Notes to Accounts of Consecutive Commodities Ltd.

Mar 31, 2025

x) Provisions, Contingent Liabilities and Contingent Assets

A provision is recognised when the Company has a present obligation (legal or constructive)
as a result of past events and it is probable that an outflow of resources embodying economic
benefits will be required to settle the obligation, in respect of which a reliable estimate can be
made of the amount of obligation. Provisions (excluding gratuity and compensated absences)
are determined based on management’s estimate required to settle the obligation at the
Balance Sheet date. In case the time value of money is material, provisions are discounted
using a current pre-tax rate that reflects the risks specific to the liability. When discounting is
used, the increase in the provision due to the passage of time is recognised as a finance cost.
These are reviewed at each Balance Sheet date and adjusted to reflect the current
management estimates.

Contingent liabilities are disclosed in respect of possible obligations that arise from past
events, whose existence would be confirmed by the occurrence or non-occurrence of one or
more uncertain future events not wholly within the control of the Company. A contingent liability
also arises, in rare cases, where a liability cannot be recognised because it cannot be
measured reliably.

xi) Cash Flows

Cash flows are reported using the indirect method, where by net profit before tax is adjusted
for the effects of transactions of a non-cash nature, any deferrals or accruals of past or future
operating cash receipts or payments and item of income or expenses associated with investing
or financing cash flows. The cash flows from operating, investing and financing activities are
segregated.

Note 33: Disclosures as required under Section 22 of MSMED Act, 2006

The information regarding Micro Small Enterprises has been determined on the basis of
information available with the Company which is as follows:

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 Managing Director of the Company. The Company operates only in
one Business Segment i.e. “Agri Trading Business”, hence does not have any reportable
Segments as per Ind AS 108 “Operating Segments”.

Note 37 : Financial instruments - Fair values and risk management

The fair value of the financial assets are included at amounts at which the instruments
could be exchanged in a current transaction between willing parties other than in a
forced or liquidation sale.

The following methods and assumptions were used to estimate the fair value

a) Fair value of cash and short-term deposits, trade and other short-term receivables, trade
payables, other current liabilities, approximate their carrying amounts largely due to the short¬
term maturities of these instruments

b) Financial instruments with fixed and variable interest rates are evaluated by the Company
based on parameters such as interest rates and individual credit worthiness of the
counterparty. Based on this evaluation, allowances are taken to account for the expected
losses of these receivables.”

A. Accounting classification and fair values

The carrying value and fair value of financial instruments by categories as at 31st March 2025
were as follows:

B. Fair Value Hierarchy

The Company uses the following hierarchy for determining and disclosing the fair value of
financial instruments by valuation technique:

Level 1: quoted (unadjusted) prices in active markets for identical assets or liabilities.

Level 2: other techniques for which all inputs which have a significant effect on the recorded
fair value are observable, either directly or indirectly.

Level 3: techniques which use inputs that have a significant effect on the recorded fair value
that are not based on observable market data.

Financial Risk Management

Risk management framework

A wide range of risks may affect the Company’s business and operational / financial
performance. The risks that could have significant influence on the Company are market risk,
credit risk and liquidity risk. The Company’s Board of Directors reviews and sets out policies
for managing these risks and monitors suitable actions taken by management to minimise
potential adverse effects of such risks on the company’s operational and financial
performance.

Market risk

Market Risk is the risk that the fair value or future cash flows of a financial instrument will
fluctuate because of changes in market prices. Market risk comprises three types of risk:
currency risk, interest rate risk and other price risk.

Currency risk

The Company is not much exposed to currency risk.

Credit risk

Credit risk is the risk of financial loss to the Company if a customer or counterparty to a
financial instrument fails to meet its contractual obligations, and arises principally from the
Company’s trade and other receivables, cash and cash equivalents and other bank balances.
To manage this, the Company periodically assesses financial reliability of customers, taking
into account the financial condition, current economic trends and analysis of historical bad
debts and ageing of accounts receivable. The maximum exposure to credit risk in case of all
the financial instruments covered below is restricted to their respective carrying amount.

