Notes to Accounts of Ceenik Exports (India) Ltd.

Mar 31, 2025

S Provisions and Contingent Liabilities and Assets:

A provision is recognised when the Company has a present obligation (legal or constructive) as a result of
past events and it is probable that an outflow of resources embodying economic benefits will be required
to settle the obligation, in respect of which a reliable estimate can be made of the amount of obligation.
Provisions (excluding gratuity and compensated absences) are determined based on management''s
estimate required to settle the obligation at the Balance Sheet date. In case the time value of money is
material, provisions are discounted using a current pre-tax rate that reflects the risks specific to the liability.
When discounting is used, the increase in the provision due to the passage of time is recognised as a
finance cost. These are reviewed at each Balance Sheet date and adjusted to reflect the current
management estimates.

Contingent liabilities are disclosed in respect of possible obligations that arise from past events, whose
existence would be confirmed by the occurrence or non-occurrence of one or more uncertain future events
not wholly within the control of the Company. A contingent liability also arises, in rare cases, where a
liability cannot be recognised because it cannot be measured reliably.

Contingent asset is not recognised unless it becomes virtually certain that an flow of econimic benefits will
arise.

T Employee Benefits

i) Defined Contribution Plan

Contributions to defined contribution schemes such as provident fund, employees'' state insurance, labour
welfare are charged as an expense based on the amount of contribution required to be made as and when
services are rendered by the employees. The above benefits are classified as Defined Contribution Schemes
as the Company has no further obligations beyond the monthly contributions.

ii) Defined Benefit Plan

The Company also provides for gratuity which is a defined benefit plan, the liabilities of which is
determined based on valuations, as at the balance sheet date, made by an independent actuary using the
projected unit credit method. Re-measurement, comprising of actuarial gains and losses, in respect of
gratuity are recognised in the OCI, in the period in which they occur. Re-measurement recognised in OCI
are not reclassified to the Statement of Profit and Loss in subsequent periods. Past service cost is
recognised in the Statement of Profit and Loss in the year of plan amendment or curtailment. The
classification of the Company''s obligation into current and non-current is as per the actuarial valuation
report.

iii) Leave entitlement and compensated absences

Accumulated leave which is expected to be utilised within next twelve months, is treated as short-term
employee benefit. Leave entitlement, other than shortterm compensated absences, are provided based on
a actuarial valuation, similar to that of gratuity benefit. Re-measurement, comprising of actuarial gains and
losses, in respect of leave entitlement are recognised in the Statement of Profit and Loss in the period in
which they occur.

iv) Short-term Benefits

Short-term employee benefits such as salaries, wages, performance incentives etc. are recognised as
expenses at the undiscounted amounts in the Statement of Profit and Loss of the period in which the
related service is rendered. Expenses on non-accumulating compensated absences is recognised in the
period in which the absences occur.

v) Termination benefits

Termination benefits are recognised as an expense as and when incurred.

U Accounting for Taxes of Income:-

i) Current Taxes

Current income tax is recognised based on the estimated tax liability computed after taking credit for
allowances and exemptions in accordance with the Income Tax Act, 1961. Current income tax assets and
liabilities are measured at the amount expected to be recovered from or paid to the taxation authorities.

The tax rates and tax laws used to compute the amount are those that are enacted or substantively
enacted, at the reporting date.

ii) Deferred Taxes

Deferred tax is determined by applying the Balance Sheet approach. Deferred tax assets and liabilities are
recognised for all deductible temporary differences between the financial statements'' carrying amount of
existing assets and liabilities and their respective tax base. Deferred tax assets and liabilities are measured
using the enacted tax rates or tax rates that are substantively enacted at the Balance Sheet date. The effect
on deferred tax assets and liabilities of a change in tax rates is recognised in the period that includes the
enactment date. Deferred tax assets are only recognised to the extent that it is probable that future taxable
profits will be available against which the temporary differences can be utilised. Such assets are reviewed
at each Balance Sheet date to reassess realisation.

Deferred tax assets and liabilities are offset when there is a legally enforceable right to offset. Current tax
assets and tax liabilities are offset where the entity has a legally enforceable right to offset and intends
either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

iii) Minimum Alternative Tax

MAT is recongnised as deferred Tax Assets in the Balance Sheet when the asset can be measured reliably
and it is probable that the furure econimic benefit associated with asset will be realised

iv) Other Income - Construction Service

During the year under review, the Company has earned a sum of ^8,50,00,000/- from rendering construction-related services.
Correspondingly, an expenditure of ^6,37,50,095/- was incurred towards the cost of rendering such services. Instead of
presenting the gross revenue and corresponding expenses separately, the Company has disclosed only the net income of
^2,12,49,905/- under the head "Other Income."

This presentation has been adopted by the management on the basis that construction activity did not constitute the principal
business activity of the Company as at the balance sheet date. However, it is pertinent to note that the Company has disposed of
its plant and machinery pertaining to the garments division, which constituted its main line of operations. Accordingly, with effect
from 31st March 2025, real estate/construction activity is expected to be regarded as the Company''s principal business activity.

vi) 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 the rules made thereunder.

vii) The Company has no borrowings from banks or financial institutions on the basis of security of current assets. Hence the disclosures relating to quaterly statements is not applicab

viii) Wilful Defaulter*

The company has not been declared wilful defaulter by any bank or financial Institution or other lender.

