Notes to Accounts of Vijay Solvex Ltd.

Mar 31, 2018

1.1 The company has elected to measure its investment in Associates as per previous GAAP carrying value.

1.2 Other trade investment-quoted and unquoted have been measured at fair value through Profit and loss account and other non trade investment-quoted and unquoted have been measured through other comprehensive income.

1.3 Categorywise Non Current Investment:

1.4 According to legal opinion, the Company continues to be the owner of the shares of Saurabh Agrotech (P) Ltd, Alwar. The company has challenged the illegal transfer of shares through Company Petition in National company Law Tribunal(NCLT) (earlier Company Law Board) and matter is Sub Judice before NCLT.

1.5 Share of Raghuvar India Ltd. being not traded in any stock exchange, hence shown under unquoted category.

2.1 The above amounts of Rs 5117.82 Lacs includes amount of Rs 2841.22 Lacs due to private companies where director is director/member and amount of Rs 306.13 Lacs is due to Partnership firms where director is partner.

3.1 (*)During the financial year 2007-08, the Company, to widen its existing operations, has invested a sum of Rs. 1212.00 lacs by way of acquisition of First Charge over the fixed assets of M/s ROM Industries Ltd situated at spl - 1, RIICO Industrial Area, Hiragana, Tehsil Bassi, District Jaipur (Raj.) from IFCI, vide deed of assignment dated 31.10.2007. The Company has stepped into the shoes of IFCI and is having all rights and liability, which are having with IFCI.

4.1 The aforesaid disclosure is based upon percentages computed separately for class of shares outstanding, as at the balance sheet date. As per records of the company, including its register of shareholders/members and other declarations received from shareholders regarding beneficial interest, the above shareholding represents both legal and beneficial ownerships of shares.

4.2 Terms/rights attached to paid up equity shares

The company has only one class of equity shares having a par value of Rs 10/-. Each holder of equity shares is entitled to one vote per share. 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 equity shares held by the shareholders.

4.3 The Company has not allotted any fully paid up equity shares pursuant to contracts without payment being received in cash during the period of five years immediately preceding the balance sheet date.

5.1 Working Capital Loan of Rs 65.16 Cr. from State Bank of India, Alwar are secured by hypothecation, both present & future, of raw material, finished goods, work-in-process, packing materials, stores, bills for collection and book-debts and on the personal guarantee of Directors Shri Niranjan Lal Data, Shri Vijay Data, Shri Daya Kishan Data and their relative Smt. Nirmala Devi & Shri Saurabh Data and first charge over the fixed assets of the Company.

5.2 KCC Loan of Rs .02 Cr. taken form IDBI Bank,Alwar is secured by hypothecation of corps / livestock / machinery / equipment / stock / movable assets, charge on agriculture land admeasuring 12.79 hectares at Bhandholi and Guarantee of Shri Vijay Data.

5.3 Working Capital Loan of Rs 21.43 Cr. with Axis Bank, Alwar is secured by way of pledge of stock as per warehouse receipt.

5.4 Unsecured loan from bank of Rs 10.00 Cr. is taken from Kotak Mahindra Bank Ltd. This Loan is a short term loan and is personally guaranteed by Shri Niranjan Lal Data and Shri Vijay Data.

6.1 Disclosures as required under the Micro, Small and Medium Enterprises Development Act, 2006 Based on the information available with the Company there are no outstanding amount payable beyond the agreed period to Micro, Small and medium Enterprises as on the date to the extent such enterprises have been identified.

7.1 *The Ceramic Division (erstwhile JGPWL) received a sum of Rs.14.49 lacs during the period 1989-91, against the use of Company’s property. On account of non-execution of deed of conveyance in favour of these persons and pending legal formalities, the said amount has been treated as other current financial liabilities.

8. LEGAL MATTERS PENDING BEFORE VARIOUS COURTS AND NATIONAL COMPANY LAW TRIBUNAL (Earlier Company Law Board)

- Order dated 14.03.2012 passed by Hon’ble High Court of Judicature of Rajasthan, Bench at Jaipur inter alia in S.B. Civil Misc. Appeal No. 2218 of 2011 in respect of partition suit was set aside by the Hon’ble Supreme Court vide order dated 04.08.2014 and the matter was remitted back to Hon’ble High Court of Judicature of Rajasthan for its fresh consideration after hearing the parties. Hon’ble High Court of Judicature of Rajasthan, Bench at Jaipur, after hearing the parties, passed an order dated 06.04.2015 partially setting aside Order dated 10.02.2011 passed by the Court of Ld. ADJ, Jaipur. However, the order dated 06.04.2015 passed by Hon’ble High Court of Judicature of Rajasthan has been challenged before the Hon’ble Supreme Court of India by the original Plaintiffs. Therefore, as on date, the restraint order passed by the Ld. Trial Court against the Company for transferring or alienating its properties or creating charge over the properties of the Company stands set aside and no order staying the operation of the order dated 06.04.2015 passed by Hon’ble High Court of Judicature of Rajasthan, has been passed by the Hon’ble Supreme Court.

- The cases filed against the Company under Section 111, 397-398 of the Companies Act, 1956 are still sub-judice before the Hon’ble National Company Law Tribunal (erstwhile Company Law Board), New Delhi which are yet to be heard finally by the NCLT.

- Presently, the Company is registered owner of SCOOTER trademark/device/logo and copyright holder for the artwork of SCOOTER Wavy device which is registered with Registrar of Trade Mark and Copyright. The Company is taking appropriate legal action against all the persons who are infringing its trademark and copyright. The Company is also defending its right before the Hon’ble Courts and Tribunals, wherever the challenges against use of ‘SCOOTER’ and /or any other intellectual property rights of the Company have been made.

- The Board is hopeful of disposal of the matter in favour of the Company.

9. As per Ind AS-19 “ Employee Benefits”

The disclosure of employees benefit as defined in the Indian Accounting Standard-19 “Employee Benefits” are as follows:

9.1 Defined Contribution Plan

An amount of Rs 49.06 Lacs (2016-17 Rs 41.00 Lacs) as contribution towards defined contribution plans is recognized as expenses in statement of Profit & Loss.

9.2 Defined Benefit Plan

- The Employee Gratuity Fund is not Funded and managed by the Company. The Present value of obligation is determined based on the actuarial valuation using the projected unit method.

- The Leave Encashment liability of Rs. 135.31 lacs form part of long term provision Rs. 64.97 lacs ( P.Y. Rs. 45.05 lacs ) and short term provision Rs. 70.34 lacs (P.Y. Rs. 23.03 lacs) and is unfunded and does not require disclosures as mentioned in para 158 of Ind AS 19.

