Notes to Accounts of Parle Industries Ltd.

Mar 31, 2025

During the financial year, the Company issued 3,48,40,000 equity shares of Rs.10 each by way of preferential allotment, for consideration other than cash. The shares were allotted in accordance with the applicable provisions of the Companies Act, 2013 and relevant SEBI regulations. Consequently, the issued and paid-up share capital of the Company increased by Rs. 34,84,00,000. The preferential allotment was duly approved by the Board of Directors and shareholders, and necessary filings have been made with the Registrar of Companies.Further, the Company issued a legal notice dated June 11, 2025,for termaination of SPA with immidiate effect, the shareholders of WISPL and MVPL due to non payment of consideration which was to be paid by way of transfer of underlying shares of the said entities to the Company, as required under the terms of the share-swap agreement.

Note :- During the financial year, the Company issued 3,48,40,000 equity shares of Rs.10 each by way of preferential allotment, for consideration other than cash. The shares were allotted in accordance with the applicable provisions of the Companies Act, 2013 and relevant SEBI regulations. Consequently, the issued and paid-up share capital of the Company increased by Rs. 34,84,00,000. The preferential allotment was duly approved by the Board of Directors and shareholders, and necessary filings have been made with the Registrar of Companies.

(e) the rights, preferences and restrictions attaching to each class of shares including restrictions on the distribution of dividends and the repayment of capital;

(f) shares in respect of each class in the company held by its holding company or its ultimate holding company including shares held by subsidiaries or associates of the holding company or the ultimate holding company in aggregate;

(g) shares in the company held by each shareholder holding more than five per cent. shares specifying the number of shares held;

(h) shares reserved for issue under options and contracts or commitments for the sale of shares or disinvestment, including the terms and amounts;

(i) for the period of five years immediately preceding the date at which the Balance Sheet is prepared

• There are no aggregate number and class of shares allotted as fully paid up by way of bonus shares; and

• There are no aggregate number and class of shares bought back;

(j) terms of any securities convertible into equity shares issued along with the earliest date of conversion in descending order starting from the farthest such date;

(k) calls unpaid (showing aggregate value of calls unpaid by Directors and officers);

(l) forfeited shares.

The carrying amounts of trade receivables, cash and bank balances, current loans, current borrowings, and trade payables are considered to be approximately equal to the fair value.

I. Fair value hierarchy

The fair values of the financial assets and liabilities are included at the amount that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date.

This section explains the judgements and estimates made in determining the fair values of the financial instruments that are

(a) recognised and measured at fair value and,

(b) measured at amortised cost and for which fair values are disclosed in the financial statements.

To provide an indication about the reliability of the inputs used in determining fair value, the company has classified its financial instruments into the three levels prescribed under the Indian

accounting standard. An explanation of each level is as follows :

Level 1: Level 1 hierarchy includes financial instruments measured using quoted prices. For example, listed equity instruments that have quoted market price.

Level 2: The fair value of financial instruments that are not traded in an active market (for example, traded bonds, over-the- counter derivatives) is determined using valuation techniques which maximise the use of observable market data and rely as little as possible on entity-specific estimates. If all significant inputs required to fair value an instrument are observable, the instrument is included in level 2.

Level 3: If one or more of the significant inputs is not based on observable market data, the instrument is included in level 3. This is the case for unlisted equity securities, contingent consideration and indemnification asset included in level 3.

II. Valuation techniques used to determine fair value

Significant valuation techniques used to value financial instruments include:

• the fair value of forward foreign exchange contracts is determined using forward exchange rates at the balance sheet date.

Use of quoted market price or dealer quotes for similar instruments Using discounted cash flow analysis.

The fair values computed above for assets measured at amortised cost are based on discounted cash flows using a current borrowing rate. They are classified as level 2 fair values in the fair value hierarchy due to the use of unobservable inputs.

The company''s objectives when managing capital are to

• safeguard their ability to continue as a going concern, so that they can continue to provide returns for shareholders and benefits for other stakeholders, and

• maintain an optimal capital structure to reduce the cost of capital.

The capital structure of the Company is based on management''s judgement of the appropriate balance of key elements in order to meet its strategic and day-today needs. We consider the amount of capital in proportion to risk and manage the capital structure in light of changes in economic conditions and the risk characteristics of the underlying assets.

The management monitors the return on capital as well as the level of dividends to shareholders. The Company will take appropriate steps in order to

maintain, or if necessary adjust, its capital structure.

The Company has exposure to the following risks arising from financial instruments:

• Credit risk ;

• Liquidity risk ; and

• Market risk

A Credit Risk

Credit risk refers to the risk of default on its obligation by the counterparty resulting in a financial loss. The company is exposed to credit risk from its operating activities (primarily for trade receivables and loans) and from its financing activities (deposits with banks and other financial instruments).

Credit Risk Management

Credit risk is managed through credit approvals, establishing credit limits and continuously monitoring the credit worthiness of customers to which the Company grants credit terms in the normal course of business. The Company establishes an allowance for doubtful debts and impairment that represents its estimate of incurred losses in respect of trade and other receivables and investments.

The Company''s maximum exposure to credit risk as at 31 March,2025 and 2024 is the carrying value of each class of financial assets

ii Cash and Cash Equivalents

The Company held cash and bank balance with credit worthy banks of Rs. 8,32,066/- at 31st March 2025 , and (Rs. 3,93,796/- at March 31, 2024). The credit risk on cash and cash equivalents, other than Cheques in hand, is limited as the Company generally invests in deposits with banks where credit risk is largely perceived to be extremely insignificant.

