Notes to Accounts of Dhunseri Investments Ltd.

Mar 31, 2025

2.10. Provisions and contingences

The Company recognises a provision when there is present obligation as a result of a past event that probably requires an outflow
of resources and a reliable estimate can be made of the amount of the obligation. The amount recognised as a provision is the best
estimate of the consideration required to settle the present obligation at the end of the reporting period, taking into account the risks and
uncertainties surrounding the obligation.

In cases where the available information indicates that the loss on the contingency is reasonable possible but the amount of loss can not
be reasonably estimated, a disclosure is made in the financial statements.

Provisions are reviewed at each Balance Sheet date and adjusted to reflect the current best estimates. If it is no longer probable that the
outflow of resources would be required to settle the obligation, the provision is reversed.

Contingent liabilities are disclosed when there is a possible obligation arising from past events, the existence of which will be confirmed
only by the occurrence or non occurrence of one or more uncertain future events not wholly within the control of the Company or a present
obligation that may arise from past events but probably will not require an outflow of resources to settle the obligation.

When there is a possible obligation or a present obligation in respect of which likelihood of outflow of resource is remote, no provision or
disclosure is made.

Contingent assets are neither recognised nor disclosed in the financial statements.

2.11. Leases

The Company has adopted In-AS 116 -Leases.

At the inception of the contract, the Company assesses whether a contract contains a lease. A contract is, or contains, a lease if the
contract conveys the right to control the use of an identified asset for a period of time in exchange for consideration. For the purpose of
identifying if a contract contains a lease, the Company assesses whether:

( i) the contract involves the use of an identified asset

(ii) the Company has substantially all of the economic benefits from use of the asset through the period of the lease, and

(iii) the Company has the right to direct the use of the asset.

At the date of commencement of the lease, the Company recognizes a right-of-use asset ("ROU”) and a corresponding lease liability for all
lease arrangements in which it is a lessee, except in case of low value leases and short term leases (a term of less than twelve months)
wherein the lease payments are recognized as an operating expense on a straight-line basis over the term of the lease.

The lease liability is initially measured at amortized cost at the present value of the future lease payments. The lease payments are
discounted using the interest rate implicit in the lease or, if not readily determinable, using the incremental borrowing rates.

Certain lease arrangements includes the options to extend or terminate the lease before the end of the lease term. ROU assets and
lease liabilities includes these options when it is reasonably certain that they will be exercised. Lease liabilities are remeasured with a
corresponding adjustment to the related right of use asset if the Company changes its assessment if whether it will exercise an extension
or a termination option.

The right-of-use assets are initially recognized at cost. Cost includes the initial amount of the lease liability adjusted for any lease payments
made at or prior to the commencement date of the lease plus any initial direct costs less any lease incentives. They are subsequently
measured at cost less accumulated depreciation and impairment losses.

Right-of-use assets are depreciated from the commencement date on a straight-line basis over the useful life of the underlying asset or
the lease term whichever is shorter. Right of use assets are tested for impairment whenever events or changes in circumstances indicate
that their carrying amounts may not be recoverable.

Lease liability and ROU asset have been separately presented in the Balance Sheet and lease payments have been classified as financing
cash flows.

2.12. Taxes on Income

(i) Current Tax

Current tax is measured at the amount expected to be paid to the tax authorities in accordance with the Income Tax Act, 1961 in respect
of taxable income for the year and any adjustment to the tax payable or receivable in respect of previous years.

(ii) Deferred Tax

Deferred tax is provided on temporary differences at the reporting date between the tax bases of assets and liabilities and their carrying
amounts for financial reporting purpose.

Deferred tax liabilities are recognised for all taxable temporary differences, except:

Where the deferred tax liability arises from the initial recognition of an asset or liability in a transaction that is not a business combination
and, at the time of the transaction, affects neither the accounting profit nor taxable profit and loss.

Deferred tax assets are recognised for all deductible temporary differences, the carry forward of unused tax credits and any unused tax
losses. Deferred tax assets are recognised to the extent that it is probable that taxable profit will be available against which the deductible
temporary differences, and the carry forward of unused tax credits and unused tax losses can be utilised, except:

Where the deferred tax asset relating to the deductible temporary differences arises from the initial recognition of an asset or liability
in a transaction that is not a business combination and, at the time of the transaction, affects neither the accounting profit nor taxable
profit and loss.

The carrying amount of deferred tax asset is reviewed at each reporting date and reduced to the extent that it is no longer probable that
sufficient taxable profit will be available or allow all or part of the deferred tax asset to be utilised. Unrecognised deferred tax assets are
reassessed at each reporting date and are recognised to the extent that it has become probable that future taxable profits will allow the
deferred tax asset to be recovered.

Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the year when the asset is realised or the
liability is settled, based on tax rates and tax laws that have been enacted or substantively enacted at the reporting date.

Deferred tax relating to items recognised outside Profit & Loss is recognised outside Profit & Loss (either in other comprehensive income
or in equity). Deferred tax items are recognised in correlation to the underlying transaction either in OCI or other equity.

Deferred tax assets and deferred tax liabilities are offset if a legally enforceable right exists to set off current tax assets against current
tax liabilities and the deferred taxes relate to the same taxable entity and the same tax authority.

2.13. Earnings per share

The Company reports basic and diluted earnings per equity share. Basic earnings per equity share have been computed by dividing net
profit / loss attributable to the equity shareholders for the year by the weighted average number of equity shares outstanding during the
year. Diluted earnings per equity share have been computed by dividing the net profit attributable to the equity shares holders after giving
impact of dilutive potential equity shares for the year by the weighted average number of equity shares and dilutive potential equity shares
outstanding during the year, except where the results are anti-dilutive.

2.14. Segment reporting

Operating segments are reported in a manner consistent with the internal reporting provided to the Chief Operating Decision Maker
(CODM). The Managing Director of the Company has been identified as the CODM as defined by Ind-AS 108 Operating Segments, who
assesses the financial performance and position of the Company and makes strategic decisions.

The Company is dealing primarily in investment of shares and hence it is single segment company and segment reporting is not applicable
on the Company.

2.15 Cash Flow Statement

Cash flows are reported using the indirect method, prescribed in IND AS -7 whereby profit/(loss) before extraordinary items and tax is
adjusted for the effects of transactions of non-cash nature and any deferrals or accruals of past or future cash receipts or payments. The
cash flow from operating, financing and investing activities of the company are segregated based on the available information.

Description of nature and purpose of each reserve
General reserve

General reserve is created from time to time by way of transfer profits from retained earnings for appropriation purposes. General
reserve is created by a transfer from one component of equity to another and is not an item of other comprehensive income.

Retained earning

Retained earnings are the profits that the Company has earned till date, less any transfer to general reserves, dividends and other
distributions made to the shareholders.

Statutory reserve

As per Section 45-IC(1) of the Reserve Bank of India Act, 1934, every non-banking financial company shall create a reserve fund
and transfer therein a sum not less than twenty per cent of its net profit every year as disclosed in the profit and loss account and
before any dividend is declared.

FVTOCI Equity investment reserve

The Company has elected to recognise changes in the fair value of investment in equity shares in other comprehensive income.
These changes are accumulated within the FVTOCI investment reserve within equity. The Company will transfer amounts from the
said reserve to retained earnings when the relevant equity shares are de-recognised.

The discount rate is based on the prevailing market yield of Indian government securities as at the balance sheet date for the
estimated terms of the obligation.

An amount of '' 2.43 Lakhs (previous year '' 4.52 lakhs) pertaining to compensated absences is recognised as an expense and
included in "Employee benefits expense" in Note 29.

c. Defined benefit plan:

Gratuity scheme - This is an unfunded defined benefit plan and it entitles an employee, who has rendered at least 5 years of con¬
tinuous service, to receive one-half month''s salary for each year of completed service at the time of retirement/exit.

The most recent actuarial valuation of plan assets and the present value of the defined benefit obligation for gratuity were carried
out as at 31 March 2025. The present value of the defined benefit obligations and the related current service cost and past ser¬
vice cost, were measured using the Projected Unit Credit Method.

The Company has a defined benefit gratuity plan in India governed by the Payment of Gratuity Act, 1972. It entitles an employee
who has rendered at least 5 years of continuous service, to gratuity at the rate of 15 days wages for every completed year of
service or part thereof in excess of 6 months, based on the rate of wages last drawn by the employee concerned.

