Notes to Accounts of Landmark Property Development Company Ltd.

Mar 31, 2025

General Reserve

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

Capital Reserve

Arising out of demerger of Real Estate Undertaking as on 01st January 2007 of OCL India Limited, effective date being 20th December 2007. Retained Earnings

Retained Earnings represents the profits that the company has earned till date, less any transfer to general reserve, dividends or other distributions to shareholders etc.

Font Notes-

1) The party has neither delivered the property nor refunded the amount of capital advance given by the Company. The Company has tiled a complaint u/s 138 of the Negotiable Instruments Act 1881 which is pending before the Honble Court.

Further, an Arbitration was also invoked in this regard wherein a joint compromise application has been filed under Section 30 of the Arbitration and Conciliation Act, 1996 for passing the consent award. As per the terms of above-mentioned application, the party has confirmed the execution and registration of sale / lease / conveyance deeds, at their sole cost and handover of physical possession of the Commercial Units within a period of 18 months from the date of filling the application i.e. 19th March 2024.

2) A Business Transfer Agreement was signed on the 2nd April 2012 between Ansal Landmark Townships Pvt. Ltd., (ALTPL); Ansal Landmark (Karnal) Township Pvt. Ltd. (ALKTPL) & Ansal Properties & Infrastructure Ltd. Pursuant to the same, advances of Rs.4,993.74 lacs/- (including accrued interest up to June 30, 2008), which Landmark Property Development Co. Ltd. ("the Company) had given to ALTPL stood transferred to a new entity set up to run the Karnal project, viz. ALKTPL.

Following this new arrangement, the Company was entitled to get allotment of Plots / Flats in Group Housing / Row Housing / Commercial property in the ongoing residential township being developed by ALKTPL at Karnal, vide an Agreement dated 16th May, 2013 as amended from time to time, pursuant of which ALKTPL was required to allot the plots & flats, etc. at Karnal to the Company by 31st March 2024 which is still pending.

During the year, the Company has extended the period for allotment of plots, flats etc till 31st March 2027 based on request received from ALKTPL as it has received in principle approval from the Director Town and Country Planning, Haryana, for name change of developer in favour of ALKTPL, with additional commitment from ALKTPL that it would prioritise the allotments to the Company over other customers. Further, the Company expects that the development of the project would get expedited since the Company’s promoter / promoter group entities have acquired entire shareholding of ALKTPL during FY 2022-23 and it would receive the plots / flats in due course.

In view the substantial time lapsed in the completion of transaction and adverse financial position of the ALKTPL as per their latest audited financial statements, the Company has internally reviewed the matter and on the ground of prudence and conservative principle, it has considered appropriate to make a provision of Rs.400.00 lacs during FY 2024-25 (Rs.1200.00 lacs during the FY 2023-24).

The amount of space booking advance outstanding from Ansal Landmark (Karnal) Township Pvt. Ltd. is Rs.3526.15 lacs (gross) (Net - Rs.1926.15 lacs after making a provision of Rs. 1600.00 lacs) as at 31st March 2025.

e. 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. The distribution will be in proportion to the number of equity shares held by the equity share holders.

f. The Company has neither issued any bonus shares nor it has carried out buy-back of equity shares in the preceding 5 years.

27 Capital Commitments and Contingencies

a. Estimated amount of contracts remaining to be executed on capital account not provided for (Net of Advances) - Nil (PY - Nil).

b. Contingent Liabilities and not provided for

ine uompany naa receivea a demand nonce ounng me Tinanciai year zuzt-zz, in respect ot laiaDasia i-ireciay Mines Trom ine unice ot me

MiningOfncerofGovemmentofOdishaamountingtoRs.105.90lacsfortheallegedexcessextraction/productionofmineralsoverthequantity

permittedundertheminingplan/scheme,environmentalorconsenttooperateandotherstatutorypermissionsduringtheyear2000-01to2010-

11underSection21(5)ofMines&Minerals(DevelopmentandRegulation)Act,1957(ⁱActⁱ).TheCompanyisoftheviewthatallroyaltyandother

duesweredulypaidtotheStateGovernmentduringtheperiodthesaidminewasoperationalandthemineralswereusedforcaptivepurposeonly

intheirrefractoryunit.TheCompanyhasfiledanappealon09.03.2022beforetheDirectorofMines,BbubaneswaragainstDemandNoticedated

03.01.2022 for Rs.105.90 lacs with a prayer:-(i)call therecords from the concernedcompetent authority;(ii) Quashthe DemandNotice dated

03.01.2022andasaninterimmeasurestaytherecoveryofdemandtillthedisposaloftheappeal.Thehearingwascompletedon22.06.2022and

order has been reserved.

Further, theCompanyhasreceivedaletterdated08thNovember,2023fromDeputyDirectorofMines,CuttackCircle,Cuttackrequestingtopay Rs.13.05lacstowardsdifferentialDeadRentoutstandingagainstTalbastaFireclayminesfortheperiodJuly,2010toDec''2014asapartofAudit objectionattheirend.TheCompanyhasrespondedthesamevideletteron05thDecember,2023 withclarification thatno amountis payable,

sincetheleaseofthemineswasexpiredwaybackon06thJanuary,2005.TheCompanyhasfiledaWritPetitionagainsttheaforesaiddemandof Rs.13.05LacsinHon''bleHighCourtofOrissa,Cuttckforquashingthedemandandsubsequenttothebalancesheetdate,ithasreceivedastay

nrrier nn thp Hpmanrl till 9Qth .lnlv

ii) The Deputy Director of Mines, Odisha has taken over the above mines on 23.09.2015 without completing the mining closure formalities which remains pending as at 31.03.2025. Liability, if any, towards restoration and rehabilitation work at the mine site post completion of closure formalities may arise which would be provided for as and when demanded.

The Company does not expect any cash outflow arising out of these matters as and when this case is ultimately decided.

The estimates of future salary increases, considered in actuarial valuation, take into account inflation, seniority, promotion and other relevant factors including supply and demand in the employment market.

Significant actuarial assumption for the determination of the defined obligation are discounted rate, expected salary escalation rate and withdrawal

rate.Thesensitivityanalysesbelowhavebeendeterminedbasedonreasonablypossiblechangesoftherespectiveassumptionoccurringatthe

end of the reporting period, while holding all other assumptions constant.

Sensitivity due to mortality and withdrawals are not material & hence impact of change not calculated.

Sensitivity as to rate of inflation, rate of increase of pensions in payment, rate of increase of pensions before retirement and life expectancy are not applicable being a lump sum benefit on retirement.

The Company has employed 1 employee on its payroll during the year and as at 31 st March 2025.

Since there are no financial assets or financial liabilities at the balance sheet date for which amortized cost is adopted therefore classification of hierarchy of amortized cost of financial instruments is not required to be given.

ii) Financial Risk Management Objectives

The Company’s Corporate Treasury function provides services to the business, co-ordinates access to domestic and international financial marketsincludingmarketrisk(includingcuiTencyrisk,interestrateriskandotherpricerisk),creditrisk andliquidityrisk.Duringtheyearthe

Companydoesnothaveanyexposurefromtheinternationalmarketandaccordinglythereisnoforeigncurrencyreceivableandpayableatthe year end.

Market Risk

The Company''s activities expose it primarily to the financial risks of changes in interest rates and foreign currency exchange rates.

a) Foreign Currency risk management

The Company has not undertaken any transactions denominated in foreign currencies during the year and it does not have any foreign currency exposures as at 31st March 2025 and 31st March 2024.

b) Interest Rate risk management

The Company is not exposed to change in market interest rate risks as company is not borrowing funds. The Company is only lending the funds at fixed rate of interest and accordingly there is no exposure to variance in market rate of interest.

c) Liquidity risk management

Ultimate responsibility for liquidity risk management rests with the board of directors, which has established an appropriate liquidity risk management framework for the management of the company''s short-term, medium-term and long-term funding and liquidity managementrequirements.TheCompanymanagesliquidityriskbymaintaining adequate reservesand bycontinuouslymonitoringforecast

and actual cash flows, and by matching the maturity profiles of financial assets and liabilities.

