Notes to Accounts of MPDL Ltd.

Mar 31, 2025

ii) The company has not issued any preference shares although there is Authorized preference share capital of Rs 1500 lacs being 15,00,000 preference ''share of Rs 100 each.

b) The Company has only one class of Issued, subscribed and paid up equity shares having a par value of INR 10/-each per share. Each holder of equity shares is entitled to one vote per share. 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 in proportion to the number of equity shares held by the share holders.

c) There is no holding company of the company.

Note -26

Earning per share

Basic and Diluted EPS amounts are calculated by dividing the profit /(loss) for the year attributable to equity holders of the company by the weighted average number of Equity shares outstanding during the year.

Diluted EPS amounts are calculated by dividing the profit / loss attributable to equity holders of the company by the weighted average number of Equity shares outstanding during the year plus the weighted average number of Equity shares that would be issued on conversion of all the dilutive potential Equity shares into Equity shares.

Note -28

Segment Reporting

The business activity of the company falls within one broad business segment viz. "Construction Business and other related Real Estate Activitiesâ. The Gross income and profit / loss from the other segment is below the norms prescribed in Ind AS 108 Hence the disclosure requirement of Indian Accounting Standard 108 of âSegment Reportingâ issued by the Institute of Chartered Accountants of India is not considered applicable.

Note-31 - Financial risk management objectives and policies

The Company''s principal financial liabilities, comprise borrowings, trade and other payables, security deposits and others. The Company''s principal financial assets include trade and other receivables and cash and short-term deposits and loans.

The Company is exposed to market risk, credit risk and liquidity risk. The Company''s management oversees the management of these risks. The Company''s senior management is supported by a Risk Management Compliance Board that advises on financial risks and the appropriate financial risk governance framework for the Company. The financial risk committee provides assurance to the Company''s management that the Company''s financial risk activities are governed by appropriate policies and procedures and that financial risks are identified, measured and managed in accordance with the Company''s policies and risk objectives. The management reviews and agrees policies for managing each of these risks, which are summarised below.

I. Market risk

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

The sensitivity analyses of the above mentioned risk in the following sections relate to the position as at 31 March 2025 and 31 March 2024.

The analyses exclude the impact of movements in market variables on: the carrying values of gratuity and other post-retirement obligations; provisions; and the non-financial assets and liabilities of foreign operations. The analysis for contingent liabilities is provided in Note 34.

The following assumptions have been made in calculating the sensitivity analyses:

- The sensitivity of the relevant profit or loss item is the effect of the assumed changes in respective market risks. This is based on the financial assets and financial liabilities held at 31 March 2025 and 31 March 2024.

A. Interest rate risk

Interest rate risk is the risk that the fair value or future cash flows of a financial instrument will fluctuate because of changes in market interest rates. The Company''s exposure to the risk of changes in market interest rates relates primarily to the Company''s debt obligations with floating interest rates. However the risk is very low due to negligible borrowings by the Company.

The assumed movement in basis points for the interest rate sensitivity analysis is based on the currently observable market environment, showing a significantly higher volatility than in prior years.

B. Foreign currency sensitivity

Foreign currency risk is the risk that the fair value of future cash flows of an exposure will fluctuate because of changes in exchange rates. Foreign currency risk senstivity is the impact on the Company''s profit before tax is due to changes in the fair value of monetary assets and liabilities. The following tables demonstrate the sensitivity to a reasonably possible change in USD and EURO exchange rates, with all other variables held constant.

The movement in the pre-tax effect on profit and loss is a result of a change in the fair value of derivative financial instruments not designated in a hedge relationship and monetary assets and liabilities denominated in INR, where the functional currency of the entity is a currency other than INR.

II. Credit risk

Credit risk is the risk that counterparty will not meet its obligations under a financial instrument or customer contract, leading to a financial loss. The Company is exposed to credit risk from its operating activities (primarily trade receivables) and from its financing activities, including deposits with banks and financial institutions.

