Notes to Accounts of Perfectpac Ltd.

Mar 31, 2025

The Company has only one class of issued equity shares having a par value Rs. 2 per equity share. Each holder of Equity Share is entitled for one vote per share held.The Company declares and pays dividends in Indian Rupees. The Dividend proposed by the Board of Directors is subject to the approval of Shareholders in the ensuing General Meeting except in case of interim dividend.

In the event of liquidation of the Company, the holders of Equity Shares will be entitled to receive any of the remaining assets of the Company, after distribution of all preferential amounts. However, no such preferential amounts exist currently. The distribution will be in proportion to the number of Equity Shares held by the Shareholders.

Dividends:

The Company declares and pays dividend in Indian Rupees. The dividend proposed by the Board of Directors is subject to the approval of Shareholders in the ensuing Annual General Meeting except in case of interim dividend.

In the event of liquidation of the Company, the holders of the equity shares will be entitled to receive any of the remaining assets of the Company, after distribution of all preferential amounts. However no such preferential amounts exist currently. The distribution will be in proportion to the number of equity shares held by the Shareholders.

Nature and Description of Reserve :

(i) Securities Premium : The amount received in excess of face value of the equity shares is recognised in Securities Premium Reserve. It can be utilised in accordance with the provisions of the Act, to issue bonus shares, to provide for premium on redemption of shares or debentures, write-off equity related expenses like underwriting costs etc.

(ii) General Reserve : It represents the portion of the net profit which the Company has transferred, before declaring dividend pursuant to the earlier provision of Companies Act,1956. Mandatory transfer to General Reserve is not required under the Companies Act, 2013.

(iii) Retained Earnings : Retained Earnings are the accumulated profits earned by the Company as on Balance Sheet date.

(iv) Other Comprehensive Income : Other Comprehensive Income represents actual gain/loss on remeasurement of defined benefit obligations.

(Rupees in Lakhs)
Particulars	As at	As at
	31st March, 2025	31st March, 2024
32 CONTINGENT LIABILITIES
Contingent Liabilities & Commitments (To the extent not provided for) Outstanding Capital Commitment (Net of Advances)	619.89	79.78

33 Profit/loss on sale of raw materials, fuel and stores & spares etc if any stand adjusted in their consumption Accounts.

34 The company has taken Office premises and godown under a cancellable operating lease. The lease is usually renewed by mutual consent on mutually agreeable terms. Total rental expenses under such lease Rs. 25.25 Lakhs (Rs.4.49 Lakhs).

39 Based on the guiding principles given in Ind AS 108 on “Operating Segment” the Company’s business activity falls within a single operating segment, namely Packaging. Accordingly, the disclosure requirements of Ind AS 108 are not applicable.

40 Disclosure under the Micro, Small and Medium Enterprises Development Act, 2006

On the basis of confirmation obtained from suppliers who have registered themselves under the Micro Small Medium Enterprise Development Act, 2006 (MSMED Act, 2006) and based on the information available with the Company, the following are the details:

41 The Company has used the borrowings from Banks and Financial Institutions for the specific purposes, for which it was taken at the Balance Sheet date.

42 The Company does not have any Immovable Property (other than properties where the company is the lessee and the lease agreements are duly executed in favour of the lessee) whose title deeds are not held in the name of the company.

43 The Company has not revalued its Property/Plant/Equipment during the year.

44 No Loans or Advances in the nature of loans are granted to promoters, directors, KMPs and the related parties (as defined under the Companies Act 2013), either severally or jointly with any other person, that are repayable on demand or without specifying and terms or period of repayment.

45 The Company does not hold any benami property under the Benami Transactions (Prohibition) Act, 1988 (45 of 1988) and the Rules made thereunder.

46 The quarterly returns/ statements of current assets filed by the Company with Banks/ Financial Institutions in respect of borrowings from Banks/Financial Institutions on the basis of security of current assets do not materially differ with the books of accounts.

47 The Company has not been declared wilful defaulter by any Bank/Financial Institution/other lender.

48 The Company does not have any transaction with companies struck off under Section 248 of Companies Act, 2013/ Section 560 of Companies Act 1956.

50 The Company does not have any layers prescribed under Clause (87) of Section 2 of the Act, read with Companies (Restriction on number of Layers) Rules, 2017.

51 No Scheme of Arrangements has been approved by the competent authority in terms of Section 230 to 237 of Companies Act, 2013.

52 The Company has not advanced/loaned/invested funds(either borrowed funds or share premium or any other sources or kind of funds) to any other person(s) or entity(ies) including foreign entities (intermediaries) with understanding (whether recorded in writing or otherwise) that the intermediary shall

i. Directly or indirectly lend or invest in other persons or entities identified in any other matter whatsoever by or on behalf of the company (Ultimate Beneficiaries) or

ii. Provide any guarantee or security or the like to or on behalf of the Ultimate Beneficiaries.

