Notes to Accounts of Bloom Industries Ltd.

Mar 31, 2024

m) Provisions and contingent liabilities

Provisions are recognised 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 can be reliably estimated. Provisions are not recognised for future operating losses. Provisions are
measured at the present value of management''s best estimate of the expenditure required to settle the
present obligation at the end of the reporting period. The increase in the provision due to the passage of
time is recognised as interest expense. Contingent Liabilities are disclosed in respect of possible obligations
that arise from past events but their existence will be confirmed by the occurrence or non occurrence of one
or more uncertain future events not wholly within the control of the Company or where any present
obligation cannot be measured in terms of future outflow of resources or where a reliable estimate of the
obligation cannot be made.

n) Rounding of amounts

All amounts disclosed in the financial statements and notes have been rounded off to the nearest lakhs as
per the requirement of Schedule III, unless otherwise stated.

o) Critical estimates and judgments

The preparation of financial statements requires the use of accounting estimates which, by definition, will
seldom equal and actual results. Management also needs to exercise judgement in applying the company''s
accounting policies.

This note provides an overview of the areas that involved a higher degree of judgement or complexity, and
of items which are more likely to be materially adjusted due to estimates and assumptions turning out to be
different than those originally assessed. Detailed information about each of these estimates and judgements
is included in relevant notes together with information about the basis of calculation for each affected line
item in the financial statements.

The areas involving critical estimates or judgments are:

• Estimation of current tax expense and payable

• Probable outcome of matters included under Contingent Liabilities

Estimates and judgments are continually evaluated. They are based on historical experience and other
factors, including expectations of future events that may have a financial impact on the Company and that
are believed to be reasonable under the circumstances.

Recent pronouncements

On March 24, 2021, the Ministry of Corporate Affairs (“MCA") through a notification amended Schedule III of
the Companies Act, 2013. The amendments revise Division I, II and III of Schedule III and are applicable
from April 1, 2021. Key amendments relating to Division II which relate to companies whose financial
statements are required to comply with Companies (Indian Accounting Standards) Rules 2015 are:

Balance Sheet:

• Lease liabilities should be separately disclosed under the head ‘financial liabilities’, duly distinguished as
current or non-current.

• Certain additional disclosures in the statement of changes in equity such as changes in equity share
capital due to prior period errors and restated balances at the beginning of the current reporting period.

• Specified format for disclosure of shareholding of promoters.

• Specified format for ageing schedule of trade receivables, trade payables, capital work-in-progress and
intangible asset under development.

• If a company has not used funds for the specific purpose for which it was borrowed from banks and
financial institutions, then disclosure of details of where it has been used.

• Specific disclosure under ‘additional regulatory requirement’ such as compliance with approved
schemes of arrangements, compliance with number of layers of companies, title deeds of immovable
property not held in name of company, loans and advances to promoters, directors, key managerial
personnel (KMP) and related parties, details of benami property held etc.

Statement of profit and loss:

• Additional disclosures relating to Corporate Social Responsibility (CSR), undisclosed income and crypto
or virtual currency specified under the head ‘additional information'' in the notes forming part of
standalone financial statements.

The amendments are extensive and the Company will evaluate the same to give effect to them as
required by law.

Note 22 : Financial Risk Management

The Company''s business activities expose it to a variety of financial risks, namely liquidity risk, market risks and credit
risk. The Company’s senior management has overall responsibility for the establishment and oversight of the
Company''s risk management framework. The Company''s risks are reviewed regularly to reflect changes in market
conditions and the company''s activities.

A. Market Risks

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, currency risk and other price risk, such as
equity price risk. The company is not exposed to any foreign currency risk as neither operates internationally nor has
any foreign currency transaction.

(a) Price Risk - Exposure:

The Company’s exposure to equity securities price risk arises from investments held by the Company and classified in
the balance sheet at fair value through OCI. To manage its price risk arising from investments in equity securities, the
Company diversifies its portfolio. Diversification of the portfolio is done in accordance with the limits set by the
Company.

B. Credit Risk

It is the risk that a counterparty will not meet its obligations under a financial instrument or customer contract, leading
to a financial loss. The Company is exposed to credit risk from its operating activities (primarily trade receivables).

Trade receivables • Customer credit risk is managed by each business unit subject to the Company''s established
policy, procedures and control relating to customer credit risk management.

