Notes to Accounts of Shricon Industries Ltd.

Mar 31, 2025

(n) Provisions, Contingent Liabilities and Contingent Assets

Provisions involving substantial degree of estimation in measurement are recognized
when the Company has a present obligation (legal or constructive) as a result of a past
event, it is probable that an outflow of resources embodying economic benefits will be
required to settle the obligation and a reliable estimate can be made of the amount of
the obligation. These estimates are reviewed at each reporting date.

If the effect of the time value of money is material, provisions are discounted using a
current pre-tax rate that reflects, when appropriate, the risks specific to the liability.
When discounting is used, the increase in the provision due to the passage of time is
recognized as a finance cost.

Contingent liabilities are not recognized but are disclosed in notes.

Contingent assets are neither recognised nor disclosed in the financial statements,

(o) Segment Reporting

The accounting policies adopted by the company for segment reporting are in line with
the Ind AS 108.

Business Segment: The Company''s operating business is engineering goods only and
accordingly there is only one business segment.

Currency Segment: The analysis of currency segment is based on the basis of currency.

The currency segments considered for disclosure are as follows:

(a) Sales in Indian Currency ___

(b) Sales in foreign currency Tffy''N

Segment Assets denotes for assets in Local Currency and in foreign currenc^S''''''" \

(p) Earning Per Share

Basic earning per share is calculated by dividing the net profit or loss for the period
attributable to equity shareholders by the weighted average number of equity shares
outstanding during the period.

For the purpose of calculating diluted Earning per Share, the net profit or loss for the
period attributable to Equity Shareholders and the weighted average number of Shares
outstanding during the period are adjusted for the effects of all dilutive potential Equity
Shares.

(q) Financial Instruments

(i) Financial Assets

A. Initial recognition and measurement

All financial assets and liabilities are initially recognized at fair value. Transaction costs
that are directly attributable to the acquisition or issue of financial assets and financial
liabilities, which are not at fair value through profit or loss, are adjusted to the fair value
on initial recognition. Purchase and sale of financial assets are recognised using trade
date accounting.

B. Subsequent measurement

(i) Financial assets carried at amortised cost (AC)

A financial asset is measured at amortised cost if it is held within a business model
whose objective is to hold the asset in order to collect contractual cash flows and the
contractual terms of the financial asset give rise on specified dates to cash flows that
are solely payments of principal and interest on the principal amount outstanding.

(ii) Financial assets at fair value through other comprehensive income (FVTOCI)

A financial asset is measured at FVTOCI if it is held within a business model whose
objective is achieved by both collecting contractual cash flows and selling financial
assets and the contractual terms of the financial asset give rise on specified dates to
cash flows that are solely payments of principal and interest on the principal amount
outstanding.

(iii) Financial assets at fair value through profit or loss (FVTPL)

A financial asset which is not classified in any of the above categories are measured at
FVTPL

C. Investment in subsidiaries, Associates and Joint Ventures

The Company has accounted for its investments in subsidiaries, associates and joint
venture at cost, if any.

D. Other Equity Investments

All other equity investments are measured at fair value, with value changes recognised
in Statement of Profit and Loss, except for those equity investments fof-wtych the
Company has elected to present the value changes in ''Other Comprehensive^OT&

E. Impairment of financial assets

In accordance with Ind AS 109, the Company evaluate impairment of financial assets at
fair value through profit and loss (FVTPL).

(ii) Financial liabilities

A. Initial recognition and measurement

All financial liabilities are recognized at fair value and in case of loans, net of directly
attributable cost. Fees of recurring nature are directly recognised in the Statement of
Profit and Loss as finance cost.

B. Subsequent measurement

Financial liabilities are carried at amortized cost using the effective interest method. For
trade and other payable maturing within one year from the balance sheet date, the
carrying amounts approximate fair value due to the short maturity of these
instruments.

