Notes to Accounts of RTCL Ltd.

Mar 31, 2024

39. Contingent Liabilities

A. Contingent liabilities not provided for in respect of:

The Company had provided a Corporate Guarantee to Messrs. Shreesri Buildtech Private Limited, to State Bank
of India, Birhana Road, Kanpur for facilitating Term Loan of Rs. 2,347.00 Lakhs (Rupees Two Thousand Five
Hundred Lakhs Only), vide resolution dated March 28, 2017.

40. (a) Financial instruments

The carrying value / fair value of financial instruments (excluding investments in Associate) by categories
is as follows:

41. Fair Value Hierarchy

The table shown below analyses financial instruments carried at fair value, by valuation method. The different
levels have been defined below:

Level 1: quoted prices (unadjusted) in active markets for identical assets or liabilities

Level 2: inputs other than quoted prices included within Level 1 that are observable for the asset or liability, either
directly (i.e., as prices) or indirectly (i.e., derived from prices)

Level 3: inputs for the asset or liability that are not based on observable market data (unobservable inputs)

42. Segment Reporting

The segment reporting of the Company has been prepared in accordance with Ind AS-108, "Operating Segment"
(specified under section 133 of The Companies Act, 2013, read with Rule 7 of Companies (Accounts) Rules,
2015). For management purposes, the Company is organized into business units based on its products and
services and has two reportable segments as follows:

(a) Trading/Agency

(b) Departmental Store

(c) Real Estate Developers

Segments have been identified as reportable segments by the Company''s chief operating decision maker
("CODM"). Segment profit amounts are evaluated regularly by the Board, which has been identified as the CODM,
in deciding how to allocate resources and in assessing performance.

Segment Revenue, Results, Assets and Liabilities include the respective amounts identifiable to each of the
segments and amount allocated on a reasonable basis. Unallocated expenditure consists of common expenditure
incurred for all the segments and expenses incurred at corporate level. The assets and liabilities that cannot be
allocated between the segments are shown as unallocated corporate assets and liabilities respectively.

The accounting policies of the reportable segments are the same as the Company''s accounting policies described
in Note 3i. Segment profit (Earnings before interest, depreciation and amortization, and tax) amounts are evaluated
regularly by the Board that has been identified as its CODM in deciding how to allocate resources and in
assessing performance. The Company''s financing (including finance costs and finance income) and income
taxes are reviewed on an overall basis and are not allocated to operating segments.

44. Critical estimates and judgments in applying accounting policies

The management believes that the estimates used in preparation of the financial statements are prudent and
reasonable. Information about estimates and judgments made in applying accounting policies that have the most
significant effect on the amounts recognized in the financial statements are as follows:

i) Property, plant and equipment and useful life of property, plant and equipment and intangible
assets

The carrying value of property, plant and equipment is arrived at by depreciating the assets over the useful life
of assets. The estimate of useful life is reviewed at the end of each financial year and changes are accounted
for prospectively.

ii) Provisions and contingencies

The assessments undertaken in recognizing provisions and contingencies have been made in accordance with
the applicable Ind AS.

A provision is recognized if, as a result of a past event, the Company has a present legal or constructive
obligation that can be estimated reliably, and it is probable that an outflow of economic benefits will be required
to settle the obligation. Where the effect of time value of money is material, provisions are determined by
discounting the expected future cash flows.

In the normal course of business, contingent liabilities may arise from litigation and other claims against the
Company. Guarantees are also provided in the normal course of business. There are certain obligations which
management has concluded, based on all available facts and circumstances, are not probable of payment or are
very difficult to quantify reliably, and such obligations are treated as contingent liabilities and disclosed in the
notes but are not reflected as liabilities in the financial statements. Although there can be no assurance regarding
the final outcome of the legal proceedings in which the Company involved, it is not expected that such contingencies
will have a material effect on its financial position or profitability.

45. Capital Management

The Company''s objectives when managing capital is to safeguard continuity, maintain a strong credit rating and
healthy capital ratios in order to support its business and provide adequate return to shareholders through
continuing growth and maximize the shareholders'' value. The Company''s overall strategy remains unchanged
from previous year. The Company sets the amount of capital required on the basis of annual business and long¬
term operating plans which include capital and other strategic investments. The funding requirements are met
through a mixture of equity, internal fund generation and borrowed funds. The Company''s policy is to use short
term and long-term borrowings to meet anticipated funding requirements. The Company monitors capital on the
basis of the net debt to equity ratio. The Company is not subject to any externally imposed capital requirements.
Net debt is long-term and short-term debts as reduced by cash and cash equivalents (including restricted cash
and cash equivalents) and short-term investments. Equity comprises share capital and free reserves. The
following table summarizes the capital of the Company:

46. The Company had measured Long-Term investments at cost and Current Investments at lower of cost and fair
value in the previous GAAP. Under Ind AS, the company has recognized the Non-current Investments in equity
shares (other than subsidiary, associates and joint ventures) at Cost as appearing in the Standalone Balance
Sheet as at March 31, 2024 and March 31, 2023.