* "wilful defaulter" here means a person or an issuer who or which is categorized as a wilful defaulter by any bank or financial institution (as defined under the Act)
or consortium thereof, in accordance with the guidelines on wilful defaulters issued by the Reserve Bank of India.

ix) Relationship with Struck off Companies

The company has not entered into any sort of transaction (investmenr in securities, any amount receivable , any amount payable, shares held by such company or
or any other outstanding balance) with any struck off company under section 248 of the Companies Act, 2013 or section 560 of Companies Act, 1956

x) Registration of charges or satisfaction with Registrar of Companies

No charges or satisfaction of any charge is yet to be registered with Registrar of Companies beyond the statutory period

xi) 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,

1 Debt Service Coverage Ratio - The DSCR has changed majorly due to loss incurred by the company during the year and less repayment in comparison the the last year
The EBIT in FY 2023-24 stood at Rs. 249.31 Lakhs while the EBIT in FY 2024-2 stands at Rs. -373.09 Lakhs.

2 Return on Equity Ratio - The ROE Ratio has changed due to increase in the loss available to equity share holder i.e. loss.

Also the denominator i.e. the total equity has also increased during the year in comparison to the last year, which has resulted in the change in the ratio

3 Return on capital employed / Return on investment:- The ROCE / ROE has fallen due to increase in losses of the company

xiii) Compliance with approved Scheme(s) of Arrangements

No Scheme of Arrangements has been approved by the Competent Authority in terms of sections 230 to 237 of the Companies Act, 2013

xiv) Utilisation of Borrowed funds and share premium:

(A) The company has not advanced or loaned or invested funds (either borrowed funds or share premium or any other sources or kind of funds) to any other
person(s) or entity(ies), including foreign entities (Intermediaries) with the understanding (whether recorded in writing or otherwise) that the Intermediary shall

(i) directly or indirectly lend or invest in other persons or entities identified in any manner whatsoever by or on behalf of the company (Ultimate Beneficiaries) oi

(ii) provide any guarantee, security or the like to or on behalf of the Ultimate Beneficiaries,

(B) The company has not received any fund from any person(s) or entity(ies), including foreign entities (Funding Party) with the understanding (whether recorded in writing or otherwise) that the
the company shall

(i) directly or indirectly lend or invest in other persons or entities identified in any manner whatsoever by or on behalf of the Funding Party (Ultimate Beneficiaries) oi

(ii) provide any guarantee, security or the like on behalf of the Ultimate Beneficiaries.

Note 33: Segment Reporting

The Company''s operating segments are established on the basis of those components that are evaluated regularly by
the ''Chief Operating Decision Maker'' as defined in Ind AS 108 - ''Operating Segments'', in deciding how to allocate
resources and in assessing performance. These have been identified taking into account nature of products and
services, the differing risks and returns and the internal business reporting systems.
a) Primary (Business) Segment:

The Company has identified business segments as its primary segment, and there is no secondary segment. Business
segments are primarily Garments Manufacturing and Investment in Realty & Securities. Revenues and expenses
directly attributable to segments are reported under each reportable segment. Expenses which are not directly
identifiable to each reportable segment have been allocated on the basis of associated revenues of the segment and
manpower efforts. All other expenses which are not attributable or allocable to segments have been disclosed as
unallocable expenses. Assets and liabilities that are directly attributable or allocable to segments are disclosed under
each reportable segment. All other assets and liabilities are disclosed as unallocable. Fixed assets that are used
interchangeably amongst segments are not allocated to primary and secondary segments.

C. Financial Risk Management
C.i. Risk management framework

A wide range of risks may affect the Company’s business and operational / financial performance. The risks
that could have significant influence on the Company are market risk, credit risk and liquidity risk. The
Company’s Board of Directors reviews and sets out policies for managing these risks and monitors suitable
actions taken by management to minimise potential adverse effects of such risks on the company’s
operational and financial performance.

C.ii. Credit risk

Credit risk is the risk of financial loss to the Company if a customer or counterparty to a financial instrument
fails to meet its contractual obligations, and arises principally from the Company’s trade and other
receivables, cash and cash equivalents and other bank balances. To manage this, the Company periodically
assesses financial reliability of customers, taking into account the financial condition, current economic trends
and analysis of historical bad debts and ageing of accounts receivable. The maximum exposure to credit risk
in case of all the financial instruments covered below is restricted to their respective carrying amount.

(a) Trade and other receivables from customers

Credit risk in respect of trade and other receivables is managed through credit approvals, establishing credit
limits and monitoring the creditworthiness of customers to which the Company grants credit terms in the
normal course of business.

The Company considers the probability of default upon initial recognition of asset and whether there has been
a significant increase in the credit risk on an on-going basis through each reporting period. To assess whether
there is a significant increase in credit risk the Company compares the risk of default occurring on assets as
at the reporting date with the risk of default as at the date of initial recognition. It considers reasonable and
supportive forwarding-looking information such as:

i) Actual or expected significant adverse changes in business

ii) Actual or expected significant changes in the operating results of the counterparty

iii) Financial or economic conditions that are expected to cause a significant change to the counterparties
ability to meet its obligation

iv) Significant changes in the value of the collateral supporting the obligation or in the quality of third party
guarantees or credit enhancements

Financial assets are written off when there is a no reasonable expectations of recovery, such as a debtor
failing to engage in a repayment plan with the Company. When loans or receivables have been written off,
the Company continues to engage in enforcement activity to attempt to recover the receivable due, When
recoverable are made, these are recognised as income in the statement of profit and loss.

The Company measures the expected credit loss of trade receivables and loan from individual customers
based on historical trend, industry practices and the business environment in which the entity operates. Loss
rates are based on actual credit loss experience and past trends. Based on the historical data, loss on
collection of receivable is not material hence no additional provision considered.