53 The Company has not received any fund from any person(s) or entity(ies), including foreign entities (Funding Party) with the understanding (whether recorded in writing or otherwise) that the Company shall

i. Directly or indirectly lend or invest in other persons or entities identified in any matter whatsoever by or on behalf of Funding Party (Ultimate Beneficiaries) or

ii. Provide any guarantee, security or the like on behalf of Ultimate Beneficiaries.

54 The Company does not have any transaction 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.

55 The Company has not traded or invested in Crypto Currency or Virtual Currency during the Financial Year.

b) Fair Value Hierarchy

The Company determines the fair value of its financial instruments on the basis of the following hierarchy:

Level 1 :The fair value of financial instruments that are quoted in active markets are determined on the basis of quoted price for identical assets or liabilities.

Level 2: The fair value of financial instruments that are not traded in an active market are determined using valuation techniques based on observable market data.

Level 3: The fair value of financial instruments that are measured on the basis of entity specific valuations using inputs that are not based on observable market data (unobservable inputs). Fair value of investment in unquoted equity shares is determined using discounted cash flow technique.

The carrying amounts of all financial instruments are considered to be the same as their fair values.

c) Financial Risk Management

In the course of its business, the Company is exposed to a number of financial risks: credit risk, liquidity risk, market risk. This note presents the Company’s objectives, policies and processes for managing its financial risk and capital.

i) Credit Risk

Credit risk is the risk of financial loss to the Company if a customer or counterparty to a financial instrument fails to meet its contractual obligations, and arises principally from the Company’s receivables from customers.

Trade and other receivables

The Company’s Trade Receivables are largely from sales made to wholesale customers. The Company’s exposure to credit risk is influenced mainly by the individual characteristics of each customer,deomgraphics of the customer and the default risk of the industry.

The Company manages credit risk through credit approvals, establishing credit limits and continuously monitoring the creditworthiness of customers to which the Company grants credit terms in the normal course of business.

Exposoures to customers outstanding at the end of each reporting period are reviewed to determine incurred and expected credit losses and the Company establishes an allowance for doubtful debts and impairment that represents its estimate of expected losses in respect of trade receivables. Historical trends of impairment of Trade Receivables do not reflect any significant losses.

ii) Liquidity Risk

Liquidity risk refers to risk that the Company may encounter difficulties in meeting its obligations associated with financial liabilities that are settled in cash or other financial assets. The Company regularly monitors the rolling forecasts to ensure that sufficient liquidity is maintained on an ongoing basis to meet operational needs. The Company manages the liquidity risk by planning the investments in a manner such that the desired quantum of funds could be made available to meet any of the business requirements within a reasonable period of time. In addition, the Company also maintains flexibility in arranging the funds by maintaining committed credit lines with various banks to meet the obligations.

Exposure to Liquidity Risk

The following are the remaining contractual maturities of financial liabilities at the reporting date. The amounts are gross and undiscounted and include estimated interest payments and exclude the impact of netting agreements.

iii) Market risk

Market risk is the risk of loss of future earnings, fair values or future cash flows that may result from adverse changes in market rates and prices (such as interest rates and foreign currency exchange rates) or in the price of market risk-sensitive instruments as a result of such adverse changes in market rates and prices. Market risk is attributable to all market risk-sensitive fnancial instruments, all foreign currency receivables and payables. The Company is exposed to market risk primarily relates to foreign exchange rate risk.

Currency risk

The fluctuation in foreign currency exchange rates may have potential impact on the profit and loss account, where any transaction references more than one currency or where assets/liabilities are denominated in a currency other than the functional currency of the entity. The Company is exposed to currency risk on account of its payables in foreign currency. The functional currency of the Company is Indian Rupee. The Company is exposure to USD. The Company has not hedged this foreign currency exposure.

59. Previous year figures have been re-grouped / rearranged wherever, necessary to make them comparable with those of current years.

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Mar 31, 2024

(q) Provisions and Contingent Liabilities

A provision is recognized if as a result of a past event, the Company has a present obligation (legal or constructive) that can be estimated reliably and it is probable that an outflow of economic benefits will be required to settle the obligation. Provisions are recognized at the best estimate of the expenditure required to settle the present obligation at the Balance Sheet date. If the effect of 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.

