not in possession of the assessee. Payment in
excess of aforesaid if any, made to Government Authority or bank is not
reported.

29. In the opinion of the management, current assets, loans & advances are
approximately of the values stated, if realized in the ordinary course of
business. Balances of balance sheets like debtors, creditors, loans, advances
etc. including squired up accounts are subject to confirmation and hence
subject to adjustment, if any arising out of reconciliation. Inventories are
taken, as valued and certified by the assessee or management.

30. The Company has not received information from the suppliers regarding their
status under the Micro, Small & Medium Enterprises Development Act, 2006.
Hence, disclosure, if any, relating to amount unpaid as at the balance sheet
date together with interest paid or payable as per the requirement under the
said Act have not been made, compiled & disclosed.

31. Previous year figures are regrouped - rearranged wherever it required making
them comparable with the current year figures.

32. Dues of small enterprises and micro enterprises:

As explained ta us and as per information and documents produced before
us, the company do not having information regarding status of Micro, Small
and Medium status of its creditors and hence we are not able to comment on
the dues to MSME enterprises and the periodicity and delay payments and to
that the company had violation of the MSME disclosure requirement.

33. The Company has elected to exercise the opinion permitted under Section
115BAA of the Income Tax Act, 1961 as introduced by the Taxation Laws
(Amendment) Ordinance, 2019 which gives a onetime irreversible option to
domestic companies for payment of corporate tax at reduced rates. Based
on that provision for Income Tax is recorded.

34. The company has neither declared any Dividend nor paid any Dividend
during the FY 2023-2024.

36. The Company does not have any relationship with struck off companies as on
the balance sheet date, and hence disclosure is not required for the
relationship with struck off companies.

37. The Company has not been declared willful defaulter by any bank or
financial institution or other lender or government or any government
authority.

38. The Company has complied with the requirement with respect to number of
layers as prescribed under section 2(87) of the Companies Act, 2013 read with
the Companies (Restriction on number of layers) Rules, 2017.

39. Utilization of borrowed funds and share premium

I The Company has not advanced or loaned or invested funds to any other
person(s) or entity(ies), including foreign entities (Intermediaries) with the
understanding that the Intermediary shall:

(a) 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

(b) Provide any guarantee, security or the like to or on behalf of the
ultimate beneficiaries

II 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:

(a) 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

(b) provide any guarantee, security or the like on behalf of the ultimate
beneficiaries

40. There is no income surrendered or disclosed as income during the year in tax
assessments under the Income Tax Act, 1961 (such as search or survey), that
has not been recorded in the books of account.

41. The Company has not traded or invested in crypto currency or virtual
currency during the year.

42. The Company does not have any charges or satisfaction of charges which is
yet to be registered with Registrar of Companies beyond the statutory period.

43. The Company does not have any benami property held in its name. No
proceedings have been initiated on or are pending against the Company for
holding benami property under the Benami Transactions (Prohibition) Act,
1988 (45 of 1988) and Rules made thereunder.

44. The Company has not prepared any scheme of Arrangements in terms of
section 230 to 237 of the Companies Act, 2013.

47. DTA on carried forwarded loss has been not created in books of account as
we get explanation from the management regarding virtual uncertainty
regarding future taxable profit, so on prudence ground, it ignore creation of
DTA while DTA-DTL already created on depreciation provision. In view of the
management, there was no certainty to set off of the loss or depreciation
arising due to timing difference and hence no provision for Deferred Tax
Assets has been provided for the year under audit

49. The company is in process of revamping its business and run business
smoothly. However, there is slight increase in turnover i.e. in current financial
year the operational income is Rs. 43.34 Lakh as against Rs. 18.28 Lakh in the
immediate preceding financial year. However, considering the
managements’ opinion that situation revive in normal and business cycle
recovered gradually, we have considered the business as going concern.

50. Considering the accumulated brought forwarded losses and non-accepting
various government dues during the year 2023-2024 is operationally looks like
non going concern, but it is exceptional situation and hence management
has assessed business as going concern.

51. Preliminary Expenses not written off during the year under Audit.

52. The company has given Loans & Advances to certain parties since long,
advances for purchase of Fixed Assets to various parties since long and
outstanding Debtors and there was no transaction and the same accounts
are stagnant. However, in view of the management, the same are
recoverable / payable and hence not written off.

