Accounting Policies of Tatia Global Vennture Ltd. Company

Mar 31, 2024

CORPORATE INFORMATION

M/s. Tatia Global Vennture Limited, “TGVL” was originally incorporated in India under the name and style as Tatia Intimate Exports Limited in the year 1994-1995. The Company’s primary business objectives are in the textile segment as well as in the infrastructure related project and ventures. The Company is listed at Bombay Stock Exchange Limited (BSE).

BASIS OF PREPARATION OF FINANCIAL STATEMENTS

1. The financial statements have been prepared in accordance with the Indian Accounting Standards (Ind AS) (as notified under the Companies (Indian Accounting Standards) Rules, 2015) prescribed under Section 133 of the Companies Act, 2013 and other recognized accounting practices and policies to the extent applicable.

2. Use of Estimates: The preparation of the financial statements in conformity with IND-AS requiring to make estimates and assumptions considered in the reported amounts of assets and liabilities (including contingent liabilities) and the reported income and expenses during the year.

REVENUE RECOGNITION

1. Interest Income are recognized on the date which they have become due or upon receipt whichever is earlier. The Interest income is recognized on gross basis.

2. In respect of other incomes, accrual system of accounting is followed.

PROPERTY, PLANT AND EQUIPMENT, DEPRECIATION & IMPAIRMENT

1. Property plant and equipment is stated at cost (net of tax/ duty credits availed) excluding the costs of day-to-day servicing, less accumulated depreciation and accumulated impairment in value. Cost includes professional fees/ charges related to acquisition of property plant and equipment. Changes in the expected useful life are accounted for by changing the amortisation period or methodology, as appropriate, and treated as changes in accounting estimates.

2. Subsequent expenditure incurred, is capitalised only if it results in economic useful life beyond the original estimate.

3. Depreciation is provided on Property, Plant and Equipment on written down value method as per the rates specified in part C of schedule II of Companies Act, 2013.

VALUATION OF CLOSING STOCK

The Company does not hold any inventories at the year end. Hence, the valuation is dispensed with.

FINANCIAL INSTRUMENTS - INITIAL RECOGNITION Date of recognition

Financial assets and liabilities, with the exception of loans, debt securities, and borrowings are initially recognised on the trade date, i.e., the date that the Company becomes a party to the

contractual provisions of the instrument. Loans are recognised when fund transfers are initiated to the customers’ account or cheques for disbursement have been prepared by the Company (as per the terms of the agreement with the borrowers) or when the Company assumes unconditional obligations to release the disbursement amount to third party on the direction of the borrower, whichever is earlier. The Company recognises debt securities and borrowings when funds reach the Company.

Initial measurement of financial instruments

The classification of financial instruments at initial recognition depends on their contractual terms and the business model for managing the instruments. Financial instruments are initially measured at their fair value, except in the case of financial assets and financial liabilities recorded at FVTPL (Fair value through profit and loss).

Transaction costs/fees which are directly attributable to acquisition of financial assets or financial liabilities are recognised immediately in statement of profit and loss in case of instruments measured at FVTPL and or, are added to, or subtracted from, this amount for other categories.

Measurement categories of financial assets and liabilities

The Company classifies all of its financial assets and financial liabilities based on the business model for managing the assets and the asset’s contractual terms, measured at either:

• Amortised cost

• FVTPL

•FVTOCI

Equity instruments

Investment in Subsidiaries are carried at Cost in the Separate Financial Statements as permitted under Ind AS 27.The Company subsequently measures all equity investments other than investment in subsidiaries and associates, at fair value through profit or loss, unless the Company’s management has elected to classify irrevocably some of its equity investments as equity instruments at FVOCI, when such instruments meet the definition of Equity under Ind AS 32 “Financial Instruments: Presentation” and are not held for trading. Such classification is determined on an instrument-by-instrument basis. Gains and losses on these equity instruments are never recycled to profit or loss. Dividends are recognised in profit or loss as dividend income when the right of the payment has been established, except when the Company benefits from such proceeds as a recovery of part of the cost of the instrument, in which case, such gains are recorded in OCI (Other Comprehensive Income). Equity instruments at FVOCI are not subject to an impairment assessment.

FAIR VALUATION OF INVEST!		MENTS (Rs. In lakhs)
Script Name	Quantity	Particulars	2023-24	2022-23
Kreon Finnancial Services Limited	19,50,000	Opening carrying value of Investment	702.00	816.08
		Market Value at year end	753.48	702.00
[Profit / (Loss)			51.48	-114.08

Reclassification of financial assets and liabilities

The Company does not reclassify its financial assets subsequent to their initial recognition, apart from the exceptional circumstances in which the Company acquires, disposes of, or terminates a business line. Financial liabilities are never reclassified.

RETIREMENT BENEFITS

Contribution of Provident fund, Gratuity and Leave encashment benefits wherever applicable is being accounted on actual liability basis. However, there are no employees in the eligible category to avail such benefits.

