Notes to Accounts of Gothi Plascon (India) Ltd.

Mar 31, 2019

Note 1. The Company Overview

Gothi Plascon (India) Limited (or the “Company”), is a pioneer in real estate has excelled over the years to offer an array of professional services in the realty business.

Gothi Plascon (India) Limited is a public limited company incorporated and domiciled in India. The address of its registered office is , Gothi Plascon (India) Limited, 17/5B,1 A ,Vazhudavur Road, Kurumbapet, Puducherry - 605009, India. The company has its primary listing with BSE Ltd.

(Bombay Stock Exchange) .Company is Engaged in business of renting of Immovable Properties.

Note 2. Basis of preparation of financial statements

I. Statement of compliance and basis of preparation

These financial statements are prepared in accordance with Indian Accounting Standards (“Ind AS”), the provisions of the Companies Act, 2013 (“the Companies Act”), as applicable and guidelines issued by the Securities and Exchange Board of India (“SEBI”). The Ind AS are prescribed under Section 133 of the Act read with Rule 3 of the Companies (Indian Accounting Standards) Rules, 2015 and Companies (Indian Accounting Standards) Amendment Rules, 2016

Accounting policies have been applied consistently to all periods presented in these financial statements.

The financial statements correspond to the classification provisions contained in Ind AS 1, “Presentation of Financial Statements”. For clarity, various items are aggregated in the statements of profit and loss and balance sheet. These items are disaggregated separately in the notes to the financial statements, where applicable All amounts included in the financial statements are reported in actual denominations of Indian rupees except share and per share data, unless otherwise stated. Due to rounding off, the numbers presented throughout the document may not add up precisely to the totals and percentages may not precisely reflect the absolute figures. Previous year figures have been regrouped/re-arranged, wherever necessary.

II. Basis of measurement

These financial statements have been prepared on a historical cost convention and on an accrual basis.

III. Use of estimates and judgment

The preparation of the financial statements in conformity with Ind AS requires management to make judgments, estimates and assumptions that affect the application of accounting policies and the reported amounts of assets, liabilities, income and expenses. Actual results may differ from those estimates.

Estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimates are revised and in any future periods affected. In particular, information about significant areas of estimation, uncertainty and critical judgments in applying accounting policies that have the most significant effect on the amounts recognised in the financial statements are included in the following notes:

a. Revenue Recognition

Revenue has been measured based on fair value of the consideration received/receivable.

b. Income Tax

The major tax jurisdiction for the Company is in India. Significant judgments are involved in determining the provision for income taxes including judgment on whether tax positions are probable of being sustained in tax assessments. A tax assessment can involve complex issues, which can only be resolved over extended time periods. Income Taxes have been calculated based on The Income Tax Act, 1961 read with Rules there under.

c. Deferred Tax

Deferred tax is recorded on temporary differences between the tax bases of assets and liabilities and their carrying amounts, at the rates that have been enacted or substantively enacted at the reporting date. The ultimate realization of deferred tax assets is dependent upon the generation of future taxable profits during the periods in which those temporary differences and tax loss carryforwards become deductible. The Company considers the expected reversal of deferred tax liabilities and projected future taxable income in making this assessment. The amount of the deferred tax assets considered realisable, however, could be reduced in the near term if estimates of future taxable income during the carry-forward period are reduced.

d. Useful lives of property, plant and equipment

The Company depreciates property, plant and equipment on a straight-line basis over estimated useful lives of the assets. The charge in respect of periodic depreciation is derived based on an estimate of an asset’s expected useful life and the expected residual value at the end of its life. The lives are based on historical experience with similar assets as well as anticipation of future events, which may impact their life, such as changes in technology. The estimated useful life is reviewed at least annually.

IV. Current and Non Current classification

All assets and liabilities have been classified as current or non-current as per the Company’s normal operating cycle (twelve months) and other criteria set out in the Schedule III to the Act.

