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Notes to Accounts of Camson Bio Technologies Ltd.

Mar 31, 2015

1. CORPORATE INFORMATION

Camson Bio Technologies Limited ('the Company') is in the field of bio technology focused on cultivation of hybrid seeds and manufacture of effective, safe and environmentally friendly natural pest management products for the agricultural markets.

2. Employee Benefits

2.1 Retirement Benefit Plans:

a) Defined contribution plans:

The Company makes Provident Fund contribution to defined contribution plans for eligible employees. Under the schemes, the Company is required to contribute a specified percentage of the payroll costs to fund the benefits. The Company recognized Rs. 4,805,606/- (P.Y. Rs. 2,083,725/-) for provident fund contributions in the Statement of profit and loss. The contributions payable to these plans by the Company are at rates specified in the rules of the respective scheme.

b) Defined benefit plans:

The Company makes provision for Employees' Gratuity Scheme for eligible employees. The scheme provides for lump sum payment to eligible employees at retirement, death while in employment or on termination of employment, an amount equivalent to 15 days salary payable for each completed year of service or part thereof in excess of six months. Eligibility occurs upon completion of five years of service.

The present value of the defined benefit obligation and current service cost were measured using the Projected Unit Credit Method, with actuarial valuations being carried out at the balance sheet date.

2.2 Employees are entitled to accumulation of leave which can be encashed at the time of retirement or termination. The leave encashment benefit scheme is a defined benefit plan and is not funded. Hence, there are no plan assets attributable to the obligation. The Leave encashment liability under defined benefit plan as on 31.3.2015 is Rs. 3,704,427 (2013: Rs. 2,629,025).

2.3 Employee Stock Options Plan

'The Company has formulated Employee Stock Option plan 2012, drafted in accordance with the SEBI (Employee Stock Option Scheme) Guidelines, 1999. The company has granted 14,99,990 stock options to their eligible employees in its board meeting held on Dt: Feb 12, 2015. to acquire equity shares of the Company which vest in a graded manner and to be exercised within a specified period. In accordance with the SEBI Guidelines; the excess of Rs. 0.50/- on the closing market price of Rs. 109.5/-, the day prior to the grant of the options under ESOS over the exercise price of Rs. 109/-is amortized on a straight-line basis over the vesting period. (Amortization amount - Rs. 32876/-)

3. Segment Information:

In accordance with AS-17 "Segment Revenue", notified by the Companies (Accounting Standards) Rules, 2006, segment revenue, segment results and other information are as under:

A. Primary Segment

(a) Business Segment:

Segment identified by the company comprises as under:

i. Seeds & Vegetables

ii. Agri Biotech Products

(b) Segment Revenue & Expenses:

Revenue and Expenses have been identified to a segment on the basis of relationship to operating activities of the segment. Revenue and Expenses which relate to enterprises as a whole and are not allocable to a segment on a reasonable basis have been disclosed as "Unallocable".

(c) Segment Assets & Liabilities:

Segment assets and segment liabilities represent assets and liabilities in respective segments. Investments, tax related assets and other assets and liabilities that cannot be allocated to a segment on reasonable basis have been disclosed as "Unallocable".

B. Secondary Segment

The entire turnover of the Company is from domestic business and there is no geographical/secondary segment to be reported.

4 Leases

4.1 The Company has taken certain assets and office premises under cancelable operating leases. The total rental expense under cancelable operating leases during the year was Rs.7,567,703/- (P.Y. Rs.11,084,154/-).

4.2 The Company has entered into an un-registered agreement for Lease/License in respect of 34 acres of land from Mr. A N Singh, Director with effect from Jan 01, 2015 and paid Rs 415,725,676.53 (P.Y. Rs. 374,725,677/-) as lease consideration under Operating Lease Plan for a term of 99 Years. The agreement is not cancellable before the lease term and not renewable upon completion of the said term. The consideration amount is amortized over the lease period (Amortization amount charged for the 3 months period during the year Rs. 1,037,797/-, P. Y. – NIL)

5 Earnings per Share (EPS)

Earnings per share is calculated in accordance with Accounting Standard 20 – "Earnings per share", notified by the Companies (Accounting Standards) Rules, 2006.

