Notes to Accounts of Acme Resources Ltd.

Mar 31, 2018

The rights preferences and restrictions attaching to equity shares and the repayment of capital is as under:

The Company has only one class of Equity Shares having a par value of Rs.10/- each. Each holder of Equity Shares is entitled to one vote per share. In the event of liquidation of the company the holders of Equity Shares will be entitled to receive remaining assets of the company after distribution of all preferential amounts. The distribution will be in proportion to the number of Equity Shares held by the Shareholders.

1 Provision for retirement benefits under the Payment of Gratuity Act and Provident Fund Act have not been made as the said act are not applicable to the company on account of the company having less than the required number of employees.

2 Contingent Liability - Rs. Nil (Previous Year Rs. Nil).

3 The company has filed legal suits against 5 customers for recovery of Loan and advances amounting to Rs. 11.45 crores (Previous year Rs. 11.45 crores). Since the loans and advances are fully secured, the company does not foresee any liability against it. The required provision on the aforesaid loans and advances has been made in the books of account as on 31st March’ 2018 as per RBI guidelines.

4 Estimated amount of contracts remaining to be executed on capital account Rs. Nil (Previous Year Rs. Nil).

5 SEGMENT REPORTING

Accounting Standard 17 on ‘Segment Reporting’ became applicable during the current year. The Company is engaged in financing by way of loans and sale of property. The Company does not have any reportable geographic segment. The Revenues profit and assets from the reportable business segment in terms of Accounting Standard 17 on ‘Segment Reporting’ as notified by the Companies (Accounting Standards) Rules 2006 are as given below:

6 DISCLOSURE AS PER ACCOUNTING STANDARDS-18 “RELATED PARTY DISCLOSURE”

As per AS-18 issued by the Institute of Chartered Accountants of India the following are related parties:

Key Managerial Personnel

Mr. Sharad Saluja Managing Director

Mr. Kuldeep Saluja Director & Relative of Mr. Sharad Saluja

Subsidiary Company

Atul Agro Pvt. Limited OJAS Suppliers Limited

Associate Company

Vardhman Business Ventures Limited

Companies/Persons in which Key Management Personnel and Relatives of Key Managerial Personnel have control:

Name of the Company:

Sterling Agro Industries Ltd.

Narayani Dealers Pvt. Ltd.

V. M. Estate Pvt. Ltd.

Kailashwati Buildcon Pvt. Ltd Vinay Packaging (India) Pvt. Ltd Kesar Builders Pvt. Ltd.

VRS Estate Pvt. Ltd.

Vinay Homes Pvt. Ltd.

VM Real Estates Pvt. Ltd.

Rajindra Hire Purchase & Leasing Co. Pvt. Ltd.

Vinay Real Estate Pvt. Ltd.

Mrs. Raman Saluja (Wife of Mr. Kuldeep Saluja) (w.e.f. 20.07.2017)

The company has entered into the following related party transactions. Such parties and transactions have been identified as per Accounting Standard 18 “Related Party Disclosures’ issued by the Institute of Chartered Accountants of India.

7 As per Section 135 of the Companies Act 2013 the Company is required to spend in every financial year at least two per cent of the average net profits of the company made during the three immediately preceding financial years on corporate social responsibility (CSR) activities. Accordingly the company was required to spend Rs 64.57 lacs (including Rs 47.01 lacs in respect of financial year 2014-15, 15-16 and 16-17) during the current financial year. The Company is in the process of undertaking projects related to CSR. The CSR committee has been examining and evaluating suitable projects for deployment of funds. During the current year, the company has contributed the following sums towards CSR initiatives.

8 Sundry debtors and Loans and Advances have value on realization in the ordinary course of business at least equal to the amount at which they are stated in the financial statement.

9 Debit and Credit Balances outstanding in the accounts of some of the parties are subject to confirmation/reconciliation.

10 Amount due to Micro Small and medium Enterprises.

There are no Micro and Small Scale Business Enterprises to whom the company owes dues which are outstanding for more than 45 days as at March 31st 2018. This information as required to be disclosed under the Micro Small and Medium Enterprises Development Act 2006 has been determined to the extent such parties have been identified on the basis of information available with the company. Therefore the prescribed disclosures for liability of interest on overdue payment have not been given.

11 Previous year figures

Figures of the previous year have been regrouped /reclassified wherever considered necessary to confirm to current year classification.