Credit risk from investments with banks and other financial institutions is managed by the Treasury functions in accordance with the management policies. Investments of surplus funds are only made with approved counterparties who meet the appropriate rating and/or other criteria, and are only made within approved limits. The management continually re-assess the Company''s policy and update as required. The limits are set to minimise the concentration of risks and therefore mitigate financial loss through counterparty failure.

A. Trade receivables

Customer credit risk is managed by each business unit subject to the Company''s established policy, procedures and control relating to customer credit risk management. Credit quality of a customer is assessed based on an extensive credit review and individual credit limits are defined in accordance with this assessment. Outstanding customer receivables are regularly monitored.

At the year end the Company does not have any significant concentrations of bad debt risk other than that disclosed in note 10.

An impairment analysis is performed at each reporting date on an individual basis for major clients. The calculation is based on historical data. The Company does not hold collateral as security. The Company evaluates the concentration of risk with respect to trade receivables as low, as its customers are located in several jurisdictions and operate in largely independent markets.

B. Financial instruments and cash deposits

Credit risk from balances with banks and financial institutions is managed by the Company''s treasury department in accordance with

III. Liquidity risk

The Company''s objective is to maintain a balance between continuity of funding and flexibility through the use of bank overdrafts. The table below summarises the maturity profile of the Company''s financial liabilities based on contractual undiscounted payments.

IV. Excessive risk concentration

Concentrations arise when a number of counterparties are engaged in similar business activities, or activities in the same geographical region, or have economic features that would cause their ability to meet contractual obligations to be similarly affected by changes in economic, political or other conditions. Concentrations indicate the relative sensitivity of the Company''s performance to developments affecting a particular industry.

The Company''s marketing facilities are situated in different geographies. Similarly the distribution network is spread PAN India.

Note: 32

Capital Management

The objective of the Company''s capital management structure is to ensure that there remains sufficient liquidity within the Company to carry out committed work programme requirements. The Company monitors the long term cash flow requirements of the business in order to assess the requirement for changes to the capital structure to meet that objective and to maintain flexibility.

The Company manages its capital structure and makes adjustments to it, in light of changes to economic conditions. To maintain or adjust the capital structure, the Company may adjust the dividend payment to shareholders, return capital, issue new shares for cash, repay debt, put in place new debt facilities or undertake other such restructuring activities as appropriate.

No changes were made in the objectives, policies or processes during the year ended 31 March 2025.

IND AS 116

^a) The Company has adopted Ind AS 116 ''Leases'' from 1 April, 2019, which resulted in changes in accounting policies in the standalone financial statements.

b) Practical expedients applied

In applying Ind AS 116 for the first time, the Company has used the practical expedients permitted by the standard:

â¢ applying a single discount rate to a portfolio of leases with reasonably similar characteristics

â¢ accounting for operating leases with a remaining lease term of less than 12 months as at 1 April 2024 as short-term leases

OTHER NOTES ON ACCOUNTS
34 Contingent liabilities and commitments
Particulars	31 March 2025	31 March 2024
Contingent liabilities: In respect of demand notice/orders received from Income Tax	(?)	(?)
Dept. pending before higher authorities In respect of demand notice/orders received from Haryana	27.13	27.13
VAT Dept. pending before higher authorities	25.13	-
Commitments:
a) Liability on account of Enhanced external development Charges	155.42	259.03
b) Outstanding Bank Guarantee	12.36	12.36

35 Balance confirmations have not been received from some of the parties showing debit/credit balances. The same is not material.

36 The company has made payment to the authorities against External/Internal Development Charges (EDC/IDC) on behalf of the customers and is collecting the same from them. Thus the company is acting as agent of the customers for the purpose of payment of EDC/IDC to the authorities and therefore is showing the same as other recoverable under note-8 in the financial statement.

39 The Company is having a project for Construction and Development of multistoried complex comprising retail shop and office space at Faridabad Haryana under the name M-1 Tower. The construction work in respect of the above said project has completed upto more than specified percentage hence proportionate cost of construction, cost of land and sales has been recognized in the Profit and Loss account as per the accounting policy. Balance advance received from customers as booking money/installments, if any, is carried over as liability in other current liabilities and amount incurred on construction cost including interest paid is carried forward as stock.