6. Discontinuing Operation

"The Management of the Company intended to demerge its seeds division to Camson Seeds Limited through Court approved Scheme of Arrangement. In this process, the Management has obtained approval of the Court to conduct Meetings and Convened Meetings of shareholders and creditors on April 23, 2015 and complied with the directions of High Court of Karnataka. The Company has filed the voting results and outcome of the meeting with Stock Exchange (BSE). The Company has filed the Petition vide no 105/2015 with Honorable. High Court of Karnataka and awaiting Approval. Affect in the accounts will be accordingly given in the ensuing financial year".

On approval of the Scheme by the Honorable High Court, shareholders of Camson Bio Technologies Limited will get one equity share of Camson Seeds Limited for every share held in Camson Bio Technologies Limited.

7 Contingent Liabilities

Corporate Guarantee issued in respect of borrowings availed by subsidiary companies Rs. 22 Crores (P.Y. NIL).

8 ADDITIONAL DISCLOSURES:

8.1 Foundation Seeds are the most important input towards production of hybrid seeds. Certain important aspect of a foundation seeds production is the isolation that has to be maintained. These isolations are to be regulated very carefully so as to avoid the cross pollination of the seeds, It is valued very high due to significant nature of the stringent steps taken for production of seeds. The Government of India has mentioned certain isolation distances for each crop & all the companies adhere to same formula. Generally foundation seeds have an expected life of 5-10 years. (Refer Note No. 2.6)

8.2 During the year, 4,774,327 lakh warrants issued in earlier years have been converted into equity shares as per terms of issue of such warrants. Out of that 1,674,327 equity shares allotted to Bio Harvest Pte. Limited (Foreign Investor) @ Rs. 198.86 per warrant and 700,000 to Ms. Reeya Singh (Daughter of Managing Director) @ Rs. 70 per warrant and remaining 2,400,000 warrant converted into equity share @ Rs. 70/- per warrant and issued to other investors

8.3 The information required to be disclosed under the Micro, Small and Medium Enterprises Development Act, 2006 has been determined to the extent such parties had been identified on the basis of information available with the Company in this regard.

8.4 Eanrings in foreign currency from export of products is Rs 6, 14,697.85/- (P.Y. Nil) Expenditure in foreign currency towards travelling expenses is Rs. 1,824,240/- (P.Y. Rs. 1,029,628/-).

8.5 Claims against company not acknowledged as debts Rs.6, 92,688/-(P.Y. Rs. 6,92,688/-).

8.6 The soft loan and interest there on to Rs 80.04 lakhs due to the NHB is written back in current year and shown under other income, in the absence of any claim from NHB.( The Honorable Court of Civil Judge (SR.DN), Doddaballapur vide their order dated 8th December 2009 closed the case filed by the National Horticulture Board (NHB) to recover the Loan of Rs. 69.00 lakhs and interest thereon from the Company).

8.7 During the year, the Company had received demand for additional Income-tax from the department for the AY 2012-13 for Rs.3,08,17,780 (including interest of Rs. 76,59,591). Company has agreed for the same and accordingly provision has been made in the books.

8.8 The Company has reclassified previous year figures to confirm to this year's classification.

8.9 The figures in brackets represent previous year's figures.


Mar 31, 2014

1. CORPORATE INFORMATION

Camson Bio Technologies Limited (''the Company'') is in the field of bio technology focused on cultivation of hybrid seeds and manufacture of effective, safe and environmentally friendly natural pest management products for the agricultural markets.

2 ADDITIONAL DISCLOSURES:

2.1 Foundation Seeds are the most important input towards production of hybrid seeds. Certain important aspect of a foundation seeds production is the isolation that has to be maintained. These isolations are to be regulated very carefully so as to avoid the cross pollination of the seeds, It is valued very high due to significant nature of the stringent steps taken for production of seeds. The Government of India has mentioned certain isolation distances for each crop & all the companies adhere to same formula. Generally foundation seeds have an expected life of 5-10 years. (Refer Note No. 2.6)

2.2 The Company has taken certain assets and office premises under cancelable operating leases. The total rental expense under cancelable operating leases during the year was Rs. 1,10,84,154/- (Rs. 1,24,75,910/-).

2.3 The Company has entered into an agreement to acquire 34 acres of land from Mr. A N Singh, Director and paid an advance of Rs 374,725,677/- (Rs. 154,375,676/-), for which the registration / transfer is under process as it has already been applied with the concerned Government Authority,

2.4 During the year, the shareholders at the Extra Ordinary General Meeting held on May 29, 2013 approved the issue of 1,674,327 warrants (Investor warrants) to Bio Harvest Pte. Limited (investor) at a consideration of INR 173.34 per warrant. The holder of the investor warrant is entitled for allotment of one equity share of face value of INR 10 for each warrant held. The investor warrants are convertible within a period not exceeding six months or nine months (as mutually agreed between the Company and the holder of the warrants) from the date of allotment of the warrants. 25% of the consideration is to be received prior to issue of warrants and balance 75% at the time of conversion. Such warrants were allotted on November 14,2013.