Credit Risk

Credit Risk refers to risk of financial loss to the Company if a customer or a counter-party fails to meet its contractual obligations. The Company has following categories of financial assets that are subject to credit risk evaluation:

a) Investment

The Company has made investment in Deposit with banks, etc. Funds are invested in accordance with the Company''s established Investment

policythatincludesparametersofsafety.liquidityandposttaxretums.TheCompanyavoidstheconcentrationofcreditriskbyspreadingthem

over several counterparties with good credit rating profile and sound financial position. The Company''s exposure and credit ratings of its

counterpartiesaremonitoredonanongoingbasis.Basedonhistoricalexperienceandcreditprofilesofcounterparties.thecompanydoesnot

expect any significant risk of default.

b) Trade Receivables

Credit risk arising from trade receivables is managed in accordance with the Company''s established policy with regard to credit limits, control andapprovalpnocedures.ThecompanyprovidesforexpectedcreditlossesontradereceivablesbasedonasimplifiedapproachasperlndAS 109.Underthisapproach,expectedcreditlossesarecomputedbasistheprobabilityofdefaultsoverthelifetimeoftheassets.Thisallowanceis measured taking into account credit profile ofthe customer,geographical spread,trade channels,past experienceof defaults,estimates for future uncertainties etc.

There are no trade receivables as on 31st March 2025 and 31st March 2024, thus there are no movement during the year.

c) Loans and Other Financial Assets

Loansincludeinter-corporateloansincludingaccruedinterestandotherfinancialassets.Basedonhistoricalexperienceandcreditprofilesof counterparties, the company expect significant risk of default and made provisions for Expected Credit Loss.

The Company''s maximum exposure to credit risk for each categories of financial assets is their carrying values as at the reporting dates.

iii) Fair value measurement

Financial Assets and Liabilities measured at Amortised Cost

The carrying amount of financial assets and financial liabilities measured at amortised cost in the financial statements are reasonable

approximationoftheirfairvaluessincetheCompanydoesnotanticipatethatthecarryingamountwouldbesignificantlydifferentfromthevalue

that would eventually be received or settled.

Advances of Rs.3526.15 Lacs (PY Rs. 3759.15 Lacs) (refer Note 5) are outstanding from Private Limited Companies in which Mr Gaurav Dalmia.ManagingDirectorisamember/director.Partofthesebalancesweretakenoveronde-mergerofRealEstateundertakingofOCLIndia Limited, theeffectivedatebeing20thDecember2007andpartoftheseweregivenbeforeMrGauravDalmiawasappointedastheDirectorof the company w.e.f. 29th January, 2008.

33 Corporate social responsibility (CSR)

The provisions of Corporate social responsibility (CSR ) expenses as per Section 135 of the Companies Act 2013 are not applicable to the Company.

34 Additional disclosure / Regulatory Information as required bv Notification no. GSR 207fEl dated 24.03.2021

(i) The Company does not have any Benami property, where any proceeding has been initiated or pending against the Company for holding any Benami property.

(ii) The Company does not have any transactions or balances with companies whose name has been struck off.

(iii) The Company does not have any charges or satisfaction which is yet to be registered with ROC beyond the statutory period.

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

(v) The Company has not advanced or loaned or invested funds in any other person(s) or entity(ies), including foreign entities (Intermediaries) with the understanding that the Intermediary shall (a) Directly or indirectly lend or invest in other persons or entities identified in any manner whatsoever byor on behalf of the Company(Ultimate Beneficiaries) or (b) Provide anyguarantee, securityor the liketo oron behalfof the ultimate beneficiaries.

(vi) The Company has not received any fund from any person(s) or entity(ies), including foreign entities (Funding Party) with the understanding (whetherrecordedinwritingorotherwise)thatthecompanyshall:(a)Directlyorindirectlylendorinvestinotherpersonsorentitiesidentifiedin anymannerwhatsoeverbyoronbehalfoftheFundingParty(UltimateBeneficiaries)or(b)Provideanyguarantee,securityorthelikeonbehalf

of the ultimate beneficiaries.

(vii) There is no such income which has not been disclosed in the books of accounts. No such income is surrendered or disclosed as income during the year in the tax assessments under Income Tax Act, 1961.

(viii) The Company has no subsidiary, associates and joint ventures.

(ix) The Company has not been declared as wilful defaulter by any bank or financial institutions.

(xii) No scheme of arrangements has been approved by the competent authority in terms of section 230 to 237 of the Companies Act, 2013.

35 Previous year figures have been regrouped/ re-classified wherever necessary to correspond with the current year''s classification/ disclosure.

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Mar 31, 2024

o) Provisions & Contingencies

Provisions are recognised when the company has a present obligation (legal or constructive) as a result of a past event, it is probable that the company will be required to settle the obligation, 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. When a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when the effect of the time value of money is material). When some or all of the economic benefits required to settle a provision are expected to be recovered from a third party, a receivable is recognised as an asset if it is virtually certain that reimbursement will be received and the amount of the receivable can be measured reliably.

p) Contingent Liabilities

A contingent liability is a possible obligation that arises from past events whose existence will be confirmed by occurrence or nonoccurrence of one or more of uncertain future events beyond the control of company or a present obligation that is not recognized because it is not probable that an outflow of resources swill be required to settle the an obligation. A contingent liability also arises in the extremely rare cases where there is a liability that cannot be recognized because it cannot be measured reliably its existence in the financial statements. Company does not recognize the contingent liability but disclosed its existence in financial statements.

q) Cash and Cash Equivalents

Cash and cash equivalents for the purposes of cash flow statement comprise of cash at bank and cash in hand and short-term investments with an original maturity of three months or less. Bank overdrafts are shown within borrowings in current liabilities in the balance sheet and forms part of financing activities in the cash flow statement. Book overdraft are shown within other financial liabilities in the balance sheet and forms part of operating activities in the cash flow statement.

r) Segment Reporting Operating segments

Ind AS 108 "Operating Segment" (“Ind AS 108") establishes standards for the way that public business enterprises report information about operating segments and related disclosures about products and services, geographic areas, and major customers. Based on the "management approach" as defined in Ind AS 108, Operating segments are to be reported in a manner consistent with the internal reporting provided to the Chief Operating Decision Maker (CODM).The CODM evaluates the Company''s performance and allocates resources on overall basis. The Company''s sole operating segment is therefore primarily Real Estate Development . Accordingly, there are no additional disclosure to be provided under Ind AS 108.

Foot Note

1) The party has neither delivered the property nor refunded the amount of capital advance given by the Company. The Company has filed a complaint u/s 138 of the Negotiable Instruments Act 1881 which is pending before the Hon''ble Court.

Further, an Arbitration was also invoked in this regard wherein a joint compromise application has been filed under Section 30 of the Arbitration and Conciliation Act. 1996 for passing the consent award. As per the terms of above-mentioned application, the party has confirmed the execution and registration of sale / lease / conveyance deeds, at their sole cost and handover of physical possession of the Commercial Units within a period of 18 months from the date of filling the application i.e. 19.03.2024. The above-mentioned application is pending before the Ld.

2) A Business Transfer Agreement was signed on the 2nd April 2012 between Ansal Landmark Townships Pvt. Ltd., (ALTPL); Ansal Landmark (Kamal) Township Pvt. Ltd. (ALKTPL) & Ansal Properties & Infrastructure Ltd. Pursuant to the same, advances of Rs.4,993.74 lacs/- (including accrued interest up to June 30. 2008), which Landmark Property Development Co. Ltd. (the Company) had given to ALTPL stood transferred to a new entity set up to run the Kamal project, viz. ALKTPL.