40 Additional regulatory information required by Schedule III

(i) Details of benami property held No proceedings have been initiated on or are pending against the entity for holding benami property under the Benami Transactions (Prohibition) Act, 1988 (45 of 1988) and Rules made thereunder.

(ii) Borrowing secured against current assets Entity has borrowings from banks and financial institutions on the basis of security of current assets. The quarterly returns or statements of current assets filed by the entity with banks and financial institutions are in agreement with the books of accounts.

(iii) Wilful defaulter Entiy hasn''t been declared wilful defaulter by any bank or financial institution or government or any government authority.

(iv) Relationship with struck off companies Entity has no transactions with the companies struck off under Companies Act, 2013 or Companies Act, 1956.

(v) Compliance with number of layers of companies Entity has complied with the number of layers prescribed under the Companies Act, 2013.

(vi) Compliance with approved scheme(s) of arrangements Entity has not entered into any scheme of arrangement which has an accounting impact on current or previous financial year.

(vii) Utilisation of borrowed funds and share premium Entity 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 group (Ultimate Beneficiaries) or b. provide any guarantee, security or the like to or on behalf of the ultimate beneficiaries Entity 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 group 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

(viii) Undisclosed income There is no income surrendered or disclosed as income during the current or previous year in the tax assessments under the Income Tax Act, 1961, that has not been recorded in the books of account.

(ix) Details of crypto currency or virtual currency Entity has not traded or invested in crypto currency or virtual currency during the current or previous year.

(x) Valuation of PP&E, intangible asset and investment property Entity has not revalued its property, plant and equipment (including right-of-use assets) or intangible assets or both during the current or previous year.

41 Previous Year''s figures have been regrouped wherever considered necessary.

Mar 31, 2024

j. Provisions, Contingent liabilities and Contingent assets

Provisions are recognised when the Company has a present obligation (legal or constructive) as a result of a past events and 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.

If the effect of the time value of money is material, provisions are discounted using a current pre-tax rate that reflects, when appropriate, 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.

Contingent liability is disclosed in the case of:

â¢ a present obligation arising from past events, when it is not probable that an outflow of resources will be required to settle the obligation;

â¢ a present obligation arising from past events, when no reliable estimate is possible

Provisions, contingent liabilities and contingent assets are reviewed at each balance sheet date.

k. Earnings per share

Basic earnings per equity share is computed by dividing the net profit after tax attributable to the equity shareholders by the weighted average number of equity shares outstanding during the year. Diluted earnings per equity share is computed by dividing adjusted net profit after tax by the aggregate of weighted average number of equity shares and dilutive potential equity shares during the year.

l. Cash and cash equivalents

Cash and cash equivalent in the balance sheet comprise cash at banks and on hand, cheques on hand and short-term deposits with an original maturity of three months or less, which are subject to an insignificant risk of changes in value.

For the purpose of the statement of cash flows, cash and cash equivalents consist of cash and short-term deposits, as defined above.

m. Fair value measurement

The Company measures financial instruments such as derivatives and certain investments, at fair value at each balance sheet date.

All assets and liabilities for which fair value is measured or disclosed in the financial statements are categorized within the fair value hierarchy, described as follows, based on the lowest level input that is significant to the fair value measurement as a whole:

â¢ Level 1 â Quoted (unadjusted) market prices in active markets for identical assets or liabilities

â¢ Level 2 â Valuation techniques for which the lowest level input that is significant to the fair value measurement is directly or indirectly observable

â¢ Level 3 â Valuation techniques for which the lowest level input that is significant to the fair value measurement is unobservable

For assets and liabilities that are recognized in the balance sheet on a recurring basis, the Company determines whether transfers have occurred between levels in the hierarchy by re-assessing categorization (based on the lowest level input that is significant to the fair value measurement as a whole) at the end of each reporting period.

For the purpose of fair value disclosures, the Company has determined classes of assets and liabilities on the basis of the nature, characteristics and risks of the asset or liability and the level of the fair value hierarchy as explained above.

n. Financial instruments

A financial instrument is any contract that gives rise to a financial asset of one entity and a financial liability or equity instrument of another entity.

