Notes to Accounts of Marsons Ltd.

Mar 31, 2025

k) Provision for liabilities and charges, Contingent liabilities and contingent
assets

The assessments undertaken in recognizing provisions and contingencies have
been made in accordance with the applicable Ind AS.

l) Earnings per share

The Company presents basic and diluted earnings per share ("EPS”) data for its
equity shares. Basic EPS is calculated by dividing the profit and loss attributable
to equity shareholders of the Company by the weighted average number of equity
shares outstanding during the period. Diluted EPS is determined by adjusting the
profit and loss attributable to equity shareholders and the weighted average
number of equity shares outstanding for the effects of all dilutive potential equity
shares.

m) Cash Flow Statement

Cash flows are reported using indirect method as set out in Ind AS -7 "Statement
of Cash Flows”, whereby profit / (loss) before tax is adjusted for the effects of
transactions of non-cash nature and any deferrals or accruals of past or future
cash receipts or payments. The cash flows from operating, investing and
financing activities of the Company are segregated based on the available
information.

b) Terms / Rights attached to Ordinary Equity Shares

The Company has only one class of Equity Shares having par value of Rs. 1/- per share. Each holder of Equity Shares is entitled to one
vote per share. The Company declares and pays dividend in Indian Rupees. The dividend proposed by Board of Directors is subject to
approval of the shareholders in the ensuing Annual General Meeting.

c) 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 Share held by Shareholders.

25 Contingent Liabilities and Contingent Assets

The Company does not have any amount acknowledged as debts against claims / disputes / demand or any as contingent liabilities / contingent assets.

26 The Company does not have any specific credit policy and the terms and conditions with parties depends on negotiated terms.

27 The Company does not have any pending litigation which may affect the financial statement and going concern status of the company.

Management has the view, it is pertinent to that as per the Binding Resolution Plan approved by the Honourable NCLT Kolkata, all the pending demands before the respective
tax authorities will become Nil by the virtue of para 1 to 4 of page 44 of the Binding Resolution Plan dated 09.05.2019

28 On the basis of physical verification of assets and cash generation capacity of those assets, in the management perception, there is no impairment of assets as on 31st March
2025.

29 The Company is mainly engaged in the business of manufacturing of Transformers, Dealing in other Allied Electrical Products and Warehouse Rental Income. During the year,
risks and returns of the enterprise will therefore continue to be associated with business of manufacturing of Transformers. Necessary segment information with respect to
business of Transformers are as follows:

The business segment has been considered as primary segment for reporting segment information.

32 Balance Confirmation

Outstanding balances of Trade Receivables, Trade payables, Loans and Advancces are subject to confirmation from the respective parties and consequential adjustments
arising from reconciliation, if any. The management, however, is of the vew that there will be no material discepancies in this regard.

33 Employee Benefits

a) Defined Benefit Plans

The Company has defined contribution plans in the form of Provident Fund, EDLI, ESIC and Labour Welfare Fund and the contributions are charged to the Profit & Loss
Account for the year as and when the contributions to respective funds are due. There are no other obligations other than contribution payable to these respective funds.

b) In respect of liability towards gratuity and any other retirement benefits, are accounted for as and when the liability for payment arises.

b) The management assessed that the fair values of cash and cash equivalents, trade receivables, trade payables, short term borrowings, and other financial liabilities approximates their
carrying amounts largely due to the short-term maturities of these instruments.

c) For Financial assets and liabilities that are measured at fair value, the carrying amounts are equal to their fair values.

d) The fair value of the financial assets and financial liabilities is included at the amount at which the instruments could be exchanged in a current transaction between willing parties, other
than in a forced or liquidation sale.

e) The following methods and assumptions were used to estimate the fair values:

The fair values for loans, security deposits were calculated based on cash flows discounted using a current lending rate. They are classified as Level 3 fair values in the fair value hierarchy
due to the inclusion of unobservable inputs including counterparty credit risks, which has been assessed to be insignificant.