During the year, 2,900,000 lakh warrants issued in earlier years have been converted into equity shares as per terms of issue of such warrants. The 3,100,000 share warrants issued in earlier years and pending for conversion as at March 31,2014 are convertible at any time within a period of 18 months from the date of allotment of warrants. Each warrant is convertible into one equity share of nominal value of Rs. 10/- each. 25% of the consideration is to be received prior to issue of warrants and balance 75% at the time of conversion.

2.5 Retirement Benefit Plans:

a) Defined contribution plans:

The Company makes Provident Fund contribution to defined contribution plans for eligible employees. Under the schemes, the Company is required to contribute a specified percentage of the payroll costs to fund the benefits. The Company recognized Rs. 2,083,725/- (Rs, 1,736,734/-) for provident fund contributions in the Statement of profit and loss. The contributions payable to these plans by the Company are at rates specified in the rules of the respective scheme.

b) Defined benefit plans:

The Company makes provision for Employees'' Gratuity Scheme for eligible employees. The scheme provides for lump sum payment to eligible employees at retirement, death while in employment or on termination of employment, an amount equivalent to 15 days salary payable for each completed year of service or part thereof in excess of six months. Eligibility occurs upon completion of five years of service.

The present value of the defined benefit obligation and current service cost were measured using the Projected Unit Credit Method, with actuarial valuations being carried out at the balance sheet date.

2.6 Leave encashment provided in the books as at March 31, 2014 aggregated to Rs 2,629,025/- (PY Rs. Nil) and expense debited to the Statement of Profit and Loss for the year is Rs 2,629,025/-(PY Rs Nil).

2.7 Expenditure in foreign currency towards travelling expenses 1,029,628/- (Nil).

2.8 Intangible Assets

During the year, the company has developed a new product "Calpushti", a natural fertiliser. The techno- commercial feasibility of the product has been established and cost of development incurred of Rs. 320,617,067/- towards material and employee costs has been capitalized on completion of the development activity in March 2014.

2.9 Claims against comp any not acknowledged as debts Rs.6, 92,688/-(P.Y. 6,92,688/-).

2.10 The Honorable Court of Civil Judge (SR.DN), Doddaballapur vide their order dated 8th December 2009 closed the case filed by the National Horticulture Board (NHB) to recover the Loan of Rs. 69.00 lakhs and interest thereon from the Company since the NHB has not taken any steps to resolve the matter despite the directives from the said court. However as a matter of prudence, the loan and interest there on aggregating to Rs 80.04 lakhs due to the NHB is not written back.

2.11 During the year, Management have reviewed the carrying value of inventory of foundation seeds and recorded a provision of Rs. 35,630,025/- to write down such inventory to net realizable value. Given the significance of the amount, such write down has been disclosed as exceptional item in the Statement of Profit and Loss.

2.12 The Company has reclassified previous year figures to conform to this year''s classification.

2.13 The figures in brackets represent previous year''s figures.


Mar 31, 2013

1. CORPORATE INFORMATION

Camson Bio Technologies Limited („the Company'') is in the field of bio technology focused on cultivation of hybrid seeds and manufacture of effective, safe and environmentally friendly natural pest management products for the agricultural markets.

2.1 The Income generated from cultivation and marketing of seeds, which is in the nature of agricultural activity, is fully exempt from Income Tax u/s 10(1) of the Income Tax Act, 1961.Expenses which are common for both agricultural activities and agri - biotech products are bifurcated on an estimated basis for the purpose of computing taxable income.

2.2 The Honorable Court of Civil Judge (SR .DN), Doddaballapur vide their order dated 8th December 2009 closed the case filed by National Horticulture Board (NHB) to recover the Soft Loan of Rs. 69.00 lakhs and interest thereon from the Company since NHB has not taken any steps to resolve the issue despite the directives from the said court. However as a matter of prudence, Rs 80.04 lakhs is shown as soft loan and accrued interest thereon due to NHB is not withdrawn.

2.3 The Company has taken certain assets under cancelable operating leases. The total rental expense under cancelable operating leases during the year was Rs. 64, 80,308/- (Rs. 36, 61,705/-).

