Notes to Accounts of Simplex Realty Ltd.

Mar 31, 2025

(xv) Provisions and Contingent Liabilities:

The Company recognizes a provision when there is a present obligation (legal or constructive) as a result of
a past event and 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.

Contingent liabilities are disclosed when there is a possible obligation arising from past events, the
existence of which will be confirmed only by the occurrence or non-occurrence of one or more uncertain
future events not wholly within the control of the Company or a present obligation that arises from past
events where it is either not probable that an outflow of resources will be required to settle the obligation or a
reliable estimate of the amount cannot be made.

(xvi) Earnings Per Share:

Basic earnings per share is calculated by dividing the profit / (loss) for the year attributable to the equity
shareholders by weighted average number of equity shares outstanding during the year.

For the purpose of calculating diluted earnings per share, the net profit / (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.

(xvii) Dividend:

Dividend to the equity shareholders is recognized as a liability in the Company’s financial statements in the
period in which the dividend is approved by the shareholders.

1 (a) USE OF ESTIMATES AND JUDGEMENTS

The preparation of financial statements in conformity with Ind AS requires management to make judgments,
estimates and assumptions that affect the reported amounts of assets, liabilities, income, expenses and
disclosures of contingent liabilities at the reporting date. However, uncertainty about these assumptions and
estimates could result in outcomes that require a material adjustment to the carrying amount of the asset or
liability affected in future periods.

Estimates and underlying assumptions are reviewed at each reporting date. Any revision to accounting
estimates and assumptions are recognised prospectively i.e. recognised in the period in which the estimate
is revised and future periods affected.

i. Evaluation of percentage completion

Determination of revenues over time necessarily involves making estimates, some of which are of a technical
nature, concerning, where relevant, the percentage of completion, cost to completion, the expected revenue
from the project or activity and the foreseeable losses to completion. Estimates of project income, as well as
project costs, are reviewed periodically. The effect of changes, if any, to estimates is recognised in the financial
statements for the period in which such changes are determined.

ii. Recognition and measurement of defined benefit obligations

The cost of defined benefit plans and the present value of the defined benefit obligation are based on actuarial
valuations using the projected unit credit method. An actuarial valuation involves making various assumptions
that may differ from actual developments in the future. These include the determination of discount rate, future
salary increase and mortality rates. Due to the complexities involved in the valuation and its long-term nature,
a defined benefit obligation is highly sensitive to changes in these assumptions. All assumptions are reviewed
at each reporting date.

iii. Fair value measurement of financial instruments

When the fair values of the financial assets and liabilities recorded in the balance sheet cannot be measured
based on the quoted market prices in active markets, their fair value is measured using valuation techniques.
The inputs to these models are taken from the observable market, where possible, but where this is not
feasible, a review of judgement is required in establishing fair values. Changes in assumptions relating to
these assumptions could affect the fair value of financial instruments.

iv. Deferred taxes

Deferred tax is recorded on temporary differences between tax bases of assets and liabilities and their
carrying amounts, at the rates that have been enacted or substantively enacted at the reporting date. The
ultimate realization of deferred tax assets is dependent upon the generation of future taxable profit during the
periods in which those temporary differences and the tax loss carry forwards become deductible. The
Company considers the expected reversal of deferred tax liabilities and projected future taxable income in
making this assessment. The amount of deferred tax assets considered realizable, however, could be
reduced in the near term if estimates of future taxable income during the carry forward periods are reduced.

The tax rate used for the above reconciliations is the corporate tax rate of 25.168% for the year 2024-25 and 2023-24
payable by the Company.

In assessing the realizability of deferred tax assets, the Company considers the extent to which it is probable that the
deferred tax asset will be realized. The ultimate realization of deferred tax assets is dependent upon the generation of
future taxable profits during the period in which those temporary differences and tax loss carry- forwards become
deductible. The Company considers the expected reversal of deferred tax liabilities, projected future taxable income
in making this assessment.

Based on this, the Company believes that it is probable that the Company will realize the benefits of these deductible
differences. The amount of deferred tax asset considered realizable, however, could be reduced in the near term if the
estimates of future taxable income during the carry-forward period are reduced.

As at 31st March, 2025, the Company has recognized deferred tax asset of '' 352.44 Lakhs ( as at 31st March, 2024
'' 351.79 Lakhs) on unused tax losses. Such tax losses include major items which are not expected to recur in future.
Based on realistic estimates of future earnings, there is resasonable certainty that the Company will generate
sufficient taxable income to utilise such tax losses.

CAPITAL RESERVE

Pertains to share application money forfeited in the case where remaining amount was not paid. The reserve can be
utilised in accordance with the provisions of the Act.

SECURITIES PREMIUM RESERVE

Securities premium is used to record the premium on issue of shares. The reserve can be utilised in accordance with
the provisions of the Act.

GENERAL RESERVE

General Reserve represents amounts transferred from Retained Earnings in earlier years as per the requirements of
the erstwhile Companies Act, 1956. The reserve can be utilised in accordance with the provisions of the Act.
Declaration of dividend out of such reserve shall not be made except in accordance with the rules prescribed in this
behalf under the Act.

OTHER COMPREHENSIVE INCOME - EQUITY INSTRUMENTS (FVTOCI)

The Company has elected to recognise changes in the fair value of certain investments in equity securities in other
comprehensive income. These changes are accumulated within the FVTOCI equity instruments reserve within equity.
The Company transfer amounts from this reserve to retained earnings when the relevant equity securities are
derecognised.

OTHER COMPREHENSIVE INCOME- DEBT INSTRUMENTS (FVTOCI)

This reserve represents the cumulative gains (net of losses) arising on revaluation of debt instruments measured at
fair value through Other Comprehensive Income. When the financial asset is derecognised, the cumulative gains or
losses previously recognised in this reserve is reclassified from equity to Profit or Loss.

Level 1: Quoted prices (unadjusted) in active market for identical assets or liabilities. This includes listed equity
instruments that have quoted price. The fair value of equity instruments which are traded in the stock exchanges is
valued using the closing price as at the reporting period.