B Liquidity Risk

Liquidity risk is defined as the risk that the Company will not be able to settle or meet its obligations on time or at a reasonable price. For the Company, liquidity risk arises from obligations on account of financial liabilities - trade payables and borrowings.

Liquidity Risk Management

The Company''s approach to managing liquidity is to ensure that it will have sufficient funds to meet its liabilities when due without incurring unacceptable losses. In doing this, management considers both normal and stressed conditions. A material and sustained shortfall in our cash flow could undermine the Company''s credit rating and impair investor confidence.

The Company maintained a cautious funding strategy, with a positive cash balance throughout the year ended 31st March, 2025 and 31st March, 2024. This was the result of cash delivery from the business. Cash flow from operating activities provides the funds to service the financing of financial liabilities on a day-to-day basis. The Company''s treasury department regularly monitors the rolling forecasts to ensure it has sufficient cash on-going basis to meet operational needs. Any short term surplus cash generated by the operating entities, over and above the amount required for working capital management and other operational

C Market Risk

Market risk is the risk that changes in market prices such as foreign exchange rates, interest rates and equity prices will affect the Compan/ s income or the value of its holdings of financial instruments. Market risk is attributable to all market risk sensitive financial instruments. The Company is exposed to market risk primarily related to interest rate risk and the market value of the investments.

i Currency Risk

The functional currency of the Company is Indian Rupee. Currency risk is not material, as the Company does not have any exposure in foreign currency.

ii Interest Rate Risk

Interest rate risk can be either fair value interest rate risk or cash flow interest rate risk. Fair value interest rate risk is the risk of changes in fair values of fixed interest bearing investments because of fluctuations in the interest rates. Cash flow interest rate risk is the risk that the future cash flows of floating interest bearing investments will fluctuate because of fluctuations in the interest rates.

Exposure to Interest Rate Risk

According to the Company interest rate risk exposure is only for floating rate borrowings. Company does not have any floating rate borrowings on any of the Balance Sheet date disclosed in this financial statements.

iii Price Risk

Price risk is the risk that the fair value of a financial instrument will fluctuate due to changes in market traded price. It arises from financial assets such as investments in quoted instruments.

a Fair Value sensitivity analysis for fixed rate instruments

The Company does not account for any fixed rate financial assets or financial liabilities at fair value through Profit or Loss. Therefore, a change in interest rates at the reporting date would not affect Profit or Loss.

b Cash Flow sensitivity analysis for variable rate Instruments

_The company does not have any variable rate instrument in Financial Assets or Financial Liabilities_

Note 33

The Company has two principal operating and reporting segments; viz. Infrastructure & real Estate & Paper Waste Recycling.

The accounting policies adopted for segment reporting are in line with the accounting policy of the Company with following additional policies for segment reporting.

a) Revenue and Expenses have been identified to a segment on the basis of relationship to operating activities of the segment. Revenue and Expenses which relate to enterprise as a whole and are not allocable to a segment on reasonable basis have been disclosed as "Unallocable".

b) Segment Assets and Segment Liabilities represent Assets and Liabilities in respective segments. Investments, tax related assets and other assets and liabilities that cannot be allocated to a segment on reasonable basis have been disclosed as "Unallocable".

Note 34 Additional Note:

The company is engaged in Infrastructure segment and holds inventories. Since it is stock in trade hence not required to be held in name of company. Title deeds of the

i immovable property not held in the name of company

The Management has confirmed that they have physically verified the Inventories of Infrastructure and Real Estate division of the Company comprises of open plots of land

ii underdeveloped land assets, therefore shown under the head inventories.

iii During the year, the Company has not revalued its Property, Plant and Equipment (including Right-of-Use Assets)

iv The company does not hold any intangible assets during the year

No proceedings have been initiated during the year or are pending against the Company as at March 31, 2024 for holding any benami property under the Benami

v Transactions (Prohibition) Act, 1988 (as amended in 2016) and rules made thereunder.

No Loans or Advances in the nature of loans has been granted to promoters, Directors, KMPs and the related parties (as defined under Companies Act, 2013) during the

vi year, other than the ICD as shown in Balance Sheet.

vii The Company has not been declared wilful defaulter by any bank or financial institution or government or any government authority.

viii The Company has not borrowed any amount from banks or financial institutions on the basis of security of current assets.

ix As per the information available with us, the Company did not have any transactions with companies struck off during the financial year

xi The Company has not traded or invested in Crypto currency or Virtual Currency during the financial year 2024-25.

xii The Company does not have any pending creation, satisfaction or registration of charge with ROC.

xiii No vendor has given MSME declaration hence no interest is due on amount dues to small/micro undertaking,

xiv There is no obligation in respect of gratuity and leave encashment during the year

Balances are relied upon as per books of accounts wherever the confirmations from debtors / creditors / Loans / Advances are not available. Debtors and Creditors Balances

xv are subject to Confirmation. Debtors & Creditors Balances are as per Management Representation and relied upon by the Auditors.

xvi Corporate Social Responsibility

Amount required to be spent by the Company

(a) During the Year 0

(b) Amount of expenditure incurred 0

(c) Nature of CSR Activities 0

No funds (which are material either individually or in the aggregate) 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 or entity, including foreign entity ("Intermediaries"), with the understanding, whether recorded in writing or otherwise, that the Intermediary shall, whether, directly or indirectly lend or invest in other persons or entities identified in any manner whatsoever by or on

xvii behalf of the Company ("Ultimate Beneficiaries") or provide any guarantee, security or the like on behalf of the Ultimate Beneficiaries

xviii There is no "undisclosed income" which has been reported by the Company during the assessment_

---

Mar 31, 2024

The carrying amounts of trade receivables, cash and bank balances, current loans, current borrowings, and trade payables are considered to be approximately equal to the fair value.

