Notes to Accounts of Lykis Ltd.

Mar 31, 2025

2.18 Provisions, Contingent Liabilities and Contingent Assets

Provisions are recognised when the Company has present obligation (legal or constructive) as a result of past
events, for which it is probable that an outflow of resources embodying economic benefits will be required
to settle the obligation and a reliable estimate can be made for the amount of the obligation.

Contingent Liabilities are disclosed by way of notes to Financial Statements. Contingent assets are not
recognised in the financial statements but are disclosed in the notes to the financial statements where an
inflow of economic benefits is probable. Provisions and contingent liabilities are reviewed at each Balance
Sheet date.

If the effect of the time value of money is material, provisions are discounted using a current pre-tax rate that
reflects, when appropriate, the risks specific to the liability.

2.19 Financial instruments
A Financial Assets

The Company recognizes a financial asset in its balance sheet when it becomes party to the contractual
provisions of the instrument. All financial assets are recognized initially at fair value, plus in the case
of financial assets not recorded at fair value through profit or loss (FVTPL), transaction cost that are
attributable to the acquisition of the financial asset.

Where the fair value of a financial asset at initial recognition is different from its transaction price,
the difference between the fair value and the transaction price is recognized as a gain or loss in the
Statement of Profit and Loss.

However trade receivables that do not contain a significant financing component are measured at
transaction price.

Investments and other financial assets

(i) Classification and Measurement

At initial recognition, the Company measures a financial asset at its fair value. Transaction costs
of financial assets carried at fair value through the Profit and Loss are expensed in the Statement
of Profit and Loss.

Financial Assets:

Subsequent measurement of financial assets depends on the Company''s business model for
managing the asset and the cash flow characteristics of the asset. The Company classifies its
financial assets into following categories:

1 Amortised cost:

Financial assets that are held for collection of contractual cash flows where those cash flows
represent solely payments of principal and interest are measured at amortised cost. Interest
income from these financial assets is included in other income using the effective interest
rate method.

2 Fair value through other comprehensive Income:

Financial assets with a business model:

(A) 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 and

(B) where the Company has exercised the option to classify the investment as at fair
value through other comprehensive income, all fair value changes on the assets are
recognised in OCI.

The accumulated gains or losses recognised in OCI are reclassified to retained earnings
on sale of such investments."

3 Fair value through Profit and Loss:

Financial assets which are not classified in any of the categories above are fair value through
profit or loss.

Equity instruments:

The Company measures its equity investment other than in subsidiaries, joint ventures and
associates at fair value through profit and loss. The investment in subsidiaries, associates
and joint ventures are measured at cost.

(ii) De-recognition

A financial asset (or, where applicable, a part of a financial asset or part of a group of similar
financial assets) is derecognized (i.e. removed from the Company''s balance sheet) when any of
the following occurs:

i. The contractual rights to cash flows from the financial asset expires;

ii The Company transfers its contractual rights to received cash flows of the financial assets

and has substantially transferred all the risk and rewards of ownership of the financial
assets;

iii The Company retains the contractual rights to receive cash flows but assumes a contractual
obligations to pay the cash flows without material delay to one or more recipients under a
''pass-through'' arrangement (thereby substantially transferring all the risks and rewards of
ownership of the financial asset);

iv The Company neither transfers nor retains substantially all risk and rewards of ownership
and does not retain control over the financial asset.

B Financial liabilities:

(i) Measurement

Financial liabilities are recognised when the Company becomes a party to the contractual
provisions of the instrument.

Financial liabilities are initially measured at the amortised cost unless at initial recognition, they
are classified as fair value through profit and loss. Other financial liabilities (including borrowings
and trade and other payables) are subsequently measured at amortised cost using the effective
interest method.

(ii) De-recognition

A financial liability is derecognised when the obligation under the liability is discharged or cancelled
or expires. When an existing financial liability is replaced by another from the same lender
on substantially different terms, or the terms of an existing liability are substantially modified,
such an exchange or modification is treated as the derecognition of the original liability and the
recognition of a new liability. The difference in the respective carrying amounts is recognised in
the statement of profit or loss.

Derivative financial Instrument

A derivative is a financial instrument which changes in value in response to changes in an
underlying asset and is settled at a future date. Derivatives are initially recognised at fair value
on the date a derivative contract is entered into and are subsequently re-measured at their fair
value. The method of recognising the resulting gain or loss depends on whether the derivative is
designated as a hedging instrument, and if so, the nature of the item being hedged. The Company
designates certain derivatives as either:

(a) Hedges of the fair value of recognised assets or liabilities (fair value hedge); or

(b) Hedges of a particular risk associated with a firm commitment or a highly probable forecast
transaction (cash flow hedge);

The Company documents at the inception of the transaction the relationship between hedging
instruments and hedged items, as well as its risk management objectives and strategy for
undertaking various hedging transactions. The Company also documents its assessment, both
at hedge inception and on an on-going basis, of whether the derivatives that are used in hedging
transactions are effective in offsetting changes in cash flows of hedged items. Movements
in the hedging reserve are accounted in other comprehensive income and are shown within
the statement of changes in equity. The full fair value of a hedging derivative is classified as a
noncurrent asset or liability when the remaining maturity of hedged item is more than 12 months,
and as a current asset or liability when the remaining maturity of the hedged item is less than 12
months. Trading derivatives are classified as a current asset or liability

(i) Fair value hedge

Changes in the fair value of derivatives that are designated and qualify as fair value hedges
are recorded in the Statement of Profit and Loss, together with any changes in the fair value

of the hedged asset or liability that are attributable to the hedged risk. The Company only
applies fair value hedge accounting for hedging foreign exchange risk on recognised assets
and liabilities.

(ii) Cash Flow Hedge

The effective portion of changes in the fair value of derivatives that are designated and
qualify as cash flow hedges is recognised in other comprehensive income. The ineffective
portion of changes in the fair value of the derivative is recognised in the Statement of Profit
and Loss. Gains or losses accumulated in equity are reclassified to the statement of profit
and loss in the periods when the hedged item affects the Statement of Profit and Loss.

When a hedging instrument expires or is swapped or unwound, or when a hedge no longer
meets the criteria for hedge accounting, any accumulated gain or loss in other equity
remains there and is reclassified to Statement of Profit and Loss when the forecasted cash
flows affect profit or loss. When a forecasted transaction is no longer expected to occur,
the cumulative gains/losses that were reported in equity are immediately transferred to the
Statement of Profit and Loss.

2.20 Fair value measurement

The Company measures financial instruments, such as, derivatives and investments at fair value as per IND
AS 113 at each balance sheet date. All assets and liabilities for which fair value is measured or disclosed in
the financial statements are categorised within the fair value hierarchy, described as follows, based on the
lowest level input that is significant to the fair value measurement as a whole:

Level 1 - The fair value of financial instruments traded in active markets (such as publicly traded derivatives,
and equity securities) is based on quoted market prices at the end of the reporting period. The quoted market
price used for financial assets held by the group is the current bid price. These instruments are included in
level 1.

