Notes to Accounts of Mercury Trade Links Ltd.

Mar 31, 2025

O Provisions, Contingent Liabilities and Contingent Assets

A provision is recognized when the company has a present obligation as a result of past event, it
is probable that an outflow of resources embodying economic benefits will be required to settle
the obligation and a reliable estimate can be made of the amount of the obligation. Provisions are
not discounted to their present value and are determined based on best management estimate
required to settle the obligation at the balance sheet date. These are reviewed at each balance sheet
date and adjusted to reflect the current best management estimates.

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 contingent liabilities but discloses it''s
existence in the financial statement. Contingent assets are neither recognized nor disclosed in the
financial statements.

P Employee Benefits:

Short term obligations:

Liabilities for wages and salaries, including earned leave and sick leave that are expected to be
settled wholly within 12 months after the end of the period in which the employees render the
related service are recognised in respect of employees'' services up to the end of the reporting
period and are measured by the amounts expected to be paid when the liabilities are settled. The
liabilities are presented as current employee benefit obligations in the balance sheet.

Retirement benefits

The Company has dissolved the Provident Fund Trust and is in the process of closure of the same
as there are no employees left other than the two Whole Time Directors and Chief Financial
Officer. The Company''s Superannuation Fund is administered through Life Insurance
Corporation of India and is recognised by the Income Tax Department. Company''s contribution
to Superannuation Fund for the year is charged against revenue. The Company has provided for
Gratuity in Current Year for the Two Wholetime Directors

Employee Separation Costs:

The compensation paid to the employees under Voluntary Retirement Scheme is expensed in the
year of payment.

Q Cash flow Statement

Cash flows are reported using the indirect method, whereby profit before tax is adjusted for the
effects of transactions of non cash nature and any deferrals or accruals of past or future cash
receipts or payments. The cash flows from operating, investing and financing activities of the
Company are segregated based on the available information.

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Mar 31, 2014

Note 1: Contingent Liability

Contingent liabilities as may arise on account of non/delayed compliance of certain fiscal statutes - Amount unascertainable (Previous year - Amount unascertainable)

Note 2: Segment Accounting

Since the Company has neither more than one business segment nor more than one geographical segment, segment information as per Accounting Standard 17 is not required to be disclosed.

Note 3: Related party Transactions

(A) Names of the related parties and nature of relationship which exists.

(i) Associates

- Sumadhu Traders Pvt. Ltd.

- Sumadhu Estate Developers Pvt. Ltd.

- Suvimal Properties Pvt. Ltd.

¦ - India Food Company Pvt. Ltd.

- National Tiles & Industries Pvt. Ltd.

- Madhu Construction Pvt. Ltd.

(ii) Subsidiaries: None.

(iii) Kev Managerial personnel and their relatives

(a) Shri Pradeep Kumar Sarda Chairman

(b) Shri Gopal Somani Director

(c) Shri Parag Sarda (Son of Shri Pradeep Kumar Sarda) Director

(iv) Relatives of Kev Management Personnel-None Note : Related party relationships are identified by the Company and relied upon by the auditors.

Note 4: Taxation (a) The Company has not provided for Current tax in view of losses incurred by the Company during the year under review.

(b) Deferred Tax Assets arising due to timing difference have not been provided for in the accounts during the year, considering the principle of prudence. As a consequence, no Deferred Tax provision is appearing in the Company''s books as at the Balance sheet date.

Note 5: Micro, Small and Medium Enterprises Development Act, 2006: Micro Small and Medium Enterprises in the Current as well in the has been amended on the basis of mformatton . provided by the Company and relied upon by the Auditors.

Note 6: Retirement Benefits: No provision is constdered necessary in the accounts towards Gratuity and Leave encashment since there are no employees with the Company.

Note 7: The Company is in the process of obtaining Service Tax registration for payment of Service tax under reverse charge mechanism.

