Notes to Accounts of Govind Rubber Ltd.

Mar 31, 2016

Out of the above-

i) 5069745 Equity shares of Rs. 10/- each are issued as fully paid up to Financial Institutions/ Bank against simple Interest dues as on 31st March 2003 as per restructuring package approved by CDR Cell of RBI.

ii) 459474 Equity shares of Rs. 10/- each are issued as fully paid up on Net present value (NPV) basis on account of 1% reduction in the rate of interest payable in future to Financial Institution/Bank, in terms of re-workout package approved by CDR Cell of RBI.

1. a) In the opinion of the Company, the Current Assets,

Loans and Advances are approximately of the value stated, if realized in the ordinary course of business and all known liabilities have been accounted for.

b) Debit and Credit balances of Trade Receivable and Trade Payable are subject to confirmation and Reconciliation of Accounts.

2. Contingent Liabilities & commitments:

i. Contingent Liabilities:

a) Guarantees given by the bankers to various authorities & vendors on behalf of the Company Rs 153.70 Lacs (Rs. 210.00 Lacs).

b) Disputed Sales-tax liabilities not provided for against which Company has filed appeal Rs. 8.10 Lacs (Rs. 23.71 lacs)

c) Disputed Excise Liability not provided for against which the Company has filed an appeal with the appropriate authority Rs. Nil (Rs. 85.45 lacs)

d) Disputed Electricity Liability not provided for against which the Company has filed an appeal with the appropriate authority Rs. 113.94 lacs (Rs. 113.94 lacs)

e) Claims against the company not acknowledged as debt - Rs. 493.23 Lacs (Nil).

ii. Commitments:

a) Estimated amount of contracts remaining to be executed on Capital Account and not provided for (net of advance) Rs. NIL (Rs. 287.78 Lacs)

3. The Gross Block of Fixed Assets includes Rs. 225.81 lacs (Rs. 225.81 lacs) on account of revaluation of Fixed Assets carried out in the past, except Land, Factory Building and the Main Production Plant and Machinery, which are revalued, all other Fixed Assets continue to appear at cost.

4. FINANCIALAND DERIVATIVE INSTRUMENTS

a) Derivatives contracts entered into by the Company and outstanding as on 31^st March 2016.

Nominal amounts of derivative contracts entered in the form of Forward Exports Cover by the Company and outstanding as on 31^st March 2016 amounts to Rs. 1985.67 Lacs (Rs. 1542.19 Lacs).

b) Foreign currency contracts in the form of Forward Imports cover, that are not hedged by derivative instruments as on 31^st March 2016 amounting to Rs. Nil (Rs. Nil).

5. The Company has adopted AS-15 (revised) "Employee Benefits" notified by the Company''s Accounting Standard Rules, 2006. The Company has calculated the various benefits provided to employees as under:

6. The Company has not prepared consolidated financial statements due to unavailability of the financial statements of its joint venture with GK Company Limited, South Korea, for the year under review. However this non inclusion will not have any material impact on financial statements of the Company.

7. The company''s net worth during the year is positive; hence in the opinion of the management, the provision of Sick Industrial Companies (Special Provision) Act, 1985 (SICA) is not applicable to the company.

8. Earning per Share (EPS) computed in accordance with Accounting Standard-20 "Earning per share"

Due to inadequacy of profits, remuneration paid to the Managing Director, Executive Director and whole time Director is within the minimum remuneration as prescribed under schedule V of the Companies Act, 2013.

9. (I) Disclosure of related parties (as identified by Management)

Names of the related parties with whom transactions were carried out during the year and description of relationship as required by AS - 18 "Related Parties Disclosure".

a. Related parties -

i) Associates:

GRL International Ltd.

ii) Joint Ventures:

GK Co. Limited, South Korea

iv) Key Management Personnel:

Mr. Vinod Poddar

Mr. Rahul Poddar Mr. Umesh Lathi

v) Relatives of Key Management Personnel:

Mrs. Sunita Poddar

10. The Company has reckoned the Minimum Alternate Tax (MAT) of Rs. 3.50 Lacs (Rs. 6.71 Lacs) and has taken MAT Credit entitlement of the similar amount which may be set off against tax liability in accordance with section 115JB of the Income Tax Act 1961. Provision for Income Tax is determined on the basis of taxable income after set off of unabsorbed losses/ depreciation as per the Income Tax Act 1961.

