Notes to Accounts of Shri Krishna Devcon Ltd.

Mar 31, 2024

2.17 Provisions and contingencies

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. 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.

31 Financial risk management objectives and policies

The risk management policies of the Company are established to identify and analyse the risks faced by the Company, to set appropriate risk limits and controls, and to monitor risks and adherence to limits. Risk management policies and systems are reviewed regularly to reflect changes in market conditions and the Company''s activities. The Management has overall responsibility for the establishment and oversight of the Company''s risk management framework. In performing its operating, investing and financing activities, the Company is exposed to the Credit risk, Liquidity risk and Market risk.

a) Credit risk

Credit risk is the risk of financial loss to the company if a customer or counter-party fails to meet its contractual obligations.

Trade Receivables

The Company''s trade receivables does not have any expected credit risk as these receivables are related to sales of properties. No Impairment is observed on the carrying value of trade receivables Other financial assets

The company''s maximum exposure to credit risk as at 31 March 2024 and 31 March 2023 is the carrying value of each class of financial assets.

b) Liquidity risk

Liquidity risk is the risk that the Company will encounter difficulty in meeting the obligations associated with its financial liabilities that are settled by delivering cash or another financial asset. The Company''s approach to managing liquidity is to ensure, as far as possible, that it will have sufficient liquidity to meet its liabilities when they are due, under both normal and stressed conditions, without incurring unacceptable losses or risking damage to the Company''s reputation. It maintains adequate sources of financing from related parties & other sources at an optimised cost.

The Company maximum exposure to liquidity risk for the components of the balance sheet at 31 March 2024 and 31 March 2023 is the carrying amounts. The liquidity risk is managed on the basis of expected maturity dates of the financial liabilities. The average credit period taken to settle trade payables is about 30 to 90 days. Borrowings from related parties is considered as payable on demand since there is no fixed repayment schedule although these related parties are always ready to assists to company in any adverse liquidity situations. The other payables are with short-term durations. The following table analysis financial liabilities by remaining contractual maturities:

c) Market risk

Market risk is the risk that the fair value or future cash flows of a financial instrument will fluctuate because of changes in market prices. Market risk comprises of three types of risks: interest rate risk, currency rate risk and price risk. Financial instruments affected by market risk includes borrowings, Investment, loans and trade receivables. The Company is exposed to Interest rate risks and price risks. i) Interest rate risk

The interest rate risk exposure is mainly from changes in fixed and floating interest rates. the company have fixed interest bearing financial instruments. The Management is responsible for the monitoring of the Company''s interest rate position. Various variables are considered by the Management in structuring the Company''s borrowings to achieve a reasonable, competitive, cost of funding.

The following table demonstrates the sensitivity to a possible change in floating interest rates on that portion of borrowings outstanding at the balance sheet date. With all other variables held constant, the Company''s profit before tax is affected through the impact on floating rate borrowings, as follows:_

32 Capital management

Equity share capital and other equity are considered for the purpose of Company''s capital management.

The Company manages its capital so as to safeguard its ability to continue as a going concern and to optimise returns to shareholders. The capital structure of the company is based on management''s judgement of its strategic and day-to-day needs with a focus on total equity so as to maintain investor, creditors and market confidence.

The management and the board of directors monitors the return on capital. The Company may take appropriate steps in order to maintain, or if necessary adjust, its capital structure.

39 In the opinion of Board, Current Assets, Loans & Advances are approximately at fair value which are stated in the Balance Sheet.

40 The figures of borrowings, trade receivable, Trade Payables and Loans & Advances are subject to confirmation and reconciliation, wherever required.

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

42 Additional Regulatory Information

(i) The Company has not revalued its Property, Plant and Equipment during the year.

(ii) The company has not granted Loans or Advances in the nature of loans to promoters, directors, KMPs and the related parties (as defined under Companies Act, 2013), either severally or jointly with any other person during the year.

(iii) The Company has not been declared wilful defaulter by any bank or financial institution or other lender or government or any government authority.

(iv) The company has no transactions or outstanding balance (payable or receivable) with companies struck off under section 248 of the Companies Act, 2013 or section 560 of Companies Act, 1956 except below struck off companies are equity shareholders of the Company as on the Balance Sheet date

(v) The Company does not have any benami property held in its name. 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.