Note 37 : Capital Management

The Company aims to manage its capital efficiently so as to safeguard its ability to continue as a going concern and to
optimise returns to its shareholders. Management monitors the return on capital as well as the debt equity ratio and
make necessary adjustments in the capital structure for the development of the business. The capital structure of the
Company is based on management''s judgement of the appropriate balance of key elements in order to meet its
strategic and day - to - day needs. In order to maintain or adjust the capital structure, the Company may adjust the
amount of dividends paid to shareholders, return capital to shareholders or issue new shares.

The Company''s debt to equity ratio at 31st March,2025 is 1.25, at 31st March,2024 is 1.43,at 31 st March,2023 is 1.46
at 31st March,2022 1.52 31st March,2021 1.39, 31st March, 2020 is 1.16 and at 31st March, 2019 1.73 ( At 31st
March, 2018 was 1.02; 31st March 2017 0.89 and 1st April, 2016: 0.75)

Note : For the purpose of computing debt to equity ratio, equity includes Equity share capital and Other Equity and Debt
includes Long term borrowings, Short term borrowings and current maturities of long term borrowings.

Note 38 : Contingent Liability-

1) Company has filed an appeal against Income tax demand of Rs. 4.95 lacs related to F.Y 2013-14.

2) Demand of Service tax of Rs. 3.43 lacs related to F.Y 2007-08 to till 2010-11 Pending at lower authority for

Note 39 :

There is no availability of information about the amount dues to small/micro undertaking, we are unable to comment
that the interest if any is due to such undertaking or not. Information available has been recorded in statement.

Note 40 :

Balances are relied upon as per books of accounts wherever the confirmations from debtors /creditors /Loans
/Advances are not available.

Note 41:

Previous year figures have been regrouped and rearranged wherever necessary to confirm with the current year
presentation.

For J.S. Uberoi & Co. Ceenik Exports (India) Limited

Chartered Accountants

CA Bharat Jeswani Mr. Narain Hingorani Mrs. Kavita Hingorani

Partner Chairman & Managing Director Director

Mem No: 142376 DIN - 00275453 DIN - 00275442

UDIN: 25142376BMOGHF1142

Place : Nagpur

Date:29/05/2025

Ms. Mitali Chhoriya Mr.Dhondiram S.Karnale

Company Secretary Chief Financial Officer

Membership No:A72773 PAN: AUJPK5041Q

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Mar 31, 2024

S Provisions and Contingent Liabilities and Assets:

A provision is recognised when the Company has a present obligation (legal or constructive) as a result of past events and it is probable that an outflow of resources embodying economic benefits will be required to settle the obligation, in respect of which a reliable estimate can be made of the amount of obligation. Provisions (excluding gratuity and compensated absences) are determined based on management''s estimate required to settle the obligation at the Balance Sheet date. In case the time value of money is material, provisions are discounted using a current pre-tax rate that reflects the risks specific to the liability. When discounting is used, the increase in the provision due to the passage of time is recognised as a finance cost. These are reviewed at each Balance Sheet date and adjusted to reflect the current management estimates.

Contingent liabilities are disclosed in respect of possible obligations that arise from past events, whose existence would be confirmed by the occurrence or non-occurrence of one or more uncertain future events not wholly within the control of the Company. A contingent liability also arises, in rare cases, where a liability cannot be recognised because it cannot be measured reliably.

Contingent asset is not recognised unless it becomes virtually certain that an flow of econimic benefits will arise.

T Employee Benefits

i) Defined Contribution Plan

Contributions to defined contribution schemes such as provident fund, employees’ state insurance, labour welfare are charged as an expense based on the amount of contribution required to be made as and when services are rendered by the employees. The above benefits are classified as Defined Contribution Schemes as the Company has no further obligations beyond the monthly contributions.

ii) Defined Benefit Plan

The Company also provides for gratuity which is a defined benefit plan, the liabilities of which is determined based on valuations, as at the balance sheet date, made by an independent actuary using the projected unit credit method. Re-measurement, comprising of actuarial gains and losses, in respect of gratuity are recognised in the OCI, in the period in which they occur. Re-measurement recognised in OCI are not reclassified to the Statement of Profit and Loss in subsequent periods. Past service cost is recognised in the Statement of Profit and Loss in the year of plan amendment or curtailment. The classification of the Company’s obligation into current and non-current is as per the actuarial valuation report.

iii) Leave entitlement and compensated absences

Accumulated leave which is expected to be utilised within next twelve months, is treated as short-term employee benefit. Leave entitlement, other than short term compensated absences, are provided based on a actuarial valuation, similar to that of gratuity benefit. Re-measurement, comprising of actuarial gains and losses, in respect of leave entitlement are recognised in the Statement of Profit and Loss in the period in which they occur.

iv) Short-term Benefits

Short-term employee benefits such as salaries, wages, performance incentives etc. are recognised as expenses at the undiscounted amounts in the Statement of Profit and Loss of the period in which the related service is rendered. Expenses on non-accumulating compensated absences is recognised in the period in which the absences occur.

v) Termination benefits

Termination benefits are recognised as an expense as and when incurred.