(iii) Derivative and Financial Instrument and Hedge Accounting

The Company uses derivative financial instruments such as currency swaps and
forwards contracts to mitigate the risk of changes in exchange rates. Such derivative
financial instruments are initially recognised at fair value on the date on which a
derivative contract is entered into and are also subsequently measured at fair value.
Derivatives are carried as financial assets when the fair value is positive and as financial
liabilities when the fair value is negative.

Any gains or losses arising from changes in the fair value of derivatives are taken
directly to Statement of Profit and Loss, except for the effective portion of cash flow
hedges which is recognised in Other Comprehensive Income and later to Statement of
Profit and Loss when the hedged item affects profit or loss or treated as basis
adjustment if a hedged forecast transaction subsequently results in the recognition of a
non-financial assets or non-financial liability.

Hedges that meet the criteria for hedge accounting are accounted for as follows:

a) Cash flow hedge

The Company designates derivative contracts or non derivative financial assets /
liabilities as hedging instruments to mitigate the risk of movement in foreign exchange
rates for foreign exchange exposure on highly probable future cash flows attributable to
a recognised asset or liability or forecast cash transactions. When a derivative is
designated as a cash flow hedging instrument, the effective portion of changes in the
fair value of the derivative is recognized in the cash flow hedging reserve being^lfycf
other comprehensive income. Any ineffective portion of changes in the fair value~o?Tft>e
derivative is recognized immediately in the Statement of Profit and Loss! If the hedging
relationship no longer meets the criteria for hedge accounting, then hedge accounting is
discontinued prospectively. If the hedging instrument expires or is sold, terminated or
exercised, the cumulative gain or loss on the hedging instrument recognized in cash
flow hedging reserve till the period the hedge was effective remains in cash flow
hedging reserve until the underlying transaction occurs. The cumulative gain or loss
previously recognized in the cash flow hedging reserve is transferred to the Statement
of Profit and Loss upon the occurrence of the underlying transaction. If the forecasted
transaction is no longer expected to occur, then the amount accumulated in cash flow
hedging reserve is reclassified in the Statement of Profit and Loss.

b) Fair Value Hedge

The Company designates derivative contracts or non derivative financial assets /
liabilities as hedging instruments to mitigate the risk of change in fair value of hedged
item due to movement in foreign exchange rates.

Changes in the fair value of hedging instruments and hedged items that are designated
and qualify as fair value hedges are recorded in the Statement of Profit and Loss. If the
hedging relationship no longer meets the criteria for hedge accounting, the adjustment
to the carrying amount of a hedged item for which the effective interest method is used
and is amortised to Statement of Profit and Loss over the period of maturity.

(r) Government Grants:

Government grants with a condition to purchase, construct or otherwise acquire long¬
term assets are initially measured based on grant receivable under the scheme. Such
grants are recognised in the Statement of Profit and Loss on a systematic basis over the
useful life of the asset. Amount of benefits receivable in excess of grant income accrued
based on usage of the assets is accounted as Government grant received in advance.
Changes in estimates are recognised prospectively over the remaining life of the assets.
The company has option to present the government grant related to fixed assets by
deducting the grant from the carrying value of the asset and to present the non¬
monetary grant at a nominal amount. The company has not availed this option in
current financial year. Grants from the government are recognised at their fair value
where there is a reasonable assurance that the grant will be received and the company
will comply with all attached condition.

(s) Current versus non-current classification

The Company presents assets and liabilities in balance sheet based on current/non-
current classification.

The Company has presented non-current assets and current assets before equity, non¬
current liabilities and current liabilities in accordance with Schedule III, Division II of
Companies Act, 2013 notified by MCA.

(i) An asset is classified _

as current when it is: X

a) Expected to be realised or intended to be sold or consumed in''nofmafo^«ting

b) Held primarily for the purpose of trading,

c) Expected to be realised within twelve months after the reporting period, or

d) Cash or cash equivalent unless restricted from being exchanged or used to settle a
liability for at least twelve months after the reporting period.

All other assets are classified as non-current.