(vi) The Company has complied with the requirement with respect to number of layers as prescribed under section 2(87) of the Companies Act, 2013 read with the Companies (Restriction on number of layers) Rules, 2017.

(vii) Utilisation of borrowed funds and share premium

I. The Company has not advanced or loaned or invested funds to any other person(s) or entity (ies), including foreign entities (Intermediaries) with the understanding that the Intermediary shall:

a) Directly or indirectly lend or invest in other persons or entities identified in any manner whatsoever by or on behalf of the Company (Ultimate Beneficiaries) or

(b) Provide any guarantee, security or the like to or on behalf of the ultimate beneficiaries.

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

(a) directly or indirectly lend or invest in other persons or entities identified in any manner whatsoever by or on behalf of the Funding Party (Ultimate Beneficiaries) or

(b) provide any guarantee, security or the like on behalf of the ultimate beneficiaries

(viii) There is no income surrendered or disclosed as income during the year in tax assessments under the Income Tax Act, 1961 (such as search or survey), that has not been recorded in the books of account.

(ix) The Company has not traded or invested in crypto currency or virtual currency during the year

(x) The Company does not have any charges or satisfaction of charges which is yet to be registered with Registrar of Companies beyond the statutory period.

44 Disclosure on Corporate Social Responsibility Expense:

As per provisions of section 135 of the Companies Act, 2013, the Company has to incur at least 2% of average net profits of the preceding three financial years towards Corporate Social Responsibility ("CSR"). Details CSR are as below: 44 The financial statements are approved for issue by the Audit Committee and the Board of Directors at their respective meetings conducted on 30th May, 2024.

As per our report of even date attached.

For Khandelwal & Khandelwal Associates For and on behalf of the Board of Directors

Chartered Accountants Shri Krishna Devcon Limited

(Firm Registration No. 008389C)

Sunil Kumar Jain Mukesh Kumar Jain CA. Durgesh Khandelwal (Managing Director) (Director)

Partner DIN: 00101324 DIN: 00392364

M. No. 077390

Vikas Kumar Jain Neeraj Anjane

Place: Indore (Chief Financial Officer) (Company Secretary)

Date: May 30, 2024 M. No. A37072

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Mar 31, 2023

2.17 Provisions and contingencies

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. 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.

Note 16.2 Terms of repayment and security

(A) Overdraft limit from State bank of India

(i) Collateral Security: Equitable Mortgage of freehold 15 open plots bearing Nos. 284 to 290, 308 to 312, 319, 322 and 334 at Shrikrishna Avenue, Phase-I, Limbodi, Indore.

(ii) Personal Guarantee of some of directors of the company Repayment

Loan is repayable by 92 Monthly installments which consist of 12 installments of Rs. 4 Lakhs each, 58 installments of Rs. 5 Lakhs each, 14 installments of Rs. 4 Lakhs each 7 installments of Rs. 3 Lakhs each and 1 installment of Rs. 4 Lakhs commenced from December 2016 for the principal amount.

(B) GECL Loan from State bank of India

(i) Collateral Security: Equitable Mortgage of freehold 15 open plots bearing Nos. 284 to 290, 308 to 312, 319, 322 and 334 at Shrikrishna Avenue, Phase-I, Limbodi, Indore.

(ii) Personal Guarantee of some of directors of the company Repayment

Loan is repayable by 36 Monthly installments of Rs. 2.50 Lakhs each for the principal amount. Installments will commence from December 2023.

(C) Vehicle Loan from HDFC Bank

Security:

Loan is secured by hypothecation of respective vehicle.

Repayment

Loan is repayable by 36 Monthly installments of Rs. 0.42 Lakhs each commenced from January 2021 for the principal and interest amount.

(D) Vehicle Loan from Axis Bank

Security:

Loan is secured by hypothecation of respective vehicle.

Repayment

Loan is repayable by 60 Monthly installments of Rs. 1.17 Lakhs each commenced from April 2019 for the principal and interest amount.

(E) Vehicle Loan from Axis Bank

Security:

Loan is secured by hypothecation of respective vehicle.

