Notes to Accounts of Acme Resources Ltd.

Mar 31, 2024

(d) Terms and 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.

In the event of liquidation of the company, the holders of equity shares will 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.

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

The Company has not allotted any share pursuant to contracts without payment being received in cash nor it has issued any bonus shares or bought back any shares, during the period of five years immediately preceding the reporting date.

Retained Earnings

Retained earnings represents the surplus in profit and loss account and net amount of appropriations made to/from retained earnings Statutory reserve fund

Statutory Reserve fund is created as per the terms of section 45 IC(1) of the Reserve Bank of India Act, 1934 as a statutory reserve.

Securities premium

Securities premium is used to record the premium on issue of shares. It can be utilised only for limited purposes in accordance with the provisions of the Companies Act, 2013

33 Provision for retirement benefits under the Payment of Gratuity Act and Provident Fund Act have not been made as the said act are not applicable to the company on account of the company having less than the required number of employees.

34 Contingent Liability - Rs. NIL (Previous Year Rs. Nil).

35 The company has filed legal suits against 5 customers for recovery of Loan and advances amounting to Rs. 11.47 crores (Previous year Rs. 11.47 crores).

Since the above loans and advances are fully secured, the company does not foresee any liability against it. The required provision on the aforesaid loans and advances has been made in the books of account as on 31 st March'' 2024 as per RBI guidelines.

36 Estimated amount of contracts remaining to be executed on capital account Rs. Nil (Previous Year Rs. Nil).

37 SEGMENT REPORTING

Ind AS - 108 on ''Segment Reporting’ became applicable during the current year. The Company is engaged in financing by way of loans and sale of property. The Company does not have any reportable geographic segment. The Revenues profit and assets from the reportable business segment in terms of Ind AS -108 on ''Segment Reporting’ as notified by the Companies (Accounting Standards) Rules 2006 are as given below:

40 As per Section 135 of the Companies Act 2013 the Company is required to spend in every financial year at least two per cent of the average net profits of the company made during the three immediately preceding financial years on corporate social responsibility (CSR) activities. During the current year, the company has not contributed towards CSR initiatives due to losses in three immediate preceding financial years.

42 Sundry debtors and Loans and Advances have value on realization in the ordinary course of business at least equal to the amount at which they are stated in the financial statement.

43 Debit and Credit Balances outstanding in the accounts of some of the parties are subject to confirmation/reconciliation.

44 Previous year figures

Figures of the previous year have been regrouped /reclassified wherever considered necessary to confirm to current year classification.

45 Fair value measurements

A Financial assets and liabilities

The carrying amounts of financial instruments by category are as follows:

B Fair value hierarchy

Financial assets and financial liabilities are measured at fair value in the financial statements are grouped into three Levels of a fair value hierarchy. The three Levels are defined based on the observability of significant inputs to the measurement, as follows:

The category used are as follows:

Level 1: Quoted prices (unadjusted) in for identical instruments in active markets;

Level 2: Directly (i.e. as prices) or indirectly (i.e. derived from prices) observable market inputs, other than Level 1 inputs; and Level 3: Inputs which are not based on observable market data (unobservable inputs).

The management assessed that fair values of cash and cash equivalents, other bank balances, other financial assets, trade payables and other financial liabilities approximate their respective carrying amounts, largely due to the short-term maturities of these instruments. The following methods and assumptions were used to estimate the fair values for other assets and liabilities:

(i) The fair values of the Company’s fixed interest bearing loan and investment in debt securities are determined by applying discounted cash flows (‘DCF’) method, using discount rate that reflects the issuer’s borrowing rate as at the end of the reporting period.

(ii) The fair values of the Company fixed rate interest-bearing debt securities and borrowings are determined by applying discounted cash flows (‘DCF’) method, using discount rate that reflects the issuer’s borrowing rate as at the end of the reporting period. For variable rate interest-bearing debt securities and borrowings carrying value represent best estimate of their fair value as these are subject to changes in underlying interest rate indices as and when the changes happen.

46 Financial Risk Management

The Company''s principal financial assets include investments, loans, trade receivables, other receivables, cash and cash equivalents and other bank balances that derive directly from its operations. The Company''s principal financial liabilities, comprise loans and borrowings, trade and other payables. The main purpose of these financial liabilities is to finance the Company''s operations.

a) Market risk:

Market risk is the risk that the fair value of future cash flows of a financial instrument will fluctuate because of changes in market prices. Market risk comprises three types of risk: interest rate risk, foreign currency risk and other price risk such as equity price risk. Financial instruments affected by market risk include loans and borrowings, deposits, other financial instruments.

b) Interest Rate Risk

The Company has exposure to interest rate risk, primarily from its lending business and related borrowings. The following table demonstrates the sensitivity to a reasonably possible change in interest rates (all other variables being constant) of the Company''s statement of profit and loss.