(ii) A liability is classified

as current when it is:

a) Expected to be settled in normal operating cycle.

b) Held primarily for the purpose of trading,

c} Due to be settled within twelve months after the reporting period, or

d) There is no unconditional right to defer the settlement of the liability for at least

twelve months after the reporting period.

All other liabilities are classified as non-current. The operating cycle is the time between
the acquisition of assets for processing and their realisation in cash or cash equivalents

The preparation of company''s financial statements in conformity with Ind AS require
management to make judgments, estimates and assumptions to be made that affect the
reported amount of assets and liabilities, disclosure of contingent liabilities on the date of the
financial statements and the reported amount of revenues and expenses during the reporting
period. Uncertainty about these assumptions and estimates could result in outcomes that
require material adjustments to the carrying value of the assets or liabilities affected in future
period. Difference between the actual results and estimates are recognized in the period in
which the results are known/materialized. The management believes that the estimates used in
the preparation of the financial statements are prudent and reasonable.

3.1 Depreciation / Amortisation and useful lives of Property, Plant and Equipment /
Intangible Assets

Tangible Assets

Depreciation on Property, Plant and Equipment is provided on useful life of the assets
which is taken as specified in Schedule II to the Companies Act, 2013 and depreciation is
charged on Written Down Value method after taking into residual value of the assets in
order to determine the amount of depreciation / amortization to be recorded during
reporting period.

Intangible Assets

The intangible asset is amortized over a period of estimated useful life of asset, taking
into account of anticipated technological changes. The depreciation / amortization for
the future period is revised if there are Material changes from previous estimates.

3.2 Recoverability of trade receivable and advances

Judgements are required in assessing the recoverability of overdue trade regsivpbtes
and advances and determining whether a provision against those receivabl6&4i£*y \
required. Factors considered include the credit rating of the counterparty, the amount\C^

and timing of anticipated future payments and any possible actions that can be taken to
mitigate the risk of non-payment.

3.3 Provisions

Provisions and liabilities are recognized in the period when it becomes probable that
there will be a future outflow of funds resulting from past operations or events and the
amount of cash outflow can be reliably estimated. The timing of recognition and
quantification of the liability requires the application of judgement to existing facts and
circumstances, which can be subject to change. The carrying amounts of provisions and
liabilities are reviewed regularly and revised to take account of changing facts and
circumstances.

3.4 Income taxes

Management judgment is required for the calculation of provision for income taxes and
deferred tax assets and liabilities. The Company reviews at each balance sheet date the
carrying amount of deferred tax assets. The factors used in estimates may differ from
actual outcome which could lead to Material adjustment to the amounts reported in
the standalone financial statements.

3.5 Contingencies

Management judgement is required for estimating the possible outflow of resources, if
any, in respect of contingencies/ claim/litigations against the Company as it is not
possible to predict the outcome of pending matters with accuracy.

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Mar 31, 2024

27. Contingent and disputed Liabilities not provided for: NIL

(i) In the opinion of the Board the Current Assets, Loans and Advances are approximately of the value as stated in Financial Statements, if realized in the ordinary course of business

(ii) The provision for all known and determined liabilities is adequate and not in excess of the amount reasonably required.

(iii) Balances of Debtors, Creditors and Loan and Advances are subject to confirmation.

(iv) The company has pending litigation of Income tax, but as the demand raised by the authorities (even after finalization of appeals) is to be adjusted against MAT already paid, the company don''t foresee the cash flow of the company being negatively affected.

29. Employee Benefit Obligations

There is no employee in the company eligible to for

(i) Defined Contribution Plan or (ii) Defined Benefit Plan.

Other Long Term Employee Benefits includes Liability of Leave Encashment, which is paid annually.

BO. The figures for the previous year have been regrouped and rearranged wherever found necessary to make them comparable with those of current year.

31. The provision for taxation has been made after considering the benefits available to SEZ units under Income Tax Act.

32. Foreign exchange risk and exposure

The Company neither have any transaction nor exposure in Foreign Currency.