FOREIGN CURRENCY TRANSACTIONS

The Company’s financial statements are presented in Indian Rupees in lakhs (INR in lakhs) which is also the Company’s functional currency.

Transactions in foreign currencies are initially recorded by the Company at their respective functional currency spot rates at the date the transaction first qualifies for recognition.

Foreign currency denominated monetary assets and liabilities are translated at the functional currency spot rates of exchange at the reporting date and exchange gains and losses arising on settlement and restatement are recognized in the statement of profit and loss.

There are no reportable Foreign Currency transactions during the year.

TAX ON INCOME Current Tax

Current tax comprises amount of tax payable in respect to the taxable income or loss for the year determined in accordance with Income Tax Act, 1961 and any adjustment to tax payable or receivable in respect of prior years. Current tax assets and liabilities for the current and prior years are measured at the amount expected to be recovered from, or paid to, the taxation authorities. The tax rates and tax laws used to compute the amount are those that are enacted, or substantively enacted, by the reporting date in the countries where the Company operates and generates taxable income. Current tax assets and liabilities are offset only if there is a legally enforceable right to set off the recognised amounts and is intended to realise the asset and settle the liability on a net basis or simultaneously. Current income tax relating to items recognised outside profit or loss is recognised outside profit or loss (either in other comprehensive income or in equity). Current tax items are recognised in correlation to the underlying transaction either in OCI or directly in equity. Management periodically evaluates positions taken in the tax returns with respect to situations in which applicable tax regulations are subject to interpretation and establishes provisions where appropriate.

Deferred Tax

Deferred tax is provided on temporary differences at the reporting date between the tax bases of assets and liabilities and their carrying amounts for financial reporting purposes. Deferred tax liabilities are recognised for all taxable temporary differences. Deferred tax assets are recognised to the extent that it is probable that taxable profit will be available against which the deductible temporary differences, and the carry forward of unused tax credits and unused tax losses can be

utilized. The carrying amount of deferred tax assets is reviewed at each reporting date and reduced to the extent that it is no longer probable that sufficient taxable profit will be available to allow all or part of the deferred tax asset to be utilized. Unrecognised deferred tax assets are re-assessed at each reporting date and are recognised to the extent that it has become probable that future taxable profits will allow the deferred tax asset to be recovered. Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the year when the asset is realised or the liability is settled, based on tax rates (and tax laws) that have been enacted or substantively enacted at the reporting date. Deferred tax relating to items recognised outside profit or loss is recognised outside profit or loss (either in other comprehensive income or in equity). Deferred tax items are recognised in correlation to the underlying transaction either in OCI or directly in equity. Deferred tax assets and deferred tax liabilities are offset if a legally enforceable right exists to set off current tax assets against current tax liabilities and the deferred taxes relate to the same taxable entity and the same taxation authority and intends to settle on net basis.

EARNINGS PER SHARE (EPS)

Basic Earnings per Share is calculated by dividing the net profit or loss for the period attributable to equity shareholders by the weighted average number of equity shares outstanding during the period. Earnings considered for earnings per share is the net profit for the period after deducting preference dividend, if any, and attributable tax thereto for the period. The weighted average number of equity shares outstanding during the period and for all periods presented is adjusted for events, such as bonus shares, other than the conversion of potential equity shares, that have changed the number of equity shares outstanding, without a corresponding change in resources. 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.

PROVISIONS AND OTHER CONTINGENT LIABILITIES AND CAPITAL CONTRACTS

When the Company can reliably measure the outflow of economic benefits in relation to a specific case and considers such outflows to be probable, the Company records a provision against the case. Where the probability of outflow is considered to be remote, or probable, but a reliable estimate cannot be made, a contingent liability is disclosed. Given the subjectivity and uncertainty of determining the probability and amount of losses, the Company takes into account a number of factors including legal advice, the stage of the matter and historical evidence from similar incidents. Significant judgment is required to conclude on these estimates.

IMPAIRMENT OF NON-FINANCIAL ASSETS

The Company assesses, at each reporting date, whether there is an indication that an asset may be impaired. If any indication exists, or when annual impairment testing for an asset is required, the Company estimates the asset’s recoverable amount. An asset’s recoverable amount is the higher of an asset’s or cash-generating unit’s (CGU) fair value less costs of disposal and its value in use. Recoverable amount is determined for an individual asset, unless the asset does not generate cash inflows that are largely independent of those from other assets or Group of assets. When the carrying amount of an asset or CGU exceeds its recoverable amount, the asset is considered impaired and is written down to its recoverable amount. In assessing value in use, the estimated

future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset. In determining fair value less costs of disposal, recent market transactions are taken into account. If no such transactions can be identified, an appropriate valuation model is used. These calculations are corroborated by valuation multiples, quoted share prices for publicly traded companies or other available fair value indicators.

