Notes to Accounts of SV Global Mill Ltd.

Mar 31, 2025

B. Rights, preferences and restrictions attached to equity shares

The Company has a single class of equity shares having par value of Rs. 5 per share. Each shareholder is eligible for one vote per share held. On winding up of the Company, the holders of equity shares will be entitled to receive the residual assets of the Company, remaining after distribution of all preferential amounts in proportion to the number of equity shares held. During the year ended 31 March 2025, the Company has not declared any dividend.

D. Details of aggregate number and class of shares issued other than by way of cash, issue of bonus shares and shares bought back for 5 years immediately preceeding the balance sheet date.

The Company had not alloted shares as fully paid up pursuant to contract without payment being received in cash.

The Company had not alloted Bonus shares.

The Company has bought back 42,36,440 equity shares during the year ended 31st March 2019.

Additional Regulatory Information

(i) Title deeds of all the immoveable property held by the company are in the name of the company.

(ii) The company has not classified any of its properties as investment properties and hence the neccesity of valuation does not arise.

(iii) The company has not revalued any of its property, plant and equipment.

(iv) There are no intangible assets and hence the neccesity of valuation does not arise.

The company has not granted any loans to promoters, directors, KMPs and the related parties either severally or

(v) jointly with any other person that are repayable on demand or without specifying any terms and conditions of repayment

(vi) There is no Capital work in progress during the year.

(_vii) There are no Intangible assets under development.

There are no proceedings initiated or pending against the company for holding any benami property under the

^(viii) Benami Transactions (Prohibition) Act, 1988 and rules made thereunder.

(ix) The company has not borrowed any monies from banks or financial institution on the basis of security as current assets.

(x) The Company has not been declared as a wilful defaulter by any bank or financial institution.

(xi) The company has not transacted with companies struck of under section 248 of the Companies Act, 2013 or section 560 of the Companies Act, 1956.

(xii) There are no charges or satisfaction yet to be registered with ROC beyond the statutory period.

(xiii) The company has complied with the number of layers prescribed under clause (87) of section 2 of the Act, read with the Companies (Restriction on number of layers) Rules, 2017.

(xv) The company has not entered into any scheme of arrangment during the year.

(xvi) A. The company has not advanced or loaned or invested funds to any other persons or entities including foreign entities (Intermediaries) with understanding that the intermediary shall

(a) directly or indirectly, lend or invest in other persons or entities identified in any manner whatsoever by or on behalf of the company (ultimate beneficiary) or ;

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

B. The company has not received any funds from any persons or entities including foreign entities (Intermediaries) with understanding that the intermediary shall

(a) directly or indirectly, lend or invest in other persons or entities identified in any manner whatsoever by or on behalf of the company (ultimate beneficiary) or ;

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

Reason for Deviations by more than 25% d) Return on equity Ratio

The Variance is due to decrease in profit earned during the current year as comparred to that in the previous financial year

i) Net Profit Ratio

The variance is due to decrease in profit earned during the current year as compared to that in the previous financial year

j) Return on Capital Employed

The variance is due to decrease in profit earned during the current year as compared to that in the previous financial year.

k) Return on Investment

The variance is due to decrease in profit earned during the current year as compared to that in the previous financial year.

B. Risk Management (i) Credit Risk

Credit risk primarily arises from cash and cash equivalents, trade receivables and investments carried at amortised cost. The Company considers the probability of default upon initial recognition of asset and whether there has been a significant increase in credit risk on an ongoing basis throughout each reporting period. To assess whether there is a significant increase in credit risk the Company compares the risk of a default occurring on the asset as at the reporting date with the risk of default as at the date of initial recognition. It considers available reasonable and supportive forward looking information.

a. Cash and Cash Equivalents

Credit risk on cash and cash equivalents is limited as the Company generally invests in deposits with banks with high credit ratings assigned by domestic credit rating agencies.

b. Trade Receivables:

The maximum exposure to the credit risk at the reporting date is primarily from trade receivables. Trade receivables are typically unsecured and are derived from revenue earned from customers primarily located in India. The Company does monitor the economic environment in which it operates. The Company manages its credit risk through credit approvals, establishing credit limits and continuously monitoring credit worthiness of customers to which the Company grants credit terms in the normal course of business.

The Company establishes an allowance for impairment that represents its expected credit losses in respect of trade receivable and other financial assets. The management uses a simplified approach (i.e. based on lifetime ECL) for the purpose of impairment loss allowance, the company estimates amounts based on the business environment in which the Company operates, and management considers that the trade receivables are in default (credit impaired) when counterparty fails to make payments for receivable more than 2 years past due. However, the Company based upon historical experience determine an impairment allowance for loss on receivables.

(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 to managing liquidity is to ensure, as far as possible, that it will have sufficient liquidity to meet its liabilities when they are fallen due, under both normal and stressed conditions, without incurring unacceptable losses or risking damage to the Company''s reputation.

The Company believes that its liquidity position, including total cash and cash equivalent and bank balances other than cash and cash equivalent of Rs 481.39 lakh as at 31.03.2025 (823.72 lakh as at 31.03.2024) , anticipated future internally generated funds from operations, enable it to meet its future known obligations in the ordinary course of business. However, if a liquidity needs were to arise, the Company believes it has access to financing arrangements, value of unencumbered assets, which should enable it to meet its ongoing capital, operating, and other liquidity requirements. The Company will continue to consider various borrowing or leasing options to maximize liquidity and supplement cash requirements as necessary.