Note 8: Non-compliance of Clanse 41 of the Listing Agreement Reports to the concerned Stock Exchanges.

Note 9: The previous year''s figures have been reworked, regrouped, rearranged and reclassified wherever necessary.

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Mar 31, 2013

Note 1: Contingent Liability

Contingent liabilities as may arise on account of non/delayed compliance of certain fiscal statutes - Amount unascertainable (Previous year - Amount unascertainable)

Note 2: Segment Accounting

Since the Company has neither more than one business segment nor more than one geographical segment, segment information as per Accounting Standard 17 is not required to be disclosed.

Note 3: Related party Transactions

(A) Names of the related parties and nature of relationship which exists:

(i) Associates

- Sumadhu Traders Pvt. Ltd.

- Sumadhu Estate Developers Pvt. Ltd.

- Suvimal Properties Pvt. Ltd.

- India Food Company Pvt. Ltd.

- National Tiles & Industries Pvt. Ltd.

- Madhu Construction Pvt. Ltd.

(ii) Subsidiaries: None.

(iii) Key Managerial personnel and their relatives

(a) Shri Pradeep Kumar Sarda Chairman

(b) Shri Gopal Somani Director

(c) Shri Parag Sarda (Son of Shri Pradeep Kumar Sarda) Director

(iv) Relatives of Key Management Personnel-None

Note 4: Taxation

The Company has not provided for Current tax in view of losses incurred by the Company during the year under review.

The Company has not recognized Deferred Tax Asset out of Prudence.

Note 6: Micro, Small and Medium Enterprises Development Act, 2006:

There were no dues to Micro, Small Enterprises in the Current as well in the Previous Financial Year. The on the basis of information provided by the Company and by auditors.

7. the company has not altered the provisions of the Memorandum of Association with respect to share capital of the company during the year under scrutiny.

8. the company has not altered its Articles of Association during the year under scrutiny.

9. there was no prosecution initiated against or show cause notice received by the company and no fines or penalties or any other punishment was imposed on the company during the financial year, for the offences under the Act.

10. the company has not received any sum as security from its employees during the year under scrutiny.

11. the provisions of Section 418 of the Act are not applicable to the company during the year under scrutiny.

Note 12: Retirement Benefits:

No provision is considered necessary in the accounts towards Gratuity and Leave encashment since there are no employees with the Company.

Note 13: The Company is in the process of obtaining Service Tax registration for payment of Service tax under reverse charge mechanism.

Note 14: Non-compliance of Clause 41 of the Listing Agreement

During the year, the Company has continued its non-compliance with the provisions of Clause 41 of the Listing Agreement in respect of quarterly submission of Limited Review Reports to the concerned Stock Exchanges.

Note 15: The previous year''s figures have been reworked, regrouped, rearranged and reclassified wherever necessary.

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Mar 31, 2012

Note 1 Contingent Liability - Rs. Nil Note 22: Segment Accounting

Since the Company has neither more than one business segment nor more than one geographical segment, segment information as per Accounting Standard 17 is not required to be disclosed.

Note 2: Taxation

Provision for Current tax for year ended 31st March 2012 of Rs 0.17 Lacs has not been made,the same being materal departure from the recommendations of AS 29st Provisions, Contingent Liabilities & Contingent Assets"

Note 3: Micro, Small and Medium Enterprises Development Act, 2006:

There were no dues to Micro, Small and Medium Enterprises in the Current as well in the Previous Financial Year. The same has been amended on the basis of information provided by the Company and relied upon by the Auditors.

Note 4: Retirement Benefits:

No provision is considered necessary in the accounts towards Gratuity and Leave encashment since there are no employees with the Company.

Note 5: Non-compliance of Clause 41 of the Listing Agreement

During the year, the Company has continued its non-compliance with the provisions of Clause 41 of the Listing Agreement in respect of quarterly submission of Limited Review Reports to the concerned Stock Exchanges.

