Notes to Accounts of Nutech Global Ltd.

Mar 31, 2024

(K) Provisions

Provisions are recog nlzed when the Company has a present obligation (legal or constructive) as a result of a past event, Itlsprobablettiat
an outflow of resources embodying economic benefits will be required to settle the obligation and a reliable estimate can be made of the
a mount of the obi igation.

If the effect of the time value of money is material, provisions are discounted using a current pre-tax rata that reflects, when appropriate,
the risks specific to the liability. When discounting Is used, the Increase In the provision due to the passage of time Is recognized as a
finance cost.

(L) Cash and cash equivalent

Cash and cash equivalent In the balance sheet comprise cash at banks and on hand. For the purpose of the statement of cash flows, cash
and cash equivalents consist of cash as defined above, net of outstanding bank overdrafts as they are considered an integral part of the
Company''s cash management.

(M) Tax Expenses

The tax expense for the period comprises current and deferred tax. Tax is recognised in Statement of Profit and Loss, except to the extent
that It relates to Items recognised In the comprehensive Income or In equity. Tax expense relating to Hems recognised outside Statement
of profit and loss is recognised outside Statement of profit and loss. Tax are recognised in correlation to the underlying transaction either
in other comprehensive income or directly in equity.

Current tax

Current tax assets and liabilities are measured at the amount expected to be recovered from or paid to the taxation authorities, based on
tax rates and laws that are enacted or substantively enacted at the Balance sheet date. Company has decided to pay tax U/S115BAA
announced in the Taxation (Amendment) Ordinance 2019 by finance minister.

Deferred tax

Deferred tax is provided using the liability method on temporary differences between the tax bases of assets and liabilities and their
carrying amounts forfinancial reporting purposes at the reporting date.

Deferred tax assets are recognized for all deductible temporary differences, the cany forward of unused tax credits and any unused tax
losses. Deferred tax assets are recognised to the extent that it is probable that taxable profit will be available against which the deductible
temporary differences, and the cany forward of unused tax credits and unused tax losses can be utilised.

The Company recognizes tax credits In the nature of MAT credit as an asset only to the extent that there Is convincing evidence that the
Company will pay normal income tax during the specified period, i.e., the period forwhich tax credit is allowed to be carried forward. In the
year in which the Company recognizes tax credits as an asset, the said asset is created byway of tax credit to the Statement of profit and
loss. The Company reviews such tax credit asset at each reporting date and writes down the asset to the extent the Company does not
have convincing evidence that it will pay normal tax during the specified period.

Deferred tax Includes MAT tax credit

(N) Foreign currency

These financial statements are presented In Indian rupees, which Is the fonctlonal currency of Limited. Transactions In foreign currencies
are recorded at the exchange rate prevailing on the date of transaction quoted by bank.

Exchange differences are recognized in the Statement of Profit and Loss exceptto the extent, exchange differences which are regarded
as an adjustment to Interest costs on foreign currency borrowings, are capitalized as part of borrowing costs.

(O) Earnings per Share

Basic earnings per share is calculated by dividing the net profit or loss for the period attributable to equity Shareholders of the Company
by the weighted average number of equity shares outstanding during the period.

For the purpose of calculating diluted earnings per share, the net profit or loss for the period attributable to equity Shareholders of the
Company and the weighted average number of shares outstanding during the period, are adjusted for the effects of all dilutive potential
equity shares.

(P) Financial Instruments

(I) Financial Assets

(1) Initial recognition and measurement

All financial assets and liabilities are Initially recognized at fair value. Transaction costs that are directly attributable to the acquisition or
issue of financial assets and financial liabilities, which are not at fair value through profit or loss, are adjusted to the fair value on initial
recognition. Purchase and sale of financial assets are recognised using trade date accounting.

(II) Subsequent measurement

A. Financial assets carried at amortized cost (AC)

A financial asset is measured at amortised cost if it is held within a business model whose objective is to hold the asset in order to collect
contractual cash flows and the contractual terms of the financial asset give rise on specified dates to cash flows that are solely payments
of principal and interest on the principal amount outstanding.