The Company''s liquidity management process as monitored by management includes the following:

I. Day to day funding, managed by monitoring future cash flows to ensure that requirements can be met.

II. Maintaining rolling forecasts of the Company''s liquidity position on the basis of expected cash flows.

III. Market Risk

Market risk is the risk that the future cash flows of a financial instrument will fluctuate because of changes in market prices. Market risk comprises two types of risk: Currency risk and Interest rate risk. The objective of market risk management is to manage and control market risk exposures within acceptable parameters, while optimising the return.

a. Currency Risk

Currency risk is the risk that the future cash flows of a financial instrument will fluctuate because of changes in foreign exchange rates. The Company is not exposed to the effects of fluctuation in the prevailing foreign currency exchange rates on its financial position and cash flows as there is no foreign currency exposure.

b. Interest Rate Risk

Interest rate risk is the risk that the future cash flows of a financial instrument will fluctuate because of changes in market interest rates. The company has not borrowed any funds from banks/financial institutions/other and thereby there is no foreseeable risk due to change in interest rates.

24. Capital Management:

For the purpose of the Company''s capital management, capital includes issued equity share capital and all other equity reserves attributable to the equity holders of the Company.

The company''s objectives when managing capital are to:

I. safeguard their ability to continue as a going concern, so that they can continue to provide returns for shareholders and benefits for other stakeholders, and

II. maintain an optimal capital structure to reduce the cost of capital.

In order to maintain or adjust the capital structure, the Company may adjust the amount of dividends paid to shareholders, return capital to shareholders, issue new shares or sell assets to reduce debt.

The Company monitors capital on the basis of the debt to capital ratio, which is calculated as interestbearing debts divided (total borrowings net of cash and cash equivalents) by Total Equity (equity attributable to owners of the parent plus interest-bearing debts). (Rs. In Lakhs)

Based on the current scenario considering the capital requirement for operation of the company as decided by the management the company has not borrowed any amounts from Banks/Financial Institutions/Others.

27. Capital Advance

Pursuant to the scheme of demerger of erstwhile Binny Limited as approved by the Hon''ble High Court of Madras, the amounts payable by M/s Padmadevi Sugars Ltd to erstwhile Binny Limited amounting to Rs. 21.34 crore was allocated to S V Global Mill Limited as treated as recoverable from M/s Padmadevi Sugars Ltd.

M/s Padmadevi Sugars Ltd has been referred to the National Company Law Tribunal by its creditors. Considering the proceedings before the NCLT, the management by way of abundant caution during the financial year 2018-19 provided for the entire amount recoverable from M/s Padmadevi Sugars Ltd.

Pending further developments in the matter, the Impairment allowance is retained at the same level and capital advance is presented net off impairment allowance.

28. Exceptional Item:

The erstwhile Binny Limited could not operate the Bangalore Woollen, Cotton and Silk Mills, Bangalore and the factory declared a lock out during the period 26.12.1988 to 05.08.1989. Consequently, the dispute regarding wages during lock out period arose and Industrial Tribunal vide I.D. 9/1990 dated 03.11.1990 passed an award against Binny Ltd for payment of wages and other benefits for the lock out period.

Against the order of the Industrial Tribunal, a Writ Appeal was filed before the Hon''ble High Court of Karnataka, by erstwhile M/s Binny Ltd which was dismissed. Against the order of the Hon''ble High Court of Karnataka a Special Leave Petition was filed by erstwhile M/s Binny Ltd before the Hon''ble Supreme Court of India which was also dismissed. Thereafter, the matter was referred back to the Deputy Labour Commissioner (DLC), Division - I, Bangalore for determination settlement payable to the labourers. In the meanwhile, as per the Scheme of demerger approved by the Hon''ble High Court of Madras, M/s. SV Global Mill Ltd has taken over this dispute.

During the financial year 2017-18, the Deputy Labour Commissioner ordered to settle the amounts to the respective labourers covered by the order and accordingly the company during the year has paid an amount of NIL (previous year Rs. 4,89,616) and the same has been treated as Exceptional Item in the Statement of Profit and Loss for the year ended 31st March 2025.

Out of the total payable of Rs. 5,68,42,280 as result of the order, the company has settled an amount of Rs. 2,95,21,742 till 31st March 2025. The balance amount of Rs. 2,78,10,154 is expected to be settled as and when the claim is lodged by those entitled to it.

30. Claims not acknowledged as debt

During the financial year 2016-17, the company has received legal notices from various statutory authorities pertaining to the affairs of Binny Limited. As the company is not involved in the allegations/disputes, the company has challenged the issue of notices on M/s. SV Global Mill Limited.

The Wealth Tax Authorities has reassessed the wealth tax for the FY 2010-11 to FY 2014-15 resulting in the demand of Rs.12.63 crores. Against the orders passed by the wealth tax authorities, the company has filed appeals before the commissioner of Wealth Tax (Appeals) which is pending. Pending appeals, the company has paid an amount of Rs.2 crores in aggregate under protest for the aforesaid FYs.

31: Appeal for enhanced compensation on compulsory acquisition

Lands to the extent of 3 acres and 16 guntas was compulsorily acquired during the year 2013-14, by the Special Land Acquisition Officer (SLOA), Government of Karnataka for public purpose. In respect of the compulsory acquisition, the Company during the financial year 2014-15 received compensation under the Right to Fair Compensation & Transparency in Land Acquisition, Rehabilitation and Resettlement Act, 2013 (LARR 2013).

The award was accepted under protest with regard to the determination of market value, the manner and the method of computation of compensation and an application requesting enhancement of compensation was filed.

In the meanwhile, against order enhancing the compensation for compulsory acquisition, the Government of Karnataka filed an appeal before the Hon''ble High Court of Karnataka. An appeal of the Government of Karnataka against the order of the Civil Court was dismissed by the Hon''ble High Court of Karnataka against which a SLP was filed before the Hon''ble Supreme Court of India. The Hon''ble Supreme Court of India on 10th August 2021 remitted back the review petition to the Hon''ble High Court of Karnataka for order on merits. The Hon''ble High Court of Karnataka vide its order dated 21st October 2022 dismissed the review petition as not maintainable against the order. Against the order, the Government of Karnataka has filed an SLP before the Hon''ble Supreme Court of India, which is pending. Pending finality of the matter, the enhanced compensation is not recorded in the books of accounts.

