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Notes to Accounts of OK Play India Ltd.

Mar 31, 2023

(a) Terms/ rights attached to equity shares

The Company has only one class of equity shares having par value ofRs 10/- per share . Each holder of equity shares is entitled to one vote per share held and is entitled to dividend , if declared at the Annual General Meeting .{ In the event of liquidation , the equity shareholders are entitled to receive remaining assets of the company ( after distrubtion of all preferential amounts, if any ) in the proportion of equity held by the shareholders }

The Board of Directors of the Company at its meeting held on 23rd July 2007 issued zero coupon unsecured Foreign Currency Convertible Bonds (''FCCB") aggregating to USD 10 Million at par. During the financial year 2010-11 the "FCCB" ofthe face value of USD 97,60,000 had been bought back by the company at a discount of 24% to the lace value of the "FCCB" and subsequently a notice was given to the Clearing Houses, through the Trustees, requesting communication with the bondholders of the balance 24 bonds of the face value of USD 240000. However, no response has been received and no claimant has come forth on the redemption date 24th July 2012 and till date. The premium payable on the redemption of the "FCCB" has been provided for.

b) Other money for which the company is contingently liable:

(i) Security, in the form of charge on the properties and Residual value of Block assets, present and future, after netting the prime security for term loans, provided to a bank for the credit limits sanctioned by it to the subsidiary company, OK Play Auto Private Limited.

The amount assessed as contingent liability does not include interest that could be claimed by the counter parties.

(II) Commitments

1. The Company does not have any capital contracts remaining to be executed hence there is no capital commitment at the end of the year (Previous Year - Nil)

2. In the opinion of the Management, the Current Assets, Loans and Advances shown in the Balance Sheet have a value on realisation in the ordinary course of business atleast equal to the amount stated therein. The provision for all known liabilities has been made and is adequate.

3 . All the operations of the company are considered as a single business segment for the purpose of Ind AS 108 âOperating Segmentsâ.

Foreign Currency Sensitivity

Since the net foreign currency exposure is not substantial, the foreign currency sensitivity is not material at the reporting date.

(ii) 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 the market interest rate. Since the companyâs borrowings which are affected by interest rate fluctuation is very insignificant to the size and operations of the company, therefore, a change in interest rate risk does not have a material impact on the companyâs financial statements in relation to fair value of financial instruments.

OK PLAY INDIA LIMITED

NOTES TO STANDALONE FINANCIAL STATEMENTS

(iii) Credit Risk

Credit Risk refers to the risk that a counter party will default on its contractual obligations resulting in financial loss to the company. Financial instruments that are subject to concentrations of credit risks, principally consist of balance with banks, trade receivables, loans and advances. None of the financial instruments of the company result in material concentrations of credit risks.

(iv) Liquidity Risk

The company manages liquidity risk through banking facilities by continuously monitoring forecast and actual cash flows.

Note :

# The significant change in these ratios are due to the additional borrowings raised by the Company during the year for execution of new orders

(i) No proceeding has been initiated or pending against the Company for holding any benami property under the Benami Transaction (Prohibition ) Act, 1988 (43 of 1988) and the rules made thereunder.

(ii) As per information available with the Management, the Company does not have any transaction with companies struck off under Section 248 of the Companies Act , 2013 or section 560 of the Companies Act, 1956.

(iii) No funds have been received by the Company from any person(s) or entity(ies), including foreign entities (Funding Parties) , with the understanding , whether recorded in writing or otherwise, that the Company shall, directly or indirectly lend or invest in other person(s) or entity(ies) identified in any manner whatsoever by or on behalf of the Funding Party ( Ultimate Beneficaries) or provide any guarantee, security or the like on behalf of the Ultimate Beneficiaries.

(iv) There was no charge or satisfaction , which is yet to be registered with concerned Registrar of Companies, beyond the period permitted under the Companies Act, 2013.

(v) The Company has not been declared as wilful defaulter by any bank or financial institution or other lender.

(vi) There''s no transaction which has not been recorded in the books of accounts and disclosed or surrendered as income during the year in the tax assessments under the Income Tax Act, 1961.

(vii) The Company is in compliance with the regulation as to the number of layers of companies prescribed under clause (87) of section 2 of the Companies Act, 2013 read with the Companies (Restoration on number ofLayers) Rules, 2014.

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

(ix) No funds have been advanced or loaned or invested (either from borrowed funds or share premium or any other sources or kind of funds ) by the Company to or in any other person(s) or entity(ies), including foreign entities ("Intermediaries"), with the understanding , whether recorded in writing or otherwise , that the intermeidary shall, directly or indirectly lend or invest in other persons or entities identified in any manner whatsoever by or on behalf of the Company ("Ultimate Beneficiaries") or provide any guarantee, security or the like on behalf of the Ultimate Beneficiaries .

(x) Corporate Social Responsibility (C SR) liability is not applicable to the company. .

(xi) The Company has made divestment of interest in OK Play Healthcare Private Limited, subsidiary of the Company w.e.f 29th June, 2022

Mar 31, 2018

A. CORPORATE INFORMATION

The Company was incorporated on 19th August 1988 and is a public limited company listed on the Bombay Stock Exchange (BSE).The Companyâs registered office is at 17, Rojka Meo Industrial Estate, Tehsil Nuh, District Mewat, Haryana -122103.The company manufactures Plastic Molded Toys, School Furniture, Playground Equipment, Infrastructure & Automotive Products, Point-Of-Purchase Products and E-Vehicles.

B. CRITICAL ACCOUNTING JUDGEMENTS AND KEY SOURCES OF ESTIMATION UNCERTAINTY

The preparation of the Companyâs financial statements requires management to make judgement, estimates and assumptions that affect the reported amount of revenue, expenses, assets and liabilities and the accompanying, disclosures 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 the future periods.

a) Depreciation/amortization and useful lives of property, plant and equipment/ intangible assets.

