Notes to Accounts of Aarey Drugs & Pharmaceuticals Ltd.

Mar 31, 2025

2.13. Provisions, contingent liabilities and contingent assets
Provision

Provisions are recognized when the Company has a present legal or constructive obligation as a result of
past events; it is probable that an outflow of resources will be required to settle the obligation; and the
amount has been reliably estimated.

If the effect of the time value of money is material, provisions are discounted using a current pre-tax
rate that reflects, when appropriate, the risks specific to the liability. When discounting is used, the
increase in the provision due to the passage of time is recognized as a finance cost.

Contingent liabilities

Contingent liabilities are disclosed when there is a possible obligation arising from past events, the
existence of which will be confirmed only by the occurrence or non-occurrence of one or more uncertain
future events not wholly within the control of the Company. A present obligation that arises from past
events where it is either not probable that an outflow of resources will be required to settle or reliable
estimate of the amount cannot be made, is termed as contingent liability.

The Company has various tax litigations for various years pending before various authorities under
Income Tax and GST, the outcome of which are material but not practicable for the Company to
estimate the timings of cash outflows

Contingent Assets

Contingent assets is disclosed where an inflow of economic benefit is probable.

2.14. Earning per share

Basic earnings per share are calculated by dividing the net profit or loss for the period attributable to
equity shareholders (after deducting attributable taxes) by the weighted average number of equity
shares outstanding during the period.

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

2.15. Cash Flow statement

Cash flows are reported using the indirect method, whereby profit before tax is adjusted for the effects
of transactions of non-cash nature and any deferrals or accruals of past or future cash receipts or
payments. The cash flows from operating, investing and financing activities of the Company are
segregated based on the available information.

2.16. Foreign Currency Transactions
Functional Currency

Financial statements of the Company are presented in Indian Rupees (Rs.), which is also the functional
currency.

Transactions and Translations

in a foreign currency and measured at fair value are translated at the Foreign-currency denominated
monetary assets and liabilities are translated into the relevant functional currency at exchange rates in
effect at the balance sheet date. The gains or losses resulting from such translations are included in net
profit in the Statement of Profit and Loss. Non-monetary assets and non-monetary liabilities
denominated exchange rate prevalent at the date when the fair value was determined. Non-monetary
assets and non-monetary liabilities denominated in a foreign currency and measured at historical cost
are translated at the exchange rate prevalent at the date of the transaction. Transaction gains or losses
realized upon settlement of foreign currency transactions are included in determining net profit for the
period in which the transaction is settled.The monetary items such as debtors and creditors are valued
at closing rate on 31^st March 2025.

2.17. Leases

Finance leases, which effectively transfer to the Company substantially all the risks and benefits
incidental to ownership of the leased item, are capitalized at the inception of the lease term at the
lower of the fair value of the leased property and present value of minimum lease payments. Lease
payments are apportioned between the finance charges and reduction of the lease liability so as to
achieve a constant rate of interest on

remaining balance of the liability. Finance charges are recognized as finance costs in the statement of
profit and loss. Lease management fees, legal charges and other initial direct costs of lease are
capitalized.

A leased asset is depreciated on a straight-line basis over the useful life of the asset. However, if there is
no reasonable certainty that the company will obtain the ownership by the end of the lease term, the
capitalized asset is depreciated on a straight-line basis over the shorter of the estimated useful life of
the asset or the lease term.

Leases, where the lessor effectively retains substantially all the risks and benefits of ownership of the
leased item, are classified as Operating leases. Operating lease payments are recognized as an expense
in the statement of profit and loss on a straight-line basis over the lease term unless the payments are
structured to increase in line with expected general inflation to compensate for the lessor''s expected
inflationary cost increases.

The accompanying notes are an integral part of the financial statements.

For Motilal& Associates LLP. For and on Behalf of the Board of Directors

(a member firm of M A R C K S Network) For Aarey Drugs And Pharmaceuticals Limited

Chartered Accountants CIN: L99999MH1990PLC056538

ICAI FRN : 106584W/W100751

Rishabh Jain Mihir Rajesh Ghatalia Nimit R. Ghatalia

Partner Managing Director Director

Membership. No. 179547 DIN:00581005 DIN: 07069841

Place : Mumbai
Date : 30^th May 2025

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Mar 31, 2024

2.13. Provisions, contingent liabilities and contingent assets Provision

Provisions are recognized when the Company has a present legal or constructive obligation as a result of past events; it is probable that an outflow of resources will be required to settle the obligation; and the amount has been reliably estimated.