Following this new arrangement, the Company was entitled to get allotment of Plots / Flats in Group Housing / Row Housing / Commercial property in the ongoing residential township being developed by ALKTPL at Kamal, vide an Agreement dated 16th May, 2013 as amended from time to time, pursuant of which ALKTPL was required to allot the plots & flats, etc. at Karnal to the Company by 31st March 2024 which is still pending.

During the year, the Company has extended the period for allotment of plots, flats etc till 31st March 2027 based on request received from ALKTPL as it has received in principle approval from the Director Town and Country Planning, Haryana, for name change of developer in favour of ALKTPL, with additional commitment from ALKTPL that it would prioritise the allotments to the Company over other customers. Further, the Company expects that the development of the project would get expedited since the Company''s promoter / promoter group entities have acquired entire shareholding of ALKTPL during FY 2022-23 and it would receive the plots / flats in due course.

In view the substantial time lapsed in the completion of transaction and adverse financial position of the ALKTPL as per their latest audited financial statements, the Company has intemallv reviewed the matter and on the ground of prudence and conservative principle, it has

3) This advance was transferred to the Company at the time of de-merger of Real Estate undertaking of OCL India Limited, the effective date being 20th December 2007 and the Company was entitled to property in Faridabad. The Company has not been able to receive the property due to ongoing litigations related to physical possession of the property between LLHPL and its seller.

In view the substantial time lapsed in the completion of transaction, LLHPL has proposed to settle the transaction, by refunding the advance amount which has been accepted by the Company subsequent to the balance sheet date. The Company expects to receive back the advance by 30th June 2024 and accordingly the advance is considered good and recoverable as at 31st March 2024.

30 Capital Commitments and Contingencies

a. Estimated amount of contracts remaining to be executed on capital account not provided for (Net of Advances) • Nil (PY - Nil).

b. Contingent Liabilities and not provided for

j) The Company had received a demand notice during the financial year 2021-22. in respect of Talabasta Fireclay Mines from the Office of the Mining Officer of Government of Odisha amounting to Rs. 105.90 lakhs for the alleged excess extraction / production of minerals over the quantity permitted under the mining plan / scheme, environmental or consent to operate and other statutory permissions during the year 2000-01 to 201011 under Section 21(5) of Mines & Minerals (Development and Regulation) Act. 1957 (''Act’). The Company is of the view that all royalty and other dues were duly paid to the State Government during the pehod the said mine was operational and the minerals were used for captive purpose only in their refractory unit. The Company has filed an appeal on 09.03.2022 before the Director of Mines. Bhubaneswar against Demand Notice dated 03.01.2022 for Rs. 105.90 lakhs with a prayer i) call the records from the concerned competent authority ii) Quash the Demand Notice dated 03.01.2022 and as an interim measure stay the recovery of demand till the disposal of the appeal. The hearing was completed on 22.06.2022 and order has been reserved.

Further, the Company has received a letter dated 08th November,2023 from Deputy Director of Mines, Cuttack Circle, Cuttack requesting to pay Rs. 13.05 lacs towards differential Dead Rent outstanding against Talbasta Fireclay mines for the period July, 2010 to Dec’2014 as a part of Audit objection at their end. The Company has responded the same vide letter on 05th December, 2023 with clarification that no amount is payable, since the lease of the mines was expired way back on 06th January, 2005.

ii) The Deputy Director of Mines, Odisha has taken over the above mines on 23.09.2015 without completing the mining closure formalities which remains pending as at 31.03.2024. Liability, if any, towards restoration and rehabilitation work at the mine site post completion of closure formalities may arise which would be provided for as and when demanded.

The Company does not expect any cash outflow arising out of these matters as and when this case is ultimately decided.

Since there are no Financial Asset or Financial liabilities at the balance sheet date for which amortized cost is adopted therefore classification of hierarchy of amortized cost of financial instruments is not required to be given.

ii) Financial Risk Management Objectives

The Company''s Corporate Treasury function provides services to the business, co-ordinates access to domestic and international financial markets including market risk (including currency risk, interest rate risk and other price risk), credit risk and liquidity risk. During the year the Company does not have any exposure from the international market and accordingly there is no foreign currency receivable and payable at the year end.

Market Risk

The Company''s activities expose it primarily to the financial risks of changes in interest rates and foreign currency exchange rates.

a) Foreign Currency risk management

The Company has not undertaken any transactions denominated in foreign currencies during the year and it does not have any foreign currency exposures as at 31.03.2024 or as at 31.03.2023.

b) Interest Rate risk management

The Company is not exposed to change in market interest rate risks as company is not borrowing funds . Company is only lending the funds at fixed rate of interest and accordingly there is no exposure to variance in market rate of interest

c) Liquidity risk management

Ultimate responsibility for liquidity risk management rests with the board of directors, which has established an appropriate liquidity risk management framework for the management of the company''s short-term, medium-term and long-term funding and liquidity management requirements. The Company manages liquidity risk by maintaining adequate reserves and by continuously monitoring forecast and actual cash flows, and by matching the maturity profiles of financial assets and liabilities.

Credit Risk

Credit Risk refers to risk of financial loss to the Company if a customer or a counter-party fails to meet its contractual obligations. The Company has following categories of financial assets that are subject to credit risk evaluation:

a) Investment

The Company has made investment in Deposit with banks, Mutual funds etc. Funds are invested in accordance with the company''s established Investment policy that includes parameters of safety, liquidity and post tax returns. Company avoids the concentration of credit risk by spreading them over several counterparties with good credit rating profile and sound financial position. The Company''s exposure and credit ratings of its counterparties are monitored on an ongoing basis. Based on historical experience and credit profiles of counterparties, the company does not expect any significant risk of default.

b) Trade Receivables

Credit risk arising from trade receivables is managed in accordance with the Company’s established policy with regard to credit limits, control and approval procedures. The company provides for expected credit losses on trade receivables based on a simplified approach as per Ind AS 109. Under this approach, expected credit losses are computed basis the probability of defaults over the lifetime of the assets. This allowance is measured taking into account credit profile of the customer, geographical spread, trade channels, past expenence of defaults, estimates for future uncertainties Movement of trade receivables is Nil during the current year.

c) Loans and Other financial assets

Loans include inter-corporate loans including accrued interest and other financial assets. Based on historical experience and credit profiles of counterparties, the company expect significant risk of default and made provisions for Expected Credit Loss.

The Company''s maximum exposure to credit risk for each categories of financial assets is their carrying values as at the reporting dates.

36 Corporate social responsibility (CSR )

The provisions of Corporate social responsibility (CSR ) expenses as per Section 135 of the Companies Act 2013 are not applicable to the Company.

37 Additional disclosure / Regulatory Information as required bv Notification no. GSR 207(E) dated 24.03.2021. to the extent applicable

(i) The Company does not have any immovable property

(ii) The Company does not have any investment property.

(iii) The Company has not revalued its Property, Plant and Equipment.

(iv) The Company has not revalued its intangible assets.

(v) Loan or advances granted to the promoters, directors and KMPs and the related parties:

No loan or advances in the nature of loans have been granted to the promoters, directors, key managerial persons and the related parties (as defined under the Companies Act, 2013), either severally or jointly with any other person that are:

(a) repayable on demand or

(b) without specifying any terms or period of repayment

(vi) The Company does not have any Capital Work in progress at the balance sheet date.

(vii) The Company does not have intangible assets under development.

(viii) The Company does not have any Benami property, where any proceeding has been initiated or pending against the Company for holding any Benami property.

(ix) Reconciliation of Quarterly statement of current assets filed with banks or financial statements The Company has not taken any loan so not required to file any statement with the banks.

(x) The Company has not been declared as wilful defaulter by any bank or financial institutions.

<*0 Relationship with Struck on Companies:

There are no transaction with the companies whose name is struck off under section 248 of the Companies Act, 2013 or section 560 of Companies Act, 1956 during the year ended 31 March 2024 and the year ended 31 March 2023.

(xii) The Company does not have any charges or satisfaction which is yet to be registered with ROC beyond the statutory period.

