Nilkanth Engineering Ltd. - Quarterly/Annual Result Disclosures and Notes dated 31 Mar 2021

1. These Standalone Financial Results for the Quarter/year ended 31.03.2021 have been reviewed by the Audit Committee and subsquently approved at the Meeting of the Board of Directors held on 29th June, 2021



2. The Statment has been prepared in accordance with Companies (Indian Accounting Standards) Rules, 2015 prescribed under section 133 of the Companies Act, 2013 and other recognized accounting practices and policies to the extent applicable.



3. The Company operate mainly in the business of segment of fund based lending and financial activities. All other Activities revolve around the main business, Further all activities are carried out within India. As such there is no separate segment reportable as per the provisions of IND AS108 on Operating Segments.



4. Pursuant to RBI Letter having ref: 1287/14/12-14-023/2018-19 dated 17.03.2020, the Company vide its reply letter dated 12.08.2020, has surrendered its Original Certificate of Registration issued by RBI stating that the principal business of the Company is no longer that of NBFC.



Consequently the Financial Results for the year ended 31.03.2021 is prepared as per the format applicable to non-NBFC and previous year's figures are also restated accordingly.



Furthe an amount of Rs 92,89,250/- appearing as at the begining of the period towards Special Reserve required to be maintained under Reserve Fund under RBI Act, 1934 has been transferred to Retained Earning since the principal business of the Company is no longer as of NBFC.



5.COVID-19 Outbreak declared as a global pendamiinc by WHO has continued to spread rapidly leading to extension of nationalwise lockdown with minor exemption and quarantine measures stalling economic activitiy. The Company has been in operation with minimal permitted staff. The Company has not faced any material adversity on the financial position as at 31.03.2021 and considering other relevant facts and circumstances existing as of that date, the Company does not anticipate any material uncertainities which affect its liquidity position and also ability to contiune as a going concern. However the impact of global health pandemic may differ from that estimated as at the date of approval of the financial results and the Company will continue to closely monitor and material changes to future economic conditions.



6. The figures for the Quarter ended 31st March, 2021 and 31st March, 2020 are the balancing figures in respect of full financial year and the un-audited published year to date figures upto nine months ended 31st December, 2020 and 31st December, 2019 which are subject to limited review