GVPTECH2025-01-012025-03-31GVPTECH2025-03-31GVPTECH2024-03-31GVPTECH2024-04-012025-03-31GVPTECH2025-01-012025-03-31in-capmkt:OtherExpenses1MemberGVPTECH2024-04-012025-03-31in-capmkt:OtherExpenses1MemberGVPTECH2025-01-012025-03-31RelatedPartyTransactionDomain1GVPTECH2024-12-31RelatedPartyTransactionDomain1GVPTECH2025-03-31RelatedPartyTransactionDomain1GVPTECH2025-01-012025-03-31RelatedPartyTransactionDomain2GVPTECH2024-12-31RelatedPartyTransactionDomain2GVPTECH2025-03-31RelatedPartyTransactionDomain2GVPTECH2025-01-012025-03-31RelatedPartyTransactionDomain3GVPTECH2024-12-31RelatedPartyTransactionDomain3GVPTECH2025-03-31RelatedPartyTransactionDomain3GVPTECH2025-01-012025-03-31RelatedPartyTransactionDomain4GVPTECH2024-12-31RelatedPartyTransactionDomain4GVPTECH2025-03-31RelatedPartyTransactionDomain4GVPTECH2025-01-012025-03-31RelatedPartyTransactionDomain5GVPTECH2024-12-31RelatedPartyTransactionDomain5GVPTECH2025-03-31RelatedPartyTransactionDomain5GVPTECH2025-01-012025-03-31RelatedPartyTransactionDomain6GVPTECH2024-12-31RelatedPartyTransactionDomain6GVPTECH2025-03-31RelatedPartyTransactionDomain6GVPTECH2025-01-012025-03-31AuditorDomain1GVPTECH2025-01-012025-03-31in-capmkt:AuditedMemberGVPTECH2025-03-31in-capmkt:AuditedMemberGVPTECH2025-01-012025-03-31in-capmkt:AdjustedMemberGVPTECH2025-03-31in-capmkt:AdjustedMemberGVPTECH2025-01-012025-03-31AuditQualification1GVPTECH2025-01-012025-03-31AuditQualification2iso4217:INRiso4217:INRxbrli:shares000000GVPTECHNOTLISTEDINE382T01030GVP INFOTECH LIMITEDMain BoardEquity2024-04-012025-03-312025-05-262025-05-23INRLakhsQuarterlyFourth quarterSingle segmentIT Goods & IT Services2025-05-2604:03:002025-05-2604:20:00trueCash Flow IndirectStatement on impact of audit qualificationtruetrueNANAfalsetrue2024-05-28https://gvpinfotech.com/wp-content/uploads/2024/05/Policy-on-Related-Party-Transaction.pdffalsetrue2025-01-012025-03-31AuditedStandalone15234000-3620000116140000657000137400015650002550004160002815400032421000-208070000-2080700003320003320000-211390000000-211390000-211390003257230002-0.13-0.1300-0.13-0.132024-04-012025-03-31AuditedStandalone5690200070500057607000030648000-26000635900025500020400004443100083707000-261000000-2610000003320003320000-264320000000-264320000-2643200032572300020-0.16-0.1600-0.16-0.16Other Expenses28154000Other Expenses44431000937000000015370660008334000873100015541310001563501000241200008754000497637000272000789790005856420004237000592291000215579200032572300013273150001653038000165303800002012000201200090600029180000029180001340000044164900044164900065620004495510005016000012500049983600050275400021557920000-2600054566000488320008277000-12499000-5336000-1613900041340003740160002012000410950004110800020400000-550000670000000000016309000-2852400005298770005037770000000050377700000000000-3110000000000000000000000000-3110000000000010880000016286000000-1519800048826800004882680000488268000GVP INFOTECH LIMITED******Drashti ketan jain******Company secretaryRemuneration102000NA02024-11-04102000034000GVP INFOTECH LIMITED******Rajesh Thakur******Managing DirectorRemuneration100000NA02024-11-041000000100000GVP INFOTECH LIMITED******Linkstar Infosys Private Limited******Holding shareAny other transactionsale Transaction2500000NA02024-11-04250000000GVP INFOTECH LIMITED******Linkstar Infosys Private Limited******Holding shareAny other transactionunsecured Loan taken37674000NA02024-11-04376740002850000GVP INFOTECH LIMITED******Linkstar Infosys Private Limited******Holding shareAny other transactionunsecured Loan repaid37959000NA02024-11-043795900000GVP INFOTECH LIMITED******Linkstar Infosys Private Limited******Holding shareAny other transactionunsecured loan1339000NA02024-11-0413390000133900079674000AuditedQualified opinionPurushottam Khandelwal & Co.true2025-11-3056901000569010008370700083707000-26100000-26100000-0.16-0.16215579100021557910002155791000215579100016530380001653038000We have observed that the company did not establish a provision for doubtful debts viz. Minosha India Ltd. Formally Known as RICOH India Limited amounting to Rs. 110.02 Crores however the company has initiated the arbitration proceedings for a claim of Rs. 395 Crores appx. against Minosha India Limited Formally Known as RICOH