Notes to Accounts of ANS Industries Ltd.

Mar 31, 2014

1.1 Employee Benefits

Employee benefits include provident fund, superannuation fund, gratuity fund, Leave encashment, compensated absences, long service awards and post-employment medical benefits.

1.2 Earnings per share

Basic earnings per share is computed 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 year.

1.3. In the opinion of the management, current assets, if realised in the ordinary course of business, would yield a sum equal to their value stated in the Balance Sheet, Previous Year figures have been reworked, regrouped, rearranged and reclassified wherever necessary in order to conform to his year''s presentation.

1.4. No provision is made for interest payable on security of Rs. 50 Lacs received from M/s Chambal Fertilizers & Chemical Ltd.

1.5. Previous year''s figures have been regrouped/ recast/ rearranged/ reclassified wherever necessary.

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Mar 31, 2013

1 Corporate information

Ans Industries Ltd is in the business of manufacture and marketing of Frozen Foods under the brand name of "Maxx- ofresh". Ans has manufacturing facilities at Karnal (Haryana).

2 ACCOUNTING FOR TAXES ON INCOME

The deferred tax liability for the timing difference of Depreciation for the year ending on 31.03.13 worked out as Rs. 164933/- is credited to Profi t & Loss Appropriation Account & balance as on 31.03.2013 is shown as deferred tax assets in Balance Sheet.

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Mar 31, 2012

1 Corporate information

Ans Industries Ltd is in the business of manufacture and marketing of Frozen Foods under the brand name of "Maxx- of resh". Ans has manufacturing facilities at Karnal (Haryana).

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Mar 31, 2011

1. In the opinion of the management, current assets, if realised in the ordinary course of business, would yield a sum equal to their value stated in the Balance Sheet, Previous Year figures have been reworked, regrouped, rearranged and reclassified wherever necessary in order to conform to his year''s presentation.

2. During April'' 2005, the company purchased a Plant including Land & Building for processing Fruits and Vegetables at Karnal from M/s Jagdamba Foods (including) Land & Building) and after making necessary repairs and renewals, the plant was given on Lease to M/s Chambal Fertilizers & Chemicals Ltd for a consideration of Rs.120 Lacs per annum with effect from 1st Nov.'' 2005 for a period of 2 years. M/s Chambal Fertilizers & Chemicals Ltd deposited a security of Rs.150 lacs. Lease was terminated after the expiry of 2 years in November'' 2007 and a fresh lease for Land & Building and Plant & Machinery was entered into with Temptation Foods Limited for a period of ELEVEN MONTHS for a lease consideration of Rs.545454/- per MONTH for Land & Building and Rs.300000/- per MONTH for Plant & Machinery. A security amount of Rs.10100000/- bearing interest @ 8% p.a. is received from Temptation Foods Limited. The lease is further extended upto 30th June'' 2009. The company has not yet returned the security amount of Rs. 150 lacs to M/s Chambal Fertilizers & Chemicals Ltd. on the expiry of Lease. The lease has not been renewed further and the company is processing vegetables & fruits for outside clients and for own production and marketing.

3. The management of the company has started the business of contractors and during the financial year 2006-07. The company executed contracts work amounting to Rs.67911405/- only during the financial year 2010-2011.

4. The company has advanced following inter corporate loans and no provision for unrealised interest is made by the company:

a) M/s Sadhna Phosphates & Chemicals Ltd. Rs. 50 Lacs

5. No provision is made for interest payable on security of Rs. 150 Lacs received from M/s Chambal Fertilizers & Chemi- cal Ltd.

6. Previous year''s figures have been regrouped/ recast/ rearranged/ reclassified wherever necessary.

7. Additional information required under para 3 & 4 of part II of Schedule VI of the Companies Act, 1956 (As certified by the management).

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Mar 31, 2010

Current Year Previous Year (2009-10) (2008-09)

1. Estimated amount of contracts remaining to be executed on NIL NIL Capital Account and not provided for

2. Claims against the Company not acknowledged as debts NIL NIL

3. Contingent Liabilities, not provided for 805.79 Lacs 805.79 Lacs (Guarantee for the company to Financial Institution)

5. In the opinion of the management, current assets, if realised In the ordinary course of business, would yield a sum equal to their value stated in the Balance Sheet, Previous Year figures have been reworked, regrouped, rearranged and reclassified wherever necessary in order to conform to his years presentation.

