Notes to Accounts of Elegant Floriculture & Agrotech (I) Ltd.

Mar 31, 2024

(G) Significant Accounting Policies :-

(i) The Company generally follows mercantile method of accounting except the following which are
accounted on cash basis.

a) Gratuity and incentives to employees

b) Income from investment

c) Claims and interest due on overdue bills.

d) Closing Stock valued at cost.

(ii) Depreciation on fixed assets have been provided on straight line method as per schedule XIV of the
Companies Act, 1956, on Single Shift Basis.

(J) Disclosures pertaining to corporate social responsibility activities :

The provisions of section 135 of the Companies Act, 2013 pertaining to Corporate Social Responsibility are not
applicable to the company.

(K) Disclosure in relation to undisclosed income :

The Company has not surrendered or disclosed any 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).

(L) Details of Crypto Currency or Virtual Currency :

The Company has not traded or invested in Crypto currency or Virtual Currency during the financial year.

(M) As per the information given by the Company, there are no suppliers who are covered under the Micro, Small andl
Medium Enterprises Development Act, 2006.

(N) During the year the Company has created Deferred Tax Liability of ^ 584,600/-.

(R) Figures in brackets represent the figures of the previous year and have been regrouped / rearranged wherever
necessary.

(ii) Since, all loans given by Company are repayable on demand, the percentage oftotal loans repayable on demand to
the total loans granted is 100%.

Signature to Note ''1'' to ''23''

As per our report of even date

For Valawat & Associates For Elegant Floriculture & Agrotech (I) Limited

Chartered Accountants

Sd/-

Whole Time Director
(Mangesh Parashram Gadakh)

DIN :09736469

Sd/-

Partner

(CA Priyansh Valawat) Sd/- Sd/-

Director and CFO Company Secretary

Firm Regn. No. : 003623C (Mayur Jitendra Thakar) (Kirti Bhandari)

Membership No. : 434660 DIN : 08156395 Membership No. A43519

Place : Mumbai Place : Mumbai

Date : 29th May, 2024 Date : 29th May, 2024

UDIN :244346608KE1JW8421

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Mar 31, 2014

1) In the opinion of the Board of Directors, the current assets, loans and advances have a value which on realization in the ordinary course of Business would be at least equal to the amount stated in the Balance Sheet.

2) Figures in brackets represent the figures of the previous year and have been regrouped / rearranged wherever necessary.

3) Pursuant to compliance of Accounting Standard (AS) 20 "Earnings per Share", the relevant information is provided here below:

4) Pursuant to compliance of Accounting Standard (AS) 18 ''Related Party Disclosures'', provisions of section 301 of the Companies Act, 1956, as per Point (iii)(a) of the Annexure to the Companies (Auditor''s Report) Order, 2003 and also the loans granted by the Company which is covered under section 372A of the Companies Act, 1956, the relevant information is provided hereunder.

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Mar 31, 2013

1) Disclosure pursuant to Note no. 6(T) of Part I of Schedule VI to the Companies Act, 1956

Contingent liabilities and commitments

As at As at (to the extent not provided for) 31/03/2013 31/03/2012

i) Contingent Liabilities

a) Claims against the company not acknowledged as debt - -

b) Guarantees - -

c) Other money for which the company is contingently liable - -

Total......(i) - -

ii) Commitments

a) Estimated amount of contracts remaining to be executed

on capital account and not provided for - -

b) Uncalled liability on shares and other investments partly paid - -

c) Other commitments _ -

Total......(ii)

TOTAL - -

2) Disclosure pursuant to Note no. 6(W) of Part I of Schedule VI to the Companies Act, 1956.

In the opinion of the Board, all assets other than fixed assets and non current investments, have a realizable value in the ordinary course of business which is not different from the amount at which it is stated.

3) In the opinion of the Board of Directors, the current assets, loans and advances have a value which on realization in the ordinary course of Business would be at least equal to the amount stated in the Balance Sheet.

4) Figures in brackets represent the figures of the previous year and have been regrouped / rearranged wherever necessary.

5) As per the information given by the Company, there are no suppliers who are covered under the Micro, Small and Medium Enterprises Development Act, 2006.

6) Figures in brackets represent the figures of the previous year and have been regrouped / rearranged wherever necessary.

7) During the year the Company has created Deferred Tax Liability of Rs. 24,33,051/-.

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Mar 31, 2010

1 Contingent Liability not acknowledged as Debt is Rs. Nil (Nil).

2 In the opinion of the Board of Directors, the Current assets, loans and advances have a value which on realisation in the ordinary course of Business would be at least equal to the amount stated in the Balance Sheet.

3 Income Tax :

Income taxes are accounted for in accordance with Accounting Standard 22 on Accounting for Taxes on Income. Taxes comprise both current and deferred tax.

Current tax is measured at amount expected to be paid to the taxation authorities, using the applicable tax rates and tax laws.

The tax effect of the timing differences that result between taxable income and accounting income and are capable of reversal in one or more subsequent periods are recorded as a deferred tax assets or liability.

They are measured using the substantively enacted rates and tax regulations.

4 Pursuant to compliance of Accounting Standard (AS) 18 Related Party Disclosures", provisions of section 301 of the Companies Act, 1956, as per Point (iii)(a) of the Annexure to the Companies (Auditors Report) Order, 2003 and also the loans taken or granted by the Company which is covered under section 370(1 -B) of the Companies Act, 1956, the relevant information is provided hereunder:

A) Related Parties where control exists

Sr. No. Name of Party Relationship

1 Rajkumar B. Agarwal Key Management Personnel

2 Pawankumar B. Agarwal Key Management Personnel

B) The details of the related parties with whom transactions have taken place in the current and the preceeding year.

5 As per the information given by the Company, there are no suppliers who are covered under the Micro, Small and Medium Enterprises Development Act, 2006.

6 Figures in brackets represent the figures of the previous year and have been regrouped / rearranged wherever necessary.

7 During the year the Company has created deferred tax liabilitiy of Rs. 82,813/-.

8 The Company has allotted 93,65,000 Equity Shares of Rs. 10/- each on conversion of warrants on 19-12-2009. Out of the total 93,65,000 Equity Shares, 7,65,000 Equity Shares are allotted to the promoters and 86,00,000 Equity Shares are allotted to persons other than promoters.