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

The fair value of financial instruments that are not traded in active market is determined using market approach and
valuation tecniques which maximise the use of observable market data and rely as little as possible on entity-specific
estimates. If significant inputs required to fair value an instrument are observable, the instrument is included in Level 2.

The fair value of investments in bonds, debentures and mutual funds is measured at quoted price, dealer quotes or
NAV.

c) Risk management framework

The Company''s principal financial liabilities includes borrowings, trade and other payables. The Company''s
principal financial assets include loans, trade receivables, investments (equity shares/bonds/debentures/mutual
funds), cash and cash equivalents and others. The Company is exposed to credit risk, liquidity risk and market
risk. The Company’s senior managment oversees the management of these risks. The Company''s senior
management provides assurance that the Company''s financial risk activities are governed by appropriate
policies and procedures and that financial risks are identified, measured and managed in accordance with the
Company''s policies and risk objectives.

d) Financial Risk Management

The Company has exposure to the following risks arising from financial instruments:

i) Credit Risk

ii) Liquidity Risk

iii) Market Risk

i) Credit Risk

Credit risk is the risk of financial loss to the Company if a customer or counterparty to a financial instrument
fails to meet its contractual obligations, and arises principally from the Company''s receivables from
customers, investments in inter corporate deposits, bonds or debentures.

The carrying amount of following financial assets represents the maximum credit exposure:

Trade receivables

The Company’s exposure to credit risk is influenced mainly by the individual characteristics of each
customer. However credit risk with regards to trade receivables is almost negligible in case of its residential,
commercial sale and lease rental as the same is due to the fact that in case of its residential and commercial
sale business, it does not handover possession till entire outstanding is received. Similarly, in case of lease
rental business, the Company keeps 3 to 6 months rental amount as deposit from the occupants.

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

Other financial assets

Credit risk from balances with banks, loans and investments is managed by Company''s finance department.
Investments of surplus funds are primarily made in fixed deposits, with banks and companies; bonds or
debentures of investment grade issued by government institutions, public sector undertakings, corporates.
These counter parties are shortlisted and exposure limits determined on the basis of their credit rating,
financial statements and other relevant informations. As these counter parties are government institutions,
public sector undertaking and corporates with investment grade credit ratings, the counter party risk
attached to such assets is considered to be insignificant. Impairment in the value of investments in
associates is recognised, if required, as on the reporting date.

ii) 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
in 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 condition, without incurring unacceptable losses or
risking damage to the Company’s reputation.

The Management monitors rolling forecasts of the Company''s liquidity position on the basis of expected
cash flows.

The Company’s objective is to maintain a balance between continuity of funding and flexibility through the
use of surplus funds and inter-corporate loans.

iii) Market Risk

Market risk is the risk that changes in market prices such as foreign exchange rates, interest rates and
commodity prices which will affect the Company’s income or the value of its holdings of financial instruments. The
objective of market risk management is to manage and control market exposures within acceptable parameters,
while optimising the return. The Company''s investments are held in bonds/debentures,fixed deposits and debt
mutual funds. Investments in bonds/debenture are measured either fair value through other comprehensive
income or fair valued through profit or loss to recognise market volatility, which is not considered to be significant.
Fixed deposits are held with highly rated banks and companies and are not subject to interest rate volatility.

The Company invests in mutual funds. Mutual fund investments are susceptible to market price risks that arise
mainly from change in interest rate which may impact the return and value of such investments.

Currency risk

Currency risk is not material, as the Company''s primary business activities are within India and does not have
any exposure in foreign currency.

Interest rate risk

Interest rate risk is the risk that the fair value or future cash flows of a financial instrument will fluctuate because of
changes in market interest rates. The management is responsible for the monitoring of the Company’s interest
rate position. The exposure of the Company’s borrowing to the interest rate risk at the end of the reporting period

Commodity price risk

The Company’s activities are exposed to steel and cement price risks and therefore its overall risk management
program focuses on the volatile nature of the steel and cement market, thus seeking to minimize potential adverse
effects on the Company’s financial performance on account of such volatility.

34. CAPITAL MANAGEMENT

The Company manages its capital to ensure that it will be able to continue as going concern while maximising the
return to stakeholders through the optimisation of the debt and equity balance. The capital structure of the
Company consists of net debt and the total equity of the Company. For this purpose, net debt is defined as total
borrowings less cash and cash equivalents.

The Company manages its capital structure and makes adjustments in light of changes in economic conditions
and the requirements of the financial covenants. The funding requirements are met through short-term/long-term
borrowings. The Company monitors the capital structure on the basis of total debt to equity ratio and maturity
profile of the overall debt portfolio of the Company.

37. CORPORATE SOCIAL RESPONSIBILITY

During the year, the Company was not required to spend any money as per the provision of Section 135 of the
Companies Act, 2013 towards Corporate Social Responsibility (CSR) activities.

Gross amount required to be spent by the Company during the year '' Nil (previous year '' Nil).

b) Others

i. The Company had received a demand notice of '' 1,715.65 Lakhs (as at 31st March, 2024''1,715.65
Lakhs) from the State Revenue Department on account of permission required for transfer of flats built
out of FSI relating to Leasehold land in project “Planet Godrej”. The Company filed a writ petition against
the demand in the Honb’le High Court of Bombay (“the Court’’) and the Court has stayed the demand
order until a formal policy applicable to all leasehold lands is framed by the State. Further, the Court has
ordered that as and when the policy is framed by the State, thereafter, the State shall approach the
Honb’le High Court of Bombay for amending the present order.

ii. Municipal Corporation of Greater Mumbai (MCGM) has raised a demand of '' 4,878.03 Lakhs along with
penalty u/s.202 of the MCGM Act 1888 amounting to '' 2,355.60 upto the period 31.03.2024 vide
Demand notice received by us on 18.04.2024 towards property tax assessment for potential FSI of
open land. The said Notice have been replied by us challenging the demand inter alia on the ground that
the notices are issued on basis of Rule 20, 21 and 22 of the capital value rules 2010 and 2015 which
have been struck down by the Hon’ble Bombay High Court vide its order dated 24.04.2019 as being
ultra vires the Mumbai Municipal Corporation Act. The Hon’ble Supreme Court by its order dated
07.11.2022 has upheld the order of the Hon’ble Bombay High Court. The Hon’ble Supreme Court has
also dismissed the review petition filed by MCGM for review of the order dated 07.11.2022. We have
placed these facts before the Additional Municipal Commissioner (City) before whom we were called for
a personal hearing with respect to the demand notices which were issued to us. By the order dated
26.08.2024 the learned AMC (City) confirmed the demand notices. The order has been challenged by
way of Writ petition in High Court Bombay. The Honbl’e High Court has by order dated 25.09.2024
directed to deposit the 50% of the amount mentioned in the demand notices. The Company has in
pursuance of the said order deposited 50% of the amount by 18.11.2024. Ad-interim stay is granted
and continued in favor of the Company. The matter is now kept for admission of the Writ Petition.