J Accounting for Taxes of Income:) Current Taxes

Current income tax is recognised based on the estimated tax liability computed after taking credit for allowances and exemptions in accordance with the Income Tax Act, 1961. Current income tax assets and liabilities are measured at the amount expected to be recovered from or paid to the taxation authorities. The tax rates and tax laws used to compute the amount are those that are enacted or substantively enacted, at the reporting date.

i) Deferred Taxes

Deferred tax is determined by applying the Balance Sheet approach. Deferred tax assets and liabilities are recognised for all deductible temporary differences between the financial statements’ carrying amount of existing assets and liabilities and their respective tax base. Deferred tax assets and liabilities are measured using the enacted tax rates or tax rates that are substantively enacted at the Balance Sheet date. The effect on deferred tax assets and liabilities of a change in tax rates is recognised in the period that includes the enactment date. Deferred tax assets are only recognised to the extent that it is probable that future taxable profits will be available against which the temporary differences can be utilised. Such assets are reviewed at each Balance Sheet date to reassess realisation.

Deferred tax assets and liabilities are offset when there is a legally enforceable right to offset. Current tax assets and tax liabilities are offset where the entity has a legally enforceable right to offset and intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

iii) Minimum Alternative Tax

MAT Credit is recongnised as assets in the Balance Sheet when the asset can be measured reliably and it is probable that the furure econimic benefit associated with asset will be realised

vi) 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 the rules made thereunder.

vii) The Company has no borrowings from banks or financial institutions on the basis of security of current assets. Hence the disclosures relating to quaterly statements is not applicable

viii) Wilful Defaulter*

The company has not been declared wilful defaulter by any bank or financial Institution or other lender.

* “wilful defaulter” here means a person or an issuer who or which is categorized as a wilful defaulter by any bank or financial institution (as defined under the Act) or consortium thereof, in accordance with the guidelines on wilful defaulters issued by the Reserve Bank of India.

ix) Relationship with Struck off Companies

The company has not entered into any sort of transaction (investmenr in securities, any amount receivable , any amount payable, shares held by such company or or any other outstanding balance) with any struck off company under section 248 of the Companies Act, 2013 or section 560 of Companies Act, 1956.

x) Registration of charges or satisfaction with Registrar of Companies

No charges or satisfaction of any charge is yet to be registered with Registrar of Companies beyond the statutory period.

xi) Compliance with number of layers of companies

1 Debt Service Coverage Ratio - The DSCR has increased from 0.18 in FY 2021-22 to 0.51 in FY 2022-23 due to increase and improvement in Net Operating Income.

The EBIT in FY 2021-22 stood at Rs. 27.83 Lakhs while the EBIT in FY 2022-23 stands at Rs. 86.84 Lakhs.

2 Return on Equity Ratio - The ROE Ratio has increased due to increase in earnings / reduction in loss available to equity share holder i.e. loss. The earnings available to equity share holder (loss) in FY 2021-22 was Rs.-90.44 L while in FY 2022-23 it reduced to Rs. -56.74 Lakhs. The same is due to increase in earnings of the company.

3 Return on capital employed / Return on investment:- The ROCE / ROE has increased due to increased in earning before interest and taxes / reduction in losses as compared to previous year. The same is due to increase in earnings of the company in current year.

xiii) Compliance with approved Scheme(s) of Arrangements

No Scheme of Arrangements has been approved by the Competent Authority in terms of sections 230 to 237 of the Companies Act, 2013

xiv) Utilisation of Borrowed funds and share premium:

(A) The company has not advanced or loaned or invested funds (either borrowed funds or share premium or any other sources or kind of funds) to any other person(s) or entity(ies), including foreign entities (Intermediaries) with the understanding (whether recorded in writing or otherwise) that the Intermediary shall

(i) directly or indirectly lend or invest in other persons or entities identified in any manner whatsoever by or on behalf of the company (Ultimate Beneficiaries) or (ii) provide any guarantee, security or the like to or on behalf of the Ultimate Beneficiaries;

(B) The company has not received any fund from any person(s) or entity(ies), including foreign entities (Funding Party) with the understanding (whether recorded in writing or otherwise) that the the company shall

(i) directly or indirectly lend or invest in other persons or entities identified in any manner whatsoever by or on behalf of the Funding Party (Ultimate Beneficiaries) or

(ii) provide any guarantee, security or the like on behalf of the Ultimate Beneficiaries.

2. The aging schedule of trade payables in the prescribed format is already mentioned as per note annexed separately.

3. The aging schedule of trade receivables in the prescribed format is already mentioned as per note annexed separately.

4. There are no proceedings that have been initiated or pending against the Company for holding any benami property under the Prohibition of Benami Property Transactions Act, 1988 (as amended from time to time) (earlier Benami Transactions (Prohibition) Act, 1988) and the rules made thereunder.

5. The company has not availed any working capital limit from the bank.

6. The Company has not been declared a willful defaulter by any bank or financial institution or other lender.

7. The Company has no transactions with companies struck off under Companies Act, 2013 or Companies Act, 1956.

8. The Company does not have any transaction not recorded in the books of accounts that has been surrendered or disclosed as income during the year in the tax assessments under the Income-tax Act, 1961 (such as, search or survey

or any other relevant provisions of the Income-tax Act, 1961). Further, there was no previously unrecorded income, and no additional assets were required to be recorded in the books of account during the year.

9. The Company has neither traded nor invested in Crypto currency or Virtual Currency during the financial year ended March 31, 2024. Further, the Company has also not received any deposits or advances from any person for the purpose of trading or investing in Crypto Currency or Virtual Currency.

10. The company neither held any immovable property nor revalued any of its Property Plant & Equipment.

11. Following disclosures shall be made where Loans or Advances in the nature of loans are granted to promoters, directors, KMPs and the related parties (as defined under Companies Act, 2013,) either severally or jointly with any other person, that are:

15. 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.

16. No Scheme of Arrangements has been approved by the Competent Authority in terms of sections 230 to 237 of the Companies Act, 2013.