Therefore, financial impact on account of the difference between the fair value and the cost of Non-Current
investment in the "Non-Current Investment", "Other Equity" and "Other Comprehensive Income" and "Deferred
Tax" are not ascertainable.

47. Previous Year''s Comparatives

Previous Year''s figures have been regrouped/re-classified, wherever necessary, to conform to Current Year''s
Classification.

48. These financial statements were approved for issue by the Board of Directors on May 30, 2024.

49. General

a. All amounts disclosed in the financial statements and notes have been rounded off to the nearest One
Lakh two decimals as per the requirements of Schedule III, unless otherwise stated.

b. Figures for the previous year have been regrouped and / or rearranged and / or reclassified wherever
necessary to make them comparable with those of current periods.

c. Notes to Accounts form an integral part of the Ind AS Financial Statements and have been duly
authenticated.

For Aggarwal & Rampal Sd/- Sd/_-

Chartered Accountants (Bharat Hari Dalmia) (S_unil Si_ngh)

FR No. 003072N Chief Financial Officer Director

PAN: AGJPD0321L DIN-07558446

Sd/-

Praveen Kumar Rampal

(Partner) Sd/- Sd/_-

Membership No: 082226 ^{(Ajay Kumar Jain)} (Sneha Pandey)

UDIN:24082226BKEDQG8507 ^Director Company Secretary

Place: New Delhi ^DIN:00043349 PAN: DUDPP2514J

Date: May 30, 2024

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Mar 31, 2015

1. Public Issue Account of Rs. 3,500/- (2013-2014 Rs. 3,500/-) is subject to reconciliation and confirmation.

2. Company had given an advance of Rs. 289,930/- (2013-2014 Rs. 289,930/-) during the financial year 1999-2000 to 'Kanpur Nagar Mahapalika' for conversion of leasehold land into freehold land. However, the said effect has not yet been given.

3. There were no Micro and Small enterprises to whom amounts are outstanding for more than 45 days, as at March 31, 2015 (Previous Year Rs. Nil). As at March 31,2015, no supplier has intimated the company about its status as Micro and Small enterprises or its registration with the appropriate authority under The Micro, Small and Medium Enterprises Development Act, 2006.

4. Confirmation from Debtors, Creditors and advances to and from various parties were not received and their balances are shown as appearing in the accounts.

5. During the year, there were no expenditure and/ or earnings in foreign exchange.

6. Particulars in respect of Guarantees given and Securities provided:

i.) The Company has provided Corporate Guarantee and given a collateral security by way of equitable mortgage of its Properties, situated at Cuelim Village, Village Panchayat Cansaulim Arrosim, Taluka and Sub District Marmugao, Goa, in connection to the credit facility sanctioned to Sir Bio Tech India Limited', in the form of Import LC (usance period upto 180 days) from Bank of Baroda, Panjim Branch, Goa, vide sanction letter bearing reference number PAN/ADV/2014 dated May 17, 2014.

ii.) The Company has provided a Corporate Guarantee to Messrs. Shreesri Buildtech Private Limited, by way of extension over Equitable Mortgage of its property situated at Village Chaudharipur Pargana & Tehsil Bilhaur to State Bank of India, Birhana Road, Kanpur for facilitating FBWC Limit of Rs. 950.00 Lacs (Rupees Nine Hundred Fifty Lacs Only), vide sanction letter dated August 8, 2014.

iii.) The Company has provided a Corporate Guarantee to Messrs. Muskan Towers Private Limited, by way of extension over Equitable Mortgage of its property situated at Village Chaudharipur Pargana & Tehsil Bilhaur to State Bank of India, The Mall, Kanpur for facilitating Term Loan Rs. 500.00 Lacs (Rupees Five Hundred Only), vide sanction letter dated February 26, 2014.

