Notes to Accounts of Omega Ag-Seeds (Punjab) Ltd.

Mar 31, 2024

(m) Provisions, Contingent Liabilities and Contingent Assets

Provisions are recognized when the Company has a Present Obligation (legal or constructive)
as a result of a past event, 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 of the
amount of the obligation. Contingent Liability is disclosed in case of a present obligation arising
from past events, when it is not probable that an outflow of resources will be required to settle
the obligation or where no reliable estimate is possible. Contingent Liabilities are not recognized
in Financial Statements but are disclosed in the Notes to Accounts. Contingent Asset is a possible
asset that arises from past events and whose existence will be confirmed only by the occurrence
or non-occurrence of one or more uncertain future events not wholly within the control of the
Entity. Contingent Assets are not recognized in Financial Statements and are disclosed in the
Notes when it is virtually certain that economic benefits will inflow to the Company.

(n) Earnings per share (EPS)

Basic EPS is computed using the weighted average number of equity shares outstanding during
the period. Diluted EPS is computed using the weighted average number of equity and dilutive
equity equivalent shares outstanding during the period except where the results would be anti¬
dilutive.

12. Government Subsidy

Subsidy from the Government is recognized when there is reasonable assurance that the company will
comply with the conditions attached to them.

ADDITIONAL INFORMATION TO THE FINANCIAL STATEMENTS

13. Share Capital

There was no change in the share capital of the Company during the year.

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

As at 31st March,2024, the Company has no dues to suppliers registered under Micro, Small and Medium
Enterprises Development Act, 2006 (‘MSMED Act’). The disclosures pursuant to the said MSMED Act
are as follows:

Disclosure of payable to vendors as defined under the “Micro, Small and Medium Enterprise Development Act,
2006” is based on the information available with the Company regarding the status of registrationof such
vendors under the said Act, as per the intimation received from them on requests made by the Company. There
are no overdue principal amounts / interest payable amounts for delayed payments to such vendors at the
Balance Sheet date. There are no delays in payment made to such suppliers during theyear or for any earlier
years and accordingly there is no interest paid or outstanding interest in this regard in respect of payment
made during the year or on balance brought forward from previous year.

15. Disclosure under regulation 34 (3) of SEBI (Listing Obligations & Disclosure Requirement)
Regulations, 2015

The Company does not have any subsidiaries.

16. Related Party disclosure as required by Accounting standard (AS) 18 “Related Party Disclosure”

There were no Related Party disclosures during the year

17. Applicability of IND AS 108

The Company operates in a Single Segment. Accordingly, disclosures under Indian accounting Standards
(IND AS) 108 on operating segments are not applicable to the company.

19. Additional information pursuant to Note 5 of Part II of Schedule III of the Companies Act, 2013:
Foreign Exchange Transactions

There were no foreign Exchange transactions during the year 2023-24. (Previous year Nil)

20. Capital commitment and contingent liabilities

a) Capital commitment

There are no capital commitment outstanding as at reporting date March 31, 2024 (as at March
31, 2023: NIL)

b) Contingent Liabilities and Commitments

There are no contingent liabilities.

21. The Disclosures of Employee Benefits:

During the year, no provision has been created for Gratuity or other retirement benefits.

22. Taxes and Deferred

Tax During the year, the company has incurred loss and consequently no provision for Income Tax has
been made. Deferred Tax asset is not accounted for against the losses since there are no commercial
operations as on the date of balance sheet.

23. Other Statutory Information:

(i) The Company has not been declared willful defaulter by any bank or financial institution or
government or any government authority.

(ii) The Company has not granted Loans or Advances in the nature of loans to promoters, directors,
KMPsand the related parties.

(iii) The Company does not have any transactions with companies which are struck off.

24. Previous year’s figures have been regrouped/reclassified wherever necessary to correspond with the
current year’s classification/disclosure.