The Company bases its impairment calculation on detailed budgets and forecast calculations, which are prepared separately for each of the Company’s CGUs to which the individual assets are allocated. These budgets and forecast calculations generally cover a period of five years. For longer periods, a long-term growth rate is calculated and applied to project future cash flows after the fifth year. To estimate cash flow projections beyond periods covered by the most recent budgets/forecasts, the Company extrapolates cash flow projections in the budget using a steady or declining growth rate for subsequent years, unless an increasing rate can be justified. In any case, this growth rate does not exceed the long-term average growth rate for the products, industries, or country or countries in which the entity operates, or for the market in which the asset is used.

Impairment losses of continuing operations are recognised in the statement of profit and loss. For assets excluding goodwill, an assessment is made at each reporting date to determine whether there is an indication that previously recognised impairment losses no longer exist or have decreased. If such indication exists, the Company estimates the asset’s or CGU’s recoverable amount. A previously recognised impairment loss is reversed only if there has been a change in the assumptions used to determine the asset’s recoverable amount since the last impairment loss was recognised. The reversal is limited so that the carrying amount of the asset does not exceed its recoverable amount, nor exceed the carrying amount that would have been determined, net of depreciation, had no impairment loss been recognised for the asset in prior years. Such reversal is recognised in the statement of profit or loss unless the asset is carried at a revalued amount, in which case, the reversal is treated as a revaluation increase.

SEGMENT INFORMATION

An operating segment is a component of the Company that engages in the business activities from which it may earn revenues and incur expenses, whose operating results are regularly reviewed by Company’s executive vice president and Chief Financial officer (“Chief operating decision maker”). The Company is engaged primarily in one segment, accordingly segment reporting is not applicable.

RELATED PARTY DISCLOSURES

The Company had transactions with the related parties during the year under review as under.

1. Name of the Related Party with whom transactions have taken place and nature of

(a)	Enterprises over which the Key Managerial Personnel are able to exercise significant influence	Kreon Finnancial Services Ltd
		Ashram Online.Com Limited
		Opti Products Private Limited
(b)	Promoter	Mr.S.P. Bharat Jain Tatia
		Mr. S. Pannalal Jain Tatia

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Mar 31, 2023

SIGNIFICANT ACCOUNTING POLICIES AND NOTES FORMING PART OF THE

ACCOUNTS AS AT 31^st MARCH 2023

BRIEF DESCRIPTION OF THE COMPANY AND ITS BUSINESS

M/s. Tatia Global Vennture Limited, “TGVL” was originally incorporated in India under the name

and style as Tatia Intimate Exports Limited in the year 1994-1995. The Companies primary business

objectives are in the textile segment as well as in the infrastructure related project and ventures. The

Company is listed at Bombay Stock Exchange Limited (BSE).

BASIS OF PREPARATION OF FINANCIAL STATEMENTS

1) The financial statements have been prepared in accordance with the Indian Accounting Standards (Ind AS) (as notified under the Companies (Indian Accounting Standards) Rules, 2015) prescribed under Section 133 of the Companies Act, 2013 and other recognized accounting practices and policies to the extent applicable.

2) Use of Estimates: The preparation of the financial statements in conformity with IND-AS requiring to make estimates and assumptions considered in the reported amounts of assets and liabilities (including contingent liabilities) and the reported income and expenses during the year.

REVENUE RECOGNITION

1) Interest Income are recognized on the date which they have become due or upon receipt whichever is earlier. The Interest income is recognized on gross basis.

2) In respect of other incomes, accrual system of accounting is followed.

PROPERTY, PLANT AND EQUIPMENT, DEPRECIATION & IMPAIRMENT

1) Property plant and equipment is stated at cost (net of tax/ duty credits availed) excluding the costs of day-to-day servicing, less accumulated depreciation and accumulated impairment in value. Cost includes professional fees/ charges related to acquisition of property plant and equipment. Changes in the expected useful life are accounted for by changing the amortization period or methodology, as appropriate, and treated as changes in accounting estimates.

2) Subsequent expenditure incurred, is capitalized only if it results in economic useful life beyond the original estimate.

3) Depreciation is provided on Property, Plant and Equipment on written down value method as per the rates specified in part C of schedule II of Companies Act, 2013.

VALUATION OF CLOSING STOCK

The Company does not hold any inventories at the year end. Hence the valuation is dispensed with.

FINANCIAL INSTRUMENTS - INITIAL RECOGNITION Date of recognition

Financial assets and liabilities, with the exception of loans, debt securities, and borrowings are initially recognised on the trade date, i.e., the date that the Company becomes a party to the contractual provisions of the instrument. Loans are recognised when fund transfers are initiated to the customers’ account or cheques for disbursement have been prepared by the Company (as per the terms of the agreement with the borrowers) or when the Company assumes unconditional obligations to release the disbursement amount to third party on the direction of the borrower, whichever is earlier. The Company recognises debt securities and borrowings when funds reach the Company.

Initial measurement of financial instruments

The classification of financial instruments at initial recognition depends on their contractual terms and the business model for managing the instruments. Financial instruments are initially measured at their fair value, except in the case of financial assets and financial liabilities recorded at FVTPL (Fair value through profit and loss).