11. Disclosures required under the Micro, Small & Medium Development Act, 2006

i) Delayed payments due as at the end of each accounting year on account of Principal - Rs. 96.98 and Interest due thereon - Rs. NIL

ii) Total interest paid on all delayed payments during the year under the provisions of the Act - Rs. NIL

iii) Interest due on principal amounts paid beyond the due date during the year but without the interest amounts under this Act - Rs, NIL

iv) Interest accrued but not due- Rs, NIL

v) Total Interest due but not paid - Rs. NIL

12. Leases - Operating Leases.

i) The Company has taken various residential / commercial premises under cancellable operating leases. These agreements are normally renewed on expiry.

ii) The rental expenses recognized in Statement of Profit and Loss for operating lease taken after 1st April, 2001.

13. The Previous year figures have been regrouped / rearranged whenever necessary to make them comparable with the current year figures.

14. Figures in brackets in these notes are in respect of the previous year.

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Mar 31, 2015

1. a) In the opinion of the Company, the Current Assets,

Loans and Advances are approximately of the value stated, if realized in the ordinary course of business and all known liabilities have been accounted for.

b) Debit and Credit balances of Trade Receivable and Trade Payable are subject to confirmation and Reconciliation of Accounts.

2. Contingent Liabilities& commitments:

i. Contingent Liabilities:

a) Guarantees given by the bankers to various authorities& vendors on behalf of the Company Rs 210 Lacs (Rs.359.00 Lacs).

b) Disputed Sales-tax liabilities not provided for against which Company has filed appeal Rs.23.71 lacs (Rs. 10.24 lacs)

c) Disputed Excise Liability not provided for against which the Company has filed an appeal with the appropriate authority Rs. 85.45 lacs (Rs. 85.45 lacs)

d) Disputed Electricity Liability not provided for against which the Company has filed an appeal with the appropriate authority Rs.113.94 lacs (Rs. 113.94 lacs)

ii. Commitments:

a) Estimated amount of contracts remaining to be executed on Capital Account and not provided for (net of advance) Rs.287.78 Lacs (Rs.27.16 Lacs)

3. The Gross Block of Fixed Assets includes Rs.225.81 lacs (Rs.225.81 lacs) on account of revaluation of Fixed Assets carried out in the past, except Land, Factory Building and the Main Production Plant and Machinery which are revalued, all other Fixed Assets continue to appear at cost.

4. FINANCIAL AND DERIVATIVE INSTRUMENTS

a) Derivatives contracts entered into by the Company and outstanding as on 31st March 2015.

Normal amounts of derivative contract entered into by the Company and outstanding as on 31st March amounts to Rs. 1542.19 Lacs (Rs. 1765.17 Lacs) in the form of Forward Exports Cover.

b) Foreign currency contracts in the form of Forward Imports cover, that are not hedged by derivative instruments as on 31st March 2015 amounting to Rs. Nil (Rs. Nil).

5. The Company has adopted AS-15 (revised) "Employee Benefits" notified by the Company's Accounting Standard Rules, 2006 The Company has calculated the various benefits provided to employees as under:

Defined Contribution Plans:

During the year the Company has recognized the following amounts in the Profit and Loss account-

(Rs.in lacs)

Employer's Contribution to Superannuation Fund 7.50

(7.89)

Employer's Contribution to Provident Fund 230.85

(229.59)

Defined Benefit Plans:

Gratuity

Leave Encashment

In accordance with Accounting Standard 15 (revised 2005), an actuarial valuation was carried out in respect of the aforesaid defined benefit plans based on the following assumptions.

6. The company's net worth during the year is positive; hence in the opinion of the management, the provision of Sick Industrial Companies (Special Provision) Act, 1985 (SICA)is not applicable to the company.

7. Earning per Share (EPS) computed in accordance with Accounting Standard-20 "Earning per share"

Due to inadequacy of profits, remuneration paid to the Managing Director, Executive Director and whole time Director is within the minimum remuneration as prescribed under schedule XIII of the Companies Act, 1956.