33. Segment Reporting

The Company is engaged in only one business segment hence no business segment reporting required. ¦—r-.

* The aforesaid amount doesn''t includes amount in respect of gratuity and leave encashment. Remuneration is within limits specified under Section 197 of the Act, as recommended by Remuneration and Nomination Committee and approved by Board and approved by shareholders'' at the annual General Meeting.

35. Loans or advances to specified persons

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

36. Expenditure towards Corporate Social Responsibility (CSR)

As per applicable laws, the company is not required to spent any amount on CSR.

37. (a) Expenditure in Foreign Currency : NIL

(b) Earning in Foreign Currency : NIL

38. Financial Risk Management

(i) Financial risk management objectives and policies

The Company''s financial risk management is an integral part of how to plan and execute its business strategies. The Company''s financial risk management policy is set by the Board.

Market risk is the risk of loss of future earnings, fair values or future cash flows that may result from a change in the price of a financial instrument. The value of a financial instrument may change as a result of changes in the interest rates, foreign currency exchange rates, equity prices and other market changes that affect market risk sensitive instruments.

Market risk is attributable to all market risk sensitive financial instruments including investments and deposits, foreign currency receivables, payable and loans and borrowings.

The Company manages market risk through top management executives, which evaluates and exercises control over the entire process of market risk management The decisions which are approved by Senior Management. The activities of this department include management of cash resources, implementing hedging strategies for foreign currency exposures like foreign exchange forward contracts, borrowing strategies and ensuring compliance with market risk limits and policies.

(ii) Market Risk- Interest rate risk

Interest rate risk is the risk that the fair value of future cash flows of the financial instruments will fluctuate because of changes in market interest rates. In order to optimize the Company’s position with regards to interest income and interest expenses and to manage the interest rate risk. The company uses normally Fixed Deposit route to park the surplus funds For borrowing which reduces to Nil some time, company uses Bank borrowings at the prevailing rate of the Bank, after bargain by the senior management.

(iii) Market Risk- Foreign currency risk.

The Company operates internationally and portion of the business is transacted in several currencies and consequently the Company is exposed to foreign exchange risk through its sales and services in overseas and purchases from overseas suppliers in various foreign currencies. Foreign currency exchange rate exposure is partly balanced by purchasing of goods, commodities and services in the respective currencies.

39. Capital risk management

(i) Risk Management

The Company aim to manage its capital efficiently so as to safeguard its ability o continue as a going concern and to optimize returns to our shareholders The capital structure of the Company is based on management''s judgement of the appropriate balance of key elements in order to meet its strategic and day-to-day needs. We consider the amount of capital in proportion to risk and manage the capital structure in light of changes in economic conditions and the risk characteristics of the underlying assets. In order to maintain or adjust the capital structure, the Company may adjust the amount of dividends paid to shareholders, return capital to shareholders or issue new shares The Company''s policy is to maintain a stable and strong capital structure with a focus on total equity so as to maintain investor, creditors and market confidence and to sustain future development and growth of its business. The company will take appropriate steps in order to maintain, or if necessary adjust, its capital structure.

40. Credit risk

Credit risk arises from the possibility that the counter party may not be able to settle their obligations as agreed To manage this, the Company periodically assesses financial reliability of customers and other counter parties, taking into account the financial condition, current economic trends, and analysis of historical bad debts and ageing of

financial assets Individual risk limits are set and periodically reviewed on the basis of such information.

The Company considers the probability of default upon initial recognition of asset and whether there has been a Material increase in credit risk on an ongoing basis through each reporting period. To assess whether there is a Material increase in credit risk the Company compares the risk of default occurring on asset as at the reporting date with the risk of default as at the date of initial recognition It considers reasonable and supportive forwarding-looking information such as:

i) Actual or expected Material adverse changes in business.

ii) Actual or expected Material changes in the operating results of the counter-party,

iii) Financial or economic conditions that are expected to cause a Material change to the counter-party''s ability to meet its obligations,

iv) Material increase in credit risk on other financial instruments of the same counterparty,

v) Material changes in the value of the collateral supporting the obligation or in the quality of the third-party guarantees or credit enhancements.