32: Undisclosed Income

There was no transaction that were not recorded in the books of accounts that has been surrendered or disclosed as income during the year in the tax assessments under the Income Tax Act, 1961

33: Corporate Social Responsibility

The company has not exceeded the threshold limits specified under sub section 1 of section 135 of the Companies Act 2013 and as a result there is no requirement for spending on CSR Activities

34: Details of Crypto Currency or Virtual Assets

The company has not traded or invested in crypto currency or virtual currency during the financial year.

35: Disclosure as required by Micro, Small and Medium Enterprises Development Act, 2006: The

company has not received any information 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 yearend together with interest paid / payable as required under the said Act have not been made.

37: Figures in the financial statements and in the Notes have been rounded off to the nearest Lakh

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Mar 31, 2024

A. Rights, preferences and restrictions attached to equity shares

The Company has a single class of equity shares having par value of Rs. 5 per share. Each shareholder is eligible for one vote per share held. On winding up of the Company, the holders of equity shares will be entitled to receive the residual assets of the Company, remaining after distribution of all preferential amounts in proportion to the number of equity shares held. During the year ended 31 March 2024, the Company has not declared any dividend.

^D Details of aggregate number and class of shares issued other than by way of cash, issue of

bonus shares and shares bought back for 5 years immediately preceeding the balance sheet date.

The Company had not alloted shares as fully paid up pursuant to contract without payment being

received in cash.

The Company had not alloted Bonus shares.

The Company has bought back 42,36,440 equity shares during the year ended 31st March 2019.

Additional Regulatory Information

(i) Title deeds of all the immoveable property held by the company are in the name of the company.

(ii) The company has not classified any of its properties as investment properties and hence the neccesity of valuation does not arise.

(iii) The company has not revalued any of its property, plant and equipment.

(iv) There are no intangible assets and hence the neccesity of valuation does not arise.

The company has not granted any loans to promoters, directors, KMPs and the related parties either

(v) severally or jointly with any other person that are repayable on demand or without specifying any terms and conditions of repayment

(vi) There is no Capital work in progress during the year.

(_vii) There are no Intangible assets under development.

There are no proceedings initiated or pending against the company for holding any benami property

^(viii) under the Benami Transactions (Prohibition) Act, 1988 and rules made thereunder.

(ix) The company has not borrowed any monies from banks or financial institution on the basis of security as current assets.

(x) The Company has not been declared as a wilful defaulter by any bank or financial institution.

(xi) The company has not transacted with companies struck of under section 248 of the Companies Act, 2013 or section 560 of the Companies Act, 1956.

(xii) There are no charges or satisfaction yet to be registered with ROC beyond the statutory period.

(xiii) The company has complied with the number of layers prescribed under clause (87) of section 2 of the Act, read with the Companies (Restriction on number of layers) Rules, 2017.

(xv) The company has not entered into any scheme of arrangment during the year.

(xvi) A. The company has not advanced or loaned or invested funds to any other persons or entities including foreign entities (Intermediaries) with understanding that the intermediary shall

(a) directly or indirectly, lend or invest in other persons or entities identified in any manner whatsoever by or on behalf of the company (ultimate beneficiary) or ;

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

B. The company has not received any funds from any persons or entities including foreign entities (Intermediaries) with understanding that the intermediary shall

(a) directly or indirectly, lend or invest in other persons or entities identified in any manner whatsoever by or on behalf of the company (ultimate beneficiary) or ;

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

(xiv) RatiosBasis for Ratios

a) Current Ratio = Current Assets / Current Liabilities

b) Debt - Equity Ratio = Total Debt (Current Non-Current) / Equity

c) Debt Services Coverage Ratio = Profit before Interest depreciation and Tax/ Debt service

d) Return on equity Ratio = Profit (or) Loss for the year / Equity

e) Inventory Turnover Ratio = COGS / Average Inventory

f) Trade Receviables Turnover Ratio = Turnover/ Average Trade Receivables f) Trade Payables Turnover Ratio = Purchase/ Trade payables

h) Net Capital Turnover Ratio = Turnover/ Working capital

i) Net Profit Ratio = Net Profit/ Turnover

j) Return on Capital Employed = Profit / (Loss) before Tax/ Capital employed

Reason for Deviations by more than 25%

a) Return on equity Ratio

The Variance is due to decrease in profit earned during the current year as comparred to that in the previous financial year

b) Net Profit Ratio

The variance is due to decrease in profit earned during the current year as compared to that in the previous financial year

c) Return on Capital Employed

The variance is due to decrease in profit earned during the current year as compared to that in the previous financial year.

d) Return on Investment

The variance is due to decrease in profit earned during the current year as compared to that in the previous financial year.

B. Risk Management (i). Credit Risk

Credit risk primarily arises from cash and cash equivalents, trade receivables and investments carried at amortised cost. The Company considers the probability of default upon initial recognition of asset and whether there has been a significant increase in credit risk on an ongoing basis throughout each reporting period. To assess whether there is a significant increase in credit risk the Company compares the risk of a default occurring on the asset as at the reporting date with the risk of default as at the date of initial recognition. It considers available reasonable and supportive forward looking information.

a) Cash and Cash Equivalents

Credit risk on cash and cash equivalents is limited as the Company generally invests in deposits with banks with high credit ratings assigned by domestic credit rating agencies.

b) Trade Receivables

The maximum exposure to the credit risk at the reporting date is primarily from trade receivables. Trade receivables are typically unsecured and are derived from revenue earned from customers primarily located in India. The Company does monitor the economic environment in which it operates. The Company manages its credit risk through credit approvals, establishing credit limits and continuously monitoring credit worthiness of customers to which the Company grants credit terms in the normal course of business.