2.4 The Company has entered into an agreement to acquire 34 acre land from a director and paid an advance of Rs 154,375,676/- (19,915,000/-).

2.5 Retirement Benefit Plans:

a) Defined contribution plans:

The Company makes Provident Fund contribution to defined contribution retirement benefit plans for eligible employees. Under the schemes, the Company is required to contribute a specified percentage of the payroll costs to fund the benefits. The Company recognized Rs. 17,36,734/- (Rs. 13, 98,612/-) for provident fund contributions in the profit and loss account including contribution to the Managing Director. The contributions payable to these plans by the Company are at rates specified in the rules of the respective scheme.

b) Defined benefit plans:

The Company makes the provision to the Employees'' Gratuity Scheme for eligible employees. The scheme provides for lump sum payment to eligible employees at retirement, death while in employment or on termination of employment, an amount equivalent to 15 days salary payable for each completed year of service or part thereof in excess of six months. Eligibility occurs upon completion of five years of service.

The present value of the defined benefit obligation and current service cost were measured using the Projected Unit Credit Method, with actuarial valuations being carried out at each balance sheet date.

2.6 Expenditure in foreign currency towards travelling expenses Nil (89,962/-).

2.7 Related Party Disclosure:

1. Relationship during the year:

(a) Subsidiaries:

Camson Agri Ventures Private Limited

(b) Associates: Entities where Key Management Personnel (KMP)/relatives of Key Management Personnel (RKMP) have significant influence:

- Sanatan Herbal & Naturals Limited

- Camson Farm Produce Private Limited

- Shashtika Health Resorts & Spa Private Limited

- Camson Green Valley Products Private Limited

(c) Key Management Personnel: Dhirendra Kumar – Managing Director Veerendra Kumar Singh - Director

(d) Relatives of Key Management Personnel: A.N. Singh - Director

Alka Singh

Geetha Singh

Karan Singh Reeya Singh

2.8 Segment Information:

In accordance with AS-17 "Segment Revenue", notified by the Companies (Accounting Standards) Rules, 2006, segment revenue, segment results and other information are as under:

A. Primary Segment

(a) Business Segment:

Segment identified by the company comprises as under: i. Seeds & Vegetables ii. Agri Biotech Products

(b) Segment Revenue & Expenses:

Revenue and Expenses have been identified to a segment on the basis of relationship to operating activities of the segment. Revenue and Expenses which relate to enterprises as a whole and are not allocable to a segment on a reasonable basis have been disclosed as "Unallocable".

(c) Segment Assets & Liabilities:

Segment assets and segment liabilities represent assets and liabilities in respective segments. Investments, tax related assets and other assets and liabilities that cannot be allocated to a segment on reasonable basis have been disclosed as "Unallocable".

B. Secondary Segment

The entire turnover of the Company is from domestic business and there is no geographical/secondary segment to be reported.

2.9 Claims against company not acknowledged as debts Rs.6,92,688/-(Nil)

2.10 Balances of Trade Payables, Trade Receivables, Loans and Advances are subject to confirmation and reconciliation.

2.11 The Company has reclassified previous year figures to conform to this year''s classification.

2.12 The figures in the brackets represent previous year''s figures.


Mar 31, 2012

A. Terms / Rights Attached to Equity Shares

The Company has only One class of Equity Shares having par value of Rs. 10 per Share. Each Holder of an Equity Share is Entitled to One Vote per Share. The Company Declares and pays Dividend in Indian Rupees. The Dividend Proposed by the Board of Directors is subject to the Approval of Share Holders in the Annual General Meeting.

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 Shares held by the Equity Share Holders.

1. CORPORATE INFORMATION

Camson Bio Technologies Limited ('the Company') is in the field of bio technology focused on cultivation of hybrid seeds and manufacture of effective, safe and environmentally friendly natural pest management products for the agricultural markets.

2.1 The Income generated from cultivation and marketing of seeds, vegetables and fruits, which is in the nature of agricultural activity, is fully exempt from Income Tax u/s 10(1) of the Income Tax Act, 1961.Expenses which are common for both agricultural activities and agri - biotech products are bifurcated on an estimated basis for the purpose of computing taxable income.

2.2 The Honorable Court of Civil Judge (SR .DN), Doddaballapur vide their order dated 8th December 2009 closed the case filed by National Horticulture Board (NHB) to recover the Soft Loan of Rs. 69.00 lakhs and interest thereon from the Company since NHB has not taken any steps to resolve the issue despite the directives from the said court. However as a matter of prudence, Rs 80.04 lakhs is shown as soft loan and accrued interest thereon due to NHB is not withdrawn.