31 Financial risk management objectives and policies

The risk management policies of the Company are established to identify and analyse the risks faced by the Company, to set appropriate risk limits and controls, and to monitor risks and adherence to limits. Risk management policies and systems are reviewed regularly to reflect changes in market conditions and the Company''s activities. The Management has overall responsibility for the establishment and oversight of the Company''s risk management framework. In performing its operating, investing and financing activities, the Company is exposed to the Credit risk, Liquidity risk and Market risk.

a) Credit risk

Credit risk is the risk of financial loss to the company if a customer or counter-party fails to meet its contractual obligations.

Trade Receivables

The Company''s trade receivables does not have any expected credit risk as these receivables are related to sales of properties. No Impairment is observed on the carrying value of trade receivables Other financial assets

The company''s maximum exposure to credit risk as at 31 March 2023 and 31 March 2022 is the carrying value of each class of financial assets.

b) Liquidity risk

Liquidity risk is the risk that the Company will encounter difficulty in meeting the obligations associated with its financial liabilities that are settled by delivering cash or another financial asset. The Company''s approach to managing liquidity is to ensure, as far as possible, that it will have sufficient liquidity to meet its liabilities when they are due, under both normal and stressed conditions, without incurring unacceptable losses or risking damage to the Company''s reputation. It maintains adequate sources of financing from related parties & other sources at an optimised cost.

The Company maximum exposure to liquidity risk for the components of the balance sheet at 31 March 2023 and 31 March 2022 is the carrying amounts. The liquidity risk is managed on the basis of expected maturity dates of the financial liabilities. The average credit period taken to settle trade payables is about 30 to 90 days. Borrowings from related parties is considered as payable on demand since there is no fixed repayment schedule although these related parties are always ready to assists to company in any adverse liquidity situations. The other payables are with short-term durations. The following table analysis financial liabilities by remaining contractual maturities:

c) Market risk

Market risk is the risk that the fair value or future cash flows of a financial instrument will fluctuate because of changes in market prices. Market risk comprises of three types of risks: interest rate risk, currency rate risk and price risk. Financial instruments affected by market risk includes borrowings, Investment, loans and trade receivables. The Company is exposed to Interest rate risks and price risks. i) Interest rate risk

The interest rate risk exposure is mainly from changes in fixed and floating interest rates. the company have fixed interest bearing financial instruments. The Management is responsible for the monitoring of the Company''s interest rate position. Various variables are considered by the Management in structuring the Company''s borrowings to achieve a reasonable, competitive, cost of funding.

The following table demonstrates the sensitivity to a possible change in floating interest rates on that portion of borrowings outstanding at the balance sheet date. With all other variables held constant, the Company''s profit before tax is affected through the impact on floating rate borrowings, as follows:

32 Capital management

Equity share capital and other equity are considered for the purpose of Company''s capital management.

The Company manages its capital so as to safeguard its ability to continue as a going concern and to optimise returns to shareholders. The capital structure of the company is based on management''s judgement of its strategic and day-to-day needs with a focus on total equity so as to maintain investor, creditors and market confidence.

The management and the board of directors monitors the return on capital. The Company may take appropriate steps in order to maintain, or if necessary, adjust, its capital structure.

42 Additional Regulatory Information

(i) The Company has not revalued its Property, Plant and Equipment during the year.

(ii) The company has not granted Loans or Advances in the nature of loans to promoters, directors, KMPs and the related parties (as defined under Companies Act, 2013), either severally or jointly with any other person during the year.

(iii) The Company has not been declared wilful defaulter by any bank or financial institution or other lender or government or any government authority.

(v) The Company does not have any benami property held in its name. 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.

(vi) The Company has complied with the requirement with respect to number of layers as prescribed under section 2(87) of the Companies Act, 2013 read with the Companies (Restriction on number of layers) Rules, 2017.

(vii) Utilisation of borrowed funds and share premium

I. The Company has not advanced or loaned or invested funds to any other person(s) or entity (ies), including foreign entities (Intermediaries) with the understanding that the Intermediary shall:

a) Directly or indirectly lend or invest in other persons or entities identified in any manner whatsoever by or on behalf of the Company (Ultimate Beneficiaries) or

(b) Provide any guarantee, security or the like to or on behalf of the ultimate beneficiaries.

II. The Company has not received any fund from any person(s) or entity(ies), including foreign entities (Funding Party) with the

understanding (whether recorded in writing or otherwise) that the Company shall:

(a) directly or indirectly lend or invest in other persons or entities identified in any manner whatsoever by or on behalf of the Funding Party (Ultimate Beneficiaries) or

(b) provide any guarantee, security or the like on behalf of the ultimate beneficiaries

(viii) There is no income surrendered or disclosed as income during the year in tax assessments under the Income Tax Act, 1961 (such as search or survey), that has not been recorded in the books of account.