8. (I) Disclosure of related parties (as identified by Management)

Names of the related parties with whom transactions were carried out during the year and description of relationship as requiredbyAS-18"Related Parties Disclosure".

a. Related parties -

i) Associates: GRL International Ltd.

ii) Subsidiaries Company: GRL BV, The Netherlands

iii)Joint Ventures: GK Co. Limited, South Korea

iv) Key Management Personnel: Mr. Vinod Poddar Mr. Rahul Poddar Mr.Umesh Lathi

v) Relatives of Key Management Personnel: Ms. Sunita Poddar

9. Exceptional item for the year is on account of write off of investment in and loan / Trade receivable outstanding amounting to Rs. 46.78 Lacs of wholly owned overseas subsidiary in voluntarily winding up.

10. The Company has reckoned the Minimum Alternate Tax (MAT) of Rs. 6.71 Lacs (Rs.2.41 Lacs) and has taken MAT Credit entitlement of the similar amount which may be set off against tax liability in accordance with section 115JBofthe Income Tax Act 1961. Provision for Income Tax is determined on the basis of taxable income after set off of unabsorbed losses/ depreciation as per the Income Tax Act 1961.

11. As there is no subsidiary company as on date, consolidated accounts have not been prepared in view of amended rule6 of The Companies (Accounts) Rules, 2014.

12. The Previous year figures have been regrouped/ rearranged whenever necessary to make them comparable with the current year figures.

49. Figures in brackets in these notes are in respect of the previous year.

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Mar 31, 2014

1. Contingent Liabilities & commitments:

i. Contingent Liabilities:

a) Guarantees given by the bankers to various authorities & vendors on behalf of the Company Rs. 359.00 Lacs (Rs. 203.72 Lacs).

b) Disputed Sales-tax liabilities not provided for against which Company has filed appeal Rs. 10.24 lacs (Rs. 10.24 lacs)

c) Disputed Excise Liability not provided for against which the Company has filed an appeal with the appropriate authority Rs. 85.45 lacs (Rs. 85.45 lacs)

d) Disputed Electricity Liability not provided for against which the Company has filed an appeal with the appropriate authority Rs. 113.94 lacs (Rs. 113.94 lacs)

e) Disputed Entry Tax liability not provided for against which the Company has filed an appeal with the appropriate authority Rs. 71.04 lacs (Rs. 71.04 lacs).

ii. Commitments:

a) Estimated amount of contracts remaining to be executed on Capital Account and not provided for (net of advance) Rs. 27.16 Lacs (Rs. 269.82 Lacs)

2. The Gross Block of Fixed Assets includes Rs. 225.81 lacs (Rs. 225.81 lacs) on account of revaluation of Fixed Assets carried out in the past, except Land, Factory Building and the Main Production Plant and Machinery, which are revalued, all other Fixed Assets continue to appear at cost.

3. FINANCIAL AND DERIVATIVE INSTRUMENTS

a) Derivatives contracts entered into by the Company and outstanding as on 31st March, 2014.

Normal amounts of derivative contract entered into by the Company and outstanding as on 31st March amounts to Rs. 1765.17 Lacs(Rs. 630.84 Lacs) in the form of Forward Exports Cover.

b) Foreign currency contracts in the form of Forward Imports cover, that are not hedged by derivative instruments as on 31st March, 2014 amounting to Rs. Nil (Rs. Nil).

4. The Company has adopted AS-15 (revised) "Employee Benefits" notified by the Company''s Accounting Standard Rules, 2006. The Company has calculated the various benefits provided to employees as under:

Defined Contribution Plans:

During the year the Company has recognized the following amounts in the Profit and Loss account:- (Rs. in lacs) Employer''s Contribution to Superannuation Fund 7.89 (6.42) Employer''s Contribution to Provident Fund 229.59 (180.06)

5. The Company has reckoned the Minimum Alternate Tax (MAT) of Rs. 2.41 Lacs (Rs. 27.07 Lacs) and has taken MAT Credit entitlement of the similar amount which may be set off against tax liability in accordance with section 115JB of the Income Tax Act 1961. Provision for Income Tax is determined on the basis of taxable income after set off of unabsorbed losses/ depreciation as per the Income Tax Act 1961.

6. The Previous year figures have been regrouped/rearranged whenever necessary to make them comparable with the current year figures.

7. Figures in brackets in these notes are in respect of the previous year.

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Mar 31, 2013

1. In the opinion of the Company, the Current Assets, Loans and Advances are approximately of the value stated, if realized in the ordinary course of business and all known liabilities have been accounted for.

