Notes to Accounts of Silver Oak (India) Ltd.

Mar 31, 2024

b) Terms / Rights attached to Equity Shares

The company has onlyone class of shares i.e. equity shares having a par value of'' 10/- per share. Each holder of equity shares is entitled to one vote per share. The company declares and pays dividends, (if any), in Indian rupees. The dividend, if proposed, by the Board of Directors is subject to the approval of the shareholders in the ensuing Annual General Meeting.

In the event of liquidation of the company, the holders of equity shares will 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.

Nature and purpose of Reserves:

Securities premium: Securities premium reserve is used to record premium on issue of shares. The reserve is utilised in accordance with the provisions of the Companies Act, 2013.

Capital Reserve: The Reserve is created based on statutory requirement under the Companies Act, 2013. This is not available for distribution of dividend but can be utilized for issuing bonus shares. General Reserves: General reserve is a free reserve and it represents amount transferred from retained earnings.

Retained earnings: Retained earnings comprises of the Company’s undistributed earnings after taxes.

Note 22:

ADDITIONAL NOTES ON ACCOUNTS :

1) Note 1 to 22 referred herein forms an integral part of these Financial Statements.

2) The Company is mainly operating in the business of manufacturing of Indian Made Foreign Liquor therefore as per Ind AS 108 there are no reportable Segment.

4) Pursuant to disclosure pertaining to Section 186 (4) of the Companies Act, 2013 the following are the details thereof: a Loan given-outstanding as at the year-end: NIL

b Investments Made:

Refer Note No. 3 of the Financial Staements

c Guarantee Given or Security Provided:

During the year there is no such transaction.

⁵⁾ In accordance with Ind AS 24 the related party disclosure is as under, the information regarding related party have been determined to the extent, such parties have been identified on the basis of information available with the company:

6) Pursuant to Ind AS 112 - ''Disclosure of Interests in Other Entities'' the interest of the Company in its Subsidiary/ Associate is as follows :

Subsidiary

APT Infrastructure Pvt Ltd (60%)

The company has an investment in a subsidiary company namely APT Infrastructure Limited, a company Incorporated in the country of India. The ownership interest and voting power of the company in terms of the total subscribed and paid up share capital in the subsidiary is 60% (Pr. Yr. 60%) amounting to? 60 Lacs (Pr. Yr? 60 Lacs) which is the carrying amount that appears under Investment head in the balance sheet of the company.

c Provision For Taxation:

Company has not migrated to new regime of Income Tax Act, 1961 u/s 115BAA in current year.

d There were no such transactions that were not recorded in the books of accounts that have been surrendered or disclosed as income during the year in the tax assessments under the Income Tax Act, 1961 (such as, search or suivey or any other relevant provisions of the Income Tax Act, 1961).

12) Financial Instruments by Category and fair value hierarchy:

Set out below, is a comparison by class of the carrying amounts and fair value of the Company''s financial instruments, other than those with carrying amounts that are reasonable approximations of fair values.

The fair values of the financial assets and financial liabilities included in the level 2 and level 3 categories have been determined in accordance with generally accepted pricing models based on a discounted cash flow analysis, with the most significant inputs being the discount rate that reflects the credit risk of counterparties.

To provide an indication about the reliability of the inputs used in determining fair value, the Company has classified its financial instruments into three levels prescribed under the Ind AS. An explanation for each level is given below. Level 1: Quoted (unadjusted) market prices in active markets for identical assets or liabilities.

Level 2: Valuation techniques for which the lowest level input that is significant to the fair value measurement is directly or indirectly observable.

Level 3: Valuation techniques for which the lowest level input that is significant to the fair value measurement is unobservable.

Notes:

1 There have been no transfer between Level 1, Level 2 and Level 3 during the period March 31, 2024 and March 31, 2023.

Note 22:

ADDITIONAL NOTES ON ACCOUNTS :

14) Financial risk management objectives and policies to the extent applicable:

The Company has not started any significant commercial operations and therefore the company does not envisage any market risk, currency risk, interest rate risk, price risk, liquidity risk and credit risk. The Company’s senior management in consultation with audit committee has the responsibility for establishing and governing the Company’s overall risk management framework, wherever applicable.

