Notes to Accounts of Arman Holdings Ltd.

Mar 31, 2018

1. CORPORATE INFORMATION

Arman Holdings Limited (“the Company”) was incorporated in India on 25 October 1982. The Company is involved in carrying and undertaking the business of trading, exporting, importing, wholesaling, exhibiting, buying and selling and otherwise dealing in Chemicals, textiles, paper, oil, cement, plastic, automobile, Jute, tea, sugar, gold, diamonds, precious stones, ferrous and non ferrous metals, electronic and electronic goods and handicrafts and all other sorts of merchandises and to carry on in any mode, and in particulars to buy, sell and deal in goods, stores, consumable articles, chattles and effect of all kinds both wholesale and retail and loans and investments of land, shares, debentures, etc.

The Registered Office of company is as follow: 419, Rajhans Heights, Mini Bazar, Varachha Road, Surat- 395006.

The accompanying financial statements are prepared to reflect the results of the activities undertaken by the Company during the year ended 31 March 2018.

2. Other Notes to the Accounts;

- During the financial year 2017-18, there are not any transactions with any suppliers /parties who are covered under ‘The Micro Small and Medium Enterprises Development Act, 2006.’

- There were no contracts or arrangements made with related parties during the year under review.

- The Key Managerial Personnel are the Whole Time Director, CFO and Company Secretary Cum Compliance Officer, whose names are mentioned in the Corporate Governance Report.

- Additional Information as required under paragraph 5 of Part II of Schedule III to the Companies Act, 2013 to the extent either “NIL” or “Not Applicable” has not been furnished except payment to the Auditors.

Footnote:-

a. The credit period range from 15 days to 180 days.

b. No trade or other receivable are due from directors or other officers of the Company either severally or jointly with any other person. Nor any trade or other receivables are due from firms or private companies respectively in which any director is a

c. On the basis of past experience of trade receivables, there was no bad debt. All the existing customers has good market value, therefore management has decided not to maintain expected credit loss allowance.

(ii) Terms / rights attached to Equity Shares

The Company has only one class of equity shares having a par value of Rs.10/- per share. Each shareholder is entitled to one vote per share. The company declares and pays dividend in Indian Rupees. In the event of liquidation of the company, the holders of the equity shares will be entitled to receive the remaining assets of the company, after distribution of all preferential amounts. The distribution will be in proportion to the numbers of equity shares held by the shareholders. The company has not declared any dividend for the year ended 31st March 2018.

(iii) The company does not have any Holding Company.

(iv) Details of shareholders holding more than 5% of the aggregate shares in the Co. as on 31/03/2018

(v) There are NIL (PY-NIL) shares reserved for issue under option and contracts/ commitment for the sale of shares/ disinvestment.

(vi) There are NIL (PY-NIL) securities convertible into equity/ preference shares.

(vi) There are NIL (PY-NIL) calls unpaid including calls unpaid by Directors and Officers as on the Balance Sheet date.

(vii) During the period of five years immediately preceeding the reporting date:

a. No shares were issued for consideration other than cash.

b. No bonus shares were issued.

c. No shares were bought back.

3. OTHER NOTES TO FINANCIAL ASSETS

i. During the financial year 2017-18, there was no transactions with any suppliers/ parties who are covered under "The Micro Small and Medium Enterprises Development Act, 2006".

ii. The company is exposed to market risk and credit risk. The Company has a risk management policy and an appropriate risk governance framework for the company. The audit committee provides assurance to the Company''s management that the Company''s risk activities are governed by appropriate policies and procedures and that risks are identified, measured and managed in accordance with the Company''s policies and risk objectives.

a. Market Risk

Market risk is the risk due to which the fair value of future cash flows of a financial instrument will fluctuate because of changes in market prices. Market risk comprise of two types of risk: Interest rate, currency risk and other price risk, such as commodity price risk and equity price risk. Financial instruments affected by market risk include FVTPL investments, trade payables, trade receivables, etc.

The company has made long term investments in unquoted equity shares. The Company has fairly valued the investments under level 3 Valuation technique as stated in significant accounting policies.