The Company establishes an allowance for impairment that represents its expected credit losses in respect of trade receivable and other financial assets. The management uses a simplified approach (i.e. based on lifetime ECL) for the purpose of impairment loss allowance, the company estimates amounts based on the business environment in which the Company operates, and management considers that the trade receivables are in default (credit impaired) when counterparty fails to make payments for receivable more than 2 years past due. However the Company based upon historical experience determine an impairment allowance for loss on receivables.

(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 to managing liquidity is to ensure, as far

as possible, that it will have sufficient liquidity to meet its liabilities when they are fallen due, under both normal and stressed conditions, without incurring unacceptable losses or risking damage to the Company''s reputation.

The Company believes that its liquidity position, including total cash and cash equivalent and bank balances other than cash and cash equivalent of Rs 823.72 lakh as at 31.03.2024 (715.17 lakh as at 31.03.2023), anticipated future internally generated funds

from operations, enable it to meet its future known obligations in the ordinary course of business. However, if a liquidity needs

were to arise, the Company believes it has access to financing arrangements, value of unencumbered assets, which should enable it to meet its ongoing capital, operating, and other liquidity requirements. The Company will continue to consider various borrowing or leasing options to maximize liquidity and supplement cash requirements as necessary.

The Company''s liquidity management process as monitored by management includes the following:

i. Day to day funding, managed by monitoring future cash flows to ensure that requirements can be met.

ii. Maintaining rolling forecasts of the Company''s liquidity position on the basis of expected cash flows.

(iii). Market Risk

Market risk is the risk that the future cash flows of a financial instrument will fluctuate because of changes in market prices. Market risk comprises two types of risk: Currency risk and Interest rate risk. The objective of market risk management is to manage and control market risk exposures within acceptable parameters, while optimising the return.

a) Currency Risk

Currency risk is the risk that the future cash flows of a financial instrument will fluctuate because of changes in foreign exchange rates. The Company is not exposed to the effects of fluctuation in the prevailing foreign currency exchange rates on its financial position and cash flows as there is no foreign currency exposure.

b) Interest Rate Risk

Interest rate risk is the risk that the future cash flows of a financial instrument will fluctuate because of changes in market interest rates. The company has not borrowed any funds from banks/financial institutions/other and thereby there is no foreseeable

risk due to change in interest rates._

24. Capital Management

For the purpose of the Company''s capital management, capital includes issued equity share capital and all other equity reserves

attributable to the equity holders of the Company.

The company''s objectives when managing capital are to

safeguard their ability to continue as a going concern, so that they can continue to provide returns for shareholders and benefits for other stakeholders, and

ii. maintain an optimal capital structure to reduce the cost of capital.

In order to maintain or adjust the capital structure, the Company may adjust the amount of dividends paid to shareholders, return capital to shareholders, issue new shares or sell assets to reduce debt.

The Company monitors capital on the basis of the debt to capital ratio, which is calculated as interest-bearing debts divided (total borrowings net of cash and cash equivalents) by Total Equity (equity attributable to owners of the parent plus interestbearing debts).

27. Capital Advance

Pursuant to the scheme of demerger of erstwhile Binny Limited as approved by the Hon''ble High Court of Madras, the amounts payable by M/s Padmaadevi Sugars Ltd to erstwhile Binny Limited amounting to Rs. 21.34 crore was allocated to S V Global Mill Limited as treated as recoverable from M/s Padmadevi Sugars Ltd.

M/s Padmadevi Sugars Ltd has been referred to the National Company Law Tribunal by its creditors. Considering the proceedings before the NCLT, the management by way of abundant caution during the financial year 2018-19 provided for the entire amount recoverable from M/s Padamadevi Sugars Ltd.

Pending further developments in the matter, the Impairment allowance is retained at the same level and capital advance is presented net off impairment allowance.

28. Exceptional Item

The erstwhile Binny Limited could not operate the Bangalore Wollen, Cotton and Silk Mills, Bangalore and the factory declared a lock out during the period 26.12.1988 to 05.08.1989. Consequently, the dispute regarding wages during lock out period arose and Industrial Tribunal vide I.D. 9/1990 dated 03.11.1990 passed an award against Binny Ltd for payment of wages and other benefits for the lock out period.

Against the order of the Industrial Tribunal, a Writ Appeal was filed before the Hon''ble High Court of Karnataka, by erstwhile M/s Binny Ltd which was dismissed. Against the order of the Hon''ble High Court of Karnataka a Special Leave Petition was filed by erstwhile M/s Binny Ltd before the Hon''ble Supreme Court of India which was also dismissed. Thereafter, the matter was referred back to the Deputy Labour Commissioner (DLC), Division - I, Bangalore for determination settlement payable to the labourers. In the meanwhile, as per the Scheme of demerger approved by the Hon''ble High Court of Madras, M/s. SV Global Mill Ltd has taken over this dispute.

During the financial year 2017-18, the Deputy Labour Commissioner ordered to settle the amounts to the respective labourers covered by the order and accordingly the company during the year has paid an amount of Rs. 4,89,616 (previous year Rs.9,36,323) and the same has been treated as Exceptional Item in the Statement of Profit and Loss for the year ended 31st March 2023.

Out of the total payable of Rs. 5,68,42,280 as result of the order, the company has settled an amount of Rs. 2,95,21,742 till 31st March 2024. The balance amount of Rs. 2,78,10,154 is expected to be settled as and when the claim is lodged by those entitled to it.