The explanation for variance in Ratios has been mentioned below: -

a) Current Asset Ratio: - The current ratio has decreased on account of increase in current liabilities in higher proportion in comparison to increase in the current assets.

b) Debt-Service Coverage Ratio: - As on 31st March 2024, DSCR has increased due increase in the profit.

c) Return on Equity Ratio: - As on 31st March 2024, Return on Equity Ratio has increased due increase in the profit.

d) Return on Capital Employed: - Increased due to increase in profits for the year ended March 24

e) Return on Investment: - Increased due to increase in profits for the year ended March 24

For and on behalf of the Board

In terms of our report of even date of Directors

For J.S. Uberoi & Co. Ceenik Exports (India) Limited

Chartered Accountants

FRN: 111107W

Mr. Narain Hingorani Managing Director

CA Bharat Jeswani DIN-00275453

Partner

Mem No: 142376

UDIN: 24142376BKFMRX9870

Place: Nagpur Mrs. Kavita Hingorani

Date: 03/05/2024 Director

DIN - 00275442

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Mar 31, 2023

a) Terms / rights attached to equity shares

The Company has only one class of equity shares having a par value of Rs. 10 per share. Each holder of equity share is entitled to one vote per share.

In the event of liquidation of the Company, the holder 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.

Terms of Repayment

Note 1- Loan from ICICI Bank Ltd. is repayable in equal 180 monthly installments of Rs. 7.58 Laks along with interest at 10.5% per annum.

Note 1- Loan from Yes Bank Ltd. is repayable in equal 180 monthly installments of Rs. 6.06 Lalhs along with interest at 9.80% per annum.

(ii)

No Loans or Advances in the nature of loans are granted to promoters, directors, KMPs and the related parties (as defined under Companies Act, 2013,) either

(iii) severally or jointly with any other person, that are:

vi) 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 the rules made thereunder.

vii) The Company has no borrowings from banks or financial institutions on the basis of security of current assets. Hence the disclosures relating to quaterly statements i

viii) Wilful Defaulter*

The company has not been declared wilful defaulter by any bank or financial Institution or other lender.

* "wilful defaulter” here means a person or an issuer who or which is categorized as a wilful defaulter by any bank or financial institution (as defined under the Act) or consortium thereof, in accordance with the guidelines on wilful defaulters issued by the Reserve Bank of India.

ix) Relationship with Struck off Companies

The company has not entered into any sort of transaction (investmenr in securities, any amount receivable , any amount payable, shares held by such company or or any other outstanding balance) with any struck off company under section 248 of the Companies Act, 2013 or section 560 of Companies Act, 1956.

x) Registration of charges or satisfaction with Registrar of Companies

No charges or satisfaction of any charge is yet to be registered with Registrar of Companies beyond the statutory period.

xi) 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,

Explanation to variation of more than 25% in the above ratios as compared to last year

1 Debt Service Coverage Ratio - The DSCR has increased from 0.18 in FY 2021-22 to 0.51 in FY 2022-23 due to increase and improvement in Net Operating Income.

The EBIT in FY 2021-22 stood at Rs. 27.83 Lakhs while the EBIT in FY 2022-23 stands at Rs. 86.84 Lakhs.

2 Return on Equity Ratio - The ROE Ratio has increased due to increase in earnings / reduction in loss available to equity share holder i.e. loss. The earnings available to equity share holder (loss) in FY 2021-22 was Rs.-90.44 L while in FY 2022-23 it reduced to Rs. -56.74 Lakhs. The same is due to increase in earnings of the company.

3 Return on capital employed / Return on investment:- The ROCE / ROE has increased due to increased in earning before interest and taxes / reduction in losses as compared to previous year. The same is due to increase in earnings of the company in current year.

xiii) Compliance with approved Scheme(s) of Arrangements

No Scheme of Arrangements has been approved by the Competent Authority in terms of sections 230 to 237 of the Companies Act, 2013

xiv) Utilisation of Borrowed funds and share premium:

(A) The company has not advanced or loaned or invested funds (either borrowed funds or share premium or any other sources or kind of funds) to any other person(s) or entity(ies), including foreign entities (Intermediaries) with the understanding (whether recorded in writing or otherwise) that the Intermediary shall

(i) directly or indirectly lend or invest in other persons or entities identified in any manner whatsoever by or on behalf of the company (Ultimate Beneficiaries) or

(ii) provide any guarantee, security or the like to or on behalf of the Ultimate Beneficiaries;

(B) The company has not received any fund from any person(s) or entity(ies), including foreign entities (Funding Party) with the understanding (whether recorded in writing or othe the company shall

(i) directly or indirectly lend or invest in other persons or entities identified in any manner whatsoever by or on behalf of the Funding Party (Ultimate Beneficiaries) o

(ii) provide any guarantee, security or the like on behalf of the Ultimate Beneficiaries.

Note 31 : Segment Reporting

The Company''s operating segments are established on the basis of those components that are evaluated regularly by the ''Chief Operating Decision Maker'' as defined in Ind AS 108 - ''Operating Segments'', in deciding how to allocate resources and in assessing performance. These have been identified taking into account nature of products and services, the differing risks and returns and the internal business reporting systems.

a) Primary (Business) Segment:

The Company has identified business segments as its primary segment, and there is no secondary segment. Business segments are primarily Garments Manufacturing and Investment in Realty & Securities. Revenues and expenses directly attributable to segments are reported under each reportable segment. Expenses which are not directly identifiable to each reportable segment have been allocated on the basis of associated revenues of the segment and manpower efforts. All other expenses which are not attributable or allocable to segments have been disclosed as unallocable expenses. Assets and liabilities that are directly attributable or allocable to segments are disclosed under each reportable segment. All other assets and liabilities are disclosed as unallocable. Fixed assets that are used interchangeably amongst segments are not allocated to primary and secondary segments.

