Notes to Accounts of Anirit Ventures Ltd.

Mar 31, 2025

Nature/Purpose of Reserves:Retained Earnings

Retained earnings or accumulated surplus represents total of all profits retained since Company''s inception. Retained earnings are credited with current year profits, reduced by losses, if any, dividend payouts, transfers to General reserve or any such other appropriations to specific reserves.

Terms/Rights attached to Equity shares

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

Explanations to items included in computing the above Ratios :

1. Current Ratio: Current Asset over Current Liabilities

2. Debt-Equity Ratio: Debt (Borrowings) over total shareholders equity

3. Debt Service Coverage Ratio: EBIT Interest Depreciation over

4. Net profit ratio: Profit After Tax over Revenue from operations

5. Return on Equity Ratio: Profit After Tax over average Equity

6. Return on Capital employed: Profit Before Interest & Tax over Capital employed

7 Return on investment: Interest income on fixed deposit Mutual fund investment gain over average investments

8. Trade payables turnover ratio: Purchases/Expenses over average Trade Payable

9. Net capital turnover ratio: Revenue from operations over average working capital Note 17 Other Statutory Information

(I) The Company does not have any Benami property, where any proceeding has been initiated or pending against the Company for holding any Benami property.

(II) The Company does not have any charges or satisfaction which is yet to be registered with ROC beyond the statutory period.

(III) The Company has not traded or invested in Crypto currency or Virtual Currency during the financial year.

(IV) The Company has not advanced or loan or invested funds to any person(s) or entity(is), including foreign entities (Intermediaries) with the understanding that the Intermediary shall: (a) directly or indirectly lend or invest in other persons or entities identified in any manner whatsoever by or on behalf of the company (Ultimate Beneficiaries) or (b) provide any guarantee, security or the like to or on behalf of the Ultimate Beneficiaries.

(V) The Company has not received any fund from any person(s) or entity(is), including foreign entities (Funding Party) with the understanding (whether recorded in writing or otherwise) that the Company shall: (a) directly or indirectly lend or invest in other persons or entities identified in any manner whatsoever by or on behalf of the Funding Party (Ultimate Beneficiaries) or (b) provide any guarantee, security or the like on behalf of the Ultimate Beneficiaries.

(VI) The Company does not have any transaction which is not recorded in the books of accounts that has been surrendered or disclosed as income during the year in the tax assessments under the Income Tax Act, 1961 (such as, search or survey or any other relevant provisions of the Income Tax Act, 1961.

(VII) The Company is not declared as wilful defaulter by any bank or financial institution (as defined under the Companies Act, 2013) or consortium thereof or other lender in accordance with the guidelines on wilful defaulters issued by the Reserve Bank of India.

(VIII) The Company does not have any subsidiaries and hence the compliance in respect of the number of layers for its holding in downstream companies prescribed under clause (87) of section 2 of the Companies Act, 2013 read with the Companies (Restriction on number of Layers) Rules, 2017, does not arise.

(IX) The Company has not revalued any of its Property, Plant and Equipment Right-of-Use Assets) during the year.

(X) The figures have been given as '' in lakhs except Earnings Per Share and Weighted average number of equity shares outstanding during the year.

(XI) The previous year''s figures have been regrouped/reclassified to correspond to current year''s figures.

Note 18

The balance in parties accounts are subject to confirmation and reconciliation, if any, in the opinion of the management all

current assets including stock in trade/ sundry debtors and loans and advances in the normal course of business would

realize the value atleast to the extent stated in the Balance sheet.

Note 19

Based on information available with Company, there are no outstanding dues to enterprise under MSMED Act, 2006 at the

year end.

(ii) Fair value Hierarchy

Fair value hierarchy explains the judgement and estimates made in determining the fair values of the financial instruments that are -

a) recognized and measured at fair value.

b) measured at amortized cost and for which fair values are disclosed in the financial statements.

To provide an indication about the reliability of the inputs used in determining fair value, the Company has classified its financial instruments into the three levels prescribed under the accounting standard.

Level 1 - Quoted prices (unadjusted) in active markets for identical assets or liabilities

Level 2 - Inputs other than quoted prices included within Level 1 that are observable for the asset or liability, either directly (i.e. as prices) or indirectly (i.e. derived from prices)

Level 3 - Inputs for the assets or liabilities that are not based on observable market data (unobservable inputs)

Assets and Liabilities that are disclosed at Amortized Cost for which Fair values are disclosed are classified as Level 3.

Set out below is a comparison, by class, of the carrying amounts and fair values of the company''s financial instruments that are not carried at fair value in the balance sheet.