15) Consolidation of Accounts:

a The company is under an obligation to make consolidated financial statements covering its subsidiary APT Infrastrucure Pvt Ltd (CIN: U45400DL2007PTC170319; Shareholding 60%) alongwith associate of APT Infrastructures Pvt Ltd i.e. Rococo Mining Technologies Private Limited and SVR Realtors Private Limited and accordingly the said consolidated audited balance sheet will be separately made. b Pursuant to the provisions of section 2(87) of the Companies Act, 2013 the company is a subsidary of Royal Highland Distilleries Ltd (CIN no. U51228WB1992PLC056959) as the said company holds 61.41% shareholding of the company consequently the company is liable to be consolidated under Equity method with that company.

16) Figures of Trade Receivables, Trade Payables, Borrowings and Loans & Advances are subject to respective consent, confirmation, reconciliation and consequential adjustments, if any.

17) Events after reporting date

There have been no events after the reporting date that require adjustment/ disclosure in these financial statements.

18) In the opinion of board of directors of the company, the current assets, loans and advances have to value at which they are stated in the balance sheet if realised in the ordinary course of business.

19) Details of Benami Property held: NIL

20) The inventories amounting to ?4846596/- (Previous Year -? 4846596/-) is shown at cost instead of valuation at cost or net realizable value whichever is lower. As per Ind AS ascertainment of net realizable value requires technical judgments and consideration of market related factors. The impact of diminution in the valuation thereof, if any, will be accounted for in the year of consumption/realization.

21) Indications of Impairment

In the opinion of management, there are no indications, internal or external which could have the effect of impairing the value of assets to any material extent as at the Balance sheet date requiring recognition in terms of Ind AS 36.

22) Registration of charges or satisfaction with Registrar of Companies (ROC):

During the year, the charges or satisfaction which were to be registered with ROC have been done within the statutory period (if any).

²³⁾ In accordance with IND AS - 109 the long-term investments held by the company are to be carried at Cost or Fair Value. All the investments of the Company have been considered by the management to be of long-term nature.

24) According to Ind AS - 7 the desired Cash flow statement is enclosed herewith.

25) Previous year figures have been regrouped or rearranged where ever necessary.

26) The figures have been rounded off to the nearest multiple of a rupee in thousand.

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Mar 31, 2015

COMPANY OVERVIEW

Silver Oak (India) Limited (the "Company") is a public limited company incorporated and domiciled in India and has register office at Indore. Its share are listed on Bombay Stock Exchange.The Company is engaged in the manufacturing and selling of Indian made foreign liquor.The Company caters mainly to the domestic market

2. Share Capital

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 the event of liquidation of the company, the holders of equity shares will 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.

3. Related party disclosure with following Accounting Standard -18

Key Management Personnel and their relatives

Mr. Sanjeev Dodhy, Mr. Himanshu Dodhy, Neera Dodhy, Bhupendra singh

4. CONTINGENT LIABILITIES

(a) In the opinion of the Board of Directors, all the known liabilities have been accounted for

(b) Contingent liability that may arise due to delayed / non-compliance of certain fiscal statutes amount unascertainable.

(c) Contingent Liabilities [ to the extent not provided for ]

[a] M.P Excise matter, under disputes Rs. 12.68 Lac [ Previous Year Rs. 12.68 ]

[b] M.PVAT matter, under disputed Rs. 2.32 Lac [Previous Year Rs. Nil ]

(d) The company does not possess information as to which of its suppliers are ancillary industrial undertaking / small scale industrial undertaking holding permanent regis- tration certificate issued by the Directorate of Industries of a State or Union territory, consequently, the liability, if any, of interest which would be payable under. The inter- est on delayed payments to Small Scale and Ancillary Industrial Undertakings Act, 1992 cannot be ascertained. However, the Company has not received any claims in respect of interest.

5. Balance of Sundry Debtors, Sundry Creditors, Trade Deposit, Loan & Advances and others are subject to confirmation. However, in the opinion of the management theses accounts will fetch the amount as stated in the books of accounts on realisation in the ordinary course of business.

6. Expenditure & Earning in foreign currency Rs. Nil [Previous Year Rs. Nil]

7. Previous year's figures have been regrouped /reclassified wherever necessary to confirm to current year's classification.

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Mar 31, 2014

COMPANY OVERVIEW

Silver Oak (India) Limited (the "Company ") is a public limited company domiciled and incorporated under provision of Companies Act 1956 .Its share are listed on Bombay Stock Exchange, . The Company is engaged in the manufacturing and selling of Indian made foreign liquor. The Company caters mainly to the domestic market

1. CONTINGENT LIABILITIES

- In the opinion of the Board of Directors, all the known liabilities have been accounted for

- Contingent liability that may arise due to delayed / non-compliance of certain fiscal statutes amount unascertainable.