2.3 The Company has taken certain assets under cancelable operating leases. The total rental expense under cancelable operating leases during the year was Rs. 36, 61,705/- (Rs. 27, 62,994/-).

2.4 Retirement Benefit Plans:

a) Defined contribution plans:

The Company makes Provident Fund contribution to defined contribution retirement benefit plans for eligible employees. Under the schemes, the Company is required to contribute a specified percentage of the payroll costs to fund the benefits. The Company recognized Rs. 13, 98,612/- (Rs. 16,70,762/-) for provident fund contributions in the profit and loss account including contribution to the Managing Director. The contributions payable to these plans by the Company are at rates specified in the rules of the respective scheme.

b) Defined benefit plans:

The Company makes the provision to the Employees' Gratuity Scheme for eligible employees. The scheme provides for lump sum payment to eligible employees at retirement, death while in employment or on termination of employment, an amount equivalent to 15 days salary payable for each completed year of service or part thereof in excess of six months. Eligibility occurs upon completion of five years of service.

The present value of the defined benefit obligation and current service cost were measured using the Projected Unit Credit Method, with actuarial valuations being carried out at each balance sheet date.

The following table sets out the funded status of the gratuity plan and the amounts recognized in the Company's financial statements as at March 31, 2012:

2.5 The information required to be disclosed under the Micro, Small and Medium Enterprises Development Act, 2006 has been determined to the extent such parties had been identified on the basis of information available with the Company in this regard.

2.6 Related Party Disclosure:

1. Relationship during the year:

(a) Subsidiaries: None

(b) Associates: None

(c) Key Management Personnel:

Dhirendra Kumar - Managing Director Veerendra Kumar Singh - Director

(d) Relatives of Key Management Personnel:

A.N. Singh - Director

Alka Singh Geetha Singh Karan Singh

(e) Entities where Key Management Personnel (KMP)/relatives of Key Management Personnel (RKMP) have significant influence:

Sanatan Herbal & Naturals Limited

Camson Farm Produce Private Limited

Shashtika Health Resorts & Spa Private Limited

Camson Green Valley Products Private Limited

2.7 Segment Information:

In accordance with AS-17 "Segment Revenue", notified by the Companies (Accounting Standards) Rules, 2006, segment revenue, segment results and other information are as under:

A. Primary Segment

(a) Business Segment:

Segment identified by the company comprises as under:

i. Seeds & Vegetables

ii. Agri Biotech Products

(b) Segment Revenue & Expenses:

Revenue and Expenses have been identified to a segment on the basis of relationship to operating activities of the segment. Revenue and Expenses which relate to enterprises as a whole and are not allocable to a segment on a reasonable basis have been disclosed as "Unallocable".

(c) Segment Assets & Liabilities:

Segment assets and segment liabilities represent assets and liabilities in respective segments. Investments, tax related assets and other assets and liabilities that cannot be allocated to a segment on reasonable basis have been disclosed as "Unallocable".

2.8 Contingent Liabilities and commitments : Nil

2.9 Balances of Trade Payables, Trade Receivables, Loans and Advances are subject to balance confirmation and reconciliation.

2.10 Up to the year ended March 31st 2011, the Company was using pre-revised schedule VI to the Companies Act 1956, for preparation and presentation of its Financial Statements. For the year ended March 31st 2012, the revised Schedule VI notified under the Companies Act, 1956 has been applicable to the Company. The Company has reclassified previous year figures to conform to this classification. Figures in brackets relate to previous year.


Mar 31, 2011

1) The Income generated from cultivation and marketing of seeds, vegetables and fruits, which is in the nature of agricultural activity, is fully exempt from Income Tax u/s 10(1) of the Income Tax Act, 1961. Expenses which are common for both agricultural activities and agri biotech products are bifurcated on an estimated basis for the purpose of computing taxable income.

2) Share warrants application money includes Rs. 181 lakhs (Previous Year Rs. 529 lakhs) towards security premium.

3) The Honorable Court of Civil Judge (SR .DN), Doddaballapur, vide their order dated 8th December 2009 closed the case filed by National Horticulture Board (NHB) to recover the Soft Loan of Rs. 69.00 lakhs and interest thereon from the Company since NHB has not taken any steps to resolve the issue despite the directives from the said court. However, as a matter of prudence, Rs 80.04 lakhs is shown as soft loan and accrued interest thereon due to NHB is not withdrawn.