For the purpose of the Company’s capital management, capital includes issued equity capital
and all other equity reserves attributable to the equity holders of the Company. The Company
strives to safeguard its ability to continue as a going concern so that they can maximise returns
for the shareholders and benefits for other stake holders. The aim to maintain an optimal
capital structure and minimise cost of capital.

The Company manages its capital structure and makes adjustments in light of changes in
economic conditions and the requirements of the financial covenants. To maintain or adjust
the capital structure, the Company may return capital to shareholders, issue new shares or
adjust the dividend payment to shareholders (if permitted). Consistent with others in the
industry, the Company monitors its capital using the gearing ratio which is total debt divided
by total capital plus total debts.

Note : For the purpose of computing total debt to total equity ratio, total equity includes equity
share capital and other equity and total debt includes long term borrowings, short term
borrowings, long term lease liabilities and short term lease liabilities.

Note 39 : Corporate Social Responsibility

The Provision for CSR are not applicable as per Section 135 of Companies act 2013.

Note 40 : ADDITIONAL REGULATORY INFORMATION REQUIRED BY SCHEDULE III TO
THE COMPANIES ACT, 2013

1. The Company does not have any benami property held in its name. No proceedings have
been initiated on or are pending against the Company for holding benami property under the
Benami Transactions (Prohibition) Act, 1988 (45 of 1988) and Rules made thereunder.

2. The Company has complied with the requirement with respect to number of layers as
prescribed under section 2(87) of the Companies Act, 2013 read with the Companies
(Restriction on number of layers) Rules, 2017.

3. Utilisation of borrowed funds and share premium

(i) The Company has not advanced or loaned or invested funds to any other person(s)
or entity(ies), 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.

(ii) The Company has not received any fund from any person(s) or entity(ies), 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.

4. There is no income surrendered or disclosed as income during the year in tax assessments
under the Income Tax Act, 1961 (such as search or survey), that has not been recorded in the
books of account.

5. The Company has not traded or invested in crypto currency or virtual currency during the
year.

6. The Company does not have any charges or satisfaction of charges which is yet to be
registered with Registrar of Companies beyond the statutory.

7. During the year, the company has not announced any dividend during the year.

8. The Company has not been declared wilful defaulter by any banks.

Note 41 : Prior year comparatives

Previous year’s figures have been regrouped or reclassified, to conform to the current year’s
presentation wherever considered necessary.

For, S K Bhavsar & Co. For & on behalf of the Board of Directors of

Chartered Accountants CONSECUTIVE INVESTMENTS & TRADING CO LTD

Firm Registration No. 145880W

Shivam Bhavsar Jitendrakumar Leuva Vimal Koli

Proprietor (Managing Director/CFO) (Director & CFO)

Membership No. 180566 (DIN: 10865406) (DIN: 10364390)

UDIN: 25180566BMHTTE7019

Shaifali Nehriya

Company Secretary

Place: Ahmedabad Place: Ahmedabad

Date: May 29, 2025 Date: May 29, 2025

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Mar 31, 2024

(a) Rights, preferences and restrictions attached to shares

Equity Shares: The Company has one class of equity shares having a par value of Rs. 10 per share. Each shareholders is eligible for one vote per share held. In the event of liquidation the equity shareholders are eligible to receive the remaining assets of the Company.

20 CONTINGENT LIABILITIES

There are no contingent liabilities as on 31st March 2024

21 SEGMENT REPORTING

There are no reportable segments other than investment activity as per Ind AS 108, “Operating Segment”

22 EMPLOYEE BENEFITS

No provision has been made in respect of gratuity payable as no employee has yet put in qualifying period of service for entitlement of the benefits.

23 There was no balance due to Micro and Small Enterprises as defined under the MSMED act, 2006. Further no interest during the year has been paid or payable under the terms of MSMED Act, 2006.