If the effect of the time value of money is material, provisions are discounted using a current pre-tax rate that reflects, when appropriate, the risks specific to the liability. When discounting is used, the increase in the provision due to the passage of time is recognized as afinance cost.

Contingent liabilities

Contingent liabilities are disclosed when there is a possible obligation arising from past events, the existence of which will be confirmed only by the occurrence or non-occurrence ofone or more uncertain future events not wholly within the control of the Company. A present obligation that arises from past events where it is either not probable that an outflow of resources will be required to settle or reliable estimate of the amount cannot be made, is termed as contingent liability.

The Company has various tax litigations pending before various authorities, the outcome of which are material but not practicable for the Company to estimate the timings of cash outflows. .

Contingent Assets

Contingent assets is disclosed where an inflow of economic benefit is probable.

2.14. Earning per share

Basic earnings per share are calculated by dividing the net profit or loss for the period attributable to equity shareholders (after deducting attributable taxes) by the weighted average number of equity shares outstanding during the period.

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

2.15. Cash Flow statement

Cash flows are reported using the indirect method, whereby profit before tax is adjusted for the effects of transactions of non-cash nature and any deferrals or accruals of past or future cash receipts or payments. The cash flows from operating, investing and financing activities of the Company are segregated based on the available information.

2.16. Foreign Currency Transactions Functional Currency

Financial statements of the Company’s are presented in Indian Rupees (Rs.), which is also the functional currency.

Transactions and Translations

in a foreign currency and measured at fair value are translated at the Foreign-currency denominated monetary assets and liabilities are translated into the relevant functional currency at exchange rates in effect at the balance sheet date. The gains or losses resulting from such translations are included in net profit in the Statement of Profit and Loss. Non- monetary assets and non-monetary liabilities denominated exchange rate prevalent at the datewhen the fair value was determined. Non-monetary assets and non-monetary liabilities denominated in a foreign currency and measured at historical cost are translated at the exchange rate prevalent at the date of the transaction. Transaction gains or losses realized upon settlement of foreign currency transactions are included in determining net profit for the period in which the transaction is settled. The monetary items such as debtors and creditors are valued at closing rate on 31st march 2023 at the rate of Rs 82.17 per dollar .

2.17. Leases

Finance leases, which effectively transfer to the Company substantially all the risks and benefits incidental to ownership of the leased item, are capitalized at the inception of the lease term at the lower of the fair value of the leased property and present value of minimum lease payments. Lease payments are apportioned between the finance charges and reduction of the lease liability so as to achieve a constant rate of interest on the remaining balance ofthe liability. Finance charges are recognized as finance costs in the statement of profit and loss. Lease management fees, legal charges and other initial direct costs of lease are capitalized.

A leased asset is depreciated on a straight-line basis over the useful life of the asset.However, if there is no reasonable certainty that the company will obtain the ownership by

the end of the lease term, the capitalized asset is depreciated on a straight-line basis over the shorter of the estimated useful life of the asset or the lease term.

Leases, where the lessor effectively retains substantially all the risks and benefits of ownership of the leased item, are classified as Operating leases. Operating lease payments are recognized as an expense in the statement of profit and loss on a straight-line basis over the lease term unless the payments are structured to increase in line with expected general inflation to compensate for the lessor''s expected inflationary cost increases.

The accompanying notes are an integral part of the financial statements.

For Motilal & Associates LLP. For and on Behalf of the Board of Directors

(a member firm of M A R C K S Network) For Aarey Drugs And Pharmaceuticals Limited

Chartered Accountants CIN: L99999MH1990PLC056538

ICAI FRN : 106584W/W100751

Rishabh Jain Mihir Rajesh Ghatalia Nimit R. Ghatalia

Partner Managing Director Director

Membership. No. 179547 DIN: 00581005 DIN: 07069841

Place : Mumbai Date :30^th May 2024

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Mar 31, 2018

NOTE3

First Time Adoption TRANSITIONTOINDAS

These are the First Financial Statements of the Company prepared in accordance with IndAS.

