Notes to Accounts of Premier Energy and Infrastructure Ltd.

Mar 31, 2025

3.13 Provisions and Contingencies

A provision is recognized when an enterprise has a present obligation as a result of past event and it is probable
that an outflow of resources will be required to settle the obligation, in respect of which a reliable estimate can
be made. Provisions are not discounted to its present value and are determined based on best estimate of
amounts required to settle the obligation at the balance sheet date. These are reviewed at each balance sheet
date and adjusted to reflect the current best estimates.

A contingent liability is a possible obligation that arises from past events whose existence will be confirmed by
the occurrence or non-occurrence of one or more uncertain future events beyond the control of Company or
present obligation that is not recognized because it is not probable that an outflow of resources will be required
to settle the obligation. A contingent liability also arises in extreme rare cases where there is a liability that
cannot be recognized because it cannot be measured reliably. The Company does not recognise a contingent
liability but discloses its existence in the financial statements.

3.14 Leases

Company as a Lessee (IND AS 116)

Lease of assets, where the Company, as a lessee, has substantially assumed all the risks and rewards of
ownership are recognised as Leases for all leases above 12 months, unless the underlying asset is of low value.
Assets classified are capitalised and depreciated as per Company’s policy on Property, Plant and Equipment.
The corresponding lease rental obligations, net of finance charges, are included in borrowings or other financial
liabilities as appropriate. Each lease payment is allocated between the liability and finance cost. The finance
cost is charged to the Statement of Profit and Loss over the lease period so as to produce a constant periodic
rate of interest on the remaining balance of the liability for each year.

3.15 Segmental Reporting:

The company carries out business operations only in one business segment viz. infrastructure and hence
segmental reporting does not arise.

3.16 Earnings per Share

The Company presents basic and diluted earnings per share data for its equity shares. Basic and diluted
earnings per share is calculated by dividing the profit or loss attributable to owners of the equity shares of the
Holding Company by the weighted average number of equity shares outstanding during the year.

3.17 Financial instruments
Financial assets

The Company classifies its financial assets in the following categories:

i) Financial assets at amortised cost- Assets that are held for collection of contractual cash flows where
those cash flows represent solely payments of principal and interest are measured at amortised cost.

These are presented as current assets, except for those maturing later than 12 months after the reporting
date which are presented as noncurrent assets. Financial assets are measured initially at fair value which
usually represents cost plus transaction costs and subsequently, if maturing after 12 month period, carried
at amortised cost using the effective interest method, less any impairment loss.

Financial assets at amortised cost are represented by trade receivables, security and other deposits, cash
and cash equivalent, employee and other advances.

ii) Financial Assets at Fair Value through Other Comprehensive Income (FVTOCI) - All equity investments
are measured at fair values. Investments which are not held for trading purposes and where the Company
has exercised the option to classify the investment as at FVTOCI, all fair value changes on the investment
are recognised in Other Comprehensive Income (OCI). The accumulated gains or losses are recognised
in OCI are reclassified to retained earnings on sale of such investment.

iii) Financial assets at Fair Value through Profit and loss (FVTPL) - Financial assets which are not classified
in any of the categories above measured at FVTPL. These include surplus funds invested in mutual funds
etc.

iv) Impairment of financial assets - The Company assesses expected credit losses associated with its assets
carried at amortised cost and fair value through other comprehensive income based on Company’s past
history of recovery, credit-worthiness of the counter party and existing market conditions. The impairment
methodology applied depends on whether there has been a significant increase in credit risk. For trade
receivables, the Company applies the simplified approach for recognition of impairment allowance as
provided in Ind AS 109 - Financial Instruments, which requires expected lifetime losses to be recognised
on initial recognition of the receivables.

3.18 Financial liabilities and equity instruments

3.18.1 Initial recognition and measurement

All financial liabilities are recognised initially at fair value and in case of loans and borrowings net of directly
attributable costs.

Financial liabilities are subsequently measured at amortised cost using effective interest method. For trade and
other payable maturing within one year from the balance sheet date, the carrying value approximates fair value
due to short maturity of these investments.

3.18.2 Classification as debt or equity

Debt and equity instruments issued by a Group entity are classified as either financial liabilities or as equity in
accordance with the substance of the contractual arrangements and the definitions of a financial liability and an
equity instrument.

3.18.3 Equity instruments

An equity instrument is any contract that evidences a residual interest in the assets of an entity after deducting
all of its liabilities. Equity instruments issued by a group entity are recognised at the proceeds received, net of
direct issue costs.

Repurchase of the Company’s own equity instruments is recognised and deducted directly in equity. No gain
or loss is recognised in profit or loss on the purchase, sale, issue or cancellation of the Company’s own equity
instruments.

3.18.4 Financial liabilities

All financial liabilities are subsequently measured at amortised cost using the effective interest method or at
FVTPL.

However, financial liabilities that arise when a transfer of a financial asset does not qualify for derecognition
or when the continuing involvement approach applies, financial guarantee contracts issued by the Group,
and commitments issued by the Company to provide a loan at below-market interest rate are measured in
accordance with the specific accounting policies set out below.

3.18.5 Financial liabilities at FVTPL

Financial liabilities are classified as at FVTPL when the financial liability is either contingent consideration
recognised by the Group as an acquirer in a business combination to which Ind AS 103 applies or is held for
trading or it is designated as at FVTPL.

A financial liability is classified as held for trading if:

• it has been incurred principally for the purpose of repurchasing it in the near term; or

• on initial recognition it is part of a portfolio of identified financial instruments that the Group manages
together and has a recent actual pattern of short-term profit-taking; or

• it is a derivative that is not designated and effective as a hedging instrument.

A financial liability other than a financial liability held for trading or contingent consideration recognised by the
Group as an acquirer in a business combination to which Ind AS 103 applies, may be designated as at FVTPL
upon initial recognition if:

• such designation eliminates or significantly reduces a measurement or recognition inconsistency that
would otherwise arise;

• the financial liability forms part of a Group of financial assets or financial liabilities or both, which is managed
and its performance is evaluated on a fair value basis, in accordance with the Group''s documented risk
management or investment strategy, and information about the Companying is provided internally on that
basis; or

• it forms part of a contract containing one or more embedded derivatives, and Ind AS 109 permits the entire
combined contract to be designated as at FVTPL in accordance with Ind AS 109.

Financial liabilities at FVTPL are stated at fair value, with any gains or losses arising on remeasurement
recognised in profit or loss. The net gain or loss recognised in profit or loss incorporates any interest paid on
the financial liability and is included in the ‘Other income'' line item.