(i) Reconciliation of the net defined benefit liability

The following table shows a reconciliation from the opening balances to the closing balances for the net defined benefit liability

and its components

#The Company has not disclosed fair value financial instruments carried at amortised cost such as investments, cash and cash
equivalents, other bank balances and other financial assets because their carrying amounts are a reasonable approximation of fair
value.

*The Company has not disclosed fair value financial instruments carried at amortised cost such as trade payables, borrowings and
other financial liabilities because their carrying amounts are a reasonable approximation of fair value.

iii. Measurement of fair values

All assets and liabilities for which fair value is measured or disclosed in the financial statements are categorised within the fair value
hierarchy, described as follows, based on the lowest level input that is significant to the fair value measurement as a whole:

Level 1 — Quoted (unadjusted) market prices in active markets for identical assets or liabilities.

Level 2 — Valuation techniques for which the lowest level input that is significant to the fair value measurement is directly or
indirectly observable inputs.

Level 3 — Valuation techniques for which the lowest level input that is significant to the fair value measurement is unobservable.

Note 40. Financial risk management
Introduction and risk profile

The Company is a Non Banking Financial Company registered with Reserve Bank of India.

The Company''s audit committee oversees how management monitors compliance with the Company''s risk management policies
and procedures, and reviews the adequacy of the risk management framework in relation to the risks faced by the Company. The
audit committee is assisted in its oversight role by internal audit. Internal audit undertakes both regular and ad hoc reviews of risk
management controls and procedures, the results of which are reported to the audit committee.

i. Credit risk

Credit risk is the risk of financial loss to the Company if a counterparty to a financial instrument fails to meet its contractual obligations
and arises partially from the investments.

Credit risk is being managed using a set of credit norms and policies. The Company has defined roles and responsibilities for
originators and approvers. All credit exposure limits are approved by Board of Directors. The Company follows a process of time-to-
time revisiting the credit policy and processes, on the basis of experience and feedback.

The carrying amount of financial assets represent the maximum credit risk exposure. The maximum exposure to credit risk at the

ii. 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 another financial asset. The Company''s approach to managing liquidity is to ensure, as far as
possible, that it will have sufficient liquidity to meet its liabilities when they are due, under both normal and stressed conditions in a
timely manner, without incurring unacceptable losses or risking damage to the Company''s reputation.

The Company''s primary sources of liquidity include cash and bank balances, deposits, investment in mutual funds and cash flow from
operating activities. As at 31 March 2025, the Company had a working capital of '' 8553.48 Lakhs (31 March 2024: '' 5815.90
Lakhs) including cash and cash equivalent of '' 598.06 Lakhs (31 March 2024: '' 359.77 Lakhs).

Consequently, the Company believes its revenue, along with proceeds from financing activities will continue to provide the necessary
funds to cover its short term liquidity needs.

iii. Market risk

Market risk is the risk that changes in market prices such as foreign exchange rates, interest rates and equity prices, which will affect
the Company''s income or the value of its holdings of financial instruments. The objective of market risk management is to manage
and control market risk exposures within acceptable parameters, while optimising the return.
iii. a) Interest rate risk

Interest rate risk is the risk that the fair value of future cash flows of a financial instrument will fluctuate because of changes in market
interest rates. The Company is not exposed to interest rate risk from the external borrowings that are used to finance their operations.
iii. b) Market price risk

The Company is mainly exposed to the price risk due to its investment in mutual funds and quoted equity shares. The price risk arises
due to uncertainties about the future market values of these investments. The Company has laid policies and guidelines which it

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iv. Legal and operational risk
Legal Risk

Legal risk is the risk relating to losses due to legal or regulatory action that invalidates or otherwise precludes performance by the end
user or its counterparty under the terms of the contract or related netting agreements. There is currently no legal risk on the company.
Operational risk

Operational risk framework is designed to cover all functions and verticals towards identifying the key risks in the underlying processes.
The framework, at its core, has the following elements:

1. Well defined Governance Structure.

2. Regular workshops and training for enhancing awareness and risk culture.

3. Documented Operational policy.

Note 41. Capital management

The Company actively manages it''s capital base to maintain adequacy of capital to cover risks inherent to it''s business. The objective
is to maintain appropriate levels of capital to support it''s business strategy taking into account the regulatory, economic and
commercial environment. As a non banking finance company, the R.B.I requires the Company to maintain a minimum capital to risk
weighted assets ratio ("CRAR") consisting of Tier I & Tire II capital of 15% of agreegate risk weighted assets. The Company endeavours
to maintain a higher capital base than the mandated regulatory capital at all times.

For the purpose of Company''s capital management, capital includes issued equity share capital, other equity reserve less cash and
cash equivalents. The primary objective of capital management is to maintain an efficient capital structure to reduce the cost of
capital and to maximize shareholder''s values.

Note 43. Commitments and contingencies

There is no commitment or contingency at the end of financial year 2024-25

Note 44. Operating segment

"Treasury operation" and "Tea" have been identified as two operating segments of the company. The details with respect to each of
the reported business segments are as follows:

a) Treasury Operations - The treasury operations relates to holding treasury assets for capital appreciation and other related gains

b) Tea - It relates to conversion of green tea leaves to black tea for sale and investment in companies manufacturing and selling tea.

The segment information for the operating segments is as below:

Note 49. Other Statutory Information

a. The Company does not have any borrowings or long term debts or debts from financial institution or other lenders in Financial Year
2024-25 & 2023-24. Therefore the Company is neither a defaulter nor does it require to file any return in this regard.

b. All immovable properties in the books of the Company are held in it''s name except as disclosed in note no. 11.

c. There is no proceeding under Benami Transactions (Prohibition) Act, 1988 and rules made thereunder against the company as on
date of the financial statement.

d. The Company has not done any revaluation of it''s Plant, property & equipments in current or previous financial year.

e. The Company does not have any intangible asset under development in current or previous financial Year.

f. The Company has not created any charge on any of it''s movable or immovable property. Therefore the requirement of registering
charges with Registrar of Companies does not arise.

g. All transactions done by the Company during the current or previous financial year have been duly recorded in it''s books of
accounts

h. The Company has not done any transaction with struck off companies under section 248 of the companies Act, 2013.

i. The Company has not entered into any scheme of arrangement covered under section 230 to 237 of The Companies Act.

j. No fund have been advanced or loaned or invested (either from borrowed funds or share premium or any other sources or kind of
funds) by the Company to or in any other person(s) or entity(ies), including foreign entities (“Intermediaries”) with the understanding,
whether recorded in writing or otherwise, that the Intermediary shall lend or invest in party identified by or on behalf of the Company
(Ultimate Beneficiaries).

k. The Company has not received any fund from any party(s) (Funding Party) with the understanding that the Company shall whether,
directly or indirectly lend or invest in other persons or entities identified by or on behalf of the Company (“Ultimate Beneficiaries”)
or provide any guarantee, security or the like on behalf of the Ultimate Beneficiaries.

l. The Company has fully complied with the number of layers prescribed under Clause 87 of Section 2 of the Act read with Companies
(Restriction of number of layers) Rules 2017

m. The Company has not traded or invested in Crypto Currency or Virtual Currency during current or previous financial year.

Note 50. Information as per RBI Circulars

a. Disclosure as per Master Direction-Reserve Bank of India (Non-Banking Financial Company-Scale Based Regulation) Directions,

2023 dated 19 October, 2023.

i) As per the above mentioned direction issued by Reserve Bank of India, NBFCs that are part of a common group or are floated
by a common set of promoters shall be viewed on consolidated basis for RBI caterigorisation and compliance purpose and
accordingly the following three NBFC companies are controlled by the same group of promoter whose asset value is more than
Rs 1000 crore as on 31 March, 2025 and all disclosures have been given accordingly:

1) Dhunseri Investments Limited (RBI Reg. No:N.05.06909 dated 15 July, 2011)

2) Mint Investments Limited (RBI Reg. No:N.05.02262 dated 16 May, 1998)

3) Naga Dhunseri Group Limited (RBI Reg. No:N.05.02262 dated 16 May, 1998)

ii) The company has not obtained any registration from any financial sector regulator during the current or previous financial
year, hence the same is not applicable to the company

iii) No penalty has been levied on the company by any regulator.

iv) The company has no joint venture operation and neither it''s subsidiary nor it''s associate company is negaged in business as
NBFC in India

v) The company has no dealing or operation in derivatives and interest rate swaps / forward rate agreements. Hence no
disclosure is required in this regard.

vi) Matuirity Pattern of assets and liabilities of the company is given in note no 48

vii) No prior period adjustment was made in current or previous financial year.

viii) The company has not granted any loan during the year.

ix) The company has no non performing assets during the current or previous year hence no disclosure for "NPA" has been made
in the financials.

b. The company not being a primary dealer in Government Securities, disclosure requirements as stated in Circular No RBI/
IDMD/2016-17/29 (Master Direction IDMD.PDRD.01/03.64.00/2016-17) dated July 1, 2016 and updated thereafter, are not
applicable.

c. The company has not done any securitisation of assets during current or previous financial year. Therefore disclosure
requirements as stated in circular no RBI/DOR/2021-22/85 (DOR.STR.REC.53/21.04.177/2021-22) dated September 24,
2021 and amended thereafter are not applicable.

d. No loan or non-performing asset has been transferred to or from the company in current or previous financial year. Therefore
disclosure requirements as stated in Circular No RBI/DOR/2021-22/86 (DOR.STR.REC.51/21.04.048/2021-22) dated
September 24, 2021 are not applicable

Note 52.Previous year figures are regrouped and / or rearranged to confirm to current years presentation.

