Notes to Accounts of Infra Industries Ltd.

Mar 31, 2024

h) Provision, Contingent Liabilities and Contingent Assets

Provisions are recognized when the Company has a present obligation (legal or constructive) as a result of a past event and it
is probable that an outflow of resources, that can be reliably estimated, will be required to settle such an obligation.

If the effect of the time value of money is material, provisions are determined by discounting the expected future cash flows
to net present value using an appropriate pre-tax discount rate that reflects current market assessments of the time value of
money and, where appropriate, the risks specific to the liability. Unwinding of the discount is recognized in the Statement of
Profit and Loss as a finance cost. Provisions are reviewed at each reporting date and are adjusted to reflect the current best
estimate.

A present obligation that arises from past events where it is either not probable that an outflow of resources will be required
to settle or a reliable estimate of the amount cannot be made, is disclosed as a contingent liability. Contingent liabilities are
also 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.

Claims against the Company where the possibility of any outflow of resources in settlement is remote, are not disclosed as
contingent liabilities.

Contingent assets are not recognized in financial statements since this may result in the recognition of income that may
never be realized.

However, when the realization of income is virtually certain, then the related asset is not a contingent asset and is
recognized.

i) Revenue Recognition

Revenue from sale of goods is recognized when the significant risks and rewards of ownership have been transferred to the
buyer, recovery of the consideration is probable, the associated cost can be estimated reliably, there is no continuing
effective control or managerial involvement with the goods, and the amount of revenue can be measured reliably.

Revenue from rendering of services is recognized when the performance of agreed contractual task has been completed.

Revenue from sale of goods is measured at the fair value of the consideration received or receivable, taking into account
contractually defined terms of payment and excluding taxes or duties collected on behalf of the government.

Revenue from operations includes sale of goods, services and adjusted for discounts (net).

Interest income from a financial asset is recognised using effective interest rate method.

Liquidated damages on account of delay in supply of finished goods is accounted for as and when confirmed / deducted by
the customers.

j) Leases

A right-of-use asset representing the right to use the underlying asset and a lease liability representing the obligation to
make lease payments is recognized for all leases over 1 year on initial recognition basis. Discounted committed & expected
future cash flows and depreciation on the asset portion on straight-line basis & interest on liability portion (net of lease
payments) on EIR basis is recognized over the expected lease term. No right-of-use asset is created for short term leases
(i.e. lease term less than 1 year).

k) Retirement and other employee benefits
Short Term Employee Benefits

The undiscounted amount of short term employee benefits expected to be paid in exchange for the services rendered by
employees are recognized as an expense during the period when the employees render the services.

Post-Employment Benefits

Defined Contribution Plans

The Company recognizes contribution payable to the provident fund scheme as an expense, when an employee renders the
related service. If the contribution payable to the scheme for service received before the balance sheet date exceeds the
contribution already paid, the deficit payable to the scheme is recognized as a liability after deducting the contribution
already paid. If the contribution already paid exceeds the contribution due for services received before the balance sheet
date, then excess is recognized as an asset to the extent that the pre-payment will lead to a reduction in future payment or a
cash refund.

Defined Benefit Plans

The Company pays gratuity to the employees whoever has completed five years of service with the Company at the time of
resignation/superannuation. The gratuity is paid @15 days salary for every completed year of service as per the Payment of
Gratuity Act 1972.

The liability in respect of gratuity and other post-employment benefits is calculated using the Projected Unit Credit Method
and spread over the period during which the benefit is expected to be derived from employees'' services.

Re-measurement of defined benefit plans in respect of post-employment are charged to the Other Comprehensive Income.

l) Income Taxes

Income Tax expenses comprise current tax and deferred tax charge or credit.

Current Tax is measured on the basis of estimated taxable income for the current accounting period in accordance with the
applicable tax rates and the provisions of the Income-tax Act, 1961 and other applicable tax laws.

Deferred tax is provided, on all temporary differences at the reporting date between the tax bases of assets and liabilities and
their carrying amounts for financial reporting purposes. Deferred tax assets and liabilities are measured at the tax rates that
are expected to be applied to the temporary differences when they reverse, based on the laws that have been enacted or
substantively enacted at the reporting date. Tax relating to items recognized directly in equity or OCI is recognized in equity
or OCI and not in the Statement of Profit and Loss. MAT Credits are in the form of unused tax credits that are carried forward
by the Company for a specified period of time, hence it is grouped with Deferred Tax Asset.