Transaction costs/fees which are directly attributable to acquisition of financial assets or financial liabilities are recognised immediately in statement of profit and loss in case of instruments measured at FVTPL and or, are added to, or subtracted from, this amount for other categories.

Measurement categories of financial assets and liabilities

The Company classifies all of its financial assets and financial liabilities based on the business model for managing the assets and the asset’s contractual terms, measured at either:

• Amortized cost

• FVTPL

•FVTOCI

Equity instruments

Investment in Subsidiaries and Joint Ventures are carried at Cost in the Separate Financial Statements as permitted under Ind AS 27. The Company subsequently measures all equity investments other than investment in subsidiaries and associates, at fair value through profit or loss, unless the Company’s management has elected to classify irrevocably some of its equity investments as equity instruments at FVOCI, when such instruments meet the definition of Equity under Ind AS 32 Financial Instruments: Presentation and are not held for trading. Such classification is determined on an instrument-by-instrument basis. Gains and losses on these equity instruments are never recycled to profit or loss. Dividends are recognised in profit or loss as dividend income when the right of the payment has been established, except when the Company benefits from such proceeds as a recovery of part of the cost of the instrument, in which case, such gains are recorded in OCI (Other Comprehensive Income). Equity instruments at FVOCI are not subject to an impairment assessment.

Reclassification of financial assets and liabilities

The Company does not reclassify its financial assets subsequent to their initial recognition, apart from the exceptional circumstances in which the Company acquires, disposes of, or terminates a business line. Financial liabilities are never reclassified.

RETIREMENT BENEFITS

Contribution of Provident fund, Gratuity and Leave encashment benefits wherever applicable is being accounted on actual liability basis. However, there were no employees in the eligible category to avail such benefits.

FOREIGN CURRENCY TRANSACTIONS

The Company’s financial statements are presented in Indian Rupees (INR) in lakhs which is also the Company’s functional currency. Transactions in foreign currencies are initially recorded by the Company at their respective functional currency spot rates at the date the transaction first qualifies for recognition.

Foreign currency denominated monetary assets and liabilities are translated at the functional currency spot rates of exchange at the reporting date and exchange gains and losses arising on settlement and restatement are recognized in the statement of profit and loss. There are no reportable Foreign Currency transactions during the year.

TAX ON INCOME Current Tax

Current tax comprises amount of tax payable in respect to the taxable income or loss for the year determined in accordance with Income Tax Act,1961 and any adjustment to tax payable or receivable in respect of prior years. Current tax assets and liabilities for the current and prior years are measured at the amount expected to be recovered from, or paid to, the taxation authorities. The tax rates and tax laws used to compute the amount are those that are enacted, or substantively enacted, by the reporting date in the countries where the Company operates and generates taxable income. Current tax assets and liabilities are offset only if there is a legally enforceable right to set off the recognised amounts and is intended to realize the asset and settle the liability on a net basis or simultaneously.

89

Current income tax relating to items recognised outside profit or loss is recognised outside profit or loss (either in other comprehensive income or in equity). Current tax items are recognised in correlation to the underlying transaction either in OCI or directly in equity. Management periodically evaluates positions taken in the tax returns with respect to situations in which applicable tax regulations are subject to interpretation and establishes provisions where appropriate.

Deferred Tax

Deferred tax is provided on temporary differences at the reporting date between the tax bases of assets and liabilities and their carrying amounts for financial reporting purposes. Deferred tax liabilities are recognised for all taxable temporary differences. Deferred tax assets are recognised to the extent that it is probable that taxable profit will be available against which the deductible temporary differences, and the carry forward of unused tax credits and unused tax losses can be utilized. The carrying amount of deferred tax assets is reviewed at each reporting date and reduced to the extent that it is no longer probable that sufficient taxable profit will be available to allow all or part of the deferred tax asset to be utilized. Unrecognized deferred tax assets are re-assessed at each reporting date and are recognised to the extent that it has become probable that future taxable profits will allow the deferred tax asset to be recovered. Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the year when the asset is realized or the liability is settled, based on tax rates (and tax laws) that have been enacted or substantively enacted at the reporting date. Deferred tax relating to items recognised outside profit or loss is recognised outside profit or loss (either in other comprehensive income or in equity). Deferred tax items are recognised in correlation to the underlying transaction either in OCI or directly in equity. Deferred tax assets and deferred tax liabilities are offset if a legally enforceable right exists to set off current tax assets against current tax liabilities and the deferred taxes relate to the same taxable entity and the same taxation authority and intends to settle on net basis.

EARNINGS PER SHARE (EPS)

Basic Earnings per Share is calculated by dividing the net profit or loss for the period attributable to equity shareholders by the weighted average number of equity shares outstanding during the period. Earnings considered for earnings per share is the net profit for the period after deducting preference dividend, if any, and attributable tax thereto for the period. The weighted average number of equity shares outstanding during the period and for all periods presented is adjusted for events, such as bonus shares, other than the conversion of potential equity shares, that have changed the number of equity shares outstanding, without a corresponding change in resources. 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.