A contingent liability exists when there is a possible but not probable obligation, or a present obligation that may, but probably will not, require an outflow of resources, or a present obligation whose amount cannot be estimated reliably. Contingent liabilities do not warrant provisions but are disclosed unless the possibility of outflow of resources is remote. Contingent assets are neither recognized nor disclosed in the Ind AS Financial Statements. However, when the realization of income is virtually certain then the related asset is not a contingent asset and its recognition is appropriate.

(r) Rounding of Amounts

All amounts disclosed in the Financial Statements and accompanying notes have been rounded off to the nearest lakhs as per the requirement of Schedule III of the Companies Act, 2013 unless otherwise stated.

(s) Dividends

Dividend proposed (including income tax thereon) is recognized in the period in which interim dividends are approved by the Board of Directors or in respect of final dividend when approved by shareholders.

(t) Borrowing Cost

Borrowing costs directly attributable to the acquisition or construction of qualifying assets are capitalized as part of the cost of such assets. A qualifying asset is one that necessarily takes substantial period of time to get ready for its intended use. All other borrowing costs are charged to the Statement of Profit and Loss for the period for which they are incurred.

(u) Recent pronouncements

Ministry of Corporate Affairs notifies (“MCA”) notifies new Standards or amendments to the existing Standards under Companies (Indian Accounting Standards) Rules, 2023, as issued from time to time. For the year ended March 31, 2024, MCA has not notified any new standards or amendments to the existing standards applicable to the Company.

41 The Company has used the borrowings from Banks and Financial Institutions for the specific purposes, for which it was taken at the Balance Sheet date.

42 The Company does not have any Immovable Property (other than properties where the company is the lessee and the lease agreements are duly executed in favour of the lessee) whose title deeds are not held in the name of the company.

43 The Company has not revalued its Property/Plant/Equipment during the year.

44 No Loans or Advances in the nature of loans are granted to promoters, directors, KMPs and the related parties (as defined under the Companies Act 2013), either severally or jointly with any other person, that are repayable on demand or without specifying and terms or period of repayment.

45 The Company does not hold any benami property under the Benami Transactions (Prohibition) Act, 1988 (45 of 1988) and the Rules made thereunder.

46 The quarterly returns/ statements of current assets filed by the Company with Banks/ Financial Institutions in respect of borrowings from Banks/Financial Institutions on the basis of security of current assets do not materially differ with the books of accounts.

47 The Company has not been declared wilful defaulter by any Bank/Financial Institution/other lender.

48 The Company does not have any transaction with companies struck off under Section 248 of Companies Act, 2013/ Section 560 of Companies Act 1956.

50 The Company does not have any layers prescribed under Clause (87) of Section 2 of the Act, read with Companies (Restriction on number of Layers) Rules, 2017.

51 No Scheme of Arrangements has been approved by the competent authority in terms of Section 230 to 237 of Companies Act, 2013.

52 The Company has not advanced/loaned/invested funds(either borrowed funds or share premium or any other sources or kind of funds) to any other person(s) or entity(ies) including foreign entities (intermediaries) with understanding (whether recorded in writing or otherwise) that the intermediary shall

i. Directly or indirectly lend or invest in other persons or entities identified in any other matter whatsoever by or on behalf of the company (Ultimate Beneficiaries) or

ii. Provide any guarantee or security or the like to or on behalf of the Ultimate Beneficiaries.

53 The Company has not received any fund from any person(s) or entity(ies), including foreign entities (Funding Party) with the understanding (whether recorded in writing or otherwise) that the Company shall

i. Directly or indirectly lend or invest in other persons or entities identified in any matter whatsoever by or on behalf of Funding Party (Ultimate Beneficiaries) or

ii. Provide any guarantee, security or the like on behalf of Ultimate Beneficiaries.

b) Fair Value Hierarchy

The Company determines the fair value of its financial instruments on the basis of the following hierarchy:

Level 1: The fair value of financial instruments that are quoted in active markets are determined on the basis of quoted price for identical assets or liabilities.

Level 2: The fair value of financial instruments that are not traded in an active market are determined using valuation techniques based on observable market data.

Level 3: The fair value of financial instruments that are measured on the basis of entity specific valuations using inputs that are not based on observable market data (un observable inputs). Fair value of investment in unquoted equity shares is determined using discounted cash flow technique.

The carrying amounts of all financial instruments are considered to be the same as their fair values.

c) Financial Risk Management

In the course of its business, the Company is exposed to a number of financial risks: credit risk, liquidity risk, market risk. This note presents the Company’s objectives, policies and processes for managing its financial risk and capital.

i) Credit Risk

Credit risk is the risk of financial loss to the Company if a customer or counterparty to a financial instrument fails to meet its contractual obligations, and arises principally from the Company’s receivables from customers.