Signatories to Notes 1 to 52

For and on behalf of the Board of Directors of
Dhunseri Investments Ltd

CIN: L15491WB1997PLC082808

C. K. Dhanuka

Chairman
DIN : 00005684

MRIDULA AGARWAL, FCA, Partner Bhagwati Agarwal Aruna Dhanuka

(Membership No 306592) Chief Financial Officer Managing Director

For and on behalf of DIN : 00005677

U. S. AGARWAL & ASSOCIATES

Chartered Accountants
Firm Regn No 314213E

Nikita Gupta P. J. Bhide

Place: Kolkata Company Secretary & Director

Date : May 20, 2025 Compliance Officer DIN: 00012326

(ACS 61134)

---

Mar 31, 2024

2.10. Provisions and contingences

The Company recognises a provision when there is present obligation as a result of a past event that probably requires an outflow of resources and a reliable estimate can be made of the amount of the obligation. The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the end of the reporting period, taking into account the risks and uncertainties surrounding the obligation.

In cases where the available information indicates that the loss on the contingency is reasonable possible but the amount of loss can not be reasonably estimated, a disclosure is made in the financial statements.

Provisions are reviewed at each Balance Sheet date and adjusted to reflect the current best estimates. If it is no longer probable that the outflow of resources would be required to settle the obligation, the provision is reversed.

Contingent liabilities are disclosed when there is a possible obligation arising from past events, the existence of which will be confirmed only by the occurrence or non occurrence of one or more uncertain future events not wholly within the control of the Company or a present obligation that may arise from past events but probably will not require an outflow of resources to settle the obligation.

When there is a possible obligation or a present obligation in respect of which likelihood of outflow of resource is remote, no provision or disclosure is made.

Contingent assets are neither recognised nor disclosed in the financial statements.

2.11. Leases

The Company as leasee

At the inception of the contract, the Company assesses whether a contract contains a lease. A contract is, or contains, a lease if the contract conveys the right to control the use of an identified asset for a period of time in exchange for consideration. For the purpose of identifying if a contract contains a lease, the Company assesses whether:

(i) the contract involves the use of an identified asset

(ii) the Company has substantially all of the economic benefits from use of the asset through the period of the lease, and

(iii) the Company has the right to direct the use of the asset.

At the date of commencement of the lease, the Company recognizes a right-of-use asset ("ROU”) and a corresponding lease liability for all lease arrangements in which it is a lessee, except in case of low value leases and short term leases (a term of less than twelve months) wherein the lease payments are recognized as an operating expense on a straight-line basis over the term of the lease.

The lease liability is initially measured at amortized cost at the present value of the future lease payments. The lease payments are discounted using the interest rate implicit in the lease or, if not readily determinable, using the incremental borrowing rates.

Certain lease arrangements includes the options to extend or terminate the lease before the end of the lease term. ROU assets and lease liabilities includes these options when it is reasonably certain that they will be exercised. Lease liabilities are remeasured with a corresponding adjustment to the related right of use asset if the Company changes its assessment if whether it will exercise an extension or a termination option.

The right-of-use assets are initially recognized at cost. Cost includes the initial amount of the lease liability adjusted for any lease payments made at or prior to the commencement date of the lease plus any initial direct costs less any lease incentives. They are subsequently measured at cost less accumulated depreciation and impairment losses.

Right-of-use assets are depreciated from the commencement date on a straight-line basis over the useful life of the underlying asset or the lease term whichever is shorter. Right of use assets are tested for impairment whenever events or changes in circumstances indicate that their carrying amounts may not be recoverable.

Lease liability and ROU asset have been separately presented in the Balance Sheet and lease payments have been classified as financing cash flows.

2.12. Taxes on Income

(i) v Current Tax

Current tax is measured at the amount expected to be paid to the tax authorities in accordance with the Income Tax Act, 1961 in respect of taxable income for the year.Any adjustment to the tax payable or receivable in respect of previous years is shown separately as Earlier Year Taxes.

(ii) Deferred Tax

Deferred tax is provided on temporary differences at the reporting date between the tax bases of assets and liabilities and their carrying amounts for financial reporting purpose.

Deferred tax liabilities are recognised for all taxable temporary differences, except:

Where the deferred tax liability arises from the initial recognition of an asset or liability in a transaction that is not a business combination and, at the time of the transaction, affects neither the accounting profit nor taxable profit and loss.

Deferred tax assets are recognised for all deductible temporary differences, the carry forward of unused tax credits and any unused tax losses. Deferred tax assets are recognised to the extent that it is probable that taxable profit will be available against which the deductible temporary differences, and the carry forward of unused tax credits and unused tax losses can be utilised, except:

Where the deferred tax asset relating to the deductible temporary differences arises from the initial recognition of an asset or liability in a transaction that is not a business combination and, at the time of the transaction, affects neither the accounting profit nor taxable profit and loss.

The carrying amount of deferred tax asset is reviewed at each reporting date and reduced to the extent that it is no longer probable that sufficient taxable profit will be available or allow all or part of the deferred tax asset to be utilised. Unrecognised deferred tax assets are reassessed at each reporting date and are recognised to the extent that it has become probable that future taxable profits will allow the deferred tax asset to be recovered.

Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the year when the asset is realised or the liability is settled, based on tax rates and tax laws that have been enacted or substantively enacted at the reporting date.

Deferred tax relating to items recognised outside Profit & Loss is recognised outside Profit & Loss (either in other comprehensive income or in equity). Deferred tax items are recognised in correlation to the underlying transaction either in OCI or other equity.

Deferred tax assets and deferred tax liabilities are offset if a legally enforceable right exists to set off current tax assets against current tax liabilities and the deferred taxes relate to the same taxable entity and the same tax authority.

2.13. Earnings per share

The Company reports basic and diluted earnings per equity share. Basic earnings per equity share have been computed by dividing net profit / loss attributable to the equity shareholders for the year by the weighted average number of equity shares outstanding during the year. Diluted earnings per equity share have been computed by dividing the net profit attributable to the equity shares holders after giving impact of dilutive potential equity shares for the year by the weighted average number of equity shares and dilutive potential equity shares outstanding during the year, except where the results are anti-dilutive.

2.14. Segment reporting

Operating segments are reported in a manner consistent with the internal reporting provided to the Chief Operating Decision Maker (CODM). The Managing Director of the Company has been identified as the CODM as defined by Ind-AS 108 Operating Segments, who assesses the financial performance and position of the Company and makes strategic decisions.

2.15 Cash Flow Statement

Cash flows are reported using the indirect method, prescribed in IND AS -7 whereby profit/(loss) before extraordinary items and tax is adjusted for the effects of transactions of non-cash nature and any deferrals or accruals of past or future cash receipts or payments. The cash flow from operating, financing and investing activities of the company are segregated based on the available information.

c. Defined benefit plan:

Gratuity scheme - This is an unfunded defined benefit plan and it entitles an employee, who has rendered at least 5 years of continuous service, to receive one-half month''s salary for each year of completed service at the time of retirement/exit.

The most recent actuarial valuation of plan assets and the present value of the defined benefit obligation for gratuity were carried out as at 31 March 2024. The present value of the defined benefit obligations and the related current service cost and past service cost, were measured using the Projected Unit Credit Method.