9.3Risk Factors: Valuations are performed on certain basic set of pre-determined assumptions and other regulatory framework which may vary over time. Thus the Company is exposed to various risks in providing the above gratuity benefit which are as follows:

Interest Rate risk: The plan exposes the Company to the risk of fall in interest rates. A fall in interest rates will result in an increase in the ultimate cost of providing the above benefit and will thus result in an increase in the value of the liability (as shown in financial statements).

Liquidity Risk: This is the risk that the Company is not able to meet the short-term gratuity payouts. This may arise due to non availability of enough cash / cash equivalent to meet the liabilities or holding of illiquid assets not being sold in time.

Salary Escalation Risk: The present value of the defined benefit plan is calculated with the assumption of salary increase rate of plan participants in future. Deviation in the rate of increase of salary in future for plan participants from the rate of increase in salary used to determine the present value of obligation will have a bearing on the plan’s liability.

Demographic Risk: The Company has used certain mortality and attrition assumptions in valuation of the liability .The Company is exposed to the risk of actual experience turning out to be worse compared to the assumption.

Regulatory Risk: Gratuity benefit is paid in accordance with the requirements of the Payment of Gratuity Act, 1972 (as amended from time to time) . There is a risk of change in regulations requiring higher gratuity payouts (e.g. Increase in the maximum limit on gratuity of Rs. 20, 00,000).

9.4 Sensitivity Analysis

Significant actuarial assumptions for the determination of the defined benefit obligation are discount rate, expected salary increase and mortality. The sensitivity analysis below have been determined based on reasonably possible changes of the assumptions occurring at the end of the reporting period, while holding all other assumptions constant. The results of sensitivity analysis are given below:

10. Financial Risk Management

The Companies Activities Expose It to credit risk, liquidity risk and market risk. This note explains the source of risk which the company is exposed to and how the manages the risk and its impact in the financial statement.

The board of directors provides guiding principle for overall risk management, as well as policies covering specific area i.e.. Foreign exchange risk, credit risk & Investment of Surplus liquidity.

The companies risk management is carried out by finance department, accordingly, this department identifies, evaluation and hedges financial risk

A) Credit Risk

Credit risk arises from cash and cash equivalents, financial assets measured at amortised cost and fair value through profit or loss and trade receivables

Credit Risk Management

The main source of credit risk at the reporting date is from trade receivables as these are typically unsecured. This credit risk has always been managed through credit Approvals, establishing credit limits and continuously monitoring the creditworthiness of customer to whom credit is extended in normal course of business. The company estimates the expected credit loss on the basis of past data and experience. Expected credit losses of financial assets receivable in next 12 months are estimated on the basis of historical data provided the company has reasonable and supportable data. On such an assessment the expected losses are nil or negligible.

Review of outstanding trade receivables and financial assets is carried out by management each quarter. The company do not have any doubtful debts hence, no provision for bad and doubtful debts have yet been made in accounts.

B) Liquidity risk

The principle source of liquidity of the Company are cash and cash equivalents, borrowings and the cash flow that is generated from operations. The Company believes that current cash and cash equivalents, tied up borrowing lines and cash flow that is generated from operations is sufficient to meet requirements. Accordingly, Liquidity risk is perceived to be low.

The following table shows the maturity analysis of financial liabilities of the Company based on contractually agreed undiscounted cash flows as at the Balance sheet date:

C) Price Risk

The prices of the main raw material namely Raw oil and seeds fluctuate on day to day basis, accordingly the prices of finished goods are changed to take care of fluctuations in raw material prices. The company do not foresee any risk on this account.

D) Interest rate risk

The Company’s borrowings do bear fixed rate of interest and there are no borrowings bearing variable rate of interest. Hence, there are no interest rate risks.

E) Market Risk

Foreign Currency Risk

The company uses foreign exchange forward contracts to mitigate exposure in foreign currency risk. The foreign exchange forward contracts outstanding at reporting date are as under: -

CAPITAL MANAGEMENT

(i) The company’s Capital Risk Management Policy objective is to ensure that at all times it remains a going concern and safeguard interest of shareholders and stakeholders

The Company’s total owned funds of Rs 11371.92 Lacs is considered adequate by the management to meet its business interest and any capital risk it may face in future.

(ii) Loan Covenants

Under the terms of borrowing facilities, the company is required to comply with certain financing covenants and the company has complied with those covenants through out the reporting period.

11. Related party disclosures

Related party disclosures as required by Indian Accounting Standard (Ind AS) -24 is as under:-

A. List of related parties and relationships a) List of related parties

1. Enterprises where control exists : Nil

2. Other related parties with whom the Company had transactions, etc.

i) Associates

Raghuvar (India) Ltd Dhruva Enclave Pvt Ltd Data Houseware Ltd Indo Caps Pvt. Ltd.

ii) Key Management Personnel and Relatives Niranjan Lal Data

Vijay Data Daya Kishan Data Shanker Kukreja J.P. Lodha Neelima Data

iii) Enterprises where Key Management Personnel or relatives of Key Management Personnel have significant influence.

Vijay Industries

Data Infosys Ltd

Bhagwati Agro Products Ltd.

Pyare Lal Niranjan Lal & co.

Shree Bhagwati Farms Jhankar Motels Pvt Ltd Gaurav Ceramics (P) Ltd Deepak Vegpro Pvt Ltd Data oils

Gangadeen NiranjanLal Data Charitable Trust

12. SEGMENT INFORMATION:

The business segment has been considered as the operating segment. The Company is organized into three operating segments, Edible Oils, Ceramics and Wind Power Generation. The operating segments are reported in a manner consistent with the internal reporting to the director of the company. The detail of products and services included in above segments are given below-

Edible Oil segment includes Vanaspati Ghee, Edible Oils, Oil Cake, De-oiled cake etc , Ceramics segments includes Insulators and Wind Power segment includes electricity generation from Wind Power Generators.

Geographical segments have been considered as secondary segments and bifurcated into India and Outside India.

Segment revenue, results, assets and liabilities have been accounted for on the basis of their relationship to the operating activities of the segment and amounts allocated on a reasonable basis.

3. ’None of the non-current assets (other than financial instruments, investment in subsidiaries/ associates) are located outside India.

4. ’Customers of the company individually account for 10% or more sale.

Notes*

1. The company has elected to measure its investment in Associates as per previous GAAP carrying value. In respect of investment in other equity instruments which are primarily not held for trading are being measured at fair value through Other Comprehensive Income (OCI). In respect of investment in other equity instruments which are held for trading are being measured at fair value through statement of profit and loss A/c. According as on transition date 01-04-2016. A sum of Rs. 1034.08 Lacs have been added to Non Current Investment with adjustment in retained earning for Rs. 834.53 Lacs (Net of Deferred Tax Liability of Rs. 199.55 Lacs)

2. The actuarial gains and losses, the effect of the asset ceiling, excluding amounts included in net interest on the net defined benefit liability and the return on plan assets excluding amounts included in the net interest on the net defined benefit liability are recognised in balance sheet through other comprehensive income. Thus employee benefit expenses are reduced by 5.54 Lacs and recognised in other comprehensive income gross of tax for the year ended March 31, 2017.