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Mar 31, 2015

BRIEF DESCRIPTION OF THE COMPANY AND ITS BUSINESS

M/s. TATIA GLOBAL VENNTURE LTD was incorporated in India, and is engaged primarily into financing activities along with investing in to long term and short term projects, securities, debts related instruments etc.

A. BASIS OF PREPARATION OF FINANCIAL STATEMENTS

1. The financial statements have been prepared under the historical cost convention in accordance with the generally accepted accounting principles and the provisions as specified under section 133 of the Companies Act, 2013 read with rule 7 of the companies (Accounts) Rules ,2014 and other relevant provisions of the Companies Act 2013 and/or Companies Act ,1956 as applicable.

2. Method of Accounting - The Company maintains its accounts under mercantile basis of accounting.

3. The Accounting Standards recommended by The Institute of Chartered Accountants of India have been followed wherever applicable to the Company.

4. Use of Estimates :- The preparation of the financial statements in conformity with Indian GAAP requires the Management to make estimates and assumptions considered in the reported amounts of assets and liabilities (including contingent liabilities) and the reported income

B. REVENUE RECOGNITION

1. Interest Income are recognized on the date which they have become due or up on receipt whichever is earlier. The Interest income is recognized on gross basis.

2. In respect of other incomes, accrual system of accounting is followed.

C FIXED ASSETS, DEPRECIATION & IMPAIRMENT

The Fixed assets are stated at cost of their acquisition less depreciation .

D. VALUATION OF CLOSING STOCK

The company does not hold any inventories during the year under review and hence the valuation is dispensed with.

E. INVESTMENTS & DEPOSITS

Investments/Deposits are classified as long-term wherever applicable and are shown and valued at cost, there are no current investments in the company.

F. RETIREMENT BENEFITS

Contribution of Provident fund, Gratuity and Leave encashment benefits wherever applicable is being accounted on actual liability basis.

G. FOREIGN CURRENCY TRANSACTION

There are no reportable Foreign Currency related transaction in the company during the year under review.

H. TAX ON INCOME

a. Tax on income for the current period is determined on the basis of Taxable Income computed in accordance with the provisions of the Income Tax Act 1961.

b. Deferred Tax on timing differences between the accounting income and taxable income for the year and quantified using the tax rates and laws enacted or substantively enacted as on the Balance Sheet date as per the Accounting Standard (AS 22) laid down by the Institute of Chartered Accountants of India (ICAI).

I. EARNINGS PER SHARE (EPS)

The earnings considered in ascertaining the Company's earnings per share is net profit after tax. The earnings per share for the year is 0.05/- (Basic & Diluted) as compared to the previous year of Rs.0.03/- (Basic & Diluted).

Earnings Per Share

The Following reflects the profit and share data used in the basic and diluted EPS Computations

31.03.2015 31.03.2014 Note Rs. Rs.

Total Operation for the year

Profit / (Loss) after tax 7,413,919 4,948,697

Less Dividends on convertibel preference shares and tax thereon - -

Net Profit/ (Loss) for calculation of basic EPS 7,413,919 4,948,697

Net Profit/ (Loss) as above 7,413,919 4,948,697

Add : Dividends on convertible preference shares & tax thereon - -

Add : Interest on bonds convertible into equity shares (net of tax) - -

Net Profit/ (Loss) for calculation of diluted EPS 7,413,919 4,948,697

Continuing Operations

Profit / (Loss) after tax 7,413,919 4,948,697

Less Dividends on convertibel preference shares and tax thereon - -

Net Profit for calculation of basic EPS 7,413,919 4,948,697

Net Profit as above 7,413,919 4,948,697

Add : Dividends on convertible preference shares & tax thereon - -

Add : Interest on bonds convertible into equity shares (net of tax) - -

Net Profit/ (Loss) for calculation of diluted EPS 7,413,919 4,948,697

Weighted averate number of equity shares in calculating basic EP 0.05 0.03

Effect of Dilution :

Convertible Preference Shares - -

Convertible Bonds - -

Stock options granted under ESOP - -

Weighted averate number of equity shares in calculating basic EPS 0.05 0.03

J. CONTINGENT LIABILITIES AND CAPITAL CONTRACTS

The company as on date have not provided for any contingent liability (Previous Year NIL) and there are no unexecuted capital contracts which are outstanding or remaining to be performed.

K. IMPAIRMENT OF ASSETS

As required by accounting standard 28 issued by the Institute of Chartered Accountants of India, provision for impairment loss of Assets is not required to be made as the estimated realizable value of such assets will be more or equal to the carrying amount of the respective assets as stated in the Balance Sheet.

L. BUSINESS SEGMENT

The Company is engaged primarily in one segment, accordingly there are no separate reportable segment as per the accounting standard 17 (Segmental Reporting) issued by Institute of Chartered Accountants of India.

