Notes to Accounts of Marsons Ltd.

Mar 31, 2021

In common with many business of similar size and organization, the Company''s system of control depends upon the close involvement of directors where independent confirmation of completeness of accounting records was, thereof, not available, we have accepted assurance from directors that all transactions have been reflected in the records of the Company.

The basic earnings per share is computed by dividing the net profit attributable to equity shareholders for the year by the weighted average number of equity shares outstanding during the reporting year.

Particulars	Current Year (in lakhs)	Previous Year (in lakhs)
Profit /(Loss) after Tax	(222.70)	(298.56)
No. of shares(Weighted Avg. no. of Share)	1250	1250
Earnings per share	(0.18)	(0.24)

iii) According to the information available, the Company does not owe any sum to a small scale industry as defined in clause (i) of section 3 of the Industries (Development and Regulation) Act, 1951.

iv) The Company has not received any instruction from suppliers regarding their status under

the Micro, Small & Medium Enterprises Development Act,2006 and hence, disclosures if any, relating to amounts unpaid as at the yearend together with interest payable as required under the said Act have not been given.

v) The amount of interest paid by the company during the year ended 31st March, 2021 to Micro, Small Scale Industries & Medium enterprises is Nil.

The company does not have any credit policy, invoice are due for payment on presentation. Hence, date of invoice is considered as due date for payment.

Previous Year figures are regroup/rearrange whenever necessary.

Management has the view that as per the Binding Resolution Plan approved by the Honorable NCLT Kolkata all the pending demands before the respective tax authorities will be Nil by the virtue of para 1 to 4 of page 44 of the Binding Resolution Plan dated 09.05.2019

One of the creditor filed application with Honorable NCLT Kolkata based on which Tribunal has passed an Resolution Plan on 09.05.2019. As per the resolution plan Liability with Bank loan is settled at Rs.34.00 Crore out of which payment of Rs.12.001 crore has been made till 31^st March, 2021 and employee due at Rs. 0.95 crore out of which payment of Rs 0.93 crore has been made till 31^st March, 2021. For the said purpose Yashoda Inn Private Limited and Uneecops Solar Private Limited have agreed to finance the said plan. There has been a change in the Management and Key Managerial Person during the reporting period.

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Jun 30, 2015

1. Based on the information available with the company, the principal amount due to Micro, Small & Medium Enterprises, as defined under the Micro, Small, and Medium Enterprises Development Act, 2006 (MSMED Act, 2006) is Rs, Nil (Previous year Rs, Nil). Further, no interest during the year has been paid or payable under the terms of the MSMED Act, 2006.

2. Total stores and spare parts consumed during the year are Rs, 49.07 Lacs (Previous year Rs, 13.55 Lacs).

3. ACCOUNTING OF INVESTMENTS AS-13

In accordance with Accounting Standard (AS-13) of the Institute of Chartered Accountants of India, the long term investments held by the Company are to be carried at cost. Diminution in the value of some investments if any has not been made as amount is not ascertainable in view of market value is not available. The Company however does not anticipate any decline being permanent in nature. Few shares have been sold and relevant Long Term Capital Gain have been booked accordingly.

4. As per Accounting Standard 15 'Employee Benefits' the disclosures as defined in the Accounting Standard are given below : Defined Contribution Plans

The Company has not recognized an expense of towards defined contribution plans (Previous year NIL).

Defined Benefit Plans

In respect of gratuity liability, under defined benefit plan, the company has set up a Group Gratuity Scheme by entering into a scheme of insurance with Life Insurance Corporation of India, for providing Gratuity benefits to its employee and a sum of Rs,. 2.50 Lakhs (Previous Year NIL) has been contributed during the year to Marsons Electrical Ltd., Group Gratuity Scheme with Life Insurance Corporation of India.

5. CONTINGENT LIABILITIES AND CONTINGENT ASSETS

Aggregate amount of guarantees furnished by the banks on behalf of the company to various State Electricity Board are Rs,. 1,917.62 lacs (Previous year Rs,. 2,481.00 lacs) which are secured by deposits of Fixed Deposit Receipts amounting to Rs,. 115.08 lacs (previous year Rs,. 303.61 lacs) with banks.