24 There are no derivative Instruments either for hedging or for speculation outstanding as at 31st March 2024.

There are no long term contracts as on 31st March, 2023 for which there are material forseeable

25 losses.

26 Balances in parties'' accounts are subject to confirmation/ reconciliation. Appropriate adjustments, if any, will be made as and when the balances are reconciled.

27 Any of the assets other than fixed assets and non current investments have the on realisation in the ordinary course of business equal to the amount at which they are stated , subject to amounts not realise on full and final settlement / disposal.

28 There are no amounts due and outstanding to be credited to Investor Education and Protection fund.

29 Capital / other Commitments:

There are no contacts remaining to be executed on capital / other account and not provided for as at 31st March 31, 2024

30 Other additional information pursuant to the provisions of paragraph 5 of Schedule III to the Companies Act, 2013 is either nil or not applicable.

31 Events occuring after the reporting date

No adjusting or significant non-adjusting events have occurred between 31 March 2024 and the date of authorisation of these financial statements.

32 Taxation Current Tax:

No provision for Income Tax (Current Tax) is made in the current year in view of the computation of income resulting in a loss in accordance with the provisions of the Income Tax Act, 1961 and further there is no "book profit" as envisaged in section 115JB of the Income Tax Act.

Deferred Tax:

The Company has unabsorbed depreciation and carried forward losses avaiable for set off under the Income Tax Axt, 1961. However, in view of present uncertainty regarding generation of sufficient future taxable income, net deferred tax assets at the year end including related credit/ debit for the year have not been recognised in the finacials on prudent basis.

The company withdrew from the partnership business in Big Shop on Nove mber 30, 2023. Share of profit from the partnership business up to such date was Rs. 13.31 lacs. The amount outstanding from Big Shop of Rs. 4.85 crore as on such date has been converted into an unsecured loan bearing interest @10% per annum.

(ii) Fair value

The fair values of financial assets and liabilities are included at the amount that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. Methods and assumptions used to estimate the fair values are consistent in all the years. The following methods and assumptions were used to estimate the fair values.

The management assessed that fair values of trade receivables, cash and cash equivalents, security deposits, current borrowings, trade payables and other financial liabilities approximate to their carrying amounts largely due to the short-term maturities of these instruments. Further, management also assessed the carrying amount of certain noncurrent borrowings at floating interest rates which are a reasonable approximation of their fair values and the difference between the carrying amounts and fair values is not expected to be significant.

(iii) Fair value of financial assets and liabilities measured at amortised cost

The carrying amount of financial assets and financial liabilities measured at amortised cost in the financial statements are a reasonable approximation of their fair values since the Company does not anticipate that the carrying amount would be significantly different from the values that would eventually be received or settled.

NOTE -38 FINANCIAL RISK MANAGEMENT

The Company''s principal financial liabilities comprise of borrowings, trade and other payables, lease liabilities and other financial liabilities. The main purpose of these financial liabilities is to finance and support the operations of the Company. The Company''s principal financial assets include trade and other receivables and cash and cash equivalents that derive directly from its operations.

The Company''s business activities are exposed to a variety of risks including liquidity risk, credit risk and market risk. The Company seeks to minimize potential adverse effects of these risks by managing them through a structured process of identification, assessment and prioritization of risks followed by coordinated efforts to monitor, minimize and mitigate the impact of such risks on its financial performance and capital. For this purpose, the Company has laid comprehensive risk assessment and minimization/mitigation procedures and are reviewed by the management from time to time. These procedures are reviewed to ensure that executive management controls risks by way of properly defined framework. The Company does not enter into derivative financial instruments for speculative purposes.

(A) Credit risk

Credit risk refers to risk of financial loss to the Company if customers or counterparties fail to meet their contractual obligations. The Company is exposed to credit risk from its operating activities (mainly trade receivables).