Property, plant and equipment/intangible assets are depreciated/amortised over their estimated useful lives, after taking into account estimated residual value. Management reviews the estimated useful lives and residual values of assets annually in order to determine the amount of depreciation/ amortisation to be recorded during any reporting period. The useful lives and residual values are based on the Companyâs historical experience with similar assets and take into account anticipated technological changes. The depreciation/amortization for future periods is revised if there are significant changes from previous estimates.

b) Recoverability of trade receivable

Judgements are required in assessing the recoverability of overdue trade receivables and determining whether a provision against those receivables is required. Factors considered include the credit rating of the counterparty, the amount and timing of anticipated future payments and any possible actions that can be taken to mitigate the risk of non-payment.

c) Provisions

Provisions and liabilities are recognized in the period when it becomes probable that there will be a future outflow of funds resulting from past operations or events and the amount of cash outflow can be reliably estimated. The timing of recognition and qualification of the liability requires the application of judgement to existing facts and circumstances, which can be subject to change. The carrying amounts of provisions and liabilities are reviewed regularly and revised to take account of changing facts and circumstances.

d) 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, the Company estimates the assetâs recoverable amount. An assetâs recoverable amount is the higher of an assetâs or Cash Generating Units (CGUs) 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 a group 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 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.

e) Impairment of financial assets

The impairment provisions for financial assets are based on assumptions about risks of default and expected cash loss rates. The Company uses judgement 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.

C. FIRST TIME ADOPTION OF IND AS

The Company has adopted Ind AS with effect from 1st April 2017 with comparatives being restated. Accordingly, the impact of transition has been provided in the Opening Reserves as at 1st April, 2016. The figures for the previous period have been restated, regrouped and reclassified wherever required to comply with the requirement of Ind AS and Schedule III.

a) Exemptions from retrospective application

(i) Fair value as deemed cost exemption

The Company has elected to measure items of property, plant and equipment and intangible assets at its carrying value at the transaction date except for certain class of assets which are measured at fair value as deemed cost.

(ii) Investments in subsidiary

The Company has elected to measure investment in subsidiary at cost.

(b) Terms/ rights attached to equity shares: The Company has only one class of equity shares having par value of Rs 10/- per share. Each holder of equity shares is entitled to one vote per share held and is entitled to dividend, if declared at the Annual General Meeting.{In the event of liquidation , the equity shareholders are entitled to receive remaining assets of the company ( after distribution of all preferential amounts, if any ) in the proportion of equity held by the shareholders.}

1.1. Secured Term Loans are secured as below:

From Bank: Exclusive charge/equitable mortgage on the factory land and building at 17-18, Rojka Meo Industrial Estate, Tehsil Nuh, District-Mewat, Haryana, Plant and Machinery and Assets created out of the term Loan.

Against Vehicles: Secured against hypothecation of respective vehicles:

1.2. Term Loans from banks are collaterally secured by:

a) Equitable Mortgage on the Companyâs property at 124, New Manglapuri, Mehrauli, New Delhi.

b) Equitable Mortgage of land and building at Plot No 17-18, Rojka Meo Industrial Estate, Tehsil Nuh, District Mewat, Haryana.

c) Equitable Mortgage of Companyâs property at Plot No 33, Rojka Meo Industrial Estate, Tehsil Nuh, District Mewat, Haryana.

d) Hypothecation of all Current Assets of the company.

e) First charge on other net block assets of the Company.

f) Personal Guarantees of two of the Directors of the company.

g) Pledge of 47.94 lacs Equity Shares of the company by one of the Directors.

h) Second charge on entire fixed assets of the subsidiary Company , OK Play Auto Private Limited.

i) Residual value of prime security of the subsidiary Company, OK Play Auto Private Limited.

j) Reinvestment Deposit Plan of value of Rs1.56 Crores.

k) Corporate Guarantee of the Subsidiary Company, OK Play Auto Private Limited.

1.3. Term loans, Unsecured, from other parties have been secured by third party property.

1.4. Term loans are repayable as follows:

From Bank: Payable in monthly installments upto year 2024-25.

Against Vehicles: Payable in monthly Installments extending to year 2022-23.

External Commercial Borrowing: Payable in half yearly installments upto 2018-19.

Unsecured from Other Parties: Payable in monthly/quarterly installments extending to year 2022-23.

2. 1 Working Capital Loan from Bank is secured by:

Secured against Stocks of Raw Materials, Work-in-Progress, Finished Goods, Other Stocks and Book Debts.

2. 2 Working Capital Loan from bank is collaterally secured by:

a) Equitable Mortgage on the Companyâs Property at 124, New Manglapuri, Mehrauli, New Delhi.

b) Equitable Mortgage of land and building at Plot No 17-18, Rojka Meo Industrial Estate, Tehsil Nuh, District Mewat, Haryana.

c) Equitable Mortgage of Companyâs property at Plot No 33, Rojka Meo Industrial Estate, Tehsil Nuh, District Mewat, Haryana.

d) Hypothecation of all Current Assets of the company.

e) First charge on other net block assets of the company.

f) Personal Guarantees of two of the Directors of the company.

g) Pledge of 47.94 lacs Equity Shares of the company by one of the Directors.

h) Second charge on entire fixed assets of the subsidiary Company, OK Play Auto Private Limited.

i) Residual value of prime security of the subsidiary Company, OK Play Auto Private Limited. j) Reinvestment Deposit Plan of value of Rs1.56 Crore.

The Board of Directors of the Company at its meeting held on 23rd July 2007 issued zero coupon unsecured Foreign Currency Convertible Bonds (âFcCbâ) aggregating to USD 10 Million at par. During the financial year 2010-11 the âFCCBâ of the face value of USD 97,60,000 had been bought back by the company at a discount 24% to the face value of the âFCCBâ and subsequently a notice was given to the Clearing Houses, through the Trustees, requesting communication with the bondholders of the balance 24 bonds of the face value of USD 2,40,000 However, no response has been received and no claimant has come forth on the redemption date 24th July 2012 and till date. The premium payable on the redemption of the âFCCBâ has been provided for.

NOTE: 3 NOTES ON STANDALONE FINANCIAL STATEMENTS

1. Contingent Liabilities and Commitments, not provided for :

(I) Contingent Liabilities

a) Claims against the company not acknowledged as debt:

(i) Claims against the Company, where legal cases are under way, but not acknowledged as debts amount to Rs. 50,73,895.00 (Previous year Rs. 61,25,818.12).

(ii) Demand of penalty of Rs. Nil (Previous Year Rs. 29,37,276.00) under the Central Excise Act is in dispute and pending before the Central Excise & Service Tax Appellate Tribunal.

b) Guarantees:

(i) Guarantees given to banks as counter guarantees for performance of contracts Rs.15,58,200.00 (Previous Year Rs. 42,00,400.00).

(ii) Letter of credit issued by banks-Nil (Previous year Rs. Nil).