6. RELATED PARTY DISCLOSURES AS REQUIRED BY AS-18

"Related party disclosures" are given below: 1) Relationships:

a) Key Management Personnel and their relatives : Mr. G.C. Kotia

Mr. Akhilesh Kotia

Mrs. Charu Kotia

Mr. Harshvardhan Kotia

b) Enterprises over which the Key Management personnel and/or their relatives have significance influence :

1) Advance Powerinfra Tech Ltd.

2) Marsons Textiles Ltd.

3) M-Secure HR Services Pvt. Ltd.

4) M-Trust Capital Advisory Pvt. Ltd.

5) Marsons Infomedia Pvt. Ltd.

6) Marsons Research Institute

7. RESEARCH AND DEVELOPMENT EXPENSES

In pursuit of Research and Development endeavors the company is continuously incurring R & D expenditure both on Capital and Revenue which is shown as part of regular heads of accounts in fixed assets and in Profit and Loss account respectively. Revenue expenditure on research & development activities accounted for under their natural heads of revenue expenses accounts is Rs,. 156.91 lacs. (previous Year Rs,. 236.20 Lacs) Capital expenditure on research & development activities accounted for under their natural heads of Fixed assets accounts is Rs,. 328.00 Lacs (Previous year Rs,. 6.42 Lacs)

8. The figures for the current financial year are for nine months period.

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Mar 31, 2014

1 ACCOUNTING OF INVESTMENTS AS-13

In accordance with Accounting Standard (AS-13) of the Institute of Chartered Accountants of India, the long term investments held by the Company are to be carried at cost. Diminution in the value of some investments if any has not been made as amount is not ascertainable in view of market value is not available. The Company however does not anticipate any decline being permanent in nature.

2 As per Accounting Standard 15 ''Employee Benefits'' the disclosures as defined in the Accounting Standard are given below : Defined Contribution Plans The Company has not recognised an expense of towards defined contribution plans (Previous year NIL).

Defined Benefit Plans

In respect of gratuity liability, under defined benefit plan, the company has set up a Group Gratuity Scheme by entering into a scheme of insurance with Life Insurance Corporation of India, for providing Gratuity benefits to its employee and a sum of R. Nil (Previous Year NIL) has been contributed during the year to Marsons Electrical Ltd., Group Gratuity Scheme with Life Insurance Corporation of India. The company is yet to make funding to LIC to the extent of R.35.03 lacs.

3 CONTINGENT LIABILITIES AND CONTINGENT ASSETS

Aggregate amount of guarantees furnished by the banks on behalf of the company to various State Electricity Board are R. 2,481.00 lacs (Previous year R. 2,608.33 lacs) which are secured by deposits of Fixed Deposit Receipts amounting to R.303.61 lacs (previous year R. 336.57 lacs) with banks.

4 COMMISSION TO DIRECTOR

Directors'' Remuneration includes payment to Managing Director with commission Current Year NIL (Previous year Nil including commission).

5 RELATED PARTY DISCLOSURES AS REQUIRED BY AS-18

"Related party disclosures" are given below: 1) Relationships:

a) Key Management Personnel and their relatives : Mr. G.C. Kotia

Mr. Akhilesh Kotia

Mrs. Charu Kotia

Mr. Harshvardhan Kotia

b) Enterprises over which the Key Management personnel and/or their relatives have significance influence :

1) Advance Powerinfra Tech Ltd. (Formerly Marson''s Power & Infrastructure Dev. Ltd)

2) Marsons Properties Pvt. Ltd. (formerly Marsons Board Pvt. Ltd.)

3) Marsons Logistics Pvt. Ltd.

4) M-Secure HR Services Pvt. Ltd. (formerly Marsons Metals Pvt. Ltd.)

5) Marsons Petro Products Ltd.

6) M-Trust Capital Advisory Pvt. Ltd. (Formerly Marsons Powergen Pvt. Ltd.)