The Company has a defined benefit gratuity plan in India governed by the Payment of Gratuity Act, 1972. It entitles an employee who has rendered at least 5 years of continuous service, to gratuity at the rate of 15 days salary/wages for every completed year of service or part thereof in excess of 6 months, based on the rate of wages /salary last drawn by the employee concerned.

iii. Measurement of fair values

All assets and liabilities for which fair value is measured or disclosed in the financial statements are categorised within the fair value hierarchy, described as follows, based on the lowest level input that is significant to the fair value measurement as a whole:

Level 1 - Quoted prices in an active market (level 1): This level of hierarchy includes financial assets that are measured by reference to quoted prices (unadjusted) in active markets for identical assets or liabilities.

Level 2 - Valuation techniques with observable inputs (level 2): This level of hierarchy includes financial assets and liabilities, measured using inputs other than quoted prices included within level 1 that are observable for the asset or liability, either directly (i.e., as prices) or indirectly (i.e., derived from prices)

Level 3 - Valuation techniques with significant unobservable inputs (level 3): This level of hierarchy includes financial assets and liabilities measured using inputs that are not based on observable market data (unobservable inputs). Fair values are determined in whole or in part, using a valuation model based on assumptions that are neither supported by prices from observable current market transactions in the same instrument nor are they based on available market data. This level of hierarchy includes Company''s investments in equity shares which are unquoted or for which quoted prices are not available at the reporting dates.

Note 38. Financial risk management Introduction and risk profile

The Company is a Non Banking Financial Company registered with Reserve Bank of India.

The Company''s audit committee oversees how management monitors compliance with the Company''s risk management policies and procedures, and reviews the adequacy of the risk management framework in relation to the risks faced by the Company. The audit committee is assisted in its oversight role by internal audit. Internal audit undertakes both regular and ad hoc reviews of risk management controls and procedures, the results of which are reported to the audit committee.

i. Credit risk

Credit risk is the risk of financial loss to the Company if a counterparty to a financial instrument fails to meet its contractual obligations and arises partially from the investments.

Credit risk is being managed using a set of credit norms and policies. The Company has defined roles and responsibilities for originators and approvers. All credit exposure limits are approved by Board of Directors. The Company follows a process of time-to-time revisiting the credit policy and processes, on the basis of experience and feedback.

ii. 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 another financial asset. The Company''s approach to managing liquidity is to ensure, as far as possible, that it will have sufficient liquidity to meet its liabilities when they are due, under both normal and stressed conditions in a timely manner, without incurring unacceptable losses or risking damage to the Company''s reputation.

The Company''s primary sources of liquidity include cash and bank balances, deposits, investment in mutual funds and cash flow from operating activities. As at 31 March 2024, the Company had a working capital of '' 5,815.90 Lakhs (31 March 2023: '' 2,865.64 Lakhs) including cash and cash equivalent of '' 359.77 Lakhs (31 March 2023: '' 60.81 Lakhs).

Consequently, the Company believes its revenue, along with proceeds from financing activities will continue to provide the necessary funds to cover its short term liquidity needs.

iii. Market risk

Market risk is the risk that changes in market prices such as foreign exchange rates, interest rates and equity prices, which will affect the Company''s income or the value of its holdings of financial instruments. The objective of market risk management is to manage and control market risk exposures within acceptable parameters, while optimising the return. iii. a) Interest rate risk

Interest rate risk is the risk that the fair value of future cash flows of a financial instrument will fluctuate because of changes in market interest rates. The Company is not exposed to interest rate risk from the external borrowings that are used to finance their operations.

iii. b) Market price risk

The Company is mainly exposed to the price risk due to its investment in mutual funds and quoted equity shares. The price risk arises due to uncertainties about the future market values of these investments. The Company has laid policies and guidelines which it adheres to in order to minimise price risk arising from investments in mutual funds and equity shares.

iv. Legal and Operational risk Legal Risk

Legal risk is the risk relating to losses due to legal or regulatory action that invalidates or otherwise precludes performance by the end user or its counterparty under the terms of the contract or related netting agreements. There is currently no legal risk on the company.

Operational risk

Operational risk framework is designed to cover all functions and verticals towards identifying the key risks in the underlying processes. The framework, at its core, has the following elements:

1. Well defined Governance Structure.

2. Regular workshops and training for enhancing awareness and risk culture.

3. Documented Operational Policy.

Note 39. Capital management

The Company actively manages it''s capital base to maintain adequacy of capital to cover risks inherent to it''s business. The objective is to maintain appropriate levels of capital to support it''s business strategy taking into account the regulatory, economic and commercial environment. As a non banking finance company, the R.B.I requires the Company to maintain a minimum capital to risk weighted assets ratio ("CRAR") consisting of Tier I & Tire II capital of 15% of aggregate risk weighted assets. The Company endeavours to maintain a higher capital base than the mandated regulatory capital at all times.

For the purpose of Company''s capital management, capital includes issued equity share capital, other equity reserve less cash and cash equivalents. The primary objective of capital management is to maintain an efficient capital structure to reduce the cost of capital and to maximize shareholder''s values.

Note 41. Commitments and contingencies

(a) Capital Commitment arising out of building under construction at Mayapur : '' Nil (Previous year '' 333.95 Lakhs )

(b) Disputed claims against the Company not acknowledged as debt :

(i) In Assessment Order for A/Y 2015-16 credit for Advance Tax and TDS were not properly given, resulting in additional demand of '' 55.57 Lakhs. Rectification application under section 154 of Income Tax Act is pending for disposal.

(ii) In Assessment Order for A/Y 2017-18, certain expenses have been disallowed under section 14A, resulting in additional demand of '' 25.48 Lakhs. Similarly, in Assessment Order for A/Y 2018-19, certain expenses have been disallowed under section 14A, resulting in additional demand of '' 2.90 Lakhs. The Company has preferred appeal before the Commissioner of Income Tax (Appeals), Kolkata -4 for both the Assessment of both the years.

The management is hopeful for orders favouring the company in above cases and therefore decided not to make provision against the demand.

Note 42. Operating segment

"Treasury" and "Tea " have been identified as operating segment of the Company . The details with respect to each of the reported business segments are as follows:

a) Treasury - The treasury operations relates to holding treasury assets for capital appreciation and other related gains.

b) Tea - Tea segment comprise revenue from tea operations and revenue from investments in equity instruments of tea companies and consequently assets and liabilities related to tea segment.

f. The Company has not created any charge on any of it''s movable or immovable property. Therefore the requirement of registering charges with Registrar of Companies does not arise.

g. All transactions done by the Company during the current or previous financial year have been duly recorded in it''s books of accounts

h. The Company has not done any transaction with struck off companies under section 248 of the companies Act, 2013.

i. The Company has not entered into any scheme of arrangement covered under section 230 to 237 of The Companies Act.

j. No fund have been advanced or loaned or invested (either from borrowed funds or share premium or any other sources or kind of funds) by the Company to or in any other person(s) or entity(is), including foreign entities (“Intermediaries”) with the understanding, whether recorded in writing or otherwise, that the Intermediary shall lend or invest in party identified by or on behalf of the Company (Ultimate Beneficiaries).

k. The Company has not received any fund from any party(s) (Funding Party) with the understanding that the Company shall whether, directly or indirectly lend or invest in other persons or entities identified by or on behalf of the Company (“Ultimate Beneficiaries”) or provide any guarantee, security or the like on behalf of the Ultimate Beneficiaries.

l. The Company has fully complied with the number of layers prescribed under Clause 87 of Section 2 of the Act read with Companies (Restriction of number of layers) Rules 2017

m. The Company has not traded or invested in Crypto Currency or Virtual Currency during current or previous financial year.