37 Fair Value Hierarchy

The following are the judgements and estimates made in determining the fair values of the financial instruments that are (a) recognized and measured at fair value and (b) measured at
amortized cost and for which fair value are disclosed in the financial statements. To provide an indication about the reliability of the inputs used in determining fair value, the company has
classified its financial instruments into the three levels of fair value measurement as prescribed under the Ind AS 113 "Fair Value Measurement". An explanation of each level follows
underneath the tables.

c) Duringthe year ended March 31, 2025 and March 31, 2024, there were no transfers between Level land Level 2 fairvalue measurements, and no transfer into and out of Level 3 fair value
measurements.

d) Explanation to the fair value hierarchy

The Company measures financial instruments, such as, quoted investments at fair value at each reporting date. Fair value is the price that would be received to sell an asset or paid to
transfer a liability in an orderly transaction between market participants at the measurement date. All assets and liabilities for which fair value is measured or disclosed in the financial
statements are categorised within the fair value hierarchy as described in Note No. 3.

38 Financial Risk Management

The Company''s activity exposes it to various risk such as market risk, liquidity risk and credit risks. This section explains the risks which the Company is exposed to and how it manages the
risks.

A) Market Risk

Market risk is the risk that changes in market prices, such as foreign exchange risk rates, interest rates and equity prices which will affect the Company''s income or the value of its
holdings of financial instruments. The objective of market risk management is to manage and control market risk exposures within acceptable parameters, while optimising the
retum. The Company''s main business activity financial consulting has no or limited entry barrier. Entry of Banks and large consulting firms has increased competition.

i) 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 is exposed to
interest rate risk on financial liabilities such as long-term borrowings.

The Company is also exposed to interest rate risk on its financial assets that include fixed deposits.

ii) Price Risk

The Company''s exposure to equity securities price risk arises from investments held by the Company and classified in the Balance Sheet as fair value through Profit or Loss. The
majority of the Company''s equity investments are publicly traded.

B) Liquidity Risk

The Company determines its liquidity requirements in the short, medium and long term. This is done by drawing up cash forecast for short and medium term requirements The
Company manages its liquidity risk in a manner so as to meet its normal financial obligations without any significant delay or stress. Such risk is managed through ensuring
operational cash flow while at the same time maintaining adequate cash and cash equivalents position. This is generally carried out in accordance with practice and limits set by the
Company

i) Maturity Analysis

The Company''s financial liabilities into relevant maturity groupings based on their contractual maturities for all non-derivative financial liabilities and net settled derivative financial
instruments. The amounts disclosed in the table are the contractual undiscounted cash flows. Balances due within 12 months equal their carrying balances as the impact of
discounting is not significant.

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Mar 31, 2024

(e) Terms/ rights attached to equity shares

The Company has only one class of equity shares having a par value of Rs. 1/-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 amount. The distribution will be in proportion to the number of equity shares held by the share holders.

Details of security furnished

i. Loan facility from ICICI Bank Ltd has been secured by way of Mortgage of Immovable Fixed Assets situated at Chakmir,

Ward No.14,New Under MahesthTala Municipality,District South 24 Parganas,Kolkata-7000142 by Exclusive Charges and Personal guarantee of Mr.Subhash Kumar Agarwal, Director of the company

a) In common with many business of similar size and organization, the Company''s system of control depends upon the close involvement of directors where independent confirmation of completeness of accounting records was, thereof, not available, we have accepted assurance from directors that all transactions have been reflected in the records of the Company.

b) The basic earnings per share is computed by dividing the net profit attributable to Equity Shareholders for the year by the weighted average number of equity shares outstanding during the reporting year.

c) The Company has not received any instruction from suppliers regarding their status under the Micro, Small & Medium Enterprises Development Act,2006 and hence, disclosures if any, relating to amounts unpaid as at the year end together with interest payable as required under the said Act have not been given.

h) The company does not have any credit policy, invoice are due for payment on presentation. Hence, date of invoice is considered as due date for payment.

i) Previous Year figures are regroup/rearrange whenever necessary.

j) There are no pending litigation which may affect on the financial statement ,and going concern status of the company.