53. As informed to us and as per information and explanation given to us, the
company is selling “Books” on which GST has not been charged as well as the
company’s GST Registration Number is cancelled and had neither filed GST
Returns regular basis nor Paid GST on time and to that extent the company is
not in default under GST Rules and Regulation.

54. The Company is primarily engaged in “Educational & Coaching Services”. The
requirement of AS-17 - “Segment Reporting”, is not applicable to the
Company as it is engaged in single business segment.

55. Long term loans and advances has been processed for Confirmation. We
received random confirmations but management still under process to
compile / received 100% confirmation from all the parties. As it is confirmed
by the Management, we have taken as correct subject to confirmation.

56. Financial Risk management objectives: The financial risks mainly include
market risk (interest rate risk), credit risk and liquidity risk.

Signature of Note “ 1” to “56” forming part of Balance Sheet and Profit & Loss A/c.

AS PER OUR REPORT OF EVEN DATE ATTACHED HEREWITH.

FOR DEVADIYA & ASSOCIATES For and on behalf of

Chartered Accountants ARIHANT INSTITUTE LIMITED

FRNo: 123045W

SD SD SD SD

Sandip Vinodkumar

CA Sanjay Devadiya Kamdar Anjali Sandi p Kamdar Abhishek Lohia

Whole Time Director & Company

Partner CEO Director and CFO Secretary

Mem. No. : 112495 DIN NO:00043214 DIN NO: 00040963

UDIN: 24112495BKGQMU9777

Place : Ahmedabad Place: Ahmedabad

Date : 05.06.2024 Date : 05.06.2024

---

Mar 31, 2023

q) Provision, Contingent Liabilities and Contingent Assets

Provision is recognized for when

i) The company has at present, legal or contractual obligation as a result of Past events,

ii) It is probable that an outflow of resources embodying economic outgo or loss will be occurred, and;

iii) The amount involved can be measured reliably.

Contingent liabilities being a possible obligation as a result of Past events, the existence of which will be confirmed only by the occurrence or nonoccurrence of one ior more future events not wholly in control of the company are not recognized in the accounts. The nature of such liabilities and an estimate of its financial effect are disclosed in notes to the Financial Statements.

Contingent assets are neither recognized nor disclosed in the financial statements.

s) Accounting of claims

i) Claims received are accounted at the time of lodgment depending on the certainty of receipt and claims payable are accounted at the time of acceptance.

ii) Claims raised by Government authorities regarding taxes and duties, which are disputed by the company, are accounted based on legality of each claim. Adjustments, if any, are made in the year in which disputes are finally settled.

t) Corporate Social Responsibility:

In case of CSR activities undertaken by the Company, if any expenditure of revenue nature is incurred or an irrevocable contribution is made to any agency to be spent by the latter on any of the activities mentioned in Schedule VII to the Companies Act, 2013, the same is charged as an expense to its Statement of Profit and Loss.

25. Wherever, evidences / supporting for expenditure incurred by the Company are not available, we have relied upon the Vouchers / Statements duly certified by the Directors.

26. It is not possible for us to verify whether the payment and receipt in excess of Rs. 200000/- have been made otherwise then by crossed cheque or bank draft as the necessary evidence is not in possession of the assessee. Payment in excess of aforesaid if any, make to Government Authority or bank is not reported.

27. It is not possible for us to verify whether the expenses paid in excess of Rs 10000/- have been made otherwise then by crossed cheque or bank draft as the necessary evidence is not in possession of the assessee. Payment in excess of aforesaid if any, made to Government Authority or bank is not reported.

28. It is not possible for us to verify whether the amount paid for assets in excess of Rs 10000/- have been made otherwise then by crossed cheque or bank draft as the necessary evidence is not in possession of the assessee. Payment in excess of aforesaid if any, made to Government Authority or bank is not reported.

29. In the opinion of the management, current assets, loans & advances are approximately of the values stated, if realized in the ordinary course of business. Balances of balance sheets like debtors, creditors, loans, advances etc. including squired up accounts are subject to confirmation and hence subject to adjustment, if any arising out of reconciliation. Inventories are taken, as valued and certified by the assessee or management.

30. The Company has not received information from the suppliers regarding their status under the Micro, Small & Medium Enterprises Development Act, 2006. Hence, disclosure, if any, relating to amount unpaid as at the balance sheet date together with interest paid or payable as per the requirement under the said Act have not been made, compiled & disclosed.

31. Previous year figures are regrouped - rearranged wherever it required making them comparable with the current year figures.