7. During the year, the Company has applied the estimated useful lives as specified in Schedule II of the Companies Act, 2013. Accordingly, the unamortized carrying value is being depreciated / amortized over the revised/remaining useful lives. The written down of Fixed Assets whose lives have expired as at April 1,2014 have been adjusted in the opening balance of the retained earnings amounting to Rs.1,131,193.21. However, the Company has not created any provision for residual value of the Fixed Assets, which is not significant considering the total value of block of assets.

8. Related Party Disclosures

a.) Following are Related Parties:

1. Key Management Personnel/Directors Mr. Ajay Kumar Jain, Whole- Time-Director

Mr. Sunil Tandon, Whole-Time- Director

2. Associate(s.) Raghunath Builders Private Limited

PJ. Softwares Private Limited

Trendy Buildcom Private Limited

Mangalam Infra Projects Private Limited

3. Individual and their relatives Mr. Om Prakash Agrawal having significant influence over the company Mr. Jai Prakash Agrawal

Mr. Sri Prakash Agrawal(HUF)

Om Prakash Agrawal (HUF)

Jai Prakash Agrawal (HUF)

Smt. Geeta Agrawal

Smt. Ranjana Agrawal

Mrs. Alka Dalmia

Mr. Yuvraj Dalmia

Mr. Pulkit Dalmia

Mr. Prakhar Dalmia

4. Enterprises over which persons Sir Bio Tech India Limited mentioned in paragraph number (2) above exercise significant influence Jai Nest-Build Home Private Limited

Lotus Infra Projects Private Limited

Sir Bio Tech India Limited

Elite Creations Private Limited

Shreesri Buildtech Private Limited

9. Note nos.1 to 32 forms an integral part of the Balance Sheet and Profit and Loss Account and have been duly authenticated.

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Mar 31, 2014

1. NATURE OF OPERATION

RTCL Limited (The "Company") is mainly engaged in Real Estate including renting activities.

2. Public Issue Account of Rs. 3,500/- (2012-2013 Rs. 3,500/-) is subject to reconciliation and confi rmation.

3. Company had given an advance of Rs. 289,930/- (2011-2012 Rs. 289,930/-) during the fi nancial year 1999-2000 to ''Kanpur Nagar Mahapalika'' for conversion of leasehold land into freehold land. However, the said effect has not yet been given.

4. There were no Micro and Small enterprises to whom amounts are outstanding for more than 45 days, as at March 31, 2014 (Previous Year Rs. Nil). As at March 31, 2013, no supplier has intimated the company about its status as Micro and Small enterprises or its registration with the appropriate authority under The Micro, Small and Medium Enterprises Development Act, 2006.

5. Confi rmation from Debtors, Creditors and advances to and from various parties were not received and their balances are shown as appearing in the accounts.

6. During the year, there were no expenditure and/ or earnings in foreign exchange.

7. The Company has provided Corporate Guarantee and given an additional collateral security by way of equitable mortgage of its Property bearing Survey Number 46/3 area admeasuring 10,379 Square Meter (Approximately) and Survey Number 46/4C area admeasuring 2,482 Square Meter (Approximately) both situated at Cuelim Village, Village Panchayat Cansaulim Arrosim, Taluka and Sub District Marmugao, Goa, in connection to the credit facility sanctioned to Sir Bio Tech India Limited'', in the form of Import LC (usance period upto 180 days) from Bank of Baroda, Panjim Branch, Goa, vide sanction letter bearing reference number PAN/ADV/2014 dated May 17, 2014.

8. Note nos.1 to 31 forms an integral part of the Balance Sheet and Profi t and Loss Account and have been duly authenticated.

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Mar 31, 2013

1. NATURE OF OPERATION

RTCL Limited (The "Company”) is mainly engaged in Real Estate including renting activities.

2. Public Issue Account of Rs. 3,500/- (2011-2012 Rs. 3,500/-) is subject to reconciliation and confi rmation.

3. Company had given an advance of Rs. 289,930/- (2011-2012 Rs. 289,930/-) during the fi nancial year 1999-2000 to ''Kanpur Nagar Mahapalika'' for conversion of leasehold land into freehold land. However, the said effect has not yet been given.

4. There were no Micro and Small enterprises to whom amounts are outstanding for more than 45 days, as at March 31, 2013 (Previous Year Rs. Nil). As at March 31, 2012, no supplier has intimated the company about its status as Micro and Small enterprises or its registration with the appropriate authority under The Micro, Small and Medium Enterprises Development Act, 2006.