The Accounting Policies set out in Note 1 have been applied in preparing the Financial Statements for the year ended March 31, 2018, the comparative information presented in these Financial Statements for the year ended March 31, 2017 and in the preparation of an opening Ind AS Balance Sheet as at April 1, 2016 (the date of transition). In preparing its opening IndAS Balance Sheet, the Company has adjusted the amounts reported previously in Financial Statements prepared in accordance with the Accounting Standards notified under Companies (Accounting Standards) Rules, 2006 (as amended) and other relevant provisions of the Act (Previous GAAP). An explanation of how the transition from Previous GAAP to IndAS has affected the financial position, financial performance and cash flows of the Company is set out in the following tables and notes:

(A) :-EXEMPTIONSAND EXCEPTIONSAVAILED

In preparing these IndAS Financial Statements, the Company has availed certain exemptions and exceptions in accordance with Ind AS 101 First-time Adoption of Indian Accounting Standards, as explained below. The resulting difference between the carrying values of the assets and liabilities in the Financial Statements as at the transition date under Ind AS and Previous GAAP have been recognized directly in equity (retained earnings or another appropriate category of equity). This Note explains the adjustments made by the Company in restating its Previous GAAP Financial Statements, including the Balance Sheet as at April 1, 2016 and the Financial Statements as at and for the year ended March 31,2017.

a) IndAS optional exemptions

Set out below are the applicable Ind AS 101 optional exemptions and mandatory exceptions applied in the transition from Previous GAAP to IndAS. i) Deemed cost

The Company has elected to measure all items of property, plant and equipment and intangible assets at its carrying value at the transition date.

b) IndAS mandatory exceptions

The Company has applied the following exceptions from full retrospective application of IndAS as mandatorily required under IndAS 101: i) Estimates

Estimates in accordance with IndAS at the transition date will be consistent with estimates made for the same date in accordance with Previous GAAP (after adjustments to reflect any difference in Accounting Policies) unless there is objective evidence that those estimates were in error.

IndAS estimates as atApril 1,2016 are consistent with the estimates as at the same date made in conformity with Previous GAAP. The Company made estimates for following items in accordance with Ind AS at the date of transition as these were not required under Previous GAAP:

1) Investment in equity instruments carried at FVPL or FVOCI

ii) Classification and measurement of financial assets

IndAS 101 requires an entity to assess classification and measurement of financial assets (investment in debt instruments) on the basis of the facts and circumstances that exist at the date of transition to IndAS.

Note 3.2

NOTESTO RECONCILIATION BETWEEN IGAAPAND INDAS a) Property, plant and equipment, and Intangible assets

The Company has elected to measure all items of property, plant and equipment and intangible assets at its carrying value at the transition date.

b) Leasehold land

In terms of Ind AS, the Company has identified, classified and presented transaction of leasehold land as finance lease upon the terms and conditions in existence as on date of transition to IndAS.

c) Investments in debt instruments - interest free loans

Loans given is a financial asset, which needs to be measured at amortized cost. As per Previous GAAP interest free loans was measured at transaction amount. In accordance with Ind AS 109 Finance Instruments, the Company has measured the loan given retrospectively at amortized cost on the date of transition.

Accordingly, the difference between the transaction amount and its fair value at the date of transaction has been recorded as deferred interest expense with a corresponding impact to the loans.

d) Deferred tax

Under Previous GAAP, deferred tax were accounted for using the income statement approach which focuses on differences between taxable profit and accounting profit for the period. IndAS requires entities to account for deferred taxes using the Balance Sheet approach which focuses on temporary differences between the carrying amount of an asset or liability in the Balance Sheet and its tax base. The application of Ind AS 12 approach has resulted in recognition of deferred taxes on temporary differences which were not required to be recorded under Previous GAAP.

In addition, the various transitional adjustments have led to deferred tax implications which the Company has accounted for. Deferred tax adjustments are recognized in correlation to the underlying transaction either in Retained earnings or Other
Comprehensive Income on the date of transition.

e) Retained earnings

Retained earnings as at April 1, 2016 have been adjusted consequent to the above IndAS transition adjustments.

f) Other Comprehensive Income

Under IndAS, all items of income and expense recognized in a period are to be included in profit or loss for the period, unless a standard requires or permits otherwise. Items of income and expense that are not recognized in profit or loss, but are shown in the Statement of Profit and Loss as Other Comprehensive Income which includes measurement of defined benefit plans, effective portion of gain | (loss) on cash flow hedging instruments and fair value gain | (loss) on FVOCI equity instruments. The concept of Other i Comprehensive Income did not exist under Previous GAAP.