The Company measures the expected credit loss of trade receivables and loan & advances customers wise based on
historical trend. Loss rates are based on actual credit loss experience and past trends. Based on the historical data,
adequate provision forthe loss on collection of receivables has been made.

Financial Assets are considered to be of good quality and there is no significant increase in credit risk.

C. Liquidity Risk:

Liquidity risk is the risk that the company will face in meeting its obligations associated with its financial liabilities The
company''s approach to managing liquidity is to ensure that it will have sufficient funds to meet its liabilities when due
without incurring unacceptable losses. In doing this, management considers both normal and stressed conditions. A
material and sustained shortfall in our cash flow could undermine the company''s credit rating and impair investor
confidence.

The following table shows the maturity analysis of the company''s financial (abilities based on contractually agreed
undiscounted cash flows as at the balance sheet date:

Note 23: Impact of COVID-19

The Company has considered the possible effects that may result from COVID-19 in the preparation of these
financial results including the recoverability of carrying amounts of financial and non-financial assets. In
developing the assumptions relating to the possible future uncertainties in the economic conditions because of
COVID-19, the Company has, at the date of approval of the financial results, used internal and external sources
of information and expects that the carrying amount of the assets will be recovered. The impact of COVID-19 on
the Company''s financial statements may differ from that estimated as at the date of approval of the same.

Note 24: Capital Management

For the purpose of the Company''s capital management, capital includes issued equity share capital, securities
premium and all other reserves attributable to the equity holders of the Company. The primary objective of the
Company’s capital management is to maximise the value of the share and to reduce the cost of capital.

The Company manages its capital structure and makes adjustments in light of changes in economic conditions
and the requirements of the financial covenants. To maintain or adjust the capital structure, the Company can
adjust the dividend payment to shareholders, issue new shares, etc. The Company monitors capital using a
gearing ratio, which is net debt divided by total equity. The Company includes within net debt, interest bearing
loans and borrowings, less cash and cash equivalents.

b) Estimated value of the contracts remaining to be executed on Capital Account (net of advance) is Nil (Previous
Year-Nil)

c) (i) Foreign exchange earnings and outgo - Rs. Nil (P.Y Rs. Nil)

(ii) CIF value of imports - Rs. Nil (P.Y. Rs. Nil)

d) Balances of Personal accounts are subject to confirmation & reconciliation and consequential adjustment, if any.

e) All non-current assets of the company are located in India.

f) Number of Employees who were in receipt of or entitled to receive emoluments including benefits aggregating to
Rs. 60.00 Lakhs or more per annum if employed for full year or Rs. 5.00 Lakh per month or more if employed for
part of the year - NONE.

g) Previous year''s figures have been regrouped / reclassified wherever necessary to correspond with the current

_year''s classification / disclosure._

As per our report of even date For and on behalf of the Board of Directors

For Tibrewal Chand & Co

Chartered Accountants

Firm Regn. No. 311047E Sd/• Sd /-

Vikash Gupta Akash Gupta

Director Director

DIN:01326705 DIN: 01326005

Sd/-

CA Krishna Agrawal

Partner

Membership No. 313562 Sd/- Sd/-

Rourkela Priya Bhatter Prerna Niganiya

[Date: 29th day of May, 2024_ci_ORO_

---

Mar 31, 2014

COMPNAY OVERVIEW

Bloom Industries Ltd. Is a Iron Industry, Trading & providing Sharing, decoiling, Corrugation with Labour Job Work & Warehousing Charges Received at its factories located at Taloja, Dist.-Raigad (Maharashtra).

1. CONTINGENT LIABILITY NOT PROVIDED FOR

As at 31.03.2014 As at 31.03.2013 (Rs. in Lakh) (Rs. in Lakh)

(a) Estimated amounts of Capital contract NIL NIL

(b) The Income tax summary assessment u/s 143(1) have been completed upto Assessment year 2011-2012.

The Company has received a FBT summary assessment U/s. 115WE for Assessment year 2008-2009 on which a demand for Rs.34,000/- is raised However on the letterdemand credit for Self Assessment FBTTax paid is Rs. 29,699/- not given. The Company has filed a reply to the concern authority for rectification of order and according to the management of the company there is no tax due hence provision not required.

