Notes to Accounts of RDB Infrastructure and Power Ltd.

Mar 31, 2025

l) Provisions, Contingent Liabilities and Contingent

Assets

Provisions are recognized for liabilities that can be measured
only by using a substantial degree of estimation if the
company has a present obligation as a result of past event
and the amount of obligation can be reliably estimated.

If the effect of the time value of money is material,
provisions are discounted using a current pre-tax rate that
reflects, when appropriate, the risks specific to the liability.
When discounting is used, the increase in the provision due
to the passage of time is recognised as a finance cost.

Possible future or present obligations that may, but will
probably not require outflow of resources or where the
same cannot be reliably estimated is disclosed as contingent
liability in the financial statement.

m) Taxes on Income

i. Tax expense comprises both current and
deferred tax. Current tax is determined in
respect of taxable income for the year based on
applicable tax rates and laws.

ii. Deferred tax Asset/liability is recognized,
subject to consideration of prudence, on timing
differences being the differences between
taxable incomes and accounting income that
originates in one year and is capable of reversal
in one or more subsequent year and measured
using tax rates and laws that have been enacted
or substantively enacted by the Balance Sheet
date. Deferred tax assets are not recognized
unless there is virtual certainty that sufficient
future taxable income will be available against
which such deferred tax assets can be realized.
Deferred tax assets are reviewed at each Balance
Sheet date to reassess their reliability.

n) Foreign Currency Transactions

Foreign currency denominated monetary assets and
liabilities are translated at exchange rates in effect at
Balance Sheet date. The gains or losses resulting from such
translation are included in the Statement of Profit and

Loss. Non-monetary assets and non- monetary liabilities
denominated in a foreign currency are translated at the
exchange rate prevalent at the date of transactions.

Revenue, expense and cash flow items denominated in
foreign currencies are translated using the exchange rate in
effect on the date of transaction.

o) Segment Reporting

The Company has identified that its operating activity
is a single primary business segment viz. Real Estate
Development and Services carried out in India. Accordingly,
whole of India has been considered as one geographical
segment

p) Earnings Per Share

Basic earnings per share are calculated by dividing the
net profit or loss for the year attributable to equity
shareholders by the weighted average number of equity
shares outstanding during the year.

For the purpose of calculating diluted earnings per share,
the net profit or loss for the year attributable to equity
shareholders and the weighted average number of shares
outstanding during the year are adjusted for the effects of
all dilutive potential equity shares.

q) Cash & Cash Equivalents

Cash and cash equivalents comprises of cash & cash
on deposit with banks and corporations. The Company
considers all highly liquid investments with a remaining
maturity at the date of purchase of three months or less,
which are subject to an insignificant risk of changes in value,
net of outstanding bank overdrafts as they are considered
an integral part of the Company''s cash management and
that are readily convertible to known amounts of cash to be
cash equivalents.

r) Financial Instruments

? Financial Instruments -Initial recognition and
measurement

Financial assets and financial liabilities are
recognized in the Company''s statement of
financial position when the Company becomes
a party to the contractual provisions of the
instrument. The Company determines the
classification of its financial assets and liabilities
at initial recognition. All financial assets are
recognized initially at fair value plus, in the case
of financial assets not recorded at fair value
through profit or loss, transaction costs that are
attributable to the acquisition of the financial
asset.

? Financial assets -Subsequent measurement

The Subsequent measurement of financial assets

depends on their classification which is as
follows:

â¢ Financial assets at fair value through profit or
loss

Financial assets at fair value through profit and
loss include financial assets held for sale in the
near term and those designated upon initial
recognition at fair value through profit or loss.

â¢ Financial assets measured at amortized cost
Loans and receivables are non derivative financial
assets with fixed or determinable payments that are
not quoted in an active market. Trade receivables do
not carry any interest and are stated at their nominal
value as reduced by appropriate allowance for
estimated irrecoverable amounts based on the ageing
of the receivables balance and historical experience.
Additionally, a large number of minor receivables are
grouped into homogenous groups and assessed for
impairment collectively. Individual trade receivables
are written off when management deems them not to
be collectible.

â¢ Financial assets at fair value through OCI

All equity investments falling within the scope of Ind
AS 109, are measured at fair value through Other
Comprehensive Income (OCI). The Company makes an
irrevocable election on an instrument-by-instrument
basis to present in other comprehensive income
subsequent changes in the fair value. The classification
is made on initial recognition and is irrevocable. If the
Company decides to designate an equity instrument
at fair value through OCI, then all fair value changes on
the instrument, excluding dividends, are recognized in
the OCI.

â¢ Financial assets -Derecognition

The Company derecognizes a financial asset when
the contractual rights to the cash flows from the
assets expire or it transfers the financial asset and
substantially all the risks and rewards of ownership of
the asset. Upon derecognition of equity instruments
designated at fair value through OCI, the associated
fair value changes of that equity instrument is
transferred from OCI to Retained Earnings.

â¢ De-recognition

A financial asset (or, where applicable, a part of a
financial asset or part of a Group of similar financial
assets) is primarily de-recognised when:

? The right to receive cash flows from the asset
have expired, or

? The Group has transferred its rights to receive
cash flows from the asset or has assumed an

obligation to pay the received cash flows in full
without material delay to a third party under a
''pass-through'' arrangement; and either (a) the
Group has transferred substantially all the risks
and rewards of the asset, or (b) the Group has
neither transferred nor retained substantially
all the risks and rewards of the asset, but has
transferred control of the asset.

When the Group has transferred its rights to receive
cash flows from an asset or has entered into a
pass-through arrangement, it evaluates if and to
what extent it has retained the risks and rewards
of ownership. When it has neither transferred nor
retained substantially all of the risks and rewards of
the asset, transferred control of the asset, the Group
continues to recognise the transferred asset to the
extent of the Group''s continuing involvement. In that
case, the Group also recognises an associated liability.
The transferred asset and the associated liability
are measured on a basis that reflects the rights and
obligations that the Group has retained.

â¢ Financial liabilities -

Initial recognition and measurement
Financial liabilities are classified, at initial recognition,
as financial liabilities at fair value through profit or loss,
loans and borrowings, or as payables, as appropriate.
The Group''s financial liabilities include trade and
other payables, loans and borrowings including bank
overdrafts.

Subsequent measurement

The subsequent measurement of financial liabilities
depends on their classification which isas follows:

â¢ Financial liabilities at fair value through profit or
loss

Financial liabilities at fair value through profit or loss
include financial liabilities held for trading, if any, and
financial liabilities designated upon initial recognition
as at fair value through profit or loss. Financial
liabilities are classified as held for trading if they are
incurred for the purpose of repurchasing in the near
term.

Gains or losses on the liabilities held for trading are
recognised in the profit or loss.

â¢ Financial liabilities measured at amortized cost
Interest bearing loans and borrowings including
debentures issued by the company are subsequently
measured at amortized cost using the effective interest
rate method (EIR). Amortized cost is calculated by
taking into account any discount or premium on
acquisition and fee or costs that are integral part of

the EIR. The EIR amortized is included in finance costs
inthe statement of profit and loss.