I. Fair value hierarchy

The fair values of the financial assets and liabilities are included at the amount that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date.

This section explains the judgements and estimates made in determining the fair values of the financial instruments that are

(a) recognised and measured at fair value and,

(b) measured at amortised cost and for which fair values are disclosed in the financial statements.

To provide an indication about the reliability of the inputs used in determining fair value, the company has classified its financial instruments into the three levels prescribed under the Indian accounting standard. An explanation of each level is as follows :

Level 1: Level 1 hierarchy includes financial instruments measured using quoted prices. For example, listed equity instruments that have quoted market price.

Level 2: The fair value of financial instruments that are not traded in an active market (for example, traded bonds, over-the- counter derivatives) is determined using valuation techniques which maximise the use of observable market data and rely as little as possible on entity-specific estimates. If all significant inputs required to fair value an instrument are observable, the instrument is included in level 2.

Level 3: If one or more of the significant inputs is not based on observable market data, the instrument is included in level 3. This is the case for unlisted equity securities, contingent consideration and indemnification asset included in level 3.

II. Valuation techniques used to determine fair value

Significant valuation techniques used to value financial instruments include:

o Use of quoted market price or dealer quotes for similar instruments o Using discounted cash flow analysis.

The fair values computed above for assets measured at amortised cost are based on discounted cash flows using a current borrowing rate. They are classified as level 2 fair values in the fair value hierarchy due to the use of unobservable inputs.

The Company has exposure to the following risks arising from financial instruments:

• Credit risk ;

• Liquidity risk ; and

• Market risk

A. Credit risk

Credit risk refers to the risk of default on its obligation by the counterparty resulting in a financial loss. The company is exposed to credit risk from its operating activities (primarily for trade receivables and loans) and from its financing activities (deposits with banks and other financial instruments).

Credit risk management

Credit risk is managed through credit approvals, establishing credit limits and continuously monitoring the credit worthiness of customers to which the Company grants credit terms in the normal course of business. The Company establishes an allowance for doubtful debts and impairment that represents its estimate of incurred losses in respect of trade and other receivables and investments.

The Company''s maximum exposure to credit risk as at 31 March,2024 and 2023 is the carrying value of each class of financial assets

ii Cash and Cash Equivalents

The Company held cash and bank balance with credit worthy banks of Rs. 3,93,796/- at 31st March 2024 , and (Rs. 22,03,032/- at March 31, 2023). The credit risk on cash and cash equivalents, other than Cheques in hand, is limited as the Company generally invests in deposits with banks where credit risk is largely perceived to be extremely insignificant.

B. Liquidity risk

Liquidity risk is defined as the risk that the Company will not be able to settle or meet its obligations on time or at a reasonable price. For the Company, liquidity risk arises from obligations on account of financial liabilities - trade payables and borrowings.

Liquidity risk management

The Company''s approach to managing liquidity is to ensure that it will have sufficient funds to meet its liabilities when due without incurring unacceptable losses. In doing this, management considers both normal and stressed conditions. A material and sustained shortfall in our cash flow could undermine the Company''s credit rating and impair investor

The Company maintained a cautious funding strategy, with a positive cash balance throughout the year ended 31st March, 2024 and 31st March, 2023. This was the result of cash delivery from the business. Cash flow from operating activities provides the funds to service the financing of financial liabilities on a day-to-day basis. The Company''s treasury department regularly monitors the rolling forecasts to ensure it has sufficient cash on-going basis to meet operational needs. Any short term surplus cash generated by the operating entities, over and above the amount required for working capital management and other operational requirements, are retained as cash and cash equivalents (to the extent required).

C. Market risk

Market risk is the risk that changes in market prices such as foreign exchange rates, interest rates and equity prices will affect the Company''s income or the value of its holdings of financial instruments. Market risk is attributable to all market risk sensitive financial instruments. The Company is exposed to market risk primarily related to interest rate risk and the market value of the investments.

i Currency Risk

The functional currency of the Company is Indian Rupee. Currency risk is not material, as the Company does not have any exposure in foreign currency.

ii Interest Rate Risk

Interest rate risk can be either fair value interest rate risk or cash flow interest rate risk. Fair value interest rate risk is the risk of changes in fair values of fixed interest bearing investments because of fluctuations in the interest rates. Cash flow interest rate risk is the risk that the future cash flows of floating interest bearing investments will fluctuate because of fluctuations in the interest rates.

Exposure to interest rate risk

According to the Company interest rate risk exposure is only for floating rate borrowings. Company does not have any floating rate borrowings on any of the Balance Sheet date disclosed in this financial statements. iii Price Risk

Price risk is the risk that the fair value of a financial instrument will fluctuate due to changes in market traded price. It arises from financial assets such as investments in quoted instruments.

a Fair value sensitivity analysis for fixed rate Instruments

The Company does not account for any fixed rate financial assets or financial liabilities at fair value through Profit or Loss. Therefore, a change in interest rates at the reporting date would not affect Profit or Loss. b Cash flow sensitivity analysis for variable rate Instruments

The company does not have any variable rate instrument in Financial Assets or Financial Liabilities.