(c) Out of the forfeited equity shares of Rs.32.03 Lacs which were forfeited in financial year 1994-95. Some allotees filed case against forfeiture in respect of 10400 Equity Shares of Rs.10/-each which are pending before various courts. In this respect company has not made any provisions.

2. Value of Import during the year is Rs. Nil(Previous year Rs. Nil)

3. (a) Expenditure in foreign currency during theyear Rs. Nil (Previous Year Rs. Nil). (b) Earning in foreign currency during the year Nil (Previous Year Nil)

4. The Balance of Trade Receivable, Trade Payable and Loan & advances are subject to confirmation and reconciliation.

5. There is no any amount due to Micro, Small and Medium Enterprises. The disclosure is based on the information available with the company.

6. SEGMENT REPORTING

Since The Company primarily operates in one segment - Labour Job & Warehousing facility segmental reporting as required under Accounting standard -17 is not applicable. There is no reportable geographic segment either

7. RELATED PARTY DISCLOSURES

a) Related parties with whom transactions have taken place during the year

i) Key Management Person Kamal Kumar Chaudhary

Ashish Chaudhary Sharad Kumar Gupta

ii) Enterprise over which the Key Jagdamba Salts Management Personnel is able to exercise significant influence

8. DEFERRED TAX ASSETS/LIABILITY.

The AS -22 (Accounting Standard for "Accounting for Taxes on Income") issued by ICAI becomes applicable to the company w.e.f.01.04.2002.

The Deferred tax liability on account of the timing difference in the rates of depreciation has not been recognized as on 31.03.2014. Because according to the management opinion this does not affect the financial status & profitability of the company considering the substantially MATCredit available to the Company.

9. Figures have been Rounded Off to the nearest Rupee.

---

Mar 31, 2013

Note 1

COMPNAY OVERVIEW

Bloom Industries Ltd. Is a Iron Industry, Trading provided Sharing, decoiling,Corrugation with Labour Job Work & Warehousing Charges Received at its factories located atTaloja, Dist.-Raigad (Maharashtra).

2. FORFEITURE OF EQUITYSHARES

Out of the forfeited equity shares of Rs.32.03 Lacs which were forfeited in financial year 1994-95. Some allotees filed case against forfeiture in respect of 10400 Equity Shares of Rs. 10/- each which are pending before various courts. In this respect company has not made any provisions.

3. MANAGERIAL REMUNERATION :

(a) Director''s Remuneration: Rs.1,80,000/- (previous year Rs. 1,80,000/-)

(b) The remuneration stated above is in accordance with the provisions of and Schedule XIII to the Companies Act, 1956.

Since the remuneration stated above is the within the limit of remuneration paid to the managerial personnel, calculation of managerial remuneration under Section 198 of the Companies Act, 1956 is not applicable

4. CONTINGENT LIABILITY NOTPROVIDED FOR:

As at 31.03.2013 As at 31.03.2012

(Rs. in Lakh) (Rs. in Lakh)

(a) Estimated amounts of Capital contract NIL NIL

(b) The Income tax summary assessment u/s 143(1) have been completed upto Assessment year2010-2011 and 2011-2012 for which assessment order is still awaited.

The Company has received a FBT summary assessment U/s. 115WE for Assessment year 2008-2009 on which a demand for Rs.34,000/- is raised However on the letter demand credit for Self Assessment FBT Tax paid is Rs. 29,699/- not given. The Company has filed a reply to the concern authority for rectification of order and according to the management of the company there is no tax due hence provision not required.

(c) Out of the forfeited equity shares of Rs.32.03 Lacs which were forfeited in financial year 1994-95. Some allotees filed case against forfeiture in respect of 10400 Equity Shares of Rs. 10/-each which are pending before various courts. In this respect company has not made any provisions.

5. Value of Import during the year is Rs. Nil(PreviousyearRs. Nil)

6. (a) Expenditure in foreign currency during theyear Rs.Nil (PreviousYearRs.Nil). (b) Earning in foreign currency during the year Nil (Previous Year Nil)

7. The Balance of Trade Receivable, Trade Payable and Loan & advances are subject to confirmation and reconciliation.

8. There is no any amount due to Micro, Small and Medium Enterprises. The disclosure is based on the information available with the company.