- Contingent Liabilities [ to the extent not provided for ]

[a] M.P. Excise matter , under disputes Rs. 12.68 Lac [ Previous Year Rs. 12.68 ]

- The company does not possess information as to which of its suppliers are ancillary industrial undertaking / small scale industrial undertaking holding permanent registration certificate issued by the Directorate of Industries of a State or Union territory, consequently, the liability, if any, of interest which would be payable under. The interest on delayed payments to Small Scale and Ancillary Industrial Undertakings Act, 1992 cannot be ascertained. However, the Company has not received any claims in respect of interest.

2. Balance of Sundry Debtors, Sundry Creditors, Trade Deposit, Loan & Advances and others are subject to confirmation. However, in the opinion of the management theses accounts will fetch the amount as stated in the books of accounts on realisation in the ordinary course of business.

3. Expenditure & Earning in foreign currency Rs. Nil [ Previous Year Rs. Nil ]

4. Previous year''s figures have been regrouped /reclassified wherever necessary to confirm to current year''s classification.

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Mar 31, 2013

COMPANY OVERVIEW

Silver Oak (India) Limited (the "Company") is a public limited company domiciled and incorporated under provision of Companies Act 1956 .Its share are listed on Bombay Stock Exchange, . The Company is engaged in the manufacturing and selling of Indian made foreign liquor. The Company caters mainly to the domestic market

1. Related party disclosure with following Accounting Standard -18

Key Management Personnel and their relatives

Mr. Sanjeev Dodhy, Mr. Himanshu Dodhy, Neera Dodhy, Bhupendra singh

Enterprises where principal shareholders have control Sanpure Distillers Private Limited

2. CONTINGENT LIABILITIES

- In the opinion of the Board of Directors, all the known liabilities have been accounted for

- Contingent liability that may arise due to delayed / non-compliance of certain fiscal statutes amount unascertainable.

- Contingent Liabilities [ to the extent not provided for ]

[a] M.P Excise matter , under disputes Rs. 12.68 Lac [ Previous Year Rs. 12.68 ]

[b] Central Sale Tax matter, under dispute Rs. 1.85 Lac [Previous Year Rs. Nil]

» The company does not possess information as to which of its suppliers are ancillary industrial undertaking / small scale industrial undertaking holding permanent registration certificate issued by the Directorate of Industries of a State or Union territory, consequently, the liability, if any, of interest which would be payable under. The interest on delayed payments to Small Scale and Ancil- lary Industrial Undertakings Act, 1992 cannot be ascertained. However, the Company has not received any claims in respect of interest.

3. Balance of Sundry Debtors, Sundry Creditors, Trade Deposit, Loan & Advances and others are subject to confirmation. However, in the opinion of the management theses accounts will fetch the amount as stated in the books of accounts on realisation in the ordinary course of business.

4. Expenditure & Earning in foreign currency Rs. Nil [ Previous Year Rs. Nil ]

5. Previous year''s figures have been regrouped /reclassified wherever necessary to confirm to current year''s classification.

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Mar 31, 2012

1.1 Termsfrights 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 the event of liquidation of the company, the holders of equity shares will be entitled to receive remaining assets ofthe company, after distribution of all preferential amounts. The distribution will be in proportion to the number of equity shares held by the shareholders.

Term loans are secured by hypothecation of vehicles comprised of:

[1] Loan of447500/- taken from HDFC Bank Ltd.during the financial year 2011-12 and carries interest @ 13.11% on reducing balance . The loan repayable in 48 equal monthly installments of Rs. 11900/- along with interest from the date of loan. Last installment is due in December, 2015.

[2] Loan of882000/- taken from HDFC Bank Ltd.during the financial year 2009-10 and carries interest @ 8.65% on reducing balance. The loan repayable in 36 equal monthly installments of Rs. 27706/- along with interest from the date of loan. Last installment is due in January 2013.

#. Rs.90 Lac of Working capital loan secured against hypothecation of Inventory,Trade Receivable, outstanding monies, receivable claims, bills invoice documents, contracts, guarantees .rights, Plant & Machinery and collateral Security ofimmoavble properties Situated in Pithampur Dhar Plot No. 110. Sector 1 Industrial area owned by comapny on paripassu basis.

#. Personal Guamtee of Mr.Sanjeev Dodhy Pramotor of the company and his family members.