(xiii) Compliance with number of layers of companies

No layers of companies has been established beyond the limit prescribed as per above said section / rules.

(xiv) Ratio Analysis

38 Previous year figures have been regrouped/ re-classified wherever necessary to correspond with the current year’s classification/ disclosure.

As per our report of even date attached

For V. Sankar Aiyar & Co. For and on behalf of the Board of Directors

Chartered Accountants

Firm Registration Number 109208W

Deepak Gupta Gaurav Dalmia Ambarish Chatterjee

Partner Chairperson and Managing Director Director

Membership No. 514856 DIN : 00009639 DIN : 00653680

Place : New Delhi Arvind Vachaspati Ankit Bhatia

Dated: 28.05.2024 Chief Financial Officer Company Secretary

ICAI M No. 085936 M No. FCS-9175

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Mar 31, 2023

o) Provisions & Contingencies

Provisions are recognised when the company has a present obligation (legal or constructive) as a result of a past event, it is probable that the company will be required to settle the obligation, 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. When a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when the effect of the time value of money is material). When some or all of the economic benefits required to settle a provision are expected to be recovered from a third party, a receivable is recognised as an asset if it is virtually certain that reimbursement will be received and the amount of the receivable can be measured reliably.

p) Contingent Liabilities

A contingent liability is a possible obligation that arises from past events whose existence will be confirmed by occurrence or nonoccurrence of one or more of uncertain future events beyond the control of company or a present obligation that is not recognized because it is not probable that an outflow of resources will be required to settle the an obligation. A contingent liability also arises in the extremely rare cases where there is a liability that cannot be recognized because it cannot be measured reliably its existence in the financial statements. Company does not recognize the contingent liability but disclosed its existence in financial statements.

q) Cash and Cash Equivalents

Cash and cash equivalents for the purposes of cash flow statement comprise of cash at bank and cash in hand and short-term investments with an original maturity of three months or less. Bank overdrafts are shown within borrowings in current liabilities in the balance sheet and forms part of financing activities in the cash flow statement. Book overdraft are shown within other financial liabilities in the balance sheet and forms part of operating activities in the cash flow statement.

r) Segment Reporting Operating segments

Ind AS 108 “Operating Segment” (“Ind AS 108”) establishes standards for the way that public business enterprises report information about operating segments and related disclosures about products and services, geographic areas, and major customers. Based on the “management approach” as defined in Ind AS 108, Operating segments are to be reported in a manner consistent with the internal reporting provided to the Chief Operating Decision Maker (CODM).The CODM evaluates the Company''s performance and allocates resources on overall basis. The Company''s sole operating segment is therefore primarily Real Estate Development . Accordingly, there are no additional disclosure to be provided under Ind AS 108.

1.3 Recent accounting pronouncement

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.

On March 31,2023, MCA amended the Companies (Indian Accounting Standards) Amendment Rules, 2023, as below:

ⁱ. Ind AS 1 - Presentation of Financial Statements - This amendment requires the entities to disclose their material accounting policies rather than their significant accounting policies. The effective date for adoption of this amendment is annual periods beginning on or after April 1, 2023. The Company has evaluated the amendment and the impact of the amendment is insignificant in the financial statements.

ii. Ind AS 8 - Accounting Policies, Changes in Accounting Estimates and Errors - This amendment has introduced a definition of ‘accounting estimates'' and included amendments to Ind AS 8 to help entities distinguish changes in accounting policies from changes in accounting estimates. The effective date for adoption of this amendment is annual periods beginning on or after April 1, 2023. The Company has evaluated the amendment and there is no impact on its financial statements.

ⁱⁱⁱ. Ind AS 12 - Income Taxes - This amendment has narrowed the scope of the initial recognition exemption so that it does not apply to transactions that give rise to equal and offsetting temporary differences. The effective date for adoption of this amendment is annual periods beginning on or after April 1,2023. The Company has evaluated the amendment and there is no impact on its financial statements.

26 Capital Commitments and Contingencies

a. Estimated amount of contracts remaining to be executed on capital account not provided foi - 279.66

(Net of Advances)

b. Contingent Liabilities and not provided for

i) Show cause notice received and pending with Adjudication Authority (Mining Officer), Cuttack Circle, Cuttack for determination of compensation on account of excess production of Fire Clay Minerals from Mining Lease for the period from year 2001-02 to 2005-06. Amount involved as at 31.03.2023 is Rs.105.90 lacs (PY Rs.105.90 lacs)

The Company has filed an appeal before the Director of Mines, Bhubaneshwar against demand notice dated 03.01.2022 for Rs.105.90 lacs on 09.03.2022 with a prayer i) call the records from the concerned competent authority ii) quash the demand notice dated 03.01.2022 and as an interim measure stay the recovery of demand till the disposal of the appeal. The hearing was completed on 22.08.2022 and order has been reserved.

ii) Further, the Company has estimated an additional liability of Rs.81.60 lacs (PY Rs.81.60 lacs) towards restoration, rehabilitation of land, payable to Dy. Director of Mines, Odisha on completing the mining closure formalities.

The Company does not expect any cash outflow as and when this case is decided

c. On 18.03.2021, a search and seizer action u/s 132 of the Income Tax Act, 1961 was carried out in the premise of the Company. The Company has earlier filed its income tax return u/s 139(1) for the AY 2018-19 to 2021-22 and the same were processed u/s 143(1). Since the search was initiated in these cases, notice u/s 153A of the Act, were issued to the company for the AY 2018-19 to 2021-22. In response to the notice, the company has filed its return u/s 153A. After completed the assessments u/s 153A/143(3), the income tax department has erroneously raised a demand of Rs. 1.19 lacs towards interest u/s 234D for Rs. 0.21 lacs and interest u/s 244A of the Act., for Rs.0.98 lacs which was given in the order u/s 143(1) of dt 06.08.2019 has revert back in the current order of dt 02.03.2023 in the assessment year 2018-19.The Company is in process of filing application u/s 154 of Income Act for rectification which is apparent on the record

27 A Business Transfer Agreement was signed on the 2nd April 2012 between Ansal Landmark Townships Pvt. Ltd., (ALTPL); Ansal Landmark (Karnal) Township Pvt. Ltd. (ALKTPL) & Ansal Properties & Infrastructure Ltd. Pursuant to the same, advances of Rs.49,93.74 lacs/- (including accrued interest up to June 30, 2008), which Landmark Property Development Co. Ltd. (the Company) had given to ALTPL stood transferred to a new entity set up to run the Karnal project, viz. ALKTPL. Following this new arrangement, the Company was entitled to allotment of Plots, Flats in Group Housing/Row Housing/Commercial property in the ongoing residential township being developed by ALTPL at Ghaziabad and ALKTPL at Karnal in due course As on March 31 2023 the remaining amount outstanding is Rs 35 26 15 lacs (Rs 35 45 91 lacs as at March 31 2022

Since there are no Financial Asset or Financial liabilities at the balance sheet date for which amortized cost is adopted therefore classification of hierarchy of amortized cost of financial instruments is not required to be given

ii) Financial Risk Management Objectives

The Company’s Corporate Treasury function provides services to the business, co-ordinates access to domestic and international financial markets including market risk (including currency risk, interest rate risk and other price risk), credit risk and liquidity risk. During the year the Company does not have any exposure from the international market and accordingly there is no foreign currency receivable and payable at the year end.

Market Risk

The Company''s activities expose it primarily to the financial risks of changes in interest rates and foreign currency exchange rates.

a) Foreign Currency risk management

The Company undertakes transactions denominated in foreign currencies; consequently, exposures to exchange rate fluctuations arise. Exchange rate exposures are managed within approved policy parameters. The carrying amounts of the Company’s foreign currency denominated monetary assets and monetary liabilities at the end of the reporting period is Nil.

b) Interest Rate risk management

The Company is not exposed to change in market interest rate risks as company is not borrowing funds . Company is only lending the funds at fixed rate of interest and accordingly there is no exposure to variance in market rate of interest .

c) Liquidity risk management

Ultimate responsibility for liquidity risk management rests with the board of directors, which has established an appropriate liquidity risk management framework for the management of the company’s short-term, medium-term and long-term funding and liquidity management requirements. The Company manages liquidity risk by maintaining adequate reserves and by continuously monitoring forecast and actual cash flows, and by matching the maturity profiles of financial assets and liabilities.

