Notes to Accounts of Atharv Enterprises Ltd.

Mar 31, 2024

F. Provisions and contingencies

A provision is recognized when the Company has a present obligation as a result of past events and it is probable that
an outflow of resources will be required to settle the obligation in respect of which a reliable estimate can be made.
Provisions (excluding retirement benefits) are not discounted to their present value and are determined based on the
best estimate required to settle the obligation at the Balance Sheet date. These are reviewed at each Balance Sheet
date and adjusted to reflect the current best estimates.

The Company creates a provision when there is a present obligation as a result of past event that probably requires
and outflows of resources and a reliable estimate can be made of the amount of obligation. A disclosure of contingent
liability is made when there is possible obligation or a present obligation that will probably not require outflow of
resources or where a reliable estimate of obligation cannot be made.

G. Taxes on income

Income tax comprises current and deferred income tax. Income tax expense is recognized directly in equity or in other
comprehensive income. Provision for Current Tax is made after taking into consideration benefits admissible under the
provisions of Income Tax Act, 1961.

H. Earnings per share

Basic earnings per share is computed by dividing the profit / (loss) after tax (including the post tax effect of
extraordinary items, if any) by the weighted average number of equity shares outstanding during the year. Diluted
earnings per share is computed by dividing the profit / (loss) after tax (including the post tax effect of extraordinary
items, if any) as adjusted for dividend, interest and other charges to expense or income relating to the dilutive potential
equity shares, by the weighted average number of equity shares considered for deriving basic earnings per share and
the weighted average number of equity shares which could have been issued on the conversion of all dilutive potential

equity shares. Potential equity shares are deemed to be dilutive only if their conversion to equity shares would
decrease the net profit per share from continuing ordinary operations.

I. Cash Flow Statements

Cash Flow Statement has been prepared in accordance with Accounting Standard 3 issued by Institute of Chartered
Accountants of India.

J. Segment Reporting

The Company operates in a single segment and there are no separate reportable segments as defined in Accounting
Standard, AS-17.

Note: "Previous Year''s figure have been regrouped rearranged wherever considered necessary"

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Mar 31, 2016

(B) NOTES FARMING PART OF THE ACCOUNTS

In the opinion of the Board the current assets loans and advances are approximately of the value state course of the business the provision for all known liabilities is adequate and no in excess of the amount considered reasonably necessary.

Contingent Liabilities not provided for : Liability towards vat for Financial I Year 2010-11 Rs.3,26,479. (Previous Year: NIL)

1, Thereisnoiiabilityinrespectofretirementbenefttsa5or31.03.2016

2, Auditor''s Remuneration

3. DEFERRED TAX

]n view of the uncertainty attached with the future profitability of the Company and lack of evidence that sufficient until re taxable income would be available, company has decided not to recognize any Deferred Tax Asset in respect at the timing differences outstanding at the beginning of the year as well as those arisen during the year.

NOTE: Name of related parties and description of relationship:

4. Associates

Aman Shree Trading and Real Estate Private Limited

5. Key Management Personnel

Mr JagdishchandraGadia (Managing Director)

Mr, Deepak Mandowara {Executive Director)

Mr. Arjim Mundra (Independent Director)

Mr. KaushaLAmeta (Independent Director)

Mr. Ravi Gupa (Independent Director)

II. Segment Information

The company has identified three reportable segments viz. trading in cloth, investments and finance. Segments have been identified and reported taking into account nature of products and services , the differing risks and returns and the internal business reporting system. Tine accounting policies adopted for segment reporting are in Line with the accounting policy of the company with following additional policies for segment reporting.

a. Revenue and expenses have been identified to a segment on the basis of relationship to operating activities of the segment, revenue and expenses which relate to enterprise as a whole and are not allocable to a segment on reasonable basis have been disclosed as "unallowable”

b. Segment assets and segment liabilities represent assets and liabilities to respective segments, investments, tax related assets and other assets and liabilities that cannot be allocated to a segment on reasonable basis have been disclosed sun allocable.

c. Other Segment include business segments which are not reportable which consists of sale of other assets

6. Based on the information available with the company, no creditors have been identified

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Mar 31, 2014

1. In the opinion of the Board, the current assets, loans and advances are approximately of the value stated if realized in the ordinary course of the business, the provision for all known liabilities is adequate and no in excess of the amount considered reasonably necessary.