(c) Terms/rights attached to equity shares

The Company has only one class of equity shares having a par value of Rs. 10 per share .Each holder of equity shares is entitled to one vote per share. The Company declares and pays dividend in Indian Rupees. The dividend proposed by the Board of directors is subject to the approval of the shareholders in ensuing Annual General Meeting. 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 preferential amounts. The Distribution will be in proportion to V the number of equity shares held by the shareholders.

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Mar 31, 2016

NOTES TO ACCOUNTS: ''

1. Balances of Trade Receivables, Loans and Advances, Secured Loans, Trade Payables & Others are subject to confirmation and reconciliation and consequential adjustments, if any.

2. In the opinion of the Board & to the best of their knowledge & belief the value of realization of current assets, loans & advances in the ordinary course of business would not be less than the amount at which they are stated in the Balance Sheet & the provisions for all the loans & determined liabilities is adequate and not in excess of the amount stated in balance sheet.

3. According to a technical assessment carried out by the Company, there is no impairment in the carrying cost of cash generating units of the Company in terms of Accounting Standards 28 issued by The Institute of Chartered Accountants of India.

4. The Company has not received the required information from suppliers regarding their status under the Micro, Small and Medium Enterprises Development Act, 2006. Hence disclosures, if any, relating to amounts unpaid as at the yearend together with interest paid/payable as required under the said Act have not been made.

5. Earnings Per Share (AS-20):

The Earning Per Share computed as per the requirement under Accounting Standard 20 on Earning Per Share issued by The Institute of Chartered Accountant of India, is as under:

6. Deferred Tax Assets/(Liability):

The Company has not provided Deferred Tax Liabilities for the year, amounting to Rs. 1,02,69,899/- resulting in overstatement of Reserve and Surplus by the said amount, which is not in conformity with Accounting Standard 22 on “Accounting on Taxes on Income “ issued by the Institute of Chartered Accountant of India.

7. As per information provided by management, depreciation as per companies act, 2013 has been provided only for four month because Plant & Machinery has been put to use for only for four months.

8. Related Party Transaction :

Related Parties and Nature of Relationship:

9. Segment Information (AS-17)

Company has only one segment of activity namely “Trading and Manufacturing Activities”. Since there is No export turnover, there are no reportable geographical segments.

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Mar 31, 2015

1. Balances of Trade Receivables, Loans and Advances, Secured Loans, Trade Payables& Others are subject to confirmation and reconciliation and consequential adjustments, if any.

2. In the opinion of the Board & to the best of their knowledge & belief the value of realization of current assets, loans & advances in the ordinary course of business would not be less than the amount at which they are stated in the Balance Sheet & the provisions for all the loans & determined liabilities is adequate and not in excess of the amount stated in balance sheet.

3. According to a technical assessment carried out by the Company, there is no impairment in the carrying cost of cash generating units of the Company in terms of Accounting Standards 28 issued by The Institute of Chartered Accountants of India.

4. The Company has not received the required information from suppliers regarding their status under the Micro, Small and Medium Enterprises Development Act, 2006. Hence disclosures, if any, relating to amounts unpaid as at the yearend together with interest paid/payable as required under the said Act have not been made.

5. Earnings Per Share (AS-20):

The Earning Per Share computed as per the requirement under Accounting Standard 20 on Earning Per Share issued by The Institute of Chartered Accountant of India, is as under:

6. Deferred Tax Assets/(Liability) :

The Company has not provided Deferred Tax Liabilities for the year, amounting to Rs. 1,02,69,899/- resulting in overstatement of Reserve and Surplus by the said amount, which is not in conformity with Accounting Standard 22 on "Accounting on Taxes on Income" issued by the Institute of Chartered Accountant of India.

7. The Company has not provided depreciation in the financial year 2001 to 2004 and has provided excess depreciation later on resulting in the Reserved & Surplus being over stated by Rs. 3,901,085/-.

8. Segment Information (AS-17)

Company has only one segment of activity namely "Trading and Manufacturing Activities". Since there is No export turnover, there are no reportable geographical segments.