Level 2 - The fair value of financial instruments that are not traded in an active market is determined using
valuation techniques which maximise the use of observable market data and rely as little as possible on
entity-specific estimates. If all significant inputs required to fair value an instrument are observable, the
instrument is included in level 2.

Level 3 - If one or more of the significant inputs is not based on observable market data, the instrument is
included in level 3. This is the case for unlisted equity securities and investment in private equity funds, real
estate funds.

For the purpose of fair value disclosures, the Company has determined classes of assets and liabilities on the
basis of the nature, characteristics and risks of the asset or liability and the level of the fair value hierarchy as
explained above.

2.21 Non-current assets held for sale/distribution to owners and discontinued operations

The Company classifies non-current assets and disposal groups as held for sale/distribution if their carrying
amounts will be recovered principally through a sale/distribution rather than through continuing use. Actions
required to complete the sale/distribution should indicate that it is unlikely that significant changes to the sale
will be made or that the decision to sell will be withdrawn. Management expects that the sale/distribution will
be completed within one year from the date of classification.

The criteria for held for sale/distribution classification is regarded met only when the assets or disposal group
is available for immediate sale/distribution in its present condition, subject only to terms that are usual and
customary for sales/distribution of such assets (or disposal groups), its sale/distribution is highly probable;
and it will genuinely be sold, not abandoned.

Non-current assets held for sale/for distribution to owners and disposal groups are measured at the lower of
their carrying amount and the fair value less costs to sell/distribute. Assets and liabilities classified as held for
sale/distribution are presented separately in the balance sheet.

Property, plant and equipment and intangible assets once classified as held for sale/distribution are not
depreciated or amortised.

A disposal group qualifies as discontinued operation if it is a component of an entity that either has been
disposed of, or is classified as held for sale, and represents a separate major line of business or geographical
area of operations, is part of a single co-ordinated plan to dispose of a separate major line of business or
geographical area of operations.

Discontinued operations are excluded from the results of continuing operations and are presented as a
single amount as profit or loss after tax from discontinued operations in the statement of profit and loss.

2.22 Key Accounting Estimates And Judgments

The preparation of financial statements requires management to make judgments, estimates and assumptions
in the application of accounting policies that affect the reported amounts of assets, liabilities, income and
expenses. Actual results may differ from these estimates. Estimates and underlying assumptions are
reviewed on ongoing basis. Any changes to accounting estimates are recognized prospectively. Information
about critical judgments in applying accounting policies, as well as estimates and assumptions that have the
most significant effect on the amounts recognised in the financial statements are included in the following
notes:

(i) Useful lives of property, plant and equipment

The Company reviews the useful life of property, plant and equipment at the end of each reporting
period. This reassessment may result in change in depreciation expense in future periods.

(ii) Impairment of non - financial assets

Impairment exists when the carrying value of an asset or cash generating unit exceeds its recoverable
amount, which is the higher of its fair value less costs of disposal and its value in use. The fair value
less costs of disposal calculation is based on available data from binding sales transactions, conducted
at arm''s length, for similar assets or observable market prices less incremental costs for disposing of
the asset. The value in use calculation is based on a DCF model. The cash flows are derived from the
budget for the next five years and do not include restructuring activities that the Company is not yet
committed to or significant future investments that will enhance the asset''s performance of the CGU
being tested. The recoverable amount is sensitive to the discount rate used for the DCF model as well as
the expected future cash-inflows and the growth rate used for extrapolation purposes. These estimates
are most relevant to disclosure of fair value of investment property recorded by the Company.

(iii) Provision for Contingent Liabilities

On an ongoing basis, Company reviews pending cases, claims by third parties and other contingencies.
For contingent losses that are considered probable, an estimated loss is recorded as an accrual in
financial statements. Loss Contingencies that are considered possible are not provided for but disclosed
as Contingent liabilities in the financial statements. Contingencies the likelihood of which is remote are
not disclosed in the financial statements. Gain contingencies are not recognized until the contingency
has been resolved and amounts are received or receivable.

(iv) Valuation of deferred tax assets

The Company reviews the carrying amount of deferred tax assets at the end of each reporting period.
The policy for the same has been explained under note above.

(v) Defined benefit plans

The cost of the defined benefit gratuity plan and other post-employment medical benefits and the
present value of the gratuity obligation are determined using actuarial valuations. An actuarial valuation
involves making various assumptions that may differ from actual developments in the future. These
include the determination of the discount rate, future salary increases and mortality rates. Due to the
complexities involved in the valuation and its long-term nature, a defined benefit obligation is highly
sensitive to changes in these assumptions. All assumptions are reviewed at each reporting date.

Preshipment Credit includes

a) Preshipment credit taken from HDFC Bank in foreign currency amounting to Rs. Nil (PY: Rs. 5,092.24 ) Lakhs which
is primarily secured against hypothecation of stocks and book debts and collaterally secured by pledge of Fixed
Deposits held in the name of third parties (Shareholders).

b) Preshipment credit taken from Axis Bank in foreign currency amounting to Rs. 2,411.603 (PY: Rs. 2,971.22 ) Lakhs
which is primarily secured against pari passu charge by way of hypothecation of entire current assets and movable
fixed assets of the borrower with HDFC Bank, collateral security by pledge of lien of fixed deposit held in the name
of Managing Director and Spectra International Limited and exclusive charge by way of registered mortgage
on commercial property located at office No. 1, 2 & 3 4th Floor Grandeur Building, Veera Desai Road, Oshiwara
Mumbai Maharashtra 400053 and Commercial property located at Morya Classic Unit No 203 ,new link road ,
Veera Desai Road , Andheri west 400053 standing in the name of Spectra International Limited. The credit facility is
further secured by the personal guarantee of Managing Director and Corporate guarantee by Spectra International
Private Limited (formerly known as Spectra International Limited).

c) Preshipment credit (sub-limit of Export Packing credit) taken from ICICI Bank in the foreign currency amounting to
Rs. 634.8015 (PY Rs. Nil) Lakhs which is primarily secured against pari passu charge by way of hypothecation of
entire current assets and exclusive charge by way of registered mortgage on commercial property located at Morya
Classic Unite no 405, 406, 407 & 408, New Link Road, Veera Desai Road, Oshiwara Mumbai Maharashtra 400053.
The credit facility is further secured by the personal guarantee of Managing Director and Corporate Guarantee by
Spectra International Private Limited (formerly known as Spectra International Limited).

Export Packing Credit includes

Export Packing credit taken from HDFC Bank in the foreign currency amounting to Rs. Nil (PY Rs. 307.12) Lakhs which is
primarily secured against hypothecation of stocks and book debts and collaterally secured by pledge of Fixed Deposits
held in the name of third parties (Shareholder).

Note 44 : Leases

In current year, the Company has recognised Interest on Lease Liability and Amortization of Right of use Asset as per
IndAS 116 ''Lease'' in the statement of Profit and Loss as under

- Finance Cost'' in Note no. 34 Interest on Lease Liability of Rs. 34.25 lakhs (PY 44.04 lakhs).