Management has the view that as per the Binding Resolution Plan approved by the Honorable NCLT Kolkata, all the pending demands before the respective tax authorities will become Nil by the virtue of para 1 to 4 of page 44 of the Binding Resolution Plan dated 09.05.2019

k) According to information and explanation given to us and on the basis of our examination of the records of the company, the company has not surrendered or disclosed any transaction, previously unrecorded as income in the books of account, in the Tax Assessments under the Income tax Act.1961 as income during the year.

l) The Net worth of Company has been increased by Rs.1120.36 lakhs therefore the Net worth as on 31,03.2024 is Rs.1422.09 Lakhs.

(i) The Company has not granted Loans or Advances in the nature of loans to promoters, directors, KMPs and the related parties (as defined under Companies Act, 2013), either severally or jointly with any other person. So disclosure regarding the same is not required.

(ii) Capital Work in Progress -There is no Capital Work in progress as on 31 March 2024 and 31 March 2023.

(iii) Intangible assets under development - There is no such intangible assets under development as on 31st march 2024 and 31st March 2023.

(iv) No Such Proceeding have been initiated or pending against the company for holding any benami property under the Benami Transactions (Prohibition) Act, 1988 (45 of 1988) and rules made thereunder, So, the discloser regarding this not Applicable.

(v) No such borrowings from banks or financial institutions has been taken by the company on the basis of security of current assets.

(vi) The company is not declared willful defaulter by any bank or financial Institution or other lender in accordance with the guidelines issued by the Reserve Bank of India.

(vii) The company has no such transactions with company struck off under section 248 of the Companies Act, 2013 or section 560 of Companies Act, 1956.

(viii) The Company does not have any charges or satisfaction of charge which is yet to be registered with Registrar of Companies beyond the statutory period.

(ix) The company has complied with the requirement number of layers prescribed under clause (87) of section 2 of the Act read with the Companies (Restriction on number of Layers) Rules, 2017.

(x) The Company has no such scheme of Arrangements has been approved by the Competent Authority in terms of sections 230 to 237 of the Companies Act, 2013,

(xi) (A) No Fund (which are material either individually or in the aggregate) have been advanced or loaned or invested (either from borrowed funds or share premium or any other sources or kind of funds) by the Company to or any other person or entity, including foreign entities (Intermediaries) with the understanding whether recorded in writing or otherwise that the Intermediary shall 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 provide any guarantee, security or the like to on behalf of the Ultimate Beneficiaries.

(B) No Fund (which are material either individually or in the aggregate) have been received by the Company from any person or entity, including foreign entity ("Funding Party"), with the understanding whether recorded in writing or otherwise that the Company shall, whether directly or indirectly lend or invest in other persons or entities identified in any manner whatsoever by or on behalf of Funding Party ("Ultimate Beneficiaries") or provide any guarantee, security or the like to on behalf of the Ultimate Beneficiaries.

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Mar 31, 2021

In common with many business of similar size and organization, the Company''s system of control depends upon the close involvement of directors where independent confirmation of completeness of accounting records was, thereof, not available, we have accepted assurance from directors that all transactions have been reflected in the records of the Company.

The basic earnings per share is computed by dividing the net profit attributable to equity shareholders for the year by the weighted average number of equity shares outstanding during the reporting year.