2. Contingent Liabilities & commitments: i. Contingent Liabilities:

a) Guarantees given by the bankers to various authorities & vendors on behalf of the Company Rs.203.72 Lacs (Rs.63.63 Lacs).

b) Disputed Sales-tax liabilities not provided for against which Company has filed appeal Rs.10.24 lacs(Rs. 10.24 lacs)

c) Disputed Excise Liability not provided for against which the Company has filed an appeal with the appropriate authority Rs.85.45 lacs (Rs.85.45 lacs)

d) Disputed Electricity Liability not provided for against which the Company has filed an appeal with the appropriate authority Rs.113.94 lacs (Rs.113.94 lacs)

e) Disputed Entry Tax liability not provided for against which the Company has filed an appeal with the appropriate authority Rs.71.04 lacs (Rs.46.23 lacs).

ii. Commitments:

a) Estimated amount of contracts remaining to be executed on Capital Account and not provided for (net of advance) Rs.269.82 Lacs (Rs.138.59 Lacs)

3. The Gross Block of Fixed Assets includes Rs.225.81 lacs (Rs.225.81 lacs) on account of revaluation of Fixed Assets carried out in the past, except Land, Factory Building and the Main Production Plant and Machinery, which are revalued, all other Fixed Assets continue to appear at cost.

4. The Company has adopted AS-15 (revised) "Employee

Benefits" notified by the Company''s Accounting Standard Rules, 2006. The Company has calculated the various benefits provided to employees as under:

5. The company''s net worth during the year is positive; hence in the opinion of the management, the provision of Sick Industrial Companies (Special Provision) Act, 1985 (SICA) is not applicable to the company.

6. (I) Disclosure of related parties (as identified by Management)

Names of the related parties with whom transactions were carried out during the year and description of relationship as required by AS - 18 "Related Parties Disclosure".

a. Related parties -

i) Associates:

Bal Krishna Industries Ltd

GRL International Ltd.

Siyaram Silk Mills Ltd.

Bee tee Textile Industries Ltd.

S.P. Finance & Trading Ltd. ii) Subsidiaries Company:

GRL BV, The Netherlands iii) Joint Ventures:

GK Company Ltd., South Korea iv) Key Management Personnel:

Shri Vinod Poddar

Shri Rahul Poddar

Shri Umesh Lathi

v) Relatives of Key Management Personnel:

Mrs. Shefali Poddar

7. The Company has reckoned the Minimum Alternate Tax (MAT) of Rs. 27.07 Lacs for the year ended 31st March 2013 and has taken MAT Credit entitlement of the similar amount which may be set off against tax liability in accordance with section 115JB of the Income Tax Act 1961. Provision for Income Tax is determined on the basis of taxable income after set off of unabsorbed losses/ depreciation as per the Income Tax Act 1961.

8. The Previous year figures have been regrouped/rearranged whenever necessary to make them comparable with the current year figures.

9. Figures in brackets in these notes are in respect of the previous year.

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Mar 31, 2012

I) 5069745 Equity shares of Rs 10/- each are issued as fully paid up to Financial Institutions/ Bank against simple Interest dues as on 31st March 2003 as per restructuring package approved by CDR Cell of RBI.

ii) 459474 Equity shares of Rs 10/- each are issued as fully paid up on Net present value (NPV) basis on account of 1% reduction in the rate of interest payable in future to Financial Institution/Bank, in terms of re-workout package approved by CDR Cell of RBL

NOTES:

1) Term Loans from Banks/Financial Institutions are secured by way of first charge on parri-passu basis on Company's movable and immovable assets both present and future subject to prior charge on inventories and Book debts in favour of Company's Bankers.

2) Vehicles loans are secured by hypothecation of vehicles acquired out of proceeds of the loans.

3) Term Loans from Banks and Financial Institutions as shown above are personally guaranteed by the Managing Director.

4) In the opinion of the Company, the Current Assets, Loans and Advances are approximately of the value stated, if realized in the ordinary course of business and all known liabilities have been accounted for.

