JCNET COMMUNICATIONS PRIVATE LIMITED

CIN:U72900DL2016PTC302324
BALANCE SHEET AS AT 31ST MARCH 2024
Notes March 31, 2024 March 31, 2023
Rs. Rs.
Equity and liabilities
Shareholders’ funds
Share capital 3 10,000 10,000
Reserves and surplus 4 16,676,641 12,889,068
16,686,641 12,899,068
Non-current liabilities
Deferred tax liability (net) 5 17,906 17,906
17,906 17,906
Current liabilities -
Trade payables
(a) Total outstanding dues of micro enterprises and small enterprises 6 366,155 415,398
(b) Total outstanding dues of creditors other than micro enterprises - -
and small enterprises -
Other current liabilities 7 2,169,244 2,063,541
Short-term provisions 8 - -
2,535,399 2,478,939

TOTAL 19,239,945 15,395,913

Assets
Non-Current Assets

Property, Plant & Equipments 9 309,960 309,714

309,960 309,714

Current assets
Trade Receivables 10 4,496,436 4,496,436
Cash and cash equivalents 11 14,327,854 10,166,105
Short-term loans and advances 12 105,695 423,658
Other current assets
18,929,986 15,086,199

TOTAL 19,239,945 15,395,913

Corporate information & Significant accounting policies 1 & 2

The notes referred to above are an integral part of the financial statements

"As per our Report of even date attached"

For Malik Girish Anand & Co. For & on behalf of the Board of Directors
CHARTERED ACCOUNTANTS.
Firm No.011613N

Subhash Saini Shatrughan Kumar Roy

Director Director
Rashmeet Kaur DIN : 07373814 DIN : 07373811
Partner
Membership No.: 517062
Place: New Delhi
Date: 26.09.2024
UDIN:
 JCNET COMMUNICATIONS PRIVATE LIMITED
CIN: U72900DL2016PTC302324
Profit and loss statement for the year ended on 31.03.2024
(Amount in Rs.)
Particulars Refer Note No. 31.03.2024 31.03.2023

I. Revenue from Operations 13 16,354,509 13,969,892

II. Other income-Int on IT Refund 14 20,190 12,663
Total Revenue (I + II) 16,374,699 13,982,555

III. Expenses:
Employee benefits expense 15 5,921,052 4,638,329
Other expenses 16 5,034,368 4,427,838
Finance Costs 17 4,100 1,429
Depreciation and amortization expense 9 127,606 131,073
Total 11,087,127 9,198,669

IV Profit/(Loss) before exceptional and extra ordinary items and tax 5,287,573 4,783,886
Prior Period Items - -

V Profit before tax 5,287,573 4,783,886

VI Tax Expense:
Current tax 1,500,000 1,250,000
Deferred tax expense/(income) - -

VII Profit/(Loss) for the period 3,787,573 3,533,886

Earnings per equity share:
Basic 18 378.76 353.39
Diluted 378.76 353.39

Corporate information & Significant accounting policies 1 & 2

The notes referred above are an integral part of the financial statements

"As per our Report of even date attached" For and on behalf of the board of Directors

For Malik Girish Anand & Co.

CHARTERED ACCOUNTANTS. Subhash Saini Shatrughan Kumar Roy
Firm No.011613N Director Director
DIN : 07373814 DIN : 07373811

Rashmeet Kaur
Partner
Membership No.: 517062
Place: New Delhi
Date: 26.09.2024
UDIN:
 JCNET COMMUNICATIONS PRIVATE LIMITED

1 Corporate information

JCNET Communications Private Limited is a private limited company domiciled in India and
incorporated under the provisions of the Companies Act, 2013. The Company is engaged the business
in the fields of information technology enabled services including software and media related services
and to carry on the business of consultants in all fields.