5. Confi rmation from Debtors, Creditors and advances to and from various parties were not received and their balances are shown as appearing in the accounts.

6. During the year, there were no expenditure and/ or earnings in foreign exchange.

7. Note nos.1 to 30 form an integral part of the Balance Sheet and Profi t and Loss Account and have been duly authenticated.

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Mar 31, 2012

1. NATURE OF OPERATION

RTCL Limited (The "Company") is mainly engaged in Real Estate including renting activities.

2. Public Issue Account of Rs. 3,500/- (2010-2011 Rs. 3,500/-) is subject to reconciliation and confirmation.

3. Company had given an advance of Rs. 289,930/- (2010-2011 Rs. 289,930/-) during the financial year 1999-2000 to 'Kanpur Nagar Mahapalika' for conversion of leasehold land into freehold land. However, the said effect has not yet been given.

4. There were no Micro and Small enterprises to whom amounts are outstanding for more than 45 days, as at March 31, 2012 (Previous Year Rs. Nil). As at March 31, 2012, no supplier has intimated the company about its status as Micro and Small enterprises or its registration with the appropriate authority under The Micro, Small and Medium Enterprises Development Act, 2006.

5. Confirmation from Debtors, Creditors and advances to and from various parties were not received and their balances are shown as appearing in the accounts.

6. During the year, there were no expenditure and/ or earnings in foreign exchange.

7. Note No. 1 to 30 form an integral part of the Balance Sheet and the Profit and Loss Account and have been duly authenticated.

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Mar 31, 2011

1 Previous year's figures have been regrouped, recast, rearranged wherever necessary to conform to this year's classification. Figures in bracket represent figures pertaining to financial year 2009-2010 unless stated otherwise. Amounts are mentioned in Rupees.

2 Public Issue Account of Rs. 3,500/- (2009-2010 Rs. 3,500/-) is subject to reconciliation and confirmation.

3 Company had given an advance of Rs. 289,930/- (2009-2010 Rs. 289,930/-) during the financial year 1999-2000 to 'Kanpur Nagar Mahapalika' for conversion of leasehold land into freehold land. However, the said effect has not yet been given.

4 Creditors of Rs. 330.00/- (2009-2010-Rs. 750,820.85) have been written back during the year.

5 There were no Micro and Small enterprises to whom amounts are outstanding for more than 45 days, as at March 31st, 2011 (Previous Year Rs. Nil). As at March 31, 2011, no supplier has intimated the company about its status as Micro and Small enterprises or its registration with the appropriate authority under The Micro, Small and Medium Enterprises Development Act, 2006.

6 Confirmation from Debtors, Creditors and advances to and from various parties were not received and their balances are shown as appearing in the accounts.

7 During the year, there were no expenditure and/ or earnings in foreign exchange.

d) During the year, no amount receivable/payable from/to related parties has been written off/written back.

8 Information pursuant to the provisions of paragraphs 3,4C, 4D of part II of Schedule VI of the Companies Act, 1956 are not applicable.

9 (a) Pursuant To Accounting Standard -17 on "Segment Reporting" issued by the Institute of Chartered Accountants of India, Retailing, Agency and Real Estate are considered three business segments whereas other remaining activities are considered as un-allocable segment.

(C) Segment Revenue, Segment Results, Segment Assets and Segment Liabilities include the respective amounts identifiable to each of the segment. The expenses, which are not directly relatable to the business segment, are shown as unallocated cost. Assets and Liabilities, which cannot be allocated between the segments, are shown as unallocated assets and liabilities respectively.

10 Pending actuarial valuation for gratuity as per AS-15 issued by The ICAI, the company has provided liability for Gratuity amounting to Rs. 117,865/- (2009-2010 Rs. 201,617/-) during the year. However, the company has not actually paid any sum by way of gratuity during the year.

11 In the opinion of the management, the current assets, loans and advances have a value on realization in the ordinary course of the business at least equal to the amount at which they are stated in the balance sheet.

12 Balance Sheet Abstract and Company's General Business Profile (in terms of amendment to Part IV of Schedule VI to the Companies Act, 1956) is annexed herewith.

13 Contingent liabilities not provided for in respect of:

The Hon'ble Income Tax Appellate Tribunal, New Delhi has decided the appeal in favour of the company vide its order No. ITA No. 1917/Del of 2007 dated August 29, 2008 thereby canceling the demand of Rs. 21.63 Lakh for the assessment year 2002-2003. Therefore, the tax deposited by the company against this demand to the extent of Rs. 9,00,000/- has become due for refund along with necessary interest thereon. However, the Income Tax Department has preferred an appeal against the said order before Hon'ble Delhi High Court for which the proceedings are yet to begin.