The company''s objectives when managing capital are to

• safeguard their ability to continue as a going concern, so that they can continue to provide returns for shareholders and benefits for other stakeholders, and

• maintain an optimal capital structure to reduce the cost of capital.

The capital structure of the Company is based on management''s judgement of the appropriate balance of key elements in order to meet its strategic and day-today needs. We consider the amount of capital in proportion to risk and manage the capital structure in light of changes in economic conditions and the risk characteristics of the underlying assets.

The management monitors the return on capital as well as the level of dividends to shareholders. The Company will take appropriate steps in order to maintain, or if necessary adjust, its capital structure.

Additional Regulatory Information Note: 31

(i) Title deeds of Immovable Properties not held in name of the Company

The company is engaged in Infrastructure segment and holds inventories. Since it is stock in trade hence not required to be held in name of company

(ii) The Management has confirmed that they have physically verified the Investment Property and the Inventories of Infrastructure and Real Estate division of the Company comprises of open plots of land underdeveloped land assets, therefore shown under the head inventories.

(iii) During the year, the Company has not revalued its Property, Plant and Equipment (including Right-of-Use Assets).

(iv) The company does not hold any intangible assets during the year.

(v) No proceedings have been initiated during the year or are pending against the Company as at March 31, 2024 for holding any benami property under the Benami Transactions (Prohibition) Act, 1988 (as amended in 2016) and rules made thereunder.

(vi) No Loans or Advances in the nature of loans has been granted to promoters, Directors, KMPs and the related parties (as defined under Companies Act, 2013) during the year, other than the ICD as shown in Balance Sheet.

(vii) The Company has not been declared wilful defaulter by any bank or financial institution or government or any government authority.

(viii) The Company has not borrowed any amount from banks or financial institutions on the basis of security of current assets.

(ix) As per the information available with us, the Company did not have any transactions with companies struck off during the financial year.

(xi) The Company has not traded or invested in Crypto currency or Virtual Currency during the financial year 2023-24.

(xii) The Company does not have any pending creation, satisfaction or registration of charge with ROC.

(xiii) No vendor has given MSME declaration hence no interest is due on amount dues to small/micro undertaking,

(xiv) There is no obligation in respect of gratuity and leave encashment during the year.

(xv) Balances are relied upon as per books of accounts wherever the confirmations from debtors /creditors /Loans /Advances are not available. Debtors and Creditors Balances are subject to Confirmation. Debtors & Creditors Balances are as per Management Representation and relied upon by the Auditors.

(xvi) Corporate social responsibility

Amount required to be spent by the company

(a) during the year N.A

(b) Amount of expenditure incurred N.A

(c) Nature of CSR activities N.A

(xvii) No funds (which are material either individually or in the aggregate) 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 or entity, including foreign entity ("Intermediaries"), with the understanding, whether recorded in writing or otherwise, that the Intermediary shall, whether, 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.

(xviii) No funds (which are material either individually or in the aggregate) have been received by the Company from any person or entity, including foreign entity ("Funding Parties"), with the understanding, whether recorded in writing or otherwise, that the Company shall, whether, 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 provide any guarantee, security or the like on behalf of the Ultimate Beneficiaries.

(xix) There is no "undisclosed income" which has been reported by the Company during the assessment.

---

Mar 31, 2018

Rights, preferences and restrictions attached to shares

Equity shares: The Company has one class of equity shares having a par value of Rs. 10 per share. Each shareholder is eligible for one vote per share held. In the event of liquidation, the equity shareholders are eligible to receive the remaining assets of the Company after distribution of all preferential amounts, in proportion to their shareholding. However, no such preferential amounts exist currently. The distribution will be in proportion to the number of equity shares held by the shareholders.

A. Nature and Purpose of Reserves

available for capitalisation/de clarati on o f dividend/ share buy-back .

pursuant to the earlier provisions of Companies Act 1956. Mandatory transfer to general reserve is not required.

(c) Securities Premium Re serve: The amount received in excess of face value oe the equity shere s is recognised in S e curities Premiem Reserve. other distributions paid to shareholders.

(e) FVTOCI Equity Investments: The company has elected to recognise changes in the fiar value of certain investments in equity securities in other comprehensive income. These changes are accumulated within the FVTOCI Eqiuity Investments reserve within equity. The company transfers amount from this reserve to retained earnings when the relevant equity securities are derecognised.

I. Fair value hierarchy

The fair values of the financial assets and liabilities are included at the amount that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date.

This section explains the judgements and estimates made in determining the fair values of the financial instruments that are

(a) recognised and measured at fair value and,

(b) measured at amortised cost and for which fair values are disclosed in the financial statements.

To provide an indication about the reliability of the inputs used in determining fair value, the company has classified its financial instruments into the three levels prescribed under the Indian accounting standard. An explanation of each level follows underneath the table :

Level 1: Level 1 hierarchy includes financial instruments measured using quoted prices. For example, listed equity instruments that have quoted market price.

Level 2: The fair value of financial instruments that are not traded in an active market (for example, traded bonds, over-the-counter derivatives) is determined using valuation techniques which maximise the use of observable market data and rely as little as possible on entity-specific estimates. If all significant inputs required to fair value an instrument are observable, the instrument is included in level 2.

Level 3: If one or more of the significant inputs is not based on observable market data, the instrument is included in level 3. This is the case for unlisted equity securities, contingent consideration and indemnification asset included in level 3.

During the year ended 31 March 2018, 31 March 2017 and 01 April 2016, there have been no transfers amongst the levels of hierarchy.

II. Valuation techniques used to determine fair value

Significant valuation techniques used to value financial instruments include:

- use of quoted market price or dealer quotes for similar insrruments

- Using discounted cash flow analysis.

The Company’s activities expose it to credit risk, market risk and liquidity risk. The Company’s management oversees the management of these risks.

The Company’s principal financial liabilities comprise trade and other payables. The main purpose of these financial liabilities is to finance the Company’s operations. The Company’s principal financial assets include loans, trade and other receivables, and cash and cash equivalents that derive directly from its operations.

A. Credit risk

Credit risk refers to the risk of default on its obligation by the counterparty resulting in a financial loss. The company is exposed to credit risk from its operating activities (primarily for trade receivables) and from its financing activities (deposits with banks and other financial instruments).

Credit risk management

To manage credit risk, the Company follows a policy of providing 30 days credit to the domestic customers. In case of foreign debtors, the payment is backed by Letter of credit. The credit limit policy is established considering the current economic trends of the industry in which the company is operating.

However, the trade receivables are monitored on a periodic basis for assessing any significant risk of non-recoverability of dues and provision is created accordingly.

Bank balances are held with only high rated banks and majority of other security deposits are placed majorly with government agencies.

B. Liquidity risk

Liquidity risk is defined as the risk that the Company will not be able to settle or meet its obligations on time or at a reasonable price. For the Company, liquidity risk arises from obligations on account of financial liabilities - trade payables.

Liquidity risk management

The Company’s approach to managing liquidity is to ensure that it will have sufficient funds to meet its liabilities when due without incurring unacceptable losses. In doing this, management considers both normal and stressed conditions. A material and sustained shortfall in our cash flow could undermine the Company’s credit rating and impair investor confidence.

The Company maintained a cautious funding strategy, with a positive cash balance throughout the year ended 31st March, 2018 and 31st March, 2017. This was the result of cash delivery from the business. Cash flow from operating activities provides the funds to service the financing of financial liabilities on a day-to-day basis. The Company’s treasury department regularly monitors the rolling forecasts to ensure it has sufficient cash on-going basis to meet operational needs. Any short term surplus cash generated by the operating entities, over and above the amount required for working capital management and other operational requirements, are retained as cash and cash equivalents (to the extent required).

The company’s objectives when managing capital are to

- safeguard their ability to continue as a going concern, so that they can continue to provide returns for shareholders and benefits for other stakeholders, and

- maintain an optimal capital structure to reduce the cost of capital.

The capital structure of the Company is based on management’s judgement of the appropriate balance of key elements in order to meet its strategic and day-today needs. We consider the amount of capital in proportion to risk and manage the capital structure in light of changes in economic conditions and the risk characteristics of the underlying assets.

The management monitors the return on capital as well as the level of dividends to shareholders. The Company will take appropriate steps in order to maintain, or if necessary adjust, its capital structure.

NOTES FORMING PART OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2018

A. Company Overview:

Parle Software Limited (the ‘Company’) is a company limited by share, incorporated and domiciled in India with its registered office located at 403,Kane Plaza, Mind Space, Off. Link Road, Malad (W),Mumbai-400 064. The Company is engaged in the business of Infrastructure and Real Estate.

B. Basis Of Preparation & Measurement:

These financial statements have been prepared in accordance with Indian Accounting standards (hereinafter referred to as the ‘Ind AS’) notified by the Ministry of Corporate Affairs under section 133 of the Companies Act, 2013 (‘Act’) read with Rule 3 of the Companies (Indian Accounting Standards) Rules, 2015 (as amended) and Companies (Indian Accounting Standards) Amendment Rules, 2016 and the relevant provisions of the Act.

These financial statements are Company’s first Ind AS financial statements. For all periods upto and including the year ended 31st March, 2017 , the Company prepared its financial statements in accordance with the accounting standards notified under the section 133 of the Companies Act 2013, read together with paragraph 7 of the Companies (Accounts) Rules, 2014 (hereinafter referred to as ‘Previous GAAP’) used for its statutory reporting requirement in India immediately before adopting Ind AS. The financial statements for the year ended 31st March, 2017 and the opening Balance Sheet as at 1st April, 2016 have been restated in accordance with Ind AS for comparative information. Reconciliations and explanations of the effect of the transition from Previous GAAP to Ind AS on the Company’s Balance Sheet, Statement of Profit and Loss and Statement of Cash Flows are provided in note E.

The financial statements have been prepared on an accrual system, based on the principle of going concern and under the historical cost convention, unless otherwise stated.

Accounting policies have been consistently applied except where a newly issued accounting standard is initially adopted or a revision to an existing accounting standard requires a change in the accounting policy hitherto in use.

C. Critical Accounting Estimates and Judgments

The preparation of financial statements in accordance with Ind AS requires management to make certain judgments, estimates and assumptions in the application of accounting policies that affect the reported amounts of assets, liabilities, income and expenses. Actual results may differ from these estimates, with the differences between the same being recognized in the period in which the results are known or materialize. Continuous evaluation is done on the estimation and judgments based on historical experience and other factors, including expectations of future events that are believed to be reasonable. Revisions to accounting estimates are recognised prospectively.