â¢ Financial liabilities -Derecognition
A financial liability is derecognized when the obligation
under the liability is discharged or expires.

s) Fair Value measurement

The Company measures certain financial instruments at fair
value at each reporting date. Fair value is the price 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. The fair value measurement is based
on presumption that the transaction to sell the asset or
transfer the liability takes place either:

o In the principal market for the assets or liability;
or

o In the absence of a principal market, in the most
advantageous market for the asset or liability.
The principal or the most advantageous market
must be accessible to the company. The Company
uses valuation technique that are appropriate in
the circumstances and for which sufficient data are
available to measure fair value, maximizing the use of
relevant observable inputs and minimizing the use of
unobservable inputs.

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

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

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

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

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

t) Impairment of financial assets

The Company assesses at each date of balance sheet whether
a financial asset or a group of financial assets is impaired.
Ind AS 109 requires expected credit losses to be measured

through a loss allowance. The Company recognizes lifetime
expected losses for all contract assets and/or all trade
receivables that do not constitute a financing transaction.
For all other financial assets, expected credit losses are
measured at an amount equal to the 12-month expected
credit losses or at an amount equal to the life time expected
credit losses, if the credit risk on the financial asset has
increased significantly since initial recognition.

u) Lease

a. Where the Company is the lessee

The company recognises a right-of-use asset and a lease
liability at the lease commencement date. The right-of-
use asset is initially measured at cost, which comprises the
initial amount of the lease liability adjusted for any lease
payments made at or before the commencement date, plus
any initial direct costs incurred and an estimate of costs to
dismantle and remove the underlying asset or to restore
the underlying asset or the site on which it is located, less
any lease incentives received.

The right-of-use asset is subsequently depreciated using the
straight-line method from the commencement date to the
earlier of the end of the useful life of the right-of-use asset
or the end of the lease term. The estimated useful lives of
right-of-use assets are determined on the same basis as
those of property and equipment. In addition, the right-of-
use asset is periodically reduced by impairment losses, if
any, and adjusted for certain re-measurements of the lease
liability.

The lease liability is initially measured at the present value of
the lease payments that are not paid at the commencement
date, discounted using the interest rate implicit in the lease
or, if that rate cannot be readily determined, company''s
incremental borrowing rate.

Generally, the company uses its incremental borrowing rate
as the discount rate.

Lease payments included in the measurement of the lease
liability comprise the following:

- Fixed payments, including in-substance fixed
payments;

- Variable lease payments that depend on an
index or a rate, initially measured using the
index or rate as at the commencement date;

- Amounts expected to be payable under a
residual value guarantee; and

- The exercise price under a purchase option that
the company is reasonably certain to exercise,

lease payments in an optional renewal period
if the company is reasonably certain to exercise
an extension option, and penalties for early
termination of a lease unless the company is
reasonably certain not to terminate early.
b. Where the Company is the lessor
Assets subject to operating leases are included in fixed
assets. Lease income is recognised in the statement of profit
and loss on a straight- line basis over the lease term. Costs,
including depreciation are recognised as an expense in the
statement of Profit & Loss. Initial direct costs such as legal
costs, brokerage costs, etc. are recognised immediately in
the statement of Profit & Loss.

Assets given under a finance lease are recognised as a
receivable at an amount equal to the net investment in
the lease. Lease income is recognised over the period of
the lease so as to yield a constant rate of return on the net
investment in the lease. Initial direct costs relating to assets
given on finance leases are charged to Statement of Profit
& Loss.

V. Standards issued but not effective

There are no standards issued but not effective up to the
date of issuance of the Company''s financial statements.

V.1 New and amended standards

The Ministry of Corporate Affairs (MCA) has notified
Companies (Indian Accounting Standards) Rules, 2024 to
amend the following Ind AS which are effective for annual
periods beginning on or after April 1, 2024.

The Company has not early adopted any standard,
interpretation or amendment that has been issued but is
not yet effective.

(i) Ind AS 117 Insurance Contracts

The Ministry of Corporate Affairs (MCA) notified the
Ind AS 117, Insurance Contracts, vide notification
dated 12 August 2024, under the Companies (Indian
Accounting Standards) Amendment Rules, 2024

(ii) Amendments to Ind AS 116 Leases - Lease Liability in
a Sale and Leaseback

The MCA notified the Companies (Indian Accounting
Standards) Second Amendment Rules, 2024, which
amend Ind AS 116, Leases, with respect to Lease
Liability in a Sale and Leaseback
The above amendments do not have any impact on
the Company''s standalone financial statements.

39 CAPITAL REQUIREMENTS

For the purpose of The Company''s capital management, capital includes issued equity capital, share premium and all
other equity reserves attributable to the equity holders of the Company. The Objective of capital management is to
maximise the shareholder value.

The Company Manages its Capital structure and makes adjustments in light of changes in economic conditions and
the requirements of the financial covenants. The company may adjust the dividend payment to shareholders, return
capital to shareholders or issue new shares. The company monitors capital using a gearing ratio, which is net debt
divided by total capital plus net debt. The company includes within net debt, interest bearing loans and borrowings,
trade and other payable less cash and cash equivalents.

In order to achieve this overall, the company''s capital management, amongst other things, aims to ensure that it meets
financial covenants attached to the interest bearing loans and borrowings that define capital structure requirements.
Breaches in meeting the financial covenants would permit the bank to immediately call loan and borrowings. there have
been no breaches in the financial covenants of any interest bearing loans and borrowing in the current period.

No changes were made in the objectives, policies or processes for managing capital during the year ended March 31 2024
and March 31 2025.

DISCLOSURE OF FINANCIAL INSTRUMENTS
Financial risk management objectives and policies

The Company''s principal financial liabilities comprise loans and borrowings, trade and other payables. The main purpose of
these financial liabilities is to finance and support company''s operations. The Company''s principal financial assets include
trade and other receivables, cash and cash equivalents and loans and advances and refundable deposits that derive directly
from its operation.

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

A) Market Risk:

Market risk is the risk that the fair value of future cash flows of a financial instrument will fluctuate because of changes in
market prices. Market risk comprises of two types of risk: interest rate risk and other price risk: such as equity price risk and
commodity/ real estate risk. The company has not entered into any foreign exchange or commodity derivative contracts.
Accordingly, there is no significant exposure to the market risk other than interest risk.

i) Interest Rate Risk

Interest rate risk is the risk that the fair value or future cash flows of a financial instrument will fluctuate because of changes
in market interest rates. The company''s exposure to the risk of changes in market interest rates relates primarily to the
company''s long-term debt obligations with floating interest rates.

The company manages its interest rate risk by having a balanced portfolio of fixed and variable rate loans and borrowings.
Most of the Borrowings of the Company are unsecured and at fixed rates. The company has only one cash credit account
which is linked to the prime bank lending rate. The company does not enter into any interest rate swaps.

ii) Price Risk

The Company has not made any investments for trading purposes. The Surplus have been deployed in Bank deposits as
explained above.