3. The Company availed the exemption available under Ind AS 101 to continue the carrying value for all its Property, Plant & Equipment and intangibles as recognised in the financial statements as at the date of transition to Ind AS, measured as per the IGAAP and use that as its deemed cost as at the date of transition (1st April’2016).

4. Adjustments to deferred taxes have been made for the above mentioned line items.

5. Under previous GAAP, the Company has not presented Other Comprehensive Income separately. Hence, it has reconciled previous GAAP profit to total comprehensive income as per Ind AS.

6. The transition from previous GAAP to Ind AS has not had a material impact on the statement of cash flows.

7. Previous GAAP figures have been regrouped/rearranged/reclassified wherever necessary to make them comparable in line with Ind AS.

Notes**

1. The company has elected to measure its investment in Associates as per previous GAAP carrying value. In respect of investment in other equity instruments which are primarily not held for trading are being measured at fair value through Other Comprehensive Income (OCI). In respect of investment in other equity instruments which are held for trading are being measured at fair value through statement of profit and loss A/c. According fair value gain of Rs. 29.57 Lacs of equity instrument primarily not held for trading are included under OCI and fair value gain of Rs. 111.59 Lacs of equity instrument which are held for trading have been included in other income for the year ended 31-03-2017

2. The actuarial gains and losses, the effect of the asset ceiling, excluding amounts included in net interest on the net defined benefit liability and the return on plan assets excluding amounts included in the net interest on the net defined benefit liability are recognised in balance sheet through other comprehensive income. Thus employee benefit expenses are reduced by 5.54 Lacs and recognised in other comprehensive income gross of tax for the year ended March 31, 2017.

3. The Company availed the exemption available under Ind AS 101 to continue the carrying value for all its Property, Plant & Equipment and intangibles as recognised in the financial statements as at the date of transition to Ind AS, measured as per the IGAAP and use that as its deemed cost as at the date of transition (1st April’2016).

4. Adjustments to deferred taxes has been made for the above mentioned line items.

5. Under previous GAAP, the Company has not presented Other Comprehensive Income separately. Hence, it has reconciled previous GAAP profit to total comprehensive income as per Ind AS.

6. The transition from previous GAAP to Ind AS has not had a material impact on the statement of cash flows.

7. Previous GAAP figures have been regrouped/rearranged/reclassified wherever necessary to make them comparable in line with Ind AS.

13 STANDARDS ISSUED BUT NOT YET EFFECTIVE

On 28th March, 2018, the Ministry of Corporate Affairs (MCA) has notified Ind AS 115 and certain amendments to existing Ind AS. These amendments shall be applicable to the company from 01st April, 2018.

a. Issue of Ind AS-115- Revenue from Contracts with Customers

Ind AS will supersede the current revenue recognition guidance. Ind AS provides a single model of accounting for revenue arising from contracts with customers based on identification and satisfaction of performance obligations.

b. Amendments to existing issued Ind AS

The MCA has also issued amendments of following accounting standards:

Ind AS 21 - The effects of changes in foreign exchange rates Ind AS 40 - Investment properties Ind AS 12 - Income Tax

Ind AS 28 - Investment in Associates and joint ventures Ind AS 112 -Disclosure of Interest in Other Entities

Applications of above standards are not expected to have any significant impact on the company’s financial statements.

14 Previous year figures have been re-grouped and re-arranged wherever necessary to confirm to current year classification.

---

Mar 31, 2015

1.1 Of the above 15500 (P.Y. 15500) Equity shares were allotted as fully paid up pursuant to contracts without payments being received in cash.

1.2 Of the above 1456126 (P.Y. 1456126) Equity shares issued as fully paid up Bonus shares by way of capitalisation of free reserves.

1.3 Of the above 19962 (P.Y. 19962) Equity shares were allotted as fully paid up pursuant to the scheme of arrangement for amalgamation of the Jaipur Glass & Potteries Ltd with the Company.

1.4 Of the above 56205 (P.Y. 56205) Equity shares were allotted as fully paid up pursuant to the scheme of arrangement for amalgamation of Goenka Products Pvt. Ltd with the Company.

1.5 Shareholder holding more than 5% of the Ordinary Shares in the company.

2.1 Working Capital Loan of Rs.37.81 Crores from State Bank of Bikaner & Jaipur, Alwar are secured by hypothecation, both present & future, of raw material, finished goods, work-in-process, packing ma- terials, stores, bills for collection and book-debts and on the personal guarantee of Directors Shri Niranjan Lal Data, Shri Vijay Data, Shri Daya Kishan Data and their relative Smt. Nirmala Devi & Shri Saurabh Data and first charge over the fixed assets of the Company.

2.2 Working Capital Loan of Rs.20.86 Crores from IDBI are secured by first pari passu charge by way of equitable mortgage of land & building of company's Jaipur Unit and personal guarantee of Directors Shri Vijay Data and Shri Daya Kishan Data.

2.3 Working Capital Loan Rs.0.92 Crores from State Bank of Bikaner & Jaipur, Alwar is Secured by way of pledge of FDR's.

3.1 Disclosures as required under the Micro, Small and Medium Enterprises Development Act, 2006 based on the information available with the Company are given below.

There are no outstanding amount payable beyond the agreed period to Micro, Small and Medium Enterprises as on the Balance Sheet to the extent such enterprises have been identified, based on the information available with the company.

3.2 The Ceramic Division (erstwhile JGPWL) received a sum of Rs.14.49 lacs during the period 1989- 91, against the use of Company's property. On account of non-execution of deed of conveyance in favour of these persons and pending legal formalities, the said amount have been treated as other creditors.

4.1 Land, Building and Plant & Machinery of Sriganganagar Co-operative Cotton Complex Ltd, Sriganganagar (Ginning & Spinning Mill) have been shown under Capital W.I.P.

4.2 The Company has adopted useful lives of the Fixed Assets as those specified in part C of Schedule II to the Companies Act, 2013 ("the Act") effective from 1st April, 2014. Accordingly carrying amount of assets, for which the useful lives as per the revised estimates are exhausted as of 1st April, 2014 have been recognised in the retained earning as on that date. For the other assets, the carrying amount as of 1st April 2014 will be amortised over the remaining useful lives of the assets. As a result.

a) An amount of Rs.31.74 Lacs has been recognised to the opening retained earning as of 1st April, 2014.

b) Depriciation charges for the year ended 31st March, 2015, is lower by 25.31 Lacs.