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Mar 31, 2016

* Term loans from bank carries interest @ 12.60 p.a. The loan is repayable in 180 monthly installments with interest from the date of loan. The loan is secured against hypothecation of inventory of properties of company (Rs. 7,31,36,000). Unsecured Loans are secured through Director''s relative''s properties’ (Rs. 2,89,56,000), associate company''s properties (Rs. 12,90,00,000) and third person (associated through group companies) properties (Rs. 9,00,00,000). During the year, pre-payments has been done for all term loans from bank and no outstanding balance has been exist against term loans.

1. Provision for retirement benefits have not been made under the relevant Acts, i.e. Gratuity Act, P.F. Act are not applicable to the company as company has less than the required number of employees.

2. Contingent Liability not provided for Rs. Nil (Previous Year Rs. Nil).

3. The company has filed a legal suit against one of its customers for recovery of Loan amounts of Rs. 4.30 crores. Since the loan is fully secured, the company does not foresee any liability against it and provision on the loan amount has been already made in books as per RBI guidelines.

4. Estimated amount of contracts remaining to be executed on capital account Rs. Nil (Previous Year Rs. Nil).

5. SEGMENT REPORTING

Accounting Standard 17 on ‘Segment Reporting’ became applicable during the current year. The Company is engaged in financing by way of

As per AS-18 issued by the Institute of Chartered Accountants of India, the following are related parties:

Key Managerial Personnel

Sharad Saluja Managing Director

Kuldeep Saluja Director & Relative of Mr. Sharad Saluja

Subsidiary Company

Atul Agro Pvt. Limited OJAS Suppliers Limited MPS Structures Private Limited

Associate Company

Vardhman Business Ventures Limited

Companies in which Key Management Personnel and Relatives of Key Managerial Personnel have control:

Name of the Company:

Sterling Agro Industries Ltd.

Narayani Dealers Pvt. Ltd.

V. M. Estate Pvt. Ltd.

Kailashwati Buildcon Pvt. Ltd Vinay Packaging (India) Pvt. Ltd Kesar Builders Pvt. Ltd.

VRS Estate Pvt. Ltd.

Vinay Homes Pvt. Ltd.

VM Real Estates Pvt. Ltd.

Rajindra Hire Purchase & Leasing Co. Pvt. Ltd.

The company has entered into the following related party transactions. Such parties and transactions have been identified as per Accounting Standard 18 “Related Party Disclosures'' issued by the Institute of Chartered Accountants of India.

6. As per Section 135 of the Companies Act, 2013, the Company is required to spend, in every financial year, at least two per cent of the average net profits of the Company made during the three immediately preceding financial years on corporate social responsibility (CSR) activities.

Accordingly the company was required to spend Rs 46.32 Lacs (including Rs 23.11 lacs in respect of financial year 2014-15) during the current financial year. However, the company has not made any expenditure in respect of CSR. The Company is in the process of undertaking projects related to CSR.

7. Sundry debtors and Loans and Advances have value on realization in the ordinary course of business at least equal to the amount at which they are stated in the financial statement.

8. Debit and Credit Balances outstanding in the accounts of some of the parties are subject to confirmation/reconciliation.

9. Amount due to Micro, Small and medium Enterprises.

There are no Micro and Small Scale Business Enterprises to whom the company owes dues, which are outstanding for more than 45 days as at March 31^st 2016. This information as required to be disclosed under the Micro, Small and Medium Enterprises Development Act, 2006 has been determined to the extent such parties have been identified on the basis of information available with the company. Therefore, the prescribed disclosures for liability of interest on overdue payment have not been given.

10. Previous year figures

Figures of the previous year have been regrouped /reclassified wherever considered necessary to confirm to current year classification.

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Mar 31, 2015

The rights, preferences and restrictions attaching to equity shares and the repayment of capital is as under:

The Company has only one class of Equity Shares having a par value of Rs.10/- each. Each holder of Equity Shares is entitled to one vote per share. In the event of liquidation of the company, the holders of Equity Shares will be entitled to receive remaining assets of the company, after distribution of all preferential amounts. The distribution will be in proportion to the number of Equity Shares held by the Shareholders.

* Term loans from bank carries interest @ 12.60 p.a. The loan is repayable in 180 monthly installments with interest from the date of loan. The loan is secured against hypothecation of inventory of properties of company (Rs. 7,31,36,000). Unsecured Loans are secured through Director's relative propertie's (Rs. 2,89,56,000), associate company's properties (Rs. 12,90,00,000) and third person (associated through group companies) properties (Rs. 9,00,00,000).