Fair value of financial assets and liabilities measured at amortized cost (Level 3) - Nil Measurement of fair valuesAs there are no investment made by the company measured at Fair value through profit and loans or Fair value through Other Comprehensive income hence fair value measurement not disclosed.

The Company''s activities expose it to a variety of financial risks: market risk, interest risk etc. The Company''s focus is to foresee the unpredictability of financial markets and seek to minimize potential adverse effects on its financial performance.

Market risk

Market risk is the risk that the fair value of future cash flows of a financial instrument will fluctuate because of changes in market prices. Market risk comprises three types of risk: interest rate risk, currency risk and commodity risk. Major financial instruments affected by market risk includes borrowings.

Interest rate risk

Interest rate risk is the risk that the fair value or future cash flows of a financial instrument will fluctuate because of changes in market interest rates.The Company has borrowed from the holding company at fixed rate thus Company do not foresee any interest rate risk.

Foreign currency risk

Foreign currency risk is the risk that the fair value or future cash flows of an exposure will fluctuate because of changes in foreign exchange rates. The Company does not have any transaction in foreign currency hence this is not applicable.

Credit risk

Credit risk refers to the risk of default on its obligation by the counterparty resulting in a financial loss.The maximum exposure of the financial assets are contributed by Loans & Advances, Receivables and cash and cash equivalents.

Exposure to credit risk

The allowance for impairment in respect of trade receivables during the year was Rs Nil.

Cash and cash equivalents

The Company held cash and cash equivalents with credit worthy banks of Rs 5.15 and Rs 14.34 lakhs as at 31 March 2024 ; 31 March 2025 respectively. The credit worthiness of such banks and financial institutions is evaluated by the management on an ongoing basis and is considered to be good.

Liquidity risk

Liquidity is defined as the risk that the Company will not be able to settle or meet its obligations on time or at a reasonable price. The Company''s treasury department is responsible for liquidity, funding as well as settlement management. In addition, processes and policies related to such risks are overseen by senior management. Management monitors the Company''s net liquidity position through rolling forecasts on the basis of expected cash flows.

The Company manages the capital structure by a balanced mix of debt and equity. Necessary adjustments are made in the capital structure considering the factors vis-a-vis the changes in the general economic conditions, available options of financing and the impact of the same on the liquidity position. Higher leverage is used for funding more liquid working capital needs and conservative leverage is used for long-term capital investments. The Company calculates the level of debt capital required to finance the working capital requirements using traditional and modified financial metrics including leverage/ gearing ratios and asset turnover ratios.

Note 24 : Segment Reporting as required under Indian Accounting Standard 108, "Operating Segments

Operating segments are reported in a manner consistent with the internal reporting provided to the Chief Operating Decision Maker (“CODM”) of the Company. The CODM, who is responsible for allocating resources and assessing performance of the operating segments, has been identified as the Director of the Company. The Company operates only in one Business Segment i.e.agriculture and related other ancillary activities.” hence does not have any reportable Segments as per Ind AS 108 “Operating Segments.

Note 25

Based on our examination, which included test checks, the Company has used accounting software systems for maintaining its books of account for the financial year ended March 31, 2025, which have the feature of recording audit trail (edit log) facility and the same has operated throughout the year for all relevant transactions recorded in the software systems. Further, during the course of our audit we did not come across any instance of the audit trail feature being tampered with and the audit trail has been preserved by the Company as per the statutory requirements for record retention .

Note 26: Approval of financial statements

The financial statements were approved for issue by the board of directors on May 23rd, 2025.

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Mar 31, 2024

2.14 Provisions and Contingencies

A provision is recognised when the Company has a present obligation (legal/constructive) as a result of past events and it is probable that an outflow of resources will be required to settle the obligation, in respect of which a reliable estimate can be made. The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the end of the reporting period, taking into account the risks and uncertainties surrounding the obligation. When a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when the effect of the time value of money is material).

Contingent liability is disclosed for (i) Possible obligation which will be confirmed only by future events not wholly within the control of the Company or (ii) Present obligations arising from past events where it is not probable that an outflow of resources will be required to settle the obligation or a reliable estimate of the amount of the obligation cannot be made. When some or all of the economic benefits required to settle a provision are expected to be recovered from a third party, a receivable is recognised as an asset if it is virtually certain that reimbursement will be received and the amount of the receivable can be measured reliably.

Provisions for the expected cost of sales related obligations under local sale of goods legislation are recognised at the date of sale of the relevant products, at the management''s best estimate of the expenditure required to settle the Company''s obligation.