40. Based on the intimations received from “suppliers” regarding their status under as Micro, Small and Medium
Enterprises Development Act, 2006 (MSMeD), no outstanding to MSME as at 31st March, 2025.

41. The lease of the land at Mumbai has expired and it is yet to be renewed by the Collector of Mumbai (“the
Collector”). Pending renewal of the lease, the previously agreed lease rent continues to be paid by the Company
on the basis of the expired lease agreement. The demands previously raised by the Collector have been set aside
by the Honb’le High Court of Bombay (“the Court’’), and the Court has directed the Collector to re-assess the
lease rent. As of the Balance Sheet date, no revised demand is received.

42. There are no transactions and balances with companies struck off under Section 248 of the Companies Act, 2013
or Section 560 of the erstwhile Companies Act, 1956.

43. The Company’s main business activity constitutes developing real estate, which is the only reporting segment.
The Company does not have any reportable geographical segment.

44. The Financial Statements of the Company for the year ended 31st March, 2025 were approved by the Board of
Directors on 21st May, 2025.

45. Previous year’s figures have been reclassified, wherever necessary, to conform current year’s presentation.

As per our report of even date attached For and on behalf of the Board

For Khandelwal and Mehta LLP Jaimin Desai Nandan Damani

Chartered Accountants Chief Financial Officer Chairman and Managing Director

Firm’s Registration No. W100084 DIN: 00058396

Sunil Khandelwal ^P°°j^{a Bagwe} Satyan S. Israni

Partner ^C°m^pany S^ecretary ^and Independent Director

Membership No. 101388 Compliance Officer DIN: 01174081

Mumbai, 21st May, 2025 Mumbai, 21st May, 2025

---

Mar 31, 2024

(xv) Provisions and Contingent Liabilities:

The Company recognizes a provision when there is a present obligation (legal or constructive) as a result of a past event and 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.

Contingent liabilities are disclosed when there is a possible obligation arising from past events, the existence of which will be confirmed only by the occurrence or non-occurrence of one or more uncertain future events not wholly within the control of the Company or a present obligation that arises from past events where it is either not probable that an outflow of resources will be required to settle the obligation or a reliable estimate of the amount cannot be made.

(xvi) Earnings Per Share:

Basic earnings per share is calculated by dividing the profit / (loss) for the year attributable to the equity shareholders by weighted average number of equity shares outstanding during the year.

For the purpose of calculating diluted earnings per share, the net profit / (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.

(xvii) Dividend:

Dividend to the equity shareholders is recognized as a liability in the Company’s financial statements in the period in which the dividend is approved by the shareholders.

1 (a) USE OF ESTIMATES AND JUDGEMENTS

The preparation of financial statements in conformity with Ind AS requires management to make judgments, estimates and assumptions that affect the reported amounts of assets, liabilities, income, expenses and disclosures of contingent liabilities at the reporting date. However, uncertainty about these assumptions and estimates could result in outcomes that require a material adjustment to the carrying amount of the asset or liability affected in future periods.

Estimates and underlying assumptions are reviewed at each reporting date. Any revision to accounting estimates and assumptions are recognised prospectively i.e. recognised in the period in which the estimate is revised and future periods affected.

i. Evaluation of percentage completion

Determination of revenues over time necessarily involves making estimates, some of which are of a technical nature, concerning, where relevant, the percentage of completion, cost to completion, the expected revenue from the project or activity and the foreseeable losses to completion. Estimates of project income, as well as project costs, are reviewed periodically. The effect of changes, if any, to estimates is recognised in the financial statements for the period in which such changes are determined.

ii. Recognition and measurement of defined benefit obligations

The cost of defined benefit plans and the present value of the defined benefit obligation are based on actuarial valuations using the projected unit credit method. An actuarial valuation involves making various assumptions that may differ from actual developments in the future. These include the determination of discount rate, future salary increase and mortality rates. Due to the complexities involved in the valuation and its long-term nature, a defined benefit obligation is highly sensitive to changes in these assumptions. All assumptions are reviewed at each reporting date.

iii. Fair value measurement of financial instruments

When the fair values of the financial assets and liabilities recorded in the balance sheet cannot be measured based on the quoted market prices in active markets, their fair value is measured using valuation techniques. The inputs to these models are taken from the observable market, where possible, but where this is not feasible, a review of judgement is required in establishing fair values. Changes in assumptions relating to these assumptions could affect the fair value of financial instruments.

iv. Deferred taxes

Deferred tax is recorded on temporary differences between tax bases of assets and liabilities and their carrying amounts, at the rates that have been enacted or substantively enacted at the reporting date. The ultimate realization of deferred tax assets is dependent upon the generation of future taxable profit during the periods in which those temporary differences and the tax loss carry forwards become deductible. The Company considers the expected reversal of deferred tax liabilities and projected future taxable income in making this assessment. The amount of deferred tax assets considered realizable, however, could be reduced in the near term if estimates of future taxable income during the carry forward periods are reduced.

CAPITAL RESERVE

Pertains to share application money forfeited in the case where remaining amount was not paid. The reserve can be utilised in accordance with the provisions of the Act.

SECURITIES PREMIUM RESERVE

Securities premium is used to record the premium on issue of shares. The reserve can be utilised in accordance with the provisions of the Act.