Particulars	Current Year (in lakhs)	Previous Year (in lakhs)
Profit /(Loss) after Tax	(222.70)	(298.56)
No. of shares(Weighted Avg. no. of Share)	1250	1250
Earnings per share	(0.18)	(0.24)

iii) According to the information available, the Company does not owe any sum to a small scale industry as defined in clause (i) of section 3 of the Industries (Development and Regulation) Act, 1951.

iv) The Company has not received any instruction from suppliers regarding their status under

the Micro, Small & Medium Enterprises Development Act,2006 and hence, disclosures if any, relating to amounts unpaid as at the yearend together with interest payable as required under the said Act have not been given.

v) The amount of interest paid by the company during the year ended 31st March, 2021 to Micro, Small Scale Industries & Medium enterprises is Nil.

The company does not have any credit policy, invoice are due for payment on presentation. Hence, date of invoice is considered as due date for payment.

Previous Year figures are regroup/rearrange whenever necessary.

Management has the view that as per the Binding Resolution Plan approved by the Honorable NCLT Kolkata all the pending demands before the respective tax authorities will be Nil by the virtue of para 1 to 4 of page 44 of the Binding Resolution Plan dated 09.05.2019

One of the creditor filed application with Honorable NCLT Kolkata based on which Tribunal has passed an Resolution Plan on 09.05.2019. As per the resolution plan Liability with Bank loan is settled at Rs.34.00 Crore out of which payment of Rs.12.001 crore has been made till 31^st March, 2021 and employee due at Rs. 0.95 crore out of which payment of Rs 0.93 crore has been made till 31^st March, 2021. For the said purpose Yashoda Inn Private Limited and Uneecops Solar Private Limited have agreed to finance the said plan. There has been a change in the Management and Key Managerial Person during the reporting period.

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Jun 30, 2015

1. Based on the information available with the company, the principal amount due to Micro, Small & Medium Enterprises, as defined under the Micro, Small, and Medium Enterprises Development Act, 2006 (MSMED Act, 2006) is Rs, Nil (Previous year Rs, Nil). Further, no interest during the year has been paid or payable under the terms of the MSMED Act, 2006.

2. Total stores and spare parts consumed during the year are Rs, 49.07 Lacs (Previous year Rs, 13.55 Lacs).

3. ACCOUNTING OF INVESTMENTS AS-13

In accordance with Accounting Standard (AS-13) of the Institute of Chartered Accountants of India, the long term investments held by the Company are to be carried at cost. Diminution in the value of some investments if any has not been made as amount is not ascertainable in view of market value is not available. The Company however does not anticipate any decline being permanent in nature. Few shares have been sold and relevant Long Term Capital Gain have been booked accordingly.

4. As per Accounting Standard 15 'Employee Benefits' the disclosures as defined in the Accounting Standard are given below : Defined Contribution Plans

The Company has not recognized an expense of towards defined contribution plans (Previous year NIL).

Defined Benefit Plans

In respect of gratuity liability, under defined benefit plan, the company has set up a Group Gratuity Scheme by entering into a scheme of insurance with Life Insurance Corporation of India, for providing Gratuity benefits to its employee and a sum of Rs,. 2.50 Lakhs (Previous Year NIL) has been contributed during the year to Marsons Electrical Ltd., Group Gratuity Scheme with Life Insurance Corporation of India.

5. CONTINGENT LIABILITIES AND CONTINGENT ASSETS

Aggregate amount of guarantees furnished by the banks on behalf of the company to various State Electricity Board are Rs,. 1,917.62 lacs (Previous year Rs,. 2,481.00 lacs) which are secured by deposits of Fixed Deposit Receipts amounting to Rs,. 115.08 lacs (previous year Rs,. 303.61 lacs) with banks.

6. RELATED PARTY DISCLOSURES AS REQUIRED BY AS-18

"Related party disclosures" are given below: 1) Relationships:

a) Key Management Personnel and their relatives : Mr. G.C. Kotia

Mr. Akhilesh Kotia

Mrs. Charu Kotia

Mr. Harshvardhan Kotia

b) Enterprises over which the Key Management personnel and/or their relatives have significance influence :

1) Advance Powerinfra Tech Ltd.

2) Marsons Textiles Ltd.