Note 48 Information as per RBI Circulars

a. Disclosure as per Master Direction - Reserve Bank of India (Non-Banking Financial Company - Scale Based Regulation) Directions, 2023 dated 19 October, 2023.

i) As per the above mentioned direction issued by the Reserve Bank of India NBFCs that are part of a common Group or are floated by a common set of promoters shall be viewed on consolidated basis for RBI categorisation and compliance purpose and accordingly the following three NBFC''s companies are controlled by the same group of promoter whose assets value is more than Rs. 1,000 crore as on 31st March,2024 and all disclosure are accordingly has been given:

1) Dhunseri Investment Limited ( RBI Reg. No: N.O5.06909 dated 15th July, 2011)

2) Mint Investments Limited ( RBI Reg. No: 05.02262 dated 16th May, 1998)

3) Naga Dhunseri Group Limited ( RBI Reg. No:05.01813 dated 13th April, 1998)

ii) The company has not obatined any registration from any financial sector regulator during the current finncial year, hence the same is not applicable to the company.

iii) No penalty has been levied on the company by any regulators.

iv) The company has no joint venture operation and neither it''s subsidiary nor it''s associate companies are engaged in business as NBFC in India.

v) The company has no dealing or operations in derivatives and Interest rate Swaps / Forward Rate Agreements hence no disclosure is applicable to the company.

vi) Maturity Pattern of assets and liability of the company is given in note no: 46.

vii) No prior period adjsutment has been made in the current or previous financial year.

viii) The company has not granted any loan during the year.

ix) The company has no non performing assets during the current or previous year hence no disclosure for "NPA" has been made in the financials.

c. The company has not done any securitisation of assets during current or previous financial year. Therefore disclosure requirements as stated in circular no RBI/DOR/2021-22/85 (DOR.STR.REC.53/21.04.177/2021-22) dated September 24, 2021 and amended thereafter are not applicable.

d. No loan or non-performing asset has been transferred to or from the company in current or previous financial year. Therefore disclosure requirements as stated in Circular No RBI/DOR/2021-22/86 (DOR.STR.REC.51/21.04.048/2021-22) dated September 24, 2021 are not applicable

e. Disclosure as per RBI circular RBI/2022-2023/26 (DOR. ACC. REC.No. 20/21.04.018/2022-23) dated April 19, 2022 A) Exposure

Signatories to Notes 1 to 50

For and on behalf of the Board of Directors of Dhunseri Investments Ltd

CIN: L15491WB1997PLC082808

C. K. Dhanuka

Chairman DIN : 00005684

MRIDULA AGARWAL, FCA, Partner Bhagwati Agarwal Aruna Dhanuka

(Membership No 306592) Chief Financial Officer Managing Director

For and on behalf of DIN : 00005677

U. S. AGARWAL & ASSOCIATES

Chartered Accountants

Firm Regn No 314213E Nikita Gupta P. J. Bhide

Company Secretary & Director

Place: Kolkata Compliance Officer DIN: 00012326

Date : May 28, 2024 (ACS 61134)

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Mar 31, 2018

COMPANY OVERVIEW

Dhunseri Investments Limited having its Registered Office at “Dhunseri House”, 4A Woodburn Park, Kolkata - 700020 carries on the business of Investing in Shares and Securities and is registered as a Non-Banking Financial Company with the Reserve Bank of India, having registration no. N.05.06909 dated 15th July, 2011. The Company has given Tea Packeting Factory at SP 534 (A), RIICO Industrial Area, Sitapura, Jaipur (Rajasthan) on long term lease to Dhunseri Tea & Industries Ltd, a Group Company.

(b) During the period of five years immediately preceding the date of the Balance Sheet, the Company has alloted on 31.08.2015, 6,25,000 Equity Shares of Rs. 10/- each fully paid up to the Shareholders of Plenty Valley Intra Limited (PVIL), pursuant to the scheme of arrangement sanctioned by the Hon''ble High Court at Calcutta by an order dated 29.07.2015, without payment being received in cash. As per the scheme 3,83,270 equity shares of the Company held by PVIL aggregating to Rs. 38,32,700/- have been extinguished.

(c) Terms / Rights attached to Equity Shares

The Company has one class of Equity shares having a par value of Rs. 10/- per share. Each holder of equity shares is entitled to one vote per share held and dividend proposed by the Board of Directors subject to the approval of shareholders in the Annual General meeting. In the event of Liquidation, the equity shareholders are eligible to receive the remaining assets of the Company, after distribution of all preferential amounts, in proportion to their shareholding.

(f) The Company does not have any Holding or Ultimate Holding Company.

(g) No calls are unpaid by any Director or Officer of the Company during the year.

(h) No securities convertible into Equity/Preference Shares have been issued during the year.

(i) The Board of Directors in its meeting on May 25, 2018 has proposed a final dividend of Rs. 1.50 per equity share for the financial year ended March 31, 2018 subject to the approval of the shareholders at the ensuing Annual General Meeting and if approved would result in a cash outflow of Rs. 91.46 Lakhs.

For Dividend Distribution Tax, relief u/s 115-O(1A) of the Income Tax Act, 1961 has been considered.

Note 1 The Company has not received any memorandum (as required to be filed by the supplier with the notified authority under the Micro, Small and Medium Enterprises Development Act, 2006) claiming their status as micro, small or medium enterprises. Consequently the amount paid/payable to these parties during the year - Nil.

Note 2 The Company is primarily engaged in the business of Investment in Shares and Securities and as such no separate information is required to be furnished in terms of Accounting Standard - 17, Segment Reporting prescribed under Section 133 of the Companies Act, 2013.

Note 3 EMPLOYEE BENEFIT OBLIGATION

a. Defined Contribution Plans:

Contribution for Defined Contribution Plan amounting to Rs. 1.66 Lakhs (Previous year Rs. 1.50 Lakhs) has been recognised as expenses and included in Note 19 “Contribution to Provident and Other Funds” in the Statement of Profit & Loss.

b. Defined Benefit Plans:

Reconciliation of opening and closing balances of Defined Benefit Obligation :

The present value of obligation for gratuity is determined based on actuarial valuation using the Projected Unit Credit Method. The estimates of future salary increase, considered in actuarial valuation, taken into account inflation, seniority, promotion and other relevant factors including supply & demand in the employment market.

The above information is certified by the actuary.

Note 4

a. The Management decided not to recognize decline in Market Value of certain Strategic Investments, if any, at year end which is not a permanent decline.

b. The Company has earned Profit / (Loss) on account of sale of investments as below :

Note 5 The Company has not recognised MAT Credit Receivable in the Books as there is no covincing evidence to support that normal income tax liability will arise within the specified period of MAT Credit.

Note 6 ASSET QUALITY (MOVEMENT IN NPAS)

The Company is not having any Non Performing Asset for Loans and Advances in the books as on 31st March, 2018.

Note 7 DETAILS OF EXPOSURE TO REAL ESTATE

The Company has not made any direct and indirect exposure to Real Estate in 2017-18.

Note 8 CAPITAL COMMITMENT

Capital Commitment net of Advances - NIL, (Previous Year - Nil)

Note 9

No Penalty has been imposed by any of the regulator on the Company during the year.

Note 10

Previous year''s figures have been re-grouped and re-arranged wherever considered necessary.

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Mar 31, 2016

1. Amalgamation of Plenty Valley Intra Limited with the Company

Pursuant to the Scheme of Amalgamation approved by the shareholders and sanctioned by the Hon''ble High Court at Calcutta on 29th July, 2015, 625.000 Equity Shares of Rs. 10/- each fully paid up and ranking pari-passu with the existing Equity Shares were pending to be issued by the Company to the ordinary shareholders of Plenty Valley Intra Limited (PVIL) in the ratio of 1 (one) Equity Share of Rs. 10/- each of the Company for every 8 (eight) Equity Share of Rs. 10/- each fully paid-up held in PVIL and was shown under Share Capital Suspense. Such Shares has been allotted to the Ordinary Shareholders of PVIL.

2. Based on information from vendors / service providers regarding their status under Micro, Small and Medium Enterprises Development Act, 2006 disclosures as required under section 22 of the said act are as follows :

a. The Principal amount and the interest due thereon remaining unpaid to any supplier as at 31.03.2016 is Nil (Previous Year Nil);

b. No interest was paid by the company in terms of section 16 of MSMED Act during the year;

c. There was no interest for delay in making payment beyond the appointed day;

d. There is no interest accrued and remaining unpaid beyond the appointed day;

e. No interest is remaining due and payable even in the succeeding year, until such date when the interest dues as above are actually paid to Micro, Small and Medium Enterprises for the purpose of disallowance as a deductible expenditure under section 23 of the aforesaid Act.

3. Mat Credit of Earlier Years amounting to Rs. 631.35 Lakhs has been recognized in books in the current year which has been shown by way of adjustment in General Reserve.