Credit risk management Trade receivables

Trade receivables consist of large number of customers. In order to mitigate the risk of financial loss from defaulters, the Company has an ongoing credit evaluation process in respect of customers who are allowed credit period. In respect of walk-in customers the Company does not allow any credit period and therefore, is not exposed to any credit risk.

In general, it is presumed that credit risk has significantly increased since initial recognition if the payments are more than 90 days past due. The Company has a policy to provide for specific receivables which are overdue for a period over 180 days. On account of adoption of Ind AS 109, the Company also uses expected credit loss model to assess the impairment loss or reversal thereof.

(B) Liquidity risk

Liquidity risk implies that the Company may not be able to meet its obligations associated with its financial liabilities. The Company manages its liquidity risk on the basis of the business plan that ensures that the funds required for financing the business operations and meeting financial liabilities are available in a timely manner and in the currency required at optimal costs. The management regularly monitors rolling forecasts of the Company''s liquidity position to ensure it has sufficient cash on an ongoing basis to meet operational fund requirements.

Additionally, the Company has committed fund and non-fund based credit lines from banks which may be drawn anytime based on Company''s fund requirements. The Company maintains a cautious liquidity strategy with positive cash balance and undrawn bank lines throughout the period.

Note - 39

No proceedings have been initiated or is pending against the Company for holding any benami property under the Benami Transaction (Prohibition) Act, 1988 (45 of 1988) and Rules made there under.

Note - 40

The Company has not identified any transaction with Companies struck off under section 248 of the Companies Act, 2013 or section 560 of the Companies Act, 1956.

Note - 41

All transactions have been recorded in the books of account and there are no unrecorded income that have been disclosed during the year in the tax assessments under the Income-Tax Act, 1961. Moreover there are no unrecorded income and related assets pertaining to previous years.

Note - 42

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

Note 43

The Company have accounting software for maintaining its books of account for the financial year ended March 31, 2024. However, the accounting software doesn''t have a feature of recording audit trail (edit log) facility and the same wasn''t operating throughout the year for all relevant transactions recorded in the software.

Note-44

Figures relating to previous periods have been rearranged/recompanied wherever considered necessary to make them comparable with the current period''s figures.

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Mar 31, 2015

1. Contingent liability in respect of disputed Income Tax Demand of Rs. 2039963.00 for A.Y. 2011-12 (Previous Year Rs. 2039963.00)

2. No provision has been made in respecty of gratuity payable as no employee has yet put In qualifying period of service for entitlement of the benefits.

3. Taxation Current Tax:

No provision for Income Tax (Current Tax) is made in the current year in view of the computation of income resulting in a loss in accordance with the provision of the Income Tax Act, 1961, and further, there is no "book profit", as envisaged in Section 115JB of the Income Tax Act because of brought forward losses as per books or account

Deferred Tax:

The Company has unabsorbed depreciation and carried forward losses available for set-off under the Income Tax Act, 1961. However, in view of present uncertainty regarding generation of sufficient future taxable income, net deferred tax assets at the year end including related credit / debit for the year have not been recognized In these accounts on prudent basis.

4. The Company has mainly one reportable business and geographical segment and hence no further disclosure is required under Accounting Standard (AS)17 on Segment Reporting issued by the Institute of Chartered Accountants

5. There was no balance due to Micro and Small Enterprises as defined under the MSMED Act, 2006. Further no interest during the year has been paid or payable under the terms of MSMED Act, 2006.

6. There are no derivative instruments either for hedging or for speculation outstanding as at 31st March 2015.

7. There are no long term contracts as on 31st March, 2015 for which there are any material foreseeable losses.

8. Balances in parties accounts are subject to confirmation / reconciliation. Appropriate adjustments, If any, will be made as and when the balances are reconciled.

9. Any of the assets other than fixed assets and non current investments have the value on realization in the ordinary course of business equal to the amount at which they are stated, subject to amounts not realized on full and final settlement / disposal.