- Depreciation and Amortization expense'' in Note no. 35. Amortization of Lease Liability of Rs. 114.74 Lakhs (PY Rs.
116.66 Lakhs).

- The total outstanding cash outflow for lease as per the agreement is Rs. 308.23 Lakhs (PY Rs. 481.67 Lakhs).

- There has been addition to right of use asset in the current period of Rs 4.24 lakhs (PY Rs. 0.65 Lakhs).

- There has been deletion to right of use asset in the current period of Rs 2.06 Lakhs (PY Rs 0.95 Lakhs).

The Company has taken premises under leave and license agreement, the rent and escalation depends upon the lease

by the Company. The Company has entered into an lease agreement for the period of 5 years, with escalation clause.

The disclosure requirement and maturity analysis of lease liability and asset as per IndAS 107 ''Financial Instrument :
Disclosures'' are as follows:

The management assessed that the fair value of cash and cash equivalent, and other current financial assets and
liabilities approximate their carrying amounts largely due to the short term maturities of these instruments.

Level 1: The fair value of financial instruments traded in active markets (such as publicly traded derivatives, and
equity securities) is based on quoted market prices at the end of the reporting period. The quoted market price
used for financial assets held by the group is the current bid price. These instruments are included in level 1.

Level 2: The fair value of financial instruments that are not traded in an active market is determined using valuation
techniques which maximise the use of observable market data and rely as little as possible on entity-specific
estimates. If all significant inputs required to fair value an instrument are observable, the instrument is included
in level 2.

Level 3: If one or more of the significant inputs is not based on observable market data, the instrument is included
in level 3. This is the case for unlisted equity securities and investment in private equity funds, real estate funds.

ii. Valuation technique used to determine fair value

Specific Valuation techniques used to value financial instruments include:

- the use of quoted market prices or dealer quotes for similar instruments

- the fair value of unquoted equity instruments has been measured on the basis of their net worth and valuation

of their shares.

- the fair value of equity shares of group companies are measured at cost.

- the fair value of the remaining financial instruments is determined using discounted cash flow analysis

iii. Valuation processes

The finance department of the company includes a team that performs the valuations of financial assets and
liabilities required for financial reporting purposes, including level 3 fair values.

Note 46 : Capital Management

For the purpose of the Company''s capital management, capital includes issued equity share capital, securities premium
and all other reserves attributable to the equity holders of the Company. The primary objective of the Company''s capital
management is to maximise the value of the share and to reduce the cost of capital.

The Company has exposure to the following risks arising from financial instruments:

- Market Risk;

- Credit Risk; and

- Liquidity Risk

(A) Market risk

Market risk is the risk that the fair value of future cash flows of a financial instrument will fluctuate because of
change in market prices. Market risk comprises three types of risk: foreign currency risk, interest rate risk and
other price risk such as equity price risk and commodity/real estate risk.

(i) Foreign currency risk

The Company operates across various geographies and is exposed to foreign exchange risk on its various
currency exposures. The risk of changes in foreign exchange rates relates primarily to the Company''s
operating activities and translation risk, which arises from recognition of foreign currency assets and
liabilities.

Foreign currency Risk Management

In respect of the foreign currency transactions, the company has designated certain foreign exchange
forward contracts as cash flow hedges to mitigate the risk of foreign currency exposure on highly probable
forecasted transactions. In addition to the above the company has a natural hedge on trade receivables
through packing credit facility.

(ii) Interest rate risk

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 interest rate risk can also impact the provision for retiral
benefits. The Company generally utilises fixed rate borrowings and therefore not subject to interest rate risk,
since neither the carrying amount nor the future cash flows will fluctuate because of change in the market
interest rates.

The Company is not exposed to significant interest rate risk as at the respective reporting dates.

(iii) Equity price risk

The Company is exposed to equity price risk, which arises from FVTPL and FVOCI investments. The
Company''s unlisted equity securities are of subsidiary and deemed cost of the same are taken as per the
valuation report. The value of the financial instruments is not material and accordingly any change in the
value of these investments will not affect materially the profit or loss of the Company.

(B) Credit risk

Credit risk is the risk that counterparty will not meet its obligations under a financial instrument or customer
contract, leading to a financial loss. The Company is exposed to credit risk from its operating activities (primarily
trade receivables) and from its financing activities, including deposits with banks and financial institutions and
other financial instruments.

Trade Receivable

Customer credit risk is managed by the Company''s established policy, procedures and control relating to customer
credit risk management. The Company is in the business of export of FMCG, Cosmetics and other products. Credit
quality of a customer is assessed by the management on regular basis with market information and individual
credit limits are defined accordingly. Outstanding customer receivables are regularly monitored and any further
services to major customers are approved by the senior management.

An impairment analysis is performed at each re-equipment date on an individual basis for major customers. In
addition, a large number of minor receivables are grouped into homogenous groups and assessed for impairment
collectively. The maximum exposure to credit risk at the re-equipment date is the carrying value of each class of
financial assets disclosed in Note 10.

On account of adoption of Ind-AS 109, the Company uses expected credit loss model to assess the impairment
loss or gain. The Company uses a provision matrix to compute the expected credit loss allowance for trade
receivables. The provision matrix takes into account available external and internal credit risk factors and the
Company''s historical experience for customers. The movement of allowance for impairments of trade receivables
are as follows

Credit risk from balances with banks and financial institutions is managed by the Company''s finance department
in accordance with the Company''s policy. Investments of surplus funds are made generally in the fixed deposits
and for funding to subsidiary company. The investment limits are set to minimise the concentration of risks and
therefore mitigate financial loss to make payments for vendors

The Company''s maximum exposure to credit risk for the components of the balance sheet at March 31,2025 and
March 31,2024 is the carrying amounts as stated in balance sheet except for balances of subsidiary company. The
Company''s maximum exposure relating to financial guarantees and financial derivative instruments is noted in
the liquidity table below.

(C) Liquidity risk

Liquidity risk is defined as the risk that the Company will not be able to settle or meet its obligations on time or at
reasonable price. Prudent liquidity risk management implies maintaining sufficient cash and marketable securities
and the availability of funding through an adequate amount of credit facilities to meet obligations when due. The
Company''s finance team is responsible for liquidity, funding as well as settlement management. Management
monitors the Company''s liquidity position through rolling forecasts on the basis of expected cash flows.

The tables have been drawn up based on the undiscounted cash flows of financial liabilities based on the earliest
date on which the Company can be required to pay. In the table below, borrowings include both interest and
principal cash flows.

Note 48 : Other Statutory Information

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

ii The Company do not have any charges or satisfaction which is yet to be registered with Registrar of Companies
(''ROC'') beyond the statutory period.

iii The Company has not been declared as wilful defaulter by any bank or financial institutions or other lenders.

iv During the year, the Company has not revalued its Property, Plant and Equipments.