Deferred tax assets and liabilities are offset if there is a legally enforceable right to offset current tax liabilities and assets,
and they relate to income taxes levied by the same tax authority, but they intend to settle current tax liabilities and assets on
a net basis or their tax assets and liabilities will be realized simultaneously.

A deferred tax asset is recognized to the extent that it is probable that future taxable profits will be available against which
the temporary difference can be utilized. Deferred tax assets are reviewed at each reporting date and are reduced to the
extent that it is no longer probable.

m) Earnings Per Share

The basic Earnings Per Share ("EPS") is computed by dividing the net profit / (loss) after tax for the year attributable to the
equity shareholders by the weighted average number of equity shares outstanding during the year.

For the purpose of calculating diluted earnings per share, net profit/(loss) after tax for the year attributable to the equity
shareholders and the weighted average number of equity shares outstanding during the year are adjusted for the effects of
all dilutive potential equity shares.

n) Foreign Currency Transactions

In preparing the financial statements of the Company, transactions in currencies other than the Company''s functional
currency (i.e. foreign currencies) are recognized at the rates of exchange prevailing at the dates of the transactions. At the
end of each reporting period, monetary items denominated in foreign currencies are translated at the rates prevailing at that
date. Non-monetary items carried at fair value that are denominated in foreign currencies are translated at the rates
prevailing at the date when the fair value was determined. Non-monetary items that are measured in terms of historical cost
in a foreign currency are translated using the exchange rate as at the date of initial transactions.

Exchange differences on monetary items are recognized in the Statement of Profit and Loss in the period in which they arise
except for:

• exchange differences on foreign currency borrowings relating to assets under construction for future productive use, which
are included in the cost of those assets when they are regarded as an adjustment to interest costs on those foreign currency
borrowings;

• exchange differences relating to qualifying effective cash flow hedges and qualifying net investment hedges in foreign
operations.

o) Financial Instruments

Financial assets and financial liabilities are recognized when a Company becomes a party to the contractual provisions of the
instruments.

Initial Recognition:

Financial assets and financial liabilities are initially measured at fair value. Transaction costs that are directly attributable to
the acquisition or issue of financial assets and financial liabilities (other than financial assets and financial liabilities at fair
value through profit or loss and ancillary costs related to borrowings) are added to or deducted from the fair value of the
financial assets or financial liabilities, as appropriate, on initial recognition. Transaction costs directly attributable to the
acquisition of financial assets or financial liabilities at fair value through profit or loss are recognized immediately in
Statement of Profit and Loss.

Classification and Subsequent Measurement:

Financial Assets

The Company classifies financial assets as subsequently measured at amortized cost, fair value through other comprehensive
income ("FVOCI") or fair value through profit or loss ("FVTPL") on the basis of following:

• the entity''s business model for managing the financial assets; and

• the contractual cash flow characteristics of the financial asset.

Amortized Cost:

A financial asset shall be classified and measured at amortized cost if both of the following conditions are met:

• the financial asset is held within a business model whose objective is to hold financial assets in order to collect contractual
cash flows; and

• the contractual terms of the financial asset give rise on specified dates to cash flows that are solely payments of principal
and interest on the principal amount outstanding.

Fair Value through OCI:

A financial asset shall be classified and measured at fair value through OCI if both of the following conditions are met:

• the financial asset is held within a business model whose objective is achieved by both collecting contractual cash flows and
selling financial assets; and

• the contractual terms of the financial asset give rise on specified dates to cash flows that are solely payments of principal
and interest on the principal amount outstanding.

Fair Value through Profit or Loss:

A financial asset shall be classified and measured at fair value through profit or loss unless it is measured at amortized cost or
at fair value through OCI.

All recognized financial assets are subsequently measured in their entirety at either amortized cost or fair value, depending
on the classification of the financial assets.

Classification and Subsequent Measurement: Financial liabilities:

Financial liabilities are classified as either financial liabilities at FVTPL or ''other financial liabilities''.

Financial Liabilities at FVTPL:

Financial liabilities are classified as at FVTPL when the financial liability is held for trading or are designated upon initial
recognition as FVTPL.

Gains or Losses on liabilities held for trading are recognized in the Statement of Profit and Loss.