GENERAL RESERVE

General Reserve represents amounts transferred from Retained Earnings in earlier years as per the requirements of the erstwhile Companies Act, 1956. The reserve can be utilised in accordance with the provisions of the Act. Declaration of dividend out of such reserve shall not be made except in accordance with the rules prescribed in this behalf under the Act.

OTHER COMPREHENSIVE INCOME - EQUITY INSTRUMENTS (FVTOCI)

The Company has elected to recognise changes in the fair value of certain investments in equity securities in other comprehensive income. These changes are accumulated within the FVTOCI equity instruments reserve within equity. The Company transfer amounts from this reserve to retained earnings when the relevant equity securities are derecognised.

OTHER COMPREHENSIVE INCOME- DEBT INSTRUMENTS (FVTOCI)

This reserve represents the cumulative gains (net of losses) arising on revaluation of debt instruments measured at fair value through Other Comprehensive Income. When the financial asset is derecognised, the cumulative gains or losses previously recognised in this reserve is reclassified from equity to Profit or Loss.

c) Risk management framework

The Company''s principal financial liabilities includes borrowings, trade and other payables. The Company''s principal financial assets include loans, trade receivables, investments (equity shares/bonds/debentures/mutual funds), cash and cash equivalents and others. The Company is exposed to credit risk, liquidity risk and market risk. The Company’s senior managment oversees the management of these risks. The Company''s senior management provides assurance that the Company''s financial risk activities are governed by appropriate policies and procedures and that financial risks are identified, measured and managed in accordance with the Company''s policies and risk objectives.

d) Financial Risk Management

The Company has exposure to the following risks arising from financial instruments:

i) Credit Risk

ii) Liquidity Risk

iii) Market Risk

i) Credit Risk

Credit risk is the risk of financial loss to the Company if a customer or counterparty to a financial instrument fails to meet its contractual obligations, and arises principally from the Company''s receivables from customers, investments in inter corporate deposits, bonds or debentures.

The carrying amount of following financial assets represents the maximum credit exposure:

Trade receivables

The Company’s exposure to credit risk is influenced mainly by the individual characteristics of each customer. However credit risk with regards to trade receivables is almost negligible in case of its residential, commercial sale and lease rental as the same is due to the fact that in case of its residential and commercial sale business, it does not handover possession till entire outstanding is received. Similarly, in case of lease rental business, the Company keeps 3 to 6 months rental amount as deposit from the occupants.

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

Other financial assets

Credit risk from balances with banks, loans and investments is managed by Company''s finance department. Investments of surplus funds are primarily made in fixed deposits, with banks and companies; bonds or debentures of investment grade issued by government institutions, public sector undertakings, corporates. These counter parties are shortlisted and exposure limits determined on the basis of their credit rating, financial statements and other relevant informations. As these counter parties are government institutions,public sector undertaking and corporates with investment grade credit ratings, the counter party risk attached to such assets is considered to be insignificant. Impairment in the value of investments in associates is recognised, if required, as on the reporting date.

ii) 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 in 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 condition, without incurring unacceptable losses or risking damage to the Company’s reputation.

The Management monitors rolling forecasts of the Company''s liquidity position on the basis of expected cash flows.The Company’s objective is to maintain a balance between continuity of funding and flexibility through the use of surplus funds and inter-corporate loans.

iii) Market Risk

Market risk is the risk that changes in market prices such as foreign exchange rates, interest rates and commodity prices which will affect the Company’s income or the value of its holdings of financial instruments. The objective of market risk management is to manage and control market exposures within acceptable parameters, while optimising the return. The Company''s investments are held in bonds/debentures,fixed deposits and debt mutual funds. Investments in bonds/debenture are measured either fair value through other comprehensive income or fair valued through profit or loss to recognise market volatility, which is not considered to be significant. Fixed deposits are held with highly rated banks and companies and are not subject to interest rate volatility.

The Company invests in mutual funds. Mutual fund investments are susceptible to market price risks that arise mainly from change in interest rate which may impact the return and value of such investments.

Currency risk

Currency risk is not material, as the Company''s primary business activities are within India and does not have any exposure in foreign currency.

Interest rate risk

Interest rate risk is the risk that the fair value or future cash flows of a financial instrument will fluctuate because of changes in market interest rates. The management is responsible for the monitoring of the Company’s interest rate position. The exposure of the Company’s borrowing to the interest rate risk at the end of the reporting period is as follows:

Commodity price risk

The Company’s activities are exposed to steel and cement price risks and therefore its overall risk management program focuses on the volatile nature of the steel and cement market, thus seeking to minimize potential adverse effects on the Company’s financial performance on account of such volatility.

34. CAPITAL MANAGEMENT

The Company manages its capital to ensure that it will be able to continue as going concern while maximising the return to stakeholders through the optimisation of the debt and equity balance. The capital structure of the Company consists of net debt and the total equity of the Company. For this purpose, net debt is defined as total borrowings less cash and cash equivalents.

The Company manages its capital structure and makes adjustments in light of changes in economic conditions and the requirements of the financial covenants. The funding requirements are met through short-term/long-term borrowings. The Company monitors the capital structure on the basis of total debt to equity ratio and maturity profile of the overall debt portfolio of the Company.

37. CORPORATE SOCIAL RESPONSIBILITY

During the year, the Company was not required to spend any money as per the provision of Section 135 of the Companies Act, 2013 towards Corporate Social Responsibility (CSR) activities.