The Company''s policy is to monitor positions of borrowings and loans on a regular basis for managing interest rate risk and for determining the interest rate to be charged on the loan given and having a balanced portfolio of fixed and variable rate loans and borrowings.

c) Foreign currency risk:

The Company does not have any foreign currency risk. Hence no sensitivity analysis is required

d) Credit Risk:

Credit risk is the risk that the Company will incur a loss because its Loans and receivables fail to discharge their contractual obligations and arises principally from the Company''s Loans and advances, receivables, cash and cash equivalents, deposits with banks and investments. The Company has a framework for monitoring credit quality of its Loans and receivables based on days past due monitoring at period-end. Repayment by individual Loans and receivables are tracked regularly and required steps for recovery are taken through follow ups and legal recourse.

The Company measures the expected credit loss of Loans and receivables based on historical trend, industry practices and the business environment in which the entity operates. Expected Credit Loss is based on actual credit loss experienced and past trends based on the historical data.

Credit risk management

Company considers probability of default upon initial recognition of asset and whether there has been any significant increase in credit risk on an ongoing basis throughout each reporting period. To assess whether there is a significant increase in credit risk Company compares the risk of default occurring on the asset as at the reporting date with the risk of default as at the date of initial recognition. It considers available reasonable and supportive forward-looking information.

Definition of Default

A default on a financial asset is when the counterparty fails to make contractual payments within 90 days of when they fall due. This definition of default is determined by considering the business environment in which NBFC operates and other macro-economic factors.

For Trade receivables, definition of default has been considered at 360 days past due after looking at the historical trend of receiving the payments.

Company provides for expected credit loss based on following:

The Company classifies its financial assets in three stages having the following characteristics :

Stage 1 :- Unimpaired and without significant increase in credit risk since initial recognition on which a twelve months allowance for ECL is recognised;

Stage 2 :- a significant increase in credit risk since initial recognition on which a lifetime ECL is recognised; and

Stage 3 :-Objective evidence of impairment, and are therefore considered to be in default or otherwise credit impaired on which lifetime ECL is recognised.

Unless identified at an earlier stage, all financial assets are deemed to have suffered a significant increase in credit risk when they are thirty days past due ( DPD ) on the reporting date and are accordingly transferred from stage 1 to stage 2 .For Stage 1 an ECL allowance is calculated on a twelve months point in time probability weighted probability of default . For stage 2 and 3 assets a life time ECL is calculated on a lifetime probability of default (Refer note 56)

Credit risk on cash and cash equivalents is limited as the Company generally invest in deposits with banks with high credit ratings assigned by credit rating agencies.

e) Liquidity Risk

Liquidity risk refers to the risk that the Company cannot meet its financial obligations. The Company''s approach to managing liquidity is to ensure, that it will have sufficient liquidity to meet its liabilities when they are due, under both normal and stressed conditions, without incurring unacceptable losses or risking damage to the Company''s reputation.

The Company''s principal sources of liquidity are cash and cash equivalents, liquid asset portfolio like Mutual funds and the cash flow that is generated from operation.

The following are the remaining contractual maturities of financial liabilities at the reporting date. The amounts are gross and undiscounted, and include interest accrued till the reporting date.

47 Capital Management

For the purpose of Company''s capital management, capital includes issued capital and other equity reserves. The primary objective of the Company''s Capital Management is to maximize shareholder value. The Company manages its capital structure and makes adjustments in the light of changes in economic environment and the requirements of the financial covenants. The Company monitors capital on the basis of the following gearing ratio.

In terms of the requirement as per RBI notification no. RBI/2019-20/170 DOR (NBFC).CC.PD.No.109/22.10.106/2019-20 dated March 13, 2020 on implementation of Indian Accounting Standards, Non-Banking Financial Companies (NBFCs) are required to create an impairment reserve for any shortfall in impairment allowances under Ind AS 109 and Income Recognition, Asset Classification and Provisioning (IRACP) norms (including provision on standard assets). The impairment provision required under IRACP (including standard asset provisioning) exceeds the provision made under Ind AS 109, as at March 31, 2023 and accordingly, no amount is required to be transferred to impairment reserve.