B) Credit Risk

Credit risk is the risk that counterparty will not meet its obligations under a financial instrument or customer contract,
leading to a financial loss. The Company is exposed to credit risk from its operating activities (primarily trade receivables)
and from its financing activities, including refundable joint development deposits, security deposits, loans to employees
and other financial instrument.

Trade Receivables

Receivables resulting from Sale of Properties: Customer credit risk is managed by requiring customers to pay advances
before transfer of ownership, therefore,substantially eliminating the company''s credit risk in this respect.

Receivables resulting from other than Sale of properties: Credit risk is managed by each business unit subject to the
company''s established policy, procedure and control relating to customer credit risk management. Outstanding customer
receivables are regularly monitored. The impairment analysis is performed at each reporting date on an individual basis
for major clients. In addition, a large number of minor receivables are grouped into homogeneous groups and assessed
for impairment collectively. The Maximum exposure to credit collateral as security. The Company''s credit period generally
ranges from 30-60 days.

The ageing of trade receivable : Refer note 6

Deposits with Banks and financial institutions

Credit risk from balances with banks and financial institutions is managed by the company''s treasury department in
accordance with the company''s policy. Investment of surplus funds are made only with approved counterparties and within
credit limits assigned to each counterparty.

Counterparty credit limits are reviewed by the company''s Board of Directors on annual basis, and may be updated
throughout the year subject to approval of the Board.

C) Liquidity Risk

The Company''s investment decisions relating to deployment of surplus liquidity are guided by the tenets of safety, liquidity
and return. The Company manages its liquidity risk by ensuring that it will always have sufficient liquidity to meet its
liabilities when due. In case of short term requirements, it obtains short-term loans from its Bankers.

40 ADDITIONAL INFORMATION AND DISCLOSURES

i) Company has used the borrowings from banks and financial institutions for the specific purpose for which it was
taken at the balance sheet date

ii) No proceedings have been initiated or pending against the company for holding any benami property under the
Benami Transactions (Prohibition) Act, 1988 (45 of 1988) and the rules made thereunder.

iii) The Company has not been declared as wilful defaulter by and bank or institution or other lender

iv) To the best of the information available, the company has not entered into any transactions with companies
struck off under section 248 of the Companies Act, 2013 or section 560 of Companies Act, 1956

v) Company has created and satisfied charges and registered the same with Registrar of Companies as detailed
below:

vii) The Company has not traded or invested in Crypto currency or virtual currency during the financial year.

41 The figures of previous year have been recast, regrouped where ever considered necessary.

For LB Jha & Co

Chartered Accountants For and on behalf of the Board of Directors of

Firm Registration No.301088E RDB Infrastructure and Power Ltd

(Formerly known as RDB Realty & Infrastructure Limited)

Sd/- Sd/- Sd/- Sd/-

Ranjan Singh Rajeev Kumar Amit Kumar Goyal Aman Sisodia

Partner Whole Time Director Managing Director and CFO Company Secretary

Membership No.305423 Din No.07003686 Din No.05292585 & Compliance Officer

Place: Kolkata
Date - 27th May 2025

Mar 31, 2024

34 Contingent Liabilities:

a) On account of Guarantee ^ 29.97 Crores (Previous year ^20.16 Crores) issued by the Company''s bankers to the contractee for projects under EPC Division.

Capital Requirements

For the Purpose of the Company''s Capital Management, Capital includes issued equity capital, share premium and all other equity reserves attributable to the equity holders of the company''s capital management is to maximise the shareholder value.

The Company Manages its Capital structure and makes adjustments in light of changes in economic conditions and the requirements of the financial covenants. To maintain or adjust the capital structure. The company may adjust the dividend payment to shareholders,return capital to shareholders or issue new shares. the company monitors capital using a gearing ratio, which is net debt dividend by total capital plus net debt. the company includes within net debt, interest bearing loans and borrowings, trade and other payable less cash and cash equivalents.

In order to achieve this overall, the company''s capital management, amongst other things, aims to ensure that it meets financial covenants attached to the interest bearing loans and borrowings that define capital structure requirements. Breaches in meeting the financial covenants would permit the bank to immediately call loan and borrowings. there have been no breaches in the financial covenants of any interest bearing loans and borrowing in the current period.

No changes were made in the objectives, policies or processes for managing capital during the years ended March 31 2023 and March 31 2024.

Disclosure of Financial Instruments

Financial risk management objectives and policies

The Company''s principal financial liabilities comprise loans and borrowings, trade and other payables. The main purpose of these financial liabilities is to finance and support company''s operations. The Company''s principal financial assets include trade and other receivables, cash and cash equivalents and loans and advances and refundable deposits that derive directly from its operation.

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

A) Market risk:

Market risk is the risk that the fair value of future cash flows of a financial instrument will fluctuate because of changes in market prices. Market risk companies two types of risk: interest rate risk and other price risk: such as equity price risk and commodity/ real estate risk. the company has not entered into any foreign exchange or commodity derivative contracts. Accordingly, there is no significant exposure to the market risk other than interest risk.

i) Interest rate risk

Interest rate risk is the risk that the fair value or future cash flows of a financial instrument will fluctuate because of changes in market interest rates. The company''s exposure to the risk of changes in market interest rates relates primarily to the company''s long-term debt obligations with floating interest rates.

The company manages its interest rate risk by having a balanced portfolio of fixed and variable rate loans and borrowings. Most of the Borrowings of the Company are unsecured and at Fixed rates. The company has only one cash credit account which is linked to the prime Bank lending rate. The company does not enter into any interest rate swaps.

ii) Price risk

The Company has not made any investments for trading purposes. The Surpluses have been deployed in Bank deposits as explained above.

iii) Credit Risk

Credit risk is the risk that counterparty will not meet its obligations under a financial instrument or customer contract, leading to a financial loss. The Company is exposed to credit risk from its operating activities (primarily trade receivables) and from its financing activities, including refundable joint development deposits, security deposits, loans to employees and other financial instrument.

Trade Receivable

Receivable resulting from sale of Properties:

Customer credit risk is managed by requiring customers to pay advances before transfer of ownership, therefore,substantially eliminating the company''s credit risk in this respect.

Receivable resulting from other than sale of properties: Credit risk is managed by each business unit subject to the company''s established policy, procedure and control relating to customer credit risk management. Outstanding customer receivables are regularly monitored. the impairment analysis is performed at each reporting date on an indivdual basis for major clients. In addition, a large number of minor receivables are grouped into homogeneous groups and assessed for impairment collectively. the Maximum exposure to credit collateral as security. the Company''s credit period generally ranges from 30-60 days.

The ageing of trade receivable : Refer note 7

Deposits with Banks and financial institutions

Credit risk from balances with banks and financial institutions is managed by the company''s treasury department in accordance with the company''s policy. Investment of surplus funds are made only with approved counterparties and within credit limits assigned to each counterparty.

Counterparty credit limits are reviewed by the company''s Board of Directors on an annual basis, and may be updated thoughout the year subject to approval of the Board.The Limit

c) Liquidity Risk

The Company''s investment decisions relating to deployment of surplus liquidity are guided by the tenets of safety, liquidity and return. The Company manages its liquidity risk by ensuring that it will always have sufficient liquidity to meet its liabilities when due. In case of short term requirements, it obtains short-term loans from its Bankers.