10. There are no amounts due and outstanding to be credited to Investor Education and Protection Fund.

11. in view of Accounting Standard 28 on Impairment of Assets issued by the Institute of Chartered Accountants of India, the Company has reviewed its fixed assets and does not expect any loss as on 31st March 2015 on account of impairment.

12. Depreciation of Rs. 191 on account of assets whose useful life is already exhausted on April 01, 2014 has been adjusted against Retained earnings pursuant to adoption of estimated useful life of fixed assets as stipulated by Schedule II of Companies Act, 2013.

13. Related Party Disclosures

Party disclosures as required by Accounting Standard 18 "Related Party Disclosures"

A. List of Related Parties (As identified by the Management)

(i) Key Management Personnel:

Mr. Vijay Kumar Jain

(ii) Individuals having control or significant over the company by reason of voting power, and their relatives:

Mrs. Kiran Devi Jain

Mr. Vijay Kumar Jain

Mrs. Chandrakala Jain

Mr. Niraj Jain

Mr. Santosh Kumar Jain

Nirmal Kumar Jain (HUF) (Hi) Entities over which control is exercised by individuals listed in (ii) above

Dhanlaxml Resources (P) Ltd

M.Nirmal Kumar (P) Ltd

P.S. Synthetics (P) Ltd

Jain Holdings (P) Ltd

Mod Mind Consultancy (P) Ltd

Saraogi Holdinds (P) Ltd

Trident India Ltd

Big Shop

14. prior year comparatives

Previous year's figures have been regrouped/reclassified wherever necessary to correspond with the current year's classification / disclosure.

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Mar 31, 2014

1. Terms/rights attached to equity shares

The Company has only one class of equity shares having a par value of Rs. 10 per share. Each holder of equity shares is entitled to one vote per share. The Company declares and pays dividends in Indian Rupees. The dividend, if any, proposed by the Board of Directors is subject to the approval of the shareholders in the ensuing Annual General Meeting.

In the event of liquidation of the Company, the holders of equity shares will be entitled to receive remaining assets of the company, after distribution of all preferential amounts, if any. The distribution will be in proportion to the number of equity shares held by the shareholders.

2. Contingent liability in respect of disputed Income Tax Demand Rs. 2039963.00 for A.Y. 2011-12 (Previous year Rs. 2039963.00)

3. The Company does not have any employee and hence the provisions of the Payment of Gratuity Act 1972 are not applicable.

4. Taxation

Current Tax:

No provision for Income Tax (Current Tax) is made in the current year in view of the computation of income resulting in a loss in accordance with the provision of the Income Tax Act, 1961, and further, there is no "book profit", as envisaged in section 115JB of the Income Tax Act because of brought forward losses as per books or account.

Deferred Tax:

The Company has unabsorbed depreciation and carried forward losses available for set-off under the Income Tax Act, 1961. However, in view of present uncertainty regarding generation of sufficient future taxable Income, net deferred tax assets at the year end Including related credit / debit for the year have not been recognized in these accounts on prudent basis.

5. As the Company is not carrying any operations, there are no reportable segments, as required by AS- 17 Segment Reporting''.

6. There was no balance due to Micro and Small Enterprises as defined under the MSMED Act, 2006. Further no interest during the year has been paid or payable under the terms of MSMED Act, 2006.

7. Debts over six months amounting to Rs. 6318.30 (Previous year Rs. 6318.30) are long overdue but in the opinion of the management, they are fully recoverable and the same hove been classified as good.

8. Balances In parties accounts are subject to confirmation / reconciliation. Appropriate adjustments, If any, will be made as and when the balances are reconciled.

9. Any of the assets other than fixed assets and non current investments have the value on realisation in the ordinary course of business equal to the amount at which they are stated, subject to amounts not realised on full and final settlement / disposal.

10. There are no amounts due and outstanding to be credited to Investor Education and Protection Fund.

11. In view of Accounting Standard 28 on Impairment of Assets issued by the Institute of Chartered Accountants of India, the Company has reviewed its fixed assets and not expect any loss as on 31st March 2014 on account of impairment.