(ix) The Company has not traded or invested in crypto currency or virtual currency during the year

(x) The Company does not have any charges or satisfaction of charges which is yet to be registered with Registrar of Companies beyond the statutory period.

43 The fi nancial statements are approved for issue by the Audit Committee and the Board of Directors at their respective meetings conducted on 30th May, 2023.

As per our report of even date attached.

For Khandelwal & Khandelwal Associates For and on behalf of the Board of Directors

Chartered Accountants Shri Krishna Devcon Limited

(Firm Registration No. 008389C)

Sunil Kumar Jain Naveen Kumar Jain CA. Durgesh Khandelwal (Managing Director) (Director)

Partner DIN: 00101324 DIN: 00117876

M. No. 077390 Place: Indore Place: Indore

Place: Indore

Vikas Kumar Jain Neeraj Anjane

(Chief Financial Officer) (Company Secretary) Date: May 30, 2023 Place: Indore Place: Indore

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Mar 31, 2018

1 Corporate information

“Shri Krishna Devcon Limited [‘the Company or ‘SKDL’) is a real estate developer engaged in the business of construction, development of townships, housing projects, commercial premises and other related activities.The Company is a public limited company incorporated and domiciled in India and has its registered office at Mumbai, Maharashtra, India. Its shares are listed on Bombay Stock Exchange [BSE).”

2 First time adoption of lNDAS

The Company has adopted Indian Accounting Standards (Ind AS) as notified by the Ministry of Corporate Affairs with effect from 1st April, 2017, with a transition date of 1st April, 2016. These financial statements for the year ended 31st March, 2018 are the first financial statements the Company has prepared under Ind AS. For all periods upto and including the year ended 31st March, 2017 , the Company prepared its financial statements in accordance with the accounting standards notified under the section 133 of the Companies Act 2013, read together with paragraph 7 of the Companies (Accounts) Rules, 2014 (‘Previous GAAP’).

The adoption of Ind AS has been carried out in accordance with Ind AS 101, First-time Adoption of Indian Accounting Standards. Ind AS 101 requires that all Ind AS standards and interpretations that are issued and effective for the first Ind AS financial statements be applied retrospectively and consistently for all financial years presented. Accordingly, the Company has prepared financial statements which comply with Ind AS for year ended 31st March, 2018, together with the comparative information as at and for the year ended 31st March, 2017 and the opening Ind AS Balance Sheet as at 1st April, 2016, the date of transition to Ind AS.

In preparing these Ind AS financial statements, the Company has availed certain exemptions and exceptions in accordance with Ind AS 101, as explained below. The resulting difference between the carrying values of the assets and liabilities in the financial statements as at the transition date under Ind AS and Previous GAAP have been recognised directly in other equity. This note explains the adjustments made by the Company in restating its financial statements prepared under previous GAAP, including the Balance Sheet as at 1st April, 2016 and the financial statements as at and for the year ended 31st March, 2017.

2.1 Optional Exemptions from retrospective application

Ind AS 101 permits first-time adopters certain exemptions from retrospective application of certain requirements under Ind AS. The Company has elected to apply the following optional exemptions from retrospective application:

(i) Business combinations

Ind AS 103 Business Combinations has not been applied to acquisitions of subsidiaries, or of interests in associates and joint ventures and transactions which are considered businesses for Ind AS, that occurred before 1st April, 2016. The carrying amounts of assets and liabilities in accordance with Previous GAAP are considered as their deemed cost at the date of acquisition. After the date of the acquisition, measurement is in accordance with Ind AS.

(ii) Deemed cost for property, plant and equipment and intangible assets

The Company has elected to measure all its property, plant and equipment and intangible assets at the Previous GAAP carrying amount as its deemed cost on the date of transition to Ind AS.

(iii) Investments in subsidiary ana associates

The Company has elected to measure its investments in subsidiaries and associates at the Previous GAAP carrying amount as its deemed cost on the date of transition to Ind AS.