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

vi The Company have not advanced or loaned or invested funds to 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

vii The Company have 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,

viii The Company have not any such transaction which is not recorded in the books of accounts that has been
surrendered or disclosed as income during the year in the tax assessments under the Income Tax Act, 1961 (such
as, search or survey or any other relevant provisions of the Income Tax Act, 1961.

ix Based on the information available with the Company, the Company do not have any transactions with companies
struck off under section 248 of the Companies Act, 2013 or section 560 of Companies Act, 1956.

x Reconciliation of Quarterly Returns submitted to Banks :

The Company has availed credit facilities from HDFC Bank against security of its Current Assets. The Company has
filed all returns regularly. There has been no material differences and the amount as per books of account are in
agreement with amount as reported in quarterly returns except as mentioned herein below :

Note 51 : Segmental Reporting
a. Primary Segments - Business Segment :

Based on the guiding principles given in Ind-AS - 108 ''Operating Segment'' prescribed under Section 133 of the
Companies Act, 2013 read with the relevant rules issued thereunder and other accounting principles accepted
in India, the Company''s primary business consist of; "Export of FMCG, Cosmetics and other products''. As the
Company''s business actually falls within a single primary business segment, the disclosure requirements of Ind
AS - 108 in this regard are not applicable.

Note 52 : In the opinion of the Board the Current Assets, Loans & Advances are realisable in the ordinary course of
business at least equal to the amount at which they are stated in the Balance Sheet. The provision for all known liabilities
is adequate and not in excess of amount reasonably necessary.

Note 53 : The Code on Social Security, 2020 (''Code'') relating to employee benefits during employment and post¬
employment benefits received Presidential assent in September 2020. The Code has been published in the Gazette of
India. However, the date on which the Code will come into effect has not been notified and the final rules/ interpretation
have not yet been issued. The Company will assess the impact of the Code when it comes into effect and will record
any related impact in the period the Code becomes effective.

Note 54 : The Company has used accounting software for maintaining its books of account which has a feature of
recording audit trail (edit log) facility and the same has operated throughout the year for all relevant transactions
recorded in the software. Further, there are no instance of audit trail feature being tampered and the audit trail has been
preserved by the company as per the statutory requirements for record retention.

Note 55 : Figures of previous year have been regrouped / rearranged wherever necessary.

In terms of our report of even date For and on behalf of the Board of Directors of

For JASS & Co LLP Lykis Limited

(formerly known as Singrodia & Co LLP)

Chartered Accountants

Firm Registration No.: W100280

Akshay Agarwal Nadir Dhrolia Shafeen Charania

Partner Managing Director Non-Executive Director

Membership No.: 170148 03303675 07283015

UDIN : 25170148BMLGFT8661

Shrigopal Kandoi Darshana Sawant

Chief Financial Officer Company Secretary

Date : May 23, 2025 Date : May 23, 2025

Place : Mumbai Place : Mumbai

---

Mar 31, 2024

B. Terms & Conditions

Terms / rights attached to equity shares

The company has only one class of equity shares having par value of ''10 per share. Each holder of equity shares is entitled to one vote per share. 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 shareholders.

C. Reconciliation of number of shares outstanding at the beginning and at the end of the reporting year Equity Shares:

Preshipment Credit includes

a) Preshipment credit taken from HDFC Bank in foreign currency amounting to '' 5,092.24 (PY: '' 8,444.17) Lakhs which is primarily secured against hypothecation of stocks and book debts and collaterally secured by pledge of Fixed Deposits held in the name of third parties (Shareholders).

b) Preshipment credit taken from Axis Bank in foreign currency amounting to '' 2,971.22 (PY: '' 1,631.50) Lakhs which is primarily secured against pari passu charge by way of hypothecation of entire current assets and movable fixed assets of the borrower with HDFC Bank, collateral security by pledge of lien of fixed deposit

held in the name of Managing Director and Spectra International Limited and exclusive charge by way of registered mortgage on commercial property located at office No. 1,2 & 3, 4th Floor Grandeur Building, Veera Desai Road, Oshiwara Mumbai Maharashtra 400053 and Commercial property located at Morya Classic Unit No 203, new link road, Veera Desai Road, Andheri west 400053 standing in the name of Spectra International Limited. The credit facility is further secured by the personal guarantee of Managing Director and Corporate guarantee by Spectra International Limited.

c) Preshipment credit taken from ICICI Bank in the foreign currency amounting to '' Nil (PY '' 134.60) Lakhs which is secured against Fixed Deposit held in the name of third party (Shareholders).

Export Packing Credit includes

Export Packing credit taken from HDFC Bank in the foreign currency amounting to '' 307.12 (PY '' 2,285.00) Lakhs which is primarily secured against hypothecation of stocks and book debts and collaterally secured by pledge of Fixed Deposits held in the name of third parties (Shareholder).

Note: ^Disclosures required under Section 22 of the Micro, Small and Medium Enterprises Development Act, 2006.

The Management has identified enterprises which have provided goods and services to the Company and which qualify under the definition of micro and small enterprises as defined under the Micro, Small and Medium Enterprises Development Act, 2006. Accordingly, the disclosure in respect of amounts payable to such enterprises as at 31st March, 2024 has been made based on the information available with the Company.

Note : 36(b) Details of CSR Expenditure

As per section 135 of the Act, a company meeting the applicability threshold, is required to spend at least 2% of its average net profit for the immediate preceeding three financial years on CSR activities. The area of CSR activities are eradicating hunger, poverty and malnutrition, promoting education, promoting healthcare including preventive healthcare. A CSR committee has been formed by the company under the act.

38. Contingent Liabilities & Commitments		(INR in Lakhs)
Particulars	As at March 31,2024	As at March 31, 2023
a) Contingent Liabilities	-	-
b) Guarantees given by the bank on behalf of the company	-	51.00

Notes :

a. During the year, the company has filed appeal with the appellate authority regarding the dispute raised by the GST department on the refund of '' 27.80 Lakhs.

b. The company has received details of all its pending litigations & Proceedings and has disclosed contingent liability wherever applicable in the financial statements. The company does not expect the outcome of those proceedings to have materially adverse effect on its financial position.

Breakup of compensation to key managerial personnel

Key management personnel are those persons having authority and responsibility for planning, directing and controlling the activities of the entity, directly or indirectly, including any director (whether executive or otherwise) of that entity.

43. Leases

In current year, the Company has recognised Interest on Lease Liability and Amortization of Right of use Asset as per IndAS 116 ''Lease'' in the statement of Profit and Loss as under

- Finance Cost'' in Note no. 34 Interest on Lease Liability of '' 44.04 Lakhs (PY '' 51.49 Lakhs).

- Depreciation and Amortization expense'' in Note no. 35. Amortization of Lease Liability of ''116.66 Lakhs (PY '' 115.78 Lakhs).

- The total outstanding cash outflow for lease as per the agreement is '' 481.67 Lakhs (PY '' 615.00 Lakhs).

- There has been addition to right of use asset in the current period of '' 0.65 Lakhs (PY '' 572.25 Lakhs).

- There has been deletion to right of use asset in the current period of '' 0.95 Lakhs (PY '' 355.43 Lakhs).

The Company has taken premises under leave and license agreement, the rent and escalation depends upon the

lease by the Company. The Company has entered into an lease agreement for the period of 5 years, with escalation clause.

The disclosure requirement and maturity analysis of lease liability and asset as per IndAS 107 ''Financial Instrument : Disclosures'' are as follows:

The management assessed that the fair value of cash and cash equivalent, and other current financial assets and liabilities approximate their carrying amounts largely due to the short term maturities of these instruments.

Level 1: The fair value of financial instruments traded in active markets (such as publicly traded derivatives, and equity securities) is based on quoted market prices at the end of the reporting period. The quoted market price used for financial assets held by the group is the current bid price. These instruments are included in level 1.

Level 2: The fair value of financial instruments that are not traded in an active market is determined using valuation techniques which maximise the use of observable market data and rely as little as possible on entity-specific estimates. If all significant inputs required to fair value an instrument are observable, the instrument is included in level 2.

Level 3: If one or more of the significant inputs is not based on observable market data, the instrument is included in level 3. This is the case for unlisted equity securities and investment in private equity funds, real estate funds.

ii. Valuation technique used to determine fair value

Specific Valuation techniques used to value financial instruments include:

- the use of quoted market prices or dealer quotes for similar instruments.

- the fair value of unquoted equity instruments has been measured on the basis of their net worth and valuation of their shares.

- the fair value of equity shares of group companies are measured at cost.

- the fair value of the remaining financial instruments is determined using discounted cash flow analysis.

iii. Valuation processes

The finance department of the company includes a team that performs the valuations of financial assets and liabilities required for financial reporting purposes, including level 3 fair values.

45. Capital Management

For the purpose of the Company''s capital management, capital includes issued equity share capital, securities premium and all other reserves attributable to the equity holders of the Company. The primary objective of the Company''s capital management is to maximise the value of the share and to reduce the cost of capital.

The Company manages its capital structure and makes adjustments in light of changes in economic conditions and the requirements of the financial covenants. To maintain or adjust the capital structure, the Company can adjust the dividend payment to shareholders, issue new shares, etc. The Company monitors capital using a gearing ratio, which is net debt divided by total equity. The Company includes within net debt, interest bearing loans and borrowings, less cash and cash equivalents.

46. Financial Risk Management

The Company has exposure to the following risks arising from financial instruments:

- Market Risk;

- Credit Risk; and

- Liquidity Risk

(A) Market risk

Market risk is the risk that the fair value of future cash flows of a financial instrument will fluctuate because of change in market prices. Market risk comprises three types of risk: foreign currency risk, interest rate risk and other price risk such as equity price risk and commodity/real estate risk.

(i) Foreign currency risk

The Company operates across various geographies and is exposed to foreign exchange risk on its various currency exposures. The risk of changes in foreign exchange rates relates primarily to the Company''s operating activities and translation risk, which arises from recognition of foreign currency assets and liabilities.

Foreign currrency risk management

In respect of the foreign currency transactions, the company has designated certain foreign exchange forward contracts as cash flow hedges to mitigate the risk of foreign currency exposure on highly probable forecasted transactions. In addition to the above the company has a natural hedge on trade receivables through packing credit facility.

(ii) Interest rate risk

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 interest rate risk can also impact the provision for retiral benefits. The Company generally utilises fixed rate borrowings and therefore not subject to interest rate risk, since neither the carrying amount nor the future cash flows will fluctuate because of change in the market interest rates.

The Company is not exposed to significant interest rate risk as at the respective reporting dates.

(iii) Equity price risk

The Company is exposed to equity price risk, which arises from FVTPL and FVOCI investments. The Company''s unlisted equity securities are of subsidiary and deemed cost of the same are taken as per the valuation report. The value of the financial instruments is not material and accordingly any change in the value of these investments will not affect materially the profit or loss of the Company.

(B) Credit risk

Credit risk is the risk that counterparty will not meet its obligations under a financial instrument or customer contract, leading to a financial loss. The Company is exposed to credit risk from its operating activities (primarily trade receivables) and from its financing activities, including deposits with banks and financial institutions and other financial instruments.

Trade Receivable

Customer credit risk is managed by the Company''s established policy, procedures and control relating to customer credit risk management. The Company is in the business of export of FMCG, Cosmetics and other products. Credit quality of a customer is assessed by the management on regular basis with market information and individual credit limits are defined accordingly. Outstanding customer receivables are regularly monitored and any further services to major customers are approved by the senior management.

An impairment analysis is performed at each re-equipment date on an individual basis for major customers. In addition, a large number of minor receivables are grouped into homogenous groups and assessed for impairment collectively. The maximum exposure to credit risk at the re-equipment date is the carrying value of each class of financial assets disclosed in Note 10.

On account of adoption of Ind-AS 109, the Company uses expected credit loss model to assess the impairment loss or gain. The Company uses a provision matrix to compute the expected credit loss allowance for trade receivables. The provision matrix takes into account available external and internal credit risk factors and the Company''s historical experience for customers. The movement of allowance for impairments of trade receivables are as follows:

Financial Instrument and cash deposits

Credit risk from balances with banks and financial institutions is managed by the Company''s finance department in accordance with the Company''s policy. Investments of surplus funds are made generally in the fixed deposits and for funding to subsidiary company. The investment limits are set to minimise the concentration of risks and therefore mitigate financial loss to make payments for vendors.

The Company''s maximum exposure to credit risk for the components of the balance sheet at March 31,2024 and March 31,2023 is the carrying amounts as stated in balance sheet except for balances of subsidiary company. The Company''s maximum exposure relating to financial guarantees and financial derivative instruments is noted in the liquidity table below.

(C) Liquidity risk

Liquidity risk is defined as the risk that the Company will not be able to settle or meet its obligations on time or at reasonable price. Prudent liquidity risk management implies maintaining sufficient cash and marketable securities and the availability of funding through an adequate amount of credit facilities to meet obligations when due. The Company''s finance team is responsible for liquidity, funding as well as settlement management. Management monitors the Company''s liquidity position through rolling forecasts on the basis of expected cash flows.

The tables have been drawn up based on the undiscounted cash flows of financial liabilities based on the earliest date on which the Company can be required to pay. In the table below, borrowings include both interest and principal cash flows.

47. Other Statutory Information

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

ii. The Company do not have any charges or satisfaction which is yet to be registered with Registrar of Companies (''ROC'') beyond the statutory period.

iii. The Company has not been declared as wilful defaulter by any bank or financial institutions or other lenders.

iv. During the year, the Company has not revalued its Property, Plant and Equipments.

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

vi. The Company have not advanced or loaned or invested funds to 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

vii. The Company have 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

viii. The Company have not any such transaction which is not recorded in the books of accounts that has been surrendered or disclosed as income during the year in the tax assessments under the Income Tax Act, 1961 (such as, search or survey or any other relevant provisions of the Income Tax Act, 1961.

ix. Based on the information available with the Company, the Company do not have any transactions with companies struck off under section 248 of the Companies Act, 2013 or section 560 of Companies Act, 1956.

x. Reconciliation of Quarterly Returns submitted to Banks:

The Company has availed credit facilities from HDFC Bank against security of its Current Assets. The Company has filed all returns regularly. There has been no material differences and the amount as per books of account are in agreement with amount as reported in quarterly returns except as mentioned herein below:

The Quarterly statements were prepared and filed before the completion of all financial statement closure activities, which led to certain differences between the final books of accounts and the quarterly statements which were based on provisional books of accounts.