9. SEGMENT REPORTING

Since The Company primarily operates in one segment - Labour Job & Warehousing facility segmental reporting as required under Accounting standard -17 is not applicable. There is no reportable geographic segment either

10. RELATED PARTY DISCLOSURES

a) Related parties with whom transactions have taken place during the year

i) Key Management Person Kamal Kumar Chaudhary

AshishChaudhary Sharad Kumar Gupta

ii) Enterprise over which the Key Jagdamba Salts

Management Personnel is able to exercise significant influence

11. DEFERRED TAX ASSETS / LIABILITY

The AS-22 (Accounting Standard for "Accounting for Taxes on Income") issued by ICAI becomes applicable to the company w.e.f.01.04.2002.

The Deferred tax liability on account of the timing difference in the rates of depreciation has not been recognized as on 31.03.2013. Because according to the management opinion this does not affect the financial status & profitability of the company considering the substantially MATCredit available to the Company.

12. Figures have been Rounded Off to the nearest Rupee

13. Payment to Auditors Audit fees inclusive of service tax Rs 28,090/- and other Professional fees Rs. 5,009/- (Previous year Audit fees Rs. 27,575/- and professional fees Rs 5,515/-).

---

Mar 31, 2012

COMPNAY OVERVIEW

Gloom Industries Lid Is a Iron Industry. Trading provided Sharing, Warehousing Charges Recewed a tits factories located atTaloja, Dist.-Raigad (Maharashtra).

1 FORFEITURE OF EQUITYSHARES

Out of Ihe forfeited equity shares of Rs.32.D3 Lacs which were forfeited in financial year 1994-95. Some allotees filed case against forfeiture in respect of 1040D Equity Shares of Rs.10/-each which are pending before various courts. In this respect company has not made any provisions.

2. MANAGERIALREMUNERATION :

(a) Director's Remuneration: Rs.1.80.000/- (previous year Rs. 1,80.000/-)

(b) The rem une ration stated above is in accordance with the revisions of and Schedule XIII to Ihe Compan ies Act 1986

Since the remuneration stated above is the within ihe limit of remuneration paid to the managerial personnel, calculation of managerial remuneration under Section 158 of the Companies AcL 1956 is not applicable.

3 CONTINGENT LIABILITY NOT PROVIDED FOR:

As at 31.03.2012 As at 31.03.2011 (Rs in Lakh) (Rs. in Lakh)

(a) Estimated amounts of Capita I contract NIL NIL

(b) The Income tax summary assessment ute 143(1) have been completed upto Assessment year 2009-2010. Except fur Assessment year for A.Y. 2006-2007. 2007-06 & 2010-2011 for which assessment order is Still ewalled.

The Company has received a FBI summary assessment UfA 115WE for Assessment year 2008-20D9 an which a demand for Rs. 34,000/- is ra Ised However on the letter demand credit for Self Assessment FBT Tax paid is Rs. 29,699/- not given. The Company has filed a reply to the concern autho rity for rectification of orderand according to the management ofthe company there is no tax due hence provision not required.

(c) Out of the forfeited equity shares of Rs.32.03 Lacs which were forfeited in financial year 1994-95. Some allolees filed case ag ainsl fuheiiu re in respect of 10*00 Equity S hares of R s. 1OZ-each which a re pending before various courts. In this respect company has net made any provisions.

4. Value of Import during the year is Rs.Nilfprewous year Re Mil)

5. (a) Expenditure in foreign currency during the year Rs. Nil (Previous Year Rs. Nil). (b) Earning in foreign currency during the year Nil (Previous Year Nil)

6- The Balance otTnjde Receivable, Trade Payable and Loan & advances a re subject to co nfirmaiion and reconciliation.

7. There a no any amount
8. The financial statements for the year ended 31st March, 2Q1 u*6 been prepared as per the then applicable, pro-revised schedule VI to ine Companies Act, 1956. Consequent to (he notification under trie Companies Act, 1956. the financial statement, for the year ended 31st March. 2012 ane prepared under revised Schedule VI Accordingly ihe previous year figures have also been reclassified to confirm to this year's classifications.

9. SEGMENTREPORTING

Since The Company primarily operate* In one segment - Labour Job £ Warehousing fndlBy segmentar reporting as required under Aeeoununo standard -17 is not applicable. There is no reportable geog raphicsegment either

10. DEFERRED TAX ASSETS / LIABILITY.

Depreciation has not been recogniied » on 31.03.3012. However according to the management opinion this (foes not affect Ihe financial statu* & orolitabilitv of the company substartially considering- the a vailable MAT Credit.