4) The Company has taken certain assets under cancelable operating leases. The total rental expense under cancelable operating leases during the year was Rs. 27,62,994/- (Rs. 21,59,566/-).

5) Retirement Benefit Plans :

a) Defined contribution plans :

The Company makes Provident Fund contribution to defined contribution retirement benefit plans for eligible employees. Under the scheme, the Company is required to contribute a specified percentage of the payroll costs to fund the benefits. The Company recognized Rs. 16,70,762/- (Rs. 9,24,215/-) for provident fund contributions in the Profit and Loss Account including contribution to the Managing Director. The contributions payable to these plans by the Company are at rates specified in the rules of the respective scheme.

b) Defined benefit plans :

The Company makes the provision to the Employees' Gratuity Scheme for eligible employees. The Scheme provides for lump sum payment to eligible employees at retirement, death while in employment or on termination of employment, an amount equivalent to 15 days salary payable for each completed year of service or part thereof in excess of six months. Eligibility occurs upon completion of five years of service.

The present value of the defined benefit obligation and current service cost were measured using the Projected Unit Credit Method, with actuarial valuations being carried out at each Balance Sheet date.

6) The information required to be disclosed under the Micro, Small and Medium Enterprises Development Act, 2006 has been determined to the extent such parties had been identified on the basis of information available with the Company in this regard.

7) Additional particulars as required under Part II of Schedule VI of the Companies Act, 1956.

The Company is engaged in the business of Production and sale of Agro Biotech products, seeds and vegetables. The particulars required to be disclosed in 3, 4B and 4C of Part II of Schedule VI to the Companies Act, 1956 are furnished to the extent applicable to the Company for the year under review.

As per the general exemption given under Section 211 of the Companies Act, 1956, vide press note no. 2/2011 dated 08.02.2011, the Company has not furnished information prescribed in para 3 (i) (a) and 3 (ii) (b) of Part II of Schedule VI to the Companies Act, 1956.

8) Related Party Disclosure :

1. Relationship during the year :

(a) Subsidiaries : None

(b) Associates : None

(c) Key Management Personnel : Dhirendra Kumar - Managing Director

(d) Relatives of Key Management Personnel: A.N. Singh

Veerendra Kumar Singh

Alka Singh

Geeta Singh

Karan Singh

(e) Entities where Key Management Personnel (KMP)/relatives of Key Management Personnel (RKMP) have significant influence :

Sanatan Herbal & Naturals Limited

Camson Farm Produce Private Limited

Shashtika Health Resorts & Spa Private Limited

Camson Green Valley Products Private Limited

9) Earnings per Share (EPS) :

Earnings per share is calculated in accordance with Accounting Standard 20 - "Earnings per share", notified by the Companies (Accounting Standards) Rules, 2006.

10) Segment Information :

In accordance with AS-17 "Segment Revenue", notified by the Companies (Accounting Standards) Rules, 2006, segment revenue, segment results and other information are as under :

A. Primary Segment

(a) Business Segment :

Segment identified by the Company comprises as under:

i. Seeds & Vegetables

ii. Agri Biotech Products

(b) Segment Revenue & Expenses :

Revenue and Expenses have been identified to a segment on the basis of relationship to operating activities of the segment. Revenue and Expenses which relate to enterprises as a whole and are not allocable to a segment on a reasonable basis have been disclosed as "Unallocable".

(c) Segment Assets & Liabilities :

Segment assets and segment liabilities represent assets and liabilities in respective segments. Investments, tax related assets and other assets and liabilities that cannot be allocated to a segment on reasonable basis have been disclosed as "Unallocable".

B. Secondary Segment

The entire turnover of the Company is from domestic business and there is no geographical/secondary segment to be reported.

11) Contingent Liabilities : Nil

12) The Company is in the process of filing revised returns under various State Sales Tax Act (VAT). Reconciliation of liability accounts relating to VAT is in progress and the effect, if any, will be accounted in the year in which it is reconciled/ revised returns filed.

13) Foundation Seeds included earlier under Fixed Assets and depreciated are now grouped under inventories based on its written down value. Issue of the same for further production is accounted as consumption . There is no impact on the revenue and reserves of the Company on account of this change.

14) Previous year figures have been regrouped / reclassified wherever necessary to conform to current year classification. Figures in brackets are in respect of previous year.

 
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