50. Segmental Reporting:

a. Primary Segments - Business Segment :

Based on the guiding principles given in Ind AS - 108 ''Operating Segment'' prescribed under Section 133 of the Companies Act, 2013 read with the relevant rules issued thereunder and other accounting principles accepted in India, the Company''s primary business consist of; "Export of FMCG, Cosmetics and other products''. As the Company''s business actually falls within a single primary business segment, the disclosure requirements of Ind AS - 108 in this regard are not applicable.

51: In the opinion of the Board the Current Assets, Loans & Advances are realisable in the ordinary course of business at least equal to the amount at which they are stated in the Balance Sheet. The provision for all known liabilities is adequate and not in excess of amount reasonably necessary.

52: The Code on Social Security, 2020 (''Code'') relating to employee benefits during employment and post-employment benefits received Presidential assent in September 2020. The Code has been published in the Gazette of India. However, the date on which the Code will come into effect has not been notified and the final rules/ interpretation have not yet been issued. The Company will assess the impact of the Code when it comes into effect and will record any related impact in the period the Code becomes effective.

53: During the year, the registered office of the company is shifted from West Bengal to Mumbai w.e.f. 03^rd November, 2023 and relevant certificate from regional director has been received in this regard.

54: Figures of previous year have been regrouped / rearranged wherever necessary.

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Mar 31, 2018

Note:

(a) These facilities are secured against the following charge on various assets of the Company :

1. Primary : Hypothecation charge on the entire current assets of the Company, both present & future.

2. Collateral : Fixed deposits of third Party and Fixed deposit of the company.

(b) Working Capital Loan from ICICI Bank Limited amounting INR 8,759.27 lakhs (March 31, 2018) and INR 6,786.26 lakhs (March 31, 2017) and DBS Bank Limited INR 683.09 lakhs (March 31, 2018) and INR 574.17 lakhs (March 31, 2017) Bank overdraft facility from Indian Bank amounting to INR 42.71 Lakhs as on March 31, 2018 and INR 44.92 Lakhs as on March 31, 2017.

Note: The above other financial liabilities includes Foreign Currency Forward and Options Contracts and Liability for Corporate Guarantee. Only observable inputs directly and indirectly are available to recognize the same at fair value, accordingly fair value measurement is done considering the Level-2 of Fair Value Hierarchy as per the Ind AS 113.

Note 41 - Financial Risk Management Objectives and Policies

The Company''s principal financial liabilities, other than derivatives, comprise loans and borrowings, trade and other payables, and financial guarantee contracts. The main purpose of these financial liabilities is to finance the Company''s operations and to provide guarantees to support its operations directly or indirectly. The Company''s principal financial assets include investments, loans, trade and other receivables, cash and cash equivalents that derive directly from its operations.

The Company is exposed to market risk, credit risk and liquidity risk. The below note explains the sources of risk which the entity is exposed to and how the entity manages the risk :

Credit Risk

Credit risk is the risk that counterparty will not meet its obligations under a financial instrument or customer contract, leading to a financial loss. The Company is exposed to credit risk from its operating activities (primarily trade receivables) and from its financing activities, including deposits with banks and financial institutions and other financial instruments.

Trade receivables

Customer credit risk is managed by the Company''s established policy, procedures and control relating to customer credit risk management. The Company is in the business of Trading of Tea and FMCG goods. Credit quality of a customer is assessed by the management on regular basis with market information and individual credit limits are defined accordingly. Outstanding customer receivables are regularly monitored and any further services to major customers are approved by the senior management.

An impairment analysis is performed at each re-equipmenting date on an individual basis for major customers. In addition, a large number of minor receivables are grouped into homogenous groups and assessed for impairment collectively. The maximum exposure to credit risk at the re-equipmenting date is the carrying value of each class of financial assets disclosed in Note 15.

On account of adoption of Ind AS 109, the Company uses expected credit loss model to assess the impairment loss or gain. The Company uses a provision matrix to compute the expected credit loss allowance for trade receivables. The provision matrix takes into account available external and internal credit risk factors and the Company''s historical experience for customers.

Financial instruments and cash deposits

Credit risk from balances with banks and financial institutions is managed by the Company''s finance department in accordance with the Company''s policy. Investments of surplus funds are made generally in the fixed deposits and for funding to subsidiary company. The investment limits are set to minimize the concentration of risks and therefore mitigate financial loss to make payments for vendors.

The Company''s maximum exposure to credit risk for the components of the balance sheet at March 31, 2018 and March 31, 2017 is the carrying amounts as stated in balance sheet except for balances of subsidiary company. The Company''s maximum exposure relating to financial guarantees and financial derivative instruments is noted in the liquidity table below.

Liquidity Risk

The Company monitors its risk of a shortage of funds using a liquidity planning tool.

The Company''s objective is to maintain a balance between continuity of funding and flexibility through the use of bank loans, preference shares and unsecured loans. The Company has access to a sufficient variety of sources of funding which can be rolled over with existing lenders. The Company believes that the working capital is sufficient to meet its current requirements.

The table below provides details regarding the maturities of significant financial liabilities as of March 31, 2018, March 31, 2017 and March 31, 2016:

Market Risk

Market risk comprises two types of risk: interest rate risk and currency risk. Financial instruments affected by market risk include loans and borrowings, deposits and derivative financial instruments.

Interest rate risk

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''s exposure to the risk of changes in market interest rates relates primarily to the Company''s long-term debt obligations with floating interest rates.

The Company manages its interest rate risk by having a balanced Equipment folio of fixed and variable rate loans and borrowings. The Company''s policy is to keep balance between its borrowings at fixed rates of interest. To manage this, the Company enters into interest rate swaps, in which it agrees to exchange, at specified intervals, the difference between fixed and variable rate interest amounts calculated by reference to an agreed-upon notional principal amount.

Foreign Currency Fluctuation Risk

Foreign Currency Fluctuation Risk is one of the key risk impacting our business. The offshore part of the revenue remains exposed to the risk of Rupee appreciation which is the functional currency of the company vis-a-vis US Dollar, the cost incurred are in Indian rupees and the revenue inflow are in foreign currency. Any weakening of the currency of the functional currency may impact the Company''s cost of Import and cost of borrowing and consequently may increase the cost of financing the Company''s expenditure.

The Company evaluates the impact of foreign exchange rate fluctuations by assessing its exposure to exchange rate risks.

Equity price risk

The Company''s unlisted equity securities are of subsidiary and deemed cost of the same are taken as previous GAAP carrying value (i.e. cost of acquisition). The value of the financial instruments is not material and accordingly any change in the value of these investments will not affect materially the profit or loss of the Company.

Note 42 : Capital Management

For the purpose of the Company''s capital management, capital includes issued equity share capital, securities premium and all other reserves attributable to the equity holders of the Company. The primary objective of the Company''s capital management is to maximize the value of the share and to reduce the cost of capital.