Gross amount required to be spent by the Company during the year ? Nil (previous year ? Nil).

b) Others

i. The Company had received a demand notice of '' 1,715.65 Lakhs (as at 31st March, 2023''1,715.65 Lakhs) from the State Revenue Department on account of permission required for transfer of flats built out of FSI relating to Leasehold land in project “Planet Godrej”. The Company filed a writ petition against the demand in the Honb’le High Court of Bombay (“the Court’’) and the Court has stayed the demand order until a formal policy applicable to all leasehold lands is framed by the State. Further, the Court has ordered that as and when the policy is framed by the State, thereafter, the State shall approach the Honb’le High Court of Bombay for amending the present order.

ii. Municipal Corporation of Greater Mumbai (MCGM) has raised a demand of '' 5,065.50 Lakhs upto the period 31.03.2022 vide Demand notice received by us on 11.08.2022 towards property tax assessment for potential FSI of open land. The said Notice have been replied by us challenging the demand inter alia on the ground that the notices are issued on basis of Rule 20, 21 and 22 of the capital value rules 2010 and 2015 which have been struck down by the Hon’ble Bombay High Court vide its order dated 24.04.2019 as being ultra vires the Mumbai Municipal Corporation Act. The Hon’ble Supreme Court by its order dated 07.11.2022 has upheld the order of the Hon’ble Bombay High Court. We have placed these facts before the Additional Municipal Commissioner (Projects) before whom we were called for a personal hearing with respect to the demand notices which were issued to us. Recently, the Hon’ble Supreme Court has also dismissed the review petition filed by MCGM for review of the above order. In view of our submissions and the orders passed by the Hon’ble Supreme Court, we are awaiting the final order to be passed by the Additional Municipal Commissioner (Projects) as regards the personal hearing granted to us.

40. Based on the intimations received from “suppliers” regarding their status under as Micro, Small and Medium Enterprises Development Act, 2006 (MSMeD), no outstanding to MSME as at 31st March, 2024.

41. The lease of the land at Mumbai has expired and it is yet to be renewed by the Collector of Mumbai (“the Collector”). Pending renewal of the lease, the previously agreed lease rent continues to be paid by the Company on the basis of the expired lease agreement. The demands previously raised by the Collector have been set aside by the Honb’le High Court of Bombay (“the Court’’), and the Court has directed the Collector to re-assess the lease rent. As of the Balance Sheet date, no revised demand is received.

42. The Company has signed and registered sale deed for land at Gondia and surplus arising from the sale of land has been shown as an exceptional item.

43. There are no transactions and balances with companies struck off under Section 248 of the Companies Act, 2013 or Section 560 of the erstwhile Companies Act, 1956.

44. The Company’s main business activity constitutes developing real estate, which is the only reporting segment. The Company does not have any reportable geographical segment.

45. The Financial Statements of the Company for the year ended 31st March, 2024 were approved by the Board of Directors on 21st May, 2024.

46. Previous year’s figures have been reclassified, wherever necessary, to conform current year’s presentation.

As per our report of even date attached For and on behalf of the Board

For Khandelwal and Mehta LLP Jaimin Desai Nandan Damani

Chartered Accountants Chief Financial Officer Chairman and Managing Director

Firm’s Registration No. W100084 DIN: 00058396

Sunil Khandelwal ^{Ipshita Dube} Surendra Kumar Somany

Partner ^C°m^pany S^ecretary ^and Independent Director

Membership No. 101388 Compliance Officer DIN: 00001131

Mumbai, 21st May, 2024 Mumbai, 21st May, 2024

---

Mar 31, 2017

b. Terms/rights attached to the equity shares

The Company has 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. The dividend 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 the equity shares will be entitled to receive remaining assets of the Company, after distribution of all preferential amounts, in proportion to their shareholding.

Retirement benefit plans

As per Accounting Standard 15 "Employee benefits", the disclosures as defined in the Accounting Standard are given below:

I) Defined Contribution Plans

a) Provident Fund

b) Superannuation Fund and Pension Scheme,1995

The Company has recognized the following amounts in the Statement of Profit and Loss which are included under Contribution to Provident, Superannuation and other fund;

1. Contingent Liabilities not provided for

a) Claims against the Company not acknowledged as debt:

b) The Company has received a demand notice of Rs. 17, 15, 65,324/- from the State Revenue Department on account of permission required for transfer of flats built out of FSI relating to Leasehold land in project "Planet Godrej". The Company filed a writ petition against the demand in the Honb’.le High Court of Bombay ("the Court'''') and the Court has stayed the demand order until a formal policy applicable to all leasehold lands is framed by the State. Further, the Court has ordered that as and when the policy is framed by the State, thereafter, the State shall approach the Honb''le High Court of Bombay for amending the present order.

2. The Company has not received any intimation from "suppliers" regarding their status under the Micro, Small and Medium Enterprises Development Act, 2006 and hence disclosures, if any, relating to amounts unpaid as at the year end together with interest paid/payable as required under the said Act have not been given.

3. The lease of the land at Mumbai has expired and it is yet to be renewed by the Collector of Mumbai ("the Collector"). Pending renewal of the lease, the previously agreed lease rent continues to be paid by the Company on the basis of the expired lease agreement. The demands previously raised by the Collector have been set aside by the Honb''le High Court of Bombay ("the Court''''), and the Court has directed the Collector to re-assess the lease rent. As of the Balance Sheet date, no revised demand is received.

4. During the year, the Company has recognized Rs. 9,17,18,515/- as revenue from the on-going project "Simplex Khushaangan". The aggregate amount of cost incurred and the profit/(loss) recognized to date is Rs. 87,99,79,534/- and Rs. (15,35,59,496/-) respectively.

5. Earnings per share - EPS is calculated by dividing the profit / (loss) attributable to the equity share holders by weighted average number of equity shares outstanding during the year.

For the purpose of calculating diluted earnings per share, the net profit / (loss) for the period attributable to equity shareholders and the weighted average number of shares outstanding during the period is adjusted for the effects of all dilutive potential equity shares, except when the results would be anti-dilutive.

6. The Company''s main business activity constitutes developing real estate, which is the only reporting segment. The Company does not have any reportable geographical segment.

31. Related party disclosure (i) Related party relationship during the year
(a)	Associates	Simplex Papers Ltd. Simplex Mills Company Ltd.
(b)	Key Management Personnel	Mr. Nandan Damani - Managing Director Mr. Surendra Kabra - Chief Financial Officer Mr. Shekhar R Singh - Company Secretary
(c)	Relative of Key Management Personnel	Mr. Sanjay N Damani Mrs. Shashi Patodia Mrs. Shivani Jatia
(d)	Where persons mentioned in (b) or (c) exercise significant influence	The Nav Bharat Refrigeration and Industries Ltd Lucky Vyapaar and Holdings Pvt. Ltd.