6 RESEARCH AND DEVELOPMENT EXPENSES

In pursuit of Research and Development endeavors the company is continuously incurring R & D expenditure both on Capital and Revenue which is shown as part of regular heads of accounts in fixed assets and in Profit and Loss account respectively. Revenue expenditure on research & development activities accounted for under their natural heads of revenue expenses accounts is R.236.20 lacs. (previous Year R 212.30 Lacs) Capital expenditure on research & development activities accounted for under their natural heads of Fixed assets accounts is R 6.42 Lacs (Previous year R 23.33 Lacs)

7 Break up of balance in Trade Receivables of over 6 months and others have been taken as worked out by the concurrent auditors as appointed by the bankers of the company.

8 The figures for the current financial year are for nine months period.

9 In view of the revision to the Schedule VI as per notification issued by the Central Government, the financial statements for the year ended 31st March, 2014 have been prepared as per the requirements of the revised Schedule VI to the Companies Act, 1956.

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Jun 30, 2013

1 Based on the information available with the company, the principal amount due to Micro, Small & Medium Enterprises, as defined under the Micro, Small, and Medium Enterprises Development Act, 2006 (MSMED Act, 2006) is R Nil (Previous year R Nil). Further, no interest during the year has been paid or payable under the terms of the MSMED Act, 2006.

2 Total stores and spare parts consumed during the year are R 24.61 Lacs (Previous year R 33.30 Lacs).

3 ACCOUNTING OF INVESTMENTS AS-13

In accordance with Accounting Standard (AS-13) of the Institute of Chartered Accountants of India, the long term investments held by the Company are to be carried at cost. Diminution in the value of some investments if any has not been made as amount is not ascertainable in view of market value is not available. The Company however does not anticipate any decline being permanent in nature.

4 As per Accounting Standard 15 ''Employee Benefits'' the disclosures as defined in the Accounting Standard are given below : Defined Contribution Plans

The Company has not recognised an expense of towards defined contribution plans (Previous year R 8.80 Lacs). Defined Benefit Plans

In respect of gratuity liability, under defined benefit plan, the company has set up a Group Gratuity Scheme by entering into a scheme of insurance with Life Insurance Corporation of India, for providing Gratuity benefits to its employee and a sum of R. Nil (Previous Year R. 7.50 lacs) has been contributed during the year to Marsons Electrical Ltd., Group Gratuity Scheme with Life Insurance Corporation of India. The company is yet to make funding to LIC to the extent of R.35.03 lacs.

5 CONTINGENT LIABILITIES AND CONTINGENT ASSETS

Aggregate amount of guarantees furnished by the banks on behalf of the company to various State Electricity Board are R. 2,608.33 lacs (Previous year R. 1,980.81 lacs) which are secured by deposits of Fixed Deposit Receipts amounting to R.336.57 lacs (previous year R. 290.71 lacs) with banks.

6 COMMISSION TO DIRECTOR

Directors'' Remuneration includes payment to Managing Director with commission R. 6.60 (Previous year R. 20.00 lacs).

7 RELATED PARTY DISCLOSURES AS REQUIRED BY AS-18

"Related party disclosures” are given below: 1) Relationships:

a) Key Management Personnel and their relatives : Mr. G.C. Kotia

Mr. Akhilesh Kotia Mrs. Charu Kotia

b) Enterprises over which the Key Management personnel and/or their relatives have significance influence :

1) Advance Powerinfra Tech Ltd. (Formerly Marson''s Power & Infrastructure Dev. Ltd)

2) Marsons Properties Pvt. Ltd. (formerly Marsons Board Pvt. Ltd.)

3) Marsons Logistics Pvt. Ltd.

4) M-Secure HR Services Pvt. Ltd. (formerly Marsons Metals Pvt. Ltd.)

5) Marsons Petro Products Pvt. Ltd.

6) M-Trust Capital Advisory Services Pvt. Ltd. (Formerly Marsons Powergen Pvt. Ltd.)