2. Contingent Liabilities not provided for : Nil. (Previous Year :NIL)

3. There is no liability in respect of retirement benefits as on 31.03.2014.

4. DEFERRED TAX

In view of the uncertainty attached with the future profitability of the Company and lack of any convincing evidence that sufficient future taxable income would be available, company has decided not to recognize any Deferred Tax Asset in respect of the timing differences outstanding at the beginning of the year as well as those arisen during the year.

However the company has recognized the Deferred Tax Liability in respect of Depreciation excess charged in the Income tax:

5. Figures of the previous year have been regrouped rearranged and recast wherever necessary, to make them comparable with the figures or the current year.

6. Expenditure in Foreign Currency – NIL (Previous year Rs. NIL/-)

NOTE : Name of related parties and description of relationship :

1. Associates :-

Aman Shree Trading and Real Estate Private Limited

2. Key Management Personnel :-

Mr. Jagdishchandra Gadia (Managing Director) Mr. Deepak Mandowara (Executive Director) Mr. Arjun Mundra (Independent Director) Mr. Kaushal Ameta (Independent Director) Mr. Ravi Gupa ( Independent Director)

7. Segment Information

The company has identified three reportable segments viz. trading in cloth, investments and finance. Segments have been identified and reported taking into account nature of products and services , the differing risks and returns and the internal business reporting system. The accounting policies adopted for segment reporting are in line with the accounting policy of the company with following additional policies for segment reporting .

a. Revenue and expenses have been identified to a segment on the basis of relationship to operating activities of the segment, revenue and expenses which relate to enterprise as a whole and are not allocable to a segment on reasonable basis have been disclosed as "unallocable"

b. Segment assets and segment liabilities represent assets and liabilities to respective segments, investments, tax related assets and other assets and liabilities that cannot be allocated to a segment on reasonable basis have been disclosed as "unallocable".

c. Other Segment include business segments which are not reportable which consists of sale of other assets.

8. Based on the information available with the company, no creditors have been identified as "supplier" within the meaning of "Micro, Small and Medium Enterprises Development (MSMED) Act, 2006."

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Mar 31, 2013

1. In the opinion of the Board, the current assets, loans and advances are approximately of the value stated if realized in the ordinary course of the business, the provision for all known liabilities is adequate and no in excess of the amount considered reasonably necessary.

2. Contingent Liabilities not provided for : Nil. (Previous Year :NIL)

3. There Is no liability in respect of retirement benefits as on 31.03,2013.

4. DEFERRED TAX

In view of the uncertainty attached with the future profitability of the Company and lack of any convincing evidence that sufficient future taxable income would be available, company has decided notto recognize any Deferred Tax Asset in respect of the timing differences outstanding at the beginning of the yearaswellasthosearisenduring the year.

However the company has recognized the Deferred Tax Liability in respect of Depreciation excess charged in the Income tax:

5. Figures of the previous year have been regrouped rearranged and recast wherever necessary, to make them comparable with the figures orthe current year.

6. Expenditure in Foreign Currency-NIL {Previous year Rs-NIL/-) ,

7. Segment Information

The company has identified five reportable segments viz. trading in yam, trading in electrical items, trading in cloth, investments and finance. Segments have been identified and reported taking into account nature of products and services, the differing risks and returns and the internal business reporting system. The accounting policies adopted for segment reporting are in line with the accounting policy of the company witJi following additional policies forsegment reporting.

a. Revenue and expenses have been identified to a segment on the basis of relationship to operating activities of the segment, revenue and expenses which relate to enterprise as a whole and are not allocable to a segment on reasonable i basis have been disclosed as "unallocable''''

b. Segment assets and segment liabilities represent assets and liabilities to respective segments, investments, tax related assets and other assets and liabilities that cannot be allocated to a segment on reasonable basis have been disclosed as "unallocable".

c. Other Segment include business segments which are not reportable which consists of sale of other assets.