(2) Financial liabilities

A. Initial recognition and measurement

All financial liabilities are recognized at fair value and in case of loans, net of directly attributable cost. Fees of recurring nature are directly
recognised In the Statement of Profit and Loss as finance cost.

B. Subsequent measurement

Financial liabilities are carried at amortized cost using the effective interest method. For trade and other payables maturing within one
year from the balanoe sheet date, the carrying amounts approximate fair value due to the short maturity of these Instruments.

(3) Derecognition of financial instruments

The Company derecognizes a financial asset when the contractual rights to the cash flows from the financial asset expire or H transfers
the financial asset and the transfer qualifies for derecognition under IND AS 109. A financial liability (or a part of a financial liability) Is
derecognized from the Company''s Balanoe Sheet when the obligation specified in the contract is discharged or cancelled or expires.

(Q) Employee* Benefit:

a) Short Term Employee Benefits

All employee benefits payable within twelve months of rendering the service are classified as short term benefits. Such benefits Include
salaries, wages, bonus, shortterm compensated absences, awards, exgratia, performance pay etc. and the same are recognised in the
period In which the employee renders the related service.

b) Post-Employment Benefits

(I) Defined contribution plan

The Company''s approved provident fond scheme and employees'' state insurance fond scheme are defined contribution plans. The
Company has no obligation, other than the contribution paid/payable under such schemes. The contribution paid/payable under the
schemes Is recognised during the period In which the employee renders the related service.

(II) Defined benefit plan

Gratuity and Leave Encashment are recognized as an expense at the un-discounted amount in the profit and loss account of the year in
which related service Is rendered. The company has not made any actuarial valuation In this regards.

R) Leases

As lessee

Initial measurement
Longterm lease

The company does not have any long term lease contract liabilities
Shortterm lease

Shortterm lease Is that, at the commencement date, has a lease term of 12 months or less. Alease that contains a purchase option Is not
a short-term lease. Low value lease is for which the underlying asset is of low value. If the company elected to apply shortterm lease/Low
Value Lease, the lessee shall recognize the lease payments associated with those leases as an expense on either a straight-line basis
over the lease term or another systematic basis. The lessee shall apply another systematic basis if that basis is more representative of
the pattern of the lessee''s benefit.

(S)Exceptlonal Items

An Item of Income or expense which by Its size, type or Incidence requires disclosure In order to Improve an understanding of the
performance of the company is treated as an exceptional item and the same is disclosed in the notes to accounts.

Other Financial assets and liabilities includes the financial assets and liabilities whose carrying value shown as amortized value:-
Securtty deposits with Govt. Department as the term of agreement Is not specified hence the carrying value Is considered as amortized
value.

Loans from Banks: As the interest is being charged itself on current market rates and the EIR is approx, similar to its interest rates
charged. Hence Carrying value is considered as its amortized cost

FAIR VALUE HIERARCHY-

No Financial Assets/Llablllttes falls under level 1, level 2 or Level 3 category, hence, no such asset/llablltty has been valued at either
through FVTOCL/FVTPL.

38. CONTINGENT LIABILITIES

In opinion of the management, there may be some lawsuits, claims, demand or proceedings against company, which arise in normal
course of business. However, there is no such matter pending that the company expects to be material in relation to its business and
which requires specific disclosures. The management Is confident of getting the verdict In Its favor and therefore, no, liability on this
account is anticipated and hence no specific disclosure is being made for the contingent liability.

Note 42-SEGMENT REPORTING

The company''s prlnd pal business activity Is sel ling the product of Cotton & Synthetlcfabrlcs.TheCompanyhas two segments viz Textile
and Solar Power. As the Quantitative threshold limit of Solar Power Segment do not meet the limit as specified In IND AS 108, hence the
separate report information about each operating segment Is not necessary for the company.