57 The Company had invoked resolution plans to relieve COVID-19 pandemic related stress to eligible borrowers. The resolution plans were based on the parameters laid down in the resolution policy approved by the Board of Directors of the Company and in accordance with the guidelines issued by the RBI on August 6, 2020. Since no resolution plan had been invoked by customers, no disclosure is required as per the format prescribed as per the notification no. RBI/2020-21/16 DOR.NO.BP.BC/3/21.04.048/2020-21 for the year ended March 31, 2024.

58 Title deeds of Immovable Properties not held in name of the Company

The Company does not possess any immovable property (other than properties where the Company is the lessee and the lease agreements are duly executed in favour of the lessee) whose title deeds are not held in the name of the Company during the financial year ended March 31, 2024 and March 31,2023.

59 Details of Crypto Currency or Virtual Currency

The Company has not traded or invested in Crypto currency or Virtual currency during the financial years ended March 31,2024 and March 31, 2023.

60 Details of Benami Property Held

No proceedings have been initiated or pending against the Company for holding any benami property under the Benami Transactions (Prohibition) Act, 1988 (45 of 1988) and rules made thereunder in the financial years ended March 31, 2024 and March 31,2023.

61 Wilful Defaulter

The Company has not been declared as a wilful defaulter by any bank or financial institution or other lender in the financial years ended March 31,2024 and March 31,2023.

62 Relationship with Struck off Companies

The Company has no transactions with companies whose names have been struck off under section 248 of Companies Act, 2013 or section 560 of Companies Act, 1956 in the financial years ended March 31, 2024 and March 31, 2023.

63 The Reserve Bank of India, under Scale Based Regulations (SBR) has categorised the Company in Base Layer (NBFC-BL) vide its circular dated September 30, 2022. So, the company is not required to disclose their CRAR, tier I CRAR, tier II CRAR and liquidity ratio as a part of their balance sheet.

64 Registration of charges or satisfaction with Registrar of Companies (ROC)

The Company has no borrowings from Banks and Financial institutions during the financial year. So, charges or satisfaction to be registered with ROC within the statutory period for the financial years ended March 31, 2024 and March 31,2023 are not applicable.

65 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 for the financial years ended March 31, 2024 and March 31,2023.

66 Utilisation of Borrowed funds and share premium

The Company, as part of its normal business, grants loans and advances, makes investment and borrowings from its customers, other entities and persons. These transactions are part of Company’s normal nonbanking finance business, which is conducted ensuring adherence to all regulatory requirements. Other than the transactions described above, 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 persons or entities, including foreign entities (“Intermediaries”) with the understanding, whether recorded in writing or otherwise, thatthe Intermediary shall lend or invest in party identified by or on behalf ofthe Company (Ultimate Beneficiaries). The Company has also not received any fund from any parties (Funding Party) with the understanding thatthe Company shall whether, directly or indirectly lend or invest in other persons or entities identified by or on behalfof the Funding Party (“Ultimate Beneficiaries”) or provide any guarantee, security or the like on behalf of the Ultimate Beneficiaries.

67 Undisclosed income

There are no transactions not recorded in the books of accounts.

68 Events after reporting date

There have been no events after the reporting date.

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Mar 31, 2023

3.11 Provisions and contingent liabilities

The Company creates a provision when there is present obligation as a result of a past event that probably requires an outflow of resources and a reliable estimate can be made of the amount of the obligation.

A disclosure for a contingent liability is made when there is a possible obligation or a present obligation that may, but probably will not, require an outflow of resources. The Company also discloses present obligations for which a reliable estimate cannot be made. When there is a possible obligation or a present obligation in respect of which the likelihood of outflow of resources is remote, no provision or disclosure is made.

3.12 Retirement Benefits

All employee benefits payable wholly within twelve months of rendering service are classified as short-term employee benefits. Benefits such as salaries, allowances, short-term compensated absences and the expected cost of other benefits is recognized in the period in which the employee renders the related services.

3.13 Leases

With effect from 1 April 2019, the Company has applied Ind AS 116 ''Leases'' for all long term and material lease contracts covered by the Ind AS. The Company has adopted modified retrospective approach as stated in Ind AS 116 for all applicable leases on the date of adoption.

Measurement of Lease Liability

At the time of initial recognition, the Company measures lease liability as present value of all lease payments discounted using the Company''s incremental cost of borrowing and directly attributable costs. Subsequently, the lease liability is

(i) increased by interest on lease liability;

(ii) reduced by lease payments made; and

(iii) remeasured to reflect any reassessment or lease modifications specified in Ind AS 116 ''Leases'', or to reflect revised fixed lease payments.