37. Additional information and disclosures

i) Company has used the borrowings from banks and financial institutions for the specific purpose for which it was taken at the balance sheet date

ii) No proceedings have been initiated or pending against the company for holding any benami property under the Benami Transactions (Prohibition) Act, 1988 (45 of 1988) and the rules made thereunder and company has not been declared as willful defaulter by and bank or institution or other lender

iii) To the best of the information available, the company has not entered into any transactions with companies struck off under section 248 of the Companies Act, 2013 or section 560 of Companies Act, 1956

vii) Company has not traded or invested in Crypto currency or virtual currency during the financial year.

38 The company has received the certified order copy from NCLT dated 19.07.2024 which approves the scheme of arrangement for demerger of Realty Business undertaking of the existing company RDB Realty and Infrastructure Limited (Demerged company). The Realty Business undertaking has been transferred to the resulting company RDB Real Estate Construction Limited w.e.f. 01.10.2022.

39 As per certified order copy issued by NCLT relating to the scheme of arrangement for demerger dated 19.07.2024, all the investments of the demerged entity have been transferred to the resulting company RDB Real Estate Construction Limited w.e.f. 01.10.2022. Hence, consolidation is not applicable on the demerged entity as on 31.03.2024 and 31.03.2023.

40 As the effective date of the Demerger in the Order issued by NCLT is 01.10.22, the Company has not prepared a comparative cash flow statement for the financial year 2022-23.

41 The Figure of previous year have been recast, regrouped whether considered necessary.

Mar 31, 2023

a. Rights, preferences & restrictions attaching to shares and restrictions on distribution of dividend & repayment of capital. The Company has only one class of equity shares having par value of '' 10/-share. Each Shareholder is eligible for one vote per share.

In the opinion of the Board the Current Assets, Loans and Asdvances are not less than the stated value if realised in ordinary course of business. The Provision for all known liabilities is adequate and not in excess of the amount reasonably necessary. there is no contigent liability except stated and informed by the Management.

35. Contingent Liabilities:

(a) On account of Guarantee '' 20.16 cr (Previous year '' 5.73 cr) issued by the Company''s bankers to the contractee for projects under EPC Division.

(b) Demand has been raised by Income Tax Department for '' 102.36 Lacs against company for the Asst Year 13-14 against which appeal has been filed with Commissioner of Income Tax (Appeal)

37. Capital Requirements

In order to achieve this overall, the company''s capital management, amongst other things, aims to ensure that it meets financial covenants attached to the interest bearing loans and borrowings that define capital structure requirements. Breaches in meeting the financial covenants would permit the bank to immediately call loan and borrowings. There have been no breaches in the financial covenants of any interest bearing loans and borrowing in the current period.

No changes were made in the objectives, policies or processes for managing capital during the years ended March 31 2022 and March 31 2023.

Disclosure of Financial Instruments

Financial risk management objectives and policies

The Company''s principal financial liabilities comprise loans and borrowings, trade and other payables. The main purpose of these financial liabilities is to finance and support company''s operations. The Company''s principal financial assets include trade and other receivables, cash and cash equivalents and loans and advances and refundable deposits that derive directly from its operation.

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

A) Market Risk:

Market risk is the risj that the fair value of future cash flows of a financial instrument will fluctuate because of changes in market prices. Market risk companies two types of risk: interest rate risk and other price risk: such as equity price risk and commodity/ real estate risk. the company has not entered into any foreign exchange or commodity derivative contracts. Accordingly, there is no significant exposure to the market risk other than interest risk.

i) Interest Rate Risk

Interest rate risk is the risk that the fair value or future cash flows of a financial instrument will fluctuate because of changes in market interest rates. The company''s exposure to the risk of changes in market interest rates relates primarily to the company''s long-term debt obligations with floating interest rates.

The company manages its interest rate risk by having a balanced portfolio of fixed and variable rate loans and borrowings. Most of the Borrowings of the Company are unsecured and at Fixed rates. The company has only one cash credit account which is linked to the prime Bank lending rate. The company does not enter into any interest rate swaps.

ii) Price Risk

The Company has not made any investments for trading purposes. The Surpluses have been deployed in Bank deposits as explained above.

(B) Credit Risk

Credit risk is the risk that counterparty will not meet its obligations under a financial instrument or customer contract, leading to a financial loss. The Company is exposed to credit risk from its operating activities (primarily trade receivables) and from its financing activities, including refundable joint development deposits, security deposits, loans to employees and other financial instrument.

Trade Receivable

Receivable resulting from sale of Properties: Customer credit risk is managed by requiring customers to pay advances before transfer of ownership, therefore,substantially eliminating the company''s credit risk in this respect.

Receivable resulting from other than sale of properties: Credit risk is managed by each business unit subject to the company''s established policy, procedure and control relating to customer credit risk management. Outstanding customer receivables are regularly monitored. the impairment analysis is performed at each reporting date on an individual basis for major clients. In addition, a large number of minor receivables are grouped into homogeneous groups and assessed for impairment collectively. the Maximum exposure to credit collateral as security. the Company''s credit period generally ranges from 30-60 days.

The ageing of trade receivable : Refer note 8 Deposits with Banks and financial institutions

Credit risk from balances with banks and financial institutions is managed by the company''s treasury department in accordance with the company''s policy. Investment of surplus funds are made only with approved counterparties and within credit limits assigned to each counterparty.

Counterparty credit limits are reviewed by the company''s Board of Directors on an annual basis, and may be updated throughout the year subject to approval of the Board. The Limit

The Company''s investment decisions relating to deployment of surplus liquidity are guided by the tenets of safety, liquidity and return. The Company manages its liquidity risk by ensuring that it will always have sufficient liquidity to meet its liabilities when due. In case of short term requirements, it obtains short-term loans from its Bankers.

38. Additional information and disclosures

i) Company has used the borrowings from banks and financial institutions for the specific purpose for which it was taken at the balance sheet date

vii) Company has not traded or invested in Crypto currency or Virtual Currency during the financial year

39 Calculation of Deferred Tax will be made at the year end.

40 Effect of defined benefit obligation will be considered at the year end.

41 The Figure of previous year have been recast, regrouped whether considered necessary.

Mar 31, 2018

A. CORPORATE INFORMATION

RDB Realty & Infrastructure Ltd (The Company) is a public limited company domiciled and incorporated in India and its shares are publicly traded on the Bombay Stock Exchange (BSE) and The Calcutta Stock Exchange (CSE). It is an ISO 9001:2008 certified company, and is one of the leading real estate companies in Eastern India. The Company has pan India presence with all the necessary infrastructure, manpower, and finance. The registered office of the Company is situated at 8/1, Lalbazar Street, Bikaner Building, 1 Floor, Room No.10, Kolkata-700001.