Other Financial Liabilities:

Other financial liabilities (including borrowings and trade and other payables) are subsequently measured at amortized cost
using the effective interest method.

The effective interest method is a method of calculating the amortized cost of a financial liability and of allocating interest
expense over the relevant period. The effective interest rate is the rate that exactly discounts estimated future cash
payments (including all fees and points paid or received that form an integral part of the effective interest rate, transaction
costs and other premiums or discounts) through the expected life of the financial liability, or (where appropriate) a shorter
period, to the net carrying amount on initial recognition.

p) Cash and Cash Equivalents

Cash and cash equivalents in the Balance Sheet comprise cash at bank and in hand and short-term deposits with banks that
are readily convertible into cash which are subject to insignificant risk of changes in value and are held for the purpose of
meeting short-term cash commitments.

q) Financial liabilities and equity instruments

• Classification as debt or equity:

Debt and equity instruments issued by the Company are classified as either financial liabilities or as equity in accordance with
the substance of the contractual arrangements and the definitions of a financial liability and an equity instrument.

• Equity instruments:

An equity instrument is any contract that evidences a residual interest in the assets of an entity after deducting all of its
liabilities. Equity instruments issued by a Company are recognized at the proceeds received.

er) Segment Reporting - Identification of Segments

An operating segment is a component of the Company that engages in business activities from which it may earn revenues
and incur expenses, whose operating results are regularly reviewed by the company''s chief operating decision maker to make
decisions for which discrete financial information is available. Based on the management approach as defined in Ind AS 108,
the chief operating decision maker evaluates the Company''s performance and allocates resources based on an analysis of
various performance indicators by business segments and geographic segments.

Fair Value Measurement

Fair value is the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between
market participants at the measurement date, regardless of whether that price is directly observable or estimated using
another valuation technique. In estimating the fair value of an asset or a liability, the Company takes into account the
characteristics of asset and liability if market participants would take those into consideration. Fair value for measurement
and / or disclosure purposes in these financial statements is determined on such basis. Normally at initial recognition, the
transaction price is the best evidence of fair value.

The fair value of an asset or a liability is measured using the assumptions that market participants would use when pricing
the asset or liability, assuming that market participants act in their economic best interest.

A fair value measurement of a non-financial asset takes into account a market participant''s ability to generate economic
benefits by using the asset in its highest and best use or by selling it to another market participant that would use the asset
in its highest and best use.

The Company uses valuation techniques those are appropriate in the circumstances and for which sufficient data are available
to measure fair value, maximizing the use of relevant observable inputs and minimizing the use of unobservable inputs.

All financial assets and financial liabilities for which fair value is measured or disclosed in the financial statements are
categorized 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.

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

Financial assets and financial liabilities that are recognized at fair value on a recurring basis, the Company determines
whether transfers have occurred between levels in the hierarchy by re-assessing categorization at the end of each reporting
period.

s) Current versus Non-current classification

The Company presents assets and liabilities in the Balance Sheet based on current/non-current classification.

i) An asset is current when it is:

• Expected to be realized or intended to be sold or consumed in the normal operating cycle,

• Held primarily for the purpose of trading,

• Expected to be realised within twelve months after the reporting period, or

• Cash or cash equivalent unless restricted from being exchanged or used to settle a liability for at least twelve months
after the reporting period.

All other assets are classified as non-current.

ii) A liability is current when:

• It is expected to be settled in the normal operating cycle,

• It is held primarily for the purpose of trading,

• It is due to be settled within twelve months after the reporting period, or

• There is no unconditional right to defer the settlement of the liability for at least twelve months after the reporting
period.

All other liabilities are classified as non-current.

iii) Deferred tax assets and liabilities are classified as non-current assets and liabilities.

iv) The operating cycle is the time between the acquisition of assets for processing and their realization in cash and cash
equivalents.

Critical accounting judgements and key sources of estimation uncertainty

The preparation of the Company''s financial statements requires management to make judgements, estimates and
assumptions that affect the reported amounts of revenues, expenses, assets and liabilities, and the accompanying
disclosures, and the disclosure of contingent liabilities. Uncertainty about these assumptions and estimates could result in
outcomes that require a material adjustment to the carrying amount of assets or liabilities affected in future periods.