2.15 Financial Instruments

Financial assets and financial liabilities are recognised when an entity becomes a party to the contractual provisions of the instruments. Financial assets and financial liabilities are initially measured at fair value. Transaction costs that are directly attributable to the acquisition or issue of financial assets and financial liabilities (other than financial assets and financial liabilities at fair value through profit or loss) are added to or deducted from the fair value of the financial assets or financial liabilities, as appropriate, on initial recognition. Transaction costs directly attributable to the acquisition of financial assets or financial liabilities at fair value through profit or loss are recognised immediately in profit or loss.

2.16 Financial Assets

All regular way purchases or sales of financial assets are recognised and derecognised on a trade date basis. Regular way purchases or sales are purchases or sales of financial assets that require delivery of assets within the time frame established by regulation or convention in the marketplace. All recognised financial assets are subsequently measured in their entirety at either amortised cost or fair value, depending on the classification of the financial assets.

Classification of Financial Assets

Financial assets that meet the following conditions are subsequently measured at amortised cost less impairment loss (FVTPL) (except for investments that are designated as at fair value through profit or loss on initial recognition):

> the asset is held within a business model whose objective is to hold assets in order to collect contractual cash flows; and

> the contractual terms of the instrument give rise on specified dates to cash flows that are solely payments of principal and interest on the principal amount outstanding.

Financial assets that meet the following conditions are subsequently measured at fair value through other comprehensive income (FVTOCI) (except for investments that are designated as at fair value through profit or loss on initial recognition):

> the asset is held within a business model whose objective is achieved both by collecting

contractual cash flows and selling financial assets; and

> the contractual terms of the instrument give rise on specified dates to cash flows that are solely payments of principal and interest on the principal amount outstanding. All other financial assets are subsequently measured at fair value.

Amortised Cost and Effective Interest Method ___ ______

The effective interest method is a method of calculating the amortised cost of a debt instrument and of allocating interest income over the relevant period. The effective interest rate is the rate that exactly discounts estimated future cash receipts (including all fees and points paid or received that form an integral part of the effective interest rate, transaction costs and other premiums or discounts) through the expected life of the debt instrument, or, where appropriate, a shorter period, to the net carrying amount on initial recognition.

Income is recognised on an effective interest basis for debt instruments other than those financial assets classified as at FVTPL. Interest income is recognised in profit or loss and is included in the other income.

A financial asset is held for trading if:

> it has been acquired principally for the purpose of selling it in the near term; or >on initial recognition it is part of a portfolio of identified financial instruments that the Company manages together and has a recent actual pattern of short-term profit-taking; or >it is a derivative that is not designated and effective as a hedging instrument or a financial guarantee.

Dividends on these investments in equity instruments are recognised in profit or loss when the right to receive the dividends is established and it is probable that the economic benefits associated with the dividend will flow to the entity, the dividend does not represent a recovery of part of cost of the investment and the amount of dividend can be measured reliably.

Financial assets at fair value through profit or loss (FVTPL)

Investments in equity instruments are classified as at FVTPL, unless the Company irrevocably elects on initial recognition to present subsequent changes in fair value in other comprehensive income for equity instruments which are not held for trading. Debt instrument that do not meet the amortised cost criteria or fair value through other comprehensive income criteria (see above) are measured at FVTPL. In addition, debt instruments that meet the amortised cost criteria or the fair value through other comprehensive income criteria but are designated as at FVTPL are measured at FVTPL. A financial asset may be designated as at FVTPL upon initial recognition if such designation eliminates or significantly reduces a measurement or recognition inconsistency that would arise from measuring assets or liabilities or recognising the gains and losses on them on different bases. Financial assets at FVTPL are measured at fair value at the end of each reporting period, with any gains or losses arising on re-measurement recognised in profit or loss. The net gain or loss recognised in profit or loss is included in the other income line item. Dividend on financial assets at FVTPL is recognised when the Company''s right to receive the dividends is established, it is probable that the economic benefits associated with the dividend will flow to the entity, the dividend does not represent a recovery of part of cost of the investment and the amount of dividend can be measured reliably.