The principle business activity of the company is Real Estate Development. The Company has a strong foothold in all the rapidly growing cities of West Bengal like Asansol, Burdwan, Haldia, Kharagpur, Midnapur and other upcoming cities of India including Agra, Bikaner, Guwahati, Hyderabad and Surat.

e. The rights, preferences & restrictions attaching to shares and restrictions on distribution of dividend and repayment of capital The Company has only one class of equity shares having par value of Rs. 10 per share. Each Shareholder is eligible for one vote. dividend proposed by the Board of Directors is subject to the approval of shareholders, except in case of interim dividend.

i) As per the scheme of amalgamation in the FY 12-13 of Pincha Home Builders Private Limited (The Transferor Company) and RDB Realty & Infrastructure Limited (The Transferee Company) as approved by Honourable High Court at Calcutta, company issue has 64,83,400 Nos. of Shares to the shareholders of the Pincha Home Builders Private Limited. in the ratio 1:2.2.

Notes

1 The Estimates of future salary increases, considered in actuarial valuation takes account of inflation, seniority, promotion and other relevant factors such as supply and demand in employment market.

2 Discount rate is based upon the market yields available on Government Bonds at the accounting date with a term that matches with that of liabilities.

2. Contingent Liabilities:-

(a) On account of corporate Guarantee of Rs.13500.00 Lacs (Previous Year Rs.13500.00 lacs) given by company to M/s. Xander Finance Private Limited ( Lender) for securing a term loan of M/s. Concast Infrastructure Pvt.Ltd and HPSD Enclave LLP.

(b)On account of Guarantee Rs. 1199.94 lacs (Previous Year Rs.1516.50 lacs) issued by the company''s bankers to the Contractee for projects under EPC Division.

(c) Appeal filed by the company against the order of Assessing officer determining demand of Rs.174.28 Lacs has been decided in the favour of the company. The disallowance/ addition made by the Assessing officer has been deleted by the Honourable Commissioner (Appeals). Income Tax Department has preferred/ filled an appeal with the Appellate Tribunal.

(d) Demand has been raised by Income Tax Department for Rs.103.66 Lacs against company for the Asst Year 12 - 13 against which appeal have been filed with Commissioner (Appeal) of Income Tax.

(e) Demand has been raised by Income Tax Department for Rs.102.36 Lacs against company for the Asst Year 13 - 14 against which appeal has been filed with Commissioner (Appeal) of Income Tax.

3. First Time Adoption of Ind AS

The Company has prepared the opening balance sheet as per Ind AS as of 1st April, 2016 (the transition date) by recognising all assets and liabilities whose recognition is required by Ind AS, not recognising items of assets or liabilities which are not permitted by Ind AS, by reclassifying items from previous Generally Accepted Accounting Principles (GAAP) to Ind AS as required under Ind AS, and applying Ind AS in measurement of recognised assets and liabilities.

Ind AS 101 (First-time Adoption of Indian Accounting Standards) provides a suitable starting point for accounting in accordance with Ind AS and is required to be mandatorily followed by first-time adopters. The Company has prepared the opening Balance Sheet as per Ind AS as of 1st April, 2016 (the transition date) by:

(a) recognising all assets and liabilities whose recognition is required by Ind AS,

(b) not recognising items of assets or liabilities which are not permitted by Ind AS,

(c) reclassifying items from previous Generally Accepted Accounting Principles (GAAP) to Ind AS as required under Ind AS, and applying Ind AS in measurement of recognised assets and liabilities.

3.1 Ind AS Optional Exemptions

Deemed Cost of Property, Plant and Equipment

Ind AS 101 permits a first time adopter to elect to continue with the carrying value for property, plant and equipment and use that as its deemed cost at the date of transition.

Accordingly, the Company has elected to measure all of its property, plant and equipment at their previous GAAP carrying value. Deemed Cost of Investment in Subsidiaries, Associates and Joint Ventures

Ind AS 27 requires investments in subsidiaries to be recorded at cost or value it in accordance with Ind AS 109 in its separate financial statements. However Ind AS 101 provides an option to the Company to measure such investment at cost (determined in accordance with Ind AS 27) or deemed cost (fair value or previous GAAP carrying amount) at the date of transition. Accordingly, the Company has availed the above exemption and recognized the investments in subsidiaries at the previous GAAP carrying amount at the date of transition to Ind AS

3.2 Ind AS Mandatory Exemptions

(a) Estimates

An entity''s estimates in accordance with Ind AS at the date of transition to Ind AS shall be consistent with estimates made for the same date in accordance with previous GAAP

Ind AS estimates at 1^st April, 2016 are consistent with the estimates as at the same date made with conformity with previous GAAP

(b) De-recognition of Financial Assets and Liabilities

Ind AS 101 requires a first time adopter to apply the de-recognition provisions of Ind AS 109 prospectively for transactions occurring on or after the date of transition to Ind AS. However, Ind AS 101 allows a first time adopter to apply the de-recognition retrospectively from a date of entity''s choosing.

The entity has elected to apply the de-recognition provisions prospectively from the date of transition.

Ind AS 101 requires an entity to assess classification and measurement of assets on the basis of facts and circumstances that exist at the date of transition to Ind AS.

The entity has applied this exception.

(d) Fair Valuation of Investments

Under the previous GAAP, investments were classified as long term investments or current investments based on the intended holding period and realisability. Under Ind AS, these investments are required to be measured at fair value. The resulting fair value changes of these investments have been recognised in retained earnings as at the date of transition.

3.3 Transition to Ind AS - Reconciliations

Ind AS 101 requires an entity to reconcile equity, total comprehensive income and cash flows for prior periods. The following tables represent the reconciliations from Previous GAAP to Ind AS:

Notes:

i) Under Indian GAAP, there are certain security deposits received and refundable advances given which are carried at nominal value. Ind AS requires the measurement of these assets at fair value at inception and subsequently these assets are measured at amortized cost. At inception date, Company recognises difference between deposit fair value and nominal value as income/expenses and the Company recognises notional interest income/expenses on these deposits over the lease term.

ii) Indian GAAP required deferred tax accounting using the income statement approach, which focusses on differences between taxable profits and accounting profits for the period. Ind AS 12 requires entities to account for deferred taxes using the balance sheet approach, which focuses on temporary differences between the carrying amount of an asset or liability in the balance sheet and its tax base. The application of Ind AS 12 approach has resulted in recognition of deferred tax on new temporary differences, which was not required under Indian GAAP. In addition, the various transitional adjustments lead to different temporary differences. According to the accounting policies, the Company has to account for such differences. Deferred tax adjustments are recognised in correlation to the underlying transaction either in retained earnings or a separate component of equity.

iii) The Company has undertaken a detailed exercise to determine the manner of allocation of expenses to inventory in context of Ind AS and accordingly realigned allocation of expenses and income to comply with Ind AS requirements.

c) Impact of Ind AS adoption on the Cash Flow Statement for the year ended 31st March, 2017

There are no significant differences between the Cash Flow Statement presented under Ind AS and the Previous GAAP

4A. Capital Requirements

For the purpose of the Company''s capital management, capital includes issued equity capital, share premium and all other equity reserves attributable to the equity holders of the Company. The primary objective of the Company''s capital management is to maximise the shareholder value.