3) M-Secure HR Services Pvt. Ltd.

4) M-Trust Capital Advisory Pvt. Ltd.

5) Marsons Infomedia Pvt. Ltd.

6) Marsons Research Institute

7. RESEARCH AND DEVELOPMENT EXPENSES

In pursuit of Research and Development endeavors the company is continuously incurring R & D expenditure both on Capital and Revenue which is shown as part of regular heads of accounts in fixed assets and in Profit and Loss account respectively. Revenue expenditure on research & development activities accounted for under their natural heads of revenue expenses accounts is Rs,. 156.91 lacs. (previous Year Rs,. 236.20 Lacs) Capital expenditure on research & development activities accounted for under their natural heads of Fixed assets accounts is Rs,. 328.00 Lacs (Previous year Rs,. 6.42 Lacs)

8. The figures for the current financial year are for nine months period.

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Mar 31, 2014

1 ACCOUNTING OF INVESTMENTS AS-13

In accordance with Accounting Standard (AS-13) of the Institute of Chartered Accountants of India, the long term investments held by the Company are to be carried at cost. Diminution in the value of some investments if any has not been made as amount is not ascertainable in view of market value is not available. The Company however does not anticipate any decline being permanent in nature.

2 As per Accounting Standard 15 ''Employee Benefits'' the disclosures as defined in the Accounting Standard are given below : Defined Contribution Plans The Company has not recognised an expense of towards defined contribution plans (Previous year NIL).

Defined Benefit Plans

In respect of gratuity liability, under defined benefit plan, the company has set up a Group Gratuity Scheme by entering into a scheme of insurance with Life Insurance Corporation of India, for providing Gratuity benefits to its employee and a sum of R. Nil (Previous Year NIL) has been contributed during the year to Marsons Electrical Ltd., Group Gratuity Scheme with Life Insurance Corporation of India. The company is yet to make funding to LIC to the extent of R.35.03 lacs.

3 CONTINGENT LIABILITIES AND CONTINGENT ASSETS

Aggregate amount of guarantees furnished by the banks on behalf of the company to various State Electricity Board are R. 2,481.00 lacs (Previous year R. 2,608.33 lacs) which are secured by deposits of Fixed Deposit Receipts amounting to R.303.61 lacs (previous year R. 336.57 lacs) with banks.

4 COMMISSION TO DIRECTOR

Directors'' Remuneration includes payment to Managing Director with commission Current Year NIL (Previous year Nil including commission).

5 RELATED PARTY DISCLOSURES AS REQUIRED BY AS-18

"Related party disclosures" are given below: 1) Relationships:

a) Key Management Personnel and their relatives : Mr. G.C. Kotia

Mr. Akhilesh Kotia

Mrs. Charu Kotia

Mr. Harshvardhan Kotia

b) Enterprises over which the Key Management personnel and/or their relatives have significance influence :

1) Advance Powerinfra Tech Ltd. (Formerly Marson''s Power & Infrastructure Dev. Ltd)

2) Marsons Properties Pvt. Ltd. (formerly Marsons Board Pvt. Ltd.)

3) Marsons Logistics Pvt. Ltd.

4) M-Secure HR Services Pvt. Ltd. (formerly Marsons Metals Pvt. Ltd.)

5) Marsons Petro Products Ltd.

6) M-Trust Capital Advisory Pvt. Ltd. (Formerly Marsons Powergen Pvt. Ltd.)

6 RESEARCH AND DEVELOPMENT EXPENSES

In pursuit of Research and Development endeavors the company is continuously incurring R & D expenditure both on Capital and Revenue which is shown as part of regular heads of accounts in fixed assets and in Profit and Loss account respectively. Revenue expenditure on research & development activities accounted for under their natural heads of revenue expenses accounts is R.236.20 lacs. (previous Year R 212.30 Lacs) Capital expenditure on research & development activities accounted for under their natural heads of Fixed assets accounts is R 6.42 Lacs (Previous year R 23.33 Lacs)

7 Break up of balance in Trade Receivables of over 6 months and others have been taken as worked out by the concurrent auditors as appointed by the bankers of the company.