11. Figures have been Rounded Off to the nearest Rupee.

12. Payment to Auditors Audit & Ta* Audit fees indualve of Service taxfts.27.375/-and Other Professions I fees. Rs.5,5157

---

Mar 31, 2010

1. FORFEITURE OF EQUITY SHARES

Out of the forfeited equity shares of Rs.32.03 Lacs which were forfeited in financial year 1994-95. Some allotees filed case against forfeiture in respect of 10400 Equity Shares of Rs. 10/- each which are pending before various courts. In this respect company has not made any provisions.

2. MANAGERIAL REMUNERATION :

(a) Directors Remuneration: Rs. 1,80,000/- (previous year Rs. 1,80,000/-)

(b) The remuneration stated above is in accordance with the provisions of and Schedule XIII to the Companies Act, 1956.

Since the remuneration stated above is the within the limit of remuneration paid to the managerial personnel, calculation of managerial remuneration under Section 198 of the CompaniesAct, 1956 is not applicable.

3. CONTINGENT LIABILITY NOT PROVIDED FOR:

As at31.03.2010 As at 31.03.2009

(Rs. in Lakh) (Rs. in Lakh)

(a) Estimated amounts of Capital contract NIL NIL



(b) The Income tax summary assessment u/s 143(1) have been completed upto Assessment year 2005-2006. Assessment order for A.Y. 2006-2007, 2007-08 & 2009-2010 is still awaited. The Company has receive a summary assessment U/s. 143(1) for Assessment year 2008-2009 on which a demand for Rs.6,66,8607- is raised However on the same demand credit for TDS and Self Assessment Tax paid is not given. The company has filed a reply to the concern authority for rectification of order and according to the management of the company there is no tax due hence provision not required.

The Company as receive a FBT summary assessment U/S.115WE for Assessment year 2008-2009 on which a demand for Rs.34.000/- is raised However on the same demand credit for Self Assessment FBT Tax paid is not given. The Company has filed a reply to the concern authority for rectification of order and according to the management of the company there is no tax due hence provision not required.

(c) Out of the forfeited equity shares of Rs. 32.03 Lacs which were forfeited in financial year 1994-95. Some allotees filed case against forfeiture in respect of 10400 Equity Shares of Rs.10/-each which are pending before various courts. In this respect company has not made any provisions.

4. Value of Import during the year is Rs. Nil(PreviousyearRs. Nil)

5 (a) Expenditure in foreign currency during the year USD $ Nil Rs. Nil (Previous Year US $ Nil Rs. Nil).

(b) Earning in foreign currency during the year Nil (Previous Year Nil)

6. The Balance of Sundry Debtors, Creditors and advances are subject to confirmation and reconciliation.

7. There is no any amount due to Micro, Small and Medium Enterprises. The disclosure is based on the information available with the company

8. Previous years figure have been regrouped and recast whenever necessary to make them Comparable with the current year.

9. SEGMENT REPORTING

The Company has disclosed business segment as the primary segment. Segments have been identified taking into account the nature of the products and services, the differing risks & returns & the organisational structure.

The categories in the reported business segments are as follows:-

1) Sale of Salt.

2) Labour Job Charges.

3) Shares, Security & Commodity.

4) Other services

10. RELATED PARTY DISCLOSURES

a) Related parties with whom transactions have taken place during the year

i) Key Management Person Kamal Kumar Chaudhary

Ashish Chaudhary

Sharad Kumar Gupta

Vimal Sharma

Rajesh kumar Nagori

ii) Enterprise over which the Key Jagdamba Salts

Management Personnel is able to Colour Steel Co.

exercise significant influence Ashish Ispat Centre

11. DEFERRED TAX ASSETS/ LIABILITY.

The AS -22 (Accounting Standard for "Accounting for Taxes on Income") issued by ICAI becomes applicable to the company w.e.f.01.04.2002.

The Deferred tax liability on account of the timing difference in the rates of depreciation has not been recognized as on 31.03.2010. However according to the management opinion this does not affect the financial status & profitability of the company substantially considering the carry forward business loss and MAT Credit.