(iii) Corporate Guarantee, restricted to Rs. 25.00 crores, given as security for the credit limits sanctioned by a bank to the subsidiary company, OK Play Auto Private Limited.

c) Other money for which the company is contingently liable:

(II) Commitments

a) Estimated amount of contracts remaining to be executed on capital account and not provided for amount to Rs. Nil (Previous Year Rs. Nil).

2. In the opinion of the Management, the Current Assets, Loans and Advances shown in the Balance Sheet have a value on realisation in the ordinary course of business at least equal to the amount stated therein. The provision for all known liabilities has been made and is adequate.

3. The Company has not received any intimation from suppliers regarding their status under the Micro, Small & Medium Enterprises Development Act, 2006 and hence disclosures, if any, relating to amounts unpaid as at the year end together with interest paid / payable as required under the said Act have not been furnished.

4. All the operations of the company are considered as a single business segment for the purpose of Ind AS 108 âOperating Segmentsâ.

5. Related Party Disclosures:

(I) Relationships

(a) Key Management Personnel Justice T.R. Handa (Retd.)

Mr. Rajan Handa

Mrs. Mamta Handa Dr. Rajan Wadhera Mr Triloki Nath Verma Mr Narayan Chandra Rout Relatives

Mr. Rishab Handa Mr. Raghav Handa

(b) Subsidiary Company

OK Play Auto Private Limited

Anupam Art Printer

Note: Related party relationship is as identified by the company and relied upon by the Auditors.

6. CAPITAL MANAGEMENT

The Company manages its capital to ensure that the company will be able to continue as going concern through efficient allocation of capital towards expansion of business and optimization of working capital requirements. The management of the company reviews the capital structure of the company on regular basis

The fair value of the financial assets and liabilities are included at the amount that would be received to sell on asset and paid to transfer a liability in an orderly transaction between market participants. The following methods and assumptions were used to estimate the fair values:

- Trade receivables, cash and cash equivalents, other bank balances, loans, other current financial assets, current borrowings, trade payables and other current financial liabilities: Approximate their carrying amounts largely due to the short-term maturities of these instruments.

Foreign Currency Risk

All foreign currency denominated assets and liabilities are translated using exchange rate at reporting date.

The following table shows foreign currency exposures in USD on financial instruments at the end of the reporting year.

Foreign Currency Sensitivity

Since the net foreign currency exposure is not substantial, the foreign currency sensitivity is not material at the reporting date.

Interest Rate Risk

Credit Risk

Credit Risk refers to the risk that a counter party will default on its contractual obligations resulting in financial loss to the company.

Financial instruments that are subject to concentrations of credit risks, principally consist of balance with banks, trade receivables, loans and advances. None of the financial instruments of the company result in material concentrations of credit risks.

Liquidity Risk

The company manages liquidity risk through banking facilities by continuously monitoring forecast and actual cash flows.

Mar 31, 2016

1. Secured Term Loans are secured as below:

From Banks : Secured against hypothecation of assets created from Term Loan.

Against Vehicles : Secured against hypothecation of respective vehicles.

2. Term Loans from banks are collaterally secured by:

a)Equitable Mortgage on the Company''s property at 124, New Manglapuri, Mehrauli, New Delhi.

b)Equitable mortgage of land and building at plot no.17-18, Rojka Meo Industrial Estate, Tehsil Nuh, District Mewat, Haryana.

c) Hypothecation of all the Current Assets of the company.

d) First charge on other net block assets of the company.

e) Personal guarantees of two of the Directors of the company.

f) Pledge of 47.94 lacs Equity Shares of the company by one of the Directors.

g) Second charge on entire fixed assets of the subsidiary company, OK Play Auto Private Limited.

h) Residual value of prime security of the subsidiary company, OK Play Auto Private Limited.

i) Reinvestment Deposit Plan of the value of Rs.0.84 crores.

j) Corporate Guarantee of the Subsidiary Company, OK Play Auto Private Limited, restricted to Rs.91.21 crores

3. Term Loans, Unsecured from other parties have been secured by third party property.

4. Term Loans are repayable as follows:

From Bank: Payable in monthly installments upto year 2019-20 Against Vehicles: Payable in monthly installments extending to year 2019-20 External Commercial Borrowing: Payable in half-yearly installments up to year 2018-19 Unsecured From Other Parties: Payable in monthly installments extending to year 2022-23

5. Working Capital Loan from Bank is secured by:

Secured against hypothecation of stocks of Raw Material, Work-in-process, Finished Goods & Other Stocks and book debts.

6. Working Capital Loan from bank is collaterally secured by:

a)Equitable Mortgage on the Company''s property at 124, New Manglapuri, Mehrauli, New Delhi.

b)Equitable mortgage of land and building at plot no.17-18, Rojka Meo Industrial Estate, Tehsil Nuh, District Mewat, Haryana.

c) Hypothecation of all the Current Assets of the company.

d) First charge on other net block assets of the company.

e) Personal guarantees of two of the directors of the company.

f) Pledge of 47.94 lacs Equity Shares of the company by one of the Directors.

g) Second charge on entire fixed assets of the subsidiary company, OK Play Auto Private Limited.

h) Residual value of prime security of the subsidiary company, OK Play Auto Private Limited.

i) Reinvestment Deposit Plan of the value of Rs.0.84 crores.

7. The Board of Directors of the Company at its meeting held on 23^rd July, 2007 issued zero coupon unsecured Foreign Currency Convertible Bonds (''FCCB'') aggregating to USD 10 million, at par.

During the financial year 2010-11, the ''FCCB'' of the face value of USD 9,760,000 had been bought back by the company at a discount of 24% to the face value of the ''FCCB'' and subsequently a notice was given to the Clearing Houses, through the Trustees, requesting communication with the bondholders of the balance 24 bonds of the face value of USD 240,000. However, no response has been received and no claimant has come forth on the redemption date of 24th July, 2012 and till date. The premium payable on the redemption of the FCCB has been provided for.

8. Contingent Liabilities and Commitments, not provided for :

(I) Contingent Liabilities

a) Claims against the company not acknowledged as debt:

(i) Claims against the Company, where legal cases are under way, but not acknowledged as debts amount to Rs.70,68,518.12 (Previous Year Rs.59,74,812.12)

(ii) Demand of penalty of Rs.29,37,276/- (Previous Year Rs.29,37,276/-) under the Central Excise Act is in dispute and pending before the Central Excise & Service Tax Appellate Tribunal.

b) Guarantees:

(i) Guarantees given to banks as counter guarantees for performance of contracts Rs.1,06,60,000 /- (Previous Year Rs.7,06,60,000/-).