7. During the year, the Company has written off Rs. 5, 97, 59,760/- out of advances given towards land acquisition after adjusting the amount realized and value of property acquired. The Company had given advances to a party towards land acquisition at Bangalore, but the title to the land was not clear and marketable and there are so many claimants on the same land parcels. Hence, the Company had entered into agreement with an intending buyer who was interested in acquiring the land parcels in that area and agreed to buy our rights on those land parcels against part payment and in exchange of 4 villas at Goa. The Company has acquired 4 villas at Goa from the buyer and after adjusting the amount realized and value of the property acquired at Goa, the balance amount of Rs. 5,97,59,760/- has been written off during the year and the same has been shown as an extraordinary item.

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Mar 31, 2015

CORPORATE INFORMATION

Simplex Realty Limited ("the Company") is into real estate development. The Company develops residential as well as commercial properties in and around Mumbai. The Company is a public limited Company and is listed on BSE Limited.

b. Terms/rights attached to the equity shares

The Company has 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. The dividend 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 the equity shares will be entitled to receive remaining assets of the Company, after distribution of all preferential amounts, in proportion to their shareholding.

2. i) Contingent Liabilities not provided for

a) Claims against the Company not acknowledged as debt: (In Rs.) 2014-15 2013-14

Appeals filed in respect of disputed demands:

Relating to Income Tax where the Company is in appeal 7,73,86,149 7,73,86,149

Relating to Income Tax where Department is in appeal 54,46,63,110 54,46,63,110

Labour Matters 1,35,327 1,35,327

Legal Cases 34,05,600 34,05,600

Letter of Credit 83,08,929 -

b) The Company has received a demand of Rs. 17,15,65,324/- from the State Revenue Department on account of permission required for transfer of flats built out of FSI relating to Leasehold land in project "Planet Godrej". The Company has been legally advised that this demand is not payable by the Company and a writ petition against this demand has been filed in the Honb'le High Court of Bombay ("the Court") and by way of ad-interim relief, the Court has directed to the Collector and others that they shall not take any further steps against the Company till the communication of the decision of the Government and no decision has been taken yet.

3. As per the information available, the Company has no dues to micro, small and medium enterprises as defined under Micro, Small and Medium Enterprise Act, 2006 during the year ended 31st March, 2015 and 31st March, 2014 and as at 31st March, 2015 and 31st March, 2014.

4. The lease of the land at Mumbai has expired and it is yet to be renewed by the Collector of Mumbai ("the Collector"). Pending renewal of the lease, the previously agreed lease rent continues to be paid by the Company on the basis of the expired lease agreement. The demands previously raised by the Collector have been set aside by the Honb'le High Court of Bombay ("the Court"), and the Court has directed the Collector to re-assess the lease rent. As of the Balance Sheet date, no revised demand is received.

5. During the year, the Company has provided depreciation as per the provision of Schedule II to the Companies Act, 2013 (''the Act") based on the remaining useful life of the assets and consequently, in case of the assets which have completed their useful lives as prescribed under Schedule II to the Act, the carrying value (net of residual value) as at 01st April, 2014 have been adjusted, net of tax, in the opening balance of Profit and Loss Account amounting to Rs. 4,62,622/- and in case of other assets, the carrying value (net of residual value) is being depreciated over the revised remaining useful lives. As a result of the above, depreciation for the current year is higher by Rs. 9,50,576/-.

6. During the year, the Company has recognized Rs. 4,76,27,220/- as revenue from the on-going project "Simplex Khushaangan". The aggregate amount of cost incurred and the profit/(loss) recognized to date is Rs. 62,27,97,156/- and Rs. (6,66,71,488/-) respectively.

7. Earnings per share - EPS is calculated by dividing the profit attributable to the equity share holders by weighted average number of equity shares outstanding during the year.

For the purpose of calculating diluted earnings per share, the net profit for the period attributable to equity shareholders and the weighted average number of shares outstanding during the period is adjusted for the effects of all dilutive potential equity shares, except when the results would be anti-dilutive.

8. The Company's main business activity constitutes developing real estate, which is the only reporting segment. The company does not have any reportable geographical segment.

9. Previous year figures

The previous year's figures have been reclassified, wherever necessary, to conform current year's presentation.

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Mar 31, 2014

CORPORATE INFORMATION

Simplex Realty Limited ("the Company") is into real estate development. The Company develops residential as well as commercial properties in and around Mumbai. The Company is a public limited Company and is listed on BSE Limited.

2. i) Contingent Liabilities

a) Claims against the Company not acknowledged as debt:

(In Rs.)

2013-14 2012-13

Appeals filed in respect of disputed demands:

Relating to Income Tax where the Company is in appeal 7,73,86,149 19,12,77,352

Relating to Income Tax where Department is in appeal 54,46,63,110 -

Labour Matters 1,35,327 1,35,327

Legal Cases 34,05,600 34,05,600

b) During the year, the Company has received a demand of Rs. 17,15,65,324/- from the State Revenue

Department on account of permission required for transfer of flats built out of FSI relating to Leasehold land in project "Planet Godrej". The Company has been legally advised that this demand is not payable by the Company and a writ petition against this demand has been filed in the appropriate court and accordingly no provision has been made.

3. The Company has no dues to micro, small and medium enterprises as defined under Micro, Small and Medium Enterprise Act, 2006 during the year ended 31st March, 2014 and 31st March, 2013 and as at 31st March, 2014 and 31st March, 2013 .

4. The lease of the land at Mumbai has expired and it is yet to be renewed by the Collector of Mumbai ("the Collector"). Pending renewal of the lease, the previously agreed lease rent continues to be paid by the Company on the basis of the expired lease agreement. The demands previously raised by the Collector have been set aside by the Honorable High Court of Bombay and the Court has directed the Collector to re-assess the lease rent. As of the Balance Sheet date, no revised demand is received.

5. The net share of revenue from the Project "Planet Godrej" has been recognized as income from operation on the basis of final project cost and unsold flats which are retained have been shown in inventory at cost as per agreement with the developer.

30. During the year, the Company has recognized Rs. 9,33,28,020/- as revenue from the on-going project "Simplex KhushAangan".The aggregate amount of cost incurred and the profit/(loss) recognized to date is Rs. 51,86,21,219/- and (Rs. 5,60,35,812/-) respectively.