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Mar 31, 2016

1. Average percentile increase already made in the salaries of employees other than the managerial personnel in the last financial year and its comparison with the percentile increase in the managerial remuneration and justification thereof - Refer point 6 above

2. Comparison of the each remuneration of the Key Managerial Personnel against the performance of the company - Refer point 6 above

3. The key parameters for any variable component of remuneration availed by the director No variable paid

4. The ratio of the remuneration of the highest paid director to that of the employees who are not directors but receive remuneration in excess of the highest paid director during the year NIL

5. Affirmation that the remuneration is as per the remuneration policy of the company YES

6. If employed throughout the financial year, was in receipt of remuneration for that year which, in the aggregate, was not less than sixty lakh rupees NIL

7. If employed throughout the financial year or part thereof, was in receipt of remuneration in that year which, in the aggregate, or as the case may be, at a rate which, in the aggregate, is in excess of that drawn by the managing director or whole-time director or manager and holds by NIL

8. Provided that the particulars of employees posted and working in a country outside India, not being directors or their relatives, drawing more than sixty lakh rupees per financial year or five lakh rupees per month, as the case may be, as may be decided by the Board, shall not be circulated to the members in the Board''s report, but such particulars shall be filed with the Registrar of Companies while filing the financial statement and Board Reports NIL

a) TERMS/RIGHTS ATTACHED TO EQUITY SHARES

1. The company has only one class of equity shares having par value of 10 per share. Each holder of equity share is . entitled to one vote per share . The company declares and pays dividends in Indian rupees. The dividend proposed by the Board of directors is subject to the approval of the shareholders in the ensuring Annual General Meeting.

During the year ended 31 March 2016 , the amount of per share dividend recognised as distributions to equity shareholders was Nil.(31 March 2015 : Nil)

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 proportion to the number of equity shares held by the shareholders.

Aggregate number of bonus shares issued, shares issued for consideration other than cash and shares bought back during the period of five years immediately proceeding the reporting date is Nil.

Shares reserved for issue under options and contracts/commitments for the sale of shares/disinvestments are Nil. Shares held by holding/ultimate holding company and/or their subsidiaries/associates are Nil.

9. EARNINGS PER SHARE

Basic earnings per share are calculated by dividing the net profit or loss for the period attributable to equity shareholders (after deducting preference dividends and attributable taxes) by the weighted average number of equity shares outstanding during the period. For the purpose of calculating diluted earnings per share, the net profit or loss for the period attributable to equity shareholders and the weighted average number of shares outstanding during the period are adjusted for the effects of all dilutive potential equity shares.

10. SEGMENT REPORTING

The company''s business consists of one primary reportable business segment of rental income, hence no separate disclosures pertaining to attributable revenues, profits, assets, liabilities and capital employed are given as required under Accounting Standard – 17.

11. Leases

The Company has leased out its building on operating lease. There are no non cancellable leases.

12. Previous year figures have been regrouped wherever necessary to conform to current years classification.

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Mar 31, 2015

1. CORPORATE INFORMATION

Gothi Plascon (India) Limited (the company) is a public company domiciled in India and incorporated under the provisions of the Companies Act, 1956. Its shares are listed on one stock exchange in India.

2. BASIS OF ACCOUNTING

The financial statements of the company have been prepared in accordance with the generally accepted accounting principles in India (Indian GAAP). The company has prepared these financial statements to comply in all material respects with the accounting standards notified under section 133 of the Companies Act 2013, read together with paragraph 7 of the Companies (Accounts) Rules 2014. The financial statements have been prepared on an accrual basis and under the historical cost convention The accounting policies adopted in the preparation of financial statements are consistent with those of previous year

3.share capital

a) TERMS/RIGHTS ATTACHED TO EQUITY SHARES

1. The company has only one class of equity shares having par value of 10 per share. Each holder of equity share is . entitled to one vote per share. The company declares and pays dividends in Indian rupees. The dividend proposed by the Board of directors is subject to the approval of the shareholders in the ensuring Annual General Meeting. During the year ended 31 March 2015, the amount of per share dividend recognized as distributions to equity shareholders was Nil.(31 March 2014: Nil)

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 proportion to the number of equity shares held by the shareholders.

4. SEGMENT REPORTING

The company's business consists of one primary reportable business segment of rental income, hence no separate disclosures pertaining to attributable revenues, profits, assets, liabilities and capital employed are given as required under Accounting Standard - 17.

5. RELATED PARTY TRANSACTIONS

Related parties with whom transactions have taken place:

Sl.No. Name Relationship

1 Gothi Impex Enterprises where Director has significant control or influence

2 Sanjay Gothi HUF Enterprises where key management personnel has significant control or influence

3 Sumitra Gothi Relative of Director

4 Sanjana Gothi Relative of Director

5 Pranay Gothi Relative of Director

6 Parasmal Gothi Director

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Mar 31, 2014

1. CORPORATE INFORMATION

Gothi Plascon (India) Limited (the company) is a public company domiciled in India and incorporated under the provisions of the Companies Act, 1956. Its shares are listed on one stock exchange in India. The company was engaged in the manufacturing and selling of plastic items. The company caters to domestic markets only. Company has stopped its operation of manufacturing and selling of plastic items and earning rental income.

2. BASIS OF ACCOUNTING

The financial statements of the company have been prepared in accordance with generally accepted accounting principles in India (Indian GAAP). The company has prepared these financial statements to comply in all material respects with the accounting standards notified under the Companies

(Accounting Standards) Rules, 2006, (as amended) and the relevant provisions of the Companies Act, 1956 as per revised Schedule VI. The financial statements have been prepared on an accrual basis and under the historical cost convention.

The accounting policies adopted in the preparation of financial statements are consistent with those of the previous year.

A) CONTINGENT LIABILITIES

A contingent liability is a possible obligation that arises from past events whose existence will be confirmed by the occurrence or non-occurrence of one or more uncertain future events beyond the control of the company or a present obligation that is not recognized because it is not probable that on outflow of resources will be required to settle the obligation. A contingent It ability also arises in extremely rare cases where there is a liability that cannot be recognized because it cannot be measured reliably. The company does not recognized a contingent liability but discloses its existence in the financial statements.

B) FOREIGN CURRENCY TRANSACTIONS Expenditure in Foreign Currency - Nil Earning in Foreign Currency - Nil

C) EBITDA

As permitted by the Guidance Note on the Revised Schedule Vlto the Companies Act, 1956, the company has elected to present earnings before interest, tax, depreciation and amortization (EBITDA) as a separate line item on the face of the statement of profit and loss. The company measures EBITDA on the basis of profit/ (loss) from continuing operations. In its measurement, the company does not include depreciation and amortization expense, finance costs and tax expense.

i) PROVIDENT FUND No provident fund is payable by company. In the opinion of the Board of Directors, Current Assets, Loans and Advances have a value on realization, in the ordinary course of business, at least equal to the amount at which they are stated.

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Mar 31, 2013

1. Business Loss and unabsorbed depreciation carried over as per Income Tax Act up to 31.03.2013 is Rs 6,50b65,l 15 which will be adjusted against profits of the Company in subsequent years. Continent tax benefits out of such adjustment is not accounted for as the Company is not anticipating the profit to the extent of accumulated losses.

2. Exceptional items disclosed on the race of Statement of Profit & Loss represents the loss on sale of assets amounting to Rs 44,00,278

3. Previous year figures have been regrouped wherever necessary.

4. CORPORATE INFORMATION

Gothi Plascon (India) Limited (the company) is a public company domiciled in India and incorporated under the provisions of the Companies Act, 1956. Its shares are listed on one stock exchange in India. The company is engaged in the manufacturing and selling of plastic items. The company caters to domestic markets only.

5. BASIS OF ACCOUNTING

The financial statements of the company have been prepared in accordance with generally accepted accounting principles in India (Indian GAAP). The company has prepared these financial statements to comply in all material respects with the accounting standards notified under the Companies (Accounting Standards) Rules, 2006, (as amended) and the relevant provisions of the Companies Act, 1956 as per revised Schedule VI. The financial statements have been prepared on an accrual basis and under the historical cost convention.

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Mar 31, 2012

1. Contingent Liabilities

A contingent liability is a possible obligation that arises from past events whose existence will be confirmed by the occurrence or non-occurrence of one or more uncertain future events beyond the control of the company or a present obligation that is not recognized because it is not probable that an outflow of resources will be required to settle the obligation. A contingent liability also arises in extremely rare cases where there is a liability that cannot be recognized because it cannot be measured reliably. The company does not recognize a contingent liability but discloses its existence in the financial statements.

2. Expenditure in Foreign Currency - Nil

Earning in Foreign Currency - Nil

3. FOREIGN EXCHANGE TRANSACTIONS: - Nil

4. PROVIDENT FUND:

Company's contribution to provident fund is accounted on accrual basis and is charges to revenue account.