(ii) Letter of credit issued by banks-Nil (Previous year Rs. Nil)

(iii) Corporate Guarantee, restricted to Rs.26.00 crores, given as security for the credit limits sanctioned by a bank to the subsidiary company, OK Play Auto Private Limited.

c) Other money for which the company is contingently liable:

(II) Commitments

a) Estimated amount of contracts remaining to be executed on capital account and not provided for amount to Rs. Nil (Previous Year Rs. Nil).

9. In the opinion of the Management, the Current Assets, Loans and Advances shown in the Balance Sheet have a value on realization in the ordinary course of business at least equal to the amount stated therein. The provision for all known liabilities have been made and are adequate.

10 . There was a fire at the plant on the intervening night between 9th & 10th January, 2015 in which the company lost its stocks and part of the Building and Plant & Machinery. The company had incurred a loss of Rs 22.25 crores due to the fire which had been reflected in Other Expenses in the previous year. The company had filed a claim with the insurance company for the loss incurred which had been reflected in the Other Income and Other Current Assets in the previous year. During the year, the insurance company has paid the claim to the company as per its final loss assessment report. The final loss on account of fire, incurred by the company, has been reflected as Exceptional Item in the Statement of Profit and Loss for the year.

11. The Company has not received any intimation from suppliers regarding their status under the Micro, Small & Medium Enterprises Development Act, 2006 and hence disclosures, if any, relating to amounts unpaid as at the year end together with interest paid / payable as required under the said Act have not been furnished.

12. All the operations of the company are considered as a single business segment for the purpose of Accounting Standard 17, âSegment Reportingâ(AS17)), issued by the Institute of Chartered Accountants of India.

Mar 31, 2015

1. Secured Term Loans are secured as below:

From Banks : Secured against hypothecation of assets created from Term Loan.

Against Vehicles : Secured against hypothecation of respective vehicles.

2. Term Loans from banks are collaterally secured by:

a) Equitable Mortgage on the Company's property at 124, New Manglapuri, Mehrauli, New Delhi.

b) Equitable mortgage of land and building at plot no. 17-18, Rojka Meo Industrial Estate, Tehsil Nuh, District Mewat, Haryana.

c) Hypothecation of all the Current Assets of the company.

d) First charge on other net block assets of the company.

e) Personal guarantees of two of the directors of the company.

f) Pledge of 47.94 lacs Equity Shares of the company by one of the Directors.

g) Second charge on entire fixed assets of the subsidiary company, OK Play Auto Private Limited.

h) Residual value of prime security of the subsidiary company, OK Rlay Auto Private Limited.

i) Reinvestment Deposit Plan of the value of Rs. 0.45 crores.

3. Term Loans, Unsecured from other parties have been secured by third party property.

4. Term Loans are repayable as follows:

From Bank: Payable in monthly instalments upto year 2019-20

Against Vehicles: Payable in monthly instalments extending to year 2020-21 External Commercial Borrowing: Payable in half-yearly instalments upto year 2018-19 Unsecured From Other Parties: Payable in monthly instalments extending to year 2022-23

5. Working Capital Loan from Bank is secured by:

Secured against hypothecation of stocks of Raw Material, Work-in-process, Finished Goods & Other Stocks and book debts.

6. Working Capital Loan from bank is collaterally secured by:

a) Equitable Mortgage on the Company's property at 124, New Manglapuri, Mehrauli, New Delhi.

b) Equitable mortgage of land and building at plot no.17-18, Rojka Meo Industrial Estate, Tehsil Nuh, District Mewat, Haryana.

c) Hypothecation of all the Current Assets of the company.

d) First charge on other net block assets of the company.

e) Personal guarantees of two of the directors of the company.

f) Pledge of 47.94 lacs Equity Shares of the company by one of the Directors.

g) Second charge on entire fixed assets of the subsidiary company, OK Play Auto Private Limited.

h) Residual value of prime security of the subsidiary company, OK Play Auto Private Limited.

i) Reinvestment Deposit Plan of the value of Rs.0.45 crores.

7. The Board of Directors of the Company at its meeting held on 23rd July, 2007 issued zero coupon unsecured Foreign Currency Convertible Bonds ('FCCB') aggregating to USD 10 million, at par. During the financial year 2010-11, the 'FCCB' of the face value of USD 9,760,000 had been bought back by the company at a discount of 24% to the face value of the 'FCCB' and subsequently a notice was given to the Clearing Houses, through the Trustees, requesting communication with the bondholders of the balance 24 bonds of the face value of USD 240,000. However, no response has been received and no claimant has come forth on the redemption date of 24th July, 2012 and till date. The premium payable on the redemption of the FCCB has been provided for.

8. Contingent Liabilities and Commitments, not provided for:

(I) Contingent Liabilities *

a) Claims against the company not acknowledged as debt:

(i) Claims against the Company, where legal cases are under way, but not acknowledged as debts amount to Rs 59,74,812.12.

(ii) Demand of penalty of Rs. 29,37,276/- (Previous Year Rs. 29,37,276/-) under the Central Excise Act is in dispute and pending before the Central Excise & Service Tax Appellate Tribunal.

b) Guarantees:

(I) Guarantees given to banks as counter guarantees for performance of contracts Rs.706,60,000 /- (Previous Year Rs. 706,60,000/-).

(ii) Letter of credit issued by banks-Nil (Previous year Rs. Nil)

(iii) Corporate Guarantee, restricted to Rs. 19.48 crores, given as security for the credit limits sanctioned by a bank to the subsidiary company, OK Play Auto Private Limited.

c) Other money for which the company is contingently liable:

(i) Security, in the form of charge on the properties and Residual value of Block assets, present and future, after netting the prime security for term loans, provided to a bank for the credit limits sanctioned by it to the subsidiary company, OK Play Auto Private Limited.

9. Commitments

a) Estimated amount of contracts remaining to be executed on capital account and not provided for amount to Rs. Nil (Previous Year Rs. Nil).

10. In the opinion of the Management, the Current Assets, Loans and Advances shown in the Balance Sheet have a value on realisation in the ordinary course of business atleast equal to the amount stated therein. The provision for all known liabilities have been made and are adequate.