2 Significant accounting policies

a Basis of preparation of financial statements

The Financial statements of the Company have been prepared in accordance with generally accepted
accounting principles in India (Indian GAAP). These have been prepared to comply in all material
respects with the Accounting Standards as prescribed under section 133 of the Companies Act, 2013
(“Act”) read with Rule 7 of the Companies (Accounts) Rules, 2014. The financial statements have
been prepared under the historical cost convention, on accrual basis. The accounting policies have
been consistently applied by the Company and are consistent with those used in the previous year.

b. Use of estimates

The preparation of financial statements in conformity with generally accepted accounting principles
requires management to make estimates and assumptions that affect the reported amounts of assets
and liabilities and disclosure of contingent liabilities at the date of the financial statements and the
results of operations during the reporting period. Although these estimates are based upon
management’s best knowledge of current events and actions, actual results could differ from these
estimates.

c. Tangible fixed assets

Tangible fixed assets are stated at cost of acquisition or construction, or at revalued amounts, net of
impairment loss if any, less accumulated depreciation/amortisation. The Company capitalizes all costs
including costs of borrowed funds and duties & taxes attributable to acquisition or construction of
fixed assets, upto the date the assets are put to use. Assessment of indication of impairment of an asset
is made at the year end and impairment loss, if any, recognized.

d. Intangible fixed assets

Intangible assets acquired separately are measured on initial recognition at cost. Following initial
recognition, intangible assets are carried at cost less accumulated amortization and impairment losses
if any.
e. Borrowing costs

Borrowing cost includes interest, amortization of ancillary costs incurred in connection with the
arrangement of borrowings and exchange differences arising from foreign currency borrowings to the
extent they are regarded as an adjustment to the interest cost.

Borrowing costs directly attributable to the acquisition, construction or production of an asset that
necessarily takes a substantial period of time to get ready for its intended use or sale are capitalized as
part of the cost of the respective asset. All other borrowing costs are expensed in the period they
occur.

f. Depreciation

Depreciation is provided at Straight Line basis on tangible fixed assets from the date of
installation/acquisition on a pro-rata basis on the useful life of the assets as prescribed in schedule II
to the Companies Act, 2013.

Intangible fixed assets are amortized on straight line basis over their estimated useful economic life of
the assets.

g. Impairment

The carrying amounts of assets are reviewed at each balance sheet date to assess whether there is any
indication of impairment based on internal /external factors. An impairment loss is recognized
wherever the carrying amount of an asset exceeds its recoverable amount. The recoverable amount is
the greater of the asset’s net selling price and value in use. In assessing value in use, the Company
measures it on the basis of undiscounted cash flows of next five years projections estimated based on
current prices.

After impairment, depreciation is provided on the revised carrying amount of the asset over its
remaining useful life.

h. Revenue recognition

Revenue is recognized to the extent that it is probable that the economic benefits will flow to the
Company and the revenue can be reliably measured. Specifically,

i) Service income is recognized on accrual basis as and when services are provided and invoices
raised during the year. Service income excludes service tax.

ii) Revenue from sale of goods is recognized when the significant risks and rewards of
ownership of the goods have been passed to the buyer and excludes value added tax and
custom duty, as applicable. Sales are net of sales returns.

iii) Interest income is recognized on time proportion basis taking into account the amount
outstanding and the rate applicable.
i. Foreign currency transactions

Initial Recognition

Foreign currency transactions are recorded in the reporting currency, by applying to the foreign
currency amount the exchange rate between the reporting currency and the foreign currency at the
date of transaction.
Conversion

Foreign currency monetary items are reported using the closing rate. Non monetary items, which are
measured in terms of historical costs denominated in foreign currency, are reported using the
exchange rate at the date of the transaction. Non monetary items, which are measured at fair value or
other similar valuation denominated in a foreign currency, are translated using the exchange rate at
the date when such value was determined.

Exchange Differences

Exchange differences arising on the settlement of monetary items or on reporting company’s

monetary items at rates different from those at which they were initially recorded during the year, or
reported in previous financial statements, are recognized as income or as expenses in the year in
which they arise.

For exchange differences arising on certain long term foreign currency monetary items, refer to note
2c on tangible fixed assets forward exchange contracts to hedge foreign currency risks.

All other exchange differences are recognized as income or as expenses in the period in which they
arise.

j. Investments

Investments that are readily realizable and intended to be held for not more than a year are classified
as current investments or short term investments. All other investments are classified as long-term
investments. Current investments are valued at lower of cost and fair value determined on an
individual investment basis. Changes in the carrying amount of current investments are recognized in
the statement of profit and loss account. Long term investments are valued at cost. However,
provision for diminution in value is made to recognize a decline that is other than temporary in the
value of investments, wherever considered necessary. Cost comprises cost of acquisition and related
expenses such as brokerage and stamp duties.

Investment in land or buildings, which is not intended to be occupied substantially for use by, or in
the operations of the Company, is classified as investment property. Investment properties are stated
at cost, net of accumulated depreciation and impairment losses if any.

The cost of investment property comprises purchase price net of trade discounts and rebates,
borrowing costs and directly attributable costs upto the date the asset is put to use.
k. Income and deferred taxes

Tax expense comprises current and deferred tax. Current income tax is measured at the amount
expected to be paid to the tax authorities in accordance with the Indian Income- tax Act, 1961 and tax
laws prevailing in the respective tax jurisdictions where the Company operates.

Deferred income taxes reflects the impact of current year timing differences between taxable income
and accounting income for the year and reversal of timing differences of earlier years.

Deferred tax assets and liabilities are measured using the tax rates and tax laws that have been enacted
or substantially enacted at the balance sheet date.

Deferred tax liabilities are recognized for all taxable timing differences. Deferred tax assets are
recognized for deductible timing differences only to the extent that there is reasonable certainty that
sufficient future taxable income will be available against which such deferred tax assets can be
realized. Deferred tax asset on unabsorbed depreciation and carry forward losses is recognized only to
the extent that there is virtual certainty supported by convincing evidence that they can be realized
against future taxable profits

At each balance sheet date, the Company reassesses unrecognized deferred tax assets. It recognizes
unrecognized deferred tax assets to the extent that it has become reasonably certain or virtually
certain, as the case may be, that sufficient future taxable income will be available against which such
deferred tax assets can be realized.

Minimum Alternate Tax (MAT) paid in a year is charged to the statement of profit and loss as current
tax. The Company recognizes MAT credit available as an asset only to the extent that there is
convincing evidence that the Company will pay normal income tax during the specified period, i.e.
the period for which MAT credit is allowed to be carried forward. In the year in which the Company
recognizes MAT credit as an asset, the said asset is created by way of credit to the statement of profit
and loss and shown as “MAT Credit Entitlement”. The Company reviews the “MAT Credit
Entitlement” asset at each reporting date and writes it down to the extent the Company does not have
convincing evidence that it will pay normal tax during the specified period and utilize the MAT Credit
Entitlement

1 Cash and cash equivalents

Cash and cash equivalents comprises cash at bank and cash/cheques in hand and short term deposits
with Banks with an original maturity of three months or less reduced by short term advances from
Banks.

m. Earnings per share

Basic earnings per share are calculated by dividing the net profit or loss for the period attributable to
equity shareholders by weighted average number of equity shares outstanding during the period. The
weighted average number of equity shares is adjusted for events such as bonus issue and shares split
that have changed the number of equity shares outstanding without a corresponding change in
resources.

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

A provision is recognized when an enterprise has a present obligation as a result of past event; it is
probable that an outflow of resources will be required to settle the obligation, in respect of which a
reliable estimate can be made. Provisions are not discounted to their present value and are determined
based on best estimate required to settle the obligation at the balance sheet date. These are reviewed at
each balance sheet date and adjusted to reflect the current best estimates.

o. Contingent liabilities

A contingent liability is a possible obligation that arises from past events whose existence will be
confirmed by the occurrence or non-occurrence of one or more uncertain future events beyond the
control of the Company or a present obligation that is not recognized because it is probable that an
outflow of resources will be required to settle the obligations. A contingent liability also arises in
extremely rare cases where there is a liability that cannot be recognized because it cannot be measured
reliably. The Company does recognize a contingent liability and discloses its existence in the financial
statements

p. Retirement benefits

Contributions to defined contribution/benefit schemes such as Pension, Superannuation, Employees

State Insurance etc. are not applicable to the Company.
JCNET COMMUNICATIONS PRIVATE LIMITED
Notes to finacial statement for the year ended 31st march 2024

3 Share capital March 31, 2024

Rs.
Authorised shares
1,000,000 Equity shares of Rs. 1/- each 1,000,000

Issued, subscribed and fully paid-up shares

10,000 Equity Shares of Rs. 1/- each fully paid up 10,000

Total issued, subscribed and fully paid-up share capital 10,000

(a) Reconciliation of the shares outstanding at the beginning and at the end of the year
Equity Shares
March 31, 2024 March 31, 2023
Number Rs. Number

Issued, subscribed and fully paid up

Opening balance 10,000 10,000 10,000
Issued during the year - - -
Closing Balance 10,000 10,000 10,000

b) Rights, preference and restrictions attaching to each class of shares

The Company has only one class of equity shares having a par value of Rs. 1 per share. Each holder of equity shares is entitled to one vote per share..

In event of liquidation of the Company, the holders of equity shares would be entitled to receive remaining assets of the Company, after distribution of all
prefrential amounts. The distribution will be in proportion to the number of equity shares held by the shareholders.

(c) Shares held by each shareholder holding more than 5% shares

Name of shareholder March 31, 2024 March 31, 2023

No. of Shares % holding in Rs.

LINKDIGI LTD. 10,000 100.00% 10,000

10,000 100.00% 10,000

As per records of the Company, including its register of shareholders/ members and other declaration received from shareholders regarding beneficial
interest, the above shareholding represent both legal and beneficial ownership of shares.

8
 JCNET COMMUNICATIONS PRIVATE LIMITED
Notes to finacial statemetnt for the year ended 31st March 2023
4 Reserves and surplus Current Year Previous Year

Surplus/ (deficit) in the statement of profit and loss

Opening Balance 12,889,068 9,355,182
Add: Net profit after tax transferred form statement of profit & loss 3,787,573 3,533,886

Total Reserves and Surplus 16,676,641 12,889,068

NON CURRENT LIABILITIES

5 Deferred tax liabilities (net) Current Year Previous Year
(Rupees) (Rupees)

Deferred tax liabilities (net) 17,906 17,906

17,906 17,906

6 CURRENT LIABILITIES Current Year Previous Year

(Rupees) (Rupees)
Total outstanding dues of micro enterprises and small enterprises
Total outstanding dues of creditors other than micro enterprises 366,155 415,398
and small enterprises
366,155 415,398

7 Other Current-liabilities Current Year Previous Year

(Rupees) (Rupees)

TDS Payable 12,000 45,575

GST Payable 73,408 177,257
Service Tax Payable 893,760 893,760
Income Tax Payable 1,190,076 946,949
2,169,244 2,063,541

8 Short-term provisions Current Year Previous Year

(Rupees) (Rupees)

- -

- -

JCNET COMMUNICATIONS PRIVATE LIMITED

Notes to finacial statemetnt for the year ended 31st March 2023

10 Trade Receivables Current Year Previous Year

(Rupees) (Rupees)
Unsecured, considered good

Others 2,165,287 2,165,287

Outstanding for period exceeding six months from 2,331,149 2,331,149
the due date of payments
4,496,436 4,496,436

11 Cash and cash equivalents Current Year Previous Year

(Rupees) (Rupees)
Cash and cash equivalents
Balances with banks:
Current Account 14,156,783 9,818,310
– Cash in Hand 171,071 347,795

14,327,854 10,166,105

9
12 Short- Term Loans & Advances Current Year Previous Year
(Rupees) (Rupees)

Prepaid expenses 47,953 47,953

Income Tax Refundable 57,742 57,742
Income Tax Refundable AY 2022-23 - 317,963

105,695 423,658

13 Revenue from operations Current Year Previous Year

(Rupees) (Rupees)