4. Related Party disclosure under Accounting Standard - 18

Name and nature of relationship with the Related Parties:

Related Parties	Relationship
Dhunseri Tea & Industries Ltd.	Associate Company
Dhunseri Petrochem Ltd.	Associate Company
Mint Investments Ltd.	Group Company
Naga Dhunseri Group Ltd.	Group Company
Trimplex Investments Ltd.	Group Company
Sewbhagwan & Sons	Firm over which directors are able to exercise significant influence
Mr. Chandra Kumar Dhanuka	Relative of Key Management Personnel
Mrs. Aruna Dhanuka (Managing Director w.e.f. 27.05.2016)	Key Management Personnel
Mr. Mrigank Dhanuka (Managing Director upto 26.05.2016)	Key Management Personnel
Mr. Pawan Kumar Lath (Chief Financial Officer)	Key Management Personnel
Ms. Aditi Dhanuka (Company Secretary)	Key Management Personnel

5. Employee Benefit Obligation

a. Defined Contribution Plans

Contribution for Defined Contribution Plan amounting to Rs. 1.48 Lacs (previous year Rs. 2.90 Lacs) has been recognized as expenses and included in Note 20 "Contribution to Provident and Other Funds" in the Statement of Profit & Loss.

b. Defined Benefit Plans

Reconciliation of opening and closing balances of Defined Benefit obligation:

The present value of obligation for gratuity is determined based on actuarial valuation using the Projected Unit Credit Method. The estimates of future salary increase, considered in actuarial valuation, taken into account inflation, seniority, promotion.

The above information is certified by the actuary.

6. a. Recognition in respect to fall in market price of certain quoted investments has not been done since these are long term strategic investments and decline in the market prices at year end do not represent permanent dimunition in value of investments.

7. Movement in Provisions held towards depreciation on Investments

The Company has made Provision for Diminution in the Value of Investment in Shares of Tectura Corporation for Rs. 75.74 Lacs in the Year 2014-2015.

There is no further movement in provision and it is held at Rs. 75.74 Lacs as on 31st March, 2016.

8. Asset Quality (Movement in NPAs)

The Company is not having any Non Performing Asset for Loans and Advances in the books as on 31st March,2016.

9. Details of Exposure to Real Estate

The Company has not made any direct and indirect exposure to Real Estate in 2015-16.

10. Capital Commitment

Capital Commitment net of Advances NIL, (Previous Year - Nil).

11. No Penalty has been imposed by any of the regulator on the company during the year.

12. Previous year''s figures have been re-grouped and re-arranged wherever considered necessary.

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Mar 31, 2015

1. COMPANY OVERVIEW

Dhunseri Investments Limited having its Registered Office at "Dhunseri House", 4A Woodburn Park, Kolkata - 700 020 carries on the business of Investing in Shares and Securities and is registered as a Non-Banking Financial Company with the Reserve Bank of India vide registration No. N.05.06909 dated 15th July, 2011. As per Scheme of Amalgmation sanctioned by Hon'ble High Court at Calcutta vide order dated 29th July, 2015, the Assets and Liabilities of Plenty Valley Intra Limited, a NBFC company as at the appointed date 01.04.2014 stood transferred to the Company.

The Company was also carrying on the business of Tea Packeting at SP 534 (A), RIICO Industrial Area, Sitapura, Jaipur (Rajasthan) till 31st December, 2014 which has been given on long term lease to Dhunseri Tea & Industries Limited, a group company w.e.f 1st, January 2015.

(b) During the period of five years immediately preceeding the date of the Balance Sheet, the Company has alloted on 21.10.2010, 58,55,448 Equity Shares of Rs. 10/- each fully paid up to the Shareholders of Dhunseri Tea & Industries Limited (then known as Dhunseri Petrochem & Tea Limited-DPTL), pursuant to the scheme of arrangement sanctioned by the Hon'ble High Court at Calcutta by an order dated 06.05.2010, without payment being received in cash. As per the scheme 50,000 equity shares of the Company held by DPTL agggregating to Rs. 5,00,000/- have been extinguished.

2. Terms / Rights attached to Equity Shares

The company has one class of Equity Shares having a par value of Rs. 10/- per share. Each holder of equity shares is entitled to one vote per share held and dividend proposed by the Board of Directors subject to the approval of shareholders in the Annual General meeting. In the event of Liquidation, the equity shareholders are eligible to receive the remaining assets of the company, after distribution of all preferential amounts, in proportion to their shareholding.

(f) The Company does not have any Holding or Ultimate Holding Company.

(g) No calls are unpaid by any Director or Officer of the Company during the year.

(h) No securities convertible into Equity/Preference Shares have been issued during the year.

3. Amalgamation of Plenty Valley Intra Limited with the Company

a. Pursuant to the Scheme of Amalgamation approved by the shareholders and sanctioned by the Hon'ble High Court at Calcutta on 29th July, 2015, all the Assets and Liabilities of Plenty Valley Intra Limited (PVIL), the Transferor Company, engaged in the business of dealing in shares and securities were transferred to and vested in the Company as a going concern with effect from 1st April, 2014 the Appointed Date and accordingly the Scheme has been given effect to in these accounts. According to the said Scheme, with effect from the Appointed Date, PVIL has carried out all their business and activities in trust for the Company till the Scheme becomes effective. Accordingly, previous year figures are not comparable with current year figures.

b. Pursuant to the scheme

i. All Assets and Liabilities of PVIL as on the date immediately preceding the 'Appointed Date' have been incorporated in the books of the Company at their respective book value.

ii. Equity Shares of the Transferee Company (Dhunseri Investments Ltd.) held by the Transferor Company (PVIL) has been cancelled and reduced from Issued, Subscribed and Paid up share capital and difference of cost price and paid up value has been reduced from General Reserve.

iii. In accordance with the Scheme 6,25,000 Equity Shares of Rs. 10/- each fully paid up and ranking pari-passu with the existing Equity Shares are to be issued by the Company to the Equity Shareholders of PVIL in the ratio of 1 (one) Equity Share of Rs. 10/- each of the Company for every 8 (eight) Equity Shares of Rs. 10/- each fully paid-up held in PVIL and is shown under Share Capital Suspense.

iv. The difference of Net Assets of Transferor Company as at the Appointed Date and shares to be issued to shareholders of Transferor Company by Dhunseri Investments Limited transferee Company is transferred to General Reserve.

c. The accounting treatment as set out in the aforesaid Scheme is in keeping with the Pooling of Interest method as per the Accounting Standard (AS) 14 prescribed under the Act.

d. Pending completion of the relevant formalities of transfer of certain Assets and Liabilities acquired pursuant to the Scheme as mentioned above, such Assets and Liabilities remain included in the books of the Company in the name of the Transferor Company.

4. The Company was carrying tea packeting work for Dhunseri Tea & Industries Limited till 31.12.2014 at factory premises situated at SP 534 (A), RIICO Industrial Area Sitapura Jaipur (Rajasthan). The company instead of doing tea packeting work, has leased out factory premises and plant and machineries to Dhunseri Tea & Industries Limited w.e.f. 1st January, 2015 and lease rent is shown in Other Operating Income.

5. The Company has charged depreciation based on revised remaining useful lives of the assets as per the requirements of Schedule - II of the Companies Act, 2013 effective from 1st April, 2014. Due to this depreciation charge for the year ended 31st March, 2015 is lower by Rs. 3.25 Lac. Further, based on transitional provisions, provided in note no. 7 (b) of Schedule - II of the Companies Act, 2013 read with notification no. 456 dated 29th August, 2014, an amount of Rs. 29.83 Lac and deferred tax liability thereon of Rs. 9.67 Lac has been adjusted against Retained Earnings (Net Rs.20.16 Lacs).

6. Based on information from vendors / service providers regarding their status under Micro, Small and Medium Enterprises Development Act, 2006 disclosures as required under section 22 of the said act are as follows :

a. The Principal amount and the interest due thereon remaining unpaid to any supplier as at 31.03.2015 is Nil (Previous Year Nil);

b. No interest was paid by the company in terms of section 16 of MSMED Act during the year;

c. No interest was paid for delay in making payment beyond the appointed day;

d. No interest accrued and remaining unpaid beyond the appointed day;

e. No interest is remaining due and payable even in the succeeding year, until such date when the interest dues as above are actually paid to Micro, Small and Medium Enterprises for the purpose of disallowance as a deductible expenditure under section 23 of the aforesaid Act.

7. Related Party disclosure under Accounting Standard - 18

Name and nature of relationship with the Related Parties :

Related Parties Relationship

Dhunseri Petrochem Ltd. (Formerly : Dhunseri Petrochem & Tea Ltd.) Associate Company

Dhunseri Tea & Industries Ltd. (Formerly : Dhunseri Petrochem & Tea Ltd. - Tea Division) Associate Company

Mint Investments Ltd. Group Company

Madhuting Tea Pvt. Ltd. Group Company

Naga Dhunseri Group Ltd. Group Company

Trimplex Investments Ltd. Group Company

Sewbhagwan & Sons Firm over which directors are abl to exercise significant influence

Mr. Chandra Kumar Dhanuka (Managing Director upto 08.09.2014) Key Management Personnel

Mrs. Aruna Dhanuka Relative of Key Management Personnel

Mr. Mrigank Dhanuka (Managing Director Key Management Personnel w.e.f. 09.09.2014)

Mr. Pawan Kumar Lath (Chief Financial Officer Key Management Personnel w.e.f. 01.10.2014)

Mr. R. Mahadevan (Company Secretary Key Management Personnel upto 08.09.2014)

Ms. Aditi Dhanuka (Company Secretary Key Management Personnel w.e.f. 09.09.2014)

The Company has disclosed business segment, as primary segment. Segments have been identified and reported taking into account the nature of business. The main business segment is Investments in shares and securities.