Trade and other receivables

The Company’s Trade Receivables are largely from sales made to wholesale customers. The Company’s exposure to credit risk is influenced mainly by the individual characteristics of each customer,deomgraphics of the customer and the default risk of the industry.

The Company manages credit risk through credit approvals, establishing credit limits and continuously monitoring the creditworthiness of customers to which the Company grants credit terms in the normal course of business.

Exposoures to customers outstanding at the end of each reporting period are reviewed to determine incurred and expected credit losses and the Company establishes an allowance for doubtful debts and impairment that represents its estimate of expected losses in respect of trade receivables. Historical trends of impairment of Trade Receivables do not reflect any significant losses.

Liquidity risk refers to risk that the Company may encounter difficulties in meeting its obligations associated with financial liabilities that are settled in cash or other financial assets. The Company regularly monitors the rolling forecasts to ensure that sufficient liquidity is maintained on an ongoing basis to meet operational needs. The Company manages the liquidity risk by planning the investments in a manner such that the desired quantum of funds could be made available to meet any of the business requirements within a reasonable period of time. In addition, the Company also maintains flexibility in arranging the funds by maintaining committed credit lines with various banks to meet the obligations.

Exposure to Liquidity Risk

The following are the remaining contractual maturities of financial liabilities at the reporting date. The amounts are gross and undiscounted and include estimated interest payments and exclude the impact of netting agreements.

Market risk is the risk of loss of future earnings, fair values or future cash flows that may result from adverse changes in market rates and prices (such as interest rates and foreign currency exchange rates) or in the price of market risk-sensitive instruments as a result of such adverse changes in market rates and prices. Market risk is attributable to all market risk-sensitive fnancial instruments, all foreign currency receivables and payables. The Company is exposed to market risk primarily relates to foreign exchange rate risk.

Currency risk

The fluctuation in foreign currency exchange rates may have potential impact on the profit and loss account, where any transaction references more than one currency or where assets/liabilities are denominated in a currency other than the functional currency of the entity. The Company is exposed to currency risk on account of its payables in foreign currency. The functional currency of the Company is Indian Rupee. The Company is exposure to USD. The Company has not hedged this foreign currency exposure.

|5j perieetpac limited

CIN No.: L72100DL1972PLC005971

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31^st MARCH, 2024

59. Previous year figures have been re-grouped / rearranged wherever, necessary to make them comparable with those of current years.

As per our report of even date attached	For and on behalf of the Board
For V S S A & Associates (Firm Registration No 012421N) Chartered Accountants	Sanjay Rajgarhia Manish Garg Chaiman and Managing Director Director (DIN: 00154167) (DIN: 01324631)
CA Samir Vaid Partner M. No. 091309 Place : New Delhi Dated : 20.05.2024	Mohinder Nagpal Nidhi Chief Financial Officer Company Secretary (M.No.: 49524)

78

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Mar 31, 2015

RIGHTS, PREFERENCES AND RESTRICTIONS ATTACHED TO SHARES Equity Shares :

The Company has one class of Equity Shares having a par value of Rs 10/- each. Each shareholder is entitled to one vote per share . The dividend proposed by the Board of Directors is subject to the approval of the shareholders in the ensuing Annual General Meeting, except in case of interim dividend . In the event of liquidation of the Company, the equity shareholders will be entitled to receive any of the remaining assets of the company after distribution of all preferential amounts, in proportion to their shareholding.

* First charge by way of hypothecation of movable assets including plant and machinery/equipments etc. acquired/to be acquired under the project/scheme and also secured by way of personal guarantee of Managing Director of the Company. The loan assistance to the extent of Rs.100 Lacs is covred under CGTMSE

* Secured by first charge by way of hypothecation of Inventories, Book debts and collateral security by way of equitable mortgage of factory land & building & hypothecation of specified Plant & Machineries & other miscellaneous fixed assets of the company at Faridabad unit & second charge by way of equitable mortgage of factory Land & building & hypothecation of specified Plant & Machineries & other miscellaneous fixed assets at Greater Noida unit and also secured by way of personal guarantee of Managing Director and other Director of the company.

* As certified by the management on which auditors have placed reliance

NOTE 1. Some of the Sundry Debtors, Advances including Deposits and Current Liabilities are subject to confirmation/ reconciliation.

NOTE 2. Advances (Note-18) include amounts of Rs.551,487 (Rs.551,487/-) paid against demand raised by Sales Tax Authority which the company is contesting. The above payments will be charged to Profit & Loss Account on the decision by Appellate Authority.

NOTE 3. Profit/Loss on sale of raw materials, fuel and stores & spares etc stand adjusted in their consumption Accounts.