Credit Risk

Credit Risk refers to risk of financial loss to the Company if a customer or a counter-party fails to meet its contractual obligations. The Company has following categories of financial assets that are subject to credit risk evaluation:

a) Investment

The Company has made investment in Deposit with banks, Mutual funds etc. Funds are invested in accordance with the company''s established Investment policy that includes parameters of safety, liquidity and post tax returns. Company avoids the concentration of credit risk by spreading them over several counterparties with good credit rating profile and sound financial position. The Company''s exposure and credit ratings of its counterparties are monitored on an ongoing basis. Based on historical experience and credit profiles of counterparties, the company does not expect any significant risk of default

b) Trade Receivables

Credit risk arising from trade receivables is managed in accordance with the Company''s established policy with regard to credit limits, control and approval procedures. The company provides for expected credit losses on trade receivables based on a simplified approach as per Ind AS 109. Under this approach, expected credit losses are computed basis the probability of defaults over the lifetime of the assets. This allowance is measured taking into account credit profile of the customer, geographical spread, trade channels, past experience of defaults, estimates for future uncertainties etc. Movement of trade receivables is Nil during the current year.

35 Corporate social responsibility (CSR )

The company is not eligible to undertake Corporate social responsibility (CSR ) activities as per the criteria defined under section 135 of companies act 2013. Hence no CSR activities has been undertaken in the current financial year.

36 The Indian Parliament has approved the Code on Social Security, 2020 which would impact the contributions by the company towards Provident Fund and Gratuity. The Ministry of Labour and Employment has released draft rules for the Code on Social Security, 2020 on November 13, 2020, and has invited suggestions from stake holders which are under active consideration by the Ministry. The Company will assess the impact and its evaluation once the subject rules are notified and will give appropriate impact in its financial statements in the period in which, the Code becomes effective and the related rules to determine the financial impact are published

37 Additional disclosure / Regulatory Information as required by Notification no. GSR 207(E) dated 24.03.2021

(i) The Company does not have any Benami property, where any proceeding has been initiated or pending against the Company for holding any Benami

property.

(ii) The Company does not have any transactions with companies struck off.

(iii) The Company does not have any charges or satisfaction which is yet to be registered with ROC beyond the statutory period.

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

(v) The Company has not advanced or loaned or invested funds in any other person(s) or entity(ies), including foreign entities (Intermediaries) with the understanding that the Intermediary shall (a) Directly or indirectly lend or invest in other persons or entities identified in any manner whatsoever by or on behalf of the Company (Ultimate Beneficiaries) or (b) Provide any guarantee, security or the like to or on behalf of the ultimate beneficiaries.

(vi) The Company has not received any fund from any person(s) or entity(ies), including foreign entities (Funding Party) with the understanding (whether recorded in writing or otherwise) that the company shall: (a) Directly or indirectly lend or invest in other persons or entities identified in any manner whatsoever by or on behalf of the Funding Party (Ultimate Beneficiaries) or (b) Provide any guarantee, security or the like on behalf of the ultimate beneficiaries.

(vii) There is no such income which has not been disclosed in the books of accounts. No such income is surrendered or disclosed as income during the year in the tax assessments under Income Tax Act, 1961.

(viii) The Company has no subsidiary, associates and joint ventures.

(ix) The Company has not been declared as wilful defaulter by any bank or financial institutions.

As per our report of even date attached

For V. Sankar Aiyar & Co. For and on behalf of the Board of Directors

Chartered Accountants

Firm Registration Number 109208W

Deepak Gupta Gaurav Dalmia Jai Karan Kapur

Partner Chairperson and Managing Director Director

Membership No. 514856 DIN : 00009639 DIN : 07139086

Place : New Delhi Arvind Vachaspati Ankit Bhatia

Dated : 29.05.2023 Chief Financial Officer Company Secretary

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Mar 31, 2018

1. Segmental Reporting

Operating segments

Ind AS 108 “Operating Segment” (“Ind AS 108”) establishes standards for the way that public business enterprises report information about operating segments and related disclosures about products and services, geographic areas, and major customers. Based on the “management approach” as defined in Ind AS 108, Operating segments are to be reported in a manner consistent with the internal reporting provided to the Chief Operating Decision Maker (CODM).The CODM evaluates the Company''s performance and allocates resources on overall basis. The Company''s sole operating segment is therefore primarily Real Estate Development (including Advisory services). Accordingly, there are no additional disclosure to be provided under Ind AS 108.

b) The Company does not have any long term commitments or material non-cancellable contractual commitments/contracts, including derivative contracts for which there were any material foreseeable losses.

26 Related party disclosure a ) Name of related parties

Parties where control exists irrespective of whether transactions have occurred or not Particulars Entities

Enterprise over which Key Managerial Personnel - Landmark Land Holdings Private Limited is able to exercise significant influence) - Ansal Landmark (Karnal) Township Private Limited

- Astir Properties Private Limited

Names of other related parties with whom transactions have taken place during the year

Key Management Personnel Shri Rajeev Kumar Nair (Chief Financial Officer)

Shri S K Chawla (Company Secretary)

Chairperson and Managing Director Shri Gaurav Dalmia (Promoter, Executive and Non Independent

Director)

Relatives of Key Managerial Personnel Smt. Sharmila Dalmia (Wife of Shri Gaurav Dalmia)

Non-Executive Directors Shri H L Agarwal (Non Independent Director)

Shri G B Rao (Independent Director)

Shri H C Dua (Independent Director)

Shri Jai Karan Kapur (Independent Director)

Smt. Sharmila Dalmia (Non Independent Director)

The estimates of future salary increases, considered in actuarial valuation, take into account inflation, seniority, promotion and other relevant factors including supply and demand in the employment market.

Significant actuarial assumption for the determination of the defined obligation are discounted rate, expected salary escalation rate and withdrawal rate. The sensitivity analyses below have been determined based on reasonably possible changes of the respective assumption occurring at the end of the reporting period, while holding all other assumptions constant.

The above information is certified by the actuarial valuer.

The discount rate is based on prevailing market yield of Govt. Bonds as at the date of valuation.

Market Risk

The Company''s activities expose it primarily to the financial risks of changes in interest rates and foreign currency exchange rates.

a) Foreign Currency risk management

The Company undertakes transactions denominated in foreign currencies; consequently, exposures to exchange rate fluctuations arise. Exchange rate exposures are managed within approved policy parameters.

The carrying amounts of the Company''s foreign currency denominated monetary assets and monetary liabilities at the end of the reporting period are as follows:

Foreign currency sensitivity analysis

The company is only exposed to the USD currency.

The following table details the company''s sensitivity to a 1% increase and decrease in the ‘Rs. against the USD. 1% is the sensitivity rate used when reporting foreign currency risk internally to key management personnel and represents management''s assessment of the reasonably possible change in foreign exchange rates. The sensitivity analysis includes only outstanding foreign currency denominated monetary items and adjusts their translation at the period end for a 1% change in foreign currency rates. The sensitivity analysis includes external loans. A positive number below indicates an increase in profit or equity where the ‘ strengthens 1% against the relevant currency. For a 1% weakening of the ‘ against the relevant currency, there would be a comparable impact on the profit or equity, and the balances below would be negative.

b) Interest Rate risk management

The Company is not exposed to change in market interest rate risks as company is not borrowing funds . Company is only lending the funds at fixed rate of interest and accordingly there is no exposure to variance in market rate of interest .

c) Liquidity risk management

Ultimate responsibility for liquidity risk management rests with the board of directors, which has established an appropriate liquidity risk management framework for the management of the company''s short-term, medium-term and long-term funding and liquidity management requirements. The Company manages liquidity risk by maintaining adequate reserves and by continuously monitoring forecast and actual cash flows, and by matching the maturity profiles of financial assets and liabilities.