8. The Provisions of Section 135 of the Companies Act, 2013 and Companies (Corporate Social Responsibility Policy) Rules, 2014 relating to Corporate Social Responsibility (CSR) will be applicable to the company when the accounts for the Financial Year 2014 - 15 will be approved by the shareholders at the ensuing Annual General Meeting. The Company will implement CSR activities for the Financial Year 2015 - 16 commencing 1st April, 2015.

9. Employee Benefit Obligation

a. Defined Contribution Plans

Contribution for Defined Contribution Plan amounting to Rs. 2.90 Lacs (previous year Rs.3.13 Lacs) has been recognised as expenses and included in Note 20 "Contribution to Provident and Other Funds" in the Statement of Profit & Loss.

b. Defined Benefit Plans

Reconciliation of opening and closing balances of Defined Benefit obligation :

The present value of obligation for gratuity is determined based on actuarial valuation using the Projected Unit Credit Method. The estimates of future salary increase, considered in actuarial valuation, take into account inflation, seniority, promotion.

The above information is certified by the actuary.

10. a. Recognition in respect to fall in market price of certain quoted investments has not been done since these are long term strategic investments and decline in the market prices at year end do not represent permanent dimunition in vaue of investments.

11. Information pursuant to the provision of Part II of Schedule III of the Companies Act, 2013.

12. Information required by the Non-Banking Financial Companies (Reserve Bank) Directions, 1977

13. Movement in Provisions held towards depreciation on Investments

The Company has made Provision for Dimunition in the Value of Investment in Shares of Tectura Corporation for Rs. 75.74 Lacs as on 31st March, 2015.

14. Asset Quality (Movement in NPAs)

The Company is not having any Non Performing Asset for Loans and Advances in the books as on 31st March, 2015.

15. Details of Exposure to Real Estate

The Company has not made any direct and indirect exposure to Real Estate in 2014-15.

16. Capital Commitment

Capital Commitment net of Advances NIL, (Previous Year - Nil).

17. No Penalty has been imposed by any of the regulator on the company during the year.

18. Previous year's figures have been re-grouped and re-arranged wherever considered necessary.

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Mar 31, 2014

1. Movement in Provisions held towards depreciation on investments

The Company is not holding any investment of such nature for which provision towards depreciation is to be maintained as on 31 st March, 2014.

2. Asset Quality (Movement in NPAs)

The Company is not having any NPA''s in the books as on 31st March, 2014.

3. Details of exposure to real estate

The Company has not made any direct and indirect exposure to real estate in 2013-14.

4. Capital Commitment

Capital Commitment net of advances NIL, (Previous year-Rs. 50 Lacs).

5. Based on information from vendors / service providers regarding their status under Micro, Small and Medium Enterprises Development Act, 2006 disclosures as required :

a) The Principal amount and the interest due thereon remaining unpaid to any supplier as at 31.03.2014 is Rs. Nil (Previous Year Rs. Nil);

b) No interest was paid by the Company in terms of Section 16 of MSMED Act during the year;

c) There was no interest for delay in making payment beyond the appointed day;

d) There is no interest accrued and remaining unpaid beyond the appointed day;

e) No interest is remaining due and payable even in the succeeding year, until such date when the interest dues as above are actually paid to Micro, Small and Medium Enterprises for the purpose of disallowance as a deductible expenditure under Section 23 of the aforesaid Act.

a) The Company has disclosed business segment, as primary segment. Segments have been identified and reported taking into account the nature of business. The main business segment are 1) Investments in shares and securities 2) Other business segment consists of Tea Packeting.

b) Segment Revenue, Results, Assets and Liabilities include the respective amounts identifiable to each of the segment and amount allocated on a reasonable basis.

6. Employee Benefit Obligation

a) Defined Contribution Plans :

Contribution for Defined Contribution Plan amounting to Rs. 3.13 Lacs ( Previous year Rs. 3.23 Lacs) has been recognised as expenses and included in Note 19 "Contribution to Provident and Other Funds" in the Statement of Profit & Loss.

7. Previous year''s figures have been re-grouped and re-arranged wherever considered necessary.

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Mar 31, 2013

1. Movement in Provisions held towards depreciation on investments

The Company is not holding any investment of such nature for which provision towards depreciation is to be maintained as on 31 st March, 2013.

2. Asset Quality (Movement in NPAs)

The Company is not having any NPA''s in the books as on 31st March, 2013.

3. Details of exposure to real estate

The Company has not made any direct and indirect exposure to real estate in 2012-13.

4. Capital Commitment

Capital Commitment net of advances Rs. 50 Lac (Previous year-Rs. Nil).

In respect of Company''s investment in M/s. Tectura Corporation, USA, the Company has received consideration of US$ 80,000 i.e. Rs. 44.30 Lacs against the sale of 42,369 number of shares.

5. Based on information from vendors / service providers regarding their status under Micro, Small and Medium Enterprises Development Act, 2006 disclosures as required under Section 22 of the said act are as follows :

a) The Principal amount and the interest due thereon remaining unpaid to any supplier as at 31.03.2013 is Rs. Nil (Previous Year Rs. Nil);

b) No interest was paid by the Company in terms of Section 16 of MSMED Act during the year;

c) There was no interest for delay in making payment beyond the appointed day;

d) There is no interest accrued and remaining unpaid beyond the appointed day;

e) No interest is remaining due and payable even in the succeeding year, until such date when the interest dues as above are actually paid to Micro, Small and Medium Enterprises for the purpose of disallowance as a deductible expenditure under Section 23 of the aforesaid Act.

a) The Company has disclosed business segment, as primary segment. Segments have been identified and reported taking into account the nature of business. The main business segment are 1) Investments in shares and securities 2) Other business segment consists of Tea Packeting.

b) Segment Revenue, Results, Assets and Liabilities include the respective amounts identifiable to each of the segment and amount allocated on a reasonable basis.

6. Employee Benefit Obligation

a) Defined Contribution Plans :

Contribution for Defined Contribution Plan amounting to Rs. 3.23 Lacs ( Previous year Rs. 2.40 Lacs) has been recognised as expenses and included in Note 20 "Contribution to Provident and Other Funds" in the Statement of Profit & Loss.

7. Previous year''s figures have been re-grouped and re-arranged wherever considered necessary.

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Mar 31, 2012

A) The Company has entered into an agreement with Dhunseri Petrochem and Tea Limited w.e.f. 01.07.2010 for packeting of Teas on their behalf.

b) Based on information from vendors / service providers regarding their status under Micro, Small and Medium Enterprises Development Act, 2006 disclosures as required under Section 22 of the said Act are as follows :

i) The principal amount and the interest due thereon remaining unpaid to any supplier as at 31.03.2012 is Nil (Previous Year Nil);

ii) No interest was paid by the Company in terms of Section 16 of MSMED Act during the year;

iii) There was no interest for delay in making payment beyond the appointed day;

iv) There is no interest accrued and remaining unpaid beyond the appointed day;

v) No interest is remaining due and payable even in the succeeding year, until such date when the interest dues as above are actually paid to Micro, Small and Medium Enterprises for the purpose of disallowance as a deductible expenditure under Section 23 of the aforesaid Act.

i) The Company has disclosed business segment, as primary segment. Segments have been identified and reported taking into account the nature of business. The main business segment are 1) Investments in shares and securities

1) Other business segment consists of Tea Packeting.

ii) Segment Revenue, Results, Assets and Liabilities include the respective amounts identifiable to each of the segment and amount allocated on a reasonable basis.

c) Employee Benefit Obligation

i) Defined Contribution Plans :

Contribution for Defined Contribution Plan amounting to Rs. 2.40 Lacs (Previous year Rs.1.42 Lacs) has been recognised as expenses and included in Note 2.18 "Contribution to Provident and Other Funds" in the Statement of Profit & Loss.