(a) Financial assets

Classification

The Company classifies financial assets as subsequently measured at amortized cost, fair value through other comprehensive income or fair value through profit or loss on the basis of its business model for managing the financial assets and the contractual cash flows characteristics of the financial asset.

Initial recognition and measurement

All financial assets are recognized initially at fair value plus, in the case of financial assets not recorded at fair value through profit or loss, transaction costs that are attributable to the acquisition of the financial asset.

Subsequent measurement

For purposes of subsequent measurement financial assets are classified in below categories:

â¢ Financial assets carried at amortised cost

A financial asset is subsequently measured at amortised cost if it is held within a business model whose objective is to hold the asset in order to collect contractual cash flows and the contractual terms of the financial asset give rise on specified dates to cash flows that are solely payments of principal and interest on the principal amount outstanding.

â¢ Financial assets at fair value through other comprehensive income

A financial asset is subsequently measured at fair value through other comprehensive income if it is held within a business model whose objective is achieved by both collecting contractual cash flows and selling financial assets and the contractual terms of the financial asset give rise on specified dates to cash flows that are solely payments of principal and interest on the principal amount outstanding. The Company has made an irrevocable election for its investments which are classified as equity instruments to present the subsequent changes in fair value in other comprehensive income based on its business model.

â¢ Financial assets at fair value through profit or loss

A financial asset which is not classified in any of the above categories are subsequently fair valued through profit or loss.

Derecognition

A financial asset is primarily derecognized when the rights to receive cash flows from the asset have expired or the Company has transferred its rights to receive cash flows from the asset.

Investment in subsidiaries, joint ventures and associates

The company has accounted for its investment in subsidiaries, joint ventures and associates at cost.

Impairment of financial assets

The Company assesses impairment based on expected credit losses (ECL) model for measurement and recognition of impairment loss on the financial assets that are trade receivables or contract revenue receivables and all lease receivables.

(b) Financial liabilities

Classification

The Company classifies all financial liabilities as subsequently measured at amortized cost, except for financial liabilities at fair value through profit or loss. Such liabilities, including derivatives that are liabilities, shall be subsequently measured at fair value.

Initial recognition and measurement

All financial liabilities are recognized initially at fair value and, in the case of loans and borrowings and payables, net of directly attributable transaction costs. The Companyâs financial liabilities include trade and other payables, loans and borrowings including bank overdrafts, and derivative financial instruments.

Subsequent measurement

The measurement of financial liabilities depends on their classification, as described below:

â¢ Financial liabilities at amortised cost

After initial recognition, interest-bearing loans and borrowings are subsequently measured at amortized cost using the EIR method. Gains and losses are recognized in profit or loss when the liabilities are derecognized as well as through the EIR amortization process.

Amortized cost is calculated by taking into account any discount or premium on acquisition and fees or costs that are an integral part of the EIR. The EIR amortization is included as finance costs in the statement of profit and loss.

â¢ Financial liabilities at fair value through profit or loss

Financial liabilities at fair value through profit or loss include financial liabilities held for trading and financial liabilities designated upon initial recognition as at fair value through profit or loss. Financial liabilities are classified as held for trading if they are incurred for the purpose of repurchasing in the near term. This category also includes derivative financial instruments entered into by the Company that are not designated as hedging instruments in hedge relationships as defined by Ind AS 109. Separated embedded derivatives are also classified as held for trading unless they are designated as effective hedging instruments.

Gains or losses on liabilities held for trading are recognized in the statement of profit and loss.

Derecognition

A financial liability is derecognized when the obligation under the liability is discharged or cancelled or expires. When an existing financial liability is replaced by another from the same lender on substantially different terms, or the terms of an existing liability are substantially modified, such an exchange or modification is treated as the derecognition of the original liability and the recognition of a new liability. The difference in the respective carrying amounts is recognized in the statement of profit and loss.

o. Unless specifically stated to be otherwise, these policies are consistently followed.

p. Impairment of non-financial assets

The Company assesses at each reporting date whether there is an indication that an asset may be impaired. If any indication exists, or when annual impairment testing for an asset is required, the Company estimates the assetâs recoverable amount. An assetâs recoverable amount is the higher of an assetâs or CGUâs fair value less costs of disposal and its value in use. It is determined for an individual asset, unless the asset does not generate cash inflows that are largely independent of those from other assets or groups of assets. Where the carrying amount of an asset or CGU exceeds its recoverable amount, the asset is considered impaired and is written down to its recoverable amount.