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, without incurring unacceptable losses or risking damage to the Company''s reputation.

There was no transfer between Level 1 , Level 2 and Level 3 in the period

b) Financial Assets and Liabilities measured at Amortized Cost

The carrying amount of financial assets and financial liabilities measured at amortized cost in the financial statements are reasonable approximation of their fair values since the company does not anticipate that the carrying amount would be significantly different from the value that would eventually be received or settled.

34 A Business Transfer Agreement was signed on the 2nd April 2012 between Ansal Landmark Townships Pvt. Ltd., (ALTPL); Ansal Landmark (Karnal) Township Pvt. Ltd. (ALKTPL) & Ansal Properties & Infrastructure Ltd. Pursuant to the same, advances of Rs.499,374,839/- (including accrued interest up to June 30, 2008), which Landmark Property Development Co. Ltd. (the Company) had given to ALTPL stood transferred to a new entity set up to run the Karnal project, viz. ALKTPL. Following this new arrangement, the Company was entitled to allotment of Plots, Flats in Group Housing/Row Housing/Commercial property in the ongoing residential township being developed by ALTPL at Ghaziabad and ALKTPL at Karnal, in due course. As on March 31, 2018, the remaining amount outstanding is Rs.354,591,040/-

2. First Time Ind AS Adoption Reconciliations

For all periods up to and including the year ended 31st March, 2017, the Company had prepared its financial statements in accordance with the accounting standards notified under Section 133 of the Companies Act, 2013, read together with Rule 7 of the Companies (Accounts) Rules, 2014 (‘Previous GAAP''). This note explains the principal adjustments made by the Company in restating its financial statements prepared under Previous GAAP for the following

a) Effect of Ind AS adoption on the balance sheet as at March 31, 2017 and April 01, 2016.

b) Reconciliation of total equity as at March 31, 2017 and April 01, 2016.

c) Effect of Ind AS adoption on the profit and loss for the year ended March 31, 2017.

(a) Under Previous GAAP investment made in mutual fund by the company were measured at lower of cost or fair value. Under Ind AS, the company has recognized such investments at fair value through profit and loss thus leading to increase in the value of investment in mutual fund.

(b) Under previous GAAP, deferred taxes were recognized for the tax effect of timing differences between accounting profit and taxable profit for the year using the income statement approach. Under Ind AS, deferred taxes are recognized using the balance sheet for future tax consequences of temporary differences between the carrying value of assets and liabilities and their respective tax bases. The above difference, together with consequential tax impact of the other Ind AS transitional adjustments lead to temporary differences. Deferred tax adjustments are recognized in correlation to the underlying transaction either in retained earnings or through statement of profit and loss or other comprehensive income.

(c) Under previous GAAP, actuarial gains and losses were recognized in profit or loss. Under Ind AS actuarial gains and losses form part of remeasurement of the net defined benefit liability / asset which is recognized in other comprehensive income. Consequently, the tax effect of the same has also been recognized in other comprehensive income instead of profit or loss.

# Advances of Rs 37,78,91,040/- (refer Notes 6 ) are outstanding from Private Limited Companies in which Mr. Gaurav Dalmia , Managing Director is a member/ director. Part of these balances were taken over on merger of Real Estate undertaking of OCL India Limited, the effective date being 20th December 2007 and part of these were given before Mr. Gaurav Dalmia was appointed as the Director of the company w.e.f. 29th January, 2008.

3. The comparative financial information of the Company for the transition date opening balance sheet as at 1 April 2016 included in these Ind AS financial statements, are based on the statutory financial statements prepared in accordance with the Companies (Accounting Standards) Rules, 2006 for the year ended 31 March 2016 have been restated to comply with Ind AS and in accordance with the format prescribed in MCA Circular Notification No. GSR 404(E) [F.NO.17/62/2015CLV], dated 6 April 2016.

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Mar 31, 2016

1. There is no impairment loss of fixed assets during the current financial year.

2. Disclosures as per Section 186 of Companies Act, 2013

3. Particulars as required by Schedule V of Securities and Exchange Board of India (Listing Obligations and Disclosure requirements) Regulations, 2015:

# Advances of Rs.377,891,040/- {refer Notes to Balance Sheet-H (b)} are outstanding from Private Limited Companies in which Mr. Gaurav Dalmia, Managing Director is a member/director. Part of these balances were taken over on merger of Real Estate undertaking of OCL India Limited, the effective date being 20^th December 2007 and part of these were given before Mr. Gaurav Dalmia was appointed as the Director of the Company w. e. f. 29th January, 2008.

4. In the opinion of the Board and to the best of their knowledge and belief, the value on realization of current assets, loans and advances in the ordinary course of business would not be less than the amount at which they are stated in the Balance Sheet.

5. The Company has not received any information from suppliers or service providers, whether they are covered under Micro, Small and Medium Enterprises (Development) Act 2006. Therefore, it has not been possible to give the information required under the Act.

6. A Business Transfer Agreement was signed on the 2^nd April 2012 between Ansal Landmark Townships Pvt. Ltd., (ALTPL); Ansal Landmark (Karnal) Township Pvt. Ltd. (ALKTPL) & Ansal Properties & Infrastructure Ltd. Pursuant to the same, advances of Rs.499,374,839/- (including accrued interest up to June 30, 2008), which Landmark Property Development Co. Ltd. (the Company) had given to ALTPL stood transferred to a new entity set up to run the Karnal project, viz. ALKTPL. Following this new arrangement, the Company was entitled to allotment of Plots, Flats in Group Housing/Row Housing/ Commercial property in the ongoing residential township being developed by ALTPL at Ghaziabad and ALKTPL at Karnal, in due course. As on March 31, 2016, the remaining amount outstanding is Rs.354,591,040/-

7. Employee Benefits (AS - 15 revised)

Following data are as per the report given by the Actuary

The Principal assumptions used in actuarial valuation are as below:

- Discount rate - 7.60% p. a.

- Expected rate of future salary increase - 8% p. a.

- Attrition Rate - 2% p.a.

8. Segment Report (AS - 17)

The Company is primarily engaged in the business of Real Estate Development (including advisory services), which as per Accounting Standard on Segment Report (AS-17) is to be only reportable business segment

9. Related Party Disclosure (AS -18)

Related parties, their relationships and transactions with the above in the ordinary course of business

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Mar 31, 2015

I) In respect of Assessment Year 2007-08 and 2008-09, the Department has not adjusted credit of tax aggregating to Rs.97,02,000/- paid by M/s. OCL India Limited and transferred to the Company arising out of De-merger in the relevant period. These facts have been taken note of by the department but they have not been able to resolve the matter due to their procedural issue. Matter is being perused.

ii) In respect of Assessment Year 2009-10, the Department has not adjusted credit of the TDS amounting to Rs.1,49,290/-. The rectification U/s 154 of the Income Tax Act has been filed and matter is being perused.

1. There is no impairment loss of fixed assets during the current financial year.

2. Advances of Rs.377,891,040/- {refer Notes to Balance Sheet–H (b)} are outstanding from Private Limited Companies in which Mr. Gaurav Dalmia, Managing Director is a member/director. Part of these balances were taken over on merger of Real Estate undertaking of OCL India Limited, the effective date being 20th December 2007 and part of these were given before Mr. Gaurav Dalmia was appointed as the Director of the Company w. e. f. 29th January, 2008.

3. In the opinion of the Board and to the best of their knowledge and belief, the value on realization of current assets, loans and advances in the ordinary course of business would not be less than the amount at which they are stated in the Balance Sheet.

4. The Company has not received any information from suppliers or service providers, whether they are covered under Micro, Small and Medium Enterprises (Development) Act 2006. Therefore, it has not been possible to give the information required under the Act.

5. A Business Transfer Agreement was signed on the 2nd April 2012 between Ansal Landmark Townships Pvt. Ltd., (ALTPL); Ansal Landmark (Karnal) Township Pvt. Ltd. (ALKTPL) & Ansal Properties & Infrastructure Ltd. Pursuant to the same, advances Rs.499,374,839/- (including accrued interest up to June 30, 2008), which Landmark Property Development Co. Ltd. (the Company) had given to ALTPL stood transferred to a new entity set up to run the Karnal project, viz. ALKTPL. Following this new arrangement, the Company was entitled to allotment of Plots, Flats in Group Housing/Row Housing/Commercial property in the ongoing residential township being developed by ALTPL at Ghaziabad and ALKTPL at Karnal, in due course.

As on March 31, 2015, after adjustment of Rs.144,783,799/- against the allotment of Flats (including semi finished) and Plots, the remaining amount outstanding is Rs.354,591,040/-

6. Employee Benefits (AS – 15 revised)

Following data are as per the report given by the Actuary

The Principal assumptions used in actuarial valuation are as below:

- Discount rate – 7.90% p. a.

- Expected rate of future salary increase – 10% p. a.

- Attrition Rate – 2% p.a.

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Mar 31, 2014

1. Contingent Liabilities

2013-14 2012-13 Amount Rs. Amount Rs.

Disputed demands in respect of Income Tax:-

-Assessment Year 2007-08 and 2008-09 1.27,91,380/- 1,29,36,758/- -Assessment Year 2009-10 1,56,300/- -

i) In respect of Assessment Year 2007-08 and 2008-09, the Department has not adjusted credit of tax aggregating to Rs.97,02,000/- paid by M/s. OCL India Limited and transferred to the Company arising out of De-merger in the relevant period. These facts have been taken note of by the department but they have not been able to resolve the matter due to their procedural issue. Matter is being perused.

ii) In respect of Assessment Year 2009-10, the Department has not adjusted credit of the TDS amounting to Rs.1,49,290/-. The rectification U/s 154 of the Income Tax Act has been filed and matter is being perused.

2. There is no impairment loss of fixed assets during the current financial year.

3. Advances of Rs.377,975,310/- {refer Notes to Balance Sheet-H (b)} are outstanding from Private Limited Companies in which Mr. Gaurav Dalmia, Managing Director is a member/director. Part of these balances were taken over on merger of Real Estate undertaking of OCL India Limited, the effective date being 20th December 2007 and part of these were given before Mr. Gaurav Dalmia was appointed as the Director of the Company w. e. f. 29th January, 2008. Accordingly, Section 295 and 297 of the Companies Act, 1956 do not apply to transactions entered prior to the date of his becoming the Director.

4. In the opinion of the Board and to the best of their knowledge and belief, the value on realization of current assets, loans and advances in the ordinary course of business would not be less than the amount at which they are stated in the Balance Sheet.

5. The Company has not received any information from suppliers or service providers, whether they are covered under Micro, Small and Medium Enterprises (Development) Act 2006. Therefore, it has not been possible to give the information required under the Act.

6. A Business Transfer Agreement was signed on the 2nd April 2012 between Ansal Landmark Townships Pvt. Ltd., (ALTPL);

Ansal Landmark (Karnal) Township Pvt. Ltd. (ALKTPL) & Ansal Properties & Infrastructure Ltd. Pursuant to the same, advances Rs.499,374,839/- (including accrued interest up to June 30, 2008), which Landmark Property Development Comany Ltd. (the Company) had given to ALTPL stood transferred to a new entity set up to run the Karnal project, viz. ALKTPL. Following this new arrangement, the Company was entitled to allotment of Plots, Flats in Group Housing/Row Housing/Commercial property in the ongoing residential township being developed by ALTPL at Ghaziabad and ALKTPL at Karnal, in due course.

As on March 31, 2014, after adjusting of Rs.144,699,529/- against the allotment of Flats (including semi finished) and Plots, the remaining amount outstanding is Rs.354,675,310/-

7. Employee Benefits (AS - 15 revised)

Following data are as per the report given by the Actuary

The Principal assumptions used in actuarial valuation are as below:

* Discount rate - 9.20% p. a.

* Expected rate of future salary increase - 10% p. a.

* Attrition Rate - 2% p.a.

8. Segment Report (AS - 17)

The Company is primarily engaged in the business of Real Estate Development (including advisory services), which as per Accounting Standard on Segment Report (AS-17) is to be only reportable business segment

9. Related Party Disclosure (AS -18)

Related parties, their relationships and transactions with the above in the ordinary course of business

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Mar 31, 2013

1. Contingent Liabilities

2012-13 2011-12 Rs. Lakhs Rs.Lakhs

Disputed liability in respect of Income Tax Demands 129.37 257.60

2. There is no impairment loss of fixed assets during the current financial year.

3. Advances of Rs. 52.27 Crores (refer Notes to Balance Sheet -H(b)} are outstanding from Private Limited Companies in which Mr.Gaurav Dalmia, Managing Director is a member/director. Part of these balances were taken over on merger of Real Estate undertaking of OCL India Limited, the effective date being 20th December 2007 and part of these were given before Mr. Gaurav Dalmia was appointed as the Director of the Company w.e. f. 29th January, 2008. Accordingly, Section 295 and 297 of the Companies Act, 1956 do not apply to transactions entered prior to the date of his becoming the Director.

4. In the opinion of the Board and to the best of their knowledge andjbelief, the value on realization of current assets, loans and advances in the ordinary course of business would not be less than the amount at which they are stated in the Balance Sheet,

5. The Company has not received any information from suppliers or service providers, whether they are covered under Micro, Small and Medium Enterprises (Development) Act 2006. therefore, it has not been possible to give the information required under the Act.

6. A Business Transfer Agreement was signed on the 2nd April 2012 between Ansal Landmark Townships Pvt. Ltd.,(ALTPL) Ansal Landmark (Karnal) Township Pvt. Ltd.(ALKTPL) & Ansal Properties & Infrastructure Ltd. Pursuant to the same, advances aggregating Rs.4,993.75 lacs (including accrued interest up to June 30, 2008) which Landmark Property Development Co. Ltd. (the Company) had given to ALTPL stood transferred to a new entity set up to run the Karnal project, viz. ALKTPL. Following this new arrangement, the Company is entitled to allotment of Plots, Flats in Group Housing/Row Housing/Commercial property in the ongoing residential township being developed by ALTPL at Ghaziabad and ALKTPL at Karnal, in due course

7. Employee Benefits (AS -15 revised)

Following data are as per the report given by the Actuary

The Principal assumptions used in actuarial valuation are as below:

Discount rate - 8.10% p. a.

Expected rate of future salary increase- 10% p. a.

Attrition Rate - 2% p.a.

8. Segment Report (AS - 17)

The Company is primarily engaged in the Dusiness of Real Estate Development (including advisory services), which as per Accounting Standard on Segment Report (AS-17) is to be only reportable business segment

9. Related Party Disclosure (AS-18)

a) Related parties and their relationship:

i) Key management personnel: Shri Gaurav Dalmia (Managing Director)

ii) Enterprises over which key management personnel are able to exercise significant influence;

a) Landmark Landholdings Private Limited

b) Ansal Landmark (Karnal) Township Private Limited

c) Astir Properties Private Limited

d) OCL India Ltd.

b) Transactions with above in ordinary course of business:

* Loss on Investment of Rs,2698.68 incurred during the year on transfer of units from UTI Quarterly Plan Series to Daily Dividend Option plan.

10. The figures have been rounded off to the nearest rupee. Previous year figures have been regrouped where necessary to correspond with current year figures.