1. Provision for retirement benefits have not been made under the relevant Acts, i.e. Gratuity Act, P.F. Act are not applicable to the company as company has less than the required number of employees.

2. Contingent Liability not provided for Rs. Nil (Previous Year Rs. Nil).

3. The company has filed a legal suit against one of its customers for recovery of Loan amounts of Rs. 2.30 crores. Since the loan is fully secured, the company does not foresee any liability against it.

4. Estimated amount of contracts remaining to be executed on capital account Rs. Nil (Previous Year Rs. Nil).

5. SEGMENT REPORTING

Accounting Standard 17 on 'Segment Reporting' became applicable during the current year. The Company is engaged in financing by way of

6. RELATED PARTY DISCLOSURES

As per AS-18 issued by the Institute of Chartered Accountants of India, the following are related parties:

Key Managerial Personnel Sharad Saluja Managing Director Kuldeep Saluja Director & Relative of Mr. Sharad Saluja

Subsidiary Company

Atul Agro Pvt. Limited OJAS Suppliers Limited MPS Structures Private Limited

Associate Company

Vardhman Business Ventures Limited

Companies in which Key Management Personnel and Relatives of Key Managerial Personnel have control:

Name of the Company:

Sterling Agro Industries Ltd. Narayani Dealers Pvt. Ltd. V. M. Estate Pvt. Ltd. Kailashwati Buildcon Pvt. Ltd Vinay Packaging (India) Pvt. Ltd Kesar Builders Pvt. Ltd. VRS Estate Pvt. Ltd. Vinay Homes Pvt. Ltd. VM Real Estates Pvt. Ltd. Rajindra Hire Purchase & Leasing Co. Pvt. Ltd.

7. Sundry debtors and Loans and Advances have value on realization in the ordinary course of business at least equal to the amount at which they are stated in the financial statement.

8. Debit and Credit Balances outstanding in the accounts of some of the parties are subject to confirmation/reconciliation.

9. Amount due to Micro, Small and medium Enterprises.

There are no Micro and Small Scale Business Enterprises to whom the company owesdues, which are outstanding for more then 45 days as at March 31st 2015. This information as required to be disclosed under the Micro, Small and Medium Enterprises Development Act, 2006 has been determined to the extent such parties have been identified on the basis of information available with the company. Therefore, the prescribed disclosures for liability of interest on overdue payment have not been given.

10. Previous year figures

Figures of the previous year have been regrouped /reclassified wherever considered necessary to confirm to current year classification.

11. Schedule to the Balance Sheet of a Non-Banking Financial Company as required by RBI as per their Circular RBI/ 2008-09/ 116 DNBS(PD).CC. No.125/ 03.05.002/ 2008-2009, Guidelines for NBFC-ND-SI as regards capital adequacy, liquidity and disclosure norms:

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Mar 31, 2014

The rights, preferences and restrictions attaching to equity shares and the repayment of capital is as under:

The Company has only one class of Equity Shares having a par value of Rs.10/- each. Each holder of Equity Shares is entitled to one vote per share. In the event of liquidation of the company , the holders of Equity Shares will be entitled to receive remaining assets of the company, after distribution of all preferential amounts. The distribution will be in proportion to the number of Equity Shares held by the Shareholders.

Details of shares held by the shareholders holding more than 5% of the aggregate shares in the Company.

1. Provision for retirement benefits have not been made under the relevant Acts, i.e. Gratuity Act, P.F. Act are not applicable to the company as company has less than the required number of employees.

2. Contingent Liability not provided for Rs. Nil (Previous Year Rs. Nil).

3. Estimated amount of contracts remaining to be executed on capital account Rs. Nil (Previous Year Rs. Nil).

4. SEGMENT REPORTING

Accounting Standard 17 on 'Segment Reporting' became applicable during the current year. The Company is engaged in financing by

5. RELATED PARTY DISCLOSURES

As per AS-18 issued by the Institute of Chartered Accountants of India, the following are related parties:

Key Managerial Personnel Sharad Saluja Managing Director Kuldeep Saluja Director & Relative of Mr. Sharad Saluja

Subsidiary Company Atul Agro Pvt. Limited OJAS Suppliers Limited MPS Structures Private Limited

Companies in which Key Management Personnel and Relatives of Key Managerial Personnel have control:

Name of the Company: Sterling Agro Industries Ltd. Narayani Dealers Pvt. Ltd. V. M. Estate Pvt. Ltd. Kailashwati Buildcon Pvt. Ltd Vinay Packaging (India) Pvt. Ltd Kesar Builders Pvt. Ltd. Vinay Homes Pvt. Ltd. VM Real Estates Pvt. Ltd. Rajindra Hire Purchase & Leasing Co. Pvt. Ltd.