2.2 Mandatory Exceptions from retrospective application

The Company has applied the following exceptions to the retrospective application of Ind AS as mandatorily required under Ind AS 101:

(i) Estimates

On assessment of the estimates made under the Previous GAAP financial statements, the Company has concluded that there is no necessity to revise the estimates under Ind AS, as there is no objective evidence of an error in those estimates.

(ii) Classification and measurement of financial assets

The classification of financial assets to be measured at amortised cost or fair value through other comprehensive income is made on the basis of the facts and circumstances that existed on the date of transition to Ind AS.

2.3 Transition to Ind AS - Reconciliations

The following reconciliations provide the explanations and quantification of the differences arising from the transition from Previous GAAP to Ind AS in accordance with Ind AS 101:

I Reconciliation of Equity as at 1st April, 2016

II A. Reconciliation of Equity as at 31st March, 2017

B. Reconciliation of Statement of Profit and Loss for the year ended 31st March, 2017

Previous GAAP figures have been reclassified / regrouped wherever necessary to conform with financial statements prepared under Ind AS.

Note 3.1 Terms/ rights attached to equity shares

The Company has only one class of equity shares having a par value of ?10 per share. Each holder of equity shares is entitled to one vote per share. In event of liquidation of the Company, the holders of equity shares would be entitled to receive remaining assets of the Company, after distribution of all preferential amounts. The distribution will be in proportion to the number of equity shares held by the shareholders.

Note 3.2 Terms of repayment and security

(A) Dropline overdraft limit from State bank of lndia(First)

Security:

(i) Personal Guarantee of some of directors of the company Repayment

Loan is repayable by 76 Monthly installments which consist of 3 installments of Rs. 462000/- each, 11 installments of Rs. 576900/- each, 1 installment of Rs. 122100/- and 60 installments of Rs. 462000/- each and last 1 installment of Rs. 426000/commenced from January 2016 for the principal amount.

(B) Dropline overdraft limit from State bank of lndia(Second)

(i) Collateral Security: Equitable Mortgage of freehold 18 open plots bearing Nos. 284 to 290, 308 to 312, 319 to 322, 331 and 334 at shrikrishna Avenue, Phase-1, Limbodi, Indore.

(ii) Personal Guarantee of some of directors of the company Repayment

Loan is repayable by 92 Monthly installments which which consist of 12 installments of Rs. 400000/- each, 58 installments of Rs. 500000/- each, 14 installments of Rs. 400000/- each 7 installments of Rs. 300000/- each and 1 installments of Rs. 400000/- commenced from December 2016 for the principal amount.

(C) Vehicle Loan from HDFC Bank Security:

Loan is secured by hypothecation of respective vehicle.

Repayment

Loan is repayable by 48 Monthly installments of Rs. 99710/- each commenced from June 2016 for the principal and interest amount.

Note 4 Disclosures required under Section 22 ofthe Micro, Small and Medium Enterprises Development Act, 2006

Based on the information available with the Company, there are no suppliers who are registered as micro, small or medium enterprises under “The Micro, Small and Medium Enterprises Development Act, 2006” as at March 31,2018.

iv) Fair Value hierarchy

The fair value of financial instruments have been classified into three categories depending on the inputs used in the valuation technique. The hierarchy gives the highest priority to quoted prices in active markets for identical assets or liabilities [Level 1 measurements) and lowest priority to unobservable inputs (Level 3 measurements).

The categories used are as follows:

Level 1: Quoted prices for identical instruments in an active market;

Level 2: Directly or indirectly observable market inputs, other than Level 1 inputs; and Level 3: Inputs which are not based on observable market data.

The following tables provides the fair value measurement hierarchy ofthe Company’s financial assets

Note 5 Financial risk management objectives and policies

The risk management policies of the Company are established to identify and analyse the risks faced by the Company, to set appropriate risk limits and controls, and to monitor risks and adherence to limits. Risk management policies and systems are reviewed regularly to reflect changes in market conditions and the Company’s activities.The Management has overall responsibility for the establishment and oversight ofthe Company’s risk management framework. In performing its operating, investing and financing activities, the Company is exposed to the Credit risk, Liquidity risk and Market risk.

a) Credit risk

Credit risk is the risk of financial loss to the company if a customer or counter-party fails to meet its contractual obligations. Trade Receivables

The Company’s trade receivables does not have any expected credit risk as these receivables are related to sales of properties.

No Impairment is observed on the carrying value of trade receivables.