11. There was a fire at the plant on the intervening night between 9th & 10th January, 2015 in which the company lost its stocks and part of the Building and Plant & Machinery. The company has incurred a loss of Rs 22.25 crores due to the fire which have been reflected in Other Expenses. The company has filed a claim with the insurance company for the loss incurred which has been reflected in the Other Income and Other Current Assets. The insurance company has yet to give a copy of the final loss assessment report.

12. The Company has not received any intimation from suppliers regarding their status under the Micro, Small & Medium Enterprises Development Act, 2006 and hence disclosures, if any, relating to amounts unpaid as at the year end together with interest paid / payable as required under the said Act have not been furnished.

13. All the operations of the company are considered as a single business segment for the purpose of Accounting Standard 17, 'Segment Reporting'(AS17)), issued by the Institute of Chartered Accountants of India.

14. Related Party Disclosures:

(I) Relationships

(a) Key Management Personnel

Justice T.R. Handa (Retd.) Mr. Rajan Handa Mrs. Mamta Handa Dr. Rajan Wadhera Relatives Mrs. Usha Handa

(b) Subsidiary Company

OK Play Auto Private Limited

(c) Significant influence of key management personnel of the company Rave India (A Printing unit of Rave Scans Pvt Ltd)

A&A Labels Anupam Art Printer

Note: Related party relationship is as identified by the company and relied upon by the Auditors.

Mar 31, 2014

1. Secured Term Loans are secured as below:

From Banks : Secured against hypothecation of assets created from Term Loan.

Against Vehicles : Secured against hypothecation of respective vehicles.

2. Term Loans from banks are collaterally secured by:

a) Equitable Mortgage on the Company''s property at 124, New Manglapuri, Mehrauli, New Delhi.

b) Equitable mortgage of land and building at plot no.17-18, Rojka Meo Industrial Estate, Tehsil Nuh, District Mewat, Haryana.

c) Hypothecation of all the Current Assets of the company.

d) First charge on other net block assets of the company.

e) Personal guarantees of two of the directors of the company.

f) Pledge of Equity Shares of the company of the value of Rs. 10 crores by one of the directors.

g) Residual value of prime security of the subsidiary company, OK Play Auto Private Limited.

h) Equitable Mortgage of third party property.

3. Term Loans, Unsecured from other parties have been secured by third party property.

4. Term Loans are repayable as follows:

From Bank: Payable in monthly instalments upto year 2016-17 Against Vehicles: Payable in monthly instalments extending to year 2020-21 External Commercial Borrowing: Payable in half-yearly instalments upto year 2018-19 Unsecured From Other Parties: Payable in monthly instalments extending to year 2022-23

5. Working Capital Loan from Bank is secured by:

Secured against hypothecation of stocks of Raw Material, Work-in-process, Finished Goods & Other Stocks and book debts.

6. Working Capital Loan from bank is collaterally secured by:

a) Equitable Mortgage on the Company''s property at 124, New Manglapuri, Mehrauli, New Delhi.

b) Equitable mortgage of land and building at plot no.17-18, Rojka Meo Industrial Estate, Tehsil Nuh, District Mewat, Haryana.

c) Hypothecation of all the Current Assets of the company.

d) First charge on other net block assets of the company.

e) Personal guarantees of two of the directors of the company.

f) Pledge of Equity Shares of the company of the value of Rs. 10 crores by one of the directors.

g) Residual value of prime security of the subsidiary company, OK Play Auto Private Limited.

h) Equitable Mortgage of third party property.

7. The Board of Directors of the Company at its meeting held on 23rd July, 2007 issued zero coupon unsecured Foreign Currency Convertible Bonds (''FCCB'') aggregating to USD 10 million, at par. During the financial year 2010-11, the ''FCCB'' of the face value of USD 9,760,000 had been bought back by the company at a discount of 24% to the face value of the ''FCCB'' and subsequently a notice was given to the Clearing Houses, through the Trustees, requesting communication with the bondholders of the balance 24 bonds of the face value of USD 240,000. However, no response has been received and no claimant has come forth on the redemption date of 24th July, 2012 and till date. The premium payable on the redemption of the FCCB has been provided for.

8. Contingent Liabilities and Commitments, not provided for :

(I) Contingent Liabilities

a) Claims against the company not acknowledged as debt:

(i) Demand of penalty of Rs. 29,37,276/- (Previous Year Rs. 29,37,276/-) under the Central Excise Act is in dispute and pending before the Central Excise & Service Tax Appellate Tribunal.

b) Guarantees:

(i) Guarantees given to banks as counter guarantees for performance of contracts Rs.706,60,000/- (Previous Year Rs. 106,60,000/-).

(ii) Letter of credit issued by banks-Nil (Previous year Rs. 272,86,102/-)

(iii) Corporate Guarantee, restricted to Rs. 19.48 crores, given as security for the credit limits sanctioned by a bank to the subsidiary company, OK Play Auto Private Limited.

c) Other money for which the company is contingently liable:

(i) Security, in the form of charge on the properties and Residual value of Block assets, present and future, after netting the prime security for term loans, provided to a bank for the credit limits sanctioned by it to the subsidiary company, OK Play Auto Private Limited.

(II) Commitments

a) Estimated amount of contracts remaining to be executed on capital account and not provided for amount to Rs. Nil (Previous Year Rs. Nil).

9. In the opinion of the Management, the Current Assets, Loans and Advances shown in the Balance Sheet have a value on realisation in the ordinary course of business atleast equal to the amount stated therein. The provision for all known liabilities have been made and are adequate. However, the balances of parties are subject to confirmation.

10. Advertisement expenses of Rs 392,13,964/- standing as deferred revenue expenditure in the previous year have been written off during the year as the benefit of the same has been received.

11. The Company has not received any intimation from suppliers regarding their status under the Micro, Small & Medium Enterprises Development Act, 2006 and hence disclosures, if any, relating to amounts unpaid as at the year end together with interest paid / payable as required under the said Act have not been furnished.

12. All the operations of the company are considered as a single business segment for the purpose of Accounting Standard

17, ''Segment Reporting''(AS17)), issued by the Institute of Chartered Accountants of India.

13. Related Party Disclosures:

(I) Relationships

(a) Key Management Personnel Justice T.R. Handa (Retd.)