Sale of services 16,354,509 13,969,892

16,354,509 13,969,892

14 Other income Current Year Previous Year

(Rupees) (Rupees)

Interest on Income Tax Refund 20,190 12,663

20,190 12,663

15 EMPLOYEE BENEFIT EXPENSES Current Year Previous Year

(Rupees) (Rupees)

SALARIES AND WAGES 5,769,853 4,480,614

STAFF WELFARE 151,199 157,715

5,921,052 4,638,329

16 Other Expenses Current Year Previous Year

(Rupees) (Rupees)

Auditors' remuneration 15,000 15,000

Purchases and Consumables 93,081 103,732
Legal & Professional expenses 82,500 411,230
Accounting Expenses - 721,000
Communication & Internet costs - 39,192
Electricity Expenses - 255,102
Printing & Stationery 5,299 34,630
Insurance 70,916 69,508
Office Maintenance Expenses 395,074 490,337
Rent 1,440,000 1,230,000
IT Expenses - 49,560
Travelling & Conveyance 514,248 237,648
Brokerage & Commision 140,237 150,509
Advertisement Expense - 371,900
Generator Hire Charges - 108,000
Miscellaneous Expenses 2,278,013 200
Courier Charges - 140,290

Total Expenses 5,034,368 4,427,838

17 Finance Costs Current Year Previous Year

(Rupees) (Rupees)

Bank charges - 1,429

Interest,Penalties & ROC Fees 4,100 -

4,100 1,429

10
18 Earnings per share Current Year Previous Year
(Rupees) (Rupees)

Profit/(loss) after tax 3,787,573 3,533,886

Less : Dividends on convertible preference shares & tax thereon - -
Net profit/(loss) for calculation of basic EPS 3,787,573 3,533,886

Add : dividends on convertible preference shares & tax thereon - -

Add : interest on bonds convertible into equity shares (net of tax) - -
Net profit/(loss) for calculation of diluted EPS 3,787,573 3,533,886

Weighted average number of equity shares in calculating basic EPS 10,000 10,000

Weighted average number of equity shares in calculating diluted EPS 10,000 10,000

Basic earnings per share 378.76 353.39

Diluted earnings per share 378.76 353.39

11
 March 31, 2023
Rs.

1,000,000

10,000

10,000

March 31, 2023

Rs.

10,000
-
10,000

ng a par value of Rs. 1 per share. Each holder of equity shares is entitled to one vote per share..

quity shares would be entitled to receive remaining assets of the Company, after distribution of all
n to the number of equity shares held by the shareholders.

March 31, 2023

% holding in

100%
100.00%

shareholders/ members and other declaration received from shareholders regarding beneficial
nd beneficial ownership of shares.

12
13
JCNET COMMUNICATIONS PRIVATE LIMITED
Notes to financial statements for the year ended 31st March 2024

Property, Plant & Equipments

Gross block Computer Office Eqipments

Opening Balance as on 01.04.2022 364,689 608,738
Additions during the year - 131,734
Deletion during the year -
Closing Balance as on 31.03.2023 364,689 740,472
Additions during the year - 127,852
Deletion during the year
Closing Balance as on 31.03.2024 364,689 868,324

Depreciation
Opening Balance as on 01.04.2022 335,652 328,722
Additions during the year 29,037 102,036
Deletion during the year - -
Closing Balance as on 31.03.2023 364,689 430,758
Additions during the year - 127,606
Deletion during the year - -
Closing Balance as on 31.03.2024 364,689 558,364

NET WDV as at 31.03.2023 - 309,714

NET WDV as at 31.03.2024 - 309,960
Total
973,427
131,734

1,105,161
127,852

1,233,013

664,374
131,073
-
795,447
127,606
-
923,053

309,714
309,960
 JCNET COMMUNICATIONS PRIVATE LIMITED

JCNET COMMUNICATIONS PRIVATE LIMITED

Notes to financial statements for the year ended 31st March 2024

19 Related party disclosures

Name of related parties where control exists irresrespective of whether

transactions have occurred or not

Key Management Personnel

- Shu Lin Zhao, Director
- Subhash Saini,Director
- Shatrughan Kumar Roy, Director
MUNICATIONS PRIVATE LIMITED
 2024 2023
20 Transaction in Foreign Currency
C) Expenditure Incurred In Foreign Currency - -

d) Earnings in Foreign Currency

Sale of Services (In USD) - -
Travelling Expenses (In USD) - -
Employee Education Fee (In CAD) - -
(in Indian Rs) - -