32. Contingent Liabilities and Commitments:

As explained to us and as per information and documents produced before us, the company has not paid the Annual Listing Fees as well as fines of Rs. 1466740/- towards SOP Fines. The company has not accepted the same and hence not booked in the books of account. However, the same is treated as Contingent Liability.

33. The Company has elected to exercise the opinion permitted under Section 115BAA of the Income Tax Act, 1961 as introduced by the Taxation Laws (Amendment) Ordinance, 2019 which gives a onetime irreversible option to domestic companies for payment of corporate tax at reduced rates. Based on that provision for Income Tax is recorded.

34. The company has neither declared any Dividend nor paid any Dividend during the FY 2022-2023.

36. The Company does not have any relationship with struck off companies as on the balance sheet date, and hence disclosure is not required for the relationship with struck off companies.

37. The Company has not been declared willful defaulter by any bank or financial institution or other lender or government or any government authority.

38. The Company has complied with the requirement with respect to number of layers as prescribed under section 2(87) of the Companies Act, 2013 read with the Companies (Restriction on number of layers) Rules, 2017.

39. Utilization of borrowed funds and share premium

I The Company has not advanced or loaned or invested funds to any other person(s) or entity(ies), including foreign entities (Intermediaries) with the understanding that the Intermediary shall:

(a) 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

(b) Provide any guarantee, security or the like to or on behalf of the ultimate beneficiaries

II 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:

(a) 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

(b) provide any guarantee, security or the like on behalf of the ultimate beneficiaries

40. There is no income surrendered or disclosed as income during the year in tax assessments under the Income Tax Act, 1961 (such as search or survey), that has not been recorded in the books of account.

41. The Company has not traded or invested in crypto currency or virtual currency during the year.

42. The Company does not have any charges or satisfaction of charges which is yet to be registered with Registrar of Companies beyond the statutory period.

43. The Company does not have any benami property held in its name. No proceedings have been initiated on or are pending against the Company for holding benami property under the Benami Transactions (Prohibition) Act, 1988 (45 of 1988) and Rules made thereunder.

44. The Company has not prepared any scheme of Arrangements in terms of section 230 to 237 of the Companies Act, 2013.

47. DTA on carried forwarded loss has been not created in books of account as we get explanation from the management regarding virtual uncertainty regarding future taxable profit, so on prudence ground, it ignore creation of DTA while DTA-DTL already created on depreciation provision. In view of the management, there was no certainty to set off of the loss or depreciation arising due to timing difference and hence no provision for Deferred Tax Assets has been provided for the year under audit

49. The company is in process of revamping its business and run business smoothly. However, there is slight increase in turnover i.e. in current financial year the operational income is Rs. 18.28 Lakh as against Rs. 1.46 Lakh in the immediate preceding financial year. However, considering the managements’ opinion that situation revive in normal and business cycle recovered gradually, we have considered the business as going concern.

50. Year 2022-2023 is operationally looks like non going concern, but it is exceptional situation and hence management has assessed business as going concern.

51. Preliminary Expenses not written off during the year under Audit.

52. The company has given Loans & Advances to certain parties since long, advances for purchase of Fixed Assets to various parties since long and outstanding Debtors and there was no transaction and the same accounts are stagnant. However, in view of the management, the same are recoverable / payable and hence not written off.

53. Long term loans and advances has been processed for Confirmation. We received random confirmations but management still under process to compile / received 100% confirmation from all the parties. As it is confirmed by the Management, we have taken as correct subject to confirmation.

54. Financial Risk management objectives: The financial risks mainly include market risk (interest rate risk), credit risk and liquidity risk.

Signature of Note “1 ” to “54” forming part of Balance Sheet and Profit & Loss A/c.

AS PER OUR REPORT OF EVEN DATE ATTACHED HEREWITH.

For DEVADIYA & ASSOCIATES, For and on behalf of board of directors

CHARTERED ACCOUNTANTS OF ARIHANT INSTITUTE LIMITED

Sd sd

CA Sanjay Devadiya Sandip V. Kamdar

PARTNER Whole Time Director

Chairman

M No. 112495 & CEO& Non-Executive Director

F R No. 123045W DIN:00043214 :

UDIN: 2311249SBGYWCQ4628

PLACE: AHMEDABAD PLACE: AHMEDABAD

DATE: 30/05/2023 DATE: 30/05/2023