5.1 Shares of Raghuvar (India) Ltd being not traded during the financial year hence market value could not be ascertained.

5.2 According to legal opinion, the Company continues to be the owner of the shares of Saurabh Agrotech (P) Ltd, Alwar. The company has challenged the illegal transfer of shares through Company Petition in Company Law Board and matter is Sub Judice before Company Law Board.

5.3 The Closing Stock have been taken, valued and certified by the Management.

6.1 During the financial year 2007-08, the Company, to widen its existing operations, has invested a sum of Rs.1212.00 lacs by way of acquisition of First Charge over the fixed assets of M/s ROM Industries Ltd situated at Spl—1, RlICO Industrial Area, Hiragana, Tehsil Bassi, District Jaipur (Raj.) from IFCI, vide deed of assignment dated 31.10.2007. The Company has stepped into the shoes of IFCI and is having all rights and liability, which are having with IFCI.

7 : CONTINGENT LIABILITIES NOT PROVIDED FOR IN THE ACCOUNT

31.03.2015 31.03.2014

Guarantee and Counter 47.31 2.10

Excise/Sales Tax/Income Tax/PF/ESI/ Customs/

Service Tax demands made by the authorities in 661.82 571.33 respect of which appeal has been filed.

Claims against the Company not acknowledged as debts estimated at :

In respect of Third parties 746.64 720.84

8 : LEGAL MATTERS PENDING BEFORE VARIOUS COURTS AND COMPANY LAW BOARD

Since order dated 14.03.2012 passed by Hon'ble High Court of Judicature of Rajasthan, Bench at Jaipur in S.B. Civil Misc. Appeal No.2218 of 2011 etc. w.r.t. partition suit has been set aside by the Hon'ble Supreme Court Vide order dated 04.08.2014 and remitted back the matter to Rajasthan High Court for its fresh consideration after hereaing the parties. Hon'ble High Court of Judicature of Rajasthan, Bench at Jaipur after hearing the parties passed an order dated 06.04.2015 and allowed the above mentioned Civil Misc. Appeal and other connected appeal while partially setting aside Order dated 10.02.2011 passed by the Court of Ld.ADJ, Jaipur. However, the order dated 06.04.2015 has been challenged before the Hon'ble Supreme Court of India by the original Plaintiffs. The next date before Hon'ble Supreme Court is 18.09.2015. Thus as on date the restraint order passed by the Ld. Trial Court against the Company for transferring or alienating the properties or creating charge over the properties of the Company stood set aside.

Since the legal matter under Section 111, 397-398 of the Companies Act, 1956 are still sub-judice before the Hon'ble Company Law Board, New Delhi which are yet to be heared finally by CLB.

Presently the Company is registered owner of SCOOTER trademark/device/logo and copy right in the artwork of SCOOTER Wavy device is registered with Registrar of Trade Mark and Copyright. The Company is taking appropriate legal action against all the persons who infringing its trademark and copyright and company is defending its right before the Hon'ble Courts, wherever the challenges have been made.

9 : Previous year's figures have been regrouped/recasted/rearranged wherever necessary to conform to this year's presentation.

10 : Various debit and credit balances appearing in the various heads remain unconfirmed by the respective parties. Necessary adjustment, if any, will be made in the books of accout as and when the statement of accounts/balance confirmation are received from the parties.

11 : DISCLOSURE PURSUANT TO ACCOUNTING STANDARD 15 "Employee Benefits"

a) An amount of Rs.26.60 Lacs (2013-14 Rs.23.53 Lacs) as contribution towards defined contribution plans is recognized as expenses in statement of Profit & Loss.

12 : SEGMENT INFORMATION:

The business segment has been considered as the primary segment. The Company is organized into three business segments, Edible Oils, Ceramics and Wind Power Generation. The detail of products and services included in above segments are given below-

Edible Oil segment includes Vanaspati Ghee, Edible Oils, Oil Cake, De-oiled cake etc , Ceramics segments includes Crockery and Insulators and Wind Power segment includes electricity generation from Wind Power Generators.

Geographical segments have been considered as secondary segments and bifurcated into India and Outside India.

Segment revenue, results, assets and liabilities have been accounted for on the basis of their relationship to the operating activities of the segment and amounts allocated on a reasonable basis.

13 : Related Party Disclosures

a) List of related parties

1. Enterprises where control exists : NIL

2. Other related parties with whom the Company had transactions, etc.

i) Associates & Joint Ventures

Saurabh Agrotech Pvt Ltd Raghuvar (India) Ltd Dhruva Enclave Pvt Ltd Data Houseware Ltd Indo Caps Pvt Ltd

ii) Key Management Personnel & their relatives

Niranjan Lal Data Vijay Data Daya Kishan Data

iii) Enterprises where Key Management Personnel or relatives of Key Management Personnel have significant influence.

Vijay Industries Vijay Oil Mills Data Infosys Ltd Shree Bhagwati Farms Jhankar Motels Pvt Ltd Gaurav Ceramics (P) Ltd Deepak Vegpro Pvt Ltd Data Oils.

---

Mar 31, 2014

1 : CONTINGENT LIABILITIES NOT PROVIDED FOR IN THE ACCOUNT

31.03.2014 31.03.2013

Guarantee and Counter 2.10 NIL

Excise/Sales Tax/Income Tax/PF/ESI/Customs/ Service Tax demands made by the authorities in 392.36 506.18 respect of which appeal has been filed.

Claims against the Company not acknowledged as debts estimated at :

In respect of Third parties 720.84 698.00

2 : LEGAL MATTERS PENDING BEFORE VARIOUS COURTS AND COMPANY LAW BOARD

Some of the shareholders have filed Petition under section 397,398,111A and 247 of the Companies Act, 1956 against the company in Company Law Board Bench, Delhi and the same is pending for adjudication. The Company has objected the Petition, under section 399 of the Companies Act, 1956 while relying upon order dated 14.03.2012 of Hon''ble High Court of Jaipur, before Hon''ble CLB and prayed for its dismissal. This matter has been fixed for hearing on 15.07.2014.

Some of the shareholders have also filed partition suit in Trial Court of Jaipur and they have impleaded the Company as a party to the said suit. The Interim Order passed by the Trial Court is vacated by the Hon''ble Rajasthan High Court, Jaipur Bench, Jaipur vide its order dated 14.03.2012. The said shareholders challenged the order of Hon''ble High Court of Rajasthan before Hon''ble Supreme Court of Indai through Special Leave Petition (SLP) in the month of March, 2012. The Hon''ble Supreme Court of India vide its order dated 30.03.2012 directed the Company not to alienate the suit property. The next date of hearing is fixed on 14.07.2014.