The company has entered into the following related party transactions. Such parties and transactions have been identified as per Accounting Standard 18 "Related Party Disclosures' issued by the Institute of Chartered Accountants of India.

6. Sundry debtors and Loans and Advances have a value on realization in the ordinary course of business at least equal to the amount at which they are stated in the financial statement.

7. Debit and Credit Balances outstanding in the accounts of some of the parties are subject to confirmation/reconciliation.

8. Amount due to Micro, Small and medium Enterprises.

There are no Micro and Small Scale Business Enterprises to whom the company owesdues, which are outstanding for more then 45 days as at March 31st 2014. This information as required to be disclosed under the Micro , Small and Medium Enterprises Development Act, 2006 has been determined to the extent such parties have been identified on the basis of information available with the company. Therefore, the prescribed disclosures for liability of interest on overdue payment have not been given.

9. Previous year figures

Figures of the previous year have been regrouped /reclassified wherever considered necessary to conform to current year classification.

10. Schedule to the Balance Sheet of a Non-Banking Financial Company as required by RBI as per their Circular RBI/ 2008-09/ 116 DNBS(PD).CC. No.125/ 03.05.002/ 2008-2009, Guidelines for NBFC-ND-SI as regards capital adequacy, liquidity and disclosure norms:

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Mar 31, 2013

The rights, preferences and restrictions attaching to equity shares and the repayment of capital is as under:

The Company has only one class of Equity Shares having a par value of Rs.10/- each. Each holder of Equity Shares is entitled to one vote per share. In the event of liquidation of the company, the holders of Equity Shares will be entitled to receive remaining assets of the company, after distribution of all preferential amounts. The distribution will be in proportion to the number of Equity Shares held by the Shareholders.

1. Provision for retirement benefits have not been made under the relevant Acts, i.e. Gratuity Act, P.F. Act are not applicable to the company as company has less than the required number of employees.

2. Contingent Liability not provided for Rs. Nil (Previous Year Rs. Nil).

3. Estimated amount of contracts remaining to be executed on capital account Rs. Nil (Previous Year Rs. Nil).

4. SEGMENT REPORTING

Accounting Standard 17 on 'Segment Reporting' became applicable during the current year. The Company is engaged in financing by way of loans and sale of property. The Company does not have any reportable geographic segment. The Revenues, profit and assets from the reportable business segment in terms of Accounting Standard 17 on 'Segment Reporting' as notified by the Companies (Accounting Standards) Rules, 2006 are as given below:

5. RELATED PARTY DISCLOSURES

As per AS-18 issued by the Institute of Chartered Accountants of India, the following are related parties:

Key Managerial Personnel

Sharad Saluja Managing Director Kuldeep Saluja Director & Relative of Mr. Sharad Saluja

Subsidiary Company Atul Agro Pvt. Limited OJAS Suppliers Limited

Companies in which Key Management Personnel and Relatives of Key Managerial Personnel have control:

Name of the Company: Sterling Agro Industries Ltd. Narayani Dealers Pvt. Ltd. V. M. Estate Pvt. Ltd. Kailashwati Buildcon Pvt. Ltd Vinay Packaging (India) Pvt. Ltd Kesar Builders Pvt. Ltd. VRS Estate Pvt. Ltd.

The company has entered into the following related party transactions. Such parties and transactions have been identified as per Accounting Standard 18 "Related Party Disclosures' issued by the Institute of Chartered Accountants of India.

6. Sundry debtors and Loans and Advances have value on realization in the ordinary course of business at least equal to the amount at which they are stated in the financial statement.

7. Debit and Credit Balances outstanding in the accounts of some of the parties are subject to confirmation/reconciliation.

8. Amount due to Micro, Small and medium Enterprises.

There are no Micro and Small Scale Business Enterprises to whom the company owesdues, which are outstanding for more than 45 days as at March 31st 2013. This information as required to be disclosed under the Micro, Small and Medium Enterprises Development Act, 2006 has been determined to the extent such parties have been identified on the basis of information available with the company. Therefore, the prescribed disclosures for liability of interest on overdue payment have not been given.

9. Previous year figures

Figures of the previous year have been regrouped / reclassified wherever considered necessary to confirm to current year classification.