Information about areas involving a higher degree of judgment or complexity or critical judgments in applying accounting policies, as well as estimates and assumptions that have the most significant effect to the carrying amounts of assets and liabilities are included in the following notes:

(a) Estimation of useful life - Note 18.1

(b) Recognition of deferred tax assets - Note 18.7

B. Other Notes On Accounts:

1) In the opinion of the management, the current assets, loans and advances have the values on realization in the ordinary course of business at least equal to the amounts at which they are stated in the balance sheet, except for trade receivables and loans and advances which are covered under the management’s policy in respect of bad and doubtful debts as taken in the previous years, if any.

2) Debit and Credit balances are subject to confirmation and reconciliation.

3) There are no dues to Micro, Small & Medium Enterprises as at Balance Sheet date and no interest has been paid to any such parties. This is based on the information on such parties identified on the basis of information available with the Company and relied upon by the auditors.

4) Related Parties Disclosures

1) Promoters Group

a. M/s. Eaugu Udyog Ltd.

b. M/s. Mantra Day Traders Pvt. Ltd.

c. M/s. Fortune Point Exports Pvt. Ltd.

2) Enterprises where control exists

Holding Company:

a. M/s. Eaugu Udyog Ltd.

3) Other Related Parties with whom the company had transactions during the year

a. Company under the same Management:

M/s. Hazoor Multi Projects Ltd.

b. Key Management Personnel

Mr. Vimal Maharajwala (appointed w.e.f. 14.08.2018)

Mr. V I. Garg - Managing Director (resigned w.e.f. 14.08.2018)

Mr. Sheena Karkera - Chief Financial Officer

Mr. Rakeshkumar D Mishra - Company Secretary & Compliance Officer

c. Others

Mr. Ashish Kankani - Non Executive Chairman

Ms. Chanda Garg - Director (resigned w.e.f. 14.08.2018)

i) The amount outstanding and maximum balance outstanding at any time during the Year (figures in bracket pertains to previous Year).

5) The previous year figures have been regrouped /reclassified wherever considered necessary. Figures have been rounded off to the nearest rupee.

The accompanying notes are an integral part of the financial statements.

---

Mar 31, 2015

1. Terms/rights attached to equity shares

The Company has only one class of shares referred to as equity shares having a par value of Rs. 10/- 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 any of the remaining assets of the company, after distribution of all preferential amounts. However, no such preferential amounts exist currently. The distribution will be inproportion to the number of equity shares held by the shareholders.

2.1 There are no Micro, Small and Medium Enterprises in respect of whom the Company dues are outstanding for more than 45 days at the Balance Sheet date. The above information regarding Micro, Small and Medium enterprises have been determined to the extent such parties have been identifiable on the basis of information abailable with the Company and relied upon by the auditors.

2.2 Trade payables are subject to confirmation from certain parties.

3 Salaries and Bonus paid to Mr. Sheena Karkera, Chief Financial Officer of Rs. 3,25,000/- (P.Y.3,15,000/-)

4 Income Taxes:

Provisions for current tax is made against current year profit, in terms of the provisions of the Income Tax Act, 1961.

5 Deferred Tax :

Deferred Tax assets is provided for as per Accounting Standard 22 issued by the Institute of Chartered Accountants of India.

6 Remuneration Paid/Payable to Directors and other Chief Managerial Personnel as per Section 217(2A) of the Companies Act, 1956 read with the Companies (Particulars of Employees) Rules, 1975 as amended, the number of employees employed for the whole year drawing salary of Rs. 60,00,000/- per annum or more is NIL and the number of employees employed for part of the year drawing salary of Rs. 5,00,000/- per month or more is also NIL.

7 In the Opinion of Board of Directors, all 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 and all the known liabilities as at the end of year have been provided for.

8 Segment Reporting:

The company operate in a single business segment of "Infrastructure & Real Estate".

9 The provisions of payment of Gratuity Act, 1972 are not applicable to the company.

10 The provisions of PF / ESIC Act are not applicable to the company.

11 There is no amount due and outstanding to be credited to Investor Education and Protection Fund.

12 During the year, pursuant to the notification of Schedule II to the Companies Act, 2013 with effect from April 01, 2014, the Company revised the estimated useful life of relevant assets to align the useful life with those specified in Schedule II.

13 Disclosure of related parties / related party trasnactions:

As per Accounting Standard (AS) - 18 of The Companies (Accounting Standards) Rules, 2006, the list of related parties where control exists and related parties with whom transactions have taken place and relationships are as under:

a List of Related Parties and Description of Relationships

Promoters Group

M/s. Eaugu Udyog Ltd.*

M/s. Mantra Day Traders Pvt. Ltd.*

M/s. Fortune Point Exports Pvt. Ltd.*

* all the three co-promoters of your company are members of the same "Group", as that expression is defined in MRTP Act 1969.

b Enterprises where control exists

Holding Company:

M/s. Eaugu Udyog Ltd.

c Other Related Parties with whom the company had transactions during the year

i Company under the same Management:

M/s. Hazoor Multi Projects Ltd. M/s. Aambey Valley Mountains Pvt. Ltd. (formerly known as: Hazoor Aambey Valley Developers Pvt. Ltd.)

ii Key Management Personnel:

Mr. V I Garg - Managing Director

Mr Sheena Karkera - Chief Financial Officer (C.F.O.)