3 : Previous year''s figures have been regrouped/recasted/rearranged wherever necessary to conform to this year''s presentation.

4 : Various debit and credit balances appearing in the various heads remain unconfirmed by the respective parties. Necessary adjustment, if any, will be made in the books of accout as and when the statement of accounts/balance confirmation are received from the parties.

5 : DISCLOSURE PURSUANT TOACCOUNTING STANDARD 15 "Employee Benefits"

a) An amount of Rs.23.53 Lacs (2012-13 Rs.23.65 Lacs) as contribution towards defined contribution plans is recognized as expenses of Profit & Loss.

b) The disclosure in respect of the Defined Benefit Plans are given below :

The Employee Gratuity Fund is not Funded and managed by the Company. The present value of obligation is determined based on the actuarial valuation using the projected unit credit method. The

6 : SEGMENT INFORMATION:

The business segment has been considered as the primary segment. The Company is organized into three business segments, Edible Oils, Ceramics and Wind Power Generation. The detail of products and services included in above segments are given below- Edible Oil segment includes Vanaspati Ghee, Edible Oils, Oil Cake, De-oiled cake etc , Ceramics segments includes Crockery and Insulators and Wind Power segment includes electricity generation from Wind Power Generators.

Geographical segments have been considered as secondary segments and bifurcated into India and Outside India.

Segment revenue, results, assets and liabilities have been accounted for on the basis of their relationship to the operating activities of the segment and amounts allocated on a reasonable basis.

7 : Related Party Disclosures

a) List of related parties

1. Enterprises where control exists : NIL

2. Other related parties with whom the Company had transactions, etc.

i) Associates & Joint Ventures :

Saurabh Agrotech Pvt Ltd Raghuvar (India) Ltd

Vijay International Ltd Vijay Agro Mills (P) Ltd Dhruva Enclave Pvt Ltd Data Houseware Ltd Data Foods (P) Ltd Gaurav Enclave Pvt Ltd

ii) Key Management Personnel & their relatives

Niranjan Lal Data Vijay Data Daya Kishan Data Neelima Data

iii) Enterprises where Key Management Personnel or relatives of Key Management Personnel have significant influence.

Vijay Industries

Vijay Oil Mills

Pyarelal Niranjanlal & Co.

Pyare Lal Niranjan Lal Data Infosys Ltd Indo Caps Pvt Ltd Shree Bhagwati Farms Bhagwati Agro Products Ltd Jhankar Motels Pvt Ltd Data Developers Ltd Swastic Udyog Data Arcade Shree Data Krishi Farm Gaurav Ceramics (P) Ltd Deepak Vegpro Pvt Ltd Pawan Udyog Gaurav Vegpro Pvt Ltd Data Enclave Pvt Ltd Data Oils

---

Mar 31, 2013

1: CONTINGENT LIABILITIES NOT PROVIDED FOR IN THE ACCOUNT

31.03.2013 31.03.2012

Guarantee and Counter NIL NIL

Excise/Sales Tax/Income Tax PF/ESI/Customs/

Service Tax demands made by the authorities in 506.18 401.18

respect of which appeal has been filed.

Claims against the Company not acknowledged as debts estimated at:

In respect of Third parties 698.00 680.20

2: LEGAL MATTERS PENDING BEFORE VARIOUS COURTS AND COMPANY LAW BOARD

Some of the shareholders have filed Petition under section 397,398,111 A and 247 of the Companies Act, 1956 against the company in Company Law Board Bench, Delhi and the same is pending for adjudication. The Company has objected the Petition, under section 399 of the Companies Act, 1956 while relying upon order dated 14.03.2012 of Hon''ble High Court of Jaipur, before Hon''ble CLB and prayed for its dismissal. This matter has been fixed for hearing on 02.08.2013.

Some of the shareholders have also filed partition suit in Trial Court of Jaipur and they have imp leaded the Company as a party to the said suit. The Interim Order passed by the Trial Court is vacated by the Hon''ble Rajasthan High Court, Jaipur Bench, Jaipur vide its order dated 14.03.2012. The said shareholders challenged the order of Hon''ble High Court of Rajasthan before Hon''ble Supreme Court of Indai through Special Leave Petition (SLP) in the month of March, 2012. The Hon''ble Supreme Court of India vide its order dated 30.03.2012 directed the Company not to alienate the suit property. The next date of hearing is fixed on 26.06.2013.

3 : Previous year''s figures have been regrouped/recanted/rearranged wherever necessary to conform to this year''s presentation.

4: DISCLOSURE PURSUANT TO ACCOUNTING STANDARD 15 "Employee Benefits"

a) An amount of Rs.23.65 Lacs (2011-12 Rs.24.65 Lacs) as contribution towards defined contribution plans is recognized as expenses of Profit & Loss.

5 : Related Party Disclosures

a) List of related parties

1. Enterprises where control exists : NIL

2. Other related parties with whom the Company had transactions, etc.

i) Associates & Joint Ventures :

Saurabh Agrotech Pvt Ltd Raghuvar (India) Ltd

Vijay International Ltd Vijay Agro Mills (P) Ltd Dhruva Enclave Pvt Ltd Data Houseware Ltd Data Foods (P) Ltd Gaurav Enclave Pvt Ltd

ii) Key Management Personnel & their relatives Niranjan Lai Data

Vijay Data Daya Kishan Data Neelima Data

iii) Enterprises where Key Management Personnel or relatives of Key Management Personnel have significant influence.

Vijay Industries

Vijay Oil Mills

Pyarelal Niranjanlal & Co.

Pyare Lai Niranjan Lai Data Infosys Ltd Indo Caps Pvt Ltd Shree Bhagwati Farms Bhagwati Agro Products Ltd Jhankar Motels Pvt Ltd Data Developers Ltd Swastic Udyog Data Arcade Shree Data Krishi Farm Gaurav Ceramics (P) Ltd Deepak Vegpro Pvt Ltd Pawan Udyog Gaurav Vegpro Pvt Ltd Data Enclave Pvt Ltd

---

Mar 31, 2012

1.1 Of the above 15500 (P.Y. 15500) Equity shares were allotted as fully paid up pursuant to contracts without payments being received in cash.

1.2 Of the above 1456126 (P.Y. 1456216) Equity shares issued as fully paid up Bonus shares by way of capitalization of free reserves.

1.3 Of the above 19962 (P.Y. 19962) Equity shares were allotted as fully paid up pursuant to the scheme of arrangement for amalgamation of the Jaipur Glass & Potteries Ltd with the Company.