In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset. In determining fair value less costs of disposal, recent market transactions are taken into account. If no such transactions can be identified, an appropriate valuation model is used. These calculations are corroborated by valuation multiples, quoted share prices for publicly traded subsidiaries or other available fair value indicators.

q. Defined benefit plans

The cost of the defined benefit plan and other post-employment benefits and the present value of such obligation are determined using systematic method. Due to the complexities involved in the valuation and its long-term nature, a defined benefit obligation is highly sensitive to changes in these assumptions. All assumptions are reviewed at each reporting date.

r. Fair value measurement of financial instruments

When the fair values of financial assets and financial liabilities recorded in the balance sheet cannot be measured based on quoted prices in active markets, their fair value is measured using valuation techniques including the DCF model. The inputs to these models are taken from observable markets where possible, but where this is not feasible, a degree of judgment is required in establishing fair values. Judgements include considerations of inputs such as liquidity risk, credit risk and volatility. Changes in assumptions about these factors could affect the reported fair value of financial instruments.

s. Impairment of financial assets

The impairment provisions for financial assets are based on assumptions about risk of default and expected loss rates. The Company uses judgments in making these assumptions and selecting the inputs to the impairment calculation, based on Companyâs past history, existing market conditions as well as forward looking estimates at the end of each reporting period.

t. Leases

A contract is, or contains, a lease if the contract conveys the right to control the use of an identified asset for a period of time in exchange for consideration.

The Company as a lessee

Leases are recognised as a right-of-use asset and a corresponding liability at the date at which the leased asset is available for use by the Company. Contracts may contain both lease and non-lease components. The Company allocates the consideration in the contract to the lease and non-lease components based on their relative stand-alone prices.

Assets and liabilities arising from a lease are initially measured on a present value basis. Lease liabilities include the net present value of the following lease payments:

â¢ fixed payments (including in -substance fixed payments), less any lease incentives receivable

â¢ variable lease payment that are based on an index or a rate, initially measured using the index or rate as at the commencement date

â¢ amounts expected to be payable under residual value guarantees, if any

â¢ the exercise price of a purchase option if any, if the Company is reasonably certain to exercise that option.

The lease payments are discounted using the interest rate implicit in the lease. If the rate cannot be readily determined, which is generally the case for leases in the Company, the lesseeâs incremental borrowing rate is used, being the rate that the individual lessee would have to pay to borrow the funds necessary to obtain an asset of similar value to the right-of-use asset in a similar economic environment with similar terms, security and conditions.

Lease payments are allocated between principal and finance cost. The finance cost is charged to the statement of profit and loss over the lease period so as to produce a constant periodic rate of interest on the remaining balance of the liability for each period. Variable lease payments that depends on sales are recognised in the statement of profit and loss in the period in which the condition that triggers those payments occurs.

Right-of-use assets are generally depreciated over the shorter of the asset''s useful life and the lease term on a straight-line basis. If the Company is reasonably certain to exercise a purchase option, the right-of-use asset is depreciated over the underlying assets useful life.

Payments associated with short-term leases are recognised on a straight-line basis as an expense in the statement of profit and loss. Short term leases are the leases with a lease term of 12 months or less. Further, rental payments for the land where lease period is considered to be indefinite or indeterminable, these are charged off to the statement of profit and loss.

2.3 Significant accounting judgements, estimates and assumptions

The preparation of the Companyâs financial statements requires management to make judgements, estimates and assumptions that affect the reported amounts of revenues, expenses, assets and liabilities, and the accompanying disclosures, and the disclosure of contingent liabilities at the date of the financial statements. Estimates and assumptions are continuously evaluated and are based on managementâs experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. Uncertainty about these assumptions and estimates could result in outcomes that require a material adjustment to the carrying amount of assets or liabilities affected in future periods.

In particular, the Company has identified the following areas where significant judgements, estimates and assumptions are required. Further information on each of these areas and how they impact the various accounting policies are described below and also in the relevant notes to the financial statements. Changes in estimates are accounted for prospectively.

Judgements

In the process of applying the Companyâs accounting policies, management has made the following judgements, which have the most significant effect on the amounts recognized in the financial statements:

Contingencies

Contingent liabilities may arise from the ordinary course of business in relation to claims against the Company, including legal, contractor, land access and other claims. By their nature, contingencies will be resolved only when one or more uncertain future events occur or fail to occur. The assessment of the existence, and potential quantum, of contingencies inherently involves the exercise of significant judgments and the use of estimates regarding the outcome of future events.

Estimates and assumptions

The key assumptions concerning the future and other key sources of estimation uncertainty at the reporting date that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year, are described below. The Company based its assumptions and estimates on parameters available when the consolidated financial statements were prepared. Existing circumstances and assumptions about future developments, however, may change due to market change or circumstances arising beyond the control of the Company. Such changes are reflected in the assumptions when they occur.

Note-31 - Financial risk management objectives and policies

I. Market risk

The sensitivity analyses of the above mentioned risk in the following sections relate to the position as at 31 March 2024 and 31 March 2023.

The following assumptions have been made in calculating the sensitivity analyses:

A. Interest rate risk

II. Credit risk

A. Trade receivables

At the year end the Company does not have any significant concentrations of bad debt risk other than that disclosed in note 10.

Capital Management

No changes were made in the objectives, policies or processes during the year ended 31 March 2024.

IND AS 116

^a) The Company has adopted Ind AS 116 ''Leases'' from 1 April, 2019, which resulted in changes in accounting policies in the standalone financial statements.

b) Practical expedients applied

In applying Ind AS 116 for the first time, the Company has used the practical expedients permitted by the standard:

â¢ applying a single discount rate to a portfolio of leases with reasonably similar characteristics

â¢ accounting for operating leases with a remaining lease term of less than 12 months as at 1 April 2023 as short-term leases

40 Additional regulatory information required by Schedule III

(iii) Wilful defaulter Entiy hasn''t been declared wilful defaulter by any bank or financial institution or government or any government authority.

(iv) Relationship with struck off companies Entity has no transactions with the companies struck off under Companies Act, 2013 or Companies Act, 1956.

(vi) Compliance with approved scheme(s) of arrangements Entity has not entered into any scheme of arrangement which has an accounting impact on current or previous financial year.

(ix) Details of crypto currency or virtual currency Entity has not traded or invested in crypto currency or virtual currency during the current or previous year.

41 Previous Yearâs figures have been regrouped wherever considered necessary.

In terms of our report of even date annexed

For O P BAGLA & CO LLP CHARTERED ACCOUNTANTS Firm Regn No. 000018N / N500091

Sd/- Sd/-

Sd/- Rajesh Paliwal Santosh Kumar Jha

(Atul Aggarwal) DIRECTOR WHOLE-TIME DIRECTOR

DATED : 30/05/2024

PLACE : NEW DELHI PARTNER ^DIN: ^{03098155 DIN:10052}6⁹⁴

M No. 092656 Sd/- Sd/-

Bhumika Chadha Satyajit Pradhan

COMPANY SECRETARY CHIEF FINANCE OFFICER

M.No. A 46115 PAN: BYZPP2602M

Mar 31, 2015

1. The company has obtained a license from The Director, Town & Country Planning, Haryana, to develop a commercial colony on the land acquired under collaboration arrangement. The company has started activities related to architectural designing etc for the project. Cost paid for the land along with other directly related costs including internal/external development charges paid to the Authorities are carried over as Inventory in financial statements.

2. The Company has during the year not received any information from any vendor regarding their status being registered under Micro, Small and Medium Enterprises Development Act, 2006.

3. In the opinion of the Management the 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 in the Balance Sheet except stated otherwise.

4. Pending settlement with the a party under Slump sale arrangement of the erstwhile Sugar Division of the company in earlier years, a sum of Rs320.07lacs (Previous Year Rs295.99lacs)is deposited in escrow account as fixed deposit in bank as shown in Other Bank balances in Note 13.The company is recognizing interest income thereon.

5. Tax Expense is the aggregate of current year income tax and deferred tax charged to the Profit and Loss Account for the year.

a) Current Year Charge:

Income Tax provision of Rs.42.00 Lacs(Previous Year Rs.3.00lacs) has been made towards MAT u/s 115JB and no tax is payable on regular income.

b) Deferred Tax

Deferred tax asset and liability are recognized on the timing differences between book records and income tax records in accordance with the provisions of AS 22 of Taxes on Income. Keeping in view the uncertainty of future profits for setting off the deferred tax asset the same are not recognized in the books during the year.

6. Disclosure of interest in joint ventures under AS 27 of 'Financial Reporting of Interest in Joint Ventures: Name of Joint venture: Galaxy Monnet InfraheightsPvt Ltd

Proportion of ownership interest: 50%

Operations: The joint venture entity is in the business of real estate development and has taken up a project in Gurgaon. Construction of the project is in progress as at 31.3.2015.

Mar 31, 2014

(Rs. In Lacs) Current Year Previous Year

1 Contingent Liabilities:

In respect of show cause notice/orders received from Excise Deptt. For Mollases /Press mud/Bagasse pending before higher authorities 20.20 20.20

2. The Company, has during the year not received any information from any vendor regarding their status being registered under Micro, Small and Medium Enterprises Development Act, 2006. Based on the above, disclosures, if any, relating to amounts unpaid as at the period end along with interest paid / payable have not been given.

3. A sum of Rs 295.99 lacs (Previous Year Rs 273.10 lacs) as shown under Cash & Bank balances towards deposit in the escrow account represents amount withheld under Slump sale arrangement of the Sugar Division of the Company in earlier years. The amount has been kept as fixed deposit in bank and the Company is recognizing interest income thereon.

4. The Company has accounted for retirement benefit of employees on accrual basis calculated on arithmetical basis based on last drawn salaries. In opinion of the management the provision so made is sufficient for compliance of Accounting Standard AS-15.

5. Tax Expense is the aggregate of current year income tax and deferred tax charged to the Profit and Loss Account for the year.

a) Current Year Charge:

Income Tax provision of Rs. 3.00 lacs has been made towards MAT u/s 115JB and no tax is payable on regular income.

b) Deferred Tax

Deferred tax asset and liability are recognized on the timing differences between book records and income tax records in accordance with the provisions of AS 22 of Taxes on Income. Keeping in view the uncertainty of future profits for setting off the deferred tax asset the same are not recognized in the books during the year.

Mar 31, 2011

1. CURRENT PREVIOUS YEAR YEAR (Rs. In Lacs) Estimated amount of contracts remaining 1 to be executed on Capital Account and not provided for (Net of advances) NIL NIL

2 Letters of Credit opened in favour of in land/overseas suppliers Nil NIL

3 Guarantees (Rs. In Lacs)

Counter guarantees issued to Bankers in respect of guarantees issued by them 73.46 73.46

4 Contingent Liabilities not provided for (Rs. In Lacs) - In respect of demand of Sales Tax NIL NIL

In respect of show cause notice/orders received from Excise Deptt. For Mollases /Press 15.94 15.94 - mud/Bagasse pending before higher authorities

Disclosure of amount due to micro medium and small enterprises [text block]

The Company, has during the year not received any information from any vendor regarding their status being registered under Micro, Small and Medium Enterprises Development Act, 2006. Based on the above, disclosures, if any, relating to amounts unpaid as at the period end along with interest paid / payable have not been given.

* As certified by the management and relied upon by the Auditors being a technical matter.

2.Advance recoverable in cash or kind under Current Assets include a sum of Rs. 2787.51 lacs representing amounts paid towards collaboration arrangements for development of real estate projects. It represents Rs 2188.25 lacs paid to the collaborators and Rs. 599.26 lacs deposited with the relevant authorities for completion of necessary formalities and other expenses thereon. The amount shall be adjusted towards cost of projects on actual commencement of the projects.