8 The figures for the current financial year are for nine months period.

9 In view of the revision to the Schedule VI as per notification issued by the Central Government, the financial statements for the year ended 31st March, 2014 have been prepared as per the requirements of the revised Schedule VI to the Companies Act, 1956.

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Jun 30, 2013

1 Based on the information available with the company, the principal amount due to Micro, Small & Medium Enterprises, as defined under the Micro, Small, and Medium Enterprises Development Act, 2006 (MSMED Act, 2006) is R Nil (Previous year R Nil). Further, no interest during the year has been paid or payable under the terms of the MSMED Act, 2006.

2 Total stores and spare parts consumed during the year are R 24.61 Lacs (Previous year R 33.30 Lacs).

3 ACCOUNTING OF INVESTMENTS AS-13

In accordance with Accounting Standard (AS-13) of the Institute of Chartered Accountants of India, the long term investments held by the Company are to be carried at cost. Diminution in the value of some investments if any has not been made as amount is not ascertainable in view of market value is not available. The Company however does not anticipate any decline being permanent in nature.

4 As per Accounting Standard 15 ''Employee Benefits'' the disclosures as defined in the Accounting Standard are given below : Defined Contribution Plans

The Company has not recognised an expense of towards defined contribution plans (Previous year R 8.80 Lacs). Defined Benefit Plans

In respect of gratuity liability, under defined benefit plan, the company has set up a Group Gratuity Scheme by entering into a scheme of insurance with Life Insurance Corporation of India, for providing Gratuity benefits to its employee and a sum of R. Nil (Previous Year R. 7.50 lacs) has been contributed during the year to Marsons Electrical Ltd., Group Gratuity Scheme with Life Insurance Corporation of India. The company is yet to make funding to LIC to the extent of R.35.03 lacs.

5 CONTINGENT LIABILITIES AND CONTINGENT ASSETS

Aggregate amount of guarantees furnished by the banks on behalf of the company to various State Electricity Board are R. 2,608.33 lacs (Previous year R. 1,980.81 lacs) which are secured by deposits of Fixed Deposit Receipts amounting to R.336.57 lacs (previous year R. 290.71 lacs) with banks.

6 COMMISSION TO DIRECTOR

Directors'' Remuneration includes payment to Managing Director with commission R. 6.60 (Previous year R. 20.00 lacs).

7 RELATED PARTY DISCLOSURES AS REQUIRED BY AS-18

"Related party disclosures” are given below: 1) Relationships:

a) Key Management Personnel and their relatives : Mr. G.C. Kotia

Mr. Akhilesh Kotia Mrs. Charu Kotia

b) Enterprises over which the Key Management personnel and/or their relatives have significance influence :

1) Advance Powerinfra Tech Ltd. (Formerly Marson''s Power & Infrastructure Dev. Ltd)

2) Marsons Properties Pvt. Ltd. (formerly Marsons Board Pvt. Ltd.)

3) Marsons Logistics Pvt. Ltd.

4) M-Secure HR Services Pvt. Ltd. (formerly Marsons Metals Pvt. Ltd.)

5) Marsons Petro Products Pvt. Ltd.

6) M-Trust Capital Advisory Services Pvt. Ltd. (Formerly Marsons Powergen Pvt. Ltd.)

8 RESEARCH AND DEVELOPMENT EXPENSES

In pursuit of Research and Development endeavors the company is continuously incurring R & D expenditure both on Capital and Revenue which is shown as part of regular heads of accounts in fixed assets and in Profit and Loss account respectively. Revenue expenditure on research & development activities accounted for under their natural heads of revenue expenses accounts is R.212.30 lacs. (previous Year R 113.50 Lacs) Capital expenditure on research & development activities accounted for under their natural heads of Fixed assets accounts is R 23.33 Lacs (Previous year R 53.31 lacs)

9 Break up of balance in Trade Receivables of over 6 months and others have been taken as worked out by the concurrent auditors as appointed by the bankers of the company.