1.4 Of the above 56205 (P.Y. 56205) Equity shares were allotted as fully paid up pursuant to the scheme of amalgamation for amalgamation of Goenka Products Pvt. Ltd with the Company.

1.5 Shareholder holding more than 5% of the Ordinary Shares in the company.

2.1 Working Capital Loan from State Bank of Bikaner & Jaipur, Alwar are secured by hypothecation, both present & future, of raw material, finished goods, work-in-process, packing materials, stores, bills for collection and book-debts and on the personal guarantee of Directors Shri Niranjan Lal Data, Shri Vijay Data, Shri Daya Kishan Data and their relative Smt. Nirmala Devi & Shri Saurabh Data and first charge over the fixed assets of the Company.

2.2 Short term loan from IDBI are secured by first pari passu charge by way of equitable mortgage of land & building of company's Jaipur Unit and personal guarantee of Directors Shri Vijay Data and Shri Daya Kishan Data.

2.3 Unsecured loan from bank of Rs.10.00 Crores is taken from Kotak Mahindra Bank Ltd. This loan is a short term loan and is personally guaranteed by Shri Niranjan Lal Data and Shri Vijay Data.

3.1 Disclosures as required under the Micro, Small and Medium Enterprises Development Act, 2006 based on the information available with the Company are given below.

There are no outstanding amount payable beyond the agreed period to Micro, Small and Medium Enter- prises as on the Balance Sheet date to the extent such enterprises have been identified, based on the information available with the company.

3.2 The Ceramic Division (erstwhile JGPWL) received a sum of Rs.14.49 lacs during the period 1989- 91, against the use of Company's property. On account of non-execution of deed of conveyance in favour of these persons and pending legal formalities, the said amount have been treated as other creditors.

4.1 Shares of Raghuvar (India) Ltd being not traded during the financial year hence market value could not be ascertained.

4.2 According to legal opinion, the Company continues to be the owner of the shares of Saurabh Agrotech (P) Ltd, Alwar. The company has challenged the illegal transfer of shares through Company Petition in Company Law Board and matter is Sub Judice before Company Law Board.

5.1 During the financial year 2007-08, the Company, to widen its existing operations, has invested a sum of Rs. 1212.00 lacs by way of acquisition of First Charge over the fixed assets of M/s ROM Industries Ltd situated at Spl — 1, RIICO Industrial Area, Hiragana, Tehsil Bassi, District Jaipur (Raj.) from IFCI, vide deed of assignment dated 31.10.2007. The Company has stepped into the shoes of IFCI and is having all rights and liability, which are having with IFCI. The Company has filed form 8 for registration/modification of charges but same is pending for want of condonation of delay. The company is taking appropriate action for condonation of delay with apporpriate authority and for want of completion of legal formalities, the above amount has been shown as loans & advances.

5.2 Since the Physical possession of Land, Building and Plant & Machinery of Sriganganagar Co-operative Cotton Complex Ltd, Sriganganagar (Ginning & Spinning Mill) were taken over by the Company on 25.04.2011 vide possession report No.964 dated 25.04.2011 and the sale deed got registered on 09.06.2011 in favour of the Company therefore the above amount of Rs.801.00 Lacs along with regristration and transfer expenses have been transfered under the head fixed assets from the head Loans & Advances.

6 : CONTINGENT LIABILITIES NOT PROVIDED FOR IN THE ACCOUNT

31.03.2012 31.03.2011

Guarantee and Counter NIL NIL

Excise/Sales Tax/Income Tax PF/ESI/Customs/ Service Tax demands made by the authorities in respect of which appeal has been filed. 401.18 515.11

Claims against the Company not acknowledged as debts estimated at :

In respect of Third parties 680.20 663.40

7 : LEGAL MATTERS PENDING BEFORE VARIOUS COURTS AND COMPANY LAW BOARD

Some of the shareholders have filed Petition under section 397,398,111A and 247 of the Companies Act, 1956 against the company in Company Law Board Bench, Delhi and the same is pending for adjudication. The Company has objected the Petition, under section 399 of the Companies Act, 1956 and relying upon order dated 14.03.2012 of Hon'ble High Court of Jaipur, before Hon'ble CLB and prayed for its dismissal. This matter has been fixed for hearing on 23.08.2012.

Some of the shareholders have also filed partition suit in Trial Court of Jaipur and they have impleaded the Company as a party to the said suit. The Interim Order passed by the Trial Court is vacated by the Hon'ble Rajasthan High Court, Jaipur Bench, Jaipur vide its order dated 14.03.2012. The said shareholders challenged the order of Hon'ble High Court of Rajasthan before Hon'ble Supreme Court of India through Special Leave

Petition (SLP) in the month of March, 2012. The Hon'ble Supreme Court of India vide its order dated 30.03.2012 directed the Company not to alienate the suit property. The next date of hearing is fixed on 17.09.2012.

8 : Previous year's figures have been regrouped/recasted/rearranged wherever necessary to conform to this year's presentation..

9 : Various debit and credit balances appearing in the various heads remain unconfirmed by the respective parties. Necessary adjustment, if any, will be made in the books of account as and when the statement of accounts/balance confirmation are received from the parties.

10: SEGMENT INFORMATION:

The business segment has been considered as the primary segment. The Company is organized into three business segments, Edible Oils, Ceramics and Wind Power Generation. The detail of products and services included in above segments are given below-

Edible Oil segment includes Vanaspati Ghee, Edible Oils, Oil Cake, De-oiled cake etc , Ceramics segments includes Crockery and Insulators and Wind Power segment includes electricity generation from Wind Power Generators.

Geographical segments have been considered as secondary segments and bifurcated into India and Outside India.

Segment revenue, results, assets and liabilities have been accounted for on the basis of their relationship to the operating activities of the segment and amounts allocated on a reasonable basis.

11 : Related Party Disclosures

a) List of related parties

1. Enterprises where control exists : NIL

2. Other related parties with whom the Company had transactions, etc.

i) Associates & Joint Ventures :

Saurabh Agrotech Pvt Ltd Raghuvar (India) Ltd

Vijay International Ltd Vijay Agro Mills (P) Ltd Dhruva Enclave Pvt Ltd Data Houseware Ltd Data Foods (P) Ltd Gaurav Enclave Pvt Ltd

ii) Key Management Personnel & their relatives Niranjan Lal Data

Vijay Data Daya Kishan Data Neelima Data

iii) Enterprises where Key Management Personnel or relatives of Key Management Personnel have significant influence.

Vijay Industries

Vijay Oil Mills

Pyarelal Niranjanlal & Co.