Measurement of Right-of-use assets

At the time of initial recognition, the Company measures ''Right-of-use assets'' as present value of all lease payments discounted Depreciation on ''Right-of-use assets'' is provided on straight line basis over the lease period.

The exception permitted in Ind AS 116 for low value assets and short term leases has been adopted by Company.

3.14 Earning per Share

In determining basic earning per share, the company considers the net profits attributable to equity shareholders. The number of shares used in computing basic earning per share is the weighted average number of share outstanding during the period. In determining diluted earnings per share, the net profit attributable to equity shareholders and weighted average number of shares outstanding during the period are adjusted for the effect of all dilutive potential equity shares.

3.15 Fair value measurement

The Company measures its qualifying financial instruments at fair value on each Balance Sheet date.

Fair value is the price that would be received against sale of an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. The fair value measurement is based on the presumption that the transaction to sell the asset or transfer the liability takes place in the accessible principal market or the most advantageous accessible market as applicable.

The Company uses valuation techniques that are appropriate in the circumstances and for which sufficient data is available to measure fair value, maximising the use of relevant observable inputs and minimising the use of unobservable inputs.

All assets and liabilities for which fair value is measured or disclosed in the financial statements are categorised within the fair value hierarchy into Level I, Level II and Level III based on the lowest level input that is significant to the fair value measurement as a whole. For a detailed information on the fair value hierarchy, refer note no. 47 and 48.

For assets and liabilities that are fair valued in the financial statements on a recurring basis, the Company determines whether transfers have occurred between levels in the hierarchy by re-assessing categorisation (based on the lowest level input that is significant to the fair value measurement as a whole) at the end of each reporting period.

For the purpose of fair value disclosures, the Company has determined classes of assets and liabilities on the basis of the nature, characteristics and risks of the asset or liability and the level of the fair value hierarchy.

33 Provision for retirement benefits under the Payment of Gratuity Act and Provident Fund Act have not been made as the said act are not applicable to the company on account of the company having less than the required number of employees.

34 Contingent Liability - Rs. Nil (Previous Year Rs. Nil).

35 The company has filed legal suits against 5 customers for recovery of Loan and advances amounting to Rs. 11.47 crores (Previous year Rs. 11.47 crores).

Since the above loans and advances are fully secured, the company does not foresee any liability against it. The required provision on the aforesaid loans and advances has been made in the books of account as on 31 st March'' 2023 as per RBI guidelines.

36 Estimated amount of contracts remaining to be executed on capital account Rs. Nil (Previous Year Rs. Nil).

37 SEGMENT REPORTING

Ind AS - 108 on ‘Segment Reporting'' became applicable during the current year. The Company is engaged in financing by way of loans and sale of property. The Company does not have any reportable geographic segment. The Revenues profit and assets from the reportable business segment in terms of Ind AS - 108 on ‘Segment Reporting'' as notified by the Companies (Accounting Standards) Rules 2006 are as given below:

48 Title deeds of Immovable Properties not held in name of the Company

The Company does not possess any immovable property (other than properties where the Company is the lessee and the lease agreements are duly executed in favour of the lessee) whose title deeds are not

49 Details of Crypto Currency or Virtual Currency

The Company has not traded or invested in Crypto currency or Virtual currency during the financial years ended March 31, 2023 and March 31, 2022.

50 Details of Benami Property Held

No proceedings have been initiated or pending against the Company for holding any benami property under the Benami Transactions (Prohibition) Act, 1988 (45 of 1988) and rules made thereunder in the

51 Wilful Defaulter

The Company has not been declared as a wilful defaulter by any bank or financial institution or other lender in the financial years ended March 31, 2023 and March 31, 2022.

52 Relationship with Struck off Companies

The Company has no transactions with companies whose names have been struck off under section 248 of Companies Act, 2013 or section 560 of Companies Act, 1956 in the financial years ended March 31,

53 The Reserve Bank of India, under Scale Based Regulations (SBR) has categorised the Company in Base Layer (NBFC-BL) vide its circular dated September 30, 2022. So, the company is not required to disclose their CRAR, tier I CRAR, tier II CRAR and liquidity ratio as a part of their balance sheet.

54 Registration of charges or satisfaction with Registrar of Companies (ROC)

The Company has no borrowings from Banks and Financial institutions during the financial year. So, charges or satisfaction to be registered with ROC within the statutory period for the financial years ended March 31, 2023 and March 31, 2022 are not applicable.

55 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 for the financial years ended March 31, 2023 and March 31, 2022.