The Company manages its capital structure and makes adjustments in light of changes in economic conditions and the requirements of the financial covenants. To maintain or adjust the capital structure, the Company may adjust the dividend payment to shareholders, return capital to shareholders or issue new shares. The Company monitors capital using a gearing ratio, which is net debt divided by total capital plus net debt. The Company includes within net debt, interest bearing loans and borrowings, trade and other payables less cash and cash equivalents

In order to achieve this overall objective, the Company''s capital management, amongst other things, aims to ensure that it meets financial covenants attached to the interest-bearing loans and borrowings that define capital structure requirements. Breaches in meeting the financial covenants would permit the bank to immediately call loans and borrowings. There have been no breaches in the financial covenants of any interest-bearing loans and borrowing in the current period.

No changes were made in the objectives, policies or processes for managing capital during the years ended March 31, 2017 and March 31, 2016.

Disclosure of Financial Instruments

Financial risk management objectives and policies

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

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

(a) Market Risk:

Market risk is the risk that the fair value of future cash flows of a financial instrument will fluctuate because of changes in market prices. Market risk comprises two types of risk: interest rate risk and other price risk, such as equity price risk and commodity/ real estate risk. The Company has not entered into any foreign exchange or commodity derivative contracts. Accordingly, there is no significant exposure to the market risk other than interest risk.

i) Interest Rate Risk

Interest rate risk is the risk that the fair value or future cash flows of a financial instrument will fluctuate because of changes in market interest rates. The Company''s exposure to the risk of changes in market interest rates relates primarily to the Company''s long-term debt obligations with floating interest rates.

The Company manages its interest rate risk by having a balanced portfolio of fixed and variable rate loans and borrowings. Most of the borrowings of the Company are unsecured and at fixed rates. The Company has only one cash credit account which is linked to the Prime Bank Lending Rate. The Company does not enter into any interest rate swaps.

ii) Price Risk

The Company has not made any investments for trading purposes. The surpluses have been deployed in bank deposits as explained above.

(b) Credit risk

Credit risk is the risk that counterparty will not meet its obligations under a financial instrument or customer contract, leading to a financial loss. The Company is exposed to credit risk from its operating activities (primarily trade receivables) and from its financing activities, including refundable joint development deposits, security deposits, loans to employees and other financial instruments.

Trade Receivables

- Receivables resulting from sale of properties: Customer credit risk is managed by requiring customers to pay advances before transfer of ownership, therefore, substantially eliminating the Company''s credit risk in this respect.

- Receivables resulting from other than sale of properties: Credit risk is managed by each business unit subject to the Company''s established policy, procedures and control relating to customer credit risk management. Outstanding customer receivables are regularly monitored. The impairment analysis is performed at each reporting date on an individual basis for major clients. In addition, a large number of minor receivables are grouped into homogeneous groups and assessed for impairment collectively. The maximum exposure to credit risk at the reporting date is the carrying value of each class of financial assets. The Company does not hold collateral as security. The Company''s credit period generally ranges from 30-60 days.

Deposits with banks and financial institutions

Credit risk from balances with banks and financial institutions is managed by the Company''s treasury department in accordance with the Company''s policy. Investments of surplus funds are made only with approved counterparties and within credit limits assigned to each counterparty.

Counterparty credit limits are reviewed by the Company''s Board of Directors on an annual basis, and may be updated throughout the year subject to approval of the Board. The limits are set to minimise the concentration of risks and therefore mitigate financial loss through a counterparty''s potential failure to make payments. The Company''s maximum exposure to credit risk for the components of the statement of financial position at 31 March 2017 and 2016 is the carrying amounts.

The Company''s investment decisions relating to deployment of surplus liquidity are guided by the tenets of safety, liquidity and return. The Company manages its liquidity risk by ensuring that it will always have sufficient liquidity to meet its liabilities when due. In case of short term requirements, it obtains short-term loans from its Bankers.

5. The figures of Previous Year have been recast, regrouped wherever considered necessary.

Mar 31, 2016

1. Employee Defined Benefits:-

a) Defined Contribution Plans: The Company has recognized an expense of Rs. 1.28 Lacs (Previous Year Rs. 1.17 Lacs) towards the defined contribution plans.

b) Defined Benefit Plans: As per actuarial valuation as on March 31, 2016 and recognized in the financial statements in respect of Employee Benefit Schemes:

2. The Estimates of future salary increases, considered in actuarial valuation takes account of inflation, seniority, promotion and other relevant factors such as supply and demand in employment market.

3. Discount rate is based upon the market yields available on Government Bonds at the accounting date with a term that matches with that of liabilities.

4.. Related Party Disclosures in accordance with AS - 18:-

(i) Enterprises where control exists (A) Subsidiaries:-

1 Bahubali Tie-Up Private Limited 7 Triton Commercial Private Limited

2 Baron Suppliers Private Limited 8 Rathi Ess En Finance Co. Private Limited *

3 Bhagwati Builders & Development Private Limited 9 Raj Construction Projects Private Limited

4 Bhagwati Plasto Works Private Limited 10 RDB Legend Infrastructure Private Limited

5 Headman Mercantile Private Limited 11 RDB Realty Private Limited **

6 Kasturi Tie-Up Private Limited 12 Maple Tie-up Private Limited ***

* Entire holding of the company was disposed off as on 20.03.2015.

** 860154 Shares representing 8.60% holding were disposed on 28.07.14, resulting in reduction in holding to 53.63%.

*** 7000 shares representing 70% the holding of the company were acquired by Parent company as on 01.07.14.

(B) Partnership Firm/LLP:-

5.. Rs.1,13,76,458/- (P.Y. - Nil) interest provided on loan taken for real estate projects or loan fund deployed on real estate projects has been capitalized to construction work in progress in accordance with AS - 16 "Borrowing Cost"

6.. Contingent Liabilities:-

a) On account of Guarantee Rs. 1832.41 lacs (Previous Year Rs. 1475.59 lacs) issued by the company''s bankers to the Contracted for projects under EPC Division.

b) Appeal filed by the company against the order of Assessing officer determining demand of Rs.174.28 Lacs has been decided in the favour of the company. The disallowance/ addition made by the Assessing officer has been deleted by the Honorable Commissioner (Appeals). Income Tax Department has preferred/ filled an appeal with the Appellate Tribunal. The management is to get judgment in its favor, and hence have not made any provision in the financial statement.

c) Demand has been raised by Income Tax Department for Rs.103.66 Lacs against company for the Asst Year 12 - 13 against which appeal have been filed with Commissioner (Appeal) of Income Tax.

d) Demand has been raised by Income Tax Department for Rs.102.36 Lacs against company for the Asst Year 13 -14 against which appeal is yet to be filed with Commissioner (Appeal) of Income Tax.

7. During the F/Y : 2014-15 under review, HSCC Limited (contractor) a government of India undertaking has revoked contract for construction of hostel and O.P.D under the control of Regional Institute of Medical Science at Imphal consequent to such revocation the contractor has revoked the Bank Guarantee issued in favour of contractor amounting to Rs. 557.75 lacs. The contract was executed by a sub-contractor, as per the terms of contract with RDBRIL, the sub-contractor is liable to bear any damages/loss/expenses suffered by RDBRIL. Hence, no provision has been made for the same.