Pyare Lal Niranjan Lal

Data Infosys Ltd

Indo Caps Pvt Ltd

Shree Bhagwati Farms

Bhagwati Agro Products Ltd

Jhankar Motels Pvt Ltd

Data Developers Ltd

Swastic Udyog

Data Arcade

Shree Data Krishi Farm

Gaurav Ceramics (P) Ltd

Deepak Vegpro Pvt Ltd

Pawan Udyog

Gaurav Vegpro Pvt Ltd

Data Enclave Pvt Ltd

---

Mar 31, 2011

1) The Closing Stock have been taken, valued and certified by the Management.

2) In the opinion of the Management and to the best of their knowledge and belief, the value of fixed assets, current assets and loans and advances, if realised in the ordinary course of business, would not be less than at which they are stated in the Balance Sheet, unless otherwise stated.

3) Contingent liabilities not provided for in the account -

(Rs. In Lacs)

31.03.11 31.03.10

a) Guarantee and Counter - 5.00 Guarantees

b) Excise/Sales Tax/Income Tax 515.11 850.61 PF/ESI/Customs/Service Tax demands made by the authorities in respect of which appeal has been filed.

c) Claims against the Company not acknowledged as debts estimated at :

In respect of Third parties 663.40 639.35

4) Exchange difference in respect of forward exchange contracts to be charged in the subsequent accounting year Rs.NIL (P.Y. Rs.0.53 Lacs).

5) Working Capital Loan from State Bank of Bikaner & Jaipur, Alwar are secured by hypothecation, both present & future, of raw material, finished goods, work-in-process, packing materials, stores, bills for collection and book-debts and on the personal guar- antee of Directors Shri Niranjan Lal Data, Shri Vijay Data, Shri Daya Kishan Data and their relative Smt. Nirmala Devi & Shri Saurabh Data and first charge over the fixed assets of the Company.

6) Short term loan from IDBI are secured by first pari passu charge by way of equitable mortgage of land & building of company's Jaipur Unit and personal guarantee of Directors Shri Vijay Data and Shri Daya Kishan Data.

7) Unsecured loan from bank of Rs.10.00 Crores is taken from Kotak Mahindra Bank Ltd. This loan is a short term loan and is personally guaranteed by Shri Niranjan Lal Data and Shri Vijay Data.

8) Payments made or provided during the financial year to Directors as Managerial remuneration under section 198 of the Act paid or payable during the financial year Rs.88.17 Lacs (P.Y. Rs.40.78 Lacs).

9)Previous year's figures have been regrouped/recasted/rearranged wherever necessary to conform to this year's presentation.

10)Various debit and credit balances appear- ing in the various heads remain unconfirmed by the respective parties. Necessary adjustment, if any, will be made in the books of account as and when the statement of accounts/balance confirmation are received from the parties.

11)Expenditure on employees who are in receipt of remuneration of Rs.2400000/- p.a. or more during the year or Rs.200000/- per month, if employed for a part of the year Rs.88.17 Lacs (P.Y. NIL).

12)The Ceramic Division (erstwhile JGPWL) received a sum of Rs.14.49 lacs during the period 1989-91, against the use of Company's property. On account of non- execution of deed of conveyance in favour of these persons and pending legal formali- ties, the said amount have been treated as other creditors.

13)During the financial year 2006-07, the Company made a bid to purchase Land, Building and Plant & Machinery of Sriganganagar Co-operative Cotton Complex Ltd, Sriganganagar (Ginning & Spinning Mill) for Rs.801.00 Lacs. Physical possession of the fixed assets were taken over by the Company on 25.04.2011 vide possession report No.964 dated 25.04.2011 and the sale deed got registered on 09.06.2011 in favour of the Company. Since the Company has not assumed the title over the assets as on 31.03.2011, therefore the above amount of Rs.801.00 Lacs have been shown as deposit under the head Loans & Advances.

14)During the financial year 2007-08, the Com- pany, to widen its existing operations, has invested a sum of Rs.1212.00 lacs by way of acquisition of First Charge over the fixed assets of M/s ROM Industries Ltd situated at Spl-1, RIICO Industrial Area, Hirawala, Tehsil Bassi, District Jaipur (Raj.) from IFCI, vide deed of assignment dated 31.10.2007. The Company has stepped into the shoes of IFCI and is having all rights and liability, which are having with IFCI. The Charge in favour of the IFCI stands registered in the records of the ROC, Punjab but the same is yet to be registered in favour of the Com- pany. The Jaipur Unit of M/s ROM Industries Ltd is engaged in similar business as that of the Company. ROM Industries Ltd is a declared sick company by BIFR and a DRS has been presented in AAIFR by ROM Industries Ltd and for want of completion of legal formalities, the above amount has been shown as loans & advances.

15)According to legal opinion, the company continues to be the owner of the shares of Saurabh Agrotech (P) Ltd, Alwar since the consideration for the transfer of shares has not been determined, therefore the Com- pany has rescinded the contract for sale of shares.

16)The Company is in process of identifying Micro & Small Enterprises as defined un- der the Micro, Small & Medium Enterprises development Act, 2006. Consequently, as of now, it is neither possible for the Com- pany to ascertain whether payment to such enterprises has been made within 45 days from the date of acceptance of supply of goods or services rendered by the supplier nor to give the relevant disclosures as re- quired under the Act.

17)Segment Information:

The Business segment has been considered as the primary segment. The Company is organised into three segments, Edible Oils, Ceramics & Wind Power Generation. The detail of products and ser- vices included in above segments are given below -

Edible Oils segment includes Vanaspati Ghee, Edible Oils, Oil Cake, De-oiled Cake etc, Ceramic segments includes Crockery and Insulators and Wind Power segment in- cludes electricity generation from Wind Power Generators.

Further the geographical segments have been considered as secondary segments and bifurcated into India and outisde India.

Segment revenue, results, assets and liabilities have been accounted for on the basis of their relationship to the operating activities of the segment and amounts allocated on a reasonable basis.

18) Related Party Disclosures

a) List of related parties

1. Enterprises where control exists : NIL

2. Other related parties with whom the Company had transactions, etc. i) Associates & Joint Ventures :

Saurabh Agrotech Pvt Ltd

Raghuvar (India) Ltd

Vijay International Ltd

Vijay Agro Mills (P) Ltd

Dhruva Enclave Pvt Ltd

Data Houseware Ltd

Data Foods (P) Ltd

Gaurav Enclave Pvt Ltd

ii) Key Management Personnel & their relatives

Niranjan Lal Data

Vijay Data

Daya Kishan Data

Neelima Data

iii) Enterprises where Key Management Personnel or relatives of Key Management Personnel have significant influence.

Vijay Industries

Vijay Oil Mills

Pyarelal Niranjanlal & Co.