8 RESEARCH AND DEVELOPMENT EXPENSES

In pursuit of Research and Development endeavors the company is continuously incurring R & D expenditure both on Capital and Revenue which is shown as part of regular heads of accounts in fixed assets and in Profit and Loss account respectively. Revenue expenditure on research & development activities accounted for under their natural heads of revenue expenses accounts is R.212.30 lacs. (previous Year R 113.50 Lacs) Capital expenditure on research & development activities accounted for under their natural heads of Fixed assets accounts is R 23.33 Lacs (Previous year R 53.31 lacs)

9 Break up of balance in Trade Receivables of over 6 months and others have been taken as worked out by the concurrent auditors as appointed by the bankers of the company.

10 The figures for the current financial year are for twelve months period.

11 In view of the revision to the Schedule VI as per notification issued by the Central Government, the financial statements for the year ended 30th June, 2013 have been prepared as per the requirements of the revised Schedule VI to the Companies Act, 1956.

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Mar 31, 2011

1. Aggregate amount of guarantees furnished by the banks on behalf of the company to various State Electricity Board are 25,46,00,041 (Previous year 15,54,30,517) which are secured by deposits of Fixed Deposit Receipts amounting to 1,77,05,000 (previous year 2,02,95,845) with banks.

2. The company has during the year recognized an expense of 3,79,545 (Previous year 8,79,545) towards defined contribution plans.

3. In respect of gratuity liability, under defined benefit plan, the company has set up a Group Gratuity Scheme by entering into a scheme of insurance with Life Insurance Corporation of India, for providing Gratuity benefits to its employee and a sum of 2,50,000(Previous Year 7,50,000) has been contributed during the year to Marsons Electrical Ltd., Group Gratuity Scheme with Life Insurance Corporation of India. The company is yet to make funding to LIC to the extent of 32,14,125.

4. Loans & Advances and Sundry Creditors include dues from Companies under the same management 51,51,189 (Previous year 1,66,66,738).

5. Research and Development

In pursuit of Research and Development endeavors the company is continuously incurring R & D expenditure both on Capital and Revenue which is shown as part of regular heads of accounts in fixed assets and in Profit and Loss account respectively. The Company has started recognizing expenses incurred on R & D both on Capital and Revenue which are as below:

a) Revenue expenditure on research & development activities accounted for under their natural heads of revenue expenses accounts is 5,86,86,370.

b) Capital expenditure on research & development activities accounted for under their natural heads of fixed assets accounts is 7,83,17,267.

6. Based on information made available with the Company, there are no dues to micro and small enterprises as defined in Micro, Small and Medium Enterprises Development Act, 2006. Further no interest during the year has been paid or payable under the terms of this Act.

7. All the debtors, creditors & other receivables from/to the parties are subject to confirmation.

8. Out of sanctioned capital subsidy by Govt. of West Bengal on capital investment of 15 lacs, the company has received and accounted for of a sum of 12.50 lacs, and pending amount will be accounted on receipt.

9. Directors’ Remuneration includes payment to Managing Director with commission 40,00,000(Previous year 19,95,000). Contribution to Provident Fund & Other includes 33,680 paid for Directors.

10. In accordance with Accounting Standard (AS13) of the Institute of Chartered Accountants of India, the long term investments held by the Company are to be carried at cost. Diminution in the value of some investments if any has not been made as amount is not ascertainable in view of market value is not available. The Company however does not anticipate any decline being permanent in nature.

11. Current Account with the Directors having credit balances of 19,99,667/- as on 31st March, 2011.

12. Previous year's figures have been re-arranged and/or re-grouped, wherever necessary.

13. Additional information pursuant to the provisions of Part II of the Schedule VI of the Companies Act, 1956.

a) Licensed Capacity Not applicable

b) Installed Capacity (Transformers) 5000MVA (5000000KVA)

c) Goods Manufactured Transformers (Power & distribution)

d) Production, Stocks and Sales



14. Related Party Disclosures as required by AS-18"

"Related party disclosures" are given below

1) Relationships a) Key Management Personnel and their relatives Mr. G.C. Kotia Mr. Akhilesh Kotia Mrs. Charu Kotia

b) Enterprises over which the Key Management personnel and/or their relatives have significance influence

1) Advance Power Infra Technologies Ltd. (Formerly Marson's Power & Infrastructure Dev. Ltd)

2) Advance Power Technologies Ltd. (Formerly A.P. Electrical Pvt. Ltd.)