8. The figures of Previous Year have been recast, regrouped wherever considered necessary.

Mar 31, 2015

A. The rights, preferences & restrictions attaching to shares and restrictions on distribution of dividend and repayment of capital

The Company has only one class of equity shares having par value of Rs. 10 per share. Each Shareholder is eligible for one vote. The dividend proposed by the Board of Directors is subject to the approval of shareholders, except in case of interim dividend.

i) 1,07,50,000 Shares were issued in the FY 10-11 to the Shareholders of NTC Industries Ltd. (Formerly RDB Industries Ltd.) in pursuance of scheme of arrangement for demerger of Real Estate Division of RDB Industries Ltd. (Now known as NTC Industries Ltd.)

ii) As per the scheme of amalgamation in the FY 12-13 of Pincha Home Builders Private Limited (The Transferor Company) and

RDB Realty & Infrastructure Limited (The Transferee Company) as approved by Honourable High Court at Calcutta, company has issued 64,83,400 Nos. of Shares to the shareholders of the Pincha Home Builders Private Limited. in the ratio 1:2.2 (Refer Note No. 35)

2. Employee Defined Benefits:-

a) Defined Contribution Plans: The Company has recognised an expense of Rs. 1.17 Lacs (Previous Year Rs. 1.14 Lacs) towards the defined contribution plans.

b) Defined Benefit Plans: As per actuarial valuation as on March 31, 2015 and recognised in the financial statements in respect of Employee Benefit Schemes:

3. Segment Reporting:-

The Business of the company fall under a single segment i.e. "Development of Real Estate & Infrastructure". In view of the general classification notified by Central Government in exercise of power conferred u/s 129 of Companies Act, 2013 for company operating in a single segment, the disclosure requirement as per AS - 17 on 'Segment Reporting' is not applicable to the company. The Company's business is mainly concentrated in similar geographical, political and economical conditions; hence disclosure for Geographical segment is also not required.

* Entire holding of the Company was disposed off as on 20.03.2015

** Holding was disposed as on 28.07.2014 consequently the holding is reduced to 53.63%.

*** 7000 shares representing 70% of the paid up share capital of the company were acquired by Parent Company as on 01.07.2014 (B) Partnership Firm/LLP:-

4. In the opinion of the Board the Current Assets, Loans and Advances are not less than the stated value if realised in ordinary course of business. The provision for all known liabilities is adequate and not in excess of the amount reasonably necessary. There is no contingent liability except stated and informed by the Management.

5. Interest on Short Term Borrowings included under the relevant loan, as it is deemed to have been converted into loan as and when credited as per terms.

6. Disclosure relating to Amalgamation as per AS-14

a) The scheme of amalgamation has taken place between Pincha Home Builders Private Limited (the Transferor Company) and RDB Realty & Infrastructure Ltd (the Transferee Company) both are dealing in construction activities.

b) The Effective date of Amalgamation is 1st April, 2012.

c) Pooling of interest method of accounting has been used to reflect the amalgamation.

d) The scheme of amalgamation of Pincha Home Builders Private Limited (the Transferor Company) and RDB Realty & Infrastructure Ltd (the Transferee Company) has been approved by the Honourable High Court at Calcutta. Hence, the effect of amalgamation has been incorporated in the books of accounts.

e) 64,83,400 Nos. of Equity Shares issued against 29,47,000 Nos. of Equity Shares of Pincha Home Builders Private Limited in the ration 1:2.2.

f) Net Assets Aquired amounted Rs. 15,28,18,275/-

7. Contingent Liabilities:-

a) On account of Guarantee Rs. 1475.59 lacs (Previous Year Rs. 2306.25 lacs) issued by the company's bankers to the Contractee for projects under EPC Division.

b) During the year under review, demand has been raised by Income Tax Department for Rs.277.94 Lacs against company for the Asst Year 11 - 12 and 12 - 13 for which appeal have been filed with Commissioner (Appeal) of Income Tax.

8. During the year under review, HSCC Limited (contractor) a government of India undertaking has revoked contract for construction of hostel and O.P.D under the control of Regional Institute of Medical Science at Imphal consequent to such revocation the contractor has revoked the Bank Guarantee issued in favour of contractor amounting to Rs. 557.75 lacs. The contract was executed by a sub-contractor, as per the terms of contract with RDBRIL, the sub-contractor is liable to bear any damages/loss/expenses suffered by RDBRIL. Hence, no provision has been made for the same.

9. During the year under review, the company has changed the method of providing depreciation on fixed assets from W.D.V. to S.L.M., persuant to the change, depreciation the current year is short by Rs. 22.09 Lacs. Further depreciation up to 31.03.14 has been charged in excess by Rs. 153 Lacs.

10. The Company has adopted useful lives of the fixed assets as those specified in Part "C" of Schedule II to the Companies Act, 2013 ("the Act"). Accordingly carrying amount of assets, for which the useful lives as per the revised estimate are exhausted as of 1st April, 2014 have been adjusted with the opening balance retained earning as on that date after retaining the residual value of those assets. For the other assets, the carrying amount as of 1st April, 2014 will be amortised over the remaining useful lives of the assets. Rs. 4.22 Lacs has been adjusted with the opening retained earning as of 1st April' 2014.

11. The figures of Previous Year have been recast, regrouped wherever considered necessary.

Mar 31, 2014

1. The rights, preferences & restrictions attaching to shares and restrictions on distribution of dividend and repayment of capital

The Company has only one class of equity shares having par value of Rs. 10 per share. Each Shareholder is eligible for one vote. The dividend proposed by the Board of Directors is subject to the approval of shareholders, except in case of interim dividend.

2. Segment Reporting

The Business of the company fall under a single segment i.e. "Development of Real Estate & Infrastructure". In view of the general classification notified by Central Government in exercise of power conferred u/s 211(3C) of Companies Act, 1956 for company operating in a single segment, the disclosure requirement as per AS - 17 on ..Segment Reporting is not applicable to the company. The Companys business is mainly concentrated in similar geographical, political and economical conditions; hence disclosure for Geographical segment is also not required.

3. Related Party Disclosures in accordance with AS -18

(i) Enterprises where control exists (A) Subsidiaries:-

Sl. No. Name of Company

1 Bahubali Tie-Up Private Limited

2 Baron Suppliers Private Limited

3 Bhagwati Builders & Development Private Limited

4 Bhagwati Plasto Works Private Limited

5 Headman Mercantile Private Limited

6 Kasturi Tie-Up Private Limited

7 Triton Commercial Private Limited

8 Rathi Ess En Finance Co. Private Limited

9 Raj Construction Projects Private Limited

10 RDB Legend Infrastructure Private Limited

11 RDB Realty Private Limited

(B) Partnership Firm:-

Sl. No. Name of the Firm

1 Bindi Developers

2 Unique RDB Realty

(ii) Other related parties with whom the company had transactions

(A) Key Management Personnel & their relatives:-

Sl. No. Name Designation /Relationship

1 Sunder Lal Dugar Chairman and Managing Director

2 Pradeep Kumar Pugalia Whole Time Director

(B) Enterprises over which Key Management Personnel/Major Shareholders ATheir Relatives have Significant Influence: -

Sl.No. Name of Enterprise

1 BFM Industries Limited

2 Humraj Commodities Private Limited

3 Khatod Investment & Finance Company Limited

4 Loka Properties Private Limited

5 Modak Vyapar Private Limited

6 NTC Industries Limited

7 Pyramid Sales Private Limited

8 MKN Investment Private Limited

9 Ranchhod Vanijya Private Limited

10 RD Devcon Private Limited

11 Regent Education & Reserch Centre

12 S.D.Infrastructure & Real Estate Private Limited

13 Samspa Expo Private Limited

14 Somani Estates Private Limited

15 Veekay Apartments Private Limited

4. In the opinion of the Board the Current Assets, Loans and Advances are not less than the stated value if realised in ordinary course of business. The provision for all known liabilities is adequate and not in excess of the amount reasonably necessary. There is no contingent liability except stated and informed by the Management.