6. Earnings per share – EPS is calculated by dividing the profit attributable to the equity share holders by weighted average number of equity shares outstanding during the year.

For the purpose of calculating diluted earnings per share, the net profit for the period attributable to equity shareholders and the weighted average number of shares outstanding during the period is adjusted for the effects of all dilutive potential equity shares, except when the results would be anti-dilutive.

7. The Company''s main business activity constitutes developing real estate, which is the only reporting segment. The company does not have any reportable geographical segment.

8. Related party disclosure

(i) Related party relationship during the year

(a) Associates Simplex Papers Ltd.

Simplex Mills Company Ltd.

(b) Key management personnel Mr. Nandan Damani - Managing Director

(c) Relative of key management personnel

Mr. S.K.Somany Mr. Sanjay N.Damani Mrs. Shashi Amit Patodia Mrs. Shivani Vishal Jatia

(d) Where persons mentioned in (b) or (c) exercise significant influence

The Nav Bharat Refrigeration and Industries Ltd. Shreelekha Global Finance Ltd. Lucky Vyapaar and Holdings Pvt. Ltd. Shrinathji Flour Mills Pvt. Ltd.

9. Previous year figures

The previous year figures have been reclassified, wherever necessary to conform current year''s presentation.

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Mar 31, 2013

CORPORATE INFORMATION

Simplex Realty Limited (the Company) is into real estate development. The Company develops residential as well as commercial properties in and around Mumbai. The Company is a public limited Company and is listed on BSE Limited.

1. Contingent liabilities not provided for

(In Rs.)

2012-13 2011-12

Appeals filed in respect of disputed demands:

Income Tax 19,12,77,352 12,83,15,672

Labour Matters 1,35,327 1,35,327

Legal Cases 34,05,600 34,05,600

2. The Company has no dues to micro, small and medium enterprises as defined under Micro, Small and Medium Enterprise Act, 2006 during the year ended 31st March, 2013 and 31st March, 2012 and as at 31st March, 2013 and 31st March, 2012 .

3. The lease of the land at Mumbai has expired and it is yet to be renewed by the Collector of Mumbai. Pending renewal of the lease, the previously agreed lease rent continues to be paid by the Company on the basis of the expired lease agreement. The demands previously raised by the Collector of Mumbai (''the Collector'') have been set aside by the Honorable High Court of Bombay, and the Court has directed the Collector to re-assess the lease rent. As of the Balance Sheet date, no revised demand is received.

4. The net share of revenue from the Project "Planet Godrej" (i.e. net share in profit) if any, will be recognized as income from operation on the basis of estimated project cost. The increase in earlier estimates of cost, if any, will be recognised in the year of revision in such estimates.

5. Earnings per share – EPS is calculated by dividing the profit attributable to the equity share holders by weighted average number of equity shares outstanding during the year.

For the purpose of calculating diluted earnings per share, the net profit for the period attributable to equity shareholders and the weighted average number of shares outstanding during the period is adjusted for the effects of all dilutive potential equity shares, except when the results would be anti-dilutive.

6. The Company''s main business activity constitutes developing real estate, which is the only reporting segment. The company does not have any reportable geographical segment.

7. Related party disclosure

(i) Related party relationship during the year

(a) Associates Simplex Papers Ltd.

Simplex Mills Company Ltd.

(b) Key management personnel Mr. Nandan Damani - Managing Director

(c) Relative of key management personnel Mr. S.K.Somany

Mr. Sanjay N.Damani Mrs. Shashi Amit Patodia Mrs. Shivani Vishal Jatia

(d) Where persons mentioned in (b) or (c) exercise significant influence

The Nav Bharat Refrigeration and Industries Ltd. Lucky Vyapaar and Holdings Pvt. Ltd. Shrinathji Flour Mills Pvt. Ltd.

8. Previous year figures

The financial statements for the year ended 31st March, 2013 are prepared as per Revised Schedule VI. The previous year figures have been reclassified to conform to this year''s classification, wherever necessary to conform current year''s presentation.

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Mar 31, 2012

CORPORATE INFORMATION

Simplex Realty Limited ("The Company") is in real estate development. The Company develops residential as well as commercial properties in and around Mumbai. The Company is a public limited Company and is listed on BSE Limited.

a. Terms/rights attached to the equity shares

The Company has one class of equity shares having a par value of Rs 10/- per share. Each holder of equity shares is entitled to one vote. The dividend 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 the equity shares will be entitled to receive the remaining assets of the company, after distribution of all preferential amounts, in proportion to their shareholding.

-Includes ex-employees dues (pending claims) and other statutory dues, etc.

NOTES:

1. The Company holds leasehold land at Mumbai whose lease has expired on 22nd April, 1983. The Company is pursuing the matter with the Collector of Mumbai for renewal of the lease. This land has been developed and residential units thereon were sold to the buyers, pursuant to development permissions obtained from the concerned authorities.

* Formerly known as Prime Textiles Ltd.

** 69 shares of Piramal Healthcare Ltd. received free of cost during the year pursuant to scheme of arrangement of Piramal Life Science Ltd. *** Ceased to be subsidiary w.e.f. 29th February, 2012

Retirement benefit plans

As per Accounting Standard 15 "Employee Benefits", the disclosures as defined in the Accounting Standard are given below:

I) Defined Contribution Plan

a) Provident Fund

b) Superannuation fund and Pension Scheme -1995

The Company has recognized the following amounts in the Statement of Profit and Loss which are included under Contribution to Provident and Other funds:

II) Defined Benefit Plans

a) Contribution to Gratuity fund (Non-funded)

b) Leave encashment (Non-funded)

1. Contingent liabilities not provided for (In Rs.)

2011-12 2010-11 Appeals filed in respect of disputed demands:

Income Tax 12,83,15,672 62,41,97,421

Labour Matters 1,25,327 1,35,327

Legal Cases 34,05,600 34,05,600

2. The company has no dues to micro and small enterprises during the year ended 31st March, 2012 and 31st March, 2011 and as at 31s,March, 2012 and 31s,March,2011.