NOTE 43 - Disclosures as per amendments In Schedule III of Companies Act 2013 with notification Issued on 24th March 2021

Information required against additional disclosures as per amendments In Schedule III of Companies Act, 2013 with resped to below
mentioned clauses is ‘NIL"

a. Title deeds of Immovable Property not held in name of the Company (Para a(iiKXIIIXY)(i))

b. Revaluation of Property, Plant & Equipment (Para a(ll)(XIII){Y)(ll))

c. Loan & Advance made to promoters, directors, KMPs and other related parties (Para a(ii)(XIII)(YXiii))

d. Intangible Assets underdevelopment (Para a(ll)(XIII){Y)(v))

e. Details of Benami property held (Pare a(iiXXIII)(Y)(vi))

f. Willful Defaulter (Pare a(ii)(XIII)(Y)(viii))

g. Relationship with struck of Companies (Pare a(iiHXIIIXY)(ix))

h. Compliance with number of layers of companies (Para a(ii)(XIII)(Y)(xi))

i. Compliance with approved Scheme(s) of Arrangements (Para a(ii)(XIII)(Y)(xiii))

j. Utilization of Borrowed funds and share premium (Para a(ii)(XIII)(Y)(xiv))

k. Undlsdosed Income (Pare a(lll)(bc))

l. Details of Crypto Currency or Virtual Currency (Pare a(iii)(xi))

NOTE 44-The Code on Social Security, 2020

The Code on Social Security, 2020 fcode'') relating to employee benefits, during employment and post-employment, received
Presidential assent on September 28,2020. The Ministry of Labour and Employment has released draft rules for the Code on Social
Security, 2020 on November 13, 2020, and has invited suggestions from stakeholders. The Company will assess the impact on its
financial statements In the period In which the related rules to determine the financial Impact are notified and the Code becomes effective.
NOTE 45 - Transactions wlth/as intermedia rles

No funds 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 In any other persons(s) or entity (les), Including foreign entitles (*lntermedlaries*) with the understanding, whether
recorded in writing or otherwise, that the Intermediary shall lend or invest in party identified by or on behalf of the Company (Ultimate
Beneficiaries). The Company has not received any fund from any party(s) (Funding Party) with the understanding that the Company shall
whether, directly or indirectly lend orinvest in other persons or entitles identified by or on behalf of the Company CUItimate Beneficiaries’)
or provide any guarantee, secu rity orthe li ke on behalf of the Ultimate Beneficiaries.

NOTE 47-In the opinion of the management and to the best of their knowledge and belief, the value of loans, advances and other current
assets whether debit or credit in the ordinary course of business will not be less than the amount at which they are stated in the Balance-
Sheet and provision for all known liabilities has been made.

For RHDA&ASSOCIATES NUTECH GLOBAL LIMITED

Chartered Accountants
Firm Reg. No. 014438C

Sd/-

DINESHAGAL SdI-

Partner (RAJEEV MUKHIJA)

M.No. 417439 Managing Director

UDIN 24417439BKEKWK4492 DIN:00507367

Place¹ BHILWARA Sdf-

Data: 29.05.2024 (SHYAM SUNDER MUKHIJA)

Director DIN:01552629

Sdf-

(SHUBHANGIJANIFER)
Company Secretary

Sd/-

(MAYAN KJAGGA)

CEIO

Sd/-

(MAHENDRA KUMAR JAIN)

CFO

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Mar 31, 2015

NOTE- 1 "NUTECH GLOBAL LIMITED" is a Public Company domiciled in India and incorporated under the provision of the Companies Act, 2013. The Company is engaged in manufacturing of Fabrics and selling fabrics.

NOTE - 2 CONTINGENT LIABILITIES

Contingent Liabilities not provided for: - a. Bank guarantees given by company

* for import under concessional rate of duty to Customs: Rs. 2,50,000/- (Rs. 2,50,000/-)

* for EPCG License for Import of Capital Goods to Custom: Rs. 5,05,000/- (Rs. 5,05,000/-)

NOTE 3 - EARNING PER SHARE

As per accounting Standard -20"Earning per Share" issued by the Institute of Chartered Accountant of India, the particulars of EPS for equity Share holders are as below:

NOTE 4- RELATED PARTY DISCLOSURE :

The company is having following related parties as defined under AS-18 issued by ICAI.