However, for non-held-for-trading financial liabilities that are designated as at FVTPL, the amount of change in
the fair value of the financial liability that is attributable to changes in the credit risk of that liability is recognised
in other comprehensive income, unless the recognition of the effects of changes in the liability’s credit risk in
other comprehensive income would create or enlarge an accounting mismatch in profit or loss, in which case
these effects of changes in credit risk are recognised in profit or loss. The remaining amount of change in
the fair value of liability is always recognised in profit or loss. Changes in fair value attributable to a financial
liability’s credit risk that are recognised in other comprehensive income are reflected immediately in retained
earnings and are not subsequently reclassified to profit or loss.

Gains or losses on financial guarantee contracts and loan commitments issued by the Company that are
designated by the Company as at fair value through profit or loss are recognised in profit or loss.

3.19 Statement of cash flows

Statement of Cash flows is prepared under Ind AS 7 ‘Statement of Cashflows’ specified under Section 133 of
the Act. Cash flows are reported using the indirect method, whereby profit / (loss) before tax and is adjusted for
the effects of transactions of non-cash nature.

Significant management judgement in applying accounting policies and estimation uncertainty.

The preparation of the Company’s financial statements requires management to make judgements, estimates
and assumptions that affect the reported amounts of revenues, expenses, assets and liabilities and the related
disclosures.

25 Employee benefit plans
Defined Benefit plans

The Company’s gratuity scheme is a defined benefit plan. The present value of obligation as at the end of the
financial year is determined based on actuarial valuation using the Projected Unit Credit method, which recignises
each period of service as giving rise to additional unit of employee benefit entitlement and measures each unit
separately to build up the final obligation. The obligation for leave encashment as at the end of the financial year is
also recognised in the same manner as gratuity.

27 Contingent Liability

a) The Company has pledged part of its investment of 91,74,860 Equity shares of Haldia Coke and Chemicals
Private Limited with a lender for moneys borrowed by the above company. The liability, if any, that may arise
on account of the pledge is not quantifiable.

b) Income Tax Demand on Appeal: Assessment Year 2015-16 the assessment was completed with a demand
of Rs. 5,21,10,390. For the Assessment Year 2017-18 the assessment was completed with a demand of
Rs. 2,13,16,410/. The company has preferred an appeal with the Commissioner of Income Tax, Chennai and
based on advise by its consultants, it does not foresee any material liability on account of the above demand
raised by the Income Tax Department.

28 Details of dues to Micro,Small and Medium enterprises as defined under the MSMED Act, 2006

The Identification of Micro,Small and Medium Enterprises Suppliers as defined under “The Micro,Small and Medium
Enterprises development Act 2006” is based on the Information available with the management.As certified by
the Management, the amounts overdue as on 31st March 2025 (31st March 2024) to Micro, Small and Medium
Enterprises on account of principal amount together with interest, aggregate to Rs. Nil (Rs.Nil).

29 Installed capacity, Licensed capacity and Capacity utilisation

Particulars relating to Installed capacity, Licensed capacity an Capacity Utilisation are not applicable.

30 Segment Information

As the Company operates in a single business segment (i.e.) Development and Maintenance of facilities, segmental
reporting is not provided.

31 Operating Leases

The Holding Company has its office premises under operating lease arrangement which is cancellable at the option
of the Company, by providing 3 months prior notice.

32 Going Concern

Though the Company’s Current Liabilities exceeded its net realisable Current Assets by Rs. 3686.48 lacs, it does not
affect the plans of the company as the major liabilities in this are support from the Promoter / Associate Companies
with no immediate pressure for repayment and all outside loans / liabilities are either settled or transferred to Group
companies for settlement. The suspension of Trading in Equity Shares of the company was revoked by BSE and as
also the company has entered into an MOU with Dismutase Biotech Private Limited who have a Project to extract
proteins from Blood Plasma and the Company has other plans to inorganically grow the Company by Merger/
Acquisition going forward. Considering these and the financial commitment of the promoter group, the company is a
“Going Concern.” Hence the financial statements have been prepared as a “Going Concern”.

33 Fair value Measurements

Fair value of the financial instruments is classified in various fair value hierarchies based on the following
three levels:

Level 1: Quoted prices (unadjusted) in active market for identical assets or liabilities.

Level 2: Inputs other than quoted price included within level 1 that are observable for the asset or liability, either
directly.

Level 3: Inputs for the assets or liabilities that are not based on observable market data (unobservable inputs).

The fair value of current trade receivables, current trade payables and other Current financial assets and liabilities
is considered to be equal to the carrying amounts of these items due to their shortterm nature.

33.2 Financial instrument measured at amortised cost

The carrying amount of financial assets and financial liabilities measured at amortised cost in the financial statements
are a reasonable approximation of their face values since the Company does not anticipate that the carrying cost
would be significantly different from the values that would eventualy be received or settled.

33.3 Financial risk management - objectives and policies

The Company has a well- managed risk management framework, anchored to policies and procedures and internal
financial controls aimed at ensuring early identification, evaluation and management of key financial risks (such
as liquidity risk, market risk, credit risk and foreign currency risk) that may arise as a consequence of its business
operations as well as its investing and financing activities. Accordingly, the Company’s risk management framework
has the objective of ensuring that such risks are managed within acceptable risk parameters in a disciplined and
consistent manner and in compliance with applicable regulation.

1. Market risk

Market risk is a risk that the fair value of future cash flows of a financial instrument will fluctuate because of
changes in market prices. The Company is exposed to market risk through its use of financial instruments and
specifically tointerest rate risk, which result from both its operating and investing activities.

Interest Rate Risk

The Company’s main interest rate risk arised from long term and short term borrowings with variable rates,
which expose the Company to cash flow interest rate risk. During March 31,2021 and March 31,2020, the
exposure of Company’s borrowings to interest rate changes are as follows:

2. Liquidity Risk

Liquidity risk is the risk that the Company will encounter due to difficulty in raising funds to meet commitments
associated with financial instruments that are settled by delivering cash oranother financial asset. Liquidity risk
may result from an inability to sell a financial asset quickly at close to its fair value.

The company has sound financial strength represented by its aggregate current assets as against aggregate
current liabilities and its strong equity base and lower working capital debt.

3. Credit Risk

Credit risk refers to risk that a counterparty will default on its contractual obligations resulting in financial loss to
the Company Credit risk arises primarily from financial assets such as trade receivables, other balances with
banks and other receivables.

Credit risk arising from balances with banks is limited because the counterparties are banks with high credit
ratings.

All other financials assets including those past due for each reporting date are of good credit quality.

33.4 Capital management

For the purpose of the Company’s capital management, capital includes issued share capital and all other equity
reserves attributable to the equity shareholders of the Company. The primary objective of the Company when
managing capital is to safeguard its ability to continue as a going concern and to maintain an optimal capital structure
so as to maximize shareholder value.

The company has not distibuted any dividend to its shareholders. The company monitors net debt to capital ratio i.e.,
total debt in proportion to its overall financing structure i.e., equity and debt. Total debt comprises of term loans and
cash credits. The company manages its capital structure and makes changes to it in the light of changes in economic
conditions and the risk characteristics of the underlying assets.

