Arohan Financial Services Limited | Annual Report 2021-22

228 | Annual Report | 2021-2022 Arohan Financial Services Limited Summary of significant accounting policies and other explanatory information for the year ended 31 March, 2022 (Contd.) (All amounts in ` lakhs unless otherwise stated) J. Compliance with approved Scheme(s) of Arrangements There are no Scheme of Arrangements approved by the Competent Authority in terms of section 230 to 237 of the Act. K. Utilisation of borrowed funds and share p remium No funds have been advanced or loaned or invested (either from borrowed funds or share premium or any other sources or kind of funds) by the Company 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 lend or invest in party identified by or on behalf of the Company (Ultimate Beneficiaries). The Company has not received any fund from any party(s) (Funding Party) with the understanding that the Company shall whether, directly or indirectly lend or invest in other persons or entities identified by or on behalf of the Company (“Ultimate Beneficiaries”) or provide any guarantee, security or the like on behalf of the Ultimate Beneficiaries. L. Undisclosed income There are no transactions 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. M. Corporate Social Responsibility (CSR) Refer note 55 N. Details of Crypto Currency or Virtual Currency The Company has not traded or invested in Crypto Currency or Virtual Currency during the financial year. Note 61: The Code on Social Security 2020 (‘the Code’) relating to employee benefits, during the employment and post-employment, has received Presidential assent on September 28, 2020. The Code has been published in the Gazette of India. Further, the Ministry of Labour and Employment has released draft rules for the Code on November 13, 2020. However, the effective date from which the changes are applicable is yet to be notified and rules for quantifying the financial impact are also not yet issued. The Company will assess the impact of the Code and will give appropriate impact in the financial statements in the period in which, the Code becomes effective and the related rules to determine the financial impact are published. Note 62: Previous year ended figures have been regrouped/ rearranged wherever necessary, to conform with the current year. Note 60: Additional regulatory information pursuant to Ministry of Company Affairs Notification dated March 24, 2021: (Contd.) For M S K A & Associates For and on behalf of the Board of Directors of Chartered Accountants Arohan Financial Services Limited Firm Registration No. 105047W Tushar Kurani Manoj Kumar N Nambiar Vineet Chandra Rai Partner Managing Director Director Membership No. 118580 DIN: 03172919 DIN: 00606290 Place: Kolkata Place: Kolkata Anirudh Singh G Thakur Milind R Nare Company Secretary Chief Financial Officer Place: Kolkata Place: Kolkata Place: Kolkata Date: 11 May 2022 Date: 11 May 2022 This is the summary of significant accounting policies and other explanatory information referred in our report of even date