30. Claims not acknowledged as debt

During the financial year 2016-17, the company has received legal notices from various statutory authorities pertaining to the affairs of Binny Limited. As the company is not involved in the allegations/disputes, the company has challenged the issue of notices on M/s. SV Global Mill Limited.

The Wealth Tax Authorities has reassessed the wealth tax for the FY 2010-11 to FY 2014-15 resulting in the demand of Rs.12.63 crores. Against the orders passed by the wealth tax authorities, the company has filed appelas before the commissioner of Wealth Tax (Appeals) which is pending. Pending appeals the company has paid an amount of Rs.2 crores in aggregate under protest for the aforesaid FYs.

31. Appeal for enhanced compensation on compulsory acquisition

Lands to the extent of 3 acres and 16 guntas was compulsorily acquired during the year 2013-14, by the Special Land Acquisition Officer (SLOA), Government of Karnataka for public purpose. In respect of the compulsory acquisition, the Company during the financial year 2014-15 received compensation under the Right to Fair Compensation & Transparency in Land Acquisition, Rehabilitation and Resettlement Act, 2013 (LARR 2013) .

The award was accepted under protest with regard to the determination of market value, the manner and the method of Upon hearing the protest application, the II-Additional City Civil and Session Judge vide his order dated 29.10.2018

In the meanwhile, against order enhancing the compensation for compulsory acquisition, the Government of Karnataka filed an appeal before the Hon''ble High Court of Karnataka. An appeal of the Government of Karnataka against the order of the Civil Court was dismissed by the Hon''ble High Court of Karnataka against which a SLP was filed before the Hon''ble Supreme Court of India. The Hon''ble Supreme Court of India on 10th August 2021 remitted back the review petition to the Hon''ble High Court of Karnataka for order on merits.The Hon''ble High Court of Karnataka vide its order dated 21st October 2022 dismissed the review petition as not maintanable against the order. Against the order, the Government of Karnataka has filed an SLP before the Hon''ble Supreme Court of India, which is pending. Pending finality of the matter, the enhanced compensation is not recorded in the books of accounts.

32. Undisclosed Income

There were no transaction that were not recorded in the books of accounts that has been surrendered or disclosed as income during the year in the tax assessments under the Income Tax Act, 1961

33. Corporate Social Responsibility

The company has not exceeded the threshold limits specified under sub section 1 of section 135 of the Companies Act 2013 and as a result there is no requirement for spending on CSR Actvities

34. Details of Crypto Currency or Virtual Assets

The company has not traded or invested in cypto currency or virtual currency during the finanical year.

35. Disclosure as required by Micro, Small and Medium Enterprises Development Act, 2006

The company has not received any information 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 yearend together with interest paid / payable as required under the said Act have not been made.

37. Figures in the financial statements and in the Notes have been rounded off to the nearest Lakh

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Mar 31, 2018

1. REPORTING ENTITY

S V Global Mill Ltd (S V Global or the Company) is company registered under the erstwhile Companies Act, 1956 with its registered office at New No. 5/1, Old No. 3/1, 6th Cross Street, CIT Colony, Mylapore, Chennai - 600004 and is also listed with the Bombay Stock Exchange Limited. S V Global is engaged in the business of real estate.

2. BASIS OF PREPARATION

a) Statement of Compliance

The Company has adopted the Ind AS in preparation of the financial statements with effect from 01st April 2017, with transition date of 01st April 2016 as notified by the Ministry of Corporate Affairs vide Notification No. G.S.R. 111(E) dated 16th February 2015 as amended from time to time. Accordingly, the financial statements have been prepared in accordance with Indian Accounting Standards (''Ind AS'') as prescribed under section 133 of the Companies Act, 2013 (the "Act"), read together with the Companies (Indian Accounting Standards) Rules, 2015, relevant provisions of the Act and other accounting principles generally accepted in India.

The financial statements for the year ended 31st March 2018 are the first financial statements of the Company prepared under Ind AS. Certain of the Company''s Ind AS accounting policies used in the opening balance sheet differed from its Previous GAAP policies applied as at 31st March 2016, and accordingly adjustments were made to restate the opening balances and/or the comparative financial information as per Ind AS. The resulting adjustments arose from events and transactions before the date of transition to Ind AS. Therefore, as required by Ind AS 101, those adjustments were recognized directly through retained earnings as at 01st April 2016.

As these are the Company''s first financial statements prepared in accordance with Ind AS, Ind AS 101, First-time Adoption of Indian Accounting Standards has been applied. An explanation of how the transition to Ind AS has affected the previously reported financial position, financial performance and cash flows of the Company is provided in Note No. 22 of the financial statements.

b) Functional Currency

The management has determined the currency of the primary economic environment in which the Company operates i.e., functional currency, to be Indian Rupees (INR). The financial statements are presented in Indian Rupees (''INR'') which is the Company''s functional currency and presentational currency.

c) Basis of Measurement

The financial statements have been prepared on a historical cost basis, except otherwise stated.

d) Use Of Estimates

The preparation of financial statements requires estimates and assumptions to be made that affect the reported amount of assets and liabilities on the date of the financial statements and the reported amount of revenues and expenses during the reporting period. Although these estimates are based on the management''s best knowledge of current events and actions, uncertainty about these assumptions and estimates could result in the outcomes, requiring a material adjustment in the carrying amounts of assets or liabilities in the future periods. Difference between the actual results and estimates are recognized in the period in which the results are known or materialized.

e) Significant Estimates and Judgements

In preparing these financial statements, management has made judgements, estimates and assumptions that affect the application of accounting policies and the reported amounts of assets, liabilities, income and expenses.

Estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised prospectively.