“Other financial assets”

The company’s maximum exposure to credit risk as at 31 March 2018,31 March 2017 and at 01 April 2016 is the carrying value of each class of financial assets.

b) Liquidity risk

Liquidity risk is the risk that the Company will encounter difficulty in meeting the obligations associated with its financial liabilities that are settled by delivering cash or another financial asset. The Company’s approach to managing liquidity is to ensure, as far as possible, that it will have sufficient liquidity to meet its liabilities when they are due, under both normal and stressed conditions, without incurring unacceptable losses or risking damage to the Company’s reputation. It maintains adequate sources of financing from related parties & other sources at an optimised cost.

The Company maximum exposure to liquidity risk for the components ofthe balance sheet at 31 March 2018, 31 March 2017 and 01 April 2 016 is the carrying amounts. The liquidity risk is managed on the basis of expected maturity dates ofthe financial liabilities. The average credit period taken to settle trade payables is about 30 to 90 days. Borrowings from related parties is considered as payable on demand since there is no fixed repayment schedule although these related parties are always ready to assists to company in any adverse liquidity situations. The other payables are with short-term durations. The following table analysis financial liabilities by remaining contractual maturities:

c) Market risk

Market risk is the risk that the fair value or future cash flows of a financial instrument will fluctuate because of changes in market prices. Market risk comprises of three types of risks: interest rate risk, currency rate risk and price risk. Financial instruments affected by market risk includes borrowings, Investment, loans and trade receibles. The Company is exposed to Interest rate risks and price risks,

i) Interest rate risk

The interest rate risk exposure is mainly from changes in fixed and floating interest rates, the company have fixed interest bearing financial struments. The Management is responsible for the monitoring ofthe Company’s interest rate position. Various variables are considered by the Management in structuring the Company’s borrowings to achieve a reasonable, competitive, cost offunding.

The following table demonstrates the sensitivity to a possible change in floating interest rates on that portion of borrowings outstanding at the balance sheet date. With all other variables held constant, the Group’s profit before tax is affected through the impact on floating rate borrowings, as follows:

ii) Price risk

The Company is mainly exposed to the price risk due to its investment in equity instrument. The price risk arises due to uncertainties aboutthe future market values ofthese investments.

Note 6 Capital management

Equity share capital and other equity are considered for the purpose of Company’s capital management.

The Company manages its capital so as to safeguard its ability to continue as a going concern and to optimise returns to shareholders. The capital structure ofthe company is based on management’s judgement of its strategic and day-to-day needs with a focus on total equity so as to maintain investor, creditors and market confidence.

The management and the board of directors monitors the return on capital. The Company may take appropriate steps in order to maintain, or if necessary adjust, its capital structure.

Note 7

The Company has not made any provisions towards gratuity and other retirement benefits as in view ofthe management, no provision are required to be made.

Note 8

In the opinion of Board, Current Assets, Loans & Advances are approximately at fair value which are stated in the Balance Sheet.

Note 9

The figures of borrowings, trade receivable, Trade Payables and Loans & Advances are subject to confirmation and reconciliation, wherever required.

Note 10

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, 2016

1. Terms/ rights attached to equity shares

The Company has only one class of equity shares having a par value of Rs.10 per share. Each holder of equity shares is entitled to one vote per share. In event of liquidation of the Company, the holders of equity shares would be entitled to receive remaining assets of the Company, after distribution of all preferential amounts. The distribution will be in proportion to the number of equity shares held by the shareholders.

2. Primary Security: Hypothecation of Current Assets of the project comprising of building material, equipments, book debts and other current assets owned by the company for the project, both present and future.

3. Collateral Security: Equitable Mortgage of freehold admeasuring 12000 sq. ft. situated at Plot No. 4, Pratap Nagar, Manik Bagh Road, Indore.

4. Personal Guarantee of some of directors of the company Repayment

5. Monthly installments of Rs. 462000 each and last installment of Rs. 426000 commenced from December 2015 for the principal amount.

Note 6

The Company has not made any provisions towards gratuity and other retirement benefits as in view of the management, no provision are required to be made.

Note 7

In the opinion of Board, Current Assets, Loans & Advances are approximately of value which are stated in the Balance Sheet if realized in the ordinary course of business.

Note 8

The figures of trade receivable, Trade Payables and Loans & Advances are subject to confirmation and reconciliation, wherever required.