Mr. Rajan Handa

Mrs. Mamta Handa Dr. Rajan Wadhera Relatives Mrs. Usha Handa

(b) Subsidiary Company

OK Play Auto Private Limited

(c) Significant influence of key management personnel of the company Sacred Exim Limited

14. Note: Related party relationship is as identified by the company and relied upon by the Auditors.

Mar 31, 2013

1. Contingent Liabilities and Commitments, not provided for :

(I) Contingent Liabilities

a) Claims against the company not acknowledged as debt:

(i) Demand of penalty of Rs. 29,37,276/- (Previous Year Rs. 29,37,276/-) under the Central Excise Act is in dispute and pending before the Central Excise & Service Tax Appellate Tribunal.

b) Guarantees:

(i) Guarantees given to banks as counter guarantees for performance of contracts Rs.106,60,000 /- (Previous Year Rs. 163,63,000/-). (ii) Letter of credit issued by banks Rs.272,86,102 /- (Previous year Rs. 199,60,878/-) (iii) Corporate Guarantee, restricted to Rs. 19.48 crores, given as security for the credit limits sanctioned by a bank to the subsidiary company, OK Play Auto Private Limited.

c) Other money for which the company is contingently liable:

(i) Security, in the form of charge on the properties and Residual value of Block assets, present and future, after netting the prime security for term loans, provided to a bank for the credit limits sanctioned by it to the subsidiary company, OK Play Auto Private Limited.

(II) Commitments

a) Estimated amount of contracts remaining to be executed on capital account and not provided for amount to Rs. Nil (Previous Year Rs. Nil).

2. In the opinion of the Management, the Current Assets, Loans and Advances shown in the Balance Sheet have a value on realisation in the ordinary course of business atleast equal to the amount stated therein. The provision for all known liabilities have been made and are adequate. However, the balances of parties are subject to confirmation.

3. Advertisement expenses in the nature of deferred revenue expenditure would be written off over the years when the benefit would be received.

4. The Company has not received any intimation from suppliers regarding their status under the Micro, Small & Medium Enterprises Development Act, 2006 and hence disclosures, if any, relating to amounts unpaid as at the year end together with interest paid / payable as required under the said Act have not been furnished.

5. All the operations of the company are considered as a single business segment for the purpose of Accounting Standard 17, ''Segment Reporting''(AS17)), issued by the Institute of Chartered Accountants of India.

6. Related Party Disclosures: (I) Relationships

(a) Key Management Personnel Justice T.R. Handa (Retd.) Mr. Rajan Handa Mrs. Mamta Handa Dr. Rajan Wadhera

Relatives

Mrs. Usha Handa

(b) Subsidiary Company

OK Play Auto Private Limited

(c) Significant influence of key management personnel of the company Sacred Exim Limited

Note: Related party relationship is as identified by the company and relied upon by the Auditors.

Mar 31, 2012

1.1 Secured Term Loans are secured as below:

From Banks : Secured against hypothecation of assets created from Term Loan.

Against Vehicles : Secured against hypothecation of respective vehicles.

1.2 Term Loans from banks are collaterally secured by:

a)Equitable Mortgage on the Company's property at 124, New Manglapuri, Mehrauli, New Delhi.

b)Equitable mortgage of land and building at plot no.17-18, Rojka Meo Industrial Estate, Tehsil Nuh, District Mewat, Haryana.

c) Hypothecation of all the Current Assets of the company.

d) First charge on other net block assets of the company.

e) Negative lien on the property of land at Bawal Industrial Estate, Phase II, Haryana

f) Personal guarantees of two of the directors of the company.

g) Pledge of Equity Shares of the company of the value of Rs. 10 crores by one of the directors.

1.3 Term Loans, Unsecured from other parties have been secured by third party property and by pledge of equity shares by a director.

1.4 Term Loans are repayable as follows:

From Bank: Payable in monthly instalments upto year 2016-17 Against Vehicles: Payable in monthly instalments extending to year 2014-15 External Commercial Borrowing: Payable in half-yearly instalments upto year 2018-19 Unsecured From Other Parties: Payable in monthly instalments extending to year 2022-23

2.1 Working Capital Loan from Bank is secured by:

Secured against hypothecation of stocks of Raw Material, Work-in-process, Finished Goods & Other Stocks and book debts.

2.2 Working Capital Loan from bank is collaterally secured by:

a)Equitable Mortgage on the Company's property at 124, New Manglapuri, Mehrauli, New Delhi.

b)Equitable mortgage of land and building at plot no.17-18, Rojka Meo Industrial Estate, Tehsil Nuh, District Mewat, Haryana.

c) Hypothecation of all the Current Assets of the company.

d) First charge on other net block assets of the company.

e) Negative lien on the property of land at Bawal Industrial Estate, Phase II, Haryana

f) Personal guarantees of two of the directors of the company.

g) Pledge of Equity Shares of the company of the value of Rs. 10 crores by one of the directors.

3.1 The Board of Directors of the Company at its meeting held on 23rd July, 2007 issued zero coupon unsecured Foreign Currency Convertible Bonds (ÃFCCB') aggregating to US $ 10 million, at par.

The bondholders have an option to convert these bonds into equity shares at an initial conversion price of Rs. 140/- per share at a fixed exchange rate ( Rs. 40.34 = US $ 1). The conversion price may be reset on the first, second and third anniversaries of the Bonds. The reset conversion price cannot be lower than Rs. 98.15 or the applicable reset floor price as prescribed by SEBI from time to time. The conversion price will be subject to certain adjustments as detailed in the offering circular such as dilution, bonus, dividends, right issue etc. Unless previously redeemed, repurchased or converted, the company will redeem these bonds at 146.25 percent of the principal amount on 24th July, 2012. As at 31st March, 2012 none of the ÃFCCB' have been converted into equity shares but ÃFCCB' of the face value of USD 9,760,000 had been bought back by the company at a discount of 24% to the face value of the ÃFCCB' and the balance of ÃFCCB' outstanding as on 31st March, 2012 have been included in Other Current Liabilities.

The company expects that the bond holders would opt for conversion rather than redemption and hence, in that case no premium would be payable and on that basis the same is not provided for.

Maximum premium amount payable at current exchange rates is Rs.57,80,913/-.

4.1 Potential equity shares on conversion of the Foreign Currency Convertible Bonds into equity shares, at the option of the bond holders, are having an anti-dilutive effect and are therefore ignored in calculating diluted earnings per share.