Mr. Rakeshkumar D Mishra - Company Secretary & Compliance Officer (w.e.f 01.04.2015)

iii Others

Mr. Ashish Kankani - Non Executive Chairman

Ms. Chanda Garg - Director

Note: Related party relationships are identified by the Company and relied upon by the Auditors.

14 No Advances recoverable in cash or in kind or for value to be received include amounts due from companies under the same management within the meaning of Section 370 (1B) of the erstwhile Companies Act, 1956.

15 Details of Loans given, Investment made and Guarantee given covered under section 186(4) of the Companies Act, 2013:

(i) The Company has not given any loans or guarantees.

(ii) No Investment made by the Company as at 31st March, 2015.

16 The previous year figures have been regrouped / reclassified, wherever necessary to conform to the current presentation.

---

Mar 31, 2014

1 a. Terms/rights attached to equity shares

The Company has only one class of shares referred to as equity shares having a par value of Rs. 10/- 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 any of the remaining assets of the company, after distribution of all preferential amounts. However, no such preferential amounts exist currently. The distribution will be inproportion to the number of equity shares held by the shareholders.

2 Income Taxes:

Provisions for current tax is made against current year profit, in terms of the provisions of the Income Tax Act, 1961.

3 Remuneration Paid/Payable to Directors and other Chief Managerial Personnel as per Section 217(2A) of the Companies Act, 1956 read with the Companies (Particulars of Employees) Rules, 1975 as amended, the number of employees employed for the whole year drawing salary of Rs. 60,00,000/- per annum or more is NIL and the number of employees employed for part of the year drawing salary of Rs. 5,00,000/- per month or more is also NIL.

4 In the Opinion of Board of Directors, all 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 and all the known liabilities as at the end of year have been provided for.

5 Segment Reporting:

The company operate in a single business segment of "Infrastructure & Real Estate".

6 The provisions of payment of Gratuity Act, 1972 are not applicable to the company.

7 The provisions of PF / ESIC Act are not applicable to the company.

8 There is no amount due and outstanding to be credited to Investor Education and Protection Fund.

9 There are no Micro, Small and Medium Enterprises in respect of whom the Company dues are outstanding for more than 45 days at the Balance Sheet date. The above information regarding Micro, Small and Medium enterprises have been determined to the extent such parties have been identifiable on the basis of information abailable with the Company and relied upon by the auditors.

10 The previous year figures have been regrouped / reclassified, wherever necessary to conform to the current presentation.

---

Mar 31, 2013

1 Deferred Tax :

Deferred Tax liability is provided for as per Accounting Standard 22 issued by the Institute of Chartered Accountants of India.

2 Remuneration Paid/Payable to Directors and other Chief Managerial Personnel as per Section 217(2A) of the Companies Act, 1956 read with the Companies (Particulars of Employees) Rules, 1975 as amended, the number of employees employed for the whole year drawing salary of Rs. 60,00,000/- per annum or more is NIL and the number of employees employed for part of the year drawing salary of Rs. 5,00,000/- 23 In the Opinion of Board of Directors, all 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 and all the known liabilities as at the end of year have been

3 Segment Reporting:

The company and its associates operates in a single business segment of "Infrastructure & Real Estate".

4 Related Party Disclosures:

a List of Related Parties and Description of Relationships i. Promoters Group

M/s. Eaugu Udyog Ltd.*

M/s. Mantra Day Traders Pvt. Ltd.*

M/s. Fortune Point Exports Pvt. Ltd.*

* all the three co-promoters of your company are members of the same "Group", as that expression is defined in MRTP Act 1969. ii. Associates:

Hazoor Township Developers Pvt. Ltd.

iii Company under the same Management: M/s. Hazoor Multi Projects Ltd. M/s. Hazoor Aambey Valley Developers Pvt. Ltd.

iv Key Managerial Personnel: Mr. V I Garg

5 Advances recoverable in cash or in kind or for value to be received include amounts due from companies under the same management within the meaning of Section 370 (1B) of the Companies Act, 1956 as given below :

6 The provisions of payment of Gratuity Act, 1972 are not applicable to the company.

7 The provisions of PF / ESIC Act are not applicable to the company.

8 There is no amount due and outstanding to be credited to Investor Education and Protection Fund.

9 The previous year figures have been regrouped / reclassified, wherever necessary to conform to the current presentation.

---

Mar 31, 2012

A. Terms/rights attached to equity shares

The Company has only one class of shares referred to as equity shares having a par value of Rs. 10/- 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 any of the remaining assets of the company, after distribution of all preferential amounts. However, no such preferential amounts exist currently. The distribution will be inproportion to the number of equity shares held by the shareholders.

a. The Company has no dues to micro small enterprises during the year ended 31/03/2012.

b. There are no amounts due and outstanding to be credited to investor Educations and Protection Fund.

1 Income Taxes:

No provisions for current tax is made in view of the loss for the year, in terms of the provisions of the Income Tax Act, 1961.

2 Deferred Tax :

Deferred Tax liability is provided for as per Accounting Standard 22 issued by the Institute of Chartered Accountants of India.

3 Remuneration Paid/Payable to Directors and other Chief Managerial Personnel as per Section 217(2A) of the Companies Act, 1956 read with the Companies (Particulars of Employees) Rules, 1975 as amended, the number of employees employed for the whole year drawing salary of Rs. 60,00,000/- per annum or more is NIL and the number of employees employed for part of the year drawing salary of Rs. 5,00,000/- per month or more is also NIL.