In the opinion of the Board, all the current assets, loans and advances have a value on realisation in the ordinary course of business at least equal to the amount stated in the Balance Sheet and all the known liabilities have been provided for, unless otherwise stated elsewhere in other notes.

b. Credit Risk

Credit risk is the risk that counter party will not meet its obligations under a financial instrument or customer contract, leading to a financial loss. The company is exposed to credit risk from its operating activities (primarily trade receivables)

The company as Receivables which have a credit period range from 15 to 180 days. On the basis of past experience of trade receivables, there was no bad debt. All the existing customers has good market value, therefore management has decided not to maintain expected credit loss allowance.

4. FIRST TIME ADOPTION OF IND AS

These are the Company’s first financial statements prepared in accordance with Ind AS.

The significant accounting policies set out in note 2 have been applied in preparing the financial statements for the year ended 31st March, 2018, the comparative information presented in these financial statements for the year ended 31st March, 2017, and in the preparation of an opening Ind AS balance sheet at 1st April, 2016 (the Company’s date of transition). In preparing its opening Ind AS balance sheet, the Company has adjusted the amounts reported previously in financial statements prepared in accordance with the accounting standards notified under Companies (Accounting Standards) Rules, 2006 (as amended) and the other relevant provisions of the Act (previous GAAP or Indian GAAP).

Exemptions and exceptions availed

Set out below are the applicable Ind AS 101 optional exemptions applied in the transition from previous GAAP to Ind AS

Ind AS optional exemptions

-Deemed cost

The Company has elected to measure all of its property, plant and equipment at their previous GAAP carrying value i.e deemed cost.

The Company has elected to measure all of its investments at their previous GAAP carrying value i.e deemed cost.

An explanation of how the transition from Previous GAAP to Ind AS has affected the Company''s financial position, financial performance and cash flow.

Impact of Ind AS adoption on Company''s financial position.

The transition from previous GAAP to Ind AS has no material affect on financial position of company.

Impact of Ind AS adoption on total comprehensive income .

The transition from previous GAAP to Ind AS has not affected the total comprehensive income of the Company.

Impact of Ind AS adoption on the statement of cash flow for the year ended 31st March, 2017.

The transition from previous GAAP to Ind AS has not affected the cash flows of the Company.

5. The previous year’s figures have been regrouped / rearranged wherever necessary to make it comparable with the current year. All amounts disclosed in the financial statements are in Indian Rupees until and unless

The Notes referred to above thereon form a integral part of Financial Statements.

As per our report attached of even date.

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Mar 31, 2015

1. CORPORATE INFORMATION

Arman Holdings Limited ("the Company") was incorporated in India on 25 October 1982. The Company is set up to carry on the business of exporting, importing, wholesaling, exhibiting, buying and selling and otherwise dealing in Chemicals, textiles, paper, oil, cement, plastic, automobile, Jute, tea, sugar, ferrous and non ferrous metals, electronic and electronic goods and handicrafts and all other sorts of merchandises and to carry on in any mode, and in particulars to buy, sell and deal in goods, stores, consumable articles, chattles and effect of all kinds both wholesale and retail.

The accompanying financial statements are prepared to reflect the results of the activities undertaken by the Company during the year ended 31 March 2015.

2. Rights, preferences and restrictions attached to shares

Equity Shares: The company has one class of equity shares having a par value of Rs.10/- per share. Each shareholder is eligible for one vote per share held. In the event of liquidation, the equity shareholders are eligible to receive the remaining assets of the Company after distribution of all preferential amounts, in proportion to their shareholding.

3. Contingent Liabilities Nil Nil

4. Balances comprised in Current Assets, Loans and Advances and Current Liabilities are subject to confirmation/reconciliation and consequential adjustments. Necessary adjustments, if any, will be carried out upon receipt of such confirmations.

5. Segment information

Business Segments:

Operations of the Company do not qualify, for reporting as business segments, under the criteria set out under Accounting Standard 17 on 'Segment reporting' issued by The Institute of Chartered Accountants of India.

Geographic segment:

Operations of the Company do not qualify, for reporting as geographic segments, under the criteria set out under Accounting Standard 17 on 'Segment reporting' issued by The Institute of Chartered Accountants of India.