M. RELATED PARTY DISCLOSURES

The Company had no transactions with the related parties during the year under review other than temporary current account transactions.

A INVESTMENT IN GROUP COMPANIES

S. Script Name No. of Shares Amount Rs. Remarks no

1 M/s. Kreon Finnancial 12381985 29250000/- Group Services Ltd Company

B LOANS BORROWED

S. Script Name Amount Rs. Interest Remarks no Amount Rs.

1 M/s. Ashram onlne.com Ltd 95,21,576/- 7,26,126/- Group Company

2 M/s.Make My innerwear 519128/- 43221/- Group India Pvt Ltd Company

C LOANS GIVEN

S. Script Name Amount Rs. Interest Remarks no Amount Rs.

1 Sarvamangal Estate& 1519129 126477 Group Company Holdings Pvt Ltd

N. PERSONNEL

During the year under review, no employee was in receipt of remuneration in excess of limits laid down under the companies act other than below:-

There are no employees employed throughout the financial year were in receipt of remuneration which in aggregate was more that Rs.6000000/- per annum Rs.500000/- per month.

O. RECEIVABLES AND PAYABLES

The receivables and payables as stated in Current Assets, Loans and Advances and Current Liabilities and in the opinion of the management have a value and realization equal to the amount at which they are stated in the Balance Sheet and provision for all known liabilities if any has been made by the company.

P. AUDITOR REMUNERATION

S. Particulars 2014 - 2015 2013 - 2014 no

1. Statutory Audit Fees Rs. 15000/- Rs. 15000/-

Q . DUES TO SME'S

Management has determined that there were no balances outstanding as at the beginning of the year and no transactions entered with micro, small and medium enterprises as defined under Micro, Small and Medium Enterprises Development Act, 2006, during the current year, based on the information available with the company as at March 31, 2015.

R. CASH AND CASH EQUIVALENTS (FOR PURPOSES OF CASH FL OW STATEMENT)

Cash comprises cash on hand and demand deposits with banks. Cash equivalents are short-term balances, (with original maturity of three months or less from the date of acquisition), highly liquid investments that are readily convertible into known amounts of cash and which are subject to insignificant risk of changes in value.

S. CASH FLOW STATEMENT

Cash flows are reported using the indirect method, whereby profit / (loss) before extraordinary items and tax is adjusted for the effects of transactions of non-cash nature and any deferrals or accruals of past or future cash receipts or payments. The cash flows from operating, investing and financing activities of the Company are segregated based on the available information.

T. GENERAL

1. The figures for the previous year have been regrouped / reclassified / rearranged where ever necessary with the conformity with the current year figures for facilitating proper comparisons.

2. The company has followed prudential norms, except otherwise stated, prescribed by Reserve Bank of India for Non-Banking Finance Companies-financial statements.

3. The figures have been rounded off to the nearest rupee.

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Mar 31, 2014

A. BASIS OF PREPARATION OF FINANCIAL STATEMENTS

1. The financial statements have been prepared to comply in all material respects with the Notified accounting standard by the companies Accounting standards Rules,2006 and the relevant provisions of the companies Act''1956.

The financial statements have been prepared under the historical cost convention on an accrual basis. The accounting polices have been consistently applied by the company and except for the changes in accounting policy discussed are fully if any, are consistent with those used in previous year.

REVENUE RECOGNITION

1. Income for sales have been reported on gross basis.

2. Inrespect of other incomes, accrual system of accounting is followed

B. USE OF ESTIMATES

The preparation of financial statement in line with the generally accepted Accounting Principles requires management to make estimates and assumptions that affect the reported amount of assets , liabilities, disclosures relating to contingent liabilities and assets as at the balance sheet date and the reported amounts of income and expenses during the year. Difference between the actual amounts and the estimates are recognized in the year in which the events become known / are materialized.

C. FIXED ASSETS, DEPRECIATION & IMPAIRMENT

1. The Fixed Assets are stated at cost of their acquisition less depreciation.

2. Depreciation is provided on fixed assets, on written down value method, as per the rates specified in Schedule XIV of the Companies Act, 1956

D. VALUATION OF CLOSING STOCK

Wherever applicable inventories have been valued at cost or net realized value whichever is less. However during the year under review the company does not hold any inventories other than held by its Subsidiaries.

E. INVESTMENTS

Investments are classified as long-term and current investments. Long-term investments are shown at cost, or written down value (in case of other than temporary diminution) and there are no Current Investments in the company.

The company has valued the investments in its subsidiaries at the cost price at which the investment were made.

The company has also made certain investments as strategic investments in to the project which are directly identifiable with specific project . As the nature of the project being falling in to main business activity of the company the same have been classified under advance during he year under review.

F. IMPAIRMENT OF ASSETS As required by AS -28 issued by the Institute of Chartered Accounts of India, provision for Impairment loss of Assets is not required to be made as the estimated realizable value of such assets will be more or equal to the carrying amount stated in the Balance Sheet.