The Company manages its capital structure and makes adjustments in light of changes in economic conditions and the requirements of the financial covenants. To maintain or adjust the capital structure, the Company can adjust the dividend payment to shareholders, issue new shares, etc. The Company monitors capital using a gearing ratio, which is net debt divided by total equity. The Company includes within net debt, interest bearing loans and borrowings, less cash and cash equivalents.

Note 43 - Segment Information I. Information about Primary Business Segment

The Company has identified business segments as its primary segment and geographic segments as its secondary segment. The Company is engaged in Trading of FMCG Goods and related activities during the year, consequently the Company is having separate reportable business segment for the year ended March 31, 2018.

II. Following are the reportable business segments:

(i) Tea

(ii) FMCG

Revenue and expenses directly attributable to segments are reported under each reportable business segment. Common expenses which are not directly identifiable to each reporting segment have been allocated to each reporting segment on the basis of associated revenues of the segment. All other expenses which are not attributable or allocable segments have disclosed as unallocated expenses.

III. Information about Secondary Geographical Segment

The Company does not have separate reportable geographical segment for the year ended March 31, 2018 and March 31, 2017.

IV. Sensitivity Analysis

The below sensitivity analyses are based on a change in an assumption while holding all other assumptions constant. In practice, this is unlikely to occur, and changes in some of the assumptions may be correlated. When calculating the sensitivity of the defined benefit obligation to significant actuarial assumptions the same method (present value of the defined benefit obligation calculated with the projected unit credit method at the end of the reporting period) has been applied as when calculating the defined benefit liability recognized in the balance sheet. The methods and types of assumptions used in preparing the sensitivity analysis did not change compared to the prior period.

Notes:

1. The list of related parties above has been limited to entities with which transactions have taken place.

2. Related party transactions have been disclosed till the time the relationship existed.

Note:

a) No provision for interest has been made on the advances or loan taken or given pending reconciliation and confirmation of respective parties.

b) The company has given undertaking to pay '' 88,000/- to DGFT by way of bank guarantee for taking the EPCG Licence. The said bank guarantee is issued by Indian Bank, silchar Branch against Fixed Deposit of the same amount

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Mar 31, 2016

i (a) 45,000 Equity Shares of Rs. 10/- each issued as fully paid up for consideration other than Cash.

(b) 12,75,340 Equity Shares of Rs.10/- each issued as fully paid up bonus shares through capitalization of Reserves and Surplus.

(c) The above (a) and (b) were not issued within the period of five years immediately preceding the date as at 31st March, 2016.

(d) 22,07,350 Equity shares of Rs.10 /- each are forfeited shares.

(e) During the year the Company has allotted 9,68,000 nos. of Equity Shares.

ii Terms / rights attached to equity shares.

The company has only one class of equity shares having par value of Rs.10/- per share. Each holder of equity shares is entitled to one vote per share. 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 shareholders.

As per records of the company, including its register of shareholders / members, the above shareholding represents both legal and beneficial ownership of shares.

(a) No provision for interest has been made on the advances taken or given pending reconciliation and confirmation of respective parties.

(b) The company has given unconditional undertaking to Pay Rs. 88000/- to DGFT by way of bank Guarantee for taking the EPCG License.

The said bank guarantee is issued by Indian Bank , Silchar Branch against Fixed deposit of the same amount.

1. There is a agriculture Income Tax Demand of Rs. 6,79,380/- for the Asst. Year 2007-08 which has been disputed by the Company.

2. Pursuant to the transition provisions prescribed in Schedule II to the Companies Act, 2013, the Company has fully depreciated the carrying value of the assets, net of residual value, where the remaining useful life of the asset was determined to be Nil as on 1 April, 2014, and has adjusted an amount of Rs.52,58,387/- against the opening surplus balance in the Statement of Profit and Loss under Reserves and Surplus.

3. Previous year figure has been regrouped or rearranged wherever it is required to be done.

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Mar 31, 2015

1. CONTINGENT LIABILITIES NOT PROVIDED FOR

(a) No provision for interest has been made on the advances taken or given pending reconciliation and confirmation of respective parties.

(b) The company has given unconditional undertaking to Pay Rs. 88,000/- to DGFT by way of Bank Guarantee for taking the EPCG Licence. The said bank guarantee is issued by Indian Bank , Silchar Branch against Fixed deposit of the same amount.

2. During the current financial year company has written off Rs 1,74,63,292.42 on a/c of DFIA which was receivable against the export made in earlier year but could not be claimed with the government authority due to non compliance of DGFT norms, statutory authority sanctioning the export benefit, DFIA etc.

3. There is a agriculture income Tax Demand of Rs. 6,79,380/- for the Asst.Year 2007-08 which has been disputed by the Company.

4. Pursuant to the transition provisions prescribed in Schedule Il to the Companies Act, 2013, the Company has fully depreciated the carrying value of the assets, net of residual value, where the remaining useful life of the asset was determined to be Nil as on 1 April, 2014, and has adjusted an amount of Rs.52,58,387/- against the opening surplus balance in the Statement of Profit and Loss under Reserves and Surplus.

5. Previous year figure has been regrouped or rearranged wherever it is required to be done.

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Mar 31, 2014

1. (a) 45,000 Equity Shares of Rs.10/-each issued as fully paidup for consideration other than Cash.

(b) 12,75,340 Equity Shares of Rs. 10/- each issued as fully paid up bonus shares through capitalisation of Reserves and Surplus.

(c) The above (a) and (b) were not issued within the period of five years immediately preceding the date as at 31st March, 2014.

(d) 22,07,350 Equity shares of Rs. 10/-each are forfeited shares.

(e) During the year the Company has allotted 40,00,005 nos. of Equity Shares.

2 Terms / rights attached to equity shares.

The company has only one class of equity shares having par value of Rs. 10/- per share. Each holder of equity shares is entitled to one vote per share. 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 shareholders.

Based on the information/documents available with the Company no creditors is covered under Micro, Small and Medium Enterprise Development Act, 2006. As a result, no interest provision/payments have been made by the Company to such creditors, if any, and no disclosures thereof are made in this financial statement.

3 CONTINGENT LIABILITIES NOT PROVIDED FOR

(a) The liabilties for future payment of Gratuity to employees is roughly estimated and provided to the extent of Rs. 33,712.54 and not based on actuarial basis.

(b) No provision for interest has been made on the advances taken or given pending reconciliation and confirmation of respective parties.

(c) The company has given unconditional undertaking to Pay Rs. 88,000/- to DGFT by way of Bank Guarantee for taking the EPCG Licence. The said bank guarantee is issued by Indian Bank, Silchar Branch aginst Fixed deposit of the same amount.

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Mar 31, 2013

1 CONTINGENT LIABILITIES NOT PROVIDED FOR

(a) The liabilties for future payment of Gratuity to employees is roughly estimated and provided to the extent of Rs. 1,03,948.34 and not based on acturial basis.

(b) No provision for interest has been made on the advances taken or given pending reconciliation and confirmation of balances from parties. Balances of Trade receivable .Trade Payable & Advances are subject to confirmation from respective parties.