Note 6: The previous year's figures have been reworked, regrouped, rearranged and reclassified whereer necessary.

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Mar 31, 2011

1. Contingent Liability - Rs. Nil

2. In the opinion of the management the Current Assets, Loans and Advances have a value on realisation in the ordinary course of business at least equal to the amount at which they are stated and adequate provision for all the known liabilities has been made.

3. No adjustment is considered necessary in respect of appreciation/ erosion in the book value of investments as the said investments are of long term nature.

4. During the Year Company has transferred shares lying as investment to Emkay Global Financial Services Ltd under Portfolio Management Services which are held as long term investment. The income from trading in shares of year has been shown as business profit/losses considering shares as stock in trade. Closing stock of Shares have been valued at Cost or market price whichever is low as per Accounting Standard - 2 Valuation of Inventory

4. Segment Accounting

Since the Company has neither more than one business segment nor more than one geographical segment, segment information as per Accounting Standard 17 is not required to be disclosed.

5. Related Party Transactions

(i) Key Managerial personnel and their relatives

(a) Shri Pradeep Kumar Sarda Chairman

(b) Shri Gopal Somani Director

(c) Shri Parag Sarda (Son of Shri Pradeep Kumar Sarda) Director

(ii) Relatives of Key Management Personnel

None

6. Deferred Taxation

a) No provision for Current tax for year ended 31st March 2011 has been considered in view of losses incurred during the year by the Company

7. There were no dues to Micro, Small and Medium Enterprises in the Current as well in the Previous Financial Year. The same has been amended on the basis of information provided by the Company and relied upon by the Auditors.

8. No provision is considered necessary in the accounts towards Gratuity and Leave encashment since there are no employees with the Company.

9. Previous figures have been rearranged /regrouped wherever necessary to make them comparable with those of the current year.

10. During the year, the Company has continued its noncompliance with the provisions of Clause 41 of the Listing Agreement in respect of quarterly submission of limited Review Reports to the concerned Stock Exchanges.

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Mar 31, 2010

1. Contingent Liability - Rs. Nil

2. In the opinion of the management, the Current Assets, Loans and Advances have a value on realisation in the ordinary course of business at least equal to the amount at which they are stated and adequate provision for all the known liabilities has been made.

3. No adjustment is considered necessary in respect of appreciation/ erosion in the book value of Investments as the same are of long Term nature.

4. The Company has changed its accounting policy in respect of valuation of Inventories on Average cost Basis. Hitherto, the same were valued on First in First out basis. As a consequence of the above change the profit and loss on sale of shares is higher by Rs. 3.32 Lacs (Previous Year - Nil).

5. Segment Accounting

Since the Company has neither more than one business segment nor more than one geographical segment, segment information as per Accounting Standard 17 is not required to be disclosed.

6. Related party Transactions

(i) Key Managerial personnel and their relatives

(a) Shri Pradeep Kumar Sarda Chairman

(b) Shri GopalSomani Director

(c) Shri Parag Sarda (Son ofSgififcg^B>ep Kumar Sarda) Director

7. Deferred Taxation

Tax rate for the above calculations was considered @ 30.00%.

8. There were no dues to Micro, Small and Medium Enterprises in the Current as well in the Previous Financial Year. The same has been amended on the basis of information provided by the Company and relied upon by the Auditors.

9. No provision is considered necessary in the accounts towards Gratuity and Leave encashment since there are no employees with the Company.

10. Previous figures have been rearranged /regrouped wherever necessary to make them comparable with those of the current year.

11. During the year, the Company has continued its non-compliance with the provisions of Clause 41 of the Listing Agreement in respect of quarterly submission of Limited Review Reports to the concerned Stock Exchanges.

12. Quantitative information pursuant to Part II of Schedule VI to the Companies Act, 1956 is as follows:-

13. Information pursuant to Part IV of Schedule VI to the Companies Act, 1956: