అకౌంట్స్ గమనికలుRap Corp Ltd.

Mar 31, 2025

Fair value hierarchy:

The fair value hierarchy is based on inputs to valuation techniques that are used to measure fair value that are either observable or unobservable and consists of the following three levels:

Level 1 — Inputs are quoted prices (unadjusted) in active markets for identical assets or liabilities.

Level 2— Inputs are other than quoted prices included within Level1 that are observable for the asset or liability, either directly (i.e. as prices) or indirectly (i.e. derived from prices).

Level 3—Inputs are not based on observable market data (unobservable inputs). Fair values are determined in whole or in part using a valuation model based on assumptions that are neither supported by prices from observable current market transactions in the same instrument nor are they based on available market data.

33. Financial risk management

The Company is exposed to various risks such as credit risk, liquidity risk and market risk.

i. Credit risk

Credit risk arises due to customer’s failure to repay the debts according to the contractual terms and conditions. It consists of two elements viz. risk of default in payment and decrease in the creditworthiness of the customers. Credit risk is controlled by analyzing credit limits and creditworthiness of customers on a continuous basis to whom the credit has been granted after obtaining necessary approvals for credit.

Since the Company is not engaged in Exports, it is not exposed to risk associated with other geographies.

ii. Market risk

The risk that the fair value of the financial instrument may fluctuate because of change in market conditions. Such changes in the values of financial instruments may result from changes in the interest rates, credit, liquidity and other market changes.

Since most of the liquid funds are parked as deposits with maturity of less than three months, the Company is exposed to the interest risk.

iii. Liquidity risk

Maintaining enough balance of cash and marketable securities is essential to meet the obligation when due. Liquidity risk refers to the risk that the Company cannot meet its financial obligations. The Company consistently generated sufficient cash flows from operations to meet its financial obligations as and when they fall due. However, the Company is exposed to liquidity risk as its current financial liabilities are significantly higher than the current financial assets (excluding current tax assets). The details are as follows:

33. Foreign exchange earnings and outgo:

The earnings and outgo in foreign currency is Rs. 11.52 lakhs for March 31,2025 (March 31,2024 - Rs. Nil).

34. Contingent liability:

The Contingent liability as at March 31,2025 is Rs. Nil (March 31,2024 - Rs. Nil).

35. Details of dues to micro and small enterprises as defined under MSMED Act, 2006

There are no defaults and overdue amounts payable to suppliers, who have intimated about their status as Micro and Small Enterprises as per the provisions of Micro, Small and Medium Enterprises Development Act, 2006 (MSMED Act, 2006).

36. Capital commitments:

The capital commitment as at March 31,2025 is Rs. Nil (March 31,2024 - Rs. Nil).

38. Previous periods / year’s figures have been regrouped where necessary to conform to current period’s classification.

39. The company has revalued its Agra property on dated 09.04.2024 as per the valuation report provided by the Registered Valuer and the revalued amount comes to Rs.58.75 lakhs for Land & CWIP. The same property has been reclassified previously held under Property, Plant and Equipment (PPE), into stock-in-trade. The total revalued amount shown as stock in trade and profit shown in June quarter’s Limited Review Report. However Disclosure pursuant to Ind AS -8 accounting policies change in accounting estimate and errors ( specified under section 133 of companies act 2013, read with Rule 7 of Companies ( accounts ) Rule 2015) the company has decided to book the Agra Land on its cost value and Agra CWIP on its re-impairment value and reinstate all the three quarter LRR.

40. Corporate Social Responsibility

The Provisions relating to Corporate Social Responsibility are not applicable to the Company.

41. There are no cases of any undisclosed income in the financial statements.

42. 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(s) or entity(ies), including foreign entities (Intermediaries) with the understanding (whether recorded in writing or otherwise) that the Intermediary 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.

43. 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.

44. There are no delays in registrations of any charges or satisfactions with Registrar of Companies.

45. The company has not traded or invested in crypto currency or virtual currency during the current year and previous year.

46. The company has not entered any transactions in companies that were struck off under the relevant Sections of the Companies Act 2013.

47. The Company has obtained overdraft facility for working capital limit from the bank and has utilized the same for the purpose for which it is raised, during the year.