- Estimation of useful life of Property, Plant and Equipment and residual values

- Estimation and evaluation of provisions and contingencies

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Mar 31, 2016

NOTE 17: OTHER NOTES ON ACCOUNTS 1. CORPORATE INFORMATION

S V Global Mill Limited was incorporated on 30^th October 2007 under the Companies Act, 1956 and is listed in the Bombay Stock Exchange. The company is engaged in the business of real estate property development and has undertaken the related activities during the year in this regard

1. Lands to the extent of 3 acres and 16 gun as was acquired during the year 2013-14, by Government of Karnataka for public purpose for which the Company received compensation under the Right to Fair Compensation & Transparency in Land Acquisition Rehabilitation and Resettlement Act, 2013 (LARR 2013).During the financial year 2014-15, the total compensation amounting of Rs.142.56 crore was recognized as income. As per section 96 of the LARR Act, no Income Tax shall be levied on any award under the said Act. During the financial year 2015-16, the Company received interest on delayed compensation amounting to Rs.12.26 crore. The Management is of the view that interest is also part of the award covered by Section 96 of the LARR Act and not liable to income tax. Hence, no provision is made on the interest received.

2. Related Party Disclosure:

a) Parties where control exists:

M. Ethiraj (Father of E Shanmugam)

E. Shanmugam (Son of M Ethiraj)

Mrs. S Valli (Daughter of M. Ethiraj & Sister of E. Shanmugam)

b) Other Related Parties:

Tiger Farms Private Limited

Srinidhi Finance Private Limited

c) Transactions during the year

3. Capital Advance:

Pursuant to the scheme of demerger of erstwhile Binny Limited as approved by the Hon’ble High Court of Madras, the amounts payable by M/s S V Sugars Limited to erstwhile Binny Limited was allocated to S V Global Mill Limited. The amount recoverable as at 31st March 2016 amounting to Rs. 21.34 crore(previous year Rs. 21.34 crore) from M/s S V Sugars Limited, is disclosed under the head Capital Advance in Note 8 of the Financial Statement. The Management is of the view that the same is recoverable.

4. Labor Case:

Labor disputes (amount not ascertained) pending with the Hon''ble High Court of Karnataka, Bangalore, Karnataka. However the company is contesting the case against the labor claims.

5. The Managing Director Mr. E. Shanmugam is eligible for a Remuneration of up to Rs.5 lakhs per annum as per the Resolution of the Shareholders dated 29-09-2012. However, a sum of Rs.48, 000/- only has been provided for the financial year 2015-16.

6. The Company has not received any information 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 yearend together with interest paid / payable as required under the said Act have not been made.

7. Capital expenditure commitments pending and remaining to be executed as on March 31, 2016 - Rs.1.10 crore.

8. Figures in the financial statements and in the Notes have been rounded off to the nearest rupee.

9. Previous year figures have been regrouped wherever necessary to conform to current period classification/ grouping.

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Mar 31, 2015

Terms/Rights attached to various classes of Shareholders Equity Shareholders:

Every shareholder is entitled to such rights as to attend the meeting of the shareholders, to receive dividend distributed and also has a right in the residual interest in the assets of the company. Every shareholder is also entitled to right of inspection of documents as provided in the Companies Act, 2013.

Preference Shareholders:

Every shareholder is entitled to the fixed rate of dividend (cumulative) as per the terms of issue, They are entitled to the capital in preference to the equity shareholders in case of liquidation.

OTHER NOTES ON ACCOUNTS

1. CORPORATE INFORMATION

S V Global Mill Limited was incorporated on 30th October 2007 under the Companies Act, 1956 and is listed in the Bombay stock Exchange. The company is engaged in the business of real estate property development and has undertaken the related activities during the year in this regard

2. In respect of Lands to the extent of 3 acres and 16 guntas acquired during the year 2013-14, by Government of Karnataka for public purpose for which the Company is entitled to compensation under the Right to Fair Compensation & Transparency in Land Acquisition Rehabilitation and Resettlement Act, 2013 (LARR 2013), the company has received the Final award and the total compensation amount of Rs.142.56 crores has been recognized as Income during the year. As per section 96 of the LARR Act, no Income Tax shall be levied on any award under the said Act.

3. Related Party Disclosure:

(a) Parties where control exists:

Mr. M. Ethiraj (Father of Mr. E.Shanmugam)

Mr. E. Shanmugam (Son of Mr.M Ethiraj)

Mrs S Valli (Daughter of Mr.M.Ethiraj, Sister of Mr.E.Shanmugam)

Other Related Parties:

The Thirumagal Mills Limited Tiger Farms Private Limited Srinidhi Finance Private Limited

4. Provision for Dividend on cumulative preference shares

Provision for dividend on cumulative shares has been made at Rs. 0.45 per share on 9% preference shares of 2,39,02,516 from 01.10.2005 to 31.03.2015 and 0.4875 per share on 9.75% preference shares of 39,200 from 01.07.2006 to 31.03.2015.

5. Deferred Tax Asset:

The company has carry forward losses under the income tax law as at the reporting date. In the absence of virtual certainty supported by convincing evidence no Deferred Tax Asset has been recognized in the financial statements. Similarly Deferred Tax Asset in respect of timing difference on account of difference between book depreciation and tax depreciation has been recognized in the financial statements only to the extent of reducing the opening balance of Deferred Tax Liability of Rs.24042/- to NIL.

The company is in the process of approaching the Income Tax Department for apportioning the brought forward losses and business losses as per the Income Tax Act. Hence, on a conservative basis, the net deferred tax assets are not recognized in the balance sheet as on 31st March 2015 as a measure of prudence.

6. The Managing Director Mr E. Shanmugam is eligible for a Remuneration of up to Rs.5 lakhs per annum as per the Resolution of the Shareholders dated 29-09-2012. However, in view of the Losses during the years 2012-13 and 2013-14, the Managing Director was not paid any remuneration for these years. Now in view of profits during the current year and as per the arrangement with the Managing Director, a sum of Rs.48000/- per annum has been provided towards Remuneration for the financial years 2012-13, 2013-14 & 2014-15.