10 The figures for the current financial year are for twelve months period.

11 In view of the revision to the Schedule VI as per notification issued by the Central Government, the financial statements for the year ended 30th June, 2013 have been prepared as per the requirements of the revised Schedule VI to the Companies Act, 1956.

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Mar 31, 2011

1. Aggregate amount of guarantees furnished by the banks on behalf of the company to various State Electricity Board are 25,46,00,041 (Previous year 15,54,30,517) which are secured by deposits of Fixed Deposit Receipts amounting to 1,77,05,000 (previous year 2,02,95,845) with banks.

2. The company has during the year recognized an expense of 3,79,545 (Previous year 8,79,545) towards defined contribution plans.

3. In respect of gratuity liability, under defined benefit plan, the company has set up a Group Gratuity Scheme by entering into a scheme of insurance with Life Insurance Corporation of India, for providing Gratuity benefits to its employee and a sum of 2,50,000(Previous Year 7,50,000) has been contributed during the year to Marsons Electrical Ltd., Group Gratuity Scheme with Life Insurance Corporation of India. The company is yet to make funding to LIC to the extent of 32,14,125.

4. Loans & Advances and Sundry Creditors include dues from Companies under the same management 51,51,189 (Previous year 1,66,66,738).

5. Research and Development

In pursuit of Research and Development endeavors the company is continuously incurring R & D expenditure both on Capital and Revenue which is shown as part of regular heads of accounts in fixed assets and in Profit and Loss account respectively. The Company has started recognizing expenses incurred on R & D both on Capital and Revenue which are as below:

a) Revenue expenditure on research & development activities accounted for under their natural heads of revenue expenses accounts is 5,86,86,370.

b) Capital expenditure on research & development activities accounted for under their natural heads of fixed assets accounts is 7,83,17,267.

6. Based on information made available with the Company, there are no dues to micro and small enterprises as defined in Micro, Small and Medium Enterprises Development Act, 2006. Further no interest during the year has been paid or payable under the terms of this Act.

7. All the debtors, creditors & other receivables from/to the parties are subject to confirmation.

8. Out of sanctioned capital subsidy by Govt. of West Bengal on capital investment of 15 lacs, the company has received and accounted for of a sum of 12.50 lacs, and pending amount will be accounted on receipt.

9. Directors’ Remuneration includes payment to Managing Director with commission 40,00,000(Previous year 19,95,000). Contribution to Provident Fund & Other includes 33,680 paid for Directors.

10. In accordance with Accounting Standard (AS13) of the Institute of Chartered Accountants of India, the long term investments held by the Company are to be carried at cost. Diminution in the value of some investments if any has not been made as amount is not ascertainable in view of market value is not available. The Company however does not anticipate any decline being permanent in nature.

11. Current Account with the Directors having credit balances of 19,99,667/- as on 31st March, 2011.

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

13. Additional information pursuant to the provisions of Part II of the Schedule VI of the Companies Act, 1956.

a) Licensed Capacity Not applicable

b) Installed Capacity (Transformers) 5000MVA (5000000KVA)

c) Goods Manufactured Transformers (Power & distribution)

d) Production, Stocks and Sales



14. Related Party Disclosures as required by AS-18"

"Related party disclosures" are given below

1) Relationships a) Key Management Personnel and their relatives Mr. G.C. Kotia Mr. Akhilesh Kotia Mrs. Charu Kotia

b) Enterprises over which the Key Management personnel and/or their relatives have significance influence

1) Advance Power Infra Technologies Ltd. (Formerly Marson's Power & Infrastructure Dev. Ltd)

2) Advance Power Technologies Ltd. (Formerly A.P. Electrical Pvt. Ltd.)