NOTE 4. The company has taken Office premises and go down under a cancellable operating lease. The lease is usually renewed by mutual consent on mutually agreeable terms. Total rental expenses under such lease Rs.2,912,951/-(Rs.2,760,000).

(Disclosed in the statement of Profit & Loss as contribution to Provident and other Funds)

b) The Company operators post retirement defined benefit plan for retirement gratuity which is funded.

c) Details of the post retirement gratuity plans & obligations are as follows :

NOTE 5. - Pursuant to the notification of Schedule - II of the Companies Act, 2013 by the Ministry of Corporate Affairs effective 01-04-2014, the company has revised/reassessed the remaining useful lives in accordance with the Schedule and has accounted for higher depreciation charge of Rs.8,359,199/- in the financial results for the year ended 31-03-2015. Further charge of Rs.2,232,990/- (net of deferred tax) has been adjusted against retained earnings) in terms of transitional provision in respect of assets whose remaining useful lives have expired on or before 31-03-2014.

NOTE 6. Related Party Disclosures under Accounting Standard (AS) - 18

a) List of Related Parties (As identified by the Management)

i) Enterprises owned or significantly influenced by key management personnel or their relatives :- Orient Syntex (Prop. APM Industries Limited), Essvee Fiscal Pvt. Ltd., Rajgarhia Leasing & Financial Services Pvt. Ltd., Faridabad Paper Mills Ltd. RKR Foundation, Sanjay Rajgarhia & Son (HUF).

Note : In respect of above parties there is no provision for doubtful debts as on 31.03.2015 and no amount has been written off or written back during the year in respect of debts due from/to them.

NOTE 7. As per Accounting Standard (AS)-17, "Segment Reporting" the Company's business segment is packaging. As this is the only segment no separate disclosure of segment wise information is made.

NOTE 8. Value of Sales, Opening stock & closing stock of Finished & Traded Goods.

NOTE 9. There are no delays in payments to Micro and Small Enterprises as required to be disclosed under the Micro, Small and Medium Enterprises Development Act, 2006 (MSMED Act, 2006). The information regarding Micro and Small enterprises has been determined to the extent such parties have been identified on the basis of information available with the Company. Further, no interest during the year has been paid or payable under the terms of MSMED Act, 2006 :-

FOB value of export

NOTE 10. Figures of Previous Year have been regrouped re-arranged wherever found necessary. Figures in brackets above are in respect of previous year.

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Mar 31, 2014

(Rupees)

NOTE 1. CONTINGENT LIABILITIES & COMMITMENT As at As at

(To the extent not provided for) 31.03.2014 31.3.2013

Contingent Liabilities

a) Interest on Local Area Development Tax recovery 183,000 183,000 of which is stayed by Supreme Court of India

b) ESIC demand excluding interest paid under protest 309,298 309,298 Rs.154,649 (Rs.154,649) being contested in appeal

c) Letter of credit outstanding 19,185,908 18,195,725

d) Disputed Income Tax 190,387 161,602

NOTE 2. Some of the Sundry Debtors, Advances including Deposits and Current Liabilities are subject to confirmation/ reconciliation.

NOTE 3. Advances (Note-18) include amounts of Rs.551,487 (Rs.488,900/-) paid against demand raised by Sales Tax Authority which the company is contesting. The above payments will be charged to Profit & Loss Account on the decision by Appellate Authority.

NOTE 4. Profit/Loss on sale of raw materials, fuel and stores & spares etc stand adjusted in their consumption Accounts.

NOTE 5. The company has taken Office premises and godown under a cancellable operating lease. The lease is usually renewed by mutual consent on mutually agreeable terms. Total rental expenses under such lease Rs.2,760,000/- (Rs.1,693,352).

NOTE 6. Related Party Disclosures under Accounting Standard (AS)-18

a) List of Related Parties (As identified by the Management)

i) Enterprises owned or significantly influenced by key management personnel or their relatives :- Orient Syntex (Prop. APM Industries Limited), Essvee Fiscal Pvt. Ltd., Rajgarhia Leasing & Financial Services Pvt. Ltd., Faridabad Paper Mills Ltd. RKR Foundation, Sanjay Rajgarhia & Son (HUF).

ii) Key Management Personnel and their Relatives :- Directors-Shri Sanjay Rajgarhia, Shri R. K. Rajgarhia, Relatives - Smt. Pooja Rajgarhia.

b) Transactions with Related Parties :

Note : In respect of above parties there is no provision for doubtful debts as on 31.03.2014 and no amount has been written off or written back during the year in respect of debts due from/to them.

NOTE 7. As per Accounting Standard (AS)-17, "Segment Reporting" the Company''s business segment is packaging. As this is the only segment no separate disclosure of segment wise information is made.