Note : 1 Notes on Financial Statements

1. Contingent Liabilities and Commitments, not provided for:

(I) Contingent Liabilities

a) Claims against the company not acknowledged as debt:

(i) Demand of penalty of Rs. 29,37,276/- (Previous Year Rs. 29,37,276/-) under the Central Excise Act is in dispute and pending before the Central Excise & Service Tax Appellate Tribunal.

b) Guarantees:

(i) Guarantees given to banks as counter guarantees for performance of contracts Rs.163,63,000 /- (Previous Year Rs. 146,23,000/-).

(ii) Letter of credit issued by banks Rs. 199,60,878 /- (Previous year Rs. 201,70,159/-)

(iii) Corporate Guarantee, restricted to Rs. 19.48 crores, given as security for the credit limits sanctioned by a bank to the subsidiary company, OK Play Auto Private Limited.

c) Other money for which the company is contingently liable:

(i) Security, in the form of charge on the properties and Residual value of Block assets, present and future, after netting the prime security for term loans, provided to a bank for the credit limits sanctioned by it to the subsidiary company, OK Play Auto Private Limited.

(II) Commitments

a) Estimated amount of contracts remaining to be executed on capital account and not provided for amount to Rs. Nil (Previous Year Rs. Nil).

1. In the opinion of the Management, the Current Assets, Loans and Advances shown in the Balance Sheet have a value on realisation in the ordinary course of business atleast equal to the amount stated therein. The provision for all known liabilities have been made and are adequate. However, the balances of parties are subject to confirmation.

2. Advertisement expenses in the nature of deferred revenue expenditure would be written off over the years when the benefit would be received.

3. Expenses on issue of Foreign Currency Convertible Bonds are being written off over five financial years.

4. The Company has not received any intimation from suppliers regarding their status under the Micro, Small & Medium Enterprises Development Act, 2006 and hence disclosures, if any, relating to amounts unpaid as at the year end together with interest paid / payable as required under the said Act have not been furnished.

5. All the operations of the company are considered as a single business segment for the purpose of Accounting Standard 17, ÃSegment Reporting'(AS17)), issued by the Institute of Chartered Accountants of India.

6. Related Party Disclosures:

(I) Relationships

Key Management Personnel

Justice T.R. Handa (Retd.)

Mr. Rajan Handa

Mrs. Mamta Handa

Dr. Rajan Wadhera

Relatives

Mrs. Usha Handa

Note: Related party relationship is as identified by the company and relied upon by the Auditors.

Mar 31, 2011

1. Estimated amount of contracts remaining to be executed on capital account and not provided for amount to Rs. Nil (Previous Year Rs. Nil).

2. Contingent Liabilities not provided for :

(i) Demand of penalty of Rs. 29,37,276/- (Previous Year Rs. 29,37,276/-) under the Central Excise Act is in dispute and pending before the Central Excise & Service Tax Appellate Tribunal.

(ii) Guarantees given to banks as counter guarantees for performance of contracts Rs. 146,23,000/- (Previous Year Rs. 113,50,000/-).

(iii) Letter of credit issued by banks Rs. 201,70,159/- (Previous year Rs.112,99,036/-)

(iv) Corporate Guarantee, restricted to Rs. 19.48 crores, given as security for the credit limits sanctioned by a bank to the subsidiary company, OK Play Auto Private Limited.

(v) Security, in the form of charge on the properties and Residual value of Block assets, present and future, after netting the prime security for term loans, provided to a bank for the credit limits sanctioned by it to the subsidiary company, OK Play Auto Private Limited.

3. In the opinion of the Management, the Current Assets, Loans and Advances shown in the Balance Sheet have a value on realisation in the ordinary course of business atleast equal to the amount stated therein. The provision for all known liabilities have been made and are adequate. However, the balances of parties are subject to confirmation.

4. Amounts shown under the head 'Secured Loans' have been secured as below:-

(i) Term Loans

From Banks : Secured against hypothecation of assets created from Term Loan. Against Vehicles : Secured against hypothecation of respective vehicles.

(ii) Working Capital Loans:

From Banks : Secured against hypothecation of stocks of Raw Material, Work-in-process, Finished Goods & Other Stocks and book debts.

Term Loans and Working Capital Loans from banks are collaterally secured by:

a) Equitable Mortgage on the Company's property at 124, New Manglapuri, Mehrauli, New Delhi.

b) Equitable mortgage of land and building at plot no.17-18, Rojka Meo Industrial Estate, Tehsil Nuh, District Mewat, Haryana.

c) Hypothecation of all the Current Assets of the company.

d) First charge on other net block assets of the company.

e) Negative lien on the property of land at Bawal Industrial Estate, Phase II, Haryana

f) Personal guarantees of two of the directors of the company.

g) Pledge of Equity Shares of the company of the value of Rs. 10 crores by one of the directors.

5. 'Term Loan from others' shown under Unsecured Loans in Schedule 'C' Ã Loan Funds has been secured by third party property and by pledge of equity shares by a director.

6. In respect of the Domestic Factoring Facility availed by the company, the discounting charges have been provided as per the terms of the sanction letter. However, the factoring company has charged excess discounting charges of Rs. 1,69,365.52 during the year, to which the company disagrees and hence has not provided the same. Accordingly the profits of the company would have been lower by the said amount had the company accepted the excess charges of the factoring company.

7. Advertisement expenses in the nature of deferred revenue expenditure would be written off over the years when the benefit would be received.

8. The Board of Directors of the Company at its meeting held on 23rd July, 2007 issued zero coupon unsecured Foreign Currency Convertible Bonds ('FCCB') aggregating to US $ 10 million, at par. The bondholders have an option to convert these bonds into equity shares at an initial conversion price of Rs. 140/- per share at a fixed exchange rate ( Rs. 40.34 = US $ 1). The conversion price may be reset on the first, second and third anniversaries of the Bonds. The reset conversion price cannot be lower than Rs. 98.15 or the applicable reset floor price as prescribed by SEBI from time to time. The conversion price will be subject to certain adjustments as detailed in the offering circular such as dilution, bonus, dividends, right issue etc. Unless previously redeemed, repurchased or converted, the company will redeem these bonds at 146.25 percent of the principal amount on 24th July, 2012. As at 31st March, 2011 none of the 'FCCB' have been converted into equity shares. However, during the year, 'FCCB' of the face value of USD 9,760,000 have been bought back by the company at a discount of 24% to the face value of the 'FCCB' and the balance of 'FCCB' outstanding as on 31st March, 2011 have been included and disclosed in Schedule 'C'- Loan Funds under the sub-heading 'Unsecured'.