Impairment of financial assets

The Company applies the expected credit loss model for recognising impairment loss on financial assets measured at amortised cost, debt instruments at FVTOCI, lease receivables, trade receivables, other contractual rights to receive cash or other financial assets, and financials guarantees not designated as at FVTPL. Expected credit losses are the weighted average of credit losses with the respective risks of default occurring as the weights. Credit loss is the difference between all contractual cash flows that are due to the Company in accordance with the contract and all the cash flows that the Company expects to receive (i.e., all cash shortfalls), discounted at the original effective interest rate (or credit-adjusted effective interest rate for purchased or originated credit-impaired financial assets). The Company estimates cash flows by considering all contractual terms of the financial instrument (for example, prepayment, extension, call and similar options) through the expected life of that financial instruments. The Company measures the loss allowance for a financial instrument at an amount equal to the lifetime expected credit losses if the credit risk on that financial instrument has increased significantly since initial recognition. If the credit risk on a financial instrument has not increased significantly since initial recognition, the Company measures the loss allowance for that financial instrument at an amount equal to 12-month expected credit losses.12-month expected credit losses are portion of the life-time expected credit losses and represent the lifetime cash shortfalls that will result if default occurs within the 12-months after the reporting date and thus, are not cash shortfalls that are predicted over the next 12-months. If the Company measured loss allowance for a financial instrument at lifetime expected credit loss model in the previous period, but determines at the end of a reporting period that the credit risk has not increased significantly since initial recognition due to improvement in credit quality as compared to the previous period, the Company again measures the loss allowance based on 12-month expected credit losses.

When making the assessment of whether there has been a significant increase in credit risk since initial recognition, the Company uses the change in the risk of a default occurring over the expected life of the financial instrument. To make that assessment, the Company compares the risk of a default occurring on the financial instrument as at the reporting date with the risk of a default occurring on the financial instrument as at the date of initial recognition and considers reasonable and supportable information, that is available without undue cost or effort, that is indicative of significant increases in credit risk since initial recognition. For trade receivables or any contractual right to receive cash or another financial asset that result from transactions that are within the scope of Ind AS 11 - Construction Contracts and Ind AS 18 - Revenue, the Company always measures the loss allowance at an amount equal to lifetime expected credit losses.

De-recognition of financial asset

The Company derecognises a financial asset when the contractual rights to the cash flows from the asset expire, or when it transfers the financial asset and substantially all the risks and rewards of ownership of the asset to another party. If the Company neither transfers nor retains substantially all the risks and rewards of ownership and continues to control the transferred asset, the Company recognises its retained interest in the asset and an associated liability for amounts it may have to pay. If the Company retains substantially all the risks and rewards of ownership of a transferred financial asset, the Company continues to recognise the financial asset and also recognises a collateralised borrowing for the proceeds received. On de-recognition of a financial asset in its entirety, the difference between the asset''s carrying amount and the sum of the consideration received and receivable and the cumulative gain or loss that had been recognised in other comprehensive income and accumulated in equity is recognised in profit or loss if such gain or loss would have otherwise been recognised in profit or loss on disposal of that financial asset. On derecognition of a financial asset other than in its entirety (e.g. when the Company retains an option to repurchase part of a transferred asset), the Company allocates the previous carrying amount of the financial asset between the part it continues to recognise under continuing involvement, and the part it no longer recognises on the basis of the relative fair values of those parts on the date of the transfer. The difference between the carrying amount allocated to the part that is no longer recognised and the sum of the consideration received for the part no longer recognised and any cumulative gain or loss allocated to it that had been recognised in other comprehensive income is recognised in profit or loss if such gain or loss would have otherwise been recognised in profit or loss on disposal of that financial asset. A cumulative gain or loss that had been recognised in other comprehensive income is allocated between the part that continues to be recognised and the part that is no longer recognised on the basis of the relative fair values of those parts.

Foreign Exchange gains and losses

The fair value of financial assets denominated in a foreign currency is determined in that foreign currency and translated at the spot rate at the end of each reporting period.

For foreign currency denominated financial assets measured at amortised cost and FVTPL, the exchange differences are recognised in profit or loss except for those which are designated as hedging instruments in hedging relationship.

2.17 Financial Liabilities & Equity Instruments Classification as debt or equity

Debt and equity instruments issued by the Company are classified as either financial liabilities or as equity in accordance with the substance of the contractual arrangements and the definitions of a financial liability and an equity instrument.

Equity instruments

An equity instrument is any contract that evidences a residual interest in the assets of an entity after deducting all of its liabilities. Equity instruments issued by the Company are recognised at the proceeds received, net of direct issue costs.

Financial Liabilities

All financial liabilities are subsequently measured at amortised cost using the effective interest method or at FVTPL. However, financial liabilities that arise when a transfer of a financial asset does not qualify for derecognition or when the continuing involvement approach applies, financial guarantee contracts issued by the Company are measured in accordance with the specific accounting policies set out below.