Financial assets are written off when there is no reasonable expectations of recovery, such as a debtor failing to engage in a repayment plan with the Company. Where loans or receivables have been written off, the Company continues to engage in enforcement activity to attempt to recover the receivable due. Where recoveries are made, these are recognized as an income in the statement of profit and loss.

The Company measures the expected credit loss of trade receivables from individual customers based on historical trend, industry practices and the business environment in which the entity operates. Loss rates are based on actual credit loss experience and past trends. Based on the historical data, loss on collection of receivable is not material hence no additional provision considered.

41. Trade Receivables and provision for expected credit losses (ECL)

The Company extends credit to customers as per the contractual obligation and internal credit policy. Any deviation are approved by appropriate authorities, after due consideration of the customers credentials and financial capacity, trade practices and prevailing business and economic conditions. The Company''s historical experience of collecting receivables and the level of default indicate that credit risk is low and generally uniform across markets; consequently, trade receivables and contract assets are considered to be a single class of financial assets All overdue customer balances are evaluated taking into account the age of the dues, specific credit circumstances, the track record of the customers etc. Loss allowances and impairment is recognised as per the Company policy. The ageing of trade receivables are as follows:

43. Risk Management

(a) Credit risk arises from cash and cash equivalents:

Contractual cash flows of debt investments carried at amortised cost, deposited with banks, credit exposures from customers including outstanding receivables and other financial instruments. Trade receivables and contract assets. The Company extends credit to customers in normal course of business. The Company considers factors such as credit track record in the market and past dealings for extension of credit to customers. The Company monitors the payment track record of the customers. Outstanding customer receivables are regularly monitored The Company evaluates the concentration of risk with respect to trade receivables as low, as its customers are located in several jurisdictions and industries and operate in largely independent markets The Company has obtained advances and security deposits from its customers & distributors, which mitigate the credit risk to an extent.

(b) Liquidity Risk

Prudent liquidity risk management implies maintaining sufficient cash and marketable securities and the availability of funding through an adequate amount of committed credit facilities to meet obligations when due and to close out market positions. Due to the dynamic nature of the underlying businesses, Company maintains flexibility in funding by maintaining availability under committed credit lines. Management monitors rolling forecasts of the Company''s liquidity position (comprising the undrawn borrowing facilities below) and cash and cash equivalents on the basis of expected cash flows

44. Financing arrangements (i) Financing arrangements

The Company do not enjoy any borrowing facilities at the end of the reporting period The borrowings are unsecured and are based on requirement of funds and on prevailing rate of interest.

(ii) Unused line of credit

As there is no credit facilities, there is no unused line of credit.

(iii) Assets pledged as Security

No assets are pledged as security for borrowings.

47. Fair value of financial assets and liabilities

Fair valuation techniques: The Company maintains policies and procedures to value financial

assets or financial liabilities using the best and most relevant available data.

The fair values of the financial assets and liabilities represents the amount that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date.

The following methods and assumptions were used to estimate the fair values

1) Fair value of cash, bank and deposits, trade receivables, trade payables, and other current financial assets and liabilities approximate their carrying amounts largely due to the short-term maturities of these instruments.

2) Long-term fixed-rate and variable-rate loans/ borrowings are evaluated by the Company based on parameters such as interest rates, specific country risk factors, credit risk and other risk characteristics. Fair value of variable interest rate borrowings approximates their carrying values. For fixed interest rate borrowings, fair value is determined by using the discounted cash flow (DCF) method using discount rate that reflects the Company''s borrowings rate. Risk of nonperformance for the company is considered to be immaterial in valuation.