NOTE 8. There are no delays in payments to Micro and Small Enterprises as required to be disclosed under the Micro, Small and Medium Enterprises Development Act, 2006 (MSMED Act, 2006). The information regarding Micro and Small enterprises has been determined to the extent such parties have been identified on the basis of information available with the Company. Further, no interest during the year has been paid or payable under the terms of MSMED Act, 2006 :-

NOTE 9. Figures of Previous Year have been regrouped re-arranged wherever found necessary. Figures in brackets above are in respect of previous year.

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Mar 31, 2013

NOTE 1. CONTINGENT LIABILITIES & COMMITMENT

As at As at

(To the extent not provided for) 31.03.2013 31.03.2012

{Contingent Liabilities

a) Interest on Local Area Development Tax recovery 183,000 183,000 of which is stayed by Supreme Court of India

b) ESIC demand excluding interest paid under protest 309,298 309,298 Rs.154,649 lacs (Rs.154,649) being contested in appeal

c) Letter of credit outstanding 18,195,725 28,242,711

d) Disputed Income Tax 161,602 Commitments

a) Estimated amount of outstanding capital commitments - 15,130,174 not provided for

b) Custom Duty Payable on raw materials in Transit - 1,272,946

NOTE 2 Some of the Sundry Debtors, Advances including Deposits and Current Liabilities are subject to confirmation/ reconciliation.

NOTE 3 Advances (Note-17) include amounts of Rs.488,900 (Rs.418,100/-) paid against demand raised by Sales Tax Authority which the company is contesting. The above payments will be charged to Profit & Loss Account on the decision by Appellate Authority.

NOTE 4 Profit/Loss on sale of raw materials, fuel and stores & spares etc stand adjusted in their consumption Accounts.

NOTE 5 The company has taken Office premises and godown under a cancellable operating lease. The lease is usually renewed by mutual consent on mutually agreeable terms. Total rental expenses under such lease Rs.1,693,352 (Rs.36,000).

NOTE 6 During the year due to fire in the factory finished goods of Rs.4,377,989 were destroyed and fixed assets were extensively damaged/destroyed for which the company lodged claim with the Insurance Company which is being assessed by the Surveyours. The adjustment in the Insurance Claims Receivable (Note 17) at Rs. 95,39,399/- will be made when the claim is settled by the Insurance Company.

NOTE 7 Related Party Disclosures under Accounting Standard (AS) - 18

a) List of Related Parties (As identified by the Management)

i) Enterprises owned or significantly influenced by key management personnel or their relatives :- Orient Syntex (Prop. APM Industries Limited), Essvee Fiscal Pvt. Ltd., Rajgarhia Leasing & Financial Services Pvt. Ltd., Faridabad Paper Mills Ltd. RKR Foundation, Sanjay Rajgarhia & Son (HUF).

ii) Key Management Personnel and their Relatives :- Directors-Shri Sanjay Rajgarhia, Shri R. K. Rajgarhia, Relatives - Smt. Pooja Rajgarhia

Note: In respect of above parties there is no provision for doubtful debts as on 31.03.2013 and no amount has been written off or written back during the year in respect of debts due from/to them.

NOTE 8 As per Accounting Standard (AS)-17, "Segment Reproting" the Company''s business segment is packaging. As this is the only segment no separate disclosure of segment wise information is made.

NOTE 9 There are no delays in payments to Micro and Small Enterprises as required to be disclosed under the Micro, Small and Medium Enterprises Development Act, 2006 (MSMED Act, 2006). The information regarding Micro and Small enterprises has been determined to the extent such parties have been identified on the basis of information available with the Company. Further, no interest during the year has been paid or payable under the terms of MSMED Act, 2006 :-

NOTE 10 Figures of Previous Year have been regrouped re-arranged wherever found necessary. Figures in brackets above are in respect of previous year.

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Mar 31, 2012

RIGHTS, PREFERENCES AND RESTRICTIONS ATTACHED TO SHARES Equity Shares :

The Company has one class of Equity Shares having a par value of Rs 10/- each. Each shareholder is eligible for one vote per share held. The dividend proposed by the Board of Directors is subject to the approval of the shareholders in the ensuing Annual General Meeting, except in the case of interim dividend. In the event of liquidation, the equity shareholders are eligible to receive the remaining assets of the company after distribution of all preferential amounts, in proportion to their shareholding.

Preference Shares :

Preference shares have a par value of Rs. 100/- each redeemable at par on or after 1st February, 2014. These shares carry a fixed cumulative dividend of 8% per annum. The preference shareholders are entitled to preferential rights as regards payment of dividends at above fixed rate and right of repayment of capital on winding up.