8. Based on the information available with the company, no creditors have been identified as "supplier" within the meaning of''Micro, Small and Medium Enterprises Development (MSMED) Act, 2006."

9. Particulars of Loans and Advances and investment in its own shares by listed companies, their subsidiaries, associates etc required to be disclosed in the annual accounts of the Company pursuantto Clause 32 of the Listing Agreement

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Mar 31, 2012

1. In the opinion of the Board, the current assets, loans and advances are approximately of the value stated if realized in the ordinary course of the business, the provision for all known liabilities is adequate and no in excess of the amount considered reasonably necessary.

2. Contingent Liabilities not provided for : Nil. (Previous Year :NIL)

3. There is no liability in respect of retirement benefits as on 31.03.2012.

4. DEFERRED TAX

In view of the uncertainty attached with the future profitability of the Company and lack of any convincing evidence that sufficient future taxable income would be available, company has decided not to recognize any Deferred Tax Asset in respect of the timing differences outstanding at the beginning of the year as well as those arisen during the year.

However the company has recognized the Deferred Tax Liability in respect of Depreciation excess charged in the Income tax:

6. Figures of the previous year have been regrouped rearranged and recast wherever necessary, to make them comparable with the figures or the current year.

7. Expenditure in Foreign Currency- NIL (Previous year Rs. NIL/-)

NOTE: Name of related parties and description of relationship:

1. Associates :-

Atharv Agencies Private Limited

Jai Mining Corporation

Green Fuel Tech

Sunchemie Industries Private Limited,

Sri Lanka

Atharv Mines Pvt Ltd

2. Key Management Personnel :-

Mr. Jagdishchandra Gadia (Managing Director)

Mr. Nitten R.Jaju (Director)

3. Relatives of Key Management personnel

Miss. Rhea Nitten Jaju

(Daughter of Director)

Mrs. Ritu N Jaju (Wife of Nitten Jaju)

Mrs. Pooja Jaju (Wife of Bippin Jaju)

Mr. Bippin Jaju (Brother of Nitten Jaju)

Mr. Ramswarup Jaju

(Father of Mr Nitten Jaju)

Mrs. Sushila R. Jaju

(Mother Mr. Nitten Jaju)

8. Segment Information

The company has identified four reportable segments viz. trading in yarn, trading in electrical items, investments and finance. Segments have been identified and reported taking into account nature of products and services, the differing risks and returns and the internal business reporting system. The accounting policies adopted for segment reporting are in line with the accounting policy of the company with following additional policies for segment reporting.

a. Revenue and expenses have been identified to a segment on the basis of relationship to operating activities of the segment, revenue and expenses which relate to enterprise as a whole and are not allocable to a segment on reasonable basis have been disclosed as "unallocable"

b. Segment assets and segment liabilities represent assets and liabilities to respective segments, investments, tax related assets and other assets and liabilities that cannot be allocated to a segment on reasonable basis have been disclosed as "unallocable".

c. Other Segment include business segments which are not reportable which consists of sale of other assets.

9. Based on the information available with the company, no creditors have been identified as "supplier" within the meaning of "Micro, Small and Medium Enterprises Development (MSMED) Act, 2006."

10. Particulars of Loans and Advances and investment in its own shares by listed companies, their subsidiaries, associates etc required to be disclosed in the annual accounts of the Company pursuant to Clause 32 of the Listing Agreement.

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Mar 31, 2010

1. In the opinion of the Board, the current assets, loans and advances are approximately of the value stated if realized in the ordinary course of the business, the provision for all known liabilities is adequate and no in excess of the amount considered reasonably necessary.