34 Recent Pronouncements

There are no standards of accounting or any addendum thereto, prescribed by Ministry of Corporate Affairs under
section 133 of the Companies Act, 2013, which are issued and not effective as at March 31, 2025.

35 Corporate social responsibility (CSR)

The company has not crossed the threshold limit for applicability of CSR, hence the company is not required to have
CSR commitee and has not incurred any expenditure towards the same.

36 Ratio

The ratios for the years ended March 31,2025 and March 31, 2024 are as follows:

37 Other Statutory Information :

Details of benami property held -

No proceedings have been initiated on or are pending against the company for holding benami property under the
Benami Transactions (Prohibition) Act, 1988 (45 of 1988) and Rules made thereunder.

Utilisation of borrowed funds

The company did not obtain any secured borrowing and overdraft facilities during the year.

Borrowing secured against current assets

The company did not obtain any secured borrowing and overdraft facilities during the year.

Wilful defaulter

Company have not been declared wilful defaulter by any bank or financial institution or government or any
government authority.

Relationship with struck off companies

The company has no transactions with the companies struck off under Companies Act, 2013 or Companies Act,
1956.

Compliance with number of layers of companies

The has no subsidiaries accordingly reporting under the Companies (restriction on number of layers) rules 2017 is
not applicable.

Compliance with approved scheme(s) of arrangements

The company currently does not have any approved/pending scheme of amalgamation or arrangements, accordingly
reporting under clause is not applicable.

Undisclosed income

There is no income surrendered or disclosed as income during the current or previous year in the tax assessments
under the Income Tax Act, 1961, that has not been recorded in the books of account.

Details of crypto currency or virtual currency

The company has not traded or invested in crypto currency or virtual currency during the current or previous year.
Registration or satisfaction of charges with ROC

The Company does not have any charges or satisfaction which is yet to be registered with ROC beyond the statutory
period.

38 Events after the reporting period

There has been no significant subsequent events after the reporting period requiring either disclosure or adjustment
to the reported financial statements.

39 Previous years figures

Previous year''s figures have been regrouped and reclassified where necessary to confoirm to this year’s classification.

During the year, the company has reworded its Significant Accounting Policies and there is no change in Accounting
Policies from last year. Accounting Policies were reworded for better presentation.

In terms of our report attached. For and on behalf of the Board of Directors

for R Sundarrajan and Associates

Chartered Accountants
Firm Registration N0. 008282S

C A Narasimma Raghavan R M Narayanamurthi R Swaminathan Iyer

Partner Managing Director Director

M.No. 211700 DIN: 00332455 DIN: 02052310

Place : Chennai A Sriram A. V. Ramalingam

Date : May 27, 2025 Chief Financial Officer Company Secretary

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Mar 31, 2024

26 Employee benefit plans Defined Benefit plans

The Company’s gratuity scheme is a defined benefit plan. The present value of obligation as at the end of the financial year is determined based on actuarial valuation using the Projected Unit Credit method, which recignises each period of service as giving rise to additional unit of employee benefit entitlement and measures each unit separately to build up the final obligation. The obligation for leave encashment as at the end of the financial year is also recognised in the same manner as gratuity.

28 Contingent Liability

a) The Company has pledged part of its investment of 91,74,860 Equity shares of Haldia Coke and Chemicals Private Limited with a lender for moneys borrowed by the above company. The liability, if any, that may arise on account of the pledge is not quantifiable.

b) Income Tax Demand on Appeal: Assessment Year 2015-16 the assessment was completed with a demand of Rs. 5,21,10,390. For the Assessment Year 2017-18 the assessment was completed with a demand of Rs. 2,13,16,410/. The company has preferred an appeal with the Commissioner of Income Tax, Chennai and based on advise by its consultants, it does not foresee any material liability on account of the above demand raised by the Income Tax Department.

29 Details of dues to Micro,Small and Medium enterprises as defined under the MSMED Act, 2006

The Identification of Micro,Small and Medium Enterprises Suppliers as defined under “The Micro,Small and Medium Enterprises development Act 2006” is based on the Information available with the management. As certified by the Management, the amounts overdue as on 31st March 2021 (31st March 2020) to Micro, Small and Medium Enterprises on account of principal amount together with interest, aggregate to Rs. Nil (Rs.Nil).

30 Installed capacity, Licensed capacity and Capacity utilisation

Particulars relating to Installed capacity, Licensed capacity an Capacity Utilisation are not applicable.

31 Segment Information

As the Company operates in a single business segment (i.e.) Development and Maintenance of facilities, segmental reporting is not provided.

32 Operating Leases

The Holding Company has its office premises under operating lease arrangement which is cancellable at the option of the Company, by providing 3 months prior notice.

33 Going Concern

Though the company’s current liabilities exceeded its net realisable current assets, fhe company is in the process of relisting the shares in BSE for which necessary application has been submitted to BSE for restoration of trading. The company is looking for new business opportunities, including promoting low-cost housing projects, which will be finalised in the year 2024-25. Considering these and financial commitment of the promoter group, the management has prepared the financial statements by applying the “Going Concern” assumption.

34 Based on the order of the Special Appellate Tribunal (SAT) for relisting of the company, BSE has reclasified the shares from Delisted Catagory to Suspended category The company has submitted application for Revocation of suspension and is awaiting orders from BSE for removal of Suspension in trading in shares.

35 Fair value Measurements

Fair value of the financial instruments is classified in various fair value hierarchies based on the following three levels:

Level 1: Quoted prices (unadjusted) in active market for identical assets or liabilities.

Level 2: Inputs other than quoted price included within level 1 that are observable for the asset or liability, either directly.

Level 3: Inputs for the assets or liabilities that are not based on observable market data (unobservable inputs).

The fair value of current trade receivables, current trade payables and other Current financial assets and liabilities is considered to be equal to the carrying amounts of these items due to their shortterm nature.

35.2 Financial instrument measured at amortised cost

The carrying amount of financial assets and financial liabilities measured at amortised cost in the financial statements are a reasonable approximation of their face values since the Company does not anticipate that the carrying cost would be significantly different from the values that would eventualy be received or settled.

35.3 Financial risk management - objectives and policies

The Company has a well- managed risk management framework, anchored to policies and procedures and internal financial controls aimed at ensuring early identification, evaluation and management of key financial risks (such as liquidity risk, market risk, credit risk and foreign currency risk) that may arise as a consequence of its business operations as well as its investing and financing activities. Accordingly, the Company’s risk management framework has the objective of ensuring that such risks are managed within acceptable risk parameters in a disciplined and consistent manner and in compliance with applicable regulation.