---

Mar 31, 2009

1. FORFEITURE OF EQUITY SHARES

Out of the forfeited equity shares of Rs. 32.03 Lacs which were forfeited in financial year 1994-95 Sume allotees filed case against forfeiture in respect of 10400 Equity Shares of Rs. 10/-each which are pending before various courts. In this respect company has not made any provisions.

2. MANAGERIAL REMUNERATION :

(a) Directors Remuneration: Rs.1,80,000/- (previous year Rs. 1,20,000/-)

(b) The remuneration stated above is in accordance with the provisions of and Schedule XIII to the Companies Act, 1956.

Since the remuneration stated above is the within the limit of remuneration paid to the managerial personnel, calculation of managerial remuneration under Section 198 of the Companies Act, 1956 is not applicable.

3. CONTINGENT LIABILITY NOT PROVIDED FOR:

As at31.03.2009 Asat 31.03.2008 (Rs. in Lakh) (Rs. in Lakh)

(a) Estimated amounts of Capital contract NIL 46.00

(b) The Income tax summary assessment u/s 143(1) have been completed upto Assessment year 2005-2006. Assessment order forA.Y 2006-2007,2007-08 & 2008-2009 isAwaited.

(c) Out of the forfeited equity shares of Rs.32.03 Lacs which were forfeited in financial year1994-95. Some allotees filed case against forfeiture in respect of 10400 Equity Shares of Rs. 10/-each which are pending before various courts. In this respect company has not made any provisions.

4. Information pursuant to the provisions of Paragraph 3 and 4C of Part II Schedule VI ofthe CompaniesAct, 1956.

5. Value of Import during the year is Rs. Nil(Previous year Rs. Nil)

6. (a) Expenditure in foreign currency during the year USDS Nil Rs Nil

(Previous Year US $ Nil Rs. Nil). (b) Earning in foreign currency during the year NIL (Previous Year Nil)

7. The Balance of Sundry Debtors, Creditors and advances are subject to confirmation and reconciliation.

8. There is no any amount due to Micro, Small and Medium Enterprises. The disclosure is based on the information available with the company.

9. Previous years figure have been regrouped and recast whenever necessary to make them Comparable with the current year.

10. SEGMENT REPORTING

The Company has disclosed business segment as the primary segment. Segments have been identified taking into account the nature of the products and services, the differing risks & returns & the organisational structure.

The categories in the reported business segments are as follows:-

1) Sale of Salt.

2) Labour Job Charges.

3) Shares & security.

4) Other services

11. RELATED PARTY DISCLOSURES

a) Related parties with whom transactions have taken place during the year

i) Key Management Person Kamal Kumar Chaudhary

Ashish Chaudhary Sharad Kumar Gupta VimalSharma RajeshkumarNagon

ii) Relative of Key Management Personnel Smt. Rekha Rajgharia

iii) Enterprise over which the Key Jagdamba Salts

Management Personnel is able to Colour Steel Co. exercise significant influence Ashish Ispat Centre

Kamal Kumar Chaudhary HUF

12. DEFERRED TAX ASSETS / LIABILITY

The AS -22 (Accounting Standard for "Accounting for Taxes on Income") issued by ICAI becomes applicable to the company w.e.f.01.04.2002. The Company had incurred cumulative loss of Rs. 173.02 Lacs as perils Balance Sheet dated 31.03.2008 and adjust current year profit after Mat Tax Rs. 25.63 lacs and cumulative losses as per income tax return filed is amounted to Rs 230 48 Lacs up to the A.Y.2008-2009 and setoff current year taxable profit Rs. 52.40 lacs and expiry of carry forward capital loss & speculation loss of A. Y. 2001-2002 Rs.63.71 lacs and additional of fresh short term capital loss amount Rs 14 16 Lakhs Net balance Rs.128.53 lacs carry forward to next year. The only item causing timing difference for deferred tax liability is "depreciation" which is due to the different rate of depreciations The amount of deferred tax liability arising on account of differential treatment of "depreciation" can be fully offset against the amount of deferred tax assets arising on account of cumulative losses incurred by the company as per Clause 29 of the said accounting standard. However, the company has not recognized the net balance of deferred tax assets in its Balance Sheet dated 31* March, 2009, as there is no reasonable certainty that sufficient future taxable income will be available against which such deferred tax assets can be realized (refer Clause 15 of AS-22)

13. Balance Sheet Abstract and Companys General Business Profile for the year ended 31" March, 2009.