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Mar 31, 2014

Terms/rights attached to equity shares

The Company has only one class of equity shares having a par value of Rs. 10 per share. Each holder of equity shares is entitled to one vote per share. The Company decleres and pays dividend in Indian Rupees. The dividend proposed by the Board of directors is subject to the approval of the shareholders in ensuing Annual General Meeting. 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 preferential amounts. The Distribution will be in proportion to the number of equity shares held by the shareholders.

1. Balances of Trade Receivables, Loans and Advances, Secured Loans, Trade Payables & Others are subject to confirmation and reconciliation and consequential adjustments, if any.

2. In the opinion of the Board & to the best of their knowledge & belief the value of realization of current assets, loans & advances in the ordinary course of business would not be less than the amount at which they are stated in the Balance Sheet & the provisions for all the loans & determined liabilities is adequate and not in excess of the amount.

3. Provision for retirement benefits to employees was provided on accrual basis, which is in conformity with Accounting Standard-15 issued by ICAI and the amount has not been quantified because actuarial valuation report is not available. However, in the opinion of the management the amount involved is negligible and has no material impact on the Statement of Profit & Loss.

4. According to a technical assessment carried out by the Company, there is no impairment in the carrying cost of cash generating units of the Company in terms of accounting standards-28 issued by the Institute of Chartered Accountants of India.

5. The Company has not received the required information from suppliers regarding their status under the Micro, Small and Medium Enterprises Development Act, 2006. Hence disclosures, if any, relating to amounts unpaid as at the year end together with interest paid/payable as required under the said Act have not been made.

6. Deferred Tax Assets/(Liability):

The Company has not provided Deferred Tax Liabilities for the year, amounting to Rs. 6,470,141/- resulting in overstatement of Reserve and Surplus by the said amount, which is not in conformity with Accounting Standard 22 on "Accounting on Taxes on Income " issued by the Institute of Chartered Accountant of India.

7. The Company has not provided depreciation in the financial year 2001 to 2004 and has provided excess depreciation later on resulting in the Reserved & Surplus being overstated by Rs3,901,085/-

8. Segment Information (AS-17)

Company has only one segment of activity namely "Trading and Manufacturing Activities". Since there is No export turnover, there are no reportable geographical segments.

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Mar 31, 2013

1. Balances of Debtors, Loans and Advances, Secured Loans, Sundry Creditors & Others are subjecttoconfirmation and reconciliation and consequential adjustments,if any.

2. In the opinion of the Board & to the best of their knowledge & belief the value of realization of current assets, loans & advances in the ordinary course of business would notbeless than the amount at which they are stated in the Balance Sheet & the provisions for all the loans & determined liabilitiesisadequate and not inexcess of the amount.

3. Provision for retirement benefits to employees was provided on accrual basis, which is in conformity with Accounting Standard-15 issued by ICAI and the amount has not been quantified because actuarial valuation report is not available. However, in the opinion of the management the amount involved is negligible and has no material impact on the Statement ofProfit&Loss.

4. According to a technical assessment carried out by the Company, there is no impairment in the carrying cost of cash generating units of the Company in terms of accounting standards-28 issued by the Institute ofCharteredAccountantsof India.

5. The Company has not received the required information from suppliers regarding their status under the Micro, Small and Medium Enterprises Development Act, 2006. Hence disclosures, if any, relating to amounts unpaid as at the yearend together with interest paid/payable as required under the saidAct have not been made.

6. EarningsPer Share (AS-20):

The Earning Per Share computed as per the requirement under Accounting Standard 20 on Earning Per Share issued by The Institute of CharteredAccountant of India, is as under:

7. Deferred TaxAssets/(Liability) :

The Company has not provided Deferred Tax Liabilities for the year, amounting to Rs. 8,059,681/- , resulting in overstatement of Reserve and Surplus by the said amount, which is not in conformity with Accounting Standard 22 on "Accounting on Taxes on Income " issued bythe Institute of CharteredAccountant ofIndia.

8. The Company has not provided depreciation in the financial year 2001 to 2004 and has provided excess depreciation later on resulting in the Reserved & Surplus being overstated by Rs.307,235.

9. SegmentInformation(AS-17)

Company has only one segment of activity namely "Trading and Manufacturing Activities". Since there is No export turnover, there are no reportable geographical segments.

