Notes to Accounts of Polytex India Ltd.

Mar 31, 2024

(X) Provisions and contingent liabilities

The Company creates a provision when there is present obligation as a result of
a past event that probably requires an outflow of resources and a reliable
estimate can be made of the amount of the obligation.

A disclosure for a contingent liability is made when there is a possible obligation
or a present obligation that may, but probably will not, require an outflow of
resources. The Company also discloses present obligations for which a reliable
estimate cannot be made. When there is a possible obligation or a present
obligation in respect of which the likelihood of outflow of resources is remote,
no provision or disclosure is made.

(XI) Foreign currency translation Initial recognition

Foreign currency transactions are recorded in the reporting currency, by
applying to the foreign currency amount the exchange rate between the
reporting currency and the foreign currency at the date of the transaction.

Conversion

Foreign currency monetary items are re-translated using the exchange rate
prevailing at the reporting date. Non- monetary items, which are measured in
terms of historical cost denominated in a foreign currency, are reported using
the exchange rate at the date of the transaction.

Exchange differences

All exchange differences are accounted in the Statement of Profit and Loss.

(XII) Segment Reporting:

The company operates mainly in the business of lending finance, accordingly
there are no separate reportable segment as per Ind-AS 108-Operating Segment.

(XIII) Retirement and other employee benefits

(i) Gratuity

Payment for present liability of future payment of gratuity no provision
created due to there is no employee in the company he is completed 5
years.

(ii) Superannuation

The company has not made any defined contribution to superannuation
fund.

(iii) Provident fund

The company has not provided provident funds to its employees.

(iv) Compensated absences

At Privilege leave entitlements are recognised as a liability as per the
rules of the Company. The liability for accumulated leaves which can
be availed and/or encashed at any time during the tenure of employment.
The liability for accumulated leaves which is eligible for encashment
within the same calendar year is provided for at prevailing salary rate
for the entire unavailed leave balance as at the Balance Sheet date. But
company not having any employee who is having accumulated leaves.

(XIV) Employee Stock Option Scheme

The Company has not provided employee stock options to its employees.

(XV) Leases

The Company has not any leases hence Ind AS 116 is not applicable to the
company.

Measurement of Lease Liability

At the time of initial recognition, the Company measures lease liability as
present value of all lease payments discounted using the Company’s
incremental cost of borrowing and directly attributable costs. Subsequently, the
lease liability is -

i. increased by interest on lease liability;

ii. reduced by lease payments made; and

iii. remeasured to reflect any reassessment or lease modifications specified
in Ind AS 116 ‘Leases’, or to reflect revised fixed lease payments.

Measurement of Right-of-use assets

At the time of initial recognition, the Company measures ‘Right-of-use assets’
as present value of all lease payments discounted using the Company’s
incremental cost of borrowing w.r.t said lease contract. Subsequently, ‘Right-
of-use assets’ is measured using cost model i.e. at cost less any accumulated

depreciation and any accumulated impairment losses adjusted for any
remeasurement of the lease liability specified in Ind AS 116 ‘Leases’.

Depreciation on ‘Right-of-use assets’ is provided on straight line basis over the
lease period.

The exception permitted in Ind AS 116 for low value assets and short-term
leases has been adopted by Company.

(XVI) Fair value measurement

The Company measures its qualifying financial instruments at fair value on each
Balance Sheet date.

Fair value is the price that would be received against sale of an asset or paid to
transfer a liability in an orderly transaction between market participants at the
measurement date. The fair value measurement is based on the presumption that
the transaction to sell the asset or transfer the liability takes place in the
accessible principal market or the most advantageous accessible market as
applicable.

The Company uses valuation techniques that are appropriate in the
circumstances and for which sufficient data is available to measure fair value,
maximising the use of relevant observable inputs and minimising the use of
unobservable inputs.

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

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Mar 31, 2015

1. The Company has only one class of shares referred to as equity shares having a par value of Rs. 10/-. Each holder of equity shares is entitled to one vote per share.

2. "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."" The reconciliation of the number of shares outstanding and the amount of share capital as at March 31, 2015 and March 31, 2014 is set out below:-

3. RELATED PARTY DISCLOSURES

a) List of Related Parties & Relationship:-

i. Holding Company :-

Nil

ii. Associate/Enterprises where control/significant influence exists :-

Anugrah Stock & Broking Pvt. Ltd.