* First charge by way of equitable mortgage of factory land & building and other moveable fixed assets of the company at Greater Noida unit & second charge by way of equitable mortgage over company's factory land & building and second charge on current assets & other moveable fixed assets of the company at Faridabad unit & also secured against personal guarantee of Managing Director of the company.

* First charge by way of equitable mortgage of factory land & building & specified plant and machinery and other misc. fixed assets of the company at Faridabad unit & second charge on factory Land & building and plant & machinery & other misc. fixed assets of Greater Noida unit & also secured by way of personal guarantee of Managing Director of the company.

* First charge by way of hypothecation of movable assets including plant & machinery/equipments etc.acquired/ to be acquired under the project/ scheme & also secured by way of personal guarantee of Managing Director of the company The loan assistance to the extent of Rs. 100 lacs is covered under CGTMSE.

* Secured by first charge by way of hypothecation of Inventories, Book debts and collateral security by way of equiable mortgage of factory land & building & hypothecation of specified Plant & Machineries & other miscellaneous fixed assets of the company at Faridabad unit & second charge by way of equitable mortgage of factory Land & building & hypothecation of specified Plant & Machineries & other miscellaneous fixed assets at Greater Noida unit and also secured by way of personal guarantee of Managing Director and a Director of the company.

* Secured against specified book debts

1. CONTINGENT LIABILITIES & COMMITMENT (To the extent not provided for)

(Rupees) As at As at

Contingent Liabilities 31.03.2012 31.03.2011

a) Interest on Local Area Development Tax recovery 183,000 183,000 of which is stayed by Supreme Court of India

b) ESIC demand excluding interest paid under protest 309,298 309,298 Rs.154649 (Rs.154649) being contested in appeal

c) Letter of credit outstanding 28,242,711 - Commitments

a) Estimated amount of outstanding capital commitments 15,130,174 2,080,000 not provided for

b) Custom Duty Payable on raw materials in Transit 1,272,946 -

2. Some of the Sundry Debtors, Advances including, Deposits and Current Liabilities are subject to confirmation/ reconciliation.

3. Advances (Note-18) include amounts of Rs.418,100 (Rs.1,92,100) paid against demand raised by Sales Tax Authority which the company is contesting. The above payments will be charged to Profit & Loss Account on the decision by Appellate Authority.

4. Profit/Loss on sale of raw materials, fuel and stores & spares etc stand adjusted in their consumption Accounts.

5. The company has taken Office premises under a cancelable operating lease. The lease is usually renewed by mutual consent on mutually agreeable terms. Total rental expenses under such lease Rs. 36000 (Rs.36000).

6. Related Party Disclosures under Accounting Standard - 18 a) List of Related Parties (As identified by the Management)

i) Enterprises owned or significantly influenced by key management personnel or their relatives Orient Syntex (Prop. APM Industries Limited), Essvee Fiscal Pvt. Ltd., AJR Fiscal Pvt. Ltd., Rajgarhia Leasing & Financial Services Pvt. Ltd., Faridabad Paper Mills Ltd. RKR Foundation, Sanjay Rajgarhia & Son (HUF).

ii) Key Management Personnel and their Relatives Directors-Shri Sanjay Rajgarhia, Shri R. K. Rajgarhia. Smt. Pooja Rajgarhia.

Note : In respect ot above parties there is no provision for doubtful debts as on 31.03.2012 and no amount has been written off or written back during the year in respect of debts due from/to them.

7. As per Accounting Standard (AS)-17, "Segment Reproting" the Company's business segment is packaging. As this is the only segment no separate disclosure of segment wise information is made.

8. Figurest of Previous year have been regrouped and/or re-arranged wherever found necessary . Figures in brackets above are in respect of previous year

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Mar 31, 2011

1. Estimated amount of outstanding capital commitments not provided for Rs.20.80 Lacs (Rs. NIL Lacs) (net of advances.)

2. Contingent Liabilities not provided for in respect of:-

a) Interest of Rs.1.83 lacs (Rs.1.83 Lacs) on Local Area Development Tax recovery of which is stayed by Supreme Court of India.

b) ESIC demand Rs.3.09 lacs (Rs.3.09 lacs)excluding interest. Paid under protest Rs.1.54 lacs (Rs.1.54 lacs) being contested in appeal.

3. Some of the Sundry Debtors, Advances including Deposits and Current Liabilities are subject to confirmation/ reconciliation.

4. In the opinion of the Management Current Assets, Loans and Advances other than shown doubtful have a value on realisation in the ordinary course of business at least equal to the amount at which they are stated in the Balance Sheet.