1. Market risk

Market risk is a risk that the fair value of future cash flows of a financial instrument will fluctuate because of changes in market prices. The Company is exposed to market risk through its use of financial instruments and specifically tointerest rate risk, which result from both its operating and investing activities.

Interest Rate Risk

The Company’s main interest rate risk arised from long term and short term borrowings with variable rates, which expose the Company to cash flow interest rate risk. During March 31,2021 and March 31,2020, the exposure of Company’s borrowings to interest rate changes are as follows:

2. Liquidity Risk

Liquidity risk is the risk that the Company will encounter due to difficulty in raising funds to meet commitments associated with financial instruments that are settled by delivering cash oranother financial asset. Liquidity risk may result from an inability to sell a financial asset quickly at close to its fair value.

The company has sound financial strength represented by its aggregate current assets as against aggregate current liabilities and its strong equity base and lower working capital debt.

3. Credit Risk

Credit risk refers to risk that a counterparty will default on its contractual obligations resulting in financial loss to the Company Credit risk arises primarily from financial assets such as trade receivables, other balances with banks and other receivables.

Credit risk arising from balances with banks is limited because the counterparties are banks with high credit ratings.

All other financials assets including those past due for each reporting date are of good credit quality.

35.4 Capital management

For the purpose of the Company’s capital management, capital includes issued share capital and all other equity reserves attributable to the equity shareholders of the Company. The primary objective of the Company when managing capital is to safeguard its ability to continue as a going concern and to maintain an optimal capital structure so as to maximize shareholder value.

The company has not distibuted any dividend to its shareholders. The company monitors net debt to capital ratio i.e., total debt in proportion to its overall financing structure i.e., equity and debt. Total debt comprises of term loans and cash credits. The company manages its capital structure and makes changes to it in the light of changes in economic conditions and the risk characteristics of the underlying assets.

37 Recent Pronouncements

There are no standards of accounting or any addendum thereto, prescribed by Ministry of Corporate Affairs under section 133 of the Companies Act, 2013, which are issued and not effective as at March 31, 2024.

38 Corporate social responsibility (CSR)

The company has not crossed the threshold limit for applicability of CSR, hence the company is not required to have CSR commitee and has not incurred any expenditure towards the same.

Reason for variance

(a) Due to decreast in Profit and decrtease in Loan Repayment

(b) No Interest Expenses. Hence not computed

(c) Marginal variance

(d) Marginal variance

(e) No Long Term Debt. Hence not computed

(f) No Bad Debts. Hence Not computed

(g) N0 Change

(h) Marginal variance

(i) No Trade Refeivables. Hence not computed

(j) No inventory in the current year. Hence not computed.

(k) Due to increase in operating profit.

(l) Due to decrease in gross income.

40 Other Statutory Information :

Details of benami property held -

No proceedings have been initiated on or are pending against the company for holding benami property under the Benami Transactions (Prohibition) Act, 1988 (45 of 1988) and Rules made thereunder.

Utilisation of borrowed funds

The company did not obtain any secured borrowing and overdraft facilities during the year.

Borrowing secured against current assets

The company did not obtain any secured borrowing and overdraft facilities during the year.

Wilful defaulter

Company have not been declared wilful defaulter by any bank or financial institution or government or any government authority.

Relationship with struck off companies

The company has no transactions with the companies struck off under Companies Act, 2013 or Companies Act, 1956.

Compliance with number of layers of companies

The has no subsidiaries accordingly reporting under the Companies (restriction on number of layers) rules 2017 is not applicable.

Compliance with approved scheme(s) of arrangements

The company currently does not have any approved/pending scheme of amalgamation or arrangements, accordingly reporting under clause is not applicable.

Undisclosed income

There is no income surrendered or disclosed as income during the current or previous year in the tax assessments under the Income Tax Act, 1961, that has not been recorded in the books of account.

Details of crypto currency or virtual currency

The company has not traded or invested in crypto currency or virtual currency during the current or previous year. Registration or satisfaction of charges with ROC

The Company does not have any charges or satisfaction which is yet to be registered with ROC beyond the statutory period.

41 Events after the reporting period

There has been no significant subsequent events after the reporting period requiring either disclosure or adjustment to the reported financial statements.

42 Previous years figures

Previous year''s figures have been regrouped and reclassified where necessary to confoirm to this year’s classification.

During the year, the company has reworded its Significant Accounting Policies and there is no change in Accounting Policies from last year. Accounting Policies were reworded for better presentation.

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Mar 31, 2016

c) Rights, preferences and restrictions attached to equity shares

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

Note 1(i)

(a) The company has availed a term loan of Rs. 10 crores from Small Industries Development Bank of India (SIDBI), repayable in 120 monthly instalments, carrying interest rate of 12.75% per annum.

(b) A first charge by way of mortgage in favour of SIDBI has been created by the company on the immovable properties located at Door No.62 & 63, Luz Church Road, comprised in survey numbers 1652/14, 1652/16 part, Mylapore Village and Triplicane - Mylapore tauk, Chennai district, Chennai - 600 004, admeasuring 5919 sq.ft.

(c) Pending registration, no specific charge has been created on the undivided portion either by the company or by M/s. PL Finance and Investments Limited.

(d) Additionally secured by irrevocable and unconditional corporate guarantees by the company and M/s. Shri Housing Private Limited and M/s. PL Finance and Investments Limited. Further guaranteed by M/s. Shriram Auto Finance (Firm) and by a Director of the company.

(e) Period and amount of continuing default :

No of Instalments - 12 (Monthly)

Principal Overdue - Rs. 99,96,000 Interest overdue - Rs. 1,32,66,487

Note 2(ii)

(a) The company has availed a term loan of Rs. 2.57 Crores from M/s. Indiabulls Housing Finance Limited (IHFL), repayable in 60 equated monthly instalments effective May 2015, carrying adjustable rate of interest of IHFL-LFRR base rate less 5.75% per annum.

(b) Secured by immovable property belonging to M/s. Chennai Power & Coke Private Limited.

(c) Additionally secured by corporate guarantees by the company and M/s. Chennai Power Coke & Private Limited. Further Guaranteed by a director and a relative of a director.

(d) Period and amount of continuing default :

No of Instalments - 1 (Monthly)

Principal Overdue - Rs. 3,41,238 Interest overdue - Rs. 2,43,598

Note No.3 (iii)

Includes 6 shares held by nominee (Previous Year 6 shares)

Note No.4 (iv)

Includes 91,74,860 equity shares pledged with a lender for amounts borrowed by the Associate Company. Also refer Note No. 26 and 24.

Note No.5 (v)

The Company had entered into a memorandum of understanding with a fellow subsidiary for sale of entire shares held at the actual cost to the company.

However during the year the same shares were pledged with a bank as security for moneys borrowed by its subsidiary EMAS. The said bank enforced the security and appropriated the proceeds towards the outstanding of EMAS. Hence, the entire balance held in investments account has been transferred to EMAS. Also refer Note 25.