14 Schedules 'A' to 'L' form an integral part of the Balance Sheet and Profit and Loss Account has been duly authenticated.

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Mar 31, 2010

I. NATURE OF OPERATION

RTCL Limited (The "Company") is mainly engaged in Real Estate including renting activities.

1. Previous years figures have been regrouped, recast, rearranged wherever necessary to conform to this years clas- sification. Figures in bracket represent figures pertaining to financial year 2006-2009 unless stated otherwise Amounts are mentioned in Rupees.

2. Public Issue Account of Rs. 3,500;- (2006-2009 Rs. 3,500;-) is subject to reconciliation and confirmation.

3. Company had given an advance of Rs. 269,930;- (2006-2009 Rs. 289.930;-) during the financial year 1999-2000 to Kanpur Nagar MahapaIika for conversion of leasehold land into freehold land. However, the said effect has not yet been given.

4. Creditors of Rs. 750,620.65 (2006-2009-Rs. 247,207.13) have been written back during the year.

5. There were no Micro and Small enterprises to whom amounts are outstanding for more than 45 days, as at March 31, 2010 (Previous Year Rs. Nil). As at March 31, 2010, no supplier has intimated the company about its status as Micro and Small enterprises or its registration with the appropriate authority under The Micro, Small and Medium Enterprises Development Act, 2006.

7. Confirmation from Debtors, Creditors and advances to and from various parties were not received and their balances are shown as appearing in the accounts.

8. During the year, there were no expenditure and/or earnings in foreign exchange.

12. Related Part/Disclosures:

a} Following are related parties:

[a] Key Management Personnel

Mr. Om Prakash Agrawal Director

Mr. Brijesh Katiyar: Director

(b) Individuals and their relatives having significant influence over the company

Mr. Om PrakashAgrawal Mrs. Alka Dalmia (Wife of Director) Mr. Yuvraj Dalmia (Son of Director) Mr. Pulkit Dalmia (Son of Director)

[c] Enterprises that control or are controlled by the company, its directors and persons having significant influence over the company

P. J. Softwares Limited

Raghunath Builders Private Limited

Sir Bio Tech India Limited

Raghunath Holdings and Finlease Limited

Eternity Township Private Limited

RPA Buildestate Private Limited

Sunflower Durabuild Private Limited

New Wave Dwellers Private Limited

Everbright Infradevebpers Private Limited

Mandakini Motels Private Limited

RTC Real Estate Private Limited

14.
(c) Segment Revenue. Segment Results, Segment Assets and Segment Liabilities include the respective amounts identifiable to each of the segment. The expenses. which are not directly relatable to the business segment, are shown as unallocated cost. Assets and Liabilities, which cannot be allocated between the segments, are shown as unallocated assets and liabilities respectively.

15. The company has invested an amount of Rs. 100.000/- [Rupees One Lakh only) with RTC Real Estate Private Limited on 25.09.2008 during the previous year 2008-09 through one of its director. The transaction, however, has been re- flected during the current year on completion of necessary documentation.

16. Pending actuarial vaIuation for gratuity as per AS-15 issued by The ICAI, the company has provided liability for Gratuity amounting to Rs. 201,617/- (2008-2009 Rs. 36,365/-) during the year. However, the company has not actually paid any sum by way of gratuity during the year.

18. In the opinion of the management, the current assets, loans and advances have a value on realization in the ordinary course of the business at least equal to the amount at which they are stated in the balance sheet.

19. Balance Sheet Abstract and Companys General Business Profile fin terms of amendment to Part IV of Schedule VI to the Companies Act. 1956) is annexed herewith.

20. Contingent liabilities not provided for in respect of:

The Honble Income Tax Appellate Tribunal. New Delhi has decided the appeal in favour of the company vide its order No. ITA No. 1917/Del of 2007 dated August 29 2008 thereby canceling the demand of Rs. 21.63 Lakh for the assessment year 2002-2003. Therefore, the tax deposited by the company against this demand to the extent of Rs. 9,00,000/- has become due for refund alongwith necessary interest thereon. However, the Income Tax Department has preferred an appeal against the said order before Honble Delhi High Court for which the proceedings are yet to begin.

21. Schedules A to L form an integral part of the Balance Sheet and Profit and Loss Account has been duly authenticated.