48. The company has not given any loans and advance to Promoters, Directors, KMPs or Related parties.

49. No proceedings have been initiated or pending against the Company for holding any benami property under the Benami Transactions ( Act, 1988 45 of 1988 the Rules made thereunder.

50. Company was not declared wilful defaulter by any bank or financial institution or other lender.

51. The company has not been sanctioned working capital limit in the form of term loans and overdraft facilities.

52. The company has not entered into any scheme of arrangement in terms of sections 230 to 237 of the Companies Act, 2013.

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Mar 31, 2024

Fair value hierarchy:

The fair value hierarchy is based on inputs to valuation techniques that are used to measure fair value that are either observable or unobservable and consists of the following three levels:

Level 1 — Inputs are quoted prices (unadjusted) in active markets for identical assets or liabilities.

Level 2— Inputs are other than quoted prices included within Level1 that are observable for the asset or liability, either directly (i.e. as prices) or indirectly (i.e. derived from prices).

Level 3—Inputs are not based on observable market data (unobservable inputs). Fair values are determined in whole or in part using a valuation model based on assumptions that are neither supported by prices from observable current market transactions in the same instrument nor are they based on available market data.

30. Financial risk management

The Company is exposed to various risks such as credit risk, liquidity risk and market risk.

i. Credit risk

Credit risk arises due to customer’s failure to repay the debts according to the contractual terms and conditions. It consists of two elements viz. risk of default in payment and decrease in the creditworthiness of the customers. Credit risk is controlled by analyzing credit limits and creditworthiness of customers on a continuous basis to whom the credit has been granted after obtaining necessary approvals for credit.

Since the Company is not engaged in Exports, it is not exposed to risk associated with other geographies.

ii. Market risk

The risk that the fair value of the financial instrument may fluctuate because of change in market conditions. Such changes in the values of financial instruments may result from changes in the interest rates, credit, liquidity and other market changes.

Since most of the liquid funds are parked as deposits with maturity of less than three months, the Company is exposed to the interest risk.

iii. Liquidity risk

Maintaining enough balance of cash and marketable securities is essential to meet the obligation when due. Liquidity risk refers to the risk that the Company cannot meet its financial obligations. The Company consistently generated sufficient cash flows from operations to meet its financial obligations as and when they fall due. However, the Company is exposed to liquidity risk as its current financial liabilities are significantly higher than the current financial assets (excluding current tax assets). The details are as follows:

31. Foreign exchange earnings and outgo:

The earnings and outgo in foreign currency is Rs. Nil for March 31,2024 (March 31,2023 - Rs. Nil).

32. Contingent liability:

The Contingent liability as at March 31,2024 is Rs. Nil (March 31,2023 - Rs. Nil).

33. Details of dues to micro and small enterprises as defined under MSMED Act, 2006

There are no defaults and overdue amounts payable to suppliers, who have intimated about their status as Micro and Small Enterprises as per the provisions of Micro, Small and Medium Enterprises Development Act, 2006 (MSMED Act, 2006).

34. Capital commitments:

The capital commitment as at March 31,2024 is Rs. Nil (March 31,2023 - Rs. Nil).

36. Previous periods / year’s figures have been regrouped where necessary to conform to current period’s classification.

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Mar 31, 2015

NOTE 1:

Advance received includes an amount of Rs.11,66,00,000/- from a customer against agreement to sale of commercial space in mall under construction at Agra. The revenue will be accounted as per the prescribed accounting standard 9, upon the certainty of completion of building and handover of the space to the customers.

NOTE 2:

The Company has kept all its projects currently on hold due to adverse market conditions in real estate market, hence the amount spent has been shown under land and capital work in progress. The amount required to complete the projects is not estimated.

NOTE 3: Balances of Debtors, Creditors, Loans & Advances (Debit/Credit) are subject to confirmation.

NOTE 4: Segment Reporting

The Company is operating in single business segment i.e. Development of Multiplex Theatres and Malls and also in single geographical segment i.e. in India. Hence, reporting in accordance with the Accounting Standard (AS) 17 of is not applicable.