Anugrah Commodities Pvt. Ltd.

Wagad Fincap Ltd.

Anugrah Realty Developers Pvt. Ltd.

Anugrah Holidays Pvt. Ltd.

Anugrah Portfolio Advisors Pvt. Ltd.

Anugrah Insurance Brokers Pvt. Ltd.

Ruchi Food Plaza Pvt. Ltd.

Dream Heritage Pvt. Ltd.

W W Technoloy Holdings Ltd.

Rapid Credits & Mercantiles Pvt. Ltd.

iii. Key Management Personnel (KMP) :-

Arvind Mulji Kariya Whole Time Director

Paresh Mulji Kariya Whole Time Director

Reshma Pujari Company Secretary

iv. Relatives of KMP :-Jigna Arvind Kariya Sadhana Paresh Kariya Paresh M. Kariya (HUF)

Arvind Mulji Kariya (HUF)

Note: Figures in bracket relates to the previous year

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

There are no dues outstanding to Micro and Small Enterprises.

5. Previous Year Figures

The Revised Schedule VI has become effective from 1 April, 2011 for the preparation of financial statements. This has significantly impacted the disclosure and presentation made in the financial statements. Previous year's figures have been regrouped / reclassified wherever necessary to correspond with the current year's classification / disclosure.

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Mar 31, 2014

The Company has only one class of shares referred to as equity shares having a par value of Rs. 10/-. 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 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.

1. 1 SEGMENT REPORTING

"The company operates in a single line of business & also in a single geographic environment within India, Hence there is no reportable segment information with respect to provision of Accounting Standard 17 "Segment Reporting".

1. 2 RELATED PARTY DISCLOSURES a) List of Related Parties & Relationship:-

i. Holding Company :-

Nil

ii. Associate/Enterprises where control/significant influence exists :-

Anugrah Stock & Broking Pvt. Ltd.

Anugrah Commodities Pvt. Ltd.

Wagad Fincap Ltd.

Anugrah Realty Developers Pvt. Ltd.

Anugrah Holidays Pvt. Ltd.

Anugrah Portfolio Advisors Pvt. Ltd.

The Company has only one class of shares referred to as equity shares having a par value of Rs. 10/-. 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 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.

2.1 SEGMENT REPORTING

"The company operates in a single line of business & also in a single geographic environment within India, Hence there is no reportable segment information with respect to provision of Accounting Standard 17 "Segment Reporting".

2. 2 RELATED PARTY DISCLOSURES a) List of Related Parties & Relationship:-

i. Holding Company :-

Nil

ii. Associate/Enterprises where control/significant influence exists :-

Anugrah Stock & Broking Pvt. Ltd.

Anugrah Commodities Pvt. Ltd.

Wagad Fincap Ltd.

Anugrah Realty Developers Pvt. Ltd.

Anugrah Holidays Pvt. Ltd.

Anugrah Portfolio Advisors Pvt. Ltd.

Anugrah Insurance Brokers Pvt. Ltd.

Ruchi Food Plaza Pvt. Ltd.

Dream Heritage Pvt. Ltd.

Rapid Credits & Mercantiles Pvt. Ltd.

iii. Key Management Personnel (KMP) :-

Arvind Mulji Kariya Paresh Mulji Kariya

iv. Relatives of KMP :-

Jigna Arvind Kariya Sadhana Paresh Kariya Paresh M. Kariya (HUF)

Arvind Mulji Kariya (HUF)

Note: Figures in bracket relates to the previous year

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

There are no dues outstanding to Micro and Small Enterprises.

2.4 Previous Year Figures

The Revised Schedule VI has become effective from 1 April, 2011 for the preparation of financial statements. This has significantly impacted the disclosure and presentation made in the financial statements. Previous year''s figures have been regrouped / reclassified wherever necessary to correspond with the current year''s classification / disclosure.

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Mar 31, 2013

1.1 SEGMENT REPORTING

The company operates in a single line of business & also in a single geographic environment within India, Hence there is no. reportable segment information with respect to provision of Accounting Standard 17 "Segment Reporting".

Company does not have any potential dilutive equity shares, hence dilutive earning per share is same as earning per share

1.2 RELATED PARTY DISCLOSURES

a) List of Related Parties & Relationship:-

i. Holding Company

Nil

ii. Associate/Enterprises where control/significant influence exists

Anugrah Stock & Broking Pvt. Ltd.