Note 9 Previous year''s figures

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, 2015

Note 1

The Company has not made any provisions towards gratuity and other retirement benefits as in view of the management, no provision are required to be made.

Note 2

In the opinion of Board, Current Assets, Loans & Advances are approximately of value which are stated in the Balance Sheet if realised in the ordinary course of business.

Note 3

The figures of trade receivable, Trade Payables and Loans & Advances are subject to confirmation and reconciliation, wherever required.

Note 4 Previous year's figures

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

1. Corporate information

Shri Krishna Devcon Limited (''the Company or ''SKDL'') is a real estate developer engaged in the business of construction, development of townships, housing projects, commercial premises and other related activities.

Note 2. Terms/ rights attached to equity shares

The Company has only one class of equity shares having a par value of Rs. 10 per share. Each holder of equity shares is entitled to one vote per share. In event of liquidation of the Company, the holders of equity shares would be entitled to receive remaining assets of the Company, after distribution of all preferential amounts. The distribution will be in proportion to the number of equity shares held by the shareholders.

Note 3. Valuation of investment in quoted equity shares

The management of the Company is of the opinion that the decline in the market value of its investments is temporary in nature and hence, has valued the investment on "cost" basis. No provision has been made for the difference between cost and market value of the Investments.

Note 4. Contingent Liabilities (to the extent not provided for)

As at As at 31st March, 2014 31st March, 2013 Particulars Rs. Rs.

Guarantees issued by Bank 5,460,000 5,350,000

Note 5. Disclosures required under Section 22 of the Micro, Small and Medium Enterprises Development Act, 2006

Based on the information available with the Company, there are no suppliers who are registered as micro, small or medium enterprises under'' The Micro, Small and Medium Enterprises Development Act, 2006" as at March 31,2014.

Note 6.

The Company has not made any provisions towards gratuity and other retirement benefits as in view of the management, no provision are required to be made.

Note 7.

In the opinion of Board, Current Assets, Loans & Advances are approximately of value which are stated in the Balance Sheet if realised in the ordinary course of business.

Note 8.

The figures of trade receivable, Trade Payables and Loans & Advances are subject to confirmation and reconciliation, wherever required.

Note 9. Previous year''s figures

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 Corporate information

Shri Krishna Devcon Limited (''the Company or ''SKDL'') is a real estate developer engaged in the business of construction, development of townships, housing projects, commercial premises and other related activities.

Note 2 Contingent Liabilities (to the extent not provided for)

As at 31 March, 2013 As at 31 March, 2012 Particulars

Guarantees issued by Bank 5,350,000 4,500,000

Note 3 Disclosures required under Section 22 of the Micro, Small and Medium Enterprises Development Act, 2006

Based on the information available with the Company, there are no suppliers who are registered as micro, small or medium enterprises under "The Micro, Small and Medium Enterprises Development Act, 2006" as at March 31, 2013.

Note 4

The Company has not made any provisions towards gratuity and other retirement benefits as in view of the management, no provision are required to be made.

Note 5

In the opinion of Board, Current Assets, Loans & Advances are approximately of value which are stated in the Balance Sheet if realised in the ordinary course of business.

Note 6

The figures of trade receivable, Trade Payables and Loans & Advances are subject to confirmation and reconciliation, wherever required.

Note 7 Previous year''s figures

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 Corporate information

Shri Krishna Devcon Limited ('the Company or 'SKDL') is a real estate developer engaged in the business of construction, development of townships, housing projects, commercial premises and other related activities.

Note 2.1 Terms/ rights attached to equity shares

The Company has only one class of equity shares having a par value of Rs.10 per share. Each holder of equity shares is entitled to one vote per share. In event of liquidation of the Company, the holders of equity shares would be entitled to receive remaining assets of the Company, after distribution of all preferential amounts. The distribution will be in proportion to the number of equity shares held by the shareholders.

Note 3.1 Valuation of investment in quoted equity shares

The management of the Company is of the opinion that the decline in the market value of its investments is temporary in nature and hence, has valued the investment on "cost" basis. No provision has been made for the difference between Cost and market value of the Investments.