Note 6 : Balance Confirmation:

Confirmation of balances had not been received from parties in respect of certain out standings. Pending confirmation, no adjustments have been carried out to the carrying values and the balances as per books of account have been adopted. In the opinion of the Management, the amounts stated in the Balance Sheet are fully receivable/payable.

Note 7 : Contingent Liabilities

a) The land at Door No.62 & 63, Luz Church Road, comprised in survey numbers 1652/14, 1652/16 part, Mylapore Village and Triplicane - Mylapore tauk, Chennai district, Chennai - 600004 (in joint name with another company) has not been registered in the name of the company. Liability towards registration charges for the land is not ascertained and quantified.

b) The Company has pledged part of its investment of 91,74,860 Equity shares of Haldia Coke and Chemicals Private Limited with a lender for moneys borrowed by another company. The liability, if any, that may arise on account of the pledge is not quantifiable.

Note 8 : Related Party Disclosure

The related parties have been identified by the management and relied upon by the auditors. a) List of related parties:

(i) Party where control exists a) Ultimate controlling entity Shriram Auto Finance (Partnership firm)

(i) Subsidiaries, Fellow Subsidiaries and Associates

a) Subsidiaries Emas Engineers & Contractors Pvt Ltd.

RCI Power Ltd.

RCI Power (AP) Ltd.

b) Step down subsidiaries RCI Wind Farm 30 MW Pvt. Ltd.

RCI Wind Farm 50 MW Pvt. Ltd.

c) Fellow subsidiary Shri Housing Pvt. Ltd.

d) Entities with common director Haldia Coke & Chemicals Pvt. Ltd.

S R Fabricators Pvt. Ltd.

e) Key managerial personnel / Relatives of M. Narayanamurthi, Managing Director

Key managerial personnel S. Krishnan, Managing Director (Until 12.09.2015)

R. Ramakrishnan, Director

Vikram Mankal, Director

K.N. Narayanan, Director

R. Kohila, Director

A. Sriram, Chief Financial Officer

V. Sriramalakshmi, Company Secretary

(Until 31.07.2015)

Note 9 : Operating Leases

The Company has its office premises under operating lease arrangement which is cancellable at the option of the Company, by providing 3 months prior notice.

Note 10 : The Company''s current liabilities exceeded its net realizable current assets and the company had defaulted in meetings its repayment obligations to its lenders. It has plans to sell its prime asset in the near term and thereby expects to settle all material dues. Further, it is working toward certain strategic alliances which are expected to produce improved business results. Considering these, the management has prepared the financial statements by applying the “Going Concern” assumption

Note 11: Previous year figures

In the previous period the company had changed its financial year closing date from 30th June to 31st March. Accordingly, the figures for the previous period are for the 9 month period from July 1, 2014 to March 31, 2015 and are therefore not comparable with those of the current year which is 12 months from April 1, 2015 to March 31, 2016. Previous period figures have been regrouped / rearranged wherever necessary to conform to current year classification.

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Mar 31, 2015

Note 1 : Background

Premier Energy and Infrastructure Limited (PEIL) is focused on the Construction, housing development and energy sector.

The following are the subsidiaries:

a) RCI Power Limited - 100 %

b) RCI Power AP Limited - 100 %

c) EMAS Engineers & Contractors Pvt Ltd - 50.1 %

Note 2 : Share Capital

a) Rights, preferences and restrictions attached to equity shares

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

Note 3 : Balance Confirmation:

Confirmation of balances had not been received from parties in respect of certain outstandings. Pending confirmation, no adjustments have been carried out to the carrying values and the balances as per books of account have been adopted. In the opinion of the Management, the amounts stated in the Balance Sheet are fully receivable/payable.

Note 4 : Taxation

Upon a review of the Income Tax provisions relating to ealier years, in the opinion of the management, an excess provision of Rs. 2,82,10,852/- has been made and the same is considered no longer payable. Hence, it has been reversed during the current period.

Note 5 : Contingent Liabilities

a) The land at Door No.62 & 63, Luz Church Road, comprised in survey numbers 1652/14, 1652/16 part, Mylapore Village and Triplicane - Mylapore tauk, Chennai district, Chennai - 600 004, purchased during the year 2007-08 (in joint name with another company) has not been registered. Liability towards registration charges for the land is not ascertained and quantified.

b) The Company has pledged part of its investment of 91,74,860 Equity shares of Haldia Coke and Chemicals Private Limited with a lender for moneys borrowed by the above company. The liability, if any, that may arise on account of the pledge is not quantifiable.

Note 6 : Related Party Disclosure

The related parties have been identified by the management and relied upon by the auditors.

a) List of related parties:

(i) Party where control exists

a) Ultimate controlling entity Shriram Auto Finance (Partnership firm)

(i) Subsidiaries, Fellow Subsidiaries and Associates

a) Subsidiaries Emas Engineers & Contractors Pvt Ltd.

RCI Power Ltd.

RCI Power (AP) Ltd.

b) Step down subsidiaries RCI Wind Farm 30 MW Pvt. Ltd.

RCI Wind Farm 50 MW Pvt. Ltd.

c) Fellow subsidiary Shri Housing Pvt. Ltd.

d) Entities with common director Vaata Infra Limited (Until 30th December, 2014)

S R Fabricators Pvt. Ltd.

Ennore Coke Limited

Haldia Coke & Chemicals Pvt. Ltd.

e) Key managerial personnel / Vikram Mankal, Managing Director Relatives of Key & CEO (Until 31st March, 2015) managerial personnel M. Narayanamurthi, Relative of Managing Director

A. Sriram, Chief Financial Officer

V. Sriramalakshmi, Company Secretary

Note 7 : Operating Leases

The Company has its office premises under operating lease arrangement which is cancellable at the option of the Company, by providing 3 months prior notice.

Note 8 : Previous year figures

Previous year figures have been regrouped / rearranged wherever necessary to conform to current year classification. The current year figures comprise of 9 months operation, hence are not comparable with previous year figures.

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Jun 30, 2014

Notes forming part of Standalone Financial Statements for the year ended June 30, 2014 General information

a) The financiai statements have been prepared and presented as per the revised Schedule VI notified under the Companies Act 1956.

b) Ail amounts in the financial statements are presented in rupees, except as otherwise stated

c) Premier Energy and Infrastructure Limited (PEIL) is focused on the Construction, housing development and energy sector.

The following are the subsidiaries:

a) RCI Power Limited -100 %

b) RCI Power AP Limited -100 %

c) EMAS Engineers & Contractors Pvt Ltd - 50.1 %

Note 2 : Balance Confirmation:

The Company has not obtained confirmation of balances in respect of Trade Receivables amounting to Rs 10,12,00,000/-and Trade payables amounting to Rs 59,45,250/-

Pending receipt of confirmation/reconciliation of balances, no adjustments have been carried out to the carrying values of the above amounts for the year ended 30 June 2014. In the opinion of the Management, the amounts stated in the Balance Sheet are fully receivable/payable.