Key assumptions:

The key assumptions concerning the future and other key sources of estimation uncertainty at the reporting date, that have a
significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial
year, are described below. The Company based its assumptions and estimates on parameters available when the financial
statements were prepared. Existing circumstances and assumptions about future developments, however, may change due to
market changes or circumstances arising that are beyond the control of the Company. Such changes are reflected in the
assumptions when they occur.

i) Useful Lives of Property, Plant & Equipment

The Company uses its technical expertise along with historical and industry trends for determining the economic life of
an asset/component of an asset. The useful lives are reviewed by management periodically and revised, if appropriate.
In case of a revision, the unamortized depreciable amount is charged over the remaining useful life of the assets.

ii) Fair value measurement of financial instruments

When the fair values of financial assets and financial liabilities recorded in the balance sheet cannot be measured based
on quoted prices in active markets, their fair value is measured using valuation techniques including the Discounted
Cash Flow model. The inputs to these models are taken from observable markets where possible, but where this is not
feasible, a degree of judgement is required in establishing fair values. Judgements include considerations of inputs such
as liquidity risk, credit risk and volatility.

iii) Recoverability of Trade Receivable

Judgements are required in assessing the recoverability of overdue trade receivables and determining whether a
provision against those receivables is required. Factors considered include the credit rating of the counterparty, the
amount and timing of anticipated future payments and any possible actions that can be taken to mitigate the risk of non¬
payment.

iv) Provisions

Provisions and liabilities are recognized in the period when it becomes probable that there will be a future outflow of
funds resulting from past operations or events and the amount of cash outflow can be reliably estimated. The timing of
recognition and quantification of the liability requires the application of judgement to existing facts and circumstances,
which can be subject to change. The carrying amounts of provisions and liabilities are reviewed regularly and revised to
take account of changing facts and circumstances.

v) Impairment of non-financial assets

The Company assesses at each reporting date whether there is an indication that an asset may be impaired. If any
indication exists, the Company estimates the asset''s recoverable amount. An asset''s recoverable amount is the higher
of an asset''s or Cash Generating Units (CGU''s) fair value less costs of disposal and its value in use. It is determined for
an individual asset, unless the asset does not generate cash inflows that are largely independent of those from other
assets or a groups of assets. Where the carrying amount of an asset or CGU exceeds its recoverable amount, the asset
is considered impaired and is written down to its recoverable amount.

In assessing value in use, the estimated future cash flows are discounted to their present value using pre-tax discount
rate that reflects current market assessments of the time value of money and the risks specific to the asset. In
determining fair value less costs of disposal, recent market transactions are taken into account, if no such transactions
can be identified, an appropriate valuation model is used.

vi) Impairment of financial assets

The impairment provisions for financial assets are based on assumptions about risk of default and expected cash loss
rates. The Company uses judgement in making these assumptions and selecting the inputs to the impairment
calculation, based on Company''s past history, existing market conditions as well as forward looking estimates at the
end of each reporting period.

Recent accounting pronouncements:

Ministry of Corporate Affairs ("MCA") notifies new standards or amendments to the existing standards under Companies
(Indian Accounting Standards) Rules as issued from time to time. For the year ended March 31, 2024, MCA has not notified
any new standards or amendments to the existing standards applicable to the Company.

28 Financial Risk Management (Ind AS 1)

The Company''s principal financial liabilities comprise borrowings, trade and other payables.

The main purpose of these financial liabilities is to finance the operations of the Company. The principal financial assets include trade and other receivables, investments and cash and short term deposits.

The Company has assessed market risk, credit risk and liquidity risk to its financial liabilities.

i) Market Risk

Market Risk is the risk of loss of future earnings, fair values or cash flows that may result from a change in the price of a financial instrument, as a result of interest rates, foreign exchange rates and other price risks. Financial instruments affected
by market risks, primarily include loans and borrowings, investments and foreign currency payables.

a) Interest Rate Risks

Interest rate risk is the risk that the fair value or future cash flows of a financial instrument will fluctuate because of changes in market interest rates. The Company is able to obtain the cheaper source of funds. Interests on borrowings subject to
floating interest rate are re-priced regularly. The sensitivity analysis detailed below have been determined based on the exposure to variable interest rates on the average outstanding amounts due to bankers over a year.