#. The Company does not possess information as to which of suppliers are Micro .Small and medium Scale Industrial Undertakings holding permanent registration certificate issued by the Directorate of Industries of a State or Union territory, Accordingly, the information regarding total outstanding dues to Micro Small and medium Scale Industrial undertakings as at the year end and that regarding the names of Micro Small and medium Scale Industrial Undertakings to whom the Company owes any amount. **

#.The Company has provided for Gratuity in accordance with the AS-15 " Employee Benefits", the company has obtained group Gratuity Insurance Policy from LIC oflndia and Contribution are made to LIC's Recognised Group Gratuity Fund Scheme based on amount demanded by LIC oflndia to cover its Gratuity liability and making annual payment of the liability as calculated by them.

#. Contribution are made to Government Provident fund, ESIC whch cover regular employee of the company. While both the employees and the company make predetermined contibution to the provdent fund and ESIC as per the provision of said act.

2. CONTINGENT LIABILITIES

In the opinion of the Board of Directors, all the known liabilities have been accounted for Contingent liability that may arise due to delayed / non-compliance of certain fiscal statutes amount unascertainable.

3. The company does not possess information as to which of its suppliers are ancillary industrial undertaking / small scale industrial undertaking holding permanent registration certificate issued by the Directorate of Industries of a State or Union territory, consequently, the liability, if any, of interest which would be payable under. The interest on delayed payments to Small Scale and Ancillary Industrial Undertakings Act, 1992 cannot be ascertained. However, the Company has not received any claims in respect of interest.

4. Balance of Sundry Debtors, Sundry Creditors, Trade Deposit, Loans & Advances and others are subject to confirmation. However, in the opinion of the management these accounts will fetch the amount as stated in the books of account on realisation in the ordinary course of business.

5. No impairment loss has been booked in the books of accounts due to recoverable amount (higher of an asset's net selling price and its value in use) is higher than carrying amount of asset as per the Directors of company.

6. In the opinion of the management and to the best of their knowledge and belief, the aggregate value of the current assets and loans & advances, on realization in the ordinary course ofbusiness, will not be less than the amount at which they are stated in the balance sheet.

7. Related party transaction with the following standard -18;

Key Management Personnel and their relatives

Mr. Sanjeev Dodhy, Mr. Himanshu Dodhy, Neera Dodhy, Bhupendra Singh

NOT!: The above information are as per calculation and verification by and certification of management.

8. Expenditure in foreign currency - Rs. NIL. (Previous year-Rs. NIL-).

Earnings in foreign currency - Rs. NIL. (Previous year - Rs. NIL-).

9. There are no amounts due and outstanding, to be credited to Investor Education and Protection Fund.

10. These financial Statements have been prepared in the format prescribed by the Revised Schedule VI to the Companies Act, 1956. Previous year figures have been reworked, recast/re-stated to confirm to the classification of the Current year.

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Mar 31, 2010

1. Contingent Liabilities : Contingent liability that may arise due to delayed, non compliance of certain fiscal law. amount of which is un ascertain.

2. In our opinion and to the best of our knowledge and belief the aggregate value of current assets and loans and advances on realization in the ordinary course of business will not be less than the amount at which they are stated in the balance sheet.

3. The company has not received any intimation from suppliers regarding the status under The Micro. Small and Medium Enterprises Development Act 2006 and hence disclosure, if any, relating to the amount unpaid as at year end together with interest paid/payable as required under the act have not been given.

4. Expenditure in foreign currency - Rs. NIL (Previous year- Rs. NIL-).

Earnings in foreign currency - Rs. NIL (Previous year-Rs. NIL-).

5. Deferred Tax

In accordance with AS - 22 accounting for taxes on Income, the Company has considered Deferred Taxes during the year. Accordingly, the net deferred tax Liability / Assets for the year has been recognized in the Profit & Loss Appropriation Account.

6. The current tax is amount of tax payable on the taxable income for the year as determined in accordance with the under section 115JB of Income tax Act 1961.

7. Sundry debtors includes Rs. 1,65,370/-(previous year 1,65370/-) due from some of the customers of the company. The company is of the opinion that the amount is fully recoverable on completion of final settlement which is in progress. The company is confident of recovering the amount.

8. Retirement Benefits: The company has obtained group Gratuity Insurance policy from LIC of India to cover its Gratuity liability and is making annual payment of the liability calculated by them. Provident Fund Cost is accounted as per provision of said Act.

Encashment of leave accumulated while in service is at option of the employee and is accounted for as and when claimed, hence not provided for.

9. The previous year figures have been reworked, regrouped and reclassified wherever necessary so as to make them comparable with current year classifications.