1. Related Party Disclosures

A. List of related parties with whom transactions have taken place and relationships: Enterprises in which Directors are interested (Associates)

a. Trishul Textile Mills Private Limited

b. Golden Seam Textiles Private Limited

c. Shree Navchitra Properties Private Limited

d. M/s Narain Das Shyam Sunder

e. Navlok Exhibitors P Ltd.

f. Nutech Refractories Private Limited

Relative of Key Managerial Personnel (KMP)

a. Sh. Sanjeev Mukhia

b. Sh. S. S. Mukhija

Key Managerial Personnel (KMP)

a. Sh. Rajeev Mukhija - Managing Director

b. Smt. Radhika Mukhija- Whole-time Director

NOTE 5- RETIREMENT BENEFITS

(a) Company's contribution accruing during the year in respect of Provident Fund and Employee State Insurance Scheme has been charged to Profit & Loss Account.

(b) Short term and long term employee's benefit including Gratuity and Leave Encashment are recog- nized as an expense at the un-discounted amount in the profit and loss account of the year in which related service is rendered. Leave Encashment liability is provided on accrual basis as on 31st March of every year and paid in next following year.

The Disclosures with respect to Accounting Standard (AS -15) (Revised 2005) " Employee Benefits" are as under: -

A. Defined Contribution Plans

a. Employer's Contribution to Provident Fund

b. Employers Contribution to Employees' State Insurance

The Company has recognized the following amounts in Profit & Loss Account

As the company's significant business activity falls within a single primary business segment viz. "manufac- turing of Fabrics", the disclosure requirement of accounting Standard-17 "Segment reporting", issued by Institute of Chartered Accountants of India, is not applicable.

NOTE 6 - DUES TO MICRO, SMALL & MEDIUM ENTERPRISES

The Government of India has promulgated an act namely "The Micro, Small & Medium Enterprises Develop- ment Act 2006" which comes into force with effect from October,2 2006. As per The Act, the Company is required to identify the Micro & Small Enterprises & Pay them interest on over due beyond the specified period irrespective of the terms agreed with the enterprises. The Company has initiated the process of identification of such suppliers. In view of number of supplier & no receipt of critical inputs & response from several such potential parties, the liability of interest cannot be reliable estimates nor can required disclo- sure be made. Accounting in this regard will be carried out after process is complete and reliable estimate can be made. Since the Company is regular in making payments to all suppliers, the management does not anticipate any significant interest liability

NOTE 7 - PREVIOUS YEAR FIGURES

The figures for previous year have been re-grouped, re-arranged and re-classified wherever necessary to make them comparable with the current year's figure.

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Mar 31, 2014

1. A. The Company has only one Class of Equity Shares having at par value of Rs. 10 per share. Each holder of equity shares is entitled to one vote per share.

B. During the year ended 31 March 2014, the Company has not issued any shares.

* There is no expenditure incurred on employees who were in receipt of remuneration in the aggregate of not less than Rs. 24,00,000/- p.a. if employed through out the year and Rs. 2,00,000/- per month for a part of the year.

## Detailed working for Employee benefit schemes is shown in note no. 34

NOTE- 3 "NUTECH GLOBAL LIMITED" is a Public Company domiciled in India and incorporated under the provision of the Companies Act, 1956. The Company is engaged in manufacturing of Fabrics and selling fabrics.

NOTE - 4 CONTINGENT LIABILITIES

Contingent Liabilities not provided for: -

a. Bank guarantees given by company

* for import under concessional rate of duty to Customs: Rs. 2,50,000/- (Rs. 2,50,000/-)

* for EPCG License for Import of Capital Goods to Custom: Rs. 5,05,000/- (Rs. 5,05,000/-)

* to bank against loan to third party Rs. 6,71,00,000/- (Rs. 6,71,00,000/-)

NOTE 5 - RETIREMENT BENEFITS

(a) Company''s contribution accruing during the year in respect of Provident Fund and Employee State Insurance Scheme has been charged to Profit & Loss Account.

(b) Company''s Textile Division was took the Leave Encashment policy in previous year from Life Insur- ance Corporation of India. The obligation for leave encashment is valued on actuarial made by the Life Insurance Corporation of India under employee''s scheme. Any shortfall or excess based on such valuation is accounted for.

