Notes to the Standalone Financial Statements as at and for the year ended March 31, 2024
39 Other Statutory Information (i) The Company has not advanced or loaned or invested funds (either from borrowed funds or share premium or any other sources or kind of funds) to or in any other person(s) or entity(ies), including foreign entities (“Intermediaries”), with the understanding, whether recorded in writing or otherwise, 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 funds from any person(s) or entity(ies), including foreign entities (“Funding Parties”), 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 Parties (“Ultimate Beneficiaries”); or (b) provide any guarantee, security or the like on behalf of the Ultimate Beneficiaries. (iii) The Company has not surrendered or disclosed any such transaction which is not recorded in the books of accounts as income during the year in the tax assessments under the Income Tax Act, 1961 (such as, search or survey or any other relevant provisions of the Income Tax Act, 1961). 40 Commitments and Contingent Liabilities (in Rupees Million) As at March 31, 2024 As at March 31, 2023 (a) Commitments Capital commitments 10 16 (b) Contingent liabilities Claims against the Company not acknowledged as debt: For income tax matters under appeal* 76 98 * The Company believes that these claims are not tenable and hence no provision has been made in this regard. The amount of Contingent liabilities is disclosed based on the best possible estimate which in turn is based on the likelihood of possible outcomes of proceedings by the tax authorities and the possible cash outflow will be known on settlement of the proceedings by the tax authorities.
42 Subsequent events after March 31, 2024 : Subsequent to year end, Senseforth AI Research Private Limited vide board resolution dated April 01, 2024 has proposed to transfer the assets, liabilities, regulatory approvals, permits, contracts, and employees of its 'Development Services' business segment to Fractal Analytics Limited, as a going concern by way of slump sale. 43 These standalone financial statements were authorised for issue by the Company's Board of directors on June 17, 2024.
As per our report of even date attached. For B S R & Co. LLP
For and on behalf of the Board of Directors of
Chartered Accountants Fractal Analytics Limited Firm’s Registration Number: 101248W/W-100022 CIN: U72400MH2000PLC125369
Rajesh Mehra
Srikanth Velamakanni Sasha Gulu Mirchandani Somya Agarwal
Partner
Whole-Time Director
Director
Company Secretary Membership number: A17336
Membership Number: 103145
DIN: 01722758
DIN: 01179921
Mumbai
London
London
London
Date: June 17, 2024
Date: June 17, 2024 Date: June 17, 2024 Date: June 17, 2024
41 Corporate Social Responsibility
(in Rupees Million) As at March 31, 2023
As at March 31, 2024
Corporate social responsibility expenditure Amount required to be spent as per Section 135 of the Companies Act, 2013
5
6
Amount spent during the year on: (i) Construction / acquisition of an asset
-
-
(ii) Purposes other than (i) above
7
6
(iii) nature of CSR activities i)
Contribution to Charitable Trust
7
6
The amount during the year has been spent towards education of underprivileged children and teachers, self-reliant rural society assured of food security, gender equity, low child mortality, etc.
184
185
Fractal Analytics Limited | Annual Report 2023-24
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