5. In the opinion of the Board of Directors, Sundry debtors, Current assets, Loans and Advances have a value on realization, in the ordinary course of business, at least equal to the amount at which they are stated.

6. The company is yet to receive confirmations from parties in respect of balances outstanding in sundry debtors and creditors.

7. Long Term borrowings

Aggregate number of bonus shares issued, shares issued for consideration other than cash and snares bought back during the period of five years immediately preceding die reporting date is Nil Shares reserved for issue under options and contracts/commitments fix the sale of shares/disinvestment are Nil

Shares held by holding/ultimate holding company and/or their subsidiaries/associates are Nil

There are no unpaid calls on any shares and mere are no forfeited shares.

8. SEGMENT REPORTING:

The Company's business consists of one primary reportable business segment of manufacturing and sale of Plastic items with manufacturing facility at single place and consists of major revenue on account of domestic sales, hence no separate disclosures pertaining to attributable revenues, profits, assets, liabilities and capital employed are given as required under Accounting Standard -17.

9. EARNINGS PER SHARE (EPS)

The earnings considered in ascertaining the Company's Earnings per share comprise of net profit after tax. The number of shares used in computing Basic earnings per share is the weighted average number of shares outstanding during the year. The numerators and denominators used to Calculate earnings per share.

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Mar 31, 2011

1. Previous Year figures have been rearranged and regrouped wherever necessary.

2. Loss on Sale of Fixed Assets Accounted NIL

3. Directors have not withdrawn managerial remuneration due to loss in company although they are entitled to, even in the case of loss except Sri. K. Desikan who has withdrawn Rs. 2,28,600/-

4. FOREIGN EXCHANGE TRANSACTIONS:-Nil

5. PROVIDENT FUND:

Companys contribution to provident fund is accounted on accrual basis and is charges to revenue account.

6. In the opinion of the Board of Directors, Sundry debtors, Current assets, Loans and Advances have a value on realization, in the ordinary course of business, at least equal to the amount at which they are stated.

7. The company is yet to receive confirmations from parties in respect of balances outstanding in sundry debtors and creditors.

8. SEGMENT REPORTING:

The Companys business consists of one primary reportable business segment of manufacturing and sale of Plastic items with manufacturing facility at single place and consists of major revenue on account of domestic sales, hence no separate disclosures pertaining to attributable revenues, profits, assets, liabilities and capital employed are given as required under Accounting Standard -17.

9. As there is loss, no tax is deferred.

10. Business Loss and Unabsorbed depreciation being carried over as per Income Tax Act up to 31/03/2011 is Rs. 807.80. Lakhs, which will be adjusted against profits of company in subsequent year. Contingent Tax benefits out of such adjustment is not accounted for as there is very rare chances of future tax liability.

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Mar 31, 2010

1. Previous Year figures have been rearranged and regrouped wherever necessary.

2. Loss on Sale of Fixed Assets Accounted Rs. 24,75,937.26/-

3. Directors have not withdrawn managerial remuneration due to loss in company although they are entitled to, even in the case of loss except Sri. K. Desikan who has withdrawn Rs. 2,01,600/-

4. FOREIGN EXCHANGE TRANSACTIONS: - Nil

5. PROVIDENT FUND:

Companys contribution to provident fund is accounted on accrual basis and is charges to revenue account.

6. In the opinion of the Board of Directors, Sundry debtors, Current assets, Loans and Advances have a value on realization, in the ordinary course of business, at least equal to the amount at which they are stated.

7. The company is yet to receive confirmations from parties in respect of balances outstanding in sundry debtors and creditors.

8. SEGMENT REPORTING:

The Companys business consists of one primary reportable business segment of manufacturing and sale of Plastic items with manufacturing facility at single place and consists of major revenue on account of domestic sales, hence no separate disclosures pertaining to attributable revenues, profits, assets, liabilities and capital employed are given as required under Accounting Standard -17.

9. As there is loss, no tax is deferred.

10. Business Loss and Unabsorbed description being carried over as per Income Tax Act up to 31/03/2010 is Rs.1,044.45 Lakhs, which will be adjusted against profits of company in subsequent year. Contingent Tax benefits out of such adjustment is not accounted for.