(c) Liability in respect of employee''s gratuity is valued on actuarial basis made by the Life Insurance Corporation of India under employees'' group gratuity scheme. Any shortfall or excess based on such valuation is accounted for.

As the company''s significant business activity falls within a single primary business segment viz. "manufac- turing of Fabrics", the disclosure requirement of accounting Standard-17 "Segment reporting", issued by Institute of Chartered Accountants of India, is not applicable.

NOTE 6 - DUES TO MICRO, SMALL & MEDIUM ENTERPRISES

The Government of India has promulgated an act namely "The Micro, Small & Medium Enterprises Develop- ment Act 2006" which comes into force with effect from October,2 2006. As per The Act, the Company is required to identify the Micro & Small Enterprises & Pay them interest on over due beyond the specified period irrespective of the terms agreed with the enterprises. The Company has initiated the process of identification of such suppliers. In view of number of supplier & no receipt of critical inputs & response from several such potential parties, the liability of interest cannot be reliable estimates nor can required disclo- sure be made. Accounting in this regard will be carried out after process is complete and reliable estimate can be made. Since the Company is regular in making payments to all suppliers, the management does not anticipate any significant interest liability

NOTE 7 - PREVIOUS YEAR FIGURES

The figures for previous year have been re-grouped, re-arranged and re-classified wherever necessary to make them comparable with the current year''s figure.

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Mar 31, 2013

NOTE- 1 "NUTECH GLOBAL LIMITED" is a Public Company domiciled in India and incorporated under the provision of the Companies Act, 1956. The Company is engaged in manufacturing of Fabrics and selling fabrics.

NOTE - 2 CONTINGENT LIABILITIES

Contingent Liabilities not provided for: -

a. Bank guarantees given by company

- for import under concessional rate of duty to Customs: Rs. 2,50,000/- (Rs. 2,50,000/-)

- for EPCG License for Import of Capital Goods to Custom: Rs. 5,05,000/- (Rs. 2,90,000/-)

- to bank against loan to third party Rs. 6,71,00,000/- (Rs. 6,71,00,000/-)

NOTE 3- RELATED PARTY DISCLOSURE:

The company is having following related parties as defined under AS-18 issued by ICAI.

1. Related Party Disclosures

A. List of related parties with whom transactions have taken place and relationships:

Enterprises in which Directors are interested (Associates)

1. Trishul Textile Mills Private Limited

2. Golden Seam Textiles Private Limited

3. Shree Navchitra Properties Private Limited

4. M/s Narain Das Shyam Sunder

5. Navlok Exhibitors P. Ltd.

6. Nutech Refractories Private Limited

Relative of Key Managerial Personnel (KMP)

1. Sh. Sanjeev Mukhia

2. Sh. S. S. Mukhija

Key Managerial Personnel (KMP)

1. Sh. Rajeev Mukhija - Managing Director

2. Smt. Radhika Mukhija- Whole-time Director

NOTE 4 - RETIREMENT BENEFITS

(a) Company''s contribution accruing during the year in respect of Provident Fund and Employee State Insurance Scheme has been charged to Profit & Loss Account. .

(b) Company''s Textile Division was took the Leave Encashment policy in previous year from Life Insurance Corporation of India. The obligation for leave encashment is valued on actuarial made by the Life Insurance Corporation of India under employee''s scheme. Any shortfall or excess based on such valuation is accounted for.

(c) Liability in respect of employee''s gratuity is valued on actuarial basis made by the Life Insurance Corporation of India under employees'' group gratuity scheme. Any shortfall or excess based on such valuation is accounted for.

The Disclosures with respect to Accounting Standard (AS -15) (Revised 2005)" Employee Benefits" are as under: -

B. Defined Benefit Plans

Gratuity (Non-Funded)

Gratuity has been provided at actual (un-discounted) manner, based on the 15 days salary for every completed year of service.

NOTE 5 SEGMENT REPORTING

As the company''s significant business activity falls within a single primary business segment viz. "manufacturing of Fabrics", the disclosure requirement of accounting Standard-17 "Segment reporting", issued by Institute of Chartered Accountants of India, is not applicable.