Financial liabilities at FVTPL

Financial liabilities are classified as at FVTPL when the financial liability is either held for trading or it is designated as at FVTPL. A financial liability is classified as held for trading if: it has been incurred principally for the purpose of repurchasing it in the near term; or on initial recognition it is part of a portfolio of identified financial instruments that the Company manages together and has a recent actual pattern of short-term profit-taking; or it is a derivative that is not designated and effective as a hedging instrument. A financial liability other than a financial liability held for trading may be designated as at FVTPL upon initial recognition if: such designation eliminates or significantly reduces a measurement or recognition inconsistency that would otherwise arise; or the financial liability forms part of a Company of financial assets or financial liabilities or both, which is managed and its performance is evaluated on a fair value basis, in accordance with the Company''s documented risk management or investment strategy, and information about the Companying is provided internally on that basis; or the financial liability forms part of a Company of financial assets or financial liabilities or both, which is managed and its performance is evaluated on a fair value basis, in accordance with the Company''s documented risk management or investment strategy, and information about the Companying is provided internally on that basis; or it forms part of a contract containing one or more embedded derivatives, and Ind AS 109 permits the entire combined contract to be designated as at FVTPL in accordance with Ind AS 109 - Financial Instruments. Financial liabilities at FVTPL are stated at fair value, with any gains or losses arising on remeasurement recognised in profit or loss.

Financial liabilities subsequently measured at amortised cost

Financial liabilities that are not held-for-trading and are not designated as at FVTPL are measured at amortised cost at the end of subsequent accounting periods. The carrying amounts of financial liabilities that are subsequently measured at amortised cost are determined based on the effective interest method. Interest expense that is not capitalised as part of costs of an asset is included in the ''finance costs'' line item.

The effective interest method is a method of calculating the amortised cost of a financial liability and of allocating interest expense over the relevant period. The effective interest rate is the rate that exactly discounts estimated future cash payments (including all fees and points paid or received that form an integral part of the effective interest rate, transaction costs and other premiums or discounts) through the expected life of the financial liability, or (where appropriate) a shorter period, to the net carrying amount on initial recognition.

Financial guarantee contracts

A financial guarantee contract is a contract that requires the issuer to make specified payments to reimburse the holder for a loss it incurs because a specified debtor fails to make payments when due in accordance with the terms of a debt instrument. Financial guarantee contracts issued by the Company are initially measured at their fair values and, if not designated as at FVTPL, are subsequently measured at: the amount of loss allowance determined in accordance with impairment requirements of Ind AS 109 - Financial Instruments; and the amount initially recognised less, where appropriate, cumulative amortisation recognised in accordance with the revenue recognition policies of Ind AS 18 - Revenue. For financial liabilities that are denominated in a foreign currency and are measured at amortised cost at the end of each reporting period, the foreign exchange gains and losses are determined based on the amortised cost of the instruments and are recognised in the other income.

Derecognition of financial liabilities

The Company derecognises financial liabilities when, and only when, the Company''s obligations are discharged, cancelled or they expire. The difference between the carrying amount of the financial liability derecognised and the consideration paid and payable is recognised in profit or loss.

2.18 Critical Accounting Judgements And Key Sources Of Estimation Uncertainty

The preparation of financial statements in conformity with Ind AS requires management to make certain judgements and estimates that may effect the application of accounting policies, reported amounts and related disclosures. These judgements and estimates may have an impact on the assets and liabilities, disclosure of contingent liabilities at the date of the financial statements, and income and expense items for the period under review. Actual results may differ from these judgments and estimates. All assumptions, expectations and forecasts that are used as a basis for judgements and estimates in the financial statements represent as accurately an outlook as possible for the Company. These judgements and estimates only represent our interpretation as of the dates on which they were prepared. Important judgements and estimates relate largely to provisions, pensions, tangible and intangible assets (lives, residual values and impairment), deferred tax assets and liabilities and valuation of financial instruments.

16. Other Statutory Information

(I) The Company does not have any Benami property, where any proceeding has been

initiated or pending against the Company for holding any Benami property.

(II) The Company does not have any charges or satisfaction which is yet to be registered

with ROC beyond the statutory period.

(III) The Company has not traded or invested in Crypto currency or Virtual Currency during the financial year.

(IV) the Company has not advanced or loaned or invested funds to any person(s) or entity(is), including foreign entities (Intermediaries) with the understanding that the Intermediary shall: (a) directly or indirectly lend or invest in other persons or entities identified in any manner whatsoever by or on behalf of the company (Ultimate Beneficiaries) or (b) provide any guarantee, security or the like to or on behalf of the Ultimate Beneficiaries.

(V) The Company has not received any fund from any person(s) or entity(is), including foreign entities (Funding Party) with the understanding (whether recorded in writing or otherwise) that the Company shall: (a) directly or indirectly lend or invest in other persons or entities identified in any manner whatsoever by or on behalf of the Funding Party (Ultimate Beneficiaries) or (b) provide any guarantee, security or the like on behalf of the Ultimate Beneficiaries.