12. Prior year comparatives

Previous year''s figures have been regrouped/reclassified wherever necessary to correspond with the current year''s classification / disclosure.

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Mar 31, 2013

1. Terms/rights attached to equity shares

The Company has only one class of equity shares having a par value of Rs. 10 per share. Each holder of equity * shares is entitled to one vote per share. The Company declares and pays dividends in Indian Rupees. The dividend, if any, proposed by the Board of Directors is subject to the approval of the shareholders in the ensuing Annual General Meeting.

In the event of liquidation of the Company, the holders of equity shares will be entitled to receive remaining assets of the company, after distribution of all preferential amounts, if any. The distribution will be in proportion to the number of equity shares held by the shareholders.

2. Contingent liability in respect of disputed Income Tax Demand Rs. 234840/- (Previous year Rs. 234840/-)

3. The Company does not have any employee and hence the provisions of the Payment of Gratuity Act 1972 are not applicable.

4. Taxation

Current Tax:

No provision for Income Tax (Current Tax) is made in the current year in view of the computation of income resulting in a loss in accordance with the provision of the Income Tax Act, 1961, and further, there is no "book profit", as envisaged in section 115JB of the Income Tax Act because of brought forward losses as per books or account.

Deferred Tax:

The Company has unabsorbed depreciation and carried forward losses available for set-off under the Income Tax Act, 1961. However, in view of present uncertainty regarding generation of sufficient future taxable Income, net deferred tax assets at the year end Including related credit / debit for the year have not been recognized in these accounts on prudent basis.

5. As the Company is not carrying any operations, there are no reportable segments, as required by AS- 17 Segment Reporting''.

6. There was no balance due to Micro and Small Enterprises as defined under the MSMED Act, 2006. Further no interest during the year has been paid or payable under the terms of MSMED Act, 2006.

7. Debts over six months amounting to Rs. 6318.30 (Previous year Rs. 6318.30) are long overdue but in the opinion of the management, they are fully recoverable and the same hove been classified as good.

8. Balances In parties accounts are subject to confirmation / reconciliation. Appropriate adjustments, If any, will be made as and when the balances are reconciled.

9. Any of the assets other than fixed assets and non current investments have the value on realisation in the ordinary course of business equal to the amount at which they are stated, subject to amounts not realised on full and final settlement / disposal.

10. There are no amounts due and outstanding to be credited to Investor Education and Protection Fund.

11. In view of Accounting Standard 28 on Impairment of Assets issued by the Institute of Chartered Accountants of India, the Company has reviewed its fixed assets and not expect any loss as on 31st March 2012 on account of impairment.

12. Prior year comparatives

Previous year''s figures have been regrouped/reclassified wherever necessary to correspond with the current year''s classification / disclosure.

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Mar 31, 2012

1. Terms/rights attached to equity shares

The Company has only one class of equity shares having a par value of Rs. 10 per share. Each holder of equity * shares is entitled to one vote per share. The Company declares and pays dividends in Indian Rupees. The dividend, if any, proposed by the Board of Directors is subject to the approval of the shareholders in the ensuing Annual General Meeting.

In the event of liquidation of the Company, the holders of equity shares will be entitled to receive remaining assets of the company, after distribution of all preferential amounts, if any. The distribution will be in proportion to the number of equity shares held by the shareholders.

2. Contingent liability in respect of disputed Income Tax Demand Rs. 234840/- (Previous year Rs. 234840/-)

3. The Company does not have any employee and hence the provisions of the Payment of Gratuity Act 1972 are not applicable.

4. Taxation

Current Tax:

No provision for Income Tax (Current Tax) is made in the current year in view of the computation of income resulting in a loss in accordance with the provision of the Income Tax Act, 1961, and further, there is no "book profit", as envisaged in section 115JB of the Income Tax Act because of brought forward losses as per books or account.