NOTE 6 - DUES TO MICRO, SMALL & MEDIUM ENTERPRISES

The Government of India has promulgated an act namely "The Micro, Small & Medium Enterprises Development Act 2006" which comes into force with effect from October,2 2006. As per The Act, the Company is required to identify the Micro & Small Enterprises & Pay them interest on overdue beyond the specified period irrespective of the terms agreed with the enterprises. The Company has initiated the process of identification of such suppliers. In view of number of supplier & no receipt of critical inputs & response from several such potential parties, the liability of interest cannot be reliable estimates nor can required disclosure be made. Accounting in this regard will be carried out after process is complete and reliable estimate can be made. Since the Company is regular in making payments to all suppliers, the management does not anticipate any significant interest liability

NOTE 7 - PREVIOUS YEAR FIGURES

The figures for previous year have been re-grouped, re-arranged, re-grouped and re-classified wherever necessary to make them comparable with the current year''s figure.

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Mar 31, 2012

NOTE- 1 "NUTECH GLOBAL LIMITED" is a Public Company domiciled in India and incorporated under the provision of the Companies Act, 1956. The Company is engaged in manufacturing of Fabrics and selling fabrics.

NOTE-2 CONTINGENT LIABILITIES

Contingent Liabilities not provided for:

a. Bank guarantees given by company

- for import under concessional rate of duty to Customs: Rs. 2,50,000/- (Rs. 2,50,000/-)

- to bank against loan to third party Rs. 6,71,00,000/-

b. Outstanding Letter of Credit: Nil (Rs. Nil)

c. Disputed Income Tax: Rs. 84665/- (Rs. 84665/-)

NOTE 3- RELATED PARTY DISCLOSURE:

The company is having following related parties as defined under AS-18 issued by ICAI.

1. Related Party Disclosures

A. List of related parties with whom transactions have taken place and relationships: Enterprises in which Directors are interested (Associates)

1. Trishul Textile Mills Private Limited

2. Golden Seam Textiles Private Limited

3. Shree Navchitra Properties Private Limited

4. M/s Narain Das Shyam Sunder

5. Navlok Exhibitors P. Ltd.

6. Nutech Refractories Private Limited Relative of Key Managerial Personnel (KMP)

1. Sh. Sanjeev Mukhia

2. Sh. S. S. Mukhija

Key Managerial Personnel (KMP)

1. Sh. Rajeev Mukhija - Managing Director

2. Smt. Radhika Mukhija- Whole-time Director

B. Related Party Transactions

NOTE 4 - RETIREMENT BENEFITS

(a) Company's contribution accruing during the year in respect of Provident Fund and Employee State Insurance Scheme has been charged to Profit & Loss Account.

(b) Company's Textile Division was took the Leave Encashment policy in previous year from Life Insurance Corporation of India. The obligation for leave encashment is valued on actuarial made by the Life Insurance Corporation of India under employee's scheme. Any shortfall or excess based on such valuation is accounted for.

(c) Liability in respect of employee's gratuity is valued on actuarial basis made by the Life Insurance Corporation of India under employees' group gratuity scheme. Any shortfall or excess based on such valuation is accounted for.

The Disclosures with respect to Accounting Standard (AS -15) (Revised 2005) " Employee Benefits" are as under: -

A. Defined Contribution Plans

a. Employer's Contribution to Provident Fund

b. Employers Contribution to Employees' State Insurance

The Company has recognized the following amounts in Profit & Loss Account.

B. Defined Benefit Plans Gratuity (Non-Funded)

Gratuity has been provided at actual (un-discounted) manner, based on the 15 days salary for every completed year of service.

Amount Recognized in the Balance Sheet

C. Leave Encashment (Non- Funded)

Leave Encashment has been provided at actual (un-discounted) manner, based on the leave standing credit of the employee as at the Balance Sheet date.

Amount Recognized in the Balance Sheet

NOTE 5 -SEGMENT REPORTING

As the company's significant business activity falls within a single primary business segment viz. "manufacturing of Fabrics", the disclosure requirement of accounting Standard - 17 "Segment reporting", issued by Institute of Chartered Accountants of India, is not applicable.