5) Contingent Liabilities & commitments:

i. Contingent Liabilities:

a) Guarantees given by the bankers to various authorities & vendors on behalf of the Company Rs 63.63 Lacs (Rs 67.63 Lacs).

b) Disputed Sales-tax liabilities not provided for against which Company has filed appeal Rs 10.24 lacs (Rs 10.78 iacs).

c) Disputed Excise Liability not provided for against which the Company has filed an appeal with the appropriate authority Rs 83.99 lacs (Rs 83.99 lacs).

d) Disputed Electricity Liability not provided for against which the Company has filed an appeal with the appropriate authority Rs 113.94 lacs (Rs 145.96 lacs).

e) Custom duty liability on capital goods which may arise if obligation for export is not fulfilled Rs Nil lacs (Rs 18.12 Lacs).

ii. Commitments:

Estimated amount of contracts remaining to be executed on Capital Account and not provided for (net of advance) f 138.59 Lacs (Rs 188.82 Lacs).

6) The Management has reviewed the position of deferred tax Assets since last year considering the uncertainty of future profitability and in current year the part of deferred tax Assets has been created as the Management is of the view that it will be recouped from subsequent year profits.

7). The Gross Block of Fixed Assets includes Rs 225.81 lacs (Rs 225.81 lacs) on account of revaluation of Fixed Assets carried out in the past, except Land, Factory Building and the Main Production Plant and Machinery, which are revalued, all other Fixed Assets continue to appear at cost.

8) The Company has adopted AS-15 (revised) "Employee Benefits" notified by the Company's Accounting Standard Ruies, 2006. The Company has calculated the various benefits provided to employees as under:

9) The Company's net worth during the year is positive; hence in the opinion of the management, the provision of Sick Industrial Companies (Special Provision) Act, 1985 (SICA) is not applicable to the company.

10) Amount remitted in Foreign Currency on account of Dividend.

11) During the year company has not made Provision for Income Tax as there is no taxable income under Income Tax Act 1961

12) The Previous year/period figures have been regrouped to be in conformity with the revised Schedule VI of the Companies Act 1956.

13) Figures in brackets in these notes are in respect of the previous year.

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Mar 31, 2011

1. In the opinion of the Company, the Current Assets, Loans and Advances are approximately of the value stated, if realised in the ordinary course of business and all known liabilities have been accounted for.

2. Contingent Liabilities in respect of:

a) Guarantees given by the bankers to various authorities & vendors on behalf of the Company Rs. 67.63 Lacs (Rs.172.95 Lacs).

b) Estimated amount of contracts remaining to be executed on Capital Account and not provided for (net of advance) Rs.188.82 Lacs (Rs. 78.39 Lacs )

c) Disputed Sales-tax liabilities not provided for against which Company has filed appeal Rs.10.78 lacs (Rs.10.19 lacs)

d) Disputed Excise Liability not provided for against which the Company has filed an appeal with the appropriate authority

. 83.99 lacs (Rs. 83.99 lacs)

e) Disputed Electricity Liability not provided for against which the Company has filed an appeal with the appropriate authority Rs.145.96 lacs (Rs. 145.96 lacs)

f) Custom duty liability on capital goods which may arise if obligation for export is not fulfilled Rs.18.12 lacs (Rs. Nil.).

(The contingent liabilities in respect of Bank Guarantees and other matters arising in the ordinary course of business from which it is anticipated that no material liabilities will arise.)

3. The Gross Block of Fixed Assets includes Rs.225.81 lacs (Rs. 225.81 lacs) on account of revaluation of Fixed Assets carried out in the past, except Land, Factory Building and the Main Production Plant and Machinery, which are revalued, all other Fixed Assets continue to appear at cost.

4. The Company has adopted AS-15 (revised) "Employee Benefits" notified by the Companys Accounting Standard Rules, 2006. The Company has calculated the various benefits provided to employees as under:

Defined Benefit Plans

Gratuity

Leave Encashment

In accordance with Accounting Standard 15 (revised 2005), an actuarial valuation was carried out in respect of the aforesaid defined benefit plans based on the following assumptions.

Discount Rate (per annum) Rate of increase in compensation level Expected rate of return on planned assets

5. The deferred tax assets (net) for the current year has not been recognized keeping in view the consideration of prudence in accordance with the Accounting Standard 22 "Accounting for Taxes on Income" issued by the Institute of Chartered Accountants of India. Company will reassess the unrecognized deferred tax assets/ liability in subsequent period having regards to the future developments.

6. Segment reporting:

The Company is mainly engaged in the business of Rubber Products consisting of all types of Tyres and Tubes. These, in the context of Accounting Standard - 17 on "Segment Reporting" issued by the institute of Chartered Accountants of India, are considered as single primary segment.

The Company caters mainly to the needs of the Domestic Market. The export turn over is not significant in the context of the total turn over. As such there are no reportable geographical segments.