Related Parties disclosures:

a) List of related parties where control exists and related parties with whom transactions have taken place and relationships:

S.No. Name of the Related Party Relationship

1. Shri Rupinder Singh Arora Key Managerial Personnel

2. Shri Chandir G. Gidwani Key Managerial Personnel

3. Ms.Ritika Arora Key Managerial Personnel

4. Shri. Navdeep Singh Khera (w.e.f - 11-12-14) Key Managerial Personnel

5. Shri Hrushikesh Deodhar (till - 14-11-14) Key Managerial Personnel

6. Shri Dilawar Singh Arora Relative of Key Managerial Personnel

7. Ms.Priyanka Arora Relative of Key Managerial Personnel

Note: Figures in bracket represents previous year's amount.

Disclosure in respect of Related Party Transactions during the Year :

1. Loans and Advances Unsecured Loan Received Rs.88,25,300/- and repaid to Shri Rupinder Singh Arora Rs.77,45,300/- Balance loan as on 31.03.2015 is Rs. 10,80,000/- (Previous Year Rs. NIL)

2. Remuneration paid to Shri Rupinder Singh Arora Rs.6,00,000/-.(Previous Year Rs.6,06,000/-)

3. Director Sitting fees paid to Shri Chandir G. Gidwani, Shri Navdeep Singh Khera, Shri H V Deodhar & Ms.Ritika Arora amounting to Rs.30,000/- (Previous Year Rs.31,250/-)

4. Rent paid to Shri Dilawar Singh Arora amounting to Rs.7,80,000 (Previous Year Paid Rs.7,80,000/-)

5. Salary Paid to Ms.Priyanka Arora amounting to Rs.3,90,000/- (Previous Year Rs.2,34,000/-)

NOTE 5:

The company has not received any intimation from vendors covered under the micro, Small & medium enterprises Development Act, 2006 and as such information in respect of those vendors is not provided.

NOTE 6:

Previous year's figures have been regrouped/rearranged wherever necessary.

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Mar 31, 2014

NOTE 1: Balances of Debtors, Creditors, Loans & Advances (Debit/Credit) are subject to confirmation. NOTE 22: Segment Reporting

The Company is operating in single business segment i.e. Development of Multiplex Theatres and Malls and also in single geographical segment i.e. in India. Hence, reporting in accordance with the Accounting Standard (AS) 17 of is not applicable.

NOTE 2:

Advance received includes an amount of Rs.11,66,00,000/- from a customer against agreement to sale of commercial space in mall under construction at Agra. The revenue will be accounted on the certainty of completion of building and handover of the space to the customers.

NOTE 3:

The Company has kept all its projects currently on hold due to adverse market conditions hence the amount spent have been shown under land and capital work in progress. The amount required to complete the projects is not estimated.

Disclosure in respect of Related Party Transactions during the Year :

1. a) Unsecured Loan Received Rs.42,50,426/- and repaid to Shri Rupinder Singh Arora Rs.42,50,426/-.

Balance loan as on 31.03.2014 is Rs. NIL (Previous Year Rs. NIL)

b) Unsecured Loan received Rs. 47,95,000/- and repaid to Ms.Priyanka Arora Rs. 47,95,000/-. Balance loan as on 31.03.2014 is Rs. NIL (Previous Year Rs. NIL)

2. Remuneration paid to Shri Rupinder Singh Arora Rs.6,06,000/-.(Previous Year Rs.6,20,000/-)

3. Director Sitting fees paid to Shri Chandir G Gidwani, Shri Navin Marwah, Shri H V Deodhar & Ms.Ritika Arora amounting to Rs.31,750/- (Previous Year Rs.75,000/-)

4. Rent paid to Shri Dilawar Singh Arora amounting to Rs.7,80,000 (Previous Year Paid to Ms. Daljeet Kaur Arora Rs.7,80,000/-)

5. Interest received from M/s.Centrum Direct Limited amounting to Rs.48,991/- (Previous Year Rs.53,507/-)

6. Salary Paid to Ms.Priyanka Arora amounting to Rs.2,34,000/- (Previous Year Rs.2,34,000/-)

NOTE 4:

Amount due to small scale industrial undertaking is Rs.NIL (Previous year Rs.NIL).

NOTE 5:

The company has not received any intimation from vendors covered under the micro, Small & medium enterprises Development Act, 2006 and as such information in respect of those vendors is not provided.

NOTE 6:

Previous year''s figures have been regrouped/rearranged wherever necessary.