G. RETIREMENT BENEFITS

Contribution of Provident fund ,Gratuity and leave encashment benefits wherever applicable is being accounted on actual liability basis as currently the company does not make any contributions during the period.

H. TAX ON INCOME

a. Tax on income for the current period is determined on the basis of Taxable Income computed in accordance with the provisions of the Income Tax Act 1961.

b. Deferred Tax on timing differences between the accounting income and taxable income for the year and quantified using the tax rates and laws enacted or substantively enacted as on the Balance Sheet date as per the Accounting Standard (AS 22) laid down by the Institute of Chartered Accountants of India (ICAI).

I .EARNINGS PER SHARE (EPS)

The earnings considered in ascertaining the Company''s earnings per share is net profit after tax. The earnigs per share for the year is Rs 0.03 as compared to the previous year of Rs. 0.01 The EPS reported is basic and diluted.

J. FOREIGN CURRENCY TRANSACTION

There are no reportable foreign exchange transaction during the year under review.

K. SEGMENTAL REPORT

The company has derived its income during the year primarily in the one Segment, accordingly there are no separate reportable segment as per the Accounting Standard 17 ( segmental Reporting ) issue by the Institute of Chartered Accountants of India.

L. RELATED PARTY DISCLOSURES

The Company transactions with the related parties during the year under review are as under:-

Name of the persons Nature of Transaction Amount (RS )

a. Bharat Tatia Salary 70000/-

b. Sundry Creditors (Non- Interest bearing)

Bharat Tatia current account 27784/-

M. DUES TO SME''S

Management has determined that there were no balances outstanding as at the beginning of the year and no transactions entered with micro, small and medium enterprises as defined under Micro, Small and Medium Enterprises Development Act, 2006, during the current year, based on the information available with the company as at March 31,2014

O. GENERAL

a. The figures for the previous year are not comparable with the current year to effect of scheme of arrangement in current year. The figures for previous year are given statistical purposes only and have been regrouped / reclassified / rearranged where ever necessary.

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Mar 31, 2012

A. BASIS OF PREPARATION OF FINANCIAL STATEMENTS

1. The financial statements have been prepared to comply in all material respects with the Notified accounting standard by the companies Accounting standards Rules,2006 and the relevant provisions of the companies Act'1956.

The financial statements have been prepared under the historical cost convention on an accrual basis . The accounting polices have been consistently applied by the company and except for the changes in accounting policy discussed ore fully if any, are consistent with those used in previous year.

REVENUE RECOGNITION

1. Inrespect of income from Infra project , the company has accounted income on contracted values, for the year under review there is no income being reported under infra projects.

2. Inrespect of other incomes, accrual system of accounting is followed

B. USE OF ESTIMATES

The preparation of financial statement sin with the generally Accepted Accounting Principles requires management to make estimates and assumptions that affect the reported amount of assets , liabilities, disclosures relating to contingent liabilities and assets as at the balance sheet date and the reported amounts of income and expenses during the year. Difference between the actual amounts and the estimates are recognized in the year in which the events become known / are materialized

C. FIXED ASSETS, DEPRECIATION & IMPAIRMENT

1. The Fixed Assets are stated at cost of their acquisition less depreciation.

2. Depreciation is provided on fixed assets, on written down value method, as per the rates specified in Schedule XIV of the Companies Act, 1956

D. VALUATION OF CLOSING STOCK

Wherever applicable inventories have been valued at cost or net realized value whichever is less. However during the year under review the company does not hold any inventories other than held by its Subsidiaries .

E. INVESTMENTS

Investments are classified as long-term and current investments. Long-term investments are shown at cost, or written down value (in case of other than temporary diminution) and there are no Current Investments in the company.

The company has valued the investments in its subsidiaries at the cost price at which the investment were made.

The company has also made certain investments as strategic investments in to the project which are directly identifiable with specific project . As the nature of the project being falling in to main business activity of the company the same have been classified under advance during he year under review.

F. OTHER NON - CURRENT ASSETS

Goodwill : Goodwill is amortised over a period of five years, based on management estimates. Deferred Revenue Expenses have been written off over a period of five years.

G. IMPAIRMENT OF ASSETS

As required by AS -28 issued by the Institute of Chartered Accounts of India , provision for Impairment loss of Assets is not required to be made as the estimated realizable value of such assets will be more or equal to the carrying amount stated in the Balance Sheet.

H. RETIREMENT BENEFITS

Contribution of Provident fund ,Gratuity and leave encashment benefits wherever applicable is being accounted on actual liability basis as currently the company does not make any contributions during the period.

I. TAX ON INCOME

a. Tax on income for the current period is determined on the basis of Taxable Income computed in accordance with the provisions of the Income Tax Act 1961.

b. Deferred Tax on timing differences between the accounting income and taxable income for the year and quantified using the tax rates and laws enacted or substantively enacted as on the Balance Sheet date as per the Accounting Standard (AS 22) laid down by the Institute of Chartered Accountants of India (ICAI) .