2. Contingent Liabilities not provided for Rs.50.00 Lakhs in Respect of contracts remaining to be executed. (Previous Year : NIL)

3. There is no liability in respect of respect of retirement benefits as on 31.03.2010.

4. The company has entered into an MOU with M/s Patil Minerals, a proprietary concern securing mining rights of silica sand subject to approval from Government Authorities. Advances to the extent of Rs.31.50 Lakhs and expenses incurred to the extent of Rs.6,18,426 paid in terms of the MOU to Ml s Patil Minerals, being adjustable against the mining usage charges payable to them after commencement of mining of silica sand have been stated under loans and advances. Advances paid directly to M/s Patil Minerals by others in terms of the MOU have not been recorded in the books of the company. The amounts unpaid as at 31.03.2010 under the MOU have been treated as contingent liability.

5. Auditors Remuneration

Current Year Rs. Previous Year Rs.

Audit fees 15,000.00 25,000.00

Income Tax Matters 5,000.00 5,000.00

Internal Audit Fees 13,000.00

Total 33,000.00 30,000.00

(Excluding Service Tax Payable there on)

6. DEFERRED TAX

In view of the uncertainty attached with the future profitability of the Company and lack of any convincing evidence that sufficient future taxable income would be available, company has decided not to recognise any Deferred Tax Asset in respect of the timing differences outstanding at the beginning of the year as well as those arisen during the year.

However the company has recognized the Deferred Tax Liability in respect of Depreciation excess charged in the Income tax :

The position of 2009-2010 2008-2009

deferred Taxes is as under

Deferred Tax Liability 20,668 81,236

In respect of

fixed assets

20,668 81.236

7. EARNING PER SHARE

i. Profit After Tax Rs.13,22,318/-

ii. The weighted average number

Of equity shares of Rs.10 each

Total Number of Shares 30,46,500

iii. Earning per share ( Basic) Rs. 0,43

8. Figures of the previous year have been regrouped rearranged and recast wherever necessary, to make them comparable with the figures or the currert year.

9. Expenditure in Foreign Currency - NIL

( Previous year Rs.NIL/-)

NOTE : Name of related parties and description of relationship :

1. Associates :-

Shubham Electrosteels Pvt.Ltd

Jai Enterprises

Aryann Traders

Atharv Agencies Private Limited

Jai Mining Corporation

Sunchemie

Green Fuel Tech

Sunchemie Industries Private Limited,Sri Lanka

Shubh Labh Mines

2. Key Management Personnel :-

Mrs. Ritu N Jaju

Mrs. Pooja Jaju

3. Relatives of Key Management personnel

Mr. Nitten R.Jaju ( husband of Mrs.Ritu Jaju )

Mr. Bippin Jaju (Husbandof Mrs Pooja Jaju)

Mr. Ramswarup Jaju ( Father-in-law of Mr.Bippin Jaju)

Mrs. Sushila R.Jaju ( Mother-in-law of Mr.Bippin Jaju)

Miss. Rhea Nitten Jaju (Daughter of Director)

10. Segment Information

The company has identified four reportable segments viz. trading in yarn, trading in electrical items, investments and finance. Segments have been identified and reported taking into account nature of products and services , the differing risks and returns and the internal business reporting system. The accounting policies adopted for segment reporting are in line with the accounting policy of the company with following additional policies for segment reporting .

a. Revenue and expenses have been identified to a segment on the basis of relationship to operating activities of the segment, revenue and expenses which relate to enterprise as a whole and are not allocable to a segment on reasonable basis have been disclosed as "unallocable"

b. Segment assets and segment liabilities represent assets and liabilities to respective segments, investments, tax related assets and other assets and liabilities that cannot be allocated to a segment on reasonable basis have been disclosed as "unallocable".

c. Other Segment include business segments which are not reportable which consists of sale of other assets.

11. Based on the information available with the company, no creditors have been identified as "supplier" within the meaning of "Micro, Small and Medium Enterprises Development (MSMED) Act, 2006."

12. Particulars of Loans and Advances and investment in its own shares by listed companies, their subsidiaries, associates etc required to be disclosed in the annual accounts of the Company pursuant to Clause 32 of the Listing Agreement.