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Mar 31, 2013

NOTE 1: Balances of Debtors, Creditors, Loans & Advances (Debit/Credit) are subject to confirmation.

NOTE 2: Segment Reporting

The Company is operating in single business segment i.e. Development of Multiplex Theatres and Malls and also in single geographical segment i.e. in India. Hence, reporting in accordance with the Accounting Standard (AS) 17 of is not applicable.

NOTE 3:

Advance received includes an amount of Rs.11,66,00,000/- from a customer against agreement to sale of commercial space in mall under construction at Agra. The revenue will be accounted on the certainty of completion of building and handover of the space to the customers.

NOTE 4:

The Company has kept all its projects currently on hold due to adverse market conditions hence the amount spent have been shown under land and capital work in progress. The amount required to complete the projects is not estimated.

Disclosure In respect of Related Party Transactions during the Year:

1. a) Opening Balance of loans and advances Rs.6,54,099/- (Previous Years Rs.6,54,099/-) Given during the year advance for purchase of property to Ms. Deepi Arora Rs.4,18,75,000/-. The transaction was later cancelled and Money refunded.

b) Unsecured Loan Received Rs. 1,53,36,896/- and repaid to Shri Rupinder Singh Arora Rs.3,06,36,896/- . Balance loan as on 31.03.2013 is Rs. NIL (Previous Year Rs. 1,53,00,000/-)

2. Remuneration paid to Shri Rupinder Singh Arora Rs.6,00,000/-.(Previous Year Rs.6,00,000/-)

3. Director Sitting fees paid to Shri Chandir G Gidwani, Shri Navin Marwah & Ms.Ritika Arora amounting to Rs.75,000/- (Previous Year Rs. 1,20,000/-)

4. Rent paid to Smt.Daljeet Kaur Arora amounting to Rs.7,80,000 (Previous Year Rs.7,80,000)

5. Interest received from M/s.Centrum Direct Limited amounting to Rs.53,507/- (Previous Year Rs.53,789/-)

6. Salary Paid to Ms.Priyanka Arora amounting to Rs..2,34,000/- (Previous Year Rs.2,34,000/-)

NOTE 5:

Amount due to small scale industrial undertaking is Rs.NIL (Previous year Rs.NIL).

NOTE 6:

The company has not received any intimation from vendors covered under the micro, Small & medium enterprises Development Act, 2006 and as such information in respect of those vendors is not provided.

NOTE 7:

Previous year''s figures have been regrouped/rearranged wherever necessary.

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Mar 31, 2012

NOTE 1; Balances of Debtors, Creditors, Loans & Advances (Debit/Credit) are subject to confirmation.

NOTE 2: Segment Reporting

The Company is operating in single business segment i.e. Development of Multiplex Theatres and Malls and also in single geographical segment i.e. in India. Hence, reporting in accordance with the Accounting Standard (AS) 17 of is not applicable.

NOTE 3:

Advance received includes an amount of Rs. 11,66,00,000/- from a customer against agreement to sale of commercial space in mall under construction at Agra. The revenue will be accounted on the certainty of completion of building and handover of the space to the customers.

NOTE 4:

The Company has kept all its projects currently on hold due to adverse market conditions hence the amount spent have been shown under land and capital Work in progress. The amount required to complete the projects is not estimated.

NOTE 5:

The company has let out space for Food Court to Reliance Media Work Limited on Profit Sharing Basis. During the year the operations resulted into a loss of Rs. 17,454/- (Previous year Rs. 2,74,000/-).

NOTE 6:

Related Parties disclosures:

a) List of related parties where control exists and related parties with whom transactions have taken place and relationships:

Sl. Name of the Related Party Relationship No.