Note 33: Post Employment Benefit Plans Defined Contribution Plans

The Company makes provident fund and Employees Insurance Scheme Contribution plan for qualifying employees. Under the Schemes,the Company is required to contribute a specified percentage of the payroll costs to fund the benefits.

Defined Benefit Plans

As certified by the Management there is no obligation in respect of gratuity and leave encashment during the year

C. Financial Risk Management C.i. Risk management framework

A wide range of risks may affect the Company''s business and operational / financial performance. The risks that could have significant influence on the Company are market risk, credit risk and liquidity risk. The Company''s Board of Directors reviews and sets out policies for managing these risks and monitors suitable actions taken by management to minimise potential adverse effects of such risks on the company''s operational and financial performance.

C.ii. Credit risk

Credit risk is the risk of financial loss to the Company if a customer or counterparty to a financial instrument fails to meet its contractual obligations, and arises principally from the Company''s trade and other receivables, cash and cash equivalents and other bank balances. To manage this, the Company periodically assesses financial reliability of customers, taking into account the financial condition, current economic trends and analysis of historical bad debts and ageing of accounts receivable. The maximum exposure to credit risk in case of all the financial instruments covered below is restricted to their respective carrying amount.

(a) Trade and other receivables from customers

Credit risk in respect of trade and other receivables is managed through credit approvals, establishing credit limits and monitoring the creditworthiness of customers to which the Company grants credit terms in the normal course of business.

The Company considers the probability of default upon initial recognition of asset and whether there has been a significant increase in the credit risk on an on-going basis through each reporting period. To assess whether there is a significant increase in credit risk the Company compares the risk of default occurring on assets as at the reporting date with the risk of default as at the date of initial recognition. It considers reasonable and supportive forwarding-looking information such as:

i) Actual or expected significant adverse changes in business

ii) Actual or expected significant changes in the operating results of the counterparty

iii) Financial or economic conditions that are expected to cause a significant change to the counterparties ability to meet its obligation

iv) Significant changes in the value of the collateral supporting the obligation or in the quality of third party guarantees or credit enhancements

Financial assets are written off when there is a no reasonable expectations of recovery, such as a debtor failing to engage in a repayment plan with the Company. When loans or receivables have been written off, the Company continues to engage in enforcement activity to attempt to recover the receivable due, When recoverable are made, these are recognised as income in the statement of profit and loss.

The Company measures the expected credit loss of trade receivables and loan from individual customers based on historical trend, industry practices and the business environment in which the entity operates. Loss rates are based on actual credit loss experience and past trends. Based on the historical data, loss on collection of receivable is not material hence no additional provision considered.

B. Measurement of fair values

Valuation techniques and significant unobservable inputs

The Fair Value of the Financial Assets & Liabilities are included at the amount at which the instrument could be exchanged in a current transaction between willing parties, other than in a forced or liquidation sale.

The following tables show the valuation techniques used in measuring Level 2 and Level 3 fair values, for financial instruments measured at fair value in the statement of financial position, as well as the significant unobservable inputs used.

Note 35 : Financial instruments - Fair values and risk management (continued)

C.iii. Liquidity risk

Liquidity risk is the risk that the Company will encounter difficulty in meeting the obligations associated with its financial liabilities that are settled by delivering cash or Liquidity risk is managed by Company through effective fund management of the Company’s short, medium and long-term funding and liquidity management requirements. The following are the remaining contractual maturities of financial liabilities at the reporting date. The amounts are gross and undiscounted.

Maturity Analysis of Significant Financial Liabilities

C.iv. Market risk

Market Risk is the risk that the fair value or future cash flows of a financial instrument will fluctuate because of changes in market prices. Market risk comprises three types of risk: currency risk, interest rate risk and other price risk.

C.iv.a Currency risk

The Company is exposed to currency risk on account of its operating and financing activities. The functional currency Foreign Currency risk exposure

The Company aims to manage its capital efficiently so as to safeguard its ability to continue as a going concern and to optimise returns to its shareholders. Management monitors the return on capital as well as the debt equity ratio and make necessary adjustments in the capital structure for the development of the business. The capital structure of the Company is based on management''s judgement of the appropriate balance of key elements in order to meet its strategic and day - to - day needs. In order to maintain or adjust the capital structure, the Company may adjust the amount of dividends paid to shareholders, return capital to shareholders or issue new shares.

The Company''s debt to equity ratio at 31st March,2022 1.52 31st March,2021 1.39, 31st March, 2020 is 1.16 and at 31st March, 2019 1.73 ( At 31st March, 2018 was 1.02; 31st March 2017 0.89 and 1st April, 2016: 0.75)

Note : For the purpose of computing debt to equity ratio, equity includes Equity share capital and Other Equity and Debt includes Long term borrowings, Short term borrowings and current maturities of long term borrowings.

Note 37 : Contingent Liability-

1) Company has filed an appeal against Income tax demand of Rs. 4.95 lacs related to F.Y 2013-14.

2) Demand of Service tax of Rs. 3.43 lacs related to F.Y 2007-08 to till 2010-11 Pending at lower authority for

Note 38 :

There is no availability of information about the amount dues to small/micro undertaking, we are unable to comment that the interest if any is due to such undertaking or not.

Note 39 :

Balances are relied upon as per books of accounts wherever the confirmations from debtors /creditors /Loans /Advances are not available.