The company expects that the bond holders would opt for conversion rather than redemption and hence, in that case no premium would be payable and on that basis the same is not provided for. Maximum premium amount payable at current exchange rates is Rs.50,39,156/-.

9. Expenses on issue of Foreign Currency Convertible Bonds are being written off over five financial years.

10. The Company has not received any intimation from suppliers regarding their status under the Micro, Small & Medium Enterprises Development Act, 2006 and hence disclosures, if any, relating to amounts unpaid as at the year end together with interest paid / payable as required under the said Act have not been furnished.

11. All the operations of the company are considered as a single business segment for the purpose of Accounting Standard 17, 'Segment Reporting'(AS17)), issued by the Institute of Chartered Accountants of India.

12. Related Party Disclosures:

(I) Relationships

Key Management Personnel

Justice T.R. Handa (Retd.)

Mr. Rajan Handa

Mrs. Mamta Handa

Dr. Rajan Wadhera

Relatives

Mrs. Usha Handa

Note: Related party relationship is as identified by the company and relied upon by the Auditors.

13. Previous year's figures have been regrouped wherever necessary to make them comparable with the current year.

Mar 31, 2010

1. Estimated amount of contracts remaining to be executed on capital account and not provided for amount to Rs. Nil (Previous Year Rs. 4,40,00,000/-).

2. Contingent Liabilities not provided for :

(i) Demand of penalty of Rs.29,37,276/- (Previous Year Rs. 29,37,276/-) under the Central Excise Act is in dispute and pending before the Central Excise & Service Tax Appellate Tribunal.

(ii) Guarantees given to banks as counter guarantees for performance of contracts Rs.113,50,000/- (Previous Year Rs. 91,95,733/-).

(iii) Letter of credit issued by banks Rs.112,99,036/- (Previous year Rs. Nil).

3. In the opinion of the Management, the Current Assets, Loans and Advances shown in the Balance Sheet have a value on realisation in the ordinary course of business atleast equal to the amount stated therein. The provision for all known liabilities have been made and are adequate. However, the balances of parties are subject to confirmation.

4. Amounts shown under the head ÃSecured Loans have been secured as below:-

(i) Term Loans

From Banks : Secured against hypothecation of assets created from Term Loan.

Against Vehicles : Secured against hypothecation of respective vehicles.

(ii) Working Capital Loans:

From Banks : Secured against hypothecation of stocks of Raw Material, Work-in-process, Finished Goods & Other Stocks and book debts, except Harita Seating Systems Ltd.

From others: Secured against hypothecation of book debts of Harita Seating Systems Ltd. and additionally secured by the personal guarantee of a director of the company.

Term Loans and Working Capital Loans from banks are collaterally secured by:

a) Equitable mortgage of land and building at plot no.17-18, Rojka Meo Industrial Estate, Tehsil Nuh, District Mewat, Haryana.

b) Hypothecation of all the Current Assets of the company.

c) First charge on all the other net block assets of the company.

d) First charge on the Companys property at 124, New Manglapuri, Mehrauli, New Delhi.

e) Negative lien on the property of land at Bawal Industrial Estate, Phase II, Haryana

f) Personal guarantees of two of the directors of the company.

5. Term Loan from others shown under Unsecured Loans in Schedule C - Loan Funds has been secured by third party property and by pledge of equity shares by a director.

6. In respect of the Domestic Factoring Facility availed by the company, the discounting charges have been provided as per the terms of the sanction letter. However, the factoring company has charged excess discounting charges of Rs. 46,51,209.60 to which the company disagrees and hence has not provided the same. Accordingly the profits of the company would have been lower by the said amount had the company accepted the excess charges of the factoring company.

7. Advertisement expenses in the nature of deferred revenue expenditure would be written off over the years when the benefit would be received.

8. A vehicle had been imported in an earlier year from Volkswagen AG through the managing director as per agreement between him and the company. As the vehicle is hypothecated to a bank, it will be registered in the name of the company after satisfaction of the loan.

9. The Board of Directors of the Company at its meeting held on 23rd July, 2007 issued zero coupon unsecured Foreign Currency Convertible Bonds (ÃFCCB) aggregating to US $ 10 million, at par. The bondholders have an option to convert these bonds into equity shares at an initial conversion price of Rs. 140/- per share at a fixed exchange rate (Rs. 40.34 = US $ 1). The conversion price may be reset on the first, second and third anniversaries of the Bonds. The reset conversion price cannot be lower than Rs. 98.15 or the applicable reset floor price as prescribed by SEBI from time to time. The conversion price will be subject to certain adjustments as detailed in the offering circular such as dilution, bonus, dividends, right issue etc. Unless previously redeemed, repurchased or converted, the company will redeem these bonds at 146.25 percent of the principal amount on 24th July, 2012. As at 31st March, 2010 none of the FCCB have been converted into equity shares and the balance of FCCB outstanding as on 31st March, 2010 have been included and disclosed in Schedule C - Loan Funds under the sub-heading Unsecured.

The company expects that the bond holders would opt for conversion rather than redemption and hence, in that case no premium would be payable and on that basis the same is not provided for. Maximum premium amount payable at current exchange rates is Rs.20,80,13,538/-.

10. Expenses on issue of Foreign Currency Convertible Bonds are being written off over five financial years.

11. The Company has not received any intimation from suppliers regarding their status under the Micro, Small & Medium Enterprises Development Act, 2006 and hence disclosures, if any, relating to amounts unpaid as at the year end together with interest paid / payable as required under the said Act have not been furnished.

12. All the operations of the company are considered as a single business segment for the purpose of Accounting Standard 17, Segment Reporting (AS17), issued by the Institute of Chartered Accountants of India.

13. Related Party Disclosures:

(I) Relationships

Key Management Personnel

Justice T.R. Handa (Retd.)

Mr. Rajan Handa

Mrs. Mamta Handa

Dr. Rajan Wadhera

Relatives

Mrs. Usha Handa

Note: Related party relationship is as identified by the company and relied upon by the Auditors.

14. Previous years figures have been regrouped wherever necessary to make them comparable with the current year.

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