21 Auditors’ remuneration (excluding GST) and expenses charged to the accounts:

Particulars 2024 2023
As Auditor 15,000 15,000
For Other Services - -
Total (Rs.) 15,000 15,000
22 The balances of Sundry debtors and Loans and Advances as on the date of balance sheet are
subject to confirmation & reconciliation

23 Operating
The Company Lease:
is having significant leasing arrangements in respect of premises (office, sites etc.). These
leasing arrangements are ranging between 11 months to 3 Years generally and are usually renewable by
mutual consent on mutually agreed terms.
Minimum rental payable under operating lease are as follows: 2024 2023

Within one year - -

Financial Lease :

The Company not having financail leasing arrangement in any kind of class of assets.

24 Segment information

The Company primarilyin the business of construction of road and highways and operates in single
geographical segment i.e. India only. Accordingly, the disclosure requirement of Accounting Standard -17
"Segement Reporting" notified in the companies(accounting Standards) Rules 2006 are not applicable.

25 Wilful defaulters
The Company has not been decleared wilful defaulter by any bank or financial institution or any other lender.

26 Registration of charges or satisfaction with Registrar of companies

The Company has registered required charges or satisfaction with Registrar of Companies within the statutory period

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

28 Compliance with number of layers of companies

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.

29 Undisclosed Income

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 assessment under the Income Tax Act, 1961, (such as survey, search, 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.
 30 Details of crypto currency or Virtual currency
The Company has neither traded nor invested in crypto currency or virtual currency during the financial year ended on
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.

31 The Company not have any transactions with the Companies struck off under section 248 of the Companies Act,2013.

32 Ratio Numerator Denominator Current Period Previous Period% Variance

Current
Current assets Liability
(include (Include Trade
Inventories,Trade Creditors, Short
Current Ratio Receivable, Cash & Term Loans, 7.47 6.09 22.68
Bank Balance, Loans & Cash Credit,
advances, Other Provisons and
Currents Assets) other current
liabilities)
Total
Shareholders
Debt Equity Ratio Total Outside Liability - - -
Equity &
Reserves
Debt
Net Operating Service(Current
Debt Service
Income(Net Profit+Non Debt - - -
Coverage Ratio
Cash Exp+Interest) Obligation+Inter
est)

Return on Equity Avg. No of

Net Profit After Tax 378.76 353.39 7.18
Ratio Equity Shares

Cost of Goods Sold Avg. Inventory

Inventory Turnover (Opening (Opening
- - -
Ratio Stock+Purchase- Stock+Closing
Closing Stock) Stcok)/2

Trade Receivable Avg. Trade

Net Credit Sales - - -
Turnover Ratio Receivable
Trade Payable Avg. Trade
Total Purchase - - -
Turnover Ratio Payable

Avg. Working
Net Capital Turnover Capital ( Current
Total Sales 1.00 1.11 -9.97
Ratio Assets - Current
Liabilities)
Net Profit Ratio Net Profit before Tax Net Sales 32.33 34.24 -5.59
Capital
Employed
Return on Capital EBIT (Earning before (Tangible Net
- - -
Employed Tax & Interest) Worth,Total
Debts, Deferred
Tax Liability)
Return on Investment Return/Profit/Earnings Investment - - -

For Malik Girish Anand & Co.

Chartered Accountants For and on behalf of the board of Directors
Firm No.011613N

Subhash Saini Shatrughan Kumar Roy

Director Director
Rashmeet Kaur DIN : 07373814 DIN : 07373811
Partner
Membership No.: 517062
Place : New Delhi
Date: 26.09.2024