NOTE 6 - DUES TO MICRO, SMALL & MEDIUM ENTERPRISES

The Government of India has promulgated an act namely "The Micro, Small & Medium Enterprises Development Act 2006" which comes into force with effect from October,2 2006. As per The Act, the Company is required to identify the Micro & Small Enterprises & Pay them interest on over due beyond the specified period irrespective of the terms agreed with the enterprises. The Company has initiated the process of identification of such suppliers. In view of number of supplier & no receipt of critical inputs & response from several such potential parties, the liability of interest cannot be reliable estimates nor can required disclosure be made. Accounting in this regard will be carried out after process is complete and reliable estimate can be made. Since the Company is regular in making payments to all suppliers, the management does not anticipate any significant interest liability

NOTE 7 - PREVIOUS YEAR FIGURES

Till the year ended 31 March 2011, the Company was using pre-revised schedule VI to the Companies Act, 1956, for preparation and presentation of its financial statements. During the year ended 31 March 2012, the revised schedule VI notified under the companies act 1956, has become applicable to the company. The company has reclassified previous year figures to conform to this year's classification. The adoption of revised schedule VI does not impact recognitions measurement principles followed for preparation of financial statements. However, it significantly impacts presentation and disclosures made in the financial statements, particularly presentation of Balance Sheet.

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Mar 31, 2010

1. The balances of sundry debtors, creditors and loans and advances are subject to confirmation.

2. In the opinion of Board of directors the Current Assets, Loans and advances have a value on realiza- tion in the ordinary course of business at least equal to the amount at which they are stated except as expressly stated otherwise and all known liabilities have been provided in the accounts.

3. The company during the year has charged depreciation on Plant & Machinery and Other Assets which are used under double shift, at the rate specified for single shift under schedule XIV of the Companies Act, 1956. In the judgment of the management, single shift depreciation rates as specified in Schedule XIV of the Companies Act, 1956 are more appropriate rates of depreciation to be charged based on the remaining useful life of the assets. Consequently, due to change in the rates of depreciation the loss during the year is understated and the fixed assets are overstated by Rs. 24.44 Lacs.

4. Related Party Disclosures

A. List of related parties with whom transactions have taken place and relationships: Enterprises in which Directors are interested (Associates)

1. Trishul Textile Mills Private Limited

2. Golden Seam Textiles Private Limited

3. Shree Navchitra Properties Private Limited

4. Narain Das Shyam Sunder

5. Navlok Exhibitors P. Ltd.

6. Navrang Refractories Private Limited

7. Nutech Refractories Private Limited Relative of Key Managerial Personnel (KMP)

1. Sh. Sanjeev Mukhia

2. Sh. S. S. Mukhija

Key Managerial Personnel (KMP)

1. Sh. Rajeev Mukhija - Managing Director

2. Smt. Radhika Mukhija- Whole-time Director

5. On the basis of information available to company there is no outstanding under the head "Total out- standing dues of Micro, Small and Medium Enterprises.

6. As the companys significant business activity falls within a single primary business segment viz. "manufacturing of Fabrics", the disclosure requirement of accounting Standard-17 Segment report- ing", issued by Institute of Chartered Accountants of India, is not applicable.

7. The Disclosures with respect to Accounting Standard (AS -15) (Revised 2005) " Employee Benefits" are as under: -

A. Defined Contribution Plans

a. Employers Contribution to Provident Fund

b. Employers Contribution to Employees State Insurance

8. Contingent Liabilities not provided for: -

a. Bank guarantees given by company

- for import under concessional rate of duty to Customs: Rs. 2,50,000/- (Rs. 2.50,000/-)

- to bank against loan to third party Rs. 5,61,00,000/- (Rs. 5,61,00,000)

b. Outstanding Letter of Credit: Nil (Rs. Nil)

c. Disputed Income Tax: Rs. 84665/- (Rs. 84665/-)

9. Additional information pursuant to the provisions of paragraph 3 & 4 of Part II of Schedule VI of the Companies Act, 1956 to the extent applicable to the company are as under (As certified by and classified by the management): -

10. Figures for the previous year has been regrouped and rearranged wherever considered necessary.