4 In the Opinion of Board of Directors, all 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 and all the known liabilities as at the end of year have been provided for.

5 Segment Reporting:

The company and its associates operates in a single business segment of "Infrastructure & Real Estate".

6 Related Party Disclosures:

a List of Related Parties and Description of Relationships

i. Promoters Group

M/s. Eaugu Udyog Ltd.*

M/s. Mantra Day Traders Pvt. Ltd.*

M/s. Fortune Point Exports Pvt. Ltd.*

* all the three co-promoters of your company are members of the same "Group", as that expression is defined in erstwhile MRTP Act 1969.

ii. Associates:

Hazoor Township Developers Pvt. Ltd.

iii Company under the same Management:

M/s. Hazoor Multi Projects Ltd.

M/s. Hazoor Aambey Valley Developers Pvt. Ltd.

iv Key Managerial Personnel:

Mr. V I Garg

Note: Related party relationships are identified by the Company and relied upon by the Auditors.

7 Advances recoverable in cash or in kind or for value to be received include amounts due from companies under the same management within the meaning of Section 370 (1B) of the Companies Act, 1956 as given below :

8 The provisions of payment of Gratuity Act, 1972 are not applicable to the company.

9 The provisions of PF / ESIC Act are not applicable to the company.

10 There is no amount due and outstanding to be credited to Investor Education and Protection Fund.

11 The previous year figures have been regrouped / reclassified, wherever necessary to conform to the current presentation.

---

Mar 31, 2011

Company overview

1. The company is carrying out Infrastructure & Real Estate Development activities through its associate Hazoor Township Developers Pvt. Ltd (HTDPL) who are operating in the segment of Infrastructure & Real Estate Development. The Associate is carrying out the development of Housing Project comprising of affordable apartments and convenient shopping catering to middle income group in Pune city.

1. Amounts in the financial statements are presented in Rupees and figures have been rounded off to nearest rupee wherever applicable.

2.The previous year figures have been regrouped / reclassified, wherever necessary to conform to the current presentation.

3.Other operative income of Rs. 188.39 lacs represents surplus on cost of Investments in Associates during the Quarter as per AS- 13 " Accounting for Investments" issued by the Institute of Chartered Accountants of India (ICAI)/Company (Accounting Standards) Rules, 2006. These surplus was recognized as 'Share of Profit from Associates' in Consolidated Financial Statements of the company of earlier years on the basis of Equity Method as prescribed in AS – 23 " Accounting for Investment in Associates" issued by the Institute of Chartered Accountants of India (ICAI)/Company (Accounting Standards) Rules, 2006.

4.Quantitative Information:

The Company is engaged in the development of computer Software and Infrastructure/ Real Estate Developments. Therefore, the provisions of clause 3 (ii) of Schedule VI of Part II of Companies Act, 1956 are not applicable to the company and hence no quantitative details are given.

5. Income Taxes:

Provisions for current tax is made in view of the Profit for the period, in terms of the provisions of the Income Tax Act, 1961.

6.Remuneration Paid/Payable to Directors and other Chief Managerial Personnel as per Section 217(2A) of the Companies Act, 1956 read with the Companies (Particulars of Employees) Rules, 1975 as amended, the number of employees employed for the whole period drawing salary of Rs. 60,00,000/- per annum or more is NIL and the number of employees employed for part of the year drawing salary of Rs.5,00,000/- per month or more is also NIL.

7.In the Opinion of Board of Directors, all 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 and all the known liabilities as at the end of period have been provided for.

8. Segment Reporting:

The company operates in multi segment of Software and Infrastructure/ Real Estate Developments and accordingly segment wise Result have been provided as per Accounting Standards - 17 (AS-17) issued by the Institute of Chartered Accountants of India (ICAI)/Company (Accounting Standards) Rules, 2006.

9. Related Party Disclosures:

a) List of Related Parties and Description of Relationships

i.Promoters Group

M/s. Eaugu Udyog Ltd.*

M/s. Mantra Day Traders Pvt. Ltd.* along with their individuals promoter shareholder

M/s. Fortune Point Exports Pvt. Ltd.* along with their individuals promoter shareholder

* all the above co-promoters of your company are members of the same "Group", as that expression is defined in MRTP Act 1969.

ii. Associates:

Hazoor Township Developers Pvt. Ltd.

iii. Company under the same Management:

M/s. Hazoor Multi Projects Ltd.

M/s. Hazoor Aambey Valley Developers Pvt. Ltd.

iv. Key Managerial Personnel:

Mr. Vikas Shukla

Ms. Anjali Modi

Note: Related party relationships are identified by the Company and relied upon by the Auditors.

10. The company has no dues to micro small enterprises during the period ended 31st March, 2011.

11. The provisions of payment of Gratuity Act, 1972 are not applicable to the company.

12. The provisions of PF / ESIC Act are not applicable to the company.

13. During the year company has changed its financial year ending from 31st July to 31st March and accordingly current period comprises of 8 months ending as on 31st March, 2011.

14. The Corresponding previous year was comprising of 8 months as the financial year ending is changed from 31st July to 31st March, therefore figures for the current period is not comparable with corresponding period in the previous year

15. There is no amount due and outstanding to be credited to Investor Education and Protection Fund.