The present value of obligation for gratuity is determined based on actuarial valuation using the Projected Unit Credit Method. The estimates of future salary increase, considered in actuarial valuation, take into account inflation, seniority, promotion and other relevant factors including supply and demand in the employment market.

The above information is certified by the actuary.

d) i) Recognition in respect to fall in market price of certain quoted investments has not been done since these are long term strategic investments and decline in the market prices at year end do not represent permanent dimunition in vaue of investments.

e) Previous year's figures have been re-grouped and re-arranged wherever considered necessary.

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Mar 31, 2011

I) In accordance with the Scheme of Arrangement approved by the Shareholders and sanctioned by the Hon'ble High Court at Calcutta vide its order dated 6th May 2010 :

a) 58,55,448 Shares ofRs. 10/- each fully paid up and ranking pari passu with existing Equity Shares have been issued by the Company to the Equity Share holders of Dhunseri Tea & Industries Ltd. now Dhunseri Petrochem & Tea Ltd. ( DPTL ) in the ratio of 1 Equity Share of Rs.10/- each fully paid up of the Company for every 2 Equity Shares of Rs. 10/- each fully paid up held by them in the capital of DPTL on 21.07.2010.

b) All existing shares held by DPTL in Dhunseri Investments Limited (Formerly DI Marketing Limited) i.e. 50,000 Equity Shares ofRs. 10/- each stood cancelled without any further act or deed on 21st July ,2010.

c ) DPTL carried on the business in trust till the scheme of arrangement was approved. Accordingly, DPTL carried on the transactions of Investment in Shares in their own name till 30.06.2010.

ii ) The company has entered into an agreement with Dhunseri Petrochem and Tea Limited w.e.f 01.07.2010 for packeting of Teas on their behalf. Hence all expenses related to Jaipur Packet factory has been borne by DPTL till 30.06.2010.

iii) The company has applied to Reserve Bank of India for registration as a Non Banking Financial Company and the approval is awaited.

iv) The Shares of the Company have been listed on Bombay Stock Exchange and National Stock Exchange with effect from 18th March, 2011.

v) Based on information from vendors / service providers regarding their status under Micro, Small and Medium Enterprises Development Act, 2006 disclosures as required under Section 22 of the said act are as follows:

a. The Principal amount and the interest due thereon remaining unpaid to any supplier as at 31.03.2011 is Nil (Previous Year Nil);

b. No interest was paid by the company in terms of Section 16 of MSMED Act during the year;

c. There was no interest for delay in making payment beyond the appointed day;

d. There is no interest accrued and remaining unpaid beyond the appointed day;

e. No interest is remaining due and payable even in the succeeding year, until such date when the interest dues as above are actually paid to Micro, Small and Medium Enterprises for the purpose of disallowance as a deductible expenditure under Section 23 of the aforesaid Act.

vi) The major components of the Deferred Tax Assets / Liabilities based on the tax effect of timing differences, as at 31 March, 2011 are as under :

vii) Related Party disclosure under Accounting Standard - 18 Name and nature of relationship of the Related Parties :

Related Party Relationship

Dhunseri Petrochem and Tea Ltd. Associate / Group Company

Dhunseri Services Ltd. Associate / Group Company

Mint Investments Ltd. Associate / Group Company

Sewbhagwan & Sons Firm in which two Directors are Partners

Chandra Kumar Dhanuka Key Managerial Personnel

Aruna Dhanuka Key Managerial Personnel

Mrigank Dhanuka Key Managerial Personnel

a. The Company has disclosed business segment, as primary segment. Segments have been identified and reported taking into account the nature of business. The main business segment are : 1) Investments in shares and securities 2) Other business segment consists of Tea Packeting.

b. Segment Revenue, Results, Assets and Liabilities include the respective amounts identifiable to each of the segment and amount allocated on a reasonable basis.

c. Previous year figures have not been given segmentwise as there was single segment. i.e. Investment in Shares & Securities.

x) Employee Benefit Obligation

A Defined Contribution Plans

Contribution for Defined Contribution Plan amounting to Rs.1.42 Lacs (previous year Rs. Nil) has been recognised as expenses and included in Schedule 10 "Contribution to Provident and Other Funds" in the Profit & Loss Account.

xi) a ) Recognition in respect to fall in market price of certain quoted investments has not been done since these are long term strategic investments and decline in the market prices at year end do not represent permanent dimunition in value of investments.

xiv) Previous year's figures have been re-grouped and re-arranged wherever considered necessary.

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Mar 31, 2010

I. The name of the Company has been changed from Dl Marketing Limited to Dhunseri Investments Limited w.e.f. 16.07.2010 after receipt of fresh certificate of Incorporation consequent on change of name from the Registrar of Companies, West Bengal.

ii. Transfer of Demerged Undertaking of Jaipur Packet Factory and Investment Division of Dhunseri Tea & Industries Limited (DTIL) (now Dhunseri Petrochem and Tea Limited) to Dhunseri Investments Limited (Formerly Dl Marketing Limited)(DIML) :

a) Pursuant to Scheme of Arrangement (the Scheme) approved by the Shareholders and sanctioned by the Honble High Court of Calcutta vide its order dated 6th May, 2010, Jaipur Packet Factory and Investment division of DTIL has been transferred to DIML with effect from 1st April, 2009 (the Appointed Date) and accordingly the Scheme has been given effect to in these accounts.

b) In accordance with the Scheme, 5,855,448 Equity Shares of Rs. 10/- each fully paid up and ranking pari passu with existing Equity Shares have been issued by the DIML to the equity shareholders of DTIL in the ratio of 1 (One) Equity Share of Rs. 10/-each fully paid up of DIML for every 2 (Two) Equity Shares of Rs. 10/-each fully paid up held by them in the capital of DTIL on 21.07.2010.

c) All existing shares held by DTIL in Dhunseri Investments Limited ( Formerly Dl Marketing Limited) i.e. 50,000 Equity Shares of Rs. 10/- each stands cancelled without any further act or deed on 21st July, 2010.

e ) As per the scheme of arrangement, Dhunseri Tea and Industries Limited (now Dhunseri Petrochem and Tea Limited) carried on the business in trust till the scheme of arrangement is approved. Accordingly, Dhunseri Tea and Industries Limited carried on the transactions of Investment in Shares in their own name from 01.04.2009, which have been transferred to the company on or before 17th July 2010.

f) Land situated at Jaipur which is transferred to the company alongwith Building, Plant and Machinery and Net Current Assets, as per Scheme of arrangement is yet to be registered in the name of the company.

g) The company has entered into an agreement with Dhunseri Petrochem and Tea Limited w.e.f 01.07.2010 for packeting of Teas on their behalf. Till such time, Dhunseri Petrochem and Tea Limited, has reimburesd all the expenditure incurred for packeting of teas.

iii) The company is in the process of getting it registered as Non Banking Financial Company with Reserve Bank of India.

iv) The company has increased the authorized capital from Rs. 20.00 Lac to Rs. 590.54 Lac divided into 59,05,448 Equity Shares of Rs.10/- each and necessary form have been filed with the Registrar of Companies, West Bengal.

v) The company is in the process of listing of its shares in Bombay Stock Exchange and National Stock Exchange.

vi) Based on information from vendors / service providers regarding their status under Micro, Small and Medium Enterprises Development Act, 2006 and disclosers as required under Section 22 of the said act are as follows:

a. The Principal amount and the interest due thereon remaining unpaid to any supplier as at 31.03.2010 is Nil (Previous Year Nil);

b. No interest was paid by the company in terms of Section 16 of MSMED Act during the year;

c. There was no interest for delay in making payment beyond the appointed day ;

d. There is no interest accrued and remaining unpaid beyond the appointed day ;

e. No interest is remaining due and payable even in the succeeding years, until such date when the interest dues as above are actually paid to Micro, Small and Medium Enterprises for the purpose of disallowance as a deductible expenditure under Section 23 of the aforesaid Act.

vii) The Company is engaged mainly in the business of Trading and Investment in Shares Hence, there is no other

reportable segment as per AS - 17 on "Segment Reporting" as issued by ICAI.

viii) Figures have been rounded off in thousands.

ix) Previous Years figures have been re-grouped / re-arranged wherever considered necessary.

x) Schedule to the Balance Sheet of a non-deposit taking Non-Banking Financial Company (as required in terms of Paragraph 13 of Non-Banking Financial (Non-Deposit Accepting or Holding) Companies Prudential Norms (Reserve Bank) Directions, 2007.