Note 3:The Company has made a provision for cost for an amount of Rs 12,16,00,000, based on a memorandum of understanding to erect and commission wind power projects at Tadipatri.

Note 4: Taxation

a) Provision for Income tax made during the year is Rs.2,21,44,760 under the provisions of the Income Tax Act 1961.

b) Excess provision created for the assessment year 2010-11 of Rs.3,83,498 and for the assessment year 2011-12 of Rs.22,00,000 have been reversed during the period.

Note 5 : Contingent Liabilities

a) HUDCO has filed a case against the company for recovery of Rs 21,251,771 (Previous year Rs 21,251,771) as against Rs 5,600,000 (Previous year Rs. 5,600,000) payable by the Company as per the Scheme sanctioned by Hon''ble High Court of Madras vide CP 367/2003. The company has won the case at the DRT, Chennai. Matter is now sub judice before DRAT Chennai.

b) The Company has entered into agreement with a Company M/s Orient Green Power Limited and its associates/ subsidiaries to erect and commission wind power projects at Tadipatri. The Company executes this through Vaata Infra Limited. The Company has not provided for Works contract tax on the said transactions.

c) The land at Luz Church Road purchased during the year 2007-08 (in joint name with another company) has not been registered. Liability of registration charges for the land amount is not quantifiable. The land has been provided as a security for the term loan of Rs.10 crores taken from SIDBI.

d) The Company had acquired land for development from M/s Amrit Technologies Private Limited at Rs. 145,672,313 and a sum of Rs.48,071,313 is still due to them . Subsequently the Company has sold the land to Beta Wind Farms Limited. The purchase of the land and its sale have not been registered. Liability of registration charges for land amount is not quantifiable.

e) The Company has pledged part of its investment viz., 91,74,860 Equity shares of Haldia Coke and Chemicals Private Limited with a lender for moneys borrowed by the above company. The liability, if any, that may arise on account of the pledge is not quantifiable.

f) Corporate Guarantee given by the Company in favour of the Bank towards moneys borrowed by the subsidiary- Rs.17 Crores.

Note 6 : The company received during the year.an amount of Rs.1,20,00,000 from parties for onward remittance to a fellow subsidiary. Further an amount of Rs 5,40,00,000/-has been shown as payables/receivables .The receipts and payments also include cases where receipts and payments from/ to a party have been treated as a settlement of payables/ receivables of another party based on mutual understanding.

Confirmation of balances from the above mentioned parties is available. The management is confident of recovering the receivables stated in the accounts.

Note 7 : Impairment of Assets

There is no impairment of cash generating assets during the year in terms of Accounting Standards (AS-28) "Impairment of Assets".

* Note :

Consequent to the merger of M/s Valagam Power Projects Pvt. Limited and M/s Black Gold Chemicals Private Limited with the Company with effect from 1 st July 2010, the Company has ceased to be a subsidiary of Shri Housing Private Limited and here after Shri Housing Private Limited holds 32.08% and Shriram Auto Finance (the 100% owner of Shri Housing Private Limited) holds 33.49% in the capital.

The related parties have been identified on the basis of the requirements of the Accounting Standards 18 ''Related Party Disclosures'' under the Companies (Accounting Standards) Rules, 2006, by the management and the same have been relied upon by the auditors,

Note 8 : Derivatives and foreign currency exposure

The Company has not entered into any derivative contracts during the year under review and also does not have any foreign currency exposure as at June 30, 2014.

Note 9 : foreign currency transactions

There are no inflows in foreign currency during the reporting period June 30,2014 and during ihe previous reporting period June 30,2013. Expenditure in Foreign Currency on account of Foreign Travel - Rs.3,86,881/ - (Previous Year: Rs. 1,150,227/-)

Note 10 : Operating Leases

The Company has its office premises under operating lease arrangement which is cancellable at the option of the Company, by providing 3 months prior notice.

Note 11 : Previous year figures

Previous year figures have been regrouped / rearranged wherever necessary to conform to current year classification.

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Jun 30, 2013

Note 1 : Contingent Liabilities:

a HUDCO has filed a case against the company for recovery of Rs 21,251,770 (Previous year 21,251,770 ) as against Rs 5,600,000 (Previous year Rs. 5,600,000 ) payable by the Company as per the Scheme sanctioned by Hon''ble High Court of Madras vide CP 367/2003. The company has won the case at the DRT, Chennai. Matter is now sub judice before DRAT Chennai

b The Company has entered into agreement with OGPL and its associates or subsidiaries to erect and commission wind power projects at Tadipatri. The Company executes this through Vaata Infra Private Limited. The Company has not provided for Works contract tax on the said transaction.

c The land at Luz Church Road purchased during the year 2007-08 (in joint name with another company) has not been registered. Liability of registration charges for land amount indeterminate.

d The company has given the Luz Church Road land as security for a loan of Rs. 120,000,000 availed by subsidiary company M/s Emas Engineers & Contractors Pvt Ltd.

e The Company had acquired land for development from M/s Amrit Technologies Private Limited at Rs. 145,672,313 and a sum of Rs.48,071,313 is still due to them . Subsequently the Company has sold the land to Beta Wind Farms Limited for Rs.195,672,313 and Rs.48,071,313 crores will be remitted directly to Amrit Technologies Private Limited. The purchase and Sale are not registered. Liability of registration charges for land amount indeterminate.

Note 2 : Related Party Disclosure

List of related parties and the relationship.

(a) Ultimate controlling entity Shriram Auto Finance (Partnership firm)

(b) Subsidiaries Emas Engineers & Contractors Pvt Ltd.

RCI Power Ltd.

RCI Power (AP) Ltd.

(c) Step down subsidiaries RCI Wind Farm 30 MW Pvt. Ltd.

RCI Wind Farm 50 MW Pvt. Ltd.

(d) Fellow subsidiary Shri Housing Pvt. Ltd.

(e) Entities with common director Vaata Infra Limited

S R Fabricators Pvt. Ltd.

Haldia Coke & Chemicals Pvt. Ltd.

(ceased to be an associate during the reporting period consequent to changes in Composition of its Board of Directors) Ennore Coke Limited

(f) Key managerial Personnel Vikram Mankal, Managing Director & CEO

Note 3 : Disclosure as per Clause 32 of Listing agreement

(Loans & Advances to Subsidiaries, Associates & Others) - Refer Note 28 above.

Note 4 : Micro, Small and Medium Enterprises

The company has not received any intimation on any of its suppliers regarding their registration under Micro, Small and Medium Enterprises Development Act, 2006. Accordingly there are no identified Micro, Small and Medium Enterprises vendors to the company.