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Mar 31, 2012

(a) Terms/rights attached to equity shares

The Company has only one class of equity shares having a par value of'10 per share. Each holder of equity shares is entitled to one vote per share. The Company declares and pays dividend in Indian Rupees. The dividend proposed by the Board of directors is subject to the approval of the shareholders in ensuing Annual General Meeting. 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 preferential amounts. The Distribution will be in proportion to the number of equity shares held by the shareholders.

1. Balances of Debtors, Loans and Advances, Secured Loans, Sundry Creditors & Others are subject to confirmation and reconciliation and consequential adjustments, if any.

2. In the opinion of the Board & to the best of their knowledge & belief the value of realization of current assets, loans & advances in the ordinary course of business would not be less than the amount at which they are stated in the Balance Sheet & the provisions for all the loans & determined liabilities is adequate and not in excess of the amount.

3. Provision for retirement benefits to employees was not provided on accrual basis, which is not in conformity with Accounting Standard-15 issued by ICAI and the amount has not been quantified because actuarial valuation report is not available. However, in the opinion of the management the amount involved is negligible and has no material impact on the Statement of Profit & Loss.

4. According to a technical assessment carried out by the Company, there is no impairment in the carrying cost of cash generating units of the Company in terms of accounting standards-28 issued by the Institute of Chartered Accountants of India.

5. The Company has not received the required information from suppliers regarding their status under the Micro, Small and Medium Enterprises Development Act, 2006. Hence disclosures, if any, relating to amounts unpaid as at the yearend together with interest paid/payable as required under the said Act have not been made.

6. Deferred Tax Assets/(Liability):

The Company has not provided Deferred Tax Liabilities for the year, amounting to Rs. 73,09,521/-, resulting in overstatement of Reserve and Surplus by the said amount, which is not in conformity with Accounting Standard 22 on "Accounting on Taxes on Income " issued by the Institute of Chartered Accountant of India.

7. Segment Information (AS-17)

Company has only one segment of activity namely "Trading and Manufacturing Activities". Since there is No export turnover, there are no reportable geographical segments.

8. The Revised Schedule VI has become effective from 1 April, 2011 for the preparation of financial statements. This has significantly impacted the disclosure and presentation made in the financial statements. Previous year's figures have been regrouped / reclassified wherever necessary to correspond with the current year's classification/disclosure.

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Mar 31, 2010

* Related Parties Disclosures.

Name of the related parties where control exists irrespective of whether transactions have occurred or not:

Note: Related Party relationship is as identified by the Company and relied upon by the auditors.

A - Key Management Personnel

- Rajesh P Ghatalia - Chairman - Chairman up to 29/12/2009

- Chetan Mehta - Director

- Rajesh P Ghatalia - Director Remuneration

- Mihir P Ghatalia - Director Remuneration



B - Relatives of Key Management Personnel

- Damyanti P Ghatalia - Mother of Shri Rajesh P Ghatalia

- Bina R Ghatalia - Wife of Shri Rajesh P Ghatalia

- Mihir R Ghatalia - Son of Shri Rajesh P Ghatalia

- Nimit R Ghatalia - Son of Shri Rajesh P Ghatalia

- Bina R Ghatalia - Office Rent

- Damyanti P Ghatalia - House Rent

- Damyanti P Ghatalia - Office Rent

- Priti Chetan Mehta - Wife of Shri Chetan Mehta.

In the opinion of Board of Directors, the " Current assets, loans and advances " have a value on realization in the ordinary course of business at least equal to the amount at which these are stated in the Balance Sheet.

* In pursuance of circular regarding interest on delayed payment of small scale and ancillary industrial undertakings Act, the liability could not be determined as thenecessary details are not available with the Company.

* Over due amount payable to Micro, Small and Medium Enterprises could not beascertained as the necessary details are not available with the Company.

* The balances of Suppliers, Sundry Debtors, Loans and Advances, Unsecured Loans, are as per books of accounts and subject to reconciliation andconfirmation with therespective parties.

* The investments and inventory are subject to physical verification andconfirmation. Previous figures have been regrouped and rearranged wherever necessary to make the comparable with those of the current year. Signatures to statement of significant Accounting policies, Schedules and notes to accounts.