(VI) The Company does not have any transaction which is not recorded in the books of accounts that has been surrendered or disclosed as income during the year in the tax assessments under the Income Tax Act, 1961 (such as, search or survey or any other relevant provisions of the Income Tax Act, 1961.

(VII) The Company is not declared as wilful defaulter by any bank or financial institution (as defined under the Companies Act, 2013) or consortium thereof or other lender in accordance with the guidelines on wilful defaulters issued by the Reserve Bank of India

(VIII) The Company does not have any subsidiaries and hence the compliance in respect of the number of layers for its holding in downstream companies prescribed under clause (87) of section 2 of the Companies Act, 2013 read with the Companies (Restriction on number of Layers) Rules, 2017, does not arise

(IX) The Company has not revalued any of its Property, Plant and Equipment (including Right-of-Use Assets) during the year

(X) The figures have been given as '' in thousands (''000s) except Earnings Per Share and

Weighted average number of equity shares outstanding during the year

(XI) The previous year''s figures have been regrouped/reclassified to correspond to current year''s figures.

17. The balance in parties accounts are subject to confirmation and reconciliation, if any, in the opinion of the management all current assets including stock in trade/ sundry debtors and loans and advances in the normal course of business would realize the value atleast to the extent stated in the Balance sheet.

18. Based on information available with Company, there are no outstanding dues to enterprise under MSMED Act, 2006 at the year end.

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Mar 31, 2015

1. GENERAL INFORMATION

FLORA TEXTILES LIMITED is a public limited company incorporate in India under the provisions of the Companies Act, 1956. The company is engaged in the business of Manufacturing of fabric.

2. Terms/Rights attached to Equity shares

The company has only one class of equity shares having par value of Rs10/- per share. Each share holder is eligible for one vote per share. In the event of liquidation, the equity shareholders are eligible to receive the remaining assets of the Company after distribution of all preferential amounts in proportion of their share holding.

3. The balance in parties accounts are subject to confirmation and reconciliation, if any. In the opinion of the management all current assets including stock in trade/sundry debtors and loans and advances in the normal course of business would realize the value atleast to the extent stated in the Balance sheet.

4. Based on information available with Company, there are no outstanding dues to enterprise under MSMED Act 2006, at the year end.

5. RELATED PARTY DISCLOSURE:

1) Name of Related Parties and description of Relationships:

a Holding companies, Subsidiaries & Fellow Subsidiaries Nil

b Associates & Joint Ventures Nil

c Individuals owning control or significant influence over the enterprise, and relatives of any such Nil individual;

d Key management Personnel Mrs Nidhi Gupta [MD] Mr Hemant Kumar Gupta [CFO]

Relatives of Key management Personnel Nil e Enterprises over which any person described in (c) or (d) is able to exercise significant influence Nil

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Mar 31, 2013

1.The Company has not accounted for Deferred Tax in accordance with the Accounting Standard 22 issued by the Institute of Chartered Accountants of India. The deferred tax asset on account of opening unabsorbed loss and unabsorbed depreciation has not been recognised as the Company is of the opinion that there is no virtual certainty of realisation of the same.

2. The balance in parties accounts are subject to confirmation and reconciliation, if any. In the opinion of the management all current assets including stock in trade/sundry debtors and loans and advances in the normal course of business would realize the value atleast to the extent stated in the Balance sheet.

3. Based on information available with Company, there are no outstanding dues to small scale undertakings as at the year end.

4. As notified by Ministry of Corporate Affairs, Revised schedule VI under the Companies act 1956 is applicable to the financial statements for the financial year commencing on or after 1st April 2011. Accordingly the financial statements for the year ended March 2012 are prepared in accordance with the Revised Schedule VI. The amounts and disclosures of the previous year have been reclassified to conform to the requirements of Revised Schedule VI.

5. The Company has only one reportable business segment namely manufacture of fabric.

6.The Company has fulfilled its export obligation against all EPCG Licences and received letters of discharge from JDGFT, Coimbatore against import of machinery .

7. RELATED PARTY DISCLOSURE:

1. RELATED PARTIES :

KEY MANAGEMENT PERSONNEL:

a. Shri V.R.Gupta-Chairman

b. Shri A.K. Gupta - Managing Director

2. RELATED PARTY TRANSACTIONS:

a. NIL

b. NIL

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Mar 31, 2012

A. Terms/Rights attached to Equity shares

The company has only one class of equity shares having par value of Rs10/- per share. Each share holder is eligible for one vote per share. In the event of liquidation, the equity shareholders are eligible to receive the remaining assets of the Company after distribution of all preferential amounts in proportion of their shareholding.