Note 40:

Previous year figures have been regrouped and rearranged wherever necessary to confirm with the current year presentation.

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Mar 31, 2015

Particulars As at 31 March, 2015 As at 31 March, 2014 Rs. Rs.

1. Contingent liabilities and commitments (to the extent not provided for)

(i) Contingent liabilities

(a) claims against the Company not acknowledges as debt - -

(b) Guarantees - -

(c) O'her money for which the Company is contingently liable (give details) - -

(ii) Commitments

(a) Esimated amount of contracts remaining to be executed on capital account and not provided for

Tangible assets - -

Intangible assets - -

(b) Uncalled liability on shares and other investments partly paid - 5,000,000

(c) Other commitments (specify nature) - -

- 5,000,000

Note 2. Details on unhedged foreign currency exposures

The year-end foreign currency exposures that have not been hedged by a derivative instrument or otherwise are given below:

Note : 3. Employee benefit plans

Note: 4. a Defined contribution Plans

The Company makes Provident Fund and Superannuation Fund contributions to defined contribution plans for qualifying employees. Under the Schemes, the Company is required to contribute a specified percentage of the payroll costs to fund the benefits. The Company recognised Rs. 93,150/- (Year ended 31 March, 2014 Rs. 74,342/-) for Provident Fund contributions and Rs. 01- (Year ended 31 March, 2014 Rs. 28,125/-) for Superannuation Fund contributions in the Statement of Profit and Loss. The contributions payable to these plans by the Company are at rates specified in the rules of the schemes.

Note: 5. Defined benefit Plans

The Company offers the following employee benefit schemes to its employees:

i. Gratuity

The following table sets out the funded status of the defined benefit schemes and the amount recognised in the financial statements:

Note: 6.

The Company has identified business segments as its primary segment, and there is no secondary segment. Business segments are primarly Garments Manufacturing and Investment in Realty & Securities, Revennues and expenses directly attributable to segment are reported under each reportable segment. Expenses which are not directly identifiable to each reportable segment have been allocated on the basis of associated revenues of the segment and manpower efforts. All other expenses which are not attributable or allcable to segments have been disclosed as unallocable expenses. Assets and liabilities that are directly attributable or allocable to segments are disclosed under eachreportable segment. All other assetsand liabilities are disclosed as unallocable. Fixed assets that are used interchangeably amongst segments are not allocated to primary and secondary segments.

Note 7. Other Notes

(I) Amount of Rs. 14,06,383/- receivable from an overseas party Is classified as unsecured but considered good, the Company has filed a suit in Court outside India.

Note 8. Previous year's figures

Previous year's figures have been regrouped / reclassified wherever necessary to correspond with the current year's classification / disclosure.

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Mar 31, 2014

Particulars As at 31 March, 2014 As at 31 March, 2013 Rs. Rs.

Note 1 Contingent liabilities and commitments (to the extent not provided for)

(i) Contingent liabilities

(a) claims against the Company - - not acknowledges as debt

(b) Guarantees - -

(c) Other money for which the Company is contingently liable (give details)

(ii) Commitments - -

(a) Estimated amount of contracts - - remaining to be executed on capital account and not provided for

Tangible assets Intangible assets - -

(b) Uncalled liability on shares 5,000,000 5,000,000 and other investments partly paid

(c) Other commitments (specify - - nature)

5,000,000 5,000,000

Note 2 Defined contribution Plans

The Company makes Provident Fund and Superannuation Fund contributions to defined contribution plans for qualifying employees. Under the Schemes, the Company is required to contribute a specified percentage of the payroll costs to fund the benefits. The Company recognised Rs. 74,342/- (Year ended 31 March, 2013 Rs. 56,370/-) for Provident Fund contributions and Rs. 28,125/- (Year ended 31 March, 2013 Rs. 26,931/-) for Superannuation Fund contributions in the Statement of Profit and Loss. The contributions payable to these plans by the Company are at rates specified in the rules of the schemes.

Note 3 Segment information

The Company has identified business segments as its primary segment, and there is no secondary segment. Business segments are primarly Garments Manufacturing and Investment in Realty & Securities , revennues and expenses directly attributable to segment are reported under each reportable segment. Expenses which are not directly identifiable to each reportable segment have been allocated on the basis of associated revenues of the segment and manpower efforts. All other expenses which are not attributable or allcable to segments have been disclosed as unallocable expenses. Assets and liabilities that are directly attributable or allocable to segments are disclosed under each reportable segment. All other assets and liabilities are disclosed as unallocable. Fixed assets that are used interchangeably amongst segments are not allocated to primary and secondary segments.

Note 4 Other Notes

(I) Amount of Rs. 14,06,383/- receivable from an overseas party is classified as unsecured but considered good, the Company has filed a suit in Court outside India.

Note 5 Previous year''s figures

Previous year''s figures have been regrouped / reclassified wherever necessary to correspond with the current year''s classification / disclosure.

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Mar 31, 2013

Note : 1.1 Employee benefit plans Note : 24.10a Defined contribution Plans

The Company makes Provident Fund and Superannuation Fund contributions to defined contribution plans for qualifying employees. Under the Schemes, the Company is required to contribute a specified percentage of the payroll costs to fund the benefits. The Company recognised Rs. 56,370/- (Year ended 31 March, 2012 Rs. 65,827/-) for Provident Fund contributions and Rs. 26,931/- (Year ended 31 March, 2012 Rs. 37,488/-) for Superannuation Fund contributions in the Statement of Profit and Loss. The contributions payable to these plans by the Company are at rates specified in the rules of the schemes.