3) Marsons Board Pvt. Ltd.

4) Marsons Logistics Pvt. Ltd.

5) Marsons Metals Pvt. Ltd.

6) Marsons Petro Products Pvt. Ltd.

7) Marsons Powergen Pvt. Ltd.

15. As the Company's business activities primarily falls within single segment viz. Transformers, the disclosure requirement of Accounting Standard "17 segment Reporting" issued by Institute of Chartered Accountants of India is not applicable.

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Mar 31, 2010

1. Aggregate amount of guarantees furnished by the banks on behalf of the company to various State Electricity Board are Rs. 15,54,30,517 (Previous year Rs. 6,49,82,558) which are secured by deposits of Fixed Deposit Receipts amounting to Rs. 2,02,95,845 (previous year Rs. 1,48,10,960) with banks.

2. The company has during the year recognized an expense of Rs.8,79,545 (Previous year Rs. 1343795) towards defined contribution plans.

3. In respect of gratuity liability, under defined benefit plan, the company has set up a Group Gratuity Scheme by entering into a scheme of insurance with Life Insurance Corporation of India, for providing Gratuity benefits to its employee and a sum of Rs. 7,50,000 (Previous Year 7,50,000) has been contributed during the year to Marsons Electricals Ltd., Group Gratuity Scheme with Life Insurance Corporation of India. The company is yet to make funding to LIC to the extent of Rs.3054734.

4. Loans & Advances and Sundry Creditors / Sundry Debtors include Due to a Company under the same management NIL (Previous year Rs.2367605.14) & Due from a Company under the same management Rs.16666738.19 (Previous year Rs. 12261825.90).

5. Research and Development

In pursuit of R & D endeavors the company is continuously incurring R&D expenditure both on Capital and Revenue which is shown as part of regular heads of accounts in fixed assets and in Profit and Loss Account respectively.

6. Based on information made available with the Company, there are no dues to micro and small enterprises as defined in Micro, Small and Medium Enterprises Development Act, 2006. Further no interest during the year has been paid or payable under the terms of this Act.

7. All the debtors, creditors & other receivables from/to the parties are subject to confirmation.

8. Out of sanctioned capital subsidy by Govt, of West Bengal on capital investment of Rs.15 lacs, the company has received and accounted for of a sum of Rs. 12.50 lacs, and pending amount will be accounted on receipt.

9. Directors Remuneration includes payment to Managing Director with commission Rs. 19,95,000 - (Previous year Rs.1915000). Contribution to Provident Fund & Other includes Rs.18,720 paid for Directors.

10. In accordance with Accounting Standard (AS13) of the Institute of Chartered Accountants of India, the long term investments held by the Company are to be carried at cost. Diminution in the value of some investments if any has not been made as amount is not ascertainable in view of market value is not available. The Company however does not anticipate any decline being permanent in nature.

11. Current Account with the Directors having credit balances of Rs.22,88,752 as on 31st March, 2010.

12. Previous years figures have been re-arranged and/or re-grouped, wherever necessary.

13. i) Including Excise Duty scrap sale of Rs. 693672,50 (Previous year Rs. 295895)

14. Related Party Disclosures

"Related party disclosures as required by AS-18" "Related party disclosures" are given below: 1. Relationships:

a) Key Management Personnel and their relatives : Mr. G.C. Kotia

Mr. Akhilesh Kotia Mrs. Charu Kotia Mr. Nikhilesh Kotia

b) Enterprises over which the Key Management personnel and/or their relatives have significance influence : Advance Power Infra Technologies Ltd. (Formerly Marsons Power & Infrastructure Dev. Ltd) Advance Power Technologies Ltd. (Formerly A.P. Electrical Pvt. Ltd.)

15. As the Companys business activities primarily falls within single segment viz. Transformers, the disclosure requirement of Accounting Standard "17 segment Reporting" issued by Institute of Chartered Accountants of India is not applicable.