If the interest rates had been one per cent higher / lower and all other variables held constant, the Company''s profit for the year would have been decreased / increased by ? 2.00 Lakhs (31st March 2023: ? 7.68 Lakhs).

b) Foreign Currency Risks

Foreign currency risk is the risk that the fair value or future cash flows of an exposure will fluctuate due to changes in foreign exchange rates.

The Company had no monetary foreign currency exposure as on 31st March, 2024 and accordingly sensitivity analysis is not warranted.

c) Price Risks

The Company''s revenues are mainly generated from sales within India and the raw materials are procured through import and local purchases where local purchases track import parity price. The Company is affected by the price stability of
certain commodities. Due to the significantly increased volatility of certain commodities, the Company enters into contract with the customers that has provision to pass on the change in the raw material prices and also the volatility in the
exchange rate.

The Company has a risk management framework aimed at prudently managing the risk arising from the volatility in commodity prices and other costs.

ii) Credit Risk

Credit Risk is the risk that a counterparty will default on its contractual obligations resulting in a financial loss to the Company. It arises from credit exposure to customers, financial instruments viz., Investments in Equity Shares, Debt Funds and
Balances with Banks.

The Company holds cash and cash equivalents with banks which are having highest safety rankings and hence has a low credit risk.

The Company limits its exposure to credit risk by generally investing only with counterparties that have a good credit rating. The Company does not expect any losses from non-performance by these counterparties, and does not have any
significant concentration of exposures to specific industry sectors or specific country risks.

The Company''s exposure to credit risk is influenced mainly by the individual characteristics of each customer. The demographics of the customer, including the default risk of the industry and country in which the customer operates, also has an
influence on credit risk assessment. Credit risk is managed through credit approvals, establishing credit limits and continuously monitoring the creditworthiness of customers to which the Company grants credit terms in the normal course of
business. All outstanding trade receivables were due for a period exceeding 180 days as at the year ended 31st March, 2024 as well as as at 31st March, 2023. The company uses Expected Credit Loss (ECL) Model to assess the impairment loss or
gain.

iii) Liquidity Risk

The Company manages liquidity risk by maintaining adequate surplus, banking facilities and reserve borrowings facilities by continuously monitoring forecasts and actual cash flows.

The Company has obtained fund and non-fund based working capital lines from banks. The Company monitors funding options available in the debt and capital markets with a view to maintaining financial flexibility. All payments are made along
due dates and requests for early payments are entertained after due approval and availing early payment discounts.

The Company has a system of forecasting rolling one month cash inflow and outflow and all liquidity requirements are planned.

48 The Company continues to explore various options to raise additional finance to improve operating efficiency at plant in order to meet its short term and long term obligations.

49 Pursuant to the application filed by Ingenia FZE under Section 9 of the Insolvency and Bankruptcy Code, 2016, as amended from time to time ("IBC/ Code"), the Corporate Insolvency Resolution Process ("CIRP") was initiated against the
Company, by the Hon''ble NCLT vide its order dated 12 December 2019. NCLT has passed order approving the Resolution Plan dated 21 March 2023.

Pursuant to the Resolution plan, the Company has fixed the record date as 25 September 2023 for the purpose of effecting the extinguishment of Equity Shares. Further, the Company has received consideration amount of Rs.415.00 Lakhs from
Resolution Applicant towards acquisition of equity shares of the Company.

50 In the Opinion of the Board of Directors, the provision for all known liabilities is adequate and not in excess of the amount reasonably necessary.

51 a) Pursuant to the amendments to Schedule III vide MCA circular dated March 24, 2021, figures are disclosed in ? in Lacs.

b) Previous year''s figures have been regrouped/rearranged/reclassified, wherever considered necessary, to make it comparable with current year''s figures.

As per our report of even date attached

For and on behalf of For and on behalf of Board of Directors

Karnavat & Co.

Chartered Accountants

Firm Registration No. 104863W

Sd/- Sd/-

(Gaurishankar Jhalani) (Sanjav Kumar Jain)

Sd/- ^Director Whole Time Director & CFO

(Viral Joshi) DIN : 00126216 DIN : 0313886

Partner

Membership No. 137686 Sd/_-

Place : Mumbai (Shilpa Satra)

Date: May 25, 2024 Company Secretary

UDIN : 24137686BKASVB9880 ACS A45953

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Mar 31, 2015

1. Rights of Equity Share Holders : The company has only one class of equity shares having face value of Rs 10 per share. Each holder of equity shares is entitled to one vote per share. Equity shareholders are also entitled to dividend as and when proposed by the Board of Directors and approved by share holders in Annual General Meeting. In the event of liquidation of the Company, the holders of equity shares will be entitled to receive remaining assets of the company, after distribution of all preferential amounts which shall be in proportion to the number of shares held by the shareholders.