3. The lease of the land at Mumbai has expired and it is yet to be renewed by the Collector of Mumbai. Pending renewal of the lease, the previously agreed lease rent continues to be paid by the Company on the basis of the expired lease agreement. The demands previously raised by the Collector of Mumbai ('the Collector') have been set aside by the Honorable High Court of Bombay, and the Court has directed the Collector to re-assess the lease rent. As of the Balance Sheet date, no revised demand is received.

4. The Net share of revenue from project 'Planet Godrej' (i.e. net share in profit) has been recognized as income from operation upon finalization of cost of the project. The increase in earlier estimates of cost has been recognised during the year.

5. Earnings per share (EPS) is calculated by dividing the profit attributable to the equity share holders by weighted average number of equity shares outstanding during the year.

For the purpose of calculating diluted earnings 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 is adjusted for the effects of all dilutive potential equity shares, except when the results would be anti-dilutive.

6. The Company's main business activity constitutes developing real estate, which is the only reporting segment.

7. Related party disclosure

8. Previous year figures

The financial statements for the year ended 31st March, 2011 had been prepared as per the then applicable, pre- mised Schedule VI to the Companies Act, 1956. Consequent to the notification of Revised Schedule VI under the Companies Act, 1956, the financial statements for the year ended 31st March, 2012 are prepared as per Revised Schedule VI. Accordingly, the previous year figures have also been reclassified to conform to this year's classification. The adoption of Revised Schedule VI for previous year figures does not impact recognition and measurement principles followed for preparation of financial statements.

Particulars regarding subsidiary Company, in accordance with General Circular No:02/2011 dated 8th February, 2011 from the Ministry of Corporate Affairs.

1 Subsidiary Company

Simplex Renewable Resources Pvt. Ltd.

Ceased to be subsidiary w.e.f. 29th February, 2012

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Mar 31, 2011

1. Contingent liabilities not provided For: (Rs. In Lacs)

2010-11 2009-10

Appeals filed in respect of disputed demands:

Income Tax 8,241,01

Labour Matters 1.35 1.35

Legal Cases 34.06 34.06

Total 8.27S.42 35.41

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

4. The lease of the land at Mumbai has expired and it is yet to be renewed by the Collector of Mumbai. Pending renewal of the lease, the previously agreed lease rent continues to be paid by the Company on the basis of the expired lease agreement. The demands previously raised by the Collector of Mumbai (the Collector) have been set aside by the Honorable High Court of Bombay, and the Court has directed the Collector to re-assess the lease rent. As of the Balance Sheet date, no revised demand is received.

5. In the previous years, the Net share of revenue (i.e. net share in profit) has been recognized as income from operation after considering estimated construction cost. These estimations of the income may vary upon finalisation of Project cost.

8. The Company has classified the various benefits provided to employees as under: I) Defined Contribution Plan

a) Provident Fund

b) Superannuation Fund and Pension Scheme -1995

The Company has recognized the following amounts in the Profit and Loss account which are included under Contribution to Provident Fund and Other Funds;

II) Defined Benefits Plans

a) Contribution to Gratuity Fund (Non- Funded)

b) Leave Encashment (Non-Funded)

11. The Companys main business activity constitutes developing real estate, which is the only reporting segment.

12. Related Party Disclosure (As identified by the management):

(i) Related Party Relationship during the year

(a) Associates Simplex Papers Ltd.

Simplex Mills Company Ltd.

(b) Subsidiary Company Simplex Renewable Resources Pvt. Ltd.

(c) Key Management Personnel Mr. Nandan Damani - Managing Director

(d) Relative of Key Management Personnel Mr. S. K. Somany

(e) Where persons mentioned in (c) or (d) Lucky Vyapaar & Holdings Pvt. Ltd. exercise significant influence

Enas Foundation

Ratanbai Surajratan Damani Educational Trust

14. Previous years figures have been regrouped wherever necessary to conform to the current years presentation.

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Mar 31, 2010

1. Contingent liabilities not provided for:

Claims against the Company not acknowledged as debts Rs. 35.41 Lacs (Previous Year Rs. 35.81 Lacs)

2. The Company has not received any intimation from "suppliers" regarding their status under the Micro, Small and Medium Enterprises Development Act, 2006 and hence disclosures, if any, relating to amounts unpaid as at the year end together with interest paid/ payable as required under the said Act have not been given.

3. The lease of the land at Mumbai has expired and it is yet to be renewed by the Collector of Mumbai. Pending renewal of the lease, the previously agreed lease rent continues to be paid by the Company on the basis of the expired lease agreement. The demands previously raised by the Collector of Mumbai (the Collector) have been set aside by the Honorable High Court of Mumbai, and the Court has directed the Collector to re-assess the lease rent. As of the Balance Sheet date, no revised demand is received. During the year 2008-09 the Company has provided Rs.36.53 lacs as lease rent for the period from April 1983 to March 2004 based on valuation report of an eminent approved valuer. The lease rent from the period April 2004 onwards will be borne by the flat owners of the apartment built on leasehold land.

4. Unamortised balance of Voluntary Retirement Scheme and Gratuity paid in earlier years was shown hitherto under Property Development Account and the proportionate cost was being recognized in the Profit and Loss Account as a part of Realty Development cost. During the year, in compliance with Accounting Standard (AS-15) "Employee Benefits (Revised)", unamortised portion of deferred revenue expenditure (VRS and Gratuity) at the year end has been fully charged and shown under extraordinary items.

5. Revenue arising from developable land represents the Companys share in profit from the project "Planet Godrej" after reducing estimated cost. This estimate may vary on finalisation of the construction cost with the developer upon completion of the project.

6. The Companys main business activity constitutes developing real estate, which is the only reporting segment.

7. Related Party Disclosure (As identified by the Management):

(i) Related Party Relationship during the year

(a) Associates Simplex Papers Ltd.

Simplex Mills Company Ltd.

(b) Key Management Personnel Mr. Nandan Damani - Managing Director

(c) Relative of Key Management Personnel Mr. S.K.Somany

(d) Where persons mentioned in (b) or (c) Lucky Vyapaar & Holdings Pvt.Ltd. exercise significant influence Enas Foundation

8. Previous years figures have been regrouped wherever necessary to conform to the current years presentation.