1.The Company has not accounted for Deferred Tax in accordance with the Accounting Standard 22 issued by the Institute of Chartered Accountants of India. The deferred tax asset on account of opening unabsorbed loss and unabsorbed depreciation has not been recognised as the Company is of the opinion that there is no virtual certainty of realisation of the same.

2. The balance in parties accounts are subject to confirmation and reconciliation, if any. !n the opinion of the management all current assets including stock in trade/sundry debtors and loans and advances in the normal course of business would realize the value atleast to the extent stated in the Balance sheet.

3. Based on information available with Company, there are no outstanding dues to small scale undertakings as at the year end.

4. Figures have been rounded to the nearest thousand and decimals thereof.

5. As notified by Ministry of Corporate Affairs, Revised schedule VI under the Companies act 1956 is applicable to the financial statements for the financial year commencing on or after 1st April 2011. Accordingly the financial statements for the year ended March 2012 are prepared in accordance with the Revised Schedule VI. The amounts and disclosures of the previous year have been reclassified to conform to the requirements of Revised Schedule VI.

6. The Company has only one reportable business segment namely manufacture of fabric.

7.The Company is contingently liable to a sum of Rs. 125.84 lakhs for concession in customs duty availed against import of machinery for which the company has undertaken export obligation to the extent of Rs. 2557.06 lakhs due to be performed within a period of 5 years from the date of import. This liability is secured by guarantee executed by the Vysya Bank, Catholic Syrian Bank and Andhra Bank in favour of the Government of India, for which the Company has executed Counter Guarantee to the bankers. The bankers guarantee is secured by a lieu on Fixed Deposits lakhs held by the Company with its bankers.

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Mar 31, 2010

A. OTHER INFORMATION:

a. The estimated amount of contracts remaining to be executed on Capital Accounts and not provided for accounted to Rs. NIL (Previous Year Rs.NIL)

b The Company is contingently liable to a sum of Rs. 125.84 lakhs for concession in customs duty availed against import of machinery for which the company has undertaken export obligation to the extent of Rs. 2557.06 lakhs due to be performed within a period of 5 years from the date of import. This liability is secured by guarantee executed by the Vysya Bank, Catholic Syrian Bank and Andhra Bank in favour of the Government of India, for which the Company has executed Counter Guarantee to the bankers. The bankers guarantee is secured by a lieu on Fixed Deposits of Rs. 24.56 lakhs held by the Company with its bankers.

c. Based on information available with Company, there are no outstanding dues to small scale undertakings as at the year end.

d. SEGMENT INFORMATION

According to the concept of segment reporting, we are of the opinion that the business of the company viz yarn and cloth manufacturing falls under one segment. Hence no separate statement of segment reporting is reported.

e. RELATED PARTY DISCLOSURE:

1. RELATED PARTIES:

KEY MANAGEMENT PERSONNEL:

Shri V.R. Gupta - Chairman

Shri A.K. Gupta - Managing Director

RELATIVES OF KEY MANAGEMENT PERSONNEL:

Relatives of Shri A.K.Gupta

a. Aditya Gupta Son

b. Indira Devi Gupta Wife

c. Nidhi Gupta daughter in law

d. VR Gupta Father

b. Transacting Related Party - M/s Anamika Enterprises Private Limited Relationship - Enterprise in which Relative of KMP i.e

Mrs. Anamika Kajaria has significant influence. Transactions During the Year:

a. Opening Balance (1.04.2009)- , Rs. nil

b. Sales to Anamika Enterprises - Rs. 2805.00

c. Amounts Received from same - Rs. 2805.00

d. Closing Balance (31.03.2010) -Rs. NIL

c. As per the explanations given to us, there are no operating or Financial lease.

f. The Company has non accounted for Deferred Tax in accordance with the Accounting Standard 22 issued by the Institute of Chartered Accountants of India. The deferred tax asset on account of opening unabsorbed loss and unabsorbed depreciation has not been recognised as the Company is of the opinion that there is no virtual certainty of realisation of the same.