3) The fair values of derivatives, if any, are estimated by using pricing models, where the inputs to those models are based on readily observable market parameters basis contractual terms, period to maturity, and market parameters such as interest rates, foreign exchange rates, and volatility These models do not contain a high level of subjectivity as the valuation techniques used do not require significant judgement, and inputs thereto are readily observable from actively quoted market prices. Management evaluates the credit and non-performance risks associated with its derivative counterparties and believe them to be immaterial and not warranting a credit adjustment.

in making payment (which has been paid but beyond the appointed day during the year) but without adding the interest specified under the Micro, Small and Medium Enterprises Development Act, 2006.

4. Amount of interest accrued and remaining unpaid at the end of each accounting year.

5. Amount of further interest remaining due and payable even in the succeeding years, until such date when the interest dues above are actually paid to the small enterprise, for the purpose of disallowance of a deductible expenditure under section 23 of the Micro, Small and Medium Enterprises Development Act, 2006.

49. Sensitivity Analysis

The Company’s exposure to the risk of changes in market interest rates relates primarily to long term unsecured loans, debt. The company don’t have any long term secured borrowings, and unsecured borrowings are taken as per prevailing market rates based on negotiations, and also it has very low exposures to borrowings, therefore sensitivity is very less, hence analysis is not given

50. Commodity price risk and sensitivity There is no commodity affecting the working.

50. a. Valuation of Property Plant & Equipment, intangible asset

The Company has not revalued its property, plant and equipment or intangible assets or both during the current or previous year.

51. Utilisation of borrowed funds and share premium

No funds have been advanced or loaned or invested (either from borrowed funds or share premium or any other sources or kind of funds) by the Company to or in any other person or entity, including foreign entities ("Intermediaries") with the understanding, whether recorded in writing or otherwise, that the Intermediary shall lend or invest in party identified by or on behalf of the Company (Ultimate Beneficiaries). The Company has not received any fund from any party(Funding Party) with the understanding that the Company shall whether, directly or indirectly lend or invest in other persons or entities identified by or on behalf of the Company ("Ultimate Beneficiaries") or provide any guarantee, security or the like on behalf of the Ultimate Beneficiaries.

52. Title deeds of immovable properties

The title deeds of all the immovable properties, as disclosed in note 4,5 to the financial statements, are held in the name of the company

53. Event occurring after balance sheet date

There is no reportable event happened after balance sheet date and up to finalization of balance sheet except:

54. (i) Compliance with number of layers of companies

The Company has complied with the number of layers prescribed under the Section 2(87) of the Companies Act, 2013 read with Companies (Restriction on number of layers) Rules, 2017.

(iv) Compliance with approved schemo(s) of arrangements

The Company has not entered into any scheme of arrangement which has an accounting impact on current or previous financial year

(iii) During the year, the Company has not been sanctioned working capital limits in excess of Rs 5 crores, in aggregate, from banks.

55. 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. Notes to the Standalone Financial Statements for the year ended 31 March 2024

56. Wilful defaulter

The Company has not been declared wilful defaulter by any bank or financial institution or other lender.

57. Relationship with struck off companies

The Company has no transactions with the companies struck off under Section 248 of the Companies Act. 2013 or Section 560 of the Companies Act, 1956

58. Registration of charges or satisfaction with Registrar of Companies (ROC)

There are no charges or satisfaction yet to be registered with Registrar of Companies (ROC) beyond the statutory period

59. 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 previously in the books of account.

60. 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.

61. Utilisation of borrowings availed from banks and financial institutions

No borrowings obtained by the company from banks and financial institutions.

62. Accounting software having feature of Audit Trail

The company has used an accounting software for maintaining its books of account, which has a feature of recording audit trail (edit log) facility and the same has operated throughout the year for all relevant transactions recorded in the software and during the year audit trail feature has not been tampered with.

63. The Financial Statements were authorised for issue by the directors on 29th May, 2024.

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Mar 31, 2014

I. Contingent Liabilities: As per information and explanation available to us: Nil

II. Figures for the previous period have been regrouped / reclassified in line with revised Schedule VI as directed by MCA through Notification No. S.O. 447(E).