J. EARNINGS PER SHARE (EPS)

The earnings considered in ascertaining the Company's earnings per share is net profit after tax. The earnigs per share for the year is Rs -0.04 as compared to the previous year of Rs. -0.04 The EPS reported is basic and diluted.

K. FOREIGN CURRENCY TRANSACTION

All foreign currency monetary transactions are recorded at the rate prevailing on the date of transaction / realization . All exchange difference are recogonised as income or expenses as the case may be during the year.

L. SEGMENTAL REPORT

The company has derived its income during the year primarily in the one Segment , accordingly there are no separate reportable segment as per the Accounting Standard 17 ( segmental Reporting ) issue by the Institute of Chartered Accountants of India.

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Mar 31, 2010

Brief description of the Company and its Business

TATIA GLOBAL VENNTURE LIMITED was incorporated in India, and is engaged in the Business with the main objects of the company being Real Estate, Infrastructure Developers and Textile and Accessories.

A. BASIS OF PREPARATION OF FINANCIAL STATEMENTS

The financial statements have been prepared to comply in all material respects with the standards notified under the Companies (Accounting Standards) Rules,2006 and the relevant provisions of the Companies Act,1956. The financial Statements have been prepared under the historical cost convention on an accrual basis. The accounting policies have been consistently applied by the company and except for the changes in accounting policy discussed ore fully blow if any, are consistent with those used in previous year.

REVENUE RECOGNITION

1. In respect of income from infraproject, the Company has accounted income on contracted values. For the year under review there is no income being reported under infra projects.

2. In respect of other incomes, accrual system of accounting is followed.

B. USE OF ESTIMATES

The preparation of financial statement sin conformity with the Generally Accepted Accounting Principles requires management to make estimates and assumptions that affect the reported amount of assets, liabilities, disclosures relating to contingent liabilities and assets as at the balance sheet date and the reported amounts of income and expenses during the year. Difference between the actual amounts and the estimates are recognized in the year in which the events become known / are materialized.

C. FIXED ASSETS, DEPRECIATION & IMPAIRMENT

1. The Fixed Assets are stated at cost of their acquisition less depreciation.

2. Depreciation is provided on fixed assets, on written down value method, as per the rates specified in Schedule XIV of the Companies Act, 1956. Depreciation on fixed assets added / disposed off/ discarded during the year has been provided on pro-rata basis with reference to the date of addition/discarding.

D. VALUATION OF CLOSING STOCK

Wherever applicable inventories have been valued at cost or net realizable value whichever is less. however during the year under review the company does not hold any inventories other than held by its subsidiaries.

E. INVESTMENTS

Investments are classified as long-term and current investments. Long-term investments are shown at cost or written down value (in case of other than temporary diminution) and there are no Current Investments in the company.

The company has valued the investment in its subsidiaries at the cost price at which the investment were made.

The company has also made certain investments as strategic investments in to the project which are directly identifiable with specific project.As the nature of the project being falling in to main business activity of the company the same have been classified under advances during the year under review.

F. INTANGIBLE ASSETS

Goodwill : Goodwill is amortised over a period of five years, based on management estimates. Preliminary Expenses have been amortised and being written off over a period of five years.

G. IMPAIRMENT OF ASSETS

As required by AS-28 issued by the Institute of Chartered Accountants of India, provision for impairment loss of Assets is not required to be made as the estimated realizable value of such assets will be more or equal to the carrying amount stated in the Balance Sheet.

H. RETIREMENT BENEFITS

Contribution of Provident fund, Gratuity and Leave encashment benefits wherever applicable is being accounted on actual liability basis as currently the company does not fall within the purview of the respective acts and not contributions were required to be made either by company or any of its employees.

I. TAX ON INCOME

a. Tax on income for the current period is determined on the basis of Taxable Income computed in accordance with the provisions of the Income Tax Act 1961.

b. Deferred Tax on timing differences between the accounting income and taxable income for the year and quantified using the tax rates and laws enacted or substantively enacted as on the Balance Sheet date as per the Accounting Standard (AS 22) laid down by the Institute of Chartered Accountants of India (ICAI).

J.EARNINGS PER SHARE (EPS)

The earnings considered in ascertaining the Companys earnings per share is net profit after tax. The earnigs per share for the year is Rs 0.16 (basic EPS)as compared to the previous year of Rs 0.22 and Rs 0.10 (Diluted EPS) as against the previous year EPS of Rs N A

K.FOREIGN CURRENCY TRANSACTIONS

All foreign currency monetary transactions are recorded at the rate prevailing on the date of transaction/realization. All exchange differences are recogonised as income or expense as the case may be during the year.

During the year under review the company has received a sum of Rs 5.70 crores (Rupees Five Crores and Seventy Lakhs) towards 25% of upfront money on account of issue of 38,00,000 preferential warrants issued @ of Rs 60/- each (including premium of Rs 50/- each) on paid up value of Rs 10/- each to two Foreign Institutional Investors (FII). However the company has received the said sum in Indian currency from the local account of respective FIIs after conversion of foreign currency.