2. Term Loan

a) Term Loan from bank are secured against primary charge of Mould/Equipments purchase out of term loan finance and secured by way of collateral security by registered mortgage of land and building at Arav village(Khopoli), Pukkathurai village(Chengalput) and hypothecation residual value of plant & machineries of the company.

3. Term Loan from NBFC are secured against immovable properties of Director and personal gurantee of Director.

4. Vehicle loan secured by hypothecation of respective vehicle.

5. Working capital loan from bank are secured against hypothecation of raw material, finished goods, WIP, consumables stores at factories of the Company at Arav, Pukkathurai & Hubli and receivable books debts and further secured by collateral security by registered mortgage of the factory land & building at Arav, Pukkathurai and hypothecation of fixed assets of the Company including machinery installation in the Company factories at Arav, Pukkathurai & Hubli and furnitures & fixtures.

6. The company has not received the required information from the vendors regarding their status under the Micro, Small and Medium Enterprises development Act, 2006. Hence disclosures , if any relating to amounts unpaid as at the year end together with interest paid/payable as required under the said act have not been made.

Defined Benefit Plan

The company provides gratuity benefit to it's employees which is a defined benefit plan. The present value of obligation is determined based on actuarial valuation using the Projected Unit Credit Method, which recognizes each period of service as giving rise to additional unit of employee benefit entitlement and measures each unit separately to build up the final obligation. The obligation for Compensated Absences is recognized in the same manner as gratuity.

7. Segment Reporting

From the current year, the Company has identified two reportable segments viz. Plastic Products and Trading in various products. Segment have been identified and reported taking in to account nature of products and the differing risks and returns.. The Accounting policies are adopted for segment are in line with the accounting policy of the company with following additional policies for segment reporting.

a) Revenue and expenses have been identified to a segment on the basis of relationship to operating activities of the segment.

b) Segment assets and segment liabilities represent assets and liabilities in respectiv segments.

8. Deferred tax Asset consist mainly of carried forward loss, and depreciation. As a matter of prudence,the Company has not recognised Deferred Tax Asset in accounts.

(i) List of related parties where control exists and related parties with whom transactions have taken place and relationships:

SNo. Name of the Related Party Relationship

1 Ambani Sales Organisation Enterprises over which Key Managerial Personnel are able to exercise significant influence

2 Mukesh B. Ambani Key Managerial Personnel

3 Pratik M. Ambani Relative of Key Managerial Personnel

9. The previous year figures have been regrouped / reclassified, wherever necessary to conform to the current year presentation.

10. In current fiscal year, company was faced with the liquidity issues due to limited working capital. Company could not ensure the steady supply of raw materials due to limited working capital which resulted into lower operations and the losses during the year. The networth of the Company as at 31 st March, 2015 has been eroded. Company has managed to raise additional loans from financial institutions which have improved the operations, in the latter part of the year.

Company continues to explore various options to raise additional finance and is exploring various options to dispose of surplus immovable properties, concentration of operations at few plants to improve operating efficiency in order to meet its short term and long term obligations. Although there exist material uncertainty in accomplishing these options, these financial statements have been prepared on a going concern basis.

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Mar 31, 2014

1. Terms : The company has only one class of equity shares having face value of Rs 10 per share. Each holder of equity shares is entitled to one vote per share. Equity shareholders are also entitled to dividend as and when proposed by the Board ofDirectors and approved by share holders in Annual General Meeting. In the event of liquidation of the Company, the holders of equity shares will be entitled to receive remaining assets of the company, after distribution of all preferential amounts which shall be in proportion to the number of shares held by the shareholders.

2.I Term Loan

Term Loan from bank are secured by against primary charge of Mould/Equipments purchase out of term loan finance and secured by way of collateral security by registered mortgage of land and building at Arav village(Khopoli), Pukkathurai village(Chegalput) and hypothecation residual charge on plant & machineries of the company.