Deferred Tax:

The Company has unabsorbed depreciation and carried forward losses available for set-off under the Income Tax Act, 1961. However, in view of present uncertainty regarding generation of sufficient future taxable Income, net deferred tax assets at the year end Including related credit / debit for the year have not been recognized in these accounts on prudent basis.

5. As the Company is not carrying any operations, there are no reportable segments, as required by AS- 17 Segment Reporting''.

6. There was no balance due to Micro and Small Enterprises as defined under the MSMED Act, 2006. Further no interest during the year has been paid or payable under the terms of MSMED Act, 2006.

7. Debts over six months amounting to Rs. 6318.30 (Previous year Rs. 6318.30) are long overdue but in the opinion of the management, they are fully recoverable and the same hove been classified as good.

8. Balances In parties accounts are subject to confirmation / reconciliation. Appropriate adjustments, If any, will be made as and when the balances are reconciled.

9. Any of the assets other than fixed assets and non current investments have the value on realisation in the ordinary course of business equal to the amount at which they are stated, subject to amounts not realised on full and final settlement / disposal.

10. There are no amounts due and outstanding to be credited to Investor Education and Protection Fund.

11. In view of Accounting Standard 28 on Impairment of Assets issued by the Institute of Chartered Accountants of India, the Company has reviewed its fixed assets and not expect any loss as on 31st March 2012 on account of impairment.

12. Prior year comparatives

Previous year''s figures have been regrouped/reclassified wherever necessary to correspond with the current year''s classification / disclosure.

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Mar 31, 2011

1. Contingent liability in respect of disputed Income Tax Demand Rs. 234840 (Previous year Rs. - 234840)

2. The Company does not have any employee and hence the provisions of the Payment of Gratuity Act, 1972 are not applicable.

3. Taxation

4. Current Tax:

In view of book profits and no taxable profits, as per computation of income, the provision for tax has been made as per MAT under section 115 JB of the Income tax Act 1961.

5. Deferred Tax:

The Company has unabsorbed depreciation and carried forward losses available for set-off under the Income Tax Act, 1961. However, in view of present uncertainty regarding generation of sufficient future taxable income, net deferred tax assets at the year end including related credit / debit for the year have not been recognized in these accounts on prudent basis.

6. The Company has mainly one reportable business and geographical segment and hence no further disclosure is required under Accounting Standard (AS) 17 on Segment Reporting issued by the Institute of Chartered Accountants of India.

7. The Company has no amounts due to any micro, small and medium enterprises as defined under section 7(i)(a) / 7(i)(b) / 7(i)(c) of Micro, Small and Medium Enterprises Development Ac, 2006 as on March 31, 2011. Further, no interest during the year has been paid or payable under the terms of the Micro, Small and Medium Enterprises Development Act, 2006

8. Debts over six months amounting to Rs. 6318.30 (Previous year Rs. 6318.30) are long overdue but in the opinion of the management, they are fully recoverable and the same have been classified as good.

9. Balances with Debtors, Creditors and for Loans and Advances are subject to confirmations form the respective parties.

10. The Currant Assets, Loans and Advances are stated at the value, which in the opinion of the board, are realizable in the ordinary course of the business. Current Liabilities and Provision are stated at the value payable in the ordinary course of the business.

11. The information pursuant to Clause 4, 4-A, 4-C and 4-D of Part II of Schedule VI to the Companies Act, 1956 have not been furnished as these are not applicable the the Company.

12. Interest received is gorss of tax deducted at source of Rs, 0.00 (Previous year Rs.7756.00)

13. There are no amounts due and outstanding to be credited to Investor Education and Protection Fund.

14. In view of Accounting Standard 28 on Impairment of Assets issued by the Institute of Chartered

15. Accountants of India, the Company has reviewed its fixed assets and does not expect any loss as on 31sl March 2011 on account of impairment.