6. During April 2005, the company purchased a Plant including Land & Building for processing Fruits and Vegetables at Karnal from M/s Jagdamba Foods (including) Land & Building) and after making necessary repairs and renewals, the plant was given on Lease to M/s Chambal Fertilizers & Chemicals Ltd for a consideration of Rs.120 Lacs per annum with effect from 1st Nov.,2005 for a period of 2 years. M/s Chambal Fertilizers & Chemicals Ltd deposited a security of Rs.150 lacs. Lease was terminated after the expiry of 2 years in November 2007 and a fresh lease for Land & Building and Plant & Machinery was entered into with Temptation Foods Limited for a period of eleven months for a lease consideration of Rs.545454/- per month for Land & Building and Rs.300000/- per month for Plant & Machinery. A security amount of Rs.10100000/- bearing interest @ 8% p.a. is received from Temptation Foods Limited. The lease is further extended upto 30th June, 2009. The company has not yet returned the security amount of Rs. 150 lacs to M/s Chambal Fertilizers & Chemicals Ltd. on the expiry of Lease. The lease has not been renewed further and the company is processing vegetables & fruits for outside clients.

7. The management of the company has started the business of contractors and during the financial year 2006-07 has taken a contract for Earthwork. The company executed earth work contracts amounting to Rs. 99,663,306/-only during the financial year 2009-2010.

8. The company has advanced following intercorporate loans and no provision for unrealised interest is made by the company:

a) M/s Sadhna Phosphates & Chemicals Ltd. Rs. 50 Lacs

9. No provision is made for interest payable on security of Rs. 150 Lacs received from M/s Chambal Fertilizers & Chemi- cal Ltd.

10. Previous years figures have been regrouped/ recast/ rearranged/ reclassified wherever necessary.

11. Additional information required under para 3 & 4 of part II of Schedule VI of the Companies Act, 1956 (As certified by the management).

A. Particulars of Licensed Capacity, Installed Capacity & Production.

a) Licensed Capacity 3600 MT P.A.

b) Installed Capacity 3600 MT P.A.

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Mar 31, 2009

Current Year Previous Year (2008-09) (2007-08)

1.Contingent Liabilities, not provided for

(Guarantee for the company to Financial Rs.805.79 Lacs NIL Institution)

2. In the opinion of the management, current assets, if realised in the ordinary course of business, would yield a sum equal to their value stated in the Balance Sheet, Previous Year figures have been reworked, regrouped, rearranged and reclassified wherever necessary in order to conform to this years presentation.

3. During April 2005, the company purchased a Plant including Land & Building for processing Fruits and Vegetables at Karnal from M/s. Jagdamba Foods (including) Land & Building) and after making necessary repairs and renewals, the plant was given on Lease to M/s.Chambal Fertilizers & Chemicals Ltd for a consideration of Rs.120 Lacs per annum with effect from 1st Nov. 2005 for a period of 2 years. M/s. Chambal Fertilizers & Chemicals Ltd deposited a security of Rs.150 lacs. Lease was terminated after the expiry of 2 years in November 2007 and a fresh lease for Land & Building and Plant & Machinery was entered into with Temptation Foods Limited for a period of eleven months for a lease consideration of Rs.545454/- per month for Land & Building and Rs.300000/- per month for Plant & Machinery. A security amount of Rs.10100000/- bearing interest @ 8% p.a. is received from Temptation Foods Limited. The lease is further extended upto 30th June 2009. The company has not yet returned the security amount of Rs. 150 lacs to M/s. Chambal Fertilizers & Chemicals Ltd. on the expiry of Lease.

4. The management of the company has started the business of contractors and during the financial year 2006-07 has taken a contract for Earthwork. The company executed earth work contracts amounting to Rs.7,52,82,887/- only during the financial year 2008-2009.

5. The company received an export order for the Export of Wheat weighing 6824.61. Mts. tons valued @ USD 382.10 P.M.T. amounting to USD 2607683.48 from GRAINS & INDUSTRIAL PRODUCTS TRADING PVT.LTD. A sum of USD 2500000 was received. A letter of credit for USD received from buyers in advance on 08-11-2007. To meet the export obligation the company entered into an import contract with BUNGE S.A. for the import of Wheat weighing 6824.61 mtstons@ USD 382 P.M.T. to re-export at high seas. A letter of credit was issued to the importer for a sum of USD 2607001.02. The letter of credit was issued by Allahabad Bank for a sum of USD 2607001.02. The Bank kept a deposit of Rs.1000 lacs for issuing the letter of credit. The import & export commitments were successfully carried out by the company during the year.

6. The company has advanced following intercorporate loans and no provision for unrealised interest is made by the company:

a) M/s Sadhna Phosphates & Chemicals Ltd. Rs. 50 Lacs

7. No provision is made for interest payable on security of Rs. 150 Lacs received from M/s.Chambal Fertilizers & Chemicals Ltd.

8. Previous years figures have been regrouped/ recast/ rearranged/ reclassified wherever necessary.

9. Additional information required under para 3 & 4 of part II of Schedule VI of the Companies Act, 1956 (As certified by the management).