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Mar 31, 2012

1. Contingent Liabilities

a) Bank Guarantees - Rs. 2.00 Lakh (Previous Year - Rs. 2.00 Lakh)

b) Disputed Income Tax Demands -Rs.257.60 Lacs for the Assessment Year 2007-08 and 2008-09 for which the Company has filed rectifications u/s 154 of the Income Tax Act, 1961. (Previous Year - Rs. NIL)

2. There is no impairment or loss of fixed assets during the current financial year.

3. Advances of Rs. 52.27 Crores (refer Notes to Balance Sheet -H) are outstanding from Private Limited Companies in which Mr.Gaurav Dalmia, Managing Director is a member I director. Part of these balances were taken over on merger of Real Estate undertaking of OCL India Limited, the effective date being 20lh December 2007 and part of these were given before Mr. Gaurav Dalmia was appointed as the Director of ' the Company w. e. f. 29th January, 2008. Accordingly, Section 295 and 297 of the Companies Act, 1956 do not apply to transactions entered prior to the date of his becoming the Director.

4. In the opinion of the Board and to the best of their knowledge and belief, the value on realization of current assets, loans and advances in the ordinary course of business would not be less than the amount at which they are stated in the Balance Sheet.

5. The Company has not received any information from suppliers or service providers, whether they are covered under Micro, Small and Medium Enterprises (Development) Act 2006. Therefore, it has not been possible to give the information required under the Act.

6. Segment Report (AS-17)

The Company is primarily engaged in the business of Real Estate Development (including advisory services), which as per Accounting Standard on Segment Report (AS-17) is to be only reportable business segment.

7. The Company, in pursuant to an agreement entered into with M/s Ansal Landmark Townships Pvt. Ltd., (ALTPL), has paid advances aggregating to Rs.4993.75 lacs including interest accrued on above advance up to 30.06.2008. The Company is entitled to allotment of Plots, Flats in GH/RH in the ongoing residential township being developed by ALTPL at Meerut, Ghaziabad and Karnal, in due course.

8. Related Party Disclosure (AS -18)

a) Related parties and their relationship:

i) Key management personnel: Shri Gaurav Dalmia (Managing Director)

ii) Enterprises over which key management personnel are able to exercise significant influence:

a) Landmark Landholdings Private Limited

b) Ansal Landmark Townships Private Limited

c) Astir Properties Private Limited

d) OCL India Ltd.

e) Skylark Consultants (India) Private Limited.

b) Transactions with above in ordinary course of business:

9. The figures have been rounded off to the nearest rupee. Previous year figures have been regrouped where necessary to correspond with current year figures including those on account adoption of revised Schedule-VI of the Companies Act, 1956 effective from 01.04.2011.

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Mar 31, 2011

1. Contingent Liabilities

a) Bank Guarantees - Rs. 2.00 Lakh (Previous Year - Rs. 2.00 Lakh)

b) Service Tax on Rent - Rs. Nil (Previous Year-Rs. 2.21 Lakh)

c) Disputed Income Tax Demands- Rs. NIL (Previous Year - Rs. 78.37 Lakhs)

2. There is no impairment loss of fixed assets during the current financial year.

3. Advances of Rs. 52.27 Crores (refer Schedule - 7) are outstanding from Private Limited Companies in which Mr.Gaurav Dalmia, Managing Director is a member/ director. Part of these balances were taken over on merger of Real Estate undertaking of OCL India Limited, the effective date being 20th December 2007 and part of these were given before Mr. Gaurav Dalmia was appointed as the Director of the Company w. e. f. 29th January, 2008. Accordingly, Section 295 and 297 of the Companies Act, 1956 do not apply to transactions entered prior to the date of his becoming the Director.

4. In the opinion of the Board and to the best of their knowledge and belief, the value on realization of current assets, loans and advances in the ordinary course of business would not be less than the amount at which they are stated in the Balance Sheet.

5. The Company has not received any information from suppliers or service providers, whether they are covered under Micro, Small and Medium Enterprises (Development) Act 2006. Therefore, it has not been possible to give the information required under the Act.

6. Segment Report (AS - 17)

The Company is primarily engaged in the business of Real Estate Development (including advisory services), which as per Accounting Standard on Segment Report (AS-17) is to be only reportable business segment.

7. Employee Benefits (AS - 15 revised)

Following data are as per the report given by the Actuary

The Principal assumptions used in actuarial valuation are as below:

- Discount rate - 8.25% p. a.

- Expected rate of future salary increase - 5% p. a.

- Attrition Rate - 2% p.a.

8. The Company, in pursuant to an agreement entered into with M/s Ansal Landmark Townships Pvt. Ltd., (ALTPL), has paid advances aggregating to Rs.4993.75 lacs including interest accrued on above advance up to 30.06.2008. The Company is entitled to allotment of Plots, Flats in GH/RH in the ongoing residential township being developed by ALTPL at Meerut, Ghaziabad and Karnal, in due course.

9. Related Party Disclosure (AS -18)

a) Related parties and their relationship:

i) Key management personnel: Shri Gaurav Dalmia (Managing Director)

ii) Enterprises over which key management personnel are able to exercise significant influence:

a) Landmark Landholdings Private Limited

b) Ansal Landmark Townships Private Limited

c) Astir Properties Private Limited

d) OCL India Ltd.

e) Samridhi Townships Private Limited

f) Skylark Consultants (India) Private Limited.

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Mar 31, 2010

1 Contingent Liabilities

a) Bank Guarantees - Rs. 2.00 Lakh ( Previous Year - Rs. 2.00 Lakh)

b) Service Tax on Rent - Rs. 2.21 Lakh ( Previous Year - Rs. Nil)

c) Disputed Income Tax demands not provided for - Rs.78.37 Lakhs (Previous Year - NIL)

(In pursuance to the assessment order passed U/s 143(3) of the Income Tax Act, 1961 for assessment year 2007-08 a demand of Rs.78.37 Lakhs, comprising of interest U/s 234B and 234C has been raised, which has been contested in appeal filed before the CIT (A) - Bhubaneshwar (Orissa).)

2 There is no impairment loss during the current financial year.

3 These advances of Rs. 52.27 Crores (refer Schedule - 8) were outstanding from Private Limited Companies in which Mr. Gaurav Dalmia, Managing Director is a member / director. Part of these balances were taken over on merger of Real Estate undertaking of OCL India Limited, the effective date being 20th December 2007 and part of these were given before Mr. Gaurav Dalmia was appointed as the Director of the Company w. e. f. 29th January, 2008. Accordingly, Sections 295 and 297 of the Companies Act, 1956 do not apply to transactions entered prior to the date of his becoming the Director.

4 In the opinion of the Board and to the best of their knowledge and belief, the value on realization of current assets, loans and advances in the ordinary course of business would not be less than the amount at which they are stated in the Balance Sheet.

5 The Company has not received any information from suppliers or service providers, whether they are covered under Micro, Small and Medium Enterprises ( Development ) Act 2006. Therefore, it has not been possible to give the the information required under the Act.

6 Segment Reporting (AS -17)

The Company is primarily engaged in the business of Real Estate Development ( including advisory services ) , which as per Accounting Standard on Segment Reporting ( AS-17) is to be only reportable business segment.

7 The Company, in pursuant to an agreement entered into with M/s Ansal Landmark Townships Pvt. Ltd., (ALTPL), has paid an advance aggregating to Rs. 4993.75 lacs including interest accrued on above advance upto 30.06.2008. The Company is entitled to allotment of Plots, Flats in GH/RH in the ongoing residential township being developed by ALTPL at Meerut, Ghaziabad and Karnal, in due course.

8 Related Party Disclosure ( AS -18 )

a) Related parties and their relationship :

i Key management personnel :Shri Gaurav Dalmia ( Managing Director)

ii Enterprises over which key management personnel are able to exercise significant influence :

a) Landmark Landholdings Private Limited

b) Ansal Landmark Townships Private Limited

c) Astir Properties Private Limited

d) Samridhi Township Private Limited