II. Vehicle loan secured by hypothecation of respective vehicle

3. Working capital loan from bank are secured against hypothecation of raw material, finished goods, WIP, consumables stores at factories of the Company at Arav, Pukkathurai & Hubli and receivable books debts and further secured by collateral security by registered mortgage of the factory land & building at Arav, Pukkathurai and hypothecation of fixed assets of the Company including machinery installation in the Company factories at Arav, Pukkathurai and Hubli and furnitures & fixtures.

4. The company has not received the required information from the vendors regarding their status under the Micro, Small and Medium Enterprises development Act, 2006. Hence disclosures , if any relating to amounts unpaid as at the year end together with interest paid/payable as required under the said act have not been made.

5. Inventories are valued at lower of cost and net realisable value.

6. Defined Benefit Plan

The company provides gratuity benefit to it''s employees which is a defined benefit plan. The present value of obligation is determined based on actuarial valuation using the Projected Unit Credit Method, which recognizes each period of service as giving rise to additional unit of employee benefit entitlement and measures each unit separately to build up the final obligation. The obligation for leave encashment is recognized in the same manner as gratuity.

7. In the opinion of the management the company is mainly engaged in the business of plastic processing in india. All other activities of the company revolve around the main business and as such, there are no separate reportable segments.

8. Deferred tax Asset consist mainly of carried forward loss, and depreciation. As a matter of prudence, the company has not recognised deferred tax asset in accounts.

9. The previous year figures have been regrouped / reclassified, wherever necessary to confirm to the current year presentation.

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Mar 31, 2013

1 In the opinion of the management the company is mainly engaged in the business of plastic processing in India. All other activities of the Company revolve around the main business, and as such, there are no separate reportable segments.

2 Deferred tax Asset consist mainly of carried forward loss, and depreciation. As a matter of prudence, the Company has not recognized Deferred Tax Asset in Accounts.

3 Project Development Expenditure

(in respect of Projects up to 31st March, 2013, included under Capital work-in-progress and Intangible assets under development)

1 Remuneration paid to Key Management Personnel Mr. Mukesh B. Ambani Rs. 726,750 (Previous Year Rs. 495,252)

2 Remuneration paid to Relative of Key Management Personnel Mr. Pratik M. Ambani Rs. 211,699 (Previous Year Rs. 120,000)

3 Remuneration paid to Relative of Key Management Personnel Mr. Varun M. Ambani Rs. 144,200 (Previous Year Rs. NIL)

4 The previous year figures have been regrouped / reclassified, wherever necessary to conform to the current year presentation.

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Mar 31, 2012

1.1 Terms: The company has only one class of equity shares having face value of Rs 10 per share. Each holder of equity shares is entitled to one vote per share. Equity shareholders are also entitled to dividend as and when proposed by the Board of Directors and approved by Share holders in Annual General Meeting. In the event of liquidation of the Company, the holders of Equity shares will be entitled to receive remaining assets of the Company, after distribution of all preferential amounts which shall be in proportion to the number of shares held by the Shareholders.

1.1 Term Loan

a) Term Loan from bank are secured against hypothecation of raw material, finished goods, WIP, consumables stores at factories of the Company at Arav, Pukkathurai & HubH and receivable books debts and further secured by collateral security by registered mortgage of the factory land & building at Arav, Pukkathurai and hypothecation of fixed assets of the Company including machinery installation in the Company factories at Arav, Pukkathurai & HubH and furnitures & fixtures

b) Term Loan are repayable for the period of 3 to 5 years

2.1 Working capital loan from bank are secured against hypothecation of raw material, finished goods, WIP, consumables stores at factories of the Company at Arav, Pukkathurai & HubH and receivable books debts and further secured by collateral security by registered mortgage of the factory land & building at Arav, Pukkathurai and hypothecation of fixed assets of the Company including machinery installation in the Company factories at Arav, Pukkathurai & Hubil and furnitures & fixtures

The estimates of rate of escalation in salary considered in acturial valuation, take in account inflation, seniority, promotuin and other relevant factors including supply and demand in the employment market. The above information is certified by the actuary.

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Mar 31, 2011

1. The Previous year's figures have been reworked, regrouped, re-arranged and re-classified wherever necessary.

2. Debtors, Creditors, Loans and Advances balances are subject to confirmation from the respective parties.

3. Gross Block of Fixed Assets of Rs.26,66,149/- was revalued in past. Consequent to the said revaluation there is an additional charge of depreciation of Rs. Nil (Previous Year Rs.1,53,836/-) for the year and the equivalent amount has been withdrawn from the revaluation Reserves.