3.Pending certain formalities 1007500 equity shares of Cambridge Construction ( Delhi ) Ltd as shown in Investments are yet to be transferred in name of the company.

4.Balance confirmations have not been received from some of the parties showing debit/credit balances.

5.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 in the Balance Sheet except stated otherwise.

6 .Assistant Commissioner Stamp Duty U.P. has imposed stamp duty on transfer of land from Monnet Industries Ltd. to Monnet Sugar Ltd. on Trifurcation alongwith Penalty & Interest. The amount alongwith demanded interest amounting to Rs.579806/- which has been provided in the accounts. The company has gone into appeal with Higher Authorities. Adjustment, if any, shall be made on final orders in the matter.

7 .A sum of Rs 1456.10 lacs as shown under Cash & Bank balances towards deposit in the escrow account represents amount withheld under Slump sale arrangement of the Sugar Division of the company in earlier year. The amount has been kept as fixed deposit in bank and the company is recognizing interest income thereon.

8. Tax Expense is the aggregate of current year income tax and deferred tax charged to the Profit and Loss Account for the year. a) Current Year Charge:

Income Tax provision of Rs.0.84 lacs has been made towards MAT u/s 115JB and no tax is payable on regular income.

9. Previous period figures have been regrouped or recasted wherever considered necessary.

Mar 31, 2010

Current Year Previous Year (Rs. in Lacs)

1. Contingent Liabilities not provided for (Rs. in Lacs)

- In respect of demand of Sales Tax NIL NIL

- In respect of show cause notice/orders received from Excise Deptt. For Molloses/Pressmud/Bagasse pending before higher authorities 15.94 15.94

2. Advance recoverable in cash or kind under Current Assets include a sum of Rs1093.27 lacs representing amount paid towards collaboration arrangement for development of a real estate project. It represents Rs 650 lacs paid to the collaborators and Rs 443.27 lacs deposited with the relevant authorities for completion of necessary formalities and other expenses thereon. The amount shall be adjusted towards cost of project on actual commencement of the project.

3. Pending certain formalities 1007500 equity shares of Cambridge Construction (Delhi) Ltd as shown in Investments are yet to be transferred in name of the company.

4. Balance confirmations have not been received from some of the parties showing debit/credit balances.

5. The Company is in the process of identifying vendors registered under Micro, Small and Medium Enterprises Development Act, 2006 and gathering information to make the necessary disclosures as mentioned in the amendment to Schedule VI of the Companies Act, 1956 vide the notification dated November 16, 2007.

6. 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 in the Balance Sheet except stated otherwise..

7. Related party disclosures in terms of AS 18 on Related Party Transactions: Key Management Personnel : MrJP Lath Transactions during the year :

Remuneration and perquisites : Rs.22,18,680/-

8. Assistant Commissioner Stamp Duty U.P. has imposed stamp duty on transfer of land from Monnet Industries Ltd. to Monnet Sugar Ltd. on Trifurcation alongwith Penalty & Interest. The amount alongwith demanded interest amounting to Rs.579806/- which has been provided in the accounts. The company has gone into appeal with Higher Authorities. Adjustment, if any, shall be made on final orders in the matter.

9. A sum of Rs 1392.26 lacs as shown under Cash & Bank balances towards deposit in the escrow account represents amount withheld under Slump sale arrangement of the Sugar Division of the company in earlier year. The amount has been kept as fixed deposit in bank and the company is recognizing interest income thereon.

10. The company has not complied with Accounting standard AS-15 (Revised) regarding retirement benifit of the employees. However the company has accounted for retirement benifit of employees on apprual basis calculated on ariphmetical basis based on last drawn salaries.

11. Tax Expense is the aggregate of current year income tax, fringe benefit tax and deferred tax charged to the Profit and Loss Account for the year.

a) Current Year Charge :

Income Tax provision of Rs.0.19 lacs has been made towards MAT u/s 115JB and no tax is payable on regular income.

12. Previous period figures have been regrouped or recasted wherever considered necessary.

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