56 Utilisation of Borrowed funds and share premium

The Company, as part of its normal business, grants loans and advances, makes investment and borrowings from its customers, other entities and persons. These transactions are part of Company’s normal

57 Undisclosed income

There are no transactions not recorded in the books of accounts.

58 Events after reporting date

There have been no events after the reporting date.

For Agarwal & Dhandhania For and on behalf of the Board of Directors

Chartered Accountants Acme Resources Limited

Firm''s registration no. : 125756W

Alok Dhandhania Kuldeep Saluja Vivek Chaturvedi

Partner Director Managing Director

Membership No. 111062 DIN No. 00289187 DIN No. 08027097

Kailash Jha Amanpreet Kaur

Place : New Delhi Chief Financial Officer Company Secretary

Date : May 29, 2023_PAN No. AMAPJ6908Q_PAN No. DZOPK5565A

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Mar 31, 2018

The rights preferences and restrictions attaching to equity shares and the repayment of capital is as under:

The Company has only one class of Equity Shares having a par value of Rs.10/- each. Each holder of Equity Shares is entitled to one vote per share. In the event of liquidation of the company the holders of Equity Shares will 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 Provision for retirement benefits under the Payment of Gratuity Act and Provident Fund Act have not been made as the said act are not applicable to the company on account of the company having less than the required number of employees.

2 Contingent Liability - Rs. Nil (Previous Year Rs. Nil).

3 The company has filed legal suits against 5 customers for recovery of Loan and advances amounting to Rs. 11.45 crores (Previous year Rs. 11.45 crores). Since the loans and advances are fully secured, the company does not foresee any liability against it. The required provision on the aforesaid loans and advances has been made in the books of account as on 31st March’ 2018 as per RBI guidelines.

4 Estimated amount of contracts remaining to be executed on capital account Rs. Nil (Previous Year Rs. Nil).

5 SEGMENT REPORTING

Accounting Standard 17 on ‘Segment Reporting’ became applicable during the current year. The Company is engaged in financing by way of loans and sale of property. The Company does not have any reportable geographic segment. The Revenues profit and assets from the reportable business segment in terms of Accounting Standard 17 on ‘Segment Reporting’ as notified by the Companies (Accounting Standards) Rules 2006 are as given below:

6 DISCLOSURE AS PER ACCOUNTING STANDARDS-18 “RELATED PARTY DISCLOSURE”

As per AS-18 issued by the Institute of Chartered Accountants of India the following are related parties:

Key Managerial Personnel

Mr. Sharad Saluja Managing Director

Mr. Kuldeep Saluja Director & Relative of Mr. Sharad Saluja

Subsidiary Company

Atul Agro Pvt. Limited OJAS Suppliers Limited

Associate Company

Vardhman Business Ventures Limited

Companies/Persons in which Key Management Personnel and Relatives of Key Managerial Personnel have control:

Name of the Company:

Sterling Agro Industries Ltd.

Narayani Dealers Pvt. Ltd.

V. M. Estate Pvt. Ltd.

Kailashwati Buildcon Pvt. Ltd Vinay Packaging (India) Pvt. Ltd Kesar Builders Pvt. Ltd.

VRS Estate Pvt. Ltd.

Vinay Homes Pvt. Ltd.

VM Real Estates Pvt. Ltd.

Rajindra Hire Purchase & Leasing Co. Pvt. Ltd.

Vinay Real Estate Pvt. Ltd.

Mrs. Raman Saluja (Wife of Mr. Kuldeep Saluja) (w.e.f. 20.07.2017)

The company has entered into the following related party transactions. Such parties and transactions have been identified as per Accounting Standard 18 “Related Party Disclosures’ issued by the Institute of Chartered Accountants of India.

7 As per Section 135 of the Companies Act 2013 the Company is required to spend in every financial year at least two per cent of the average net profits of the company made during the three immediately preceding financial years on corporate social responsibility (CSR) activities. Accordingly the company was required to spend Rs 64.57 lacs (including Rs 47.01 lacs in respect of financial year 2014-15, 15-16 and 16-17) during the current financial year. The Company is in the process of undertaking projects related to CSR. The CSR committee has been examining and evaluating suitable projects for deployment of funds. During the current year, the company has contributed the following sums towards CSR initiatives.

8 Sundry debtors and Loans and Advances have value on realization in the ordinary course of business at least equal to the amount at which they are stated in the financial statement.

9 Debit and Credit Balances outstanding in the accounts of some of the parties are subject to confirmation/reconciliation.

10 Amount due to Micro Small and medium Enterprises.

There are no Micro and Small Scale Business Enterprises to whom the company owes dues which are outstanding for more than 45 days as at March 31st 2018. This information as required to be disclosed under the Micro Small and Medium Enterprises Development Act 2006 has been determined to the extent such parties have been identified on the basis of information available with the company. Therefore the prescribed disclosures for liability of interest on overdue payment have not been given.

11 Previous year figures

Figures of the previous year have been regrouped /reclassified wherever considered necessary to confirm to current year classification.

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Mar 31, 2016

* Term loans from bank carries interest @ 12.60 p.a. The loan is repayable in 180 monthly installments with interest from the date of loan. The loan is secured against hypothecation of inventory of properties of company (Rs. 7,31,36,000). Unsecured Loans are secured through Director''s relative''s properties’ (Rs. 2,89,56,000), associate company''s properties (Rs. 12,90,00,000) and third person (associated through group companies) properties (Rs. 9,00,00,000). During the year, pre-payments has been done for all term loans from bank and no outstanding balance has been exist against term loans.

1. Provision for retirement benefits have not been made under the relevant Acts, i.e. Gratuity Act, P.F. Act are not applicable to the company as company has less than the required number of employees.

2. Contingent Liability not provided for Rs. Nil (Previous Year Rs. Nil).

3. The company has filed a legal suit against one of its customers for recovery of Loan amounts of Rs. 4.30 crores. Since the loan is fully secured, the company does not foresee any liability against it and provision on the loan amount has been already made in books as per RBI guidelines.

4. Estimated amount of contracts remaining to be executed on capital account Rs. Nil (Previous Year Rs. Nil).

5. SEGMENT REPORTING

Accounting Standard 17 on ‘Segment Reporting’ became applicable during the current year. The Company is engaged in financing by way of

As per AS-18 issued by the Institute of Chartered Accountants of India, the following are related parties:

Key Managerial Personnel

Sharad Saluja Managing Director

Kuldeep Saluja Director & Relative of Mr. Sharad Saluja

Subsidiary Company

Atul Agro Pvt. Limited OJAS Suppliers Limited MPS Structures Private Limited

Associate Company

Vardhman Business Ventures Limited

Companies in which Key Management Personnel and Relatives of Key Managerial Personnel have control:

Name of the Company:

Sterling Agro Industries Ltd.

Narayani Dealers Pvt. Ltd.

V. M. Estate Pvt. Ltd.

Kailashwati Buildcon Pvt. Ltd Vinay Packaging (India) Pvt. Ltd Kesar Builders Pvt. Ltd.

VRS Estate Pvt. Ltd.

Vinay Homes Pvt. Ltd.

VM Real Estates Pvt. Ltd.

Rajindra Hire Purchase & Leasing Co. Pvt. Ltd.

The company has entered into the following related party transactions. Such parties and transactions have been identified as per Accounting Standard 18 “Related Party Disclosures'' issued by the Institute of Chartered Accountants of India.

6. As per Section 135 of the Companies Act, 2013, the Company is required to spend, in every financial year, at least two per cent of the average net profits of the Company made during the three immediately preceding financial years on corporate social responsibility (CSR) activities.

Accordingly the company was required to spend Rs 46.32 Lacs (including Rs 23.11 lacs in respect of financial year 2014-15) during the current financial year. However, the company has not made any expenditure in respect of CSR. The Company is in the process of undertaking projects related to CSR.

7. Sundry debtors and Loans and Advances have value on realization in the ordinary course of business at least equal to the amount at which they are stated in the financial statement.

8. Debit and Credit Balances outstanding in the accounts of some of the parties are subject to confirmation/reconciliation.

9. Amount due to Micro, Small and medium Enterprises.

There are no Micro and Small Scale Business Enterprises to whom the company owes dues, which are outstanding for more than 45 days as at March 31^st 2016. This information as required to be disclosed under the Micro, Small and Medium Enterprises Development Act, 2006 has been determined to the extent such parties have been identified on the basis of information available with the company. Therefore, the prescribed disclosures for liability of interest on overdue payment have not been given.

10. Previous year figures

Figures of the previous year have been regrouped /reclassified wherever considered necessary to confirm to current year classification.

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Mar 31, 2015

The rights, preferences and restrictions attaching to equity shares and the repayment of capital is as under:

The Company has only one class of Equity Shares having a par value of Rs.10/- each. Each holder of Equity Shares is entitled to one vote per share. In the event of liquidation of the company, the holders of Equity Shares will 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.

* Term loans from bank carries interest @ 12.60 p.a. The loan is repayable in 180 monthly installments with interest from the date of loan. The loan is secured against hypothecation of inventory of properties of company (Rs. 7,31,36,000). Unsecured Loans are secured through Director's relative propertie's (Rs. 2,89,56,000), associate company's properties (Rs. 12,90,00,000) and third person (associated through group companies) properties (Rs. 9,00,00,000).

1. Provision for retirement benefits have not been made under the relevant Acts, i.e. Gratuity Act, P.F. Act are not applicable to the company as company has less than the required number of employees.

2. Contingent Liability not provided for Rs. Nil (Previous Year Rs. Nil).

3. The company has filed a legal suit against one of its customers for recovery of Loan amounts of Rs. 2.30 crores. Since the loan is fully secured, the company does not foresee any liability against it.

4. Estimated amount of contracts remaining to be executed on capital account Rs. Nil (Previous Year Rs. Nil).

5. SEGMENT REPORTING

Accounting Standard 17 on 'Segment Reporting' became applicable during the current year. The Company is engaged in financing by way of

6. RELATED PARTY DISCLOSURES

As per AS-18 issued by the Institute of Chartered Accountants of India, the following are related parties:

Key Managerial Personnel Sharad Saluja Managing Director Kuldeep Saluja Director & Relative of Mr. Sharad Saluja

Subsidiary Company

Atul Agro Pvt. Limited OJAS Suppliers Limited MPS Structures Private Limited

Associate Company

Vardhman Business Ventures Limited

Companies in which Key Management Personnel and Relatives of Key Managerial Personnel have control:

Name of the Company:

Sterling Agro Industries Ltd. Narayani Dealers Pvt. Ltd. V. M. Estate Pvt. Ltd. Kailashwati Buildcon Pvt. Ltd Vinay Packaging (India) Pvt. Ltd Kesar Builders Pvt. Ltd. VRS Estate Pvt. Ltd. Vinay Homes Pvt. Ltd. VM Real Estates Pvt. Ltd. Rajindra Hire Purchase & Leasing Co. Pvt. Ltd.

7. Sundry debtors and Loans and Advances have value on realization in the ordinary course of business at least equal to the amount at which they are stated in the financial statement.

8. Debit and Credit Balances outstanding in the accounts of some of the parties are subject to confirmation/reconciliation.

9. Amount due to Micro, Small and medium Enterprises.

There are no Micro and Small Scale Business Enterprises to whom the company owesdues, which are outstanding for more then 45 days as at March 31st 2015. This information as required to be disclosed under the Micro, Small and Medium Enterprises Development Act, 2006 has been determined to the extent such parties have been identified on the basis of information available with the company. Therefore, the prescribed disclosures for liability of interest on overdue payment have not been given.

10. Previous year figures

Figures of the previous year have been regrouped /reclassified wherever considered necessary to confirm to current year classification.

11. Schedule to the Balance Sheet of a Non-Banking Financial Company as required by RBI as per their Circular RBI/ 2008-09/ 116 DNBS(PD).CC. No.125/ 03.05.002/ 2008-2009, Guidelines for NBFC-ND-SI as regards capital adequacy, liquidity and disclosure norms:

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Mar 31, 2014

The rights, preferences and restrictions attaching to equity shares and the repayment of capital is as under:

The Company has only one class of Equity Shares having a par value of Rs.10/- each. Each holder of Equity Shares is entitled to one vote per share. In the event of liquidation of the company , the holders of Equity Shares will 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.

Details of shares held by the shareholders holding more than 5% of the aggregate shares in the Company.

1. Provision for retirement benefits have not been made under the relevant Acts, i.e. Gratuity Act, P.F. Act are not applicable to the company as company has less than the required number of employees.

2. Contingent Liability not provided for Rs. Nil (Previous Year Rs. Nil).

3. Estimated amount of contracts remaining to be executed on capital account Rs. Nil (Previous Year Rs. Nil).

4. SEGMENT REPORTING

Accounting Standard 17 on 'Segment Reporting' became applicable during the current year. The Company is engaged in financing by

5. RELATED PARTY DISCLOSURES

As per AS-18 issued by the Institute of Chartered Accountants of India, the following are related parties:

Key Managerial Personnel Sharad Saluja Managing Director Kuldeep Saluja Director & Relative of Mr. Sharad Saluja

Subsidiary Company Atul Agro Pvt. Limited OJAS Suppliers Limited MPS Structures Private Limited

Companies in which Key Management Personnel and Relatives of Key Managerial Personnel have control:

Name of the Company: Sterling Agro Industries Ltd. Narayani Dealers Pvt. Ltd. V. M. Estate Pvt. Ltd. Kailashwati Buildcon Pvt. Ltd Vinay Packaging (India) Pvt. Ltd Kesar Builders Pvt. Ltd. Vinay Homes Pvt. Ltd. VM Real Estates Pvt. Ltd. Rajindra Hire Purchase & Leasing Co. Pvt. Ltd.