5. The company has paid/provided remuneration of Rs. 64,510 (Rs NIL) to a relative of a director Which is subject to the approval of shareholders in the forthcoming annual general meeting.

6. Advances (Schedule-7) include amounts of Rs. 1.92 Lacs (Rs. 1.92 Lacs) paid against demand raised by Sales Tax Authority which the company is contesting. The above payments will be charged to Profit & Loss Account on the decision by Appellate Authority.

7. Profit/loss on sale of raw materials and stores & spares etc stand adjusted in their consumption Accounts.

8. The company has taken factory land/godown & office under cancellable operating lease agreements. The lease agreements are usually renewed by mutual consent on mutually agreeable terms. Total rental expenses under such lease Rs. 36,000 (Rs. 36,000).

9. Related Party Disclosures under Accounting Standard-18.

a) List of Related Parties (As identified by the Management)

i) Enterprises owned or significantly influenced by key management personnel or their relatives :- Orient Syntex (Prop.APM Industries Limited), Essvee Fiscal Pvt. Ltd., AJR Fiscal Pvt. Ltd., Rajgarhia Leasing & Financial Services Pvt. Ltd., Faridabad Paper Mills Ltd. RKR Foundation, Sanjay Rajgarhia & Son (HUF).

ii) Key Management Personnel and their Relatives:- Directors-Shri Sanjay Rajgarhia, Shri R.K. Rajgarhia, Smt. Pooja Rajgarhia.

b) Transactions with Related Parties

Note: In respect of above parties there is no provision for doubtful debts as on 31.03.2011 and no amount has been written off or written back during the year in respect of debts due from/to them.

10. As per Accounting Standard-17, "Segment Reporting" the Company's business segment is packaging. As this is the only segment no separate disclosure of segment wise information is made.

11. Figures of Previous Year have been regrouped and/ or re-arranged wherever found necessary to conform to this year's classification. In the schedules the same are appearing in brackets.

12. Schedules 1 to 15 form an integral part of the Balance Sheet and Profit & Loss Account and have been duly authenticated.

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Mar 31, 2010

1. Estimated amount of outstanding capital commitments not provided for Rs. NIL Lacs (Rs. 13.56 Lacs) (net of advances.)

2. Contingent Liabilities not provided for in respect of:-

a) Interest of Rs. 1.83 lacs (Rs. 1.83 Lacs) on Local Area Development Tax recovery of which is stayed by Supreme Court of India.

b) ESIC demand Rs.3.09 lacs(Rs.3.09 lacs) excluding interest paid under protest Rs. 1.54 lacs (Rs 1.54 lacs) being contested in appeal

c) Letters of credit outstanding Rs.24.69 lacs (Nil).

3. Some of the Sundry Debtors, Advances including Deposits and Current Liabilities are subject to confirmation/ reconciliation.

4. in the opinion of the Management Current Assets, Loans and Advances other than shown doubtful have a value on realisation in the ordinary course of business at least equal to the amount at which they are stated in the Balance Sheet.

5) Advances (Schedule-7) include amounts of Rs. 1.92 Lacs (Rs. 2.14 Lacs) paid against demand raised by Sales Tax Authority which the company is contesting. The above payments will be charged to Profit & Loss Account on the decision by Appellate Authority.

6. Profit/loss on sale of raw materials and stores & spares etc stand adjusted in their consumption Accounts.

7. The company has taken factory land/godown & office under cancellable operating lease agreements. The lease agreements are usually renewed by mutual consent on mutually agreeable terms. Total rental expenses under such lease Rs. 2,23,066 (9,53,286).

8. Related Party Disclosures under Accounting Standard-18.

a) List of Related Parties (As identified by the Management)

i) Enterprises owned or significantly influenced by key management personnel or their relatives :- Orient Syntex (Prop.APM Industries Limited), Essvee Fiscal Pvt. Ltd., AJR Fiscal Pvt. Ltd., Rajgarhia Leasing & Financial Services Pvt. Ltd., Faridabad Paper Mills Ltd. RKR Foundation, Sanjay Rajgarhia & Son (HUF).

ii) Key Management Personnel and their Relatives:- Directors-Shri Sanjay Rajgarhia, Shri R.K. Rajgarhia.

9. As per Accounting Standard-17, "Segment Reporting" the Companys business segment is packaging. As this is the only segment no separate disclosure of segment wise information is made.

10. Figures of Previous Year have been regrouped and/ or re-arranged wherever found necessary to conform to this years classification. In the schedules the same are appearing in brackets.

11. Schedules 1 to 15 form an integral part of the Balance Sheet and Profit & Loss Account and have been duly authenticated.