Note: 1.2 Defined benefit Plans

The Company offers the following employee benefit schemes to its employees:

i. Gratuity

The following table sets out the funded status of the defined benefit schemes and the amount recognised in the financial statements:

Note 1.3 Segment Information

The Company has identified business segments as its primary segment, and there is no secondary segment. Business segments are primarty Garments Manufacturing and Investment in Realty & Securities , revennues and expenses directly attributable to segment are reported under each reportable segment. Expenses which are not directly identifiable to each reportable segment have been allocated on the basis of associated revenuesof the segment and manpower efforts. All other expenses which are not attributable or allcable to segments have been disclosed as unallocable expenses. Assets and liabilities that are directly attributable or allocable to segments are disclosed under eachreportable segment. All other assetsand liabilities are disclosed as unallocable. Fixed assets that are used interchangeably amongst segments are not allocated to primary andsecondary segments.

The Company has recognised deferred tax asset on unabsorbed depreciation to the extent of the corresponding deferred tax liability on the difference between the book balance and the written down value of fixed assets under Income Tax (or) The Company has recognised deferred tax asset on unabsorbed depreciation and brought forward business losses based on the Management''s estimates of future profits considering the non-cancellable customer orders received by the Company.

Note 2 Other Notes

(I) Amount of Rs. 14,06,383/- receivable from an overseas party is classified as unsecured but considered good, the Company has filed a suit in Court outside India.

Note 3 Previous year''s figures

Previous year''s figures have been regrouped / reclassified wherever necessary to correspond with the current year''s classification / disclosure.

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Mar 31, 2012

Note: 1.1 Employes benefit plans Note: 24.10a Peflned contribution Plana

The Company makes Provident Fund and Superannuation Fund contributions to defined contribution plans for qualifying emptoyess. Under the Schemes, the Company is required to contribute a specified percentage of the payroll costs to fund the benefits. The Company recognised Rs. 65,827/- (Year ended 31 March, 2011 Rs. 67,968/-) for Provident Fund contributions and Rs. 37,488/- (Year ended 31 March, 2011 Rs. 28,076/-) for Superannuation Fund contributions in the Statement of Profit and Loss. The contributions payable to these plans by the Company are at rates specified in the rules of the schemes. Note: 24.10b Peffned benefit Plan*

The Company offers the following employee benefit schemes to its employees:

i. Gratuity

The following table sets out the funded status of the defined benefit schemes and the amount recognised

Note 1.2 Segment information

The Company has identified business segments as its primary segment, and there is no secondary segment Business segments are primarty Garments Manufacturing and Investment in Realty & Securities , revennues and expenses directly attributable to segment are reported under each reportable segment. Expenses which are not directly identifiable to each reportable segment have been allocated on the basis of associated revenuesof the segment and manpower efforts. AN omer expenses which are not attributable or allcable to segments have been disclosed as unallocable expenses. Assets and liabilities that are directly attributable or allocable to segments are disclosed under eachreportaWe segment At otter assetsand liabilities are disclosed as unallocable. Fixed assets that are used interchangeably amongst segments are not allocated to primary andsecondary segments.

The Company has recognised deferred tax asset on unabsorbed depreciation to the extent of the corresponding deferred tax liability on the difference between the book balance and the written down value of fixed assets under Income Tax (or) The Company has recognised deferred tax asset on unabsorbed depreciation and brought forward business losses based on the Management's estimates of future profits considering the non-cancellable customer orders received by the Company.

Note 3 Other Notes "

(I) Rental income from one of the parties are not recorded, Since the Company is in dispute and is before the Court

(II) Amount of Rs. 61,67,874.15 receivable from an overseas party is written off as bad debts and for which have closed the GR against those invoices.

(iii) Amount of Rs. 14,06,383/- receivable from an overseas party is classified as unsecured but considered goods the Company has filled a suit

Note 4 Previous year's figures

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

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Mar 31, 2010

(1) Details of Licenced & Installed Capacity, Production Stocks & Turnover

(2) Related Party Disclosure

(3) Deferred Tax

Deferred tax is recognised subject to the condition prudence in respect of deferred tax assets on timing differences being the differences between the taxable income and the accounting income that originate in one period and are capable of reversal in one or more subsequent period. The classification of Deferred Tax Asset

(4) Segment Information for the year ended 31.03.2010

The Company is in the business of exports of Garments and Renting of Properties.

5) Basic & diluted earning per share has been calculated by dividing net profit available for appropriations for th< year by 33,50,000 Equity Shares of Nominal Value of Rs. 10/- each.

6) Unpaid overdue amount due on 31.03.2010 to small scale and/or ancillary Industrial supplies on account o principal amount is NIL (Previous Year Rs. Nil). This disclosure is based on the information available with the Company regarding status of the suppliers as defined under the "Interest on delayed payments to Small Scak and Ancillary Industrial Undertakings Act, 1993."

7) Contingent Liabilities as on 31.03.2010

a) Liabilities in respect of bills discounted with Bank Rs. 78,52,709/ (Previous Year Rs. 2,49,70,000/-)

b) Claims against the Company not acknowledge as debt: Rs. Nil (Previous Year Rs. Nil)

c) Estimated amount of contracts remaining to be executed on Capital Account and not provided for Rs Nil (Previous Year Rs. Nil)

d) Guarantees and Counter guarantees issued by the company Rs. Nil (Previous Year Rs. Nil)

8) Computation of profit u/s 349 of the Companies Act, 1956 is not done since no commission is paid to th< Managing Director.

9) Previous year figures have been regrouped wherever necessary.