The company has entered into the following related party transactions. Such parties and transactions have been identified as per Accounting Standard 18 "Related Party Disclosures' issued by the Institute of Chartered Accountants of India.

6. Sundry debtors and Loans and Advances have a value on realization in the ordinary course of business at least equal to the amount at which they are stated in the financial statement.

7. Debit and Credit Balances outstanding in the accounts of some of the parties are subject to confirmation/reconciliation.

8. Amount due to Micro, Small and medium Enterprises.

There are no Micro and Small Scale Business Enterprises to whom the company owesdues, which are outstanding for more then 45 days as at March 31st 2014. This information as required to be disclosed under the Micro , Small and Medium Enterprises Development Act, 2006 has been determined to the extent such parties have been identified on the basis of information available with the company. Therefore, the prescribed disclosures for liability of interest on overdue payment have not been given.

9. Previous year figures

Figures of the previous year have been regrouped /reclassified wherever considered necessary to conform to current year classification.

10. Schedule to the Balance Sheet of a Non-Banking Financial Company as required by RBI as per their Circular RBI/ 2008-09/ 116 DNBS(PD).CC. No.125/ 03.05.002/ 2008-2009, Guidelines for NBFC-ND-SI as regards capital adequacy, liquidity and disclosure norms:

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Mar 31, 2013

The rights, preferences and restrictions attaching to equity shares and the repayment of capital is as under:

The Company has only one class of Equity Shares having a par value of Rs.10/- each. Each holder of Equity Shares is entitled to one vote per share. In the event of liquidation of the company, the holders of Equity Shares will 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. Provision for retirement benefits have not been made under the relevant Acts, i.e. Gratuity Act, P.F. Act are not applicable to the company as company has less than the required number of employees.

2. Contingent Liability not provided for Rs. Nil (Previous Year Rs. Nil).

3. Estimated amount of contracts remaining to be executed on capital account Rs. Nil (Previous Year Rs. Nil).

4. SEGMENT REPORTING

Accounting Standard 17 on 'Segment Reporting' became applicable during the current year. The Company is engaged in financing by way of loans and sale of property. The Company does not have any reportable geographic segment. The Revenues, profit and assets from the reportable business segment in terms of Accounting Standard 17 on 'Segment Reporting' as notified by the Companies (Accounting Standards) Rules, 2006 are as given below:

5. RELATED PARTY DISCLOSURES

As per AS-18 issued by the Institute of Chartered Accountants of India, the following are related parties:

Key Managerial Personnel

Sharad Saluja Managing Director Kuldeep Saluja Director & Relative of Mr. Sharad Saluja

Subsidiary Company Atul Agro Pvt. Limited OJAS Suppliers Limited

Companies in which Key Management Personnel and Relatives of Key Managerial Personnel have control:

Name of the Company: Sterling Agro Industries Ltd. Narayani Dealers Pvt. Ltd. V. M. Estate Pvt. Ltd. Kailashwati Buildcon Pvt. Ltd Vinay Packaging (India) Pvt. Ltd Kesar Builders Pvt. Ltd. VRS Estate Pvt. Ltd.

The company has entered into the following related party transactions. Such parties and transactions have been identified as per Accounting Standard 18 "Related Party Disclosures' issued by the Institute of Chartered Accountants of India.

6. Sundry debtors and Loans and Advances have value on realization in the ordinary course of business at least equal to the amount at which they are stated in the financial statement.

7. Debit and Credit Balances outstanding in the accounts of some of the parties are subject to confirmation/reconciliation.

8. Amount due to Micro, Small and medium Enterprises.

There are no Micro and Small Scale Business Enterprises to whom the company owesdues, which are outstanding for more than 45 days as at March 31st 2013. This information as required to be disclosed under the Micro, Small and Medium Enterprises Development Act, 2006 has been determined to the extent such parties have been identified on the basis of information available with the company. Therefore, the prescribed disclosures for liability of interest on overdue payment have not been given.

9. Previous year figures

Figures of the previous year have been regrouped / reclassified wherever considered necessary to confirm to current year classification.