As per Our report of even date

For PPKG & Co For and on behalf of the Board of Directors

Chartered Accountants, F.R.No.09655S of Omega AG seeds Punjab Limited

Sd/- Sd/- Sd/-

Girdhari Toshniwal K.Lakshmanrao Geetha Rukmini Vankadaru

PARTNER Managing Director Director

Membership No: 205140 DIN: 07706939 DIN: 08162647

UDIN: 24205140BKALIP5011

Sd/-

Place: HYDERABAD A.V.V.Satyanarayana

Date: 14.05.2024 Chief Financial Officer

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Mar 31, 2014

Not Available.

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Mar 31, 2013

A) RELATED PARYT DISCOLSERS (AS-18)

The related party Disclosures as required as per Accounting Standard (AS-18) on Related party Disclosures Issued by Institute of Chartered Accountants of India are as below: -

A. PARTY RELATION

Omega Ag-Seeds (India) Limited Promoter Company

Punjab Agro Ind. Corporation (PAIC) Promoter Company

B. Key Managerial Personnel

Mr.Nerella Mohan Rao Venkatarama Managing Director a) Disclosure required for related parties transactions.

The Amounts outstanding at Balance sheet Date.

Amount Recoverable from Promoter Company

Omega Ag-Seeds (India) Ltd Rs. 1,46,277/-

Amount Payable to Managerial Personnel

Mr. Nerella Mohan Rao Venkatrama Rs. 30,20,000/-

B) Expenses /Revenue in Foreign currency - NIL

C) Balance of Sundry Debtors, Sundry Creditors and growers and loans & Advances are subject to confirmation.

D) The company has calculated Deferred Tax liability as at 31.03.2013 in accordance with the Accounting Standards (AS-22) issued by The Institute of Chartered Accountants of India.

E) In the opinion of the management the value realization of current assets and bans & Advances in the ordinary course of business will not be less than the amount at which they are stated in the Balance Sheet.

F) In accordance with the Accounting Standard (AS-22) issued by Institute of Chartered Accountants of India, the company has Deferred Tax liability as ait 31.03.2013 with regard to timing difference of depreciation of previous years and current year.

G) Figures for the previous year have been regrouped or rearranged wherever necessary.

H) Praise have been rounded to nearest rupee.

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Mar 31, 2012

A RELATED PARTY DISCLOSERS ( AS-18 )

The Related Party Disclosures as required as per Accounting Standard (AS-18) on " Related Party Disclosures" issued by the Institute of Chartered Accountants of India are as below:-

a) List of Related Party and Relationship

A. Party

Relation

Omega Ag-Seeds (India) Limited Promoter Company

Punjab Agro Ind.Corporation (PAIC) Promoter Company

B. Key Managerial Personnel

Mrs Leena N. Parekh Director / Chairperson

Mr. Nerella Mohan Rao Venkatarama Director

b) Disclosure required for related parties transactions.

B Amounts outstanding at Balance Sheet Date.

Amount Recoverable from Promoter Company Omega Ag-Seeds (India) Ltd Rs. 146277.16

Amount Payable to Managerial Personnel Mrs Leena N. Parekh Rs. 286287

Mr. Nerella Mohan Rao Venkatrama Rs. 1900000 M) Expenses / Revenue in Foreign Currency = NIL

C) Balance of Sundry Debtors, Sundry Creditors and growers and loans & Advances are subject to confirmation.

D) The Company calculated has Deferred Tax liability as at 31.03.2012 in accordance with the Accounting Standards (AS-22) issued by the Institute of Chartered Accountants of India.

E) In the opinion of the management the value of realization of current assets and loans & Advances in the ordinary course of business will not be less than the amount at which they are stated in the Balance Sheet

F) The financial statements for the year ended 31st March, 2011 had been prepared as per the then applicable pre-revised Schedule VI to the Companies Act 1956. Consequent to the notification of Revised Schedule VI under the Companies Act, 1956 the financial statements for the year ended 31st March, 2012 are prepared as per the Revised Schedule VI. Previous year figures have been regrouped or rearranged to conform to this year's classification. The adoption of Revised Schedule VI for previous year figures does not impact recognition and measurement principles followed for preparation of financial statements.