4. Deposits include Rs.1,65,57,126/- (Previous Year Rs. 1,68,65,199/-) paid in earlier years against use of Office Premises to partnership firm in which director was a partner.(Since then firm is converted in sole proprietor ship of director)

5. In the opinion of the management the company is mainly engaged in the business of plastic processing in India. All other activities of the Company revolve around the main business, and as such, there are no separate reportable segments.

6. Managerial Remuneration

Remuneration to directors in accordance with the conditions specified in Schedule XIII of the Companies Act, 1956.

7. Related Party Disclosures

List of related parties with whom transactions have taken place during the year.

i) Associates:

a) Ambani Sales Organisation - Enterprises in which

- Directors are interested

ii) Key Managerial Personnel & Relative :

a) Bhupendra J. Ambani - Chairman

b) Mukesh B. Ambani - Managing Director

c) Pratik Ambani - Relative of Director

8. Disclosures as per Accounting Standard 15 (Revised) "Employee Benefits"

(a) Defined Contribution Plan, expenses for the year are as under:

Employer's Contribution to Provident and Pension Fund Rs. 3,81,592/- (P.Y. Rs. 3,16,407/-) and ESIC Rs. 85,957/- (P.Y. Rs.43,303/-)

The Company makes contributions towards provident fund and pension fund for qualifying employees to the Regional Provident Fund Commissioner and ESIC to Regional Director of ESIC.

b) Defined Benefit Plan:

The company provides gratuity benefit to it's employees which is a defined benefit plan. The present value of obligation is determined based on actuarial valuation using the Projected Unit Credit Method, which recognizes each period of service as giving rise to additional unit of employee benefit entitlement and measures each unit separately to build up the final obligation. The obligation for leave encashment is recognized in the same manner as gratuity.

The estimates of rate of escalation in salary considered in actuarial valuation, take in account inflation, seniority, promotion and other relevant factors including supply and demand in the employment market. The above information is certified by the actuary.

9. Deferred Tax

* Note : Excess of deferred tax assets over deferred tax liabilities has not been given effect to in the balance sheet and deferred tax assets (net) is recognized only to the extent of deferred tax liability on a conservative basis.

10. Additional information pursuant to Paragraphs 3, 4C, 4D of Part II of Schedule VI of Companies Act, 1956:

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Mar 31, 2010

1. Provision, Contingent Liabilities and Contingent Assets

Provisions involving substantial degree of estimation in measurement are recognised when there is a present obligation as a result of past events and it is probable that there will be an outflow of resources. Contingent Liabilities are not recognised but are disclosed in the notes. Contingent Assets are neither recognised nor disclosed in the financial statements.

2. The Previous years figures have been reworked, regrouped, re-arranged and re-classified wherever necessary.

3. Debtors, Creditors, Loans and Advances balances are subject to confirmation from the respective parties.

4. Cross Block of Fixed Assets of Rs.26,66,149/- was revalued in past. Consequent to the said revaluation there is an additional charge of depreciation of Rs. 1,53,836/- (Previous Year Rs. 1,53,8367-) for the year and the equivalent amount has been withdrawn from the revaluation Reserves.

5. Deposits include Rs. 1,68,65,199/- paid in earlier years against use of Office Premises to partnership firm in which director was a partner.(Since then firm is converted in sole proprietor ship of existing director)

6. In the opinion of the management the company is mainly engaged in the business of plastic processing in India. All other activities of the Company revolve around the main business, and as such, there are no separate reportable segments.

7. Managerial Remuneration

8. Disclosures as per Accounting Standard 15 (Revised) "Employee Benefits"

(a) Defined Contribution Plan, expenses for the year are as under:

Employers Contribution to Provident and Pension Fund Rs. 3,16,407/- (P.Y. Rs. 3,04,221/-) and ESIC Rs. 43,303/-(P. Y.Rs.58,505/-)

The Company makes contributions towards provident fund and pension fund for qualifying employees to the Regional Provident Fund Commissioner and ESIC to Regional Director of ESIC.

Note: Excess of deferred tax assets over deferred tax liabilities has not been given effect to in the balance sheet as deferred tax assets (net) is recognized at that assets only to the extent of deferred tax liability on a conservative basis.