Pyare Lal Niranjan Lal

Data Infosys Ltd

Indo Caps Pvt Ltd

Shree Bhagwati Farms

Bhagwati Agro Products Ltd

Jhankar Motels Pvt Ltd

Data Developers Ltd

Swastic Udyog

Data Arcade

Shree Data Krishi Farm

Gaurav Ceramics (P) Ltd

Deepak Vegpro Pvt Ltd

Pawan Udyog

Gaurav Vegpro Pvt Ltd

Data Enclave Ltd

---

Mar 31, 2010

1) The Closing Stock have been taken, valued and certified by the Management.

2) In the opinion of the Management and to the best of their knowledge and belief, the value of fixed assets, current assets and loans and advances, if realised in the ordinary course of business, would not be less than at which they are stated in the Balance Sheet, unless otherwise stated.

3) Contingent liabilities not provided for in the account -

(Rs. In Lacs)

31.03.10 31.03.09

a) Guarantee and Counter 5.00 14.08 Guarantees

b) Excise/Sales Tax/Income Tax 850.61 833.74 PF/ESI/Customs/Service Tax demands made by the authorities in respect of which appeal has been filed.

c) Claims against the Company not acknowledged as debts estimated at :

In respect of Third parties 639.35 472.58

4) Exchange difference in respect of forward exchange contracts to be charged in the subsequent accounting year Rs.0.53 Lacs (P.Y. NIL).

5) Working Capital Loan from State Bank of Bikaner & Jaipur, Alwar are secured by hy- pothecation, both present & future, of raw material, finished goods, work-in-process, packing materials, stores, bills for collection and book-debts and on the personal guar- antee of Directors Shri Niranjan Lal Data, Shri Vijay Data, Shri Daya Kishan Data and their relative Smt. Nirmala Devi & Shri Saurabh Data and first charge over the fixed assets of the Company.

6) Short term loan from IDBI are secured by first pari passu charge by way of equitable mortgage of land & building of companys Jaipur Unit and personal guarantee of Directors Shri Vijay Data and Shri Daya Kishan Data.

7) Payments made or provided during the financial year to Directors as Managerial remuneration under section 198 of the Act paid or payable during the financial year Rs.40.78 Lacs (P.Y. Rs.31.55 Lacs).

8) Previous years figures have been regrouped/recasted/rearranged wherever necessary to conform to this years presentation.

9)Various debit and credit balances appearing in the various heads remain unconfirmed by the respective parties. Necessary adjustment, if any, will be made in the books of account as and when the statement of accounts/balance confirmation are received from the parties.

10)Expenditure on employees who are in receipt of remuneration of Rs.2400000/- p.a. or more during the year or Rs.200000/- per month, if employed for a part of the year NIL (P.Y. NIL).

11)The Ceramic Division (erstwhile JGPWL) received a sum of Rs.14.49 lacs during the period 1989-91, against the use of Companys property. On account of non- execution of deed of conveyance in favour of these persons and pending legal formali- ties, the said amount have been treated as other creditors.

12)During the financial year 2006-07, the Company made a bid to purchase Land, Building and Plant & Machinery of Sriganganagar Co-operative Cotton Complex Ltd, Sriganganagar (Ginning & Spinning Mill) for Rs.801.00 Lacs. The Govt. of Rajasthan has accepted the bid and Com- pany has deposited entire amount of Rs.801.00 Lacs. The possession of the as- sets of Cotton Mill has not been handed-over to the Company, since the matter is sub- judice. The amount paid is fully recoverable in the event if the assets are not handed- over to the Company by the Govt. of Rajasthan, therefore the above amount of Rs.801.00 Lacs have been shown as deposit under the head Loans & Advances.

13)During the financial year 2007-08, the Com- pany, to widen its existing operations, has invested a sum of Rs.1212.00 lacs by way acquisition of First Charge over fixed assets of M/s ROM Industries Ltd from IFCI, which is situated at RIICO Industrial Area, Hirawala, Tehsil Bassi, Distt. Jaipur (Raj). The Jaipur Unit of M/s ROM Industries Ltd is engaged in similar business as that of the Company. ROM Industries Ltd is a declared sick com- pany by BIFR and a DRS has been pre- sented in AAIFR by ROM Industries Ltd and for want of completion of legal formalities, the above amount has been shown as loans & advances.

14)According to legal opinion, the company continues to be the owner of the shares of Saurabh Agrotech (P) Ltd, Alwar since the consideration for the transfer of shares has not been determined, therefore the Company has rescinded the contract for sale of shares.

15)The Company is in process of identifying Micro & Small Enterprises as defined un- der the Micro, Small & Medium Enterprises development Act, 2006. Consequently, as of now, it is neither possible for the Com- pany to ascertain whether payment to such enterprises has been made within 45 days from the date of acceptance of supply of goods or services rendered by the supplier nor to give the relevant disclosures as re- quired under the Act.

16)Segment Information:

The Business segment has been considered as the primary segment. The Company is organised into three segments, Edible Oils, Ceramics & Wind Power Generation. The detail of products and ser- vices included in above segments are given below -

Edible Oils segment includes Vanaspati Ghee, Edible Oils, Oil Cake, De-oiled Cake etc, Ceramic segments includes Crockery and Insulators and Wind Power segment in- cludes electricity generation from Wind Power Generators.

Further the geographical segments have been considered as secondary segments and bifurcated into India and outisde India.

Segment revenue, results, assets and liabilities have been accounted for on the basis of their relationship to the operating activities of the segment and amounts allo- cated on a reasonable basis.

17) Related Party Disclosures

a) List of related parties

1. Enterprises where control exists : NIL

2. Other related parties with whom the Company had transactions, etc. i) Associates & Joint Ventures :

Saurabh Agrotech Pvt Ltd

Raghuvar (India) Ltd

Vijay International Ltd

Vijay Agro Mills (P) Ltd

Dhruva Enclave Pvt Ltd

Data Houseware Ltd

Data Foods (P) Ltd

Gaurav Enclave Pvt Ltd

ii) Key Management Personnel & their relatives

Niranjan Lal Data

Vijay Data

Daya Kishan Data

Neelima Data

iii) Enterprises where Key Management Personnel or relatives of Key Management Personnel have significant influence.

Vijay Industries Vijay Oil Mills Pyarelal Niranjanlal & Co. Pyare Lal Niranjan Lal Data Infosys Ltd Indo Caps Pvt Ltd Shree Bhagwati Farms Bhagwati Agro Products Ltd Jhankar Motels Pvt Ltd Data Developers Ltd Swastic Udyog Data Arcade Shree Data Krishi Farm Gaurav Ceramics (P) Ltd Deepak Vegpro Pvt Ltd Pawan Udyog