7. The company has not received any information 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 yearend together with interest paid / payable as required under the said Act have not been made.

8. Labour case:

Labour disputes case (amount not ascertained) is pending with the High court of Karnataka, Bangalore, Karnataka State. However the company is contesting the case against the labour claims.

9. Capital expenditure commitments pending and remaining to be executed as on March 31, 2015 Rs.419.41 Lakhs.

10. The company has revised the useful life of fixed assets in accordance with Part C of Schedule II to the Companies Act, 2013. Consequently the impact on Statement of Profit and Loss for the year ended on March 31, 2015 is increase in depreciation charge by Rs.19.15 Lakhs.

11. Figures in the financial statements and in the Notes have been rounded off to the nearest rupee.

12. Previous year figures have been regrouped wherever necessary to conform to current period classification/ grouping.

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Mar 31, 2014

1. a) Terms/rights attached to various classes of shareholders

Equity Shareholders:

Every shareholder is entitled to such rights as to attend the meeting of the shareholders, to receive dividend distributed and also has a right in the residual interest of the assets of the Company. Every shareholder is also entitled to right of inspection of documents as provided in the Companies Act, 1956 Preference Shareholders:

Every shareholder is entitled to the fixed rate of dividend (cumulative) as per the terms of issue.

They are entitled to the capital in preference to the equity shareholders in case of liquidation.

Terms of Issue and redemptions of Cumulative Redeemable Preference Shares: (CPRS)

NOTE. 2:

1. The company had obtained in-principle approval from the Bombay Stock Exchange for listing of its equity shares. Later, the company had approached the Securities Exchange Board of India (SEBI) for obtaining relaxation under Rule 19(2) of Securities Contracts Regulations Rules, 1957. Trading permission has been obtained vide proceedings CFD/DIL/SK/PM/6862/2013 dated 20th March, 2013 and subsequently the shares were listed on 28th May 2013.

2. Lands to the extent of 3 acres and 16 guntas belonging to the Company were acquired during the year by Government of Karnataka for public purposes. Entitlement of compensation to the company is under the Right to Fair Compensation & Transparency in Land Acquisition Rehabilitation and Resettlement Act 2013 (LARR 2013). The Government issued to the Company preliminary notification on 25.06.2013. The Company gave conditional consent on 13.01.2014 and the Government had taken symbolic possession on 16.01.2014. However though an interim compensation of Rs. 70,13,24,574/- was received on 30.04.2014 after the closure of Accounts, the final award is not yet passed and therefore the property has not vested with the Government during the accounting year ended 31st March, 2014. Pending notification of final award and quantification of amount, the Company has not recognized revenue in the nature of compensation for the acquisition.

3. In terms of the scheme of demerger, preference shares were allotted in the resulting companies and the management has decided to carry the arrears of cumulative preference dividend along with the preference shares as under:

4. Related Party Disclosure:

(a) Related parties with whom transactions have taken place during the year

M. Ethiraj E.Shanmugam Tiger Farms Private Limited Srinidhi Finance Private Limited

5. Deferred Tax Asset:

The company is in the process of approaching the Income Tax Department for apportioning the brought forward losses and business losses as per the Income Tax Act. Hence, on a conservative basis, the net deferred tax assets are not recognized in the balance sheet as on 31st March 2014 as a measure of prudence.

6. Previous year figures have been rounded off to the nearest rupee and regrouped wherever necessary.

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Mar 31, 2013

1. CORPORATE INFORMATION

S V Global Mill Limited was incorporated on 30,h October 2007 under the Companies Act, 1956. The Registration Number of the Company is U17100TN2007PLC065226. It obtained a Certificate for Commencement of business on 28lh December 2007. The Company is engaged in the business of property development.

2. The Company had obtained in-principle approval from the Bombay Stock Exchange for listing of its equity shares. Later the Company had approached the Securities Exchange board of India (SEBI) for obtaining relaxation under Rule 19(2) of Securities Contract Regulation Rules, 1957. Trading permission has been obtained vide proceedings CFD/DIL/SK/PM/6862/2013 dated 20th March, 2013 and subsequently the shares were listed on 28th May 2013

3. There is no principal or interest due or unpaid thereon to any suppliers of Micro, Small and Medium Enterprises as at end of the period.

4. In terms of the Scheme the preference shares were allotted in the resulting companies and the management has decided to carry the arrears of cumulative preference dividend along with the preference shares as under.

5. Deferred Tax Liability/Asset

The companies are in the process of approaching the Income Tax Department for apportioning the Brought Forward Depreciation and Business Loss as per the Income Tax Act and on a conservative basis the net deferred tax assets are not recognized in the balance sheet as on 31st March, 2013 as a measure of prudence.

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

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Mar 31, 2012

1. The Company had obtained inrprinciple approval from the Bombay Stock Exchange for listing of its equity shares. Later the Company had approached the Securities Exchange Board of India (SEBI) for obtaining relaxation under Rule 19(2) of Securities Contract Regulation Rules, 1957 and the same is pending.

2. There is no principal or interest due or unpaid thereon to any suppliers of Micro, Small and Medium Enterprises as at the year end. ''

3. In terms of the Scheme the preference shares were allotted in the resulting companies and the management has decided to carry the arrears of cumulative preference dividend along with the preference shares as under.

4. Deferred Tax Liability/Asset

The companies are in the process of approaching the Income Tax Department for apportioning the Brought Forward Depreciation and Business Loss as per the Income Tax Act and on a conservative basis the net deferred tax assets are not recognized in the balance sheet as on 31st March, 2012 as a measure of prudence. .