Note 5 : Previous year figures

Previous year figures have been regrouped / rearranged wherever necessary to conform to current year classification.

Notes:

1. Total Liabilities include: Secured Loans, Unsecured Loans, Current Liabilities & Provisions and Deferred Tax Liability.

2. Total Assets include: Net Fixed Assets, Investments, Current Assets, Loans & Advances, Deferred Tax Assets and Miscellaneous Expenditure.

3. Emas Engineers & Contractors'' figures are based on the Unaudited Financial Results as on 30th June 2013.

4. Details financial statements, Directors'' Report and Auditors'' Report of the individual subsidiaries are available for inspection at the Registered Office of the Company. Upon writtten request from a Share Holder we will arrange to deliver copies of the Financial Statemments, Directors Report and Auditors Report for the individual subsidiaries.

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Jun 30, 2012

Note 1: Disclosures as per Accounting Standard requirements

i. Contingent Liabilities:

Claims against the Company not acknowledged as debts:

(a) HUDCO has filed a case against the Company for recovery of Rs.2.10 Crores (Previous year 2.10 Crores) as against Rs.56 lacs (Previous year Rs. 56 lacs) payable by the Company as per the Scheme sanctioned by Hon''ble High Court of Madras vide CP 367/2003. The Company has won the case at the DRT, Chennai. Matter is now sub judice before DRAT Chennai

(b) The Company has entered into agreement with OGPL and its associates or subsidiaries to erect and commission wind power projects at Tadipatri. The Company executes this through Vaata Infra Private Limited. The Company has not provided for Works contract tax on the said transaction.

(c) The land at Luz Church Road purchased during the year 2007-08 (in joint name with another company) has not been registered. Liability of registration charges for land amount indeterminate.

(d) The Company has acquired land for development from Amrit Technologies Private Limited at 14.56 crores. The Company has not registered the land in the name of the company. Liability for registration charges for land - Amount indeterminate.

ii. Sale of investment:

The Company has made an off-market sale of 31,11,750 shares of Orient Green Power Co. Limited on 30th June 2012. The transfer has been made at a price above the market value. The transfer has been registered on 7th September 2012.

iii. Capital Commitments:

Estimated amount of contracts remaining to be executed on capital account and not provided for (net of advance) - Nil. (Previous Year - Nil)

iv. Short Term Loans (Unsecured Loans) includes Rs.21,876,120 (Previous year Rs. 21,876,120) /and other current Liabilities includes Rs.31,370,885 (Previous year Rs.3,13,70,885) representing Unclaimed amounts by some parties under the scheme of arrangement to be settled as and when claims are received.

v. Segmental Reporting:

The Company has carried out business operations during the reporting year only in one segment. Hence, segmental reporting does not arise.

vi. Impairment of Assets:

There is no impairment of cash generating assets during the year in terms of Accounting Standards (AS -28) "Impairment of Assets".

vii. Information regarding value of direct imports ( CIF Value), expenditure , earnings in foreign currency - NIL ( Previous year NIL)

viii. Exposure on Derivatives & Un hedged foreign currency exposure - NIL ( Previous year NIL)

ix. Managerial Remuneration: Rs 2,00,000 p.m. (Total Rs. 8 lacs plus perquisites) ( Previous year- Nil)

x. Disclosure as per Clause 32 of the Listing Agreement (Loans & Advances to Subsidiaries, Associates & Others) - Refer Note 24 (vi) above.

xi. Micro, Small and Medium Enterprises:

The company has not received any intimation on any of its suppliers regarding their registration under Micro, Small and Medium Enterprises Development Act, 2006. Accordingly there are no identified Micro, Small and Medium Enterprises vendors to the company.

xii. Expenditure in Foreign Currency on account of Foreign Travel - Rs.20,57,342 (Previous Year: 2,54,169/-)

xiii. Supplementary Profit and Loss information:

Information with regard to other matters specified in Part II of New Schedule VI to the act is either nil or not applicable to the company for the year.

xiv. Previous period comparatives:

Previous year figures have been regrouped / rearranged wherever necessary to conform to current year classification.

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Jun 30, 2011

(1) M/s. Valagam Power Projects Private Limited and M/s. Blackgold Chemicals Private Limited have merged with Premier Energy and Infrastructure Ltd pursuant to provisions of Section 391 to 394 of the Companies Act, 1956 with effect from 01.07.2010. Valagam Power Projects Pvt Ltd has two subsidiaries viz: 1) RCI Power Ltd and 2) RCI Power (AP) Ltd and two step down subsidiaries RCI Windfarm 50 MW Pvt. Ltd. And RCI Windfarm 30 MW Pvt. Ltd.

Order of Scheme of amalgamation was passed by the Hon''ble Madras High Court on 30th November 2011 Consequent to the amalgamation, 5 equity shares of Premier Energy of Rs. 10/- each fully paid up were issued in exchange for 1 equity share of Valagam Power Projects Pvt Ltd of Re. 1 each fully paid up and 1 equity share of Premier Energy of Rs. 10 each fully paid up was issued in exchange for 1 equity share of Black Gold Chemicals Pvt Ltd of Re. 1 each fully paid up. The share price of Premier Energy was valued at Rs. 50/- per share.

(2) Contingent Liabilities:

Claims against the Company not acknowledged as debts:

(a) HUDCO has filed a case against the company for recovery of Rs 2.10 Crores (Previous year 2.10 Crores) as against Rs 56 lacs (Previous year Rs. 56 lacs) payable by the Company as per the Scheme sanctioned by Hon''ble High Court of Madras vide CP 367/2003. The company has won the case at the DRT, Chennai. Matter is now sub judice before DRAT Chennai

(b) The land at Luz Church Road purchased during the year 2007-08 (in joint name with another company) has not been registered. Liability of registration charges for land amount indeterminate.

(3) Capital Commitments:

Estimated amount of contracts remaining to be executed on capital account and not provided for (net of advance) - 12.06 crores. (Previous Year - Nil)

(4) Rights Issue:

During the period ended 30th June,2010, pursuant to the decision of the shareholders of the Company at the Extra Ordinary General Meeting held on December 22, 2009; 10,000,000 equity shares of Rs 10/- each for cash at a price of Rs 20/- per share (including a share premium of Rs 10/- per equity share) aggregating to Rs 200,000,000 on rights basis to the existing shareholders ( with renunciation rights) in the ratio of 1 equity shares for every 1 equity share held by the existing shareholders on the record date, i.e. May 7,2010.

