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Notes to Accounts of Diligent Industries Ltd.

Mar 31, 2014

1. Contingent Liabilities and Commitments:

Contingent Liabilities: Nil

2. Amalgamation:

* Aditya Agro Allied Oils Limited was merged with Diligent Industries Limited w.e.f 14-11- 2013(Appointed date for merger was 01-04-2012).

* Nature of business of amalgamating companies: Upon merger the operations of companies includes manufacturing, processing, trading, extracting, and dealing in all types of edible oils, cakes, oil seeds and cultivation of oil seeds.

* The amalgamation of Diligent Industries Limited with Aditya Agro Allied Oils Limited is in the nature of Purchase

* The method of accounting for amalgamation adopted is in the nature of Purchase method

* The Purchase consideration received by the share holders of Aditya Agro Allied Oils Limited is in the form of Equity Shares of Diligent Industries Limited.

* The No. of Shares issued by Diligent Industries Limited to the shareholders of Aditya Agro Allied Oils Limited is 74,36,000shares and the total amounting to 7,43,60,000 against Net assets of Rs.7,79,95,867 and the difference of Rs 36,35,867 is transferred to capital Reserve.

3. Other Disclosures:

The Previous Year figures have been regrouped and recast wherever necessary to bring them inline with current Year figures

4. General Notes to Financial Statements:

Statement of Profit and Loss Account for the year has been prepared showing separately as per Schedule VI (Revised).


Mar 31, 2011

1. All amounts in the financial statements are presented in Rupees as otherwise stated. Figures in brackets represent corresponding previous year figures in respect of Profit & Loss Account and in respect of Balance Sheet date of previous year. Figures for the previous year have been regrouped / rearranged wherever considered necessary to confirm to the figures presented in the current year.

2. Contingent Liabilities not provided for;

Particulars 2010-11 2009-10

Bank Guarantees Nil Nil

Corporate Guarantees Nil Nil

Letter of Credit Nil Nil

Demands against the company not acknowledged

as debts and not provided for in respect of which the Company has fled appeal Nil Nil

- Income Tax

- Sales Tax

Claims against the Company not acknowledged as debts Nil Nil

3. Based on the information available with the Company, there are no dues outstanding in respect of Micro, Small and Medium enterprises at the balance sheet date. No amounts were payable to such enterprises which were outstanding for more than 45 days. Further, no interest during the year has been paid or payable in respect thereof. The above disclosure has been determined to the extent such parties have been identified on the basis of information available with the Company. This has been relied upon by the auditors.

4. In the opinion of the Board, current assets, loans and advances are stated at a value which could be realized in the ordinary course of business. The provision for all known liabilities made is adequate and not in excess of the amount reasonably necessary.

5. The company's operations consist one line of activity year by year. The Company is primarily operating in India which is considered as a single geographical segment. Hence there are no reportable segments under Accounting Standard - 17, issued by Institute of Chartered Accountants of India, during the year under report. The conditions prevailing in India being uniform, no separate geographical disclosures are considered necessary.

6. There was no amount due to Small scale undertaking exceeding Rupees one lakh each outstanding more than 30 days at the close of the year. This information is based on the document/information available to the company regarding their status of the small scale undertaking.

7. There was no impairment loss on fixed assets on the basis of review carried out by the management in accordance with Accounting Standard - 28 issued by Institute of Chartered Accountants of India. Further during the review of assets of the company, those assets which were found to be having nil market value will be provided as per the adopted policy.

8. Debit and Credit balances of parties are subject to confirmation by the respective parties.

9. Additional information pursuant to Part IV of Schedule VI to the Companies Act, 1956 is annexed.

10. As per Accounting standard 18, issued by the institute of chartered accountants of india, the disclosures of transactions with the related parties as defined in the accounting standard given below


Mar 31, 2009

A. As per Accounting Standard 18, issued by the Institute of Charttered Accountants of India, the disclosures of transactions with the related parties as defined in the Acountlng Standard are given below. List of related parties with whom transactions have taken place and relationship Name of the Raited party Relation ship : NIL

Transactions during the year with related parties. Nature of transaction Amount in Rs. : NIL

b. Expenditure in Foriegn Exchange - NIL f Earnings in Foreign Exchanges - NIL

c. The company has only one reportable segment which is Trading Shares & Stock there are no reportable segments as per Accounting Standard (AS17)

d. Certain balances in respect of Sundry Debtors, Sundry Creditors and Unsecured Loans Loans&Advances are subject to confirmation by parties.

e. There was no amount due to Small Scale undertaking exceeding Rupees one lakh each outstanding for morethan 3Cdays at the close of the year. This information is based on the document/information available to the company/regarding their status of the Small Scale undertaking.

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