1. Shri Rupinder Singh Arora Key Managerial Personnel

2. Shri Chandir G Gidwani Key Managerial Personnel

3. Shri Navin Marwah Key Managerial Personnel

4. Ms. Ritika Arora Key Managerial Personnel

5. M/s. Centrum Direct Ltd. Associate Company

6. M/s. Rap Projects Pvt. Ltd. Associate Company

7. Shri Dilawar Singh Arora Relative of Key Managerial Personnel

8. Smt. Daljeet Kaur Arora Relative of Key Managerial Personnel

9. Ms. Priyanka Arora Relative of Key Managerial Personnel

Disclosure in respect of Related Party Transactions during the Year:

1. a) Opening Balance of loans Rs. 6,54,099/- (Previous Years Rs. 2,33,25,000/-) Given during the year to Rap Projects Pvt. Ltd. Rs. 1,55,79,780/-

b) Unsecured Loan Received Rs. 1,59,70,000/- and repaid to Shri Rupinder Singh Arora Rs. 6,70,000/-. Balance loan as on 31.03.2012 is Rs. 1,53,00,000/-. (Previous Year Rs. NIL)

2. Remuneration paid to Shri Rupinder Singh Arora Rs. 6,00,000/- (Previous Year Rs. 6,00,000/-)

3. Director Sitting fees paid to Shri Chandir G Gidwani, Shri Navin Marwah & Ms. Ritika Arora amounting to Rs. 1,20,000/- (Previous Year Rs. 1,45,000/-)

4. Rent paid to Smt. Daljeet Kaur Arora amounting to Rs. 7,80,000 (Previous Year Rs. 7,80,000)

5. Interest received from M/s. Centrum Direct Limited amounting to Rs. 48,385/- (Previous Year Rs. 8,65,723/-)

6. Salary Paid to Ms. Priyanka Arora amounting to Rs. 2,34,000/- (Previous Year Rs. 2,34,000/-)

NOTE 7:

Amount due to small scale industrial undertaking is Rs. NIL (Previous year Rs. NIL).

NOTE 8:

The company has not received any intimation from vendors covered under the micro, Small & medium enterprises Development Act, 2006 and as such information in respect of those vendors is not provided.

NOTE 9:

Previous year's figures have been regrouped/rearranged wherever necessary.

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Mar 31, 2010

1. Balances of Debtors, Creditors, Loans & Advances (Debit/Credit) are subject to confirmation.

2. Segment Accounting

(i) Primary Segment

The Company is operating in single segment i.e. Development of Multiplex Theatres and Malls. Hence, reporting as defined in accordance with the Accounting Standard (AS) 17 of ICAI is not applicable.

3. Related Parties disclosure in accordance with Accounting Standard 18 issued by Institute of Chartered Accountants of India:

(a) Related parties and nature of relationship:

Directors ot the Company 1. Rupinder Singh Arora 2. Chandir G. Gidwani

Associate Companies, Firms, Relative of Director 1. Centrum Direct Ltd.

2. Business Match Service (I) Pvt. Ltd.

3. Daljeet Kaur Arora

4. Rap Projects Pvt. Ltd.

(b) Transactions that have taken place during the period current financial year with related parties by the Company:

S. Name of the Party Transactions during the year

No.

1. Rupinder Singh Arora Salary Paid Rs. 6,00,000/- for the Year 2009-2010 Maximum amount received at one time Rs.96,00,000/- Interest Free Loans time to time to meet the needs of the Company, Balance as on 31.03.2010 NIL

2. Daljeet Kaur Arora Office Rent paid - Rs. 7,80,000/-

3. Rap Projects Pvt Ltd. Advance paid Rs. 2,81,880/- Balance as on

31.03.2010 Rs. 2,03,073/-

4. Business Match Rs. 2,60,00,000/- Security Deposit given for office Services (I) Pvt. Ltd. premises

5. Centrum Direct Ltd. Rs. 3,41,89,157/- ICD given @ 8.25% p.m. Interest received duing the year Rs. 22,86,279/- (P.Y. Rs.45,24,300/-) Balance as on 31.03.2010 is Rs. 2,33,25,000/-

(c) Details of Remuneration to Directors is disclosed in note No. 4.

4. Under the Micro, Small and Medium Enterprises Development Act, 2006, which is in force from 2nd October, 2006, certain disclosures are required to be made relating to Micro, Small and Medium Enterprises. The Company is in the process of compiling relevant information from its vendors about their coverage under the said act.

5. Estimated amount of contracts remaining to be executed on capital account Rs.5.10 Crores (Previous year Rs.7.00 Crores).

6. Direct operational expenses Rs.25.33 lacs (PY Rs.Nil) comprise of loss incurred by the Company in terms of the profit sharing agreement entered into for running of food court area.

7. Previous years figures have been regrouped/rearranged wherever necessary.