Anugrah Commodities Pvt. Ltd.

Wagad Fincap Ltd.

Anugrah Realty Developers Pvt. Ltd.

Anugrah Holidays Pvt. Ltd.

Anugrah Portfolio Advisors Pvt. Ltd.

Anugrah Insurance Brokers Pvt. Ltd.

Ruchi Food Plaza Pvt. Ltd.

Dream Heritage Pvt. Ltd.

Rapid Credits & Mercantiles Pvt. Ltd.

iii. Key Management Personnel (KMP)

Arvind Mulji Kariya Paresh Mulji Kariya

iv. Relatives of KMP

Jigna Arvind Kariya Sadhana Paresh Kariya Paresh M. Kariya (HUF)

Arvind Mulji Kariya (HUF)

Note: Figures in bracket relates to the previous year

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

There are no dues outstanding to Micro and Small Enterprises.

1.4 Previous Year Figures

The Revised Schedule VI has become effective from 1 April, 2011 for the preparation of financial statements. This has significantly impacted the disclosure and presentation made in the financial statements. Previous year''s figures have been regrouped / reclassified wherever necessary to correspond with the current year''s classification / disclosure.

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Mar 31, 2012

1.1 SEGMENT REPORTING

The company operates in a single line of business & also in a single geographic environment within India, Hence there is no reportable segment information with respect to provision of Accounting Standard 17 "Segment Reporting".

Company does not have any potential dilutive equity shares, hence dilutive earning per share is same as earning per share

Note: Figures in bracket relates to the previous year

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

There are no dues outstanding to Micro and Small Enterprises.

1.3 Previous Year Figures

The Revised Schedule VI has become effective from 1 April, 2011 for the preparation of financial statements. This has significantly impacted the disclosure and presentation made in the financial statements. Previous year's figures have been regrouped / reclassified wherever necessary to correspond with the current year's classification / disclosure.

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Mar 31, 2010

1 During the year, the Company has issued 1,20,00,000 Preferential Convertible Warrants of Rs. 10/- at Par to the Promoters and the outsiders and has converted and alloted 89,10,000 shares against such warrants and has raised money to the tune of Rs. 968.25 Lacs.

2. Details required pursuant to Para 3 & 4 of Part II of Schedule VI to the Companies Act, 1956 :

Since the Company is not in the business of manufacturing, the provisions regarding licensed and installed capacity, as well as production and raw materials consumed are not applicable.

3. The Company is engaged in financial & dealing in shares/ units and all activities of the Company revolve around this business. As such there is only one business segment and geographical segment and, therefore, the segment information as per Accounting Standard 17 on "Segment Reporting" is not provided by the Company.

4 Debtors, Creditors and Loans & Advances are subject to Confirmation. All the Debtors are unsecured and considered good

5 FOREIGN CURRENCY TRANSACTIONS NIL

6 Expenditure in Foreign Currency NIL

7 Disclosure as required by Accounting Standard 18 (AS - 181 "Related Party Disclosures" issued bv The Institute of Chartered Accountants of India are as follows:

(a) Other related parties (where no transactions have taken place during the year):

(i) Associates

Anugrah Stock & Broking Pvt. Ltd.

Anugrah Portfolio Advisors Pvt. Ltd.

Anugrah Insurance Brokers Pvt. Ltd.

Anugrah Realty Developers Pvt. Ltd.

Anugrah Commodities Pvt. Ltd.

Lakshya Trading & Agencies Pvt. Ltd.

Rapid Credits & Mercantiles Pvt. Ltd.

Wagad Fincap Ltd.

Anugrah Holidays Pvt. Ltd.

Ruchi Food Plaza Pvt. Ltd.

Arvind Mulji Kariya (HUF)

Paresh Mulji Kariya (HUF) ~

(b) Key Management Personnel & relatives:

Mr. Arvind Mulji Kariya (w.e.f. 31st January, 2008)

Mr. Paresh Mulji Kariya (w.e.f. 31st January, 2008)

Mrs. Jigna Arvind Kariya

Mrs. Sadhana Paresh Kariya

8 Previous Years figures have been regrouped/rearranged, wherever necessary, so as to make them comparable with current years figures.

9 Other information required under Part I and Part II of Schedule VI to the Companies Act, 1956 is either Nil or Not Applicable.