6. There are no material transactions with related parties during the year under audit.

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

8. Figures have been rounded off to the nearest rupee.

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Mar 31, 2014

1. a Rights, preferences and restrictions attached to shares

Equity Shares: The company has one class of equity shares having a par value of Rs.10/- per share. Each shareholder is eligible for one vote per share held. In the event of liquidation, the equity shareholders are eligible to receive the remaining assets of the Company after distribution of all preferential amounts, in proportion to their shareholding.

b Notes:

1 During the year the Authorised Capital of the company has been increased by Rs. 500 Lacs.

2

Of the above shares, company has issued and alloted the 49,61,500 shares to the promoters and non promoters entities on preferential basis.

3 Of the above shares, company issued the 49,61,500 shares at a price of Rs. 13 per share (At premium of Rs. 3 per share).

c Notes:

During the year company issued 49,61,500 shares of Rs. 10/- each at a premium of Rs. 3/- per share.

Based on the information received and available with the Company, there are no dues outstanding to Micro, Small and Medium enterprises covered under the Micro, Small and Medium Enterprises Development Act, 2006.

2. Contingent Liabilities Nil Nil

16 Balances comprised in Current Assets, Loans and Advances and Current Liabilities are subject to confirmation/reconciliation and consequential adjustments. Necessary adjustments, if any, will be carried out upon receipt of such confirmations.

3 Segment information

Business Segments:

Operations of the Company do not qualify, for reporting as business segments, under the criteria set out under Accounting Standard 17 on ''Segment reporting'' issued by The Institute of Chartered Accountants of India.

Geographic segment:

Operations of the Company do not qualify, for reporting as geographic segments, under the criteria set out under Accounting Standard 17 on ''Segment reporting'' issued by The Institute of Chartered Accountants of India.

4 There are no material transactions with related parties during the year under audit.

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

6 Figures have been rounded off to the nearest rupee.

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Mar 31, 2013

1 Contingent Liabilities Nil Nil

2 Balance comprised in Current Assets, Loans and Advances and Current Liabilities are subject to confirmation/reconciliation and consequential adjustments. Necessary adjustments, if any, will be carried out upon receipt of such confirmations.

3 Segment information

Business Segments:

Operations of the Company do not qualify, for reporting as business segments, under the criteria set out under Accounting Standard 17 on ''Segment reporting'' issued by The Institute of Chartered Accountants of India.

Geographic segment:

Operations of the Company do not qualify, for reporting as geographic segments, under the criteria set out under Accounting Standard 17 on ''Segment reporting'' issued by The Institute of Chartered Accountants of India.

4 There are no material transactions with related parties during the year under audit.

5 Previous years figures have been regrouped / reclassified wherever necessary to correspond with the current years classification / disclosure.

6 Figures have been rounded off to the nearest rupee.

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Mar 31, 2012

A. Rights, preferences and restrictions attached to shares

Equity Shares: The company has one class of equity shares having a par value of Rs. 10/- per shares. Each shareholder is eligible for one vote per share held. In the event of liquidation, the equity shareholders are eligible to receive the remaining assets of the Company after distribution of all preferential amounts in proportion to their shareholding.

1 Based on the information received and available with the Company, there are no dues outstanding Micro, Small and Medium enterprises covered under the Micro, Small and Medium Enterprises Development Act, 2006.

2 Balances comprised in Current Assets, Loans and Advances and Current Liabilities are subject to confirmation/reconciliation and consequential adjustments, Necessary adjustment if any will be carried out upon receipt of such confirmations.

3 Related Party disclosure The related parties are identified by the management of the company and relied upon by the auditors.

i) Name of the related parties and description of relationship :

4 Figures have been rounded off to the nearest rupee.

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Mar 31, 2011

1. In the opinion of Directors, the current assets, loans and advances have a value on their realization in the ordinary course of business at least equal to the amount at which they are stated in the Balance Sheet.

2. Loans & Advances includes a sum of Rs. 2.00 Lacs (Prev. Yr. 12.15) due from a co. in which a Director is interested as Director. Maximum amount due at any time during the yr. 12.15 Lacs (Prev. Yr. 16.15).

3. Figure of the previous year have been regrouped/rearranged wherever necessary to made them comparable with figures of the current year.