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Mar 31, 2013

A. Statutory Auditors remuneration is Rs. 18,000/- (including out of pocket expenses} Previous year Rs. 18,000/-

B. Directors Remuneration Rs. Nil

C. Segmental Reporting- Not Applicable

D. Disclosure of related parties/ relaied party transactions:

During the year the company has obtained loan from its director Mf. Om Prakash Maheshwari. Company is paying 9% interest on the said loan obtained from directors. Loan token during the year is Rs. 18,36,088/-. Repaid Rs. T. 10.696/- (including interest of Rs. 5,52,068/-!, maximum outstanding during the year is Rs. 69,21,466/- Closing Balance is Rs. 69,21,466/-. (Previous year. Loan taken is Rs. 7,77,279/-. Repaid '' Nil, Maximum outstanding Rs. 51,96.074/- Closing Balance is Rs. 51,96,074/-).

E. Disclosure under section 22 of the Micro, Small and Medium Enterprises Development Act 2006: Amount due to Micro. Small and Medium Enterprises: Rs Nil

F. The Management of the company has review the existing assets working conditions and utility as at the balance sheet date and are of the opinion that there exists no indication that an asset has been impaired and hence no impairment has been carried out.

G. Deterred Tax is recognized on timing differences between the accounting income and the taxable income for the year and guantified using the tax rates and laws enacted or substantively enacted as on the balance sheet date.

H. Contingent Liabilities: As per information and explanation available to us: Nii

I. Figures for the previous period have been regrouped / reclassified in line with revised Schedule VI as directed by MCA through Notification No, S.O. 447(E).

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Mar 31, 2012

1. Statutory Auditors remuneration is Rs 18,000.00 (including out of pocket expenses) Previous vear Rs 18,000

2. Directors Remuneration Rs Nil

3. Segmental Reporting: Not Applicable

4. Disclosure of related parties/ related party transactions:

During the year the company has obtained loan from its director Mr. Om Prakash Maheshwari. Company is paying 9% interest on the said loan obtained from directors. Loan taken during the year is Rs. 7,77,279.00 (including interest of Rs. 416960), maximum outstanding during the year is Rs. 51,96,074.00 Closing Balance is Rs 51,96,074.00, (Previous year, Loan taken 5,84,838.00, Repaid Rs 4,30,000.00, Maximum outstanding Rs. 44,61,432.00 Closing Balance 44,18,795.00)

5. Disclosure under section 22 of the Micro, Small and Medium Enterprises Development Act 2006: Amount due to Micro, Small and Medium Enterprises: Rs Nil

6. The Management of the company has review the existing assets working conditions and utility as at the balance sheet date and are of the opinion that there exists no indication that an asset has been impaired and hence no impairment has been carried out.

7. Contingent Liabilities: As per information and explanation available to us : Nil

8. Figures for the previous year have been regrouped/ reclassified wherever necessary.

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Mar 31, 2010

1. Statutory Auditors remuneration is Rs 18,000.00 (including out of pocket expenses) Previous year Rs. 22,472

2. Directors Remuneration Rs Nil

3. Segmental Reporting : Not Applicable

4. Disclosure of related parties/ related party transactions:

During the year the company has obtained loan from its director Mr. Om Prakash Maheshwari. Company is paying 9% interest on the said loan obtained from directors. Loan taken during the year is Rs. 10,46,178.00, maximum outstanding during the year is Rs. 42,63,957.00 Closing Balance is Rs 42,63,957.00

5. Disclosure under section 22 of the Micro, Small and Medium Enterprises Development Act 2006: Amount due to Micro, Small and Medium Enterprises: Rs Nil

6. The Management of the company has review the existing assets working conditions and utility as at the balance sheet date and are of the opinion that there exists no indication that an assets has been impaired and hence no impairment has been carried out.

7. Contingent Liabilities: As per information and explanation available to us : Nil

8. Figures for the previous year have been regrouped/ reclassified wherever necessary.