(c) The company has given unconditional undertaking to Pay Rs. 88,000/- to DGFT by way of Bank Guarantee for taking the EPCG Licence. The said bank guarantee is issued by Indian Bank , Silchar Branch aginst Fixed deposit of the same amount.

2 RELATED PARTY DISCLOSURE

In terms of Accounting Standard 18 -the related party disclosure are given below :

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

Name of the Related Party Relationship

Jin-X Marketing Pvt. Ltd. Subsidiary Company

Lykis Pharma Pvt. Ltd Subsidiary Company

Sanzi Group Import & Export Enterprises over which key Managerial personnel are able to exercise significant influence

Kedia Securities Pvt. Ltd. Enterprises over which key Managerial personnel are able to exercise significant influence

Sanzi International Pvt. Ltd. Enterprises over which key Managerial personnel are able to exercise significant influence

Vljay Kishanlal Kedia Key Managerial Personnel

Prince Tulsian Key Managerial Personnel

3. Previous year figure has been regrouped or rearranged wherever necessary.

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Mar 31, 2012

I (a) 45,000 Equity shares of Rs10/- each issued as fully paid up for consideration other than Cash.

(b) 12,75,340 Equity shares of Rs 10/- each issued as fully paid up bonus shares through Capitalisation of Reserves and Surplus.

(c) The above (a) and (b) were not issued within the period of five years immediately preceding the date as at 31 st March, 2012.

(d) 22,07,350 Equity shares of Rs10 /- each are forfeited shares.

ii Terms / rights attached to equity shares.

The company has only one class of equity shares having par value of Rs.10/- per share. Each holder of equity shares is entitled to one vote per share. 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 shareholders.

i Terms and conditions : Company has received part Share Application money amounting to Rs.4,00,00,050/- against issue of Preferential Equity Shares.

ii Number of shares proposed to be issued - 53,33,340 nos of Equity Shares of Rs.10/-each

iii Theamountof premium, ifany- Premium ofRs 5/- per equity share.

iv The period before which shares are to be alloted - 53,33,340 nos of Equity Shares to be alloted on or before 09.04.2012.

v Whether the company has sufficient authorized share capital to cover the share capital amount on allotment of shares Out of share application money - Yes the Company has sufficient Authorised Capital to cover up the allotment of above Shares.

vi The period for which the share application money has been pending beyond the period for allotment as mentioned in the share application form along with the reasons for such share - application money being pending.- There is no Application money pending beyond the period as mentioned in the Share Application Form.

1 CONTINGENT LIABILITIES NOT PROVIDED FOR

(a) The liabilties for future payment of Gratuity to employees is roughly estimated and provided to the extent of Rs1,27,900.34 and not based on actuarial basis.

(b) No provision for interest has been made on the advances or loan taken or given pending reconciliation and confirmation of balances from parties. Balances of Trade Receivable .Trade Payable and Loans and Advances are subject to confirmation from respective parties.

(c) The company has given unconditional undertaking to Pay Rs 88,000/- to DGFT by way of Bank Guarantee for taking the EPCG Licence. The said bank guarantee is issued by Indian Bank, Silchar Branch against Fixed deposit of the same amount.

2 EXPENDITURE IN FOREIGN CURRENCY & EARNINGS IN FOREIGN EXCHANGE

During the year company has neither incurred any expenditure in foreign currency nor earned any foreign exchange.

3 DIVERSIFICATION OF BUSINESS

During the year the company has diversified its business and entered in to the business of Fast Moving Consumer Goods (FMCG). It has launched multiple FMCG Products in various brands and has started marketing these products through - out India.

4 The Company has prepared these financial statements as per the format prescribed by Revised Schedule VI to the Companies Act ,1956 issued by Ministry of corporate affairs.Previous period's figure have been recasted/restated to conform to the classification required by the Revised Schedule VI.

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Sep 30, 2011

A. Contingent Liabilities no provided or :

i. The liabilities for future payment of gratuity to employees is roughly estimated and provided ' to the extent of Rs. 1,77,295.34 and not based on actuarial basis. ,

ii. Liabilities if any that may arise due to late payment of Central and Agricultural Income Tax, Fringe Benefit Tax, VAT, Tax deducted at source, P. F. Accumulations etc, has not been provided for the actual quantum and its effect on the profitability of current periods profit has ' not been ascertained by the management.

b. No provision for interest has been made on the advances or loan taken or given pending , reconciliation and confirmation of balances from the parties. Balances of Sundry Debtors and ' creditors, loans and advances and others are subject of the confirmation from the respective parties.

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Sep 30, 2010

A. Contingent Liabilities not provided or:

i. The liabilities for future payment of gratuity to employees is roughly estimated and provided to the extent of Rs 3,02,295.34 and not based on actuarial basis.

ii. Liabilities if any that may arise due to late payment of Central and Agricultural Income Tax, Fringe Benefit Tax, VAT, Tax deducted at source, P. F. Accumulations etc. has not been provided for the actual quantum and its effect on the profitability of current periods profit has not been ascertained by the management.

b. Share Capital

Share Capital for the period of audit was rectified to the extent of Rs. 28,000/- as compared to the previous year due to reversal of clerical error made in the year 1995-96 on account of excess amount received erroneously transferred to the share allotment account, in respect of which no shares were allotted.

c. No provision for interest has been made on the advances or loan taken or given pending reconciliation and confirmation of balances from the parties. Balances of Sundry Debtors and creditors, loans and advances and others are subject of the confirmation from the respective parties.

d. Segment Information:

Since the companys listing is suspended at stock exchanges for more than three years, the company is exempted to provide the segment information as per the Accounting Standard-17 issued by the Institute of Chartered Accountants of India accordingly the information required under segment information has not been provided.

h. Due from Director or Managing Directors Amount due Max Amount Due

NIL NIL

ii. Previous years figures have been re-arranged and/or re-grouped wherever considered necessary

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Jun 30, 2009

A. Contingent Liabilities not provided or:

(i) The liabilities for future payment of gratuity to employees is roughly estimated and provided to the extent of Rs 3,02,295.34 and not based on actuarial basis. (iii) Liabilities if any that may arise due to late payment of Central and Agricultural Income Tax,

Fringe Benefit Tax, VAT, Tax deducted at source, P. F. Accumulations etc. has not been provided for the actual quantum and its effect on the profitability of current periods profit has not been ascertained by the management.

b. No provision for interest has been made on the advances or loan taken or given pending reconciliation and confirmation of balances from the parties. Balances of Sundry Debtors and creditors, loans and advances and others are subject of the confirmation from the respective parties.

c. Segment Information :

Since the companys listing is suspended at stock exchanges for more than two years, the company is exempted to provide the segment information as per the Accounting Standard-17 issued by the Institute of Chartered Accountants of India accordingly the information required under segment information has not been provided.

(i) Previous years figures have been re-arranged and/or re-grouped wherever considered necessary.

(ii) Previous year figures are not comparable with current periods figure since current period covers a period of fifteen Months.