16. Related Party Disclosures

Related party disclosures as required by Accounting Standard 18 "Related Party Disclosures"

17. List of Related Parties (As identified by the Management)

i. Individuals holding 20% or more voting rights.

Vijay Kumar Jain Smt. Kiran Devi Jain

ii. Key Management personnel and their relatives. Directors : Vijay Kumar Jain

Relatives :

Santosh Kumar Jain (HUF) Smt. Kiran Devi Jain Smt. Chandrakala Jain Niraj Jain Santosh Kumar Jain

iii. Enterprises owned or significantly influenced by key management personnel or their relatives. M. Nirmal Kumar (P) Limited

18. Schedules 1 to 10 are annexed to and form an integral part of the Balance Sheet and Profit and Loss Account.

19. Previous year's figures have been re-grouped wherever necessary.

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Mar 31, 2010

1.Contingent liablity in respect of disputed Tax Demand Rs.234840

2. The Company does not have any employee and hence the provisions of the Payment of Gratuity Act, 1972 are not applicable.

3. Taxation Current Tax:

In view of book profits and no taxable profits, as per computation of income, the provision for tax has been made as per MAT under section 115 JB of the Income tax Act 1961.

Deferred Tax:

The Company has unabsorbed depreciation and carried forward losses available for set-off under the Income Tax Act, 1961. However, in view of present uncertainty regarding generation of sufficient future taxable income, net deferred tax assets at the year end including related credit / debit for the year have not been recognized in these accounts on prudent basis.

4. The Company has mainly one reportable business and geographical segment and hence no further disclosure is required under Accounting Standard (AS) 17 on Segment Reporting issued by the Institute of Chartered Accountants of India.

5. The Company has no amounts due to any micro, small and medium enterprises as defined under section 7(i)(a) / 7(i)(b) / 7(i)(c) of Micro, Small and Medium Enterprises Development Ac, 2006 as on March 31, 2010. Further, no interest during the year has been paid or payable under the terms of the Micro, Small and Medium Enterprises Development Act, 2006

6. Debts over six months amounting to Rs. 6318.30 (Previous year Rs. 6318.30) are long overdue but in the opinion of the management, they are fully recoverable and the same have been classified as good.

7. Balances with Debtors, Creditors and for Loans and Advances are subject to confirmations form the respective parties.

8. The Currant Assets, Loans and Advances are stated at the value, which in the opinion of the board, are realizable in the ordinary course of the business. Current Liabilities and Provision are stated at the value payable in the ordinary course of the business.

9. The information pursuant to Clause 4, 4-A, 4-C and 4-D of Part II of Schedule VI to the Companies Act, 1956 have not been furnished as these are not applicable the the Company.

10. Interest received is gorss of tax deducted at source of Rs. 7756.00 (Previous year Rs.NIL)

11. There are no amounts due and outstanding to be credited to Investor Education and Protection Fund.

In view of Accounting Standard 28 on Impairment of Assets issued by the Institute of Chartered

12. Accountants of India, the Company has reviewed its fixed assets and does not expect any loss as on 31st March 2010 on account of impairment.

13. Related Party Disclosures

Related party disclosures as required by Accounting Standard 18 "Related Party Disclosures"

a. List of Related Parties (As identified by the Management)

i. Individuals holding 20% or more voting rights.

Vijay Kumar Jain Smt. Kiran Devi Jain

ii. Key Management personnel and their relatives.

Directors : Santosh Kumar Jain

Relatives :

Santosh Kumar Jain (HUF) Smt. Kiran Devi Jain Smt. Chandrakala Jain Niraj Jain Vijay Kumar Jain

iii. Enterprises owned or significantly influenced by key management personnel or their relatives. Big Shop M. Nirmal Kumar (P) Limited

Note :

1. No amount has been written off or written back during the year in respect of debts due from or

14. Schedules 1 to 10 are annexed to and form an Integral part of the Balance Sheet and Profit and Loss Account.

15. Previous year''s figures have been re-grouped wherever necessary.