M/s Premier Energy and Infrastructure Limited entered into a Memorandum of Understanding dated September 14, 2009 with M/s EMAS Engineers and Contractors Private Limited for subscription of 6,024,050 equity shares fully paid up equity shares having face value of Rs 10/- each at a price of Rs 30.71/- per equity share (including equity share premium of Rs 20.71/- per share) for Rs 1,850 lacs as per valuation report duly certified by a chartered accountant dated September 10, 2009. After investment of equity shares, Premier will hold and control 50.1% of equity share capital in M/s EMAS Engineers and Contractors Private Limited.

(5) Unsecured Loans (Other than Short Term Borrowings) include Rs.21,876,120 (Previous year Rs. 21,876,120) / and current liabilities include Rs.31,370,885 (Previous year Rs.35,120,885) representing Unclaimed amounts by some parties under the scheme of arrangement to be settled as and when claims are received.

(6) Segmental Reporting:

The Company has carried out business operations during the reporting period only in one segment. Hence, segmental reporting does not arise.

(7) Impairment of Assets:

There is no impairment of cash generating assets during the year in terms of Accounting Standards (AS - 28) "Impairment of Assets".

(8) Information regarding value of direct imports ( CIF Value), expenditure , earnings in foreign currency - NIL (Previous year NIL)

(9) Exposure on Derivatives & Un hedged foreign currency exposure - NIL ( Previous year NIL)

(10) Disclosure as per Clause 32 of the Listing Agreement (Loans & Advances to Subsidiaries, Associates & Others)

- Refer Note 10 above.

(11) Micro, Small and Medium Enterprises:

The company has not received any intimation on any of its suppliers regarding their registration under Micro, Small and Medium Enterprises Development Act, 2006. Accordingly there are no identified Micro, Small and Medium Enterprises vendors to the company.

(12) Expenditure in Foreign Currency on account of Foreign Travel - Rs. 2,54,169/- (Previous Year: Nil)

(13) Supplementary Profit and Loss information:

Information with regard to other matters specified in Part II of Schedule VI to the act is either nil or not applicable to the company for the period.

(14) Previous period comparatives:

Previous period accounts have been drawn up for a cumulative period of 15 months and hence previous year figures are not comparable.

Previous year figures have been regrouped / rearranged wherever necessary to conform to current year classification.

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Jun 30, 2010

(1) Contingent Liabilities:

Claims against, the Company not acknowledged as debts:

(a) HUDCO has filed a case against the company for recovery of Rs 2.10 Crores as against Rs 56 lacs payable by the Company as per the Scheme sanctioned by Honble High Court of Madras vide CP 367/2003. The company has won the case at the DRT, Chennai, Matter is now sub judice before DRAT Chennai.

(b) The land at Luz Church Road purchased during the year 2007-08 (in joint name with another company) has not been registered Liability of registration charges for land amount indeterminate.

(c) As per Scheme of Arrangement, the company needs to pay 70% of total liability to all creditors. However, in case of money due to a public limited company, the company has shown payables as 100% ( i.e Rs 12,500,000) instead of 70% payable (i.e 8,750,000) as per scheme of arrangement dated February, 2004.

(2) Capital Commitments:

Estimated amount of contracts remaining to be executed on capita! account and not provided for (net of advance) nil

(3) Rights Issue:

During the period ended 30th June,2010, pursuant to the decision of the shareholders of the company at the Extra Ordinary General Meeting held on December 22, 2009; 10,000,000 equity shares of Rs 10/- each for cash at a price of Rs 20/- per share ( including a share premium of Rs 10/- per equity share) aggregating to Rs 200,000,000 on rights basis to the existing share holders ( with renunciation rights) in the ratio of 1 equity shares for every 1 equity share held by the existing shareholders on the record date , i.e May 7,2010

(4) Unsecured Loans ( Other than Short Term Borrowings) includes Rs 56,997,005/- represents settlement to be made to 5 parties under Scheme of Arrangement vide Court Order dated 3rd Feb,2004 Vide Company Petition No 367 of 2003.

(5) The Company (Transferor Company; in its Board Meeting held on June 25,2010 , have approved the Scheme of Amalagmation between \alagam Power Projects Limited ., (the Transferor Company), subject to the approval of the Share holders, Creditors and the Statutory Authorities and sanction of the Honble High Court of Madras for the development of 115 MW Putlur Wind Farm Project in terms of letter dated 25th June,2010.

(6) Segmental Reporting:

The Company has not carried out business operations during the reporting period. Hence, segmental reporting does not arise.

(7) Impairment of Assets:

There is no impairment of cash generating assets during the year in terms of Accounting Standards ( AS -28) " Impairment of Assets".

(8) Related Party Disclosure

List of related parties and the relationship.

Shri Housing Private Limited - Holding Co.

Related Party Transactions:

Loan takan from Shri Housing Private Limited amounting to Rs. 3,000.000/-

(13) Information regarding value of direct imports ( CIF Value), expenditure, earnings in foreign currency - NIL ( Previous year NIL)

(9) Exposure on Derivatives & Un hedged foreign currency exposure - NIL ( Previous year NIL)

(10) Managerial Remuneration: The Company has not appointed the Managing Director as required under Sec 269 of the Companies Act, 1956. Hence, no remuneration paid during the year

(11) Disclosure as per Clause 32 of the Listing Agreement ( Loans & Advances to Subsidiaries. Associates & Others) -Nil

(12) Micro, Small and Medium Enterprises

The company has sought information from all its existing suppliers regarding tneir registration under Micro, Small and Medium Enterprises Development Act, 2006. Due to non receipt of information from suppliers, we could not identity / disclose the information sought for.

(13) Supplementary Profit and Loss information:

Information with regard to other matters specified in Part II of Schedule VI to the act is either nil or not applicable to the company for the period.

(14) Previous period comparatives:

Accounts have been drawn up for a cumulative period of 15 months and hence previous year figures are not comparable.

Previous year figures have been regrouped / rearranged wherever necessary to conform to current year classification.

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Mar 31, 2009

1. The company has converted Fixed Assets amounting to Rs. 11.46 lacs to Property Development Projects.

2. The company has no lease transactions during the year

3. Since there are no employees, contribution to Provident Fund and other recognized funds, Gratuity and leave encashment are not applicable.

4. No amount exceeding Rs. 1 lakh is due for more than 30 days to any small scale undertaking and the total outstanding amount due is nil.

5. The company operated in only one segment

6. A sum of 25.25 lacs has been provided for taxation.

7. The company has revalued all the Fixed Asset and the revalued amount is credited to Revaluation reserve.

8. intangible Assets (AS 26) - Goodwill Rs. 9.47 lacs

9. Expenses in Foreign Currency Rs. 2.95 Lacs

10. Contingent Liabilities -Nil

11. The Company has not appointed a Managing Director under section 269 of the companies Act, 1956.

12. The Company is in process of appointing a qualified Company Secretary under Section 383A of the companies Act, 1956.

13. Comparative figures for the previous year have been regrouped and reclassified where ever necessary to confrom to this years classification.