7. The companys net worth during the year is positive; hence in the opinion of the management, the provision of Sick Industrial Companies (Special Provision) Act, 1985 (SICA) is not applicable to the company.

Due to inadequacy of profits, remuneration paid to the Managing Director and whole time Director is within the minimum remuneration as prescribed under schedule XIII of the Companies Act, 1956.

Computation of Profit under section 349 of the Companies Act, 1956 is not given since no commission is payable to the Managing Director.

11. (I) Disclosure of related parties (as identified by Management)

Names of the related parties with whom transactions were carried out during the year and description of relationship as required by AS - 18 "Related Parties Disclosure".

a. Related parties - i) Associates:

Balkrishna Industries Ltd GRL International Limited Siyaram Silk Mills Ltd. Sanchna trading & finance Ltd. Beetee Textile Industries Ltd. S.P. Finance & trading Ltd.

ii) Key Management Personnel: Shri Vinod Poddar Shri Umesh Lathi

iii) Relatives of1 Key Management Personnel: Mrs. Shefali Poddar

13. During the year company has not made Provision for Income Tax as there is no taxable income under Income Tax Act 1961.

14. Previous year figures have been regrouped /reclassified wherever necessary.

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Mar 31, 2010

1. In the opinion of the Company, the Current Assets, Loans and Advances are approximately of the value stated, if realised in the ordinary course of business and all known liabilities have been accounted for.

2. Contingent Liabilities in respect of:

a) Guarantees given by the bankers to various authorities & vendors on behalf of the Company Rs172.95 Lacs (Rs. 119.63 Lacs).

b) Estimated amount of contracts remaining to be executed on Capital Account and not provided for (net of advance) Rs.78.39 Lacs (Rs. 83.55 Lacs )

c) Disputed Sales-tax liabilities not provided for against which Company has filed appeal Rs.10.79 lacs(Rs. 10.19 lacs)

d) Disputed Excise Liability not provided for against which the Company has filed an appeal with the appropriate authority Rs.83.99 lacs (Rs.83.99 lacs)

e) Disputed Electricity Liability not provided for against which the Company has filed an appeal with the appropriate authority Rs.145.96 lacs (Rs. 145.96 lacs)

(The contingent liabilities in respect of Bank Guarantees and other matters arising in the ordinary course of Business from which it is anticipated that no material liabilities will arise.)

3. The Gross Block of Fixed Assets includes Rs. 225.81 lacs (Rs. 225.81 lacs) on account of revaluation of Fixed Assets carried out in the past, except Land, Factory Building and the Main Production Plant and Machinery, which are revalued, all other Fixed Assets continue to appear at cost.

4 "Accounting for Taxes on Income" issued by the Institute of Chartered Accountants of India. Company will reassess the unrecognized deferred tax assets/ liability in subsequent period having regards to the future developments.

5. Segment reporting:

The Company is mainly engaged in the business of Rubber Products consisting of all types of Tyres and Tubes. These, in the context of Accounting Standard - 17 on "Segment Reporting" issued by the Institute of Chartered Accountants of India, are considered as single primary segment.

The Company caters mainly to the needs of the Domestic Market. The export turn over is not significant in the context of the total turn over. As such there are no reportable geographical segments.

6. As per the provision of Section 23 of Sick industrial Companies (Special Provision) Act, 1985 (SICA) and as approved by the Shareholders at Extra Ordinary General Meeting held on 26-12-2002, the Company has reported to the concerned authority the fact of erosion of its net worth by more than 50%. However the company continues to prepare its Accounts on going concern basis.

7. (I) Disclosure of related parties (as identified by Management)

Names of the related parties with whom transactions were carried out during the year and description of relationship as required by AS - 18 "Related Parties Disclosure".

Related parties -

i) Associates:

Balkrishna Industries Ltd

GRL International Limited

Siyaram Silk Mills Ltd.

Sanchana Trading & Finance Ltd.

ii) Key Management Personnel:

Shri Vinod Poddar

Shri Umesh Lathi

iii) Relatives of Key Management Personnel:

Shri Rahul V. Poddar

8. During the year company has not made Provision for Income Tax as there is no taxable income under Income Tax Act 1961

9. Previous year figures have been regrouped /reclassified wherever necessary.

10. Figures in brackets in these notes are in respect of the previous year.