India Limited for various project executed jointly.RUDSICO amounting to Rs. 40 Crores Arbitration notice served to RUDSICO local self-government department to invoke Arbitration as on 06.03.2023 for non payment and termination of Smart Rajasthan contract for Rs. 35.28 Cr. Presently the matter is pending befor the Honble High court of Jaipur for appointment of Arbitrator as per the terms of the contract. Ind AS 37 requires entity to recognize a provision for doubtful debts when there is a possibility that the company will be able to collect all the amount from its debtor is uncertain. The provisions should reflect the best estimate of credit losses that are likely to be incurred on the companys receivables portfolio. By not establishing provisions for doubtful debts the companys financial statements may be misstated by overstatement of trade receivables and understatement of expenses.Qualified opinionWhether appeared first timeNANA1 Provision for Daubtful Debts Minosha India Ltd and RUDSICO <br></br> <br></br> Minosha India Ltd Formerly Ricoh India Limited Outstanding amount 0f Rs110.02 Crores <br></br> <br></br> The Company has initiated arbitration proceedings to claim approximately Rs.395 Crores against Minosha India Limited for multiple projects executed jointly which is more than 3 times of amount outstanding in the books of accounts. In light of the ongoing arbitration the Company has assessed that the recovery is possible based on legal advice and therefore has not made a provision although uncertainty in timing and quantum of recovery <br></br> is acknowledged. <br></br> <br></br> Rajasthan Urban Drinking Water Sewerage and Infrastructure Corporation RUDSICO <br></br> <br></br> The Company served an arbitration notice on 06.03.2023 for nonpayment under the Smart Rajasthan project contract amounting to Rs. 35.28 Crores which was terminated prematurely. The matter is currently pending before the Honourble High Court of Jaipur for appointment of an arbitrator and the Company is pursuing its legal remedies for recovery. We understand that as per Ind AS 37 a provision should be made when recovery is uncertain. However the management is of the view that considering the stage of legal proceedings and the strength of claims backed by documentation and legal opinion, no provision has been created at this stage. We assure you that we will continuously evaluate recoverability and update the accounting treatment accordingly in future financial periods.NAThe Company has filed application under section 9 of the IBC 2016 against Link Well Tele Systems Pvt Ltd for outstanding amount of Rs 7.90 Crore the same is pending before Honble NCLT Hyderabad. However the company has not made any provisions against the same as per IND AS 37Qualified opinionWhether appeared first timeNANAProvision for Outstanding Amount Linkwell Tele Systems Pvt. Ltd. <br></br> <br></br> The Company has filed an application under Section 9 of the Insolvency and Bankruptcy Code 2016 before the Honourble NCLT Hyderabad for the recovery of Rs. 7.90 Crores from Linkwell Tele Systems Pvt. Ltd. <br></br> <br></br> While this amount remains outstanding and subject to legal proceedings management is of the opinion, based on legal counsel and supporting documentation, that the receivable is legally enforceable and recoverable and hence no provision has been considered necessary as per Ind AS 37 at this stage. <br></br> <br></br> Nonetheless the Company acknowledges the inherent uncertainty in legal outcomes and commits to reassessing the provision requirement periodically however the amount of provision cannot quantified at this stage as these matters are sub judice hence effect of provision have not been given on the table mentioned at Sr 1. <br></br> <br></br> We confirm that the management has taken note of the basis of qualification and will ensure continued monitoring of the recoverability of these receivables. Any material charge in circumstances impacting the recoverability will be approgpriately disclosed and accounted for in subsequent financial statements in accordance with applicable standards.NARAJESH THAKURVEENA PANI CHAUDHARYRAJESH RAMNANICA MAHENDRASINGH S RAONAAhmedabad2025-05-3000000