5. RELATED PARTY DISCLOSURE

Associates

TCP Limited

Mohan Breweries & Distilleries Limited

The Thirumagal Mills Limited Srinidhi Finance Private Limited S.V.Sugar Mills Limited

6. Previous years figures have been regrouped/reclassified, wherever necessary to conform to current period''s presentation.

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Mar 31, 2011

1. The Company had obtained in-principle approval from the Bombay Stock Exchange for listing of its equity shares. Later the Company had approached the Securities Exchange Board of India (SEBI) for obtaining relaxation under Rule 19(2)b) of Securities Contract Regulation Rules, 1957 and the same is pending.

2. Sundry creditors outstanding Rs. 9.22 lakhs as on 31.03.2011 include dues to creditors other than Micro, Small and Medium Enterprises. There is no principal or interest due or unpaid thereon to any suppliers of Micro, Small and Medium Enterprises as at year end.

3. DEFERRED TAX LIABILITY / ASSET

The companies are in the process of approaching the Income Tax Department for apportioning the Brought Forward Depreciation and Business Loss as per the Income Tax Act and on a conservative basis the net deferred tax assets are not recognized in the balance sheet as on 31st March, 2011 as a measure of prudence.

4. RELATED PARTY DISCLOSURE

Associates TCP Limited

Mohan Breweries & Distilleries Limited The Thirumagal Mills Limited SV Sugar Mills Limited

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Mar 31, 2010

1. In terms of Scheme of arrangement under section 391 to 394 of the Companies Act, 1956 between Binny Limited and two other companies viz. S V Global Mill Ltd (Resulting Company 1) and Binny Mills Ltd (Resulting Company 2) the Hon''ble High Court of Madras, vide Order dated 22.04.2010, has reorganized and segregated by way of demerger. The order of the Court was received by the Binny Limited on 07.05.2010. As per the Court direction the certified copy of the order was filed with ROC on 08.05.2010 which is the effective date of the Sanctioned Scheme of arrangement. As per the sanctioned Scheme of arrangement the Appointed date is 1st January 2010, i.e. date on which the demerger related entries have been given effect in the books of the companies.

2. In terms of the said scheme, in consideration of demerger, the shareholders in Binny Ltd shall get in S V Global Mill Limited, in the ratio of

a. 7 (seven) equity share in S V Global Mill Limited of face value of Rs.5/- each credited as fully paid up for every 7 (seven) equity shares of Rs.5/- (Rupees five) each fully paid-up.

b. 1 (one) 9.75% Cumulative Redeemable Preference Share of face value of Rs.5/- (Rupees five) each credited as fully paid up for every 30 (Thirty) 9.75% Cumulative Redeemable Preference Shares of Rs.5/- (Rupees five) each fully paid-up.

c. 138 (One hundred and thirty eight) 9% Cumulative Redeemable Preference Share of face value of Rs.5/- each credited as fully paid up for every 3,125 (Three thousand one hundred and twenty five) 9% Cumulative Redeemable Preference Shares of Rs.5/- each fully paid-up

3. In terms of the sanctioned scheme the following are the Assets and Liabilities, relating to the Properties Undertaking were transferred from Binny Limited to S V Global Mill Limited.

The excess of the value of assets over the value of liabilities transferred pursuant to the Scheme of Arrangement amounting to Rs.1445.17 lakhs has been credited to "Capital Reserve Account".

4. In terms of the Scheme of Arrangement, the Equity Shares and Preference Share capital were issued at the Board Meeting held on 12-05-2010 and the Appointed Date being 01 -01 -2010, the entries relating to Issue of Equity and Preference Shares were shown under Pending Allocation in the Balance sheet as on 31st March, 2010.

5. In terms of the Scheme of Arrangement, the existing paid up equity shares of Rs.500000/-shall be converted into 1,00,000/- 9% Cumulative redeemable preference shares of Rs.5/- each, with effect from the effective date.

6. In terms of the Scheme of Arrangement, the increase in Authorized share Capital was done on the Board Meeting held on 12-05-2010 and the increase in authorized share capital expenses were met out by the Binny Limited as per the Scheme approved by the High Court.

7. In the opinion of the Management, all current assets, loans and advances would in the ordinary course of business realize at the value stated.

8 Sundry creditors outstanding Rs.1.35 lakhs as on 31.03.2010 include dues to creditors other than Micro, Small and Medium Enterprises. There is no principal or interest due or unpaid thereon to any suppliers of Micro, Small and Medium Enterprises as at year end.

9. Provision for income tax is not made in view of the loss for the current period. Consequent to Demerger, the Losses of Binny Limited to be apportioned as per Section 72Aof the Income Tax Act is in progress.

10. DEFERRED TAX LIABILITY /ASSET

The companies are in the process of approaching the Income Tax Department for apportioning the Brought Forward Depreciation and Business Loss as per the Income Tax Act and on a conservative basis the net deferred tax assets are not recognized in the balance sheet as on 31st March, 2010 as a measure of prudence.

11. SEGMENT REPORTING

By virtue of approved Scheme of the Demerger, by the High Court of Madras the Property division of the Binny Limited got demerged and stand transferred, to and vested in this company on a going concern basis. The entire operation is from the date of Appointed Date i.e. with effect from 01-01- 2010. The Property Division of Binny Limited is the main business of this Company and this is the only reportable segment.

12. Advances include a sum of Rs.2499.20 lakhs towards property development to a company under the same management viz. M/s S V Sugar Mills Limited. Maximum amount outstanding at any time during the year of such advance is Rs.2499.20 lakhs.

13. The estimated amount of contracts remaining to be executed on account of Capital account as at 31s1 March 2010: NIL

14. The figures for current year includes the transaction relating to the business of the company after incorporating the demerger business with effect from 01-01-2010 and hence not strictly comparable with previous year.

15. Cash Flow Statement and balance Sheet Abstract are enclosed.