Note 4 Contingent liabilities (to the extent not provided for)

As at 31 March, 2012 As at 31 March, 2011

Particulars

Guarantees issued by Bank 4,500,000.00 4,250,000.00

Note 5 Disclosures required under Section 22 of the Micro, Small and Medium Enterprises Development Act, 2006

Based on the information available with the Company, there are no suppliers who are registered as micro, small or medium enterprises under "The Micro, Small and Medium Enterprises Development Act, 2006" as at March 31, 2012.

Note 6

The Company has not made any provisions towards gratuity and other retirement benefits as no provision is required to be made in view of the fact that none of the employees have put in required number of years of service with the company.

Note 7

In the opinion of Board, Current Assets, Loans & Advances are approximately of value which are stated in the Balance Sheet if realised in the ordinary course of business.

Note 8

The figures of Sundry Debtors, Sundry Creditors and Loans & Advances are subject to confirmation and reconciliation, wherever required.

Note 9 Previous year's 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) Contingent Liabilities not provided for:

PARTICULARS 31.03.2010 31.03.2009 Rs. Rs.

Guarantee issued by Bank 4,200,000.00 5,00,000.00

2) Deferred Tax:

The Company estimates deferred tax assets/ liabilities using the applicable rate of taxation based on the impact of timing difference between financial statements and estimated taxable income for the current year.

Deferred tax liability for the year aggregating to Rs 41,967/- has been recognised in Profit & Loss Account.

3) Determination of revenues under percentage of completion method necessarily involves making various estimates by the management which being of technical nature have been relied upon by the auditors.

4) Capital commitment Rs. NIL. (Previous Year Rs. NIL)

5) Earning in foreign currency Rs. NIL. (Previous Year Rs.NIL)

6) Expenditure in foreign currency Rs. NIL. (Previous Year Rs. NIL)

7) The management of the Company is of the opinion that the decline in the market value of its investments is temporary in nature and hence has valued the investment on "cost" basis. No provision has been made for the difference between Cost and market value of the Investments.

8) As the company is not manufacturing any items, the additional information pursuant to part II-B of Schedule VI of the Companies Act, 1956 has not been furnished.

9) The Company has not made any provisions towards gratiuty and other retirement benefits as no provision is required to be made in view of the fact that none of the employees have put in required number of years of service with the company.

10) In the opinion of Board, Current Assets, Loans & Advances are approximately of value which are stated in the Balance Sheet if realised in the ordinary course of business.

11) The figures of Sundry Debtors, Sundry Creditors and Loans & Advances are subject to confirmation and reconciliation, wherever required.

12) RELATED PARTY DISCLOSURES:

Information on related party transactions as required by Accounting Standard -18 for the year ended 31st March, 2010 are as follows:

List of Related Parties :

A) Key Management Personnel Designation

1) Mr. Sunil Jain Managing Director

2) Mr. Mukesh Jain Wholetime Director

3) Mr. Naveen Jain Wholetime Director

B) Enterprise owned or significantly influenced by key management personnel or their relatives

1) Navkar Finvest Ltd.

2) Shree Vrajraj Developers Pvt. Ltd.

3) Shreedhi Developers Pvt. Ltd.

4) Shreedhar Developers Pvt. Ltd.

5) NPS Investment Pvt. Ltd.

6) Manokesh Mines & Minerals Pvt. Ltd.

7) SKDL Developers Pvt. Ltd.

8) CSM Developers Pvt. Ltd.

9) M/s Avani Proteins

10) M/s Mukesh Proteins

11) M/s Mukesh Jain

12) M/s Bollywood Collection

13) M/s Royal Krishna Collection

14) M/s Bollywood Automobiles

C) Relatives of Key Management Personnel

1) Mrs. Anjana Jain

2) Mrs. Sangeeta Jain

3) Mrs. Surabhi Jain

4) Mr. Keshrimal Jain

5) Mrs. Manorama Jain

13) The Company did not have any transactions with Small Scale Industrial (SSI) Undertakings during the year ended March 31, 2010 and hence there are no amounts due to such undertakings. The identification of SSI undertakings is based on the managements knowledge of their status.

As per information and explanations to management there are no micro, small and medium enterprises as defined in Micro, Small and medium Enterprise Deveploment Act, 2006 to who company owes and dues.

14) The company operates only in one segment hence the requirement of segment reporting pursuant to AS 17 issued by the Institute of Chartered accountants of India are not applicable.

15) Previous Years figures have been regrouped and reclassified wherever necessary to conform with current years classification.