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Mar 31, 2003

I) The estimated amount of contracts remaining to be executed on Capital accounts and not provided for accounted to Rs. NIL (Previous year Rs. Nil).

ii) The company is contingently liable in a sum of Rs. 125.84 lakhs for concession in customs duty availed against import of machinery for which the company has undertaken export obligation to the extent of Rs. 2557.06 lakhs due to be performed within a period of 5 years from the date of import. This liability is secured by Guarantee executed by the Vysya Bank, Catholic Syrian Bank and the Andhra Bank in favour of the Government of India, for which the company has executed Counter Guarantee to the Bankers. The bankers guarantee is secured by a lieu on Fixed deposits of Rs. 24.75 Lakhs held by the company with its bankers.

iii) Based on information available with Company, there are no outstanding dues to small scale undertakings as at the year end.

iv) Interest amounting to Rs. 1,2046,105/- has been reversed during the current year as it is no longer payable. The Details of as under:

Interest to Parties Reversed : Rs. 29,06,556

Interest on Term loan with

The Catholic Syrian Bank Ltd. Reversed : Rs. 91, 39, 549

v) SEGMENT INFORMATION :

There exists only Business segment. The Company is organised into two main business segments namely

Yam-Comprising of the manufacture of yarn

Cloth - Comprising of manufacture of cloth

The above business segments have been identified based on

Differing Risks and Returns Differing Production Process Differing Customer Base Internal Financial Reporting System

vi.) The Company has accounted for Deferred Tax in accordance with the Accounting Standard 22 issued by the Institute of Chartered Accounttants of India. The deferred tax asset on account of opeining unabsorbed loss and unabsorbed depreciation has not been recognised as the Company is of the opinion that there is no virtual certainty of realisation of the same.

In the current year there is Deferred tax Benefit on account of depreciation differential to the extent of Rs. 26,43575.00.

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Mar 31, 2002

A. BALANCE SHEET:

a) Term Loan from Catholic Syrian Bank is secured by equitable mortgage of the Companys land and building by deposit of title deeds and also by hypothecation of the plant and machinery, stores and spares acquired under the project for manufacture of fabric. This loan is secured by the personal guarantee of the Chairman, Managing Director and a Director of the Company.

b) Auditors remuneration consisted of Audit fee Rs. 15,000/- towards Tax Audit and Taxation Services Rs. 11,000/-

c) Tax deducted at source out of interest amounted to Rs. 36,410/- (Previous year RS. /-)

B. OTHER INFORMATION:

i) The estimated amount of contracts remaining to be executed on Capital accounts and not provided for accounted to Rs. NIL (Previous year Rs. Nil).

ii) The company is contingently liable in a sum of Rs. 125.84 lakhs for concession in customs duty availed against import of machinery for which the company has undertaken export obligation to the extent of Rs. 2557.06 lakhs due to be performed within a period of 5 years from the date of import. This liability is secured by Guarantee executed by the Vysya Bank, Catholic Syrian Bank and the Andhra Bank in favour of the Government of India, for which the company has executed Counter Guarantee to the Bankers. The bankers guarantee is secured by a lieu on Fixed deposits of Rs. 24.51 Lakhs held by the company with its bankers.

iii) Based on information available with Company, there are no outstanding dues to small scale undertakings as at the year end.

iv) Interest amounting to Rs. 706438/- charged for the year ended 31st March 2001 has been reversed during the current year as it is no longer payable.

v. SEGMENT INFORMATION:

There exists only Business segment. The Company is organised into two main business segments namely Yarn - Comprising of the manufacture of yarn Cloth - Comprising of manufacture of cloth

The above business segments have been identified based on

Differing Risks and Returns

- Differing Production Process

- Differing Customer Base

- Internal Financial Reporting System

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

vi. RELATED PARTY DISCLOSURE

1. RELATED PARTIES : ENTERPRISES:

a. Anamika Enterprises (P) Limited

b. Antique Industries Limited

KEY MANAGEMENT PERSONNEL :

a. Shri. V.R. Gupta - Chairman

b. Shri. A.K. Gupta - Managing Director

RELATIVES OF KEY MANAGEMENT PERSONNEL: Relatives of Shri. A.K. Gupta

a. Shri. Aditya Gupta - Son

b. Shri. P.K. Gupta - Brother

c. Shri. Rajesh Kumar Gupta - Brother

d. Shri. Pushpa Bansal - Sister

q. During the year the company has for the first time accounted for Deferred Tax in accordance with the Accounting Standard 22 issued by the Institute of Chartered Accountants of India. Consequently the Company has recognised in these Financial Statements the Deferred tax Liability amounting to Rs. 1,85,05,690.00 due to Fixed assets value differential and the same is credited to the Profit and Loss Account. The deferred tax asset on account of opening unabsorbed loss and unabsorbed depreciation has not been recognised as the Company is of the opinion that there is no virtual certainty of realisation of the same. In the current year there is Defferred tax Benefit on account of depreciation differential to the extent of Rs. 19,51,113.00.