3) Marsons Board Pvt. Ltd.

4) Marsons Logistics Pvt. Ltd.

5) Marsons Metals Pvt. Ltd.

6) Marsons Petro Products Pvt. Ltd.

7) Marsons Powergen Pvt. Ltd.

15. As the Company's business activities primarily falls within single segment viz. Transformers, the disclosure requirement of Accounting Standard "17 segment Reporting" issued by Institute of Chartered Accountants of India is not applicable.

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Mar 31, 2010

1. Aggregate amount of guarantees furnished by the banks on behalf of the company to various State Electricity Board are Rs. 15,54,30,517 (Previous year Rs. 6,49,82,558) which are secured by deposits of Fixed Deposit Receipts amounting to Rs. 2,02,95,845 (previous year Rs. 1,48,10,960) with banks.

2. The company has during the year recognized an expense of Rs.8,79,545 (Previous year Rs. 1343795) towards defined contribution plans.

3. In respect of gratuity liability, under defined benefit plan, the company has set up a Group Gratuity Scheme by entering into a scheme of insurance with Life Insurance Corporation of India, for providing Gratuity benefits to its employee and a sum of Rs. 7,50,000 (Previous Year 7,50,000) has been contributed during the year to Marsons Electricals Ltd., Group Gratuity Scheme with Life Insurance Corporation of India. The company is yet to make funding to LIC to the extent of Rs.3054734.

4. Loans & Advances and Sundry Creditors / Sundry Debtors include Due to a Company under the same management NIL (Previous year Rs.2367605.14) & Due from a Company under the same management Rs.16666738.19 (Previous year Rs. 12261825.90).

5. Research and Development

In pursuit of R & D endeavors the company is continuously incurring R&D expenditure both on Capital and Revenue which is shown as part of regular heads of accounts in fixed assets and in Profit and Loss Account respectively.

6. Based on information made available with the Company, there are no dues to micro and small enterprises as defined in Micro, Small and Medium Enterprises Development Act, 2006. Further no interest during the year has been paid or payable under the terms of this Act.

7. All the debtors, creditors & other receivables from/to the parties are subject to confirmation.

8. Out of sanctioned capital subsidy by Govt, of West Bengal on capital investment of Rs.15 lacs, the company has received and accounted for of a sum of Rs. 12.50 lacs, and pending amount will be accounted on receipt.

9. Directors Remuneration includes payment to Managing Director with commission Rs. 19,95,000 - (Previous year Rs.1915000). Contribution to Provident Fund & Other includes Rs.18,720 paid for Directors.

10. In accordance with Accounting Standard (AS13) of the Institute of Chartered Accountants of India, the long term investments held by the Company are to be carried at cost. Diminution in the value of some investments if any has not been made as amount is not ascertainable in view of market value is not available. The Company however does not anticipate any decline being permanent in nature.

11. Current Account with the Directors having credit balances of Rs.22,88,752 as on 31st March, 2010.

12. Previous years figures have been re-arranged and/or re-grouped, wherever necessary.

13. i) Including Excise Duty scrap sale of Rs. 693672,50 (Previous year Rs. 295895)

14. Related Party Disclosures

"Related party disclosures as required by AS-18" "Related party disclosures" are given below: 1. Relationships:

a) Key Management Personnel and their relatives : Mr. G.C. Kotia

Mr. Akhilesh Kotia Mrs. Charu Kotia Mr. Nikhilesh Kotia

b) Enterprises over which the Key Management personnel and/or their relatives have significance influence : Advance Power Infra Technologies Ltd. (Formerly Marsons Power & Infrastructure Dev. Ltd) Advance Power Technologies Ltd. (Formerly A.P. Electrical Pvt. Ltd.)

15. As the Companys business activities primarily falls within single segment viz. Transformers, the disclosure requirement of Accounting Standard "17 segment Reporting" issued by Institute of Chartered Accountants of India is not applicable.