5. Disclosure relating to Amalgamation as per AS-14

a) The scheme of amalgamation has taken place between Pincha Home Builders Private Limited (the Transferor Company) and RDB Realty & Infrastructure Ltd (the Transferee Company) both are dealing in construction activities.

b) The Effective date of Amalgamation is 1st April, 2012.

c) Pooling of interest method of accounting has been used to reflect the amalgamation.

d) The scheme of amalgamation of Pincha Home Builders Private Limited (the Transferor Company) and RDB Realty & Infrastructure Ltd (the Transferee Company) has been approved by the Honourable High Court at Calcutta. Hence, the effect of amalgamation has been incorporated in the books of accounts.

e) 64,83,400 Nos. of Equity Shares issued against 29,47,000 Nos. of Equity Shares of Pincha Home Builders Private Limited in the ration 1:2.2.

f) Net Assets Aquired amounted Rs. 15,28,18,275/-

6. Contingent Liabilities:-

a) On account of Guarantee Rs. 23,06,24,812/- (Previous Year Rs. 20,10,18,812/-) issued by the companys bankers to the Contractee for projects under EPC Division.

b) Rs. 32,07,510/- (Previous Year Rs. 32,07,510/-) on account of Service Tax collected from flat owners of Regent Enclave and deposited to the credit of central government. Flat owners filed a suit against company, claiming refund of Service Tax.

7. The figures of Previous Year have been recast, regrouped wherever considered necessary.

Mar 31, 2013

1. SEGMENT REPORTING

The Business of the company fall under a single segment i.e. "Development of Real Estate & Infrastructure". In view of the general classification notified by Central Government in exercise of power conferred u/s 211(3C) of Companies Act, 1956 for company operating in a single segment, the disclosure requirement as per AS -17 on ''Segment Reporting'' is not applicable to the company. The Company''s business is mainly concentrated in similar geographical, political and economical conditions; hence disclosure for Geographical segment is also not required.

2. In the opinion of the Board the Current Assets, Loans and Advances are not less than the stated value if realised in ordinary course of business. The provision for all known liabilities is adequate and not in excess of the amount reasonably necessary. There is no contingent liability except stated and informed by the Management.

3. DISCLOSURE RELATING TO AMALGAMATION AS PER AS-14

a) The scheme of amalgamation has taken place between Pincha Home Builders Private Limited (the Transferor Company) and RDB Realty & Infrastructure Ltd (the Transferee Company) both are dealing in construction activities.

b) The Effective date of Amalgamation is 1st April, 2012.

c) Pooling of interest method of accounting has been used to reflect the amalgamation.

d) The scheme of amalgamation of Pincha Home Builders Private Limited (the Transferor Company) and RDB Realty & Infrastructure Ltd (the Transferee Company) has been approved by the Honourable High Court at Calcutta. Hence, the effect of amalgamation has been incorporated in the books of accounts.

e) 64,83,400 Nos. of Equity Shares issued against 29,47,000 Nos. of Equity Shares of Pincha Home Builders Private Limited in the ratio 1:2.2.

f) Net Assets Acquired amounted Rs. 15,28,18,275/-

4. CONTINGENT LIABILITIES

a) On account of Guarantee Rs. 20,10,18,812/- (Previous Year Rs. 24,06,73,812/-) issued by the company''s bankers to the Contractee for projects under EPC Division.

b) Rs. 32,07,510/- (Previous Year Rs. 32,07,510/-) on account of Service Tax collected from flat owners of Regent Enclave and deposited to the credit of central government. Flat owners filed a suit against Company, claiming refund of Service Tax.

5. The figures of Previous Year have been recast and regrouped wherever considered necessary.

Mar 31, 2012

A. The rights, preferences & restrictions attaching to shares and restrictions on distribution of dividend and repayment of capital The Company has only one class of equity shares having par value of Rs10 per share. Each Shareholder is eligible for one vote. The dividend proposed by the Board of Directors is subject to the approval of shareholders, except in case of interim dividend.

*10750000 Shares were issued to the Shareholders of RDB Industries Ltd. (Now known as NTC Industries Ltd.) in pursuance of scheme of arrangement for demerger of Real Estate Division of RDB Industries Ltd. (Now known as NTC Industries Ltd.)

i) If the scheme of amalgamation of Pincha Home Builders Private Limited (The Transferor Company) and RDB Realty & Infrastructure Limited (The Transferee Company) is approved by Honourable High Court at Calcutta, company will issue 64,83,400 Nos. of Shares to the shareholders of the Pincha Home Builders Private Limited.

1. SEGMENT REPORTING

The Business of the Company fall under a single segment i.e., "Development of Real Estate & Infrastructure". In view of the general classification notified by Central Government in exercise of power conferred u/s 211(3C) of Companies Act, 1956 for Company operating in a single segment, the disclosure requirement as per AS - 17 on 'Segment Reporting' is not applicable to the Company. The Company's business is mainly concentrated in similar geographical, political and economical conditions; hence disclosure for Geographical segment is also not required.

2. In the opinion of the Board the Current Assets, Loans and Advances are not less than the stated value if realized in ordinary course of business. The provision for all known liabilities is adequate and not in excess of the amount reasonably necessary. There is no contingent liability except stated and informed by the Management.

3. The scheme of amalgamation of Pincha Home Builders Private Limited (the Transferor Company) and RDB Realty & Infrastructure Ltd (the Transferee Company) is pending for approval with the Honourable High Court at Calcutta before the finalization of accounts of company. Hence, effect of amalgamation is not incorporated.

4. CONTINGENT LIABILITIES

a) On account of Guarantee Rs24,06,73,812/- (Previous Year Rs15,51,32,746/-) issued by the Company's bankers to the Contractee for projects under EPC Division.

b) Rs32,07,510/- (Previous Year Rs32,07,510/-) on account of Service Tax collected from flat owners of Regent Enclave and deposited to the credit of Central Government. Flat owners filed a suit against Company, claiming refund of Service Tax.

5. The financial statements for the year ended 31st March 2011 had been prepared as per the then applicable, pre-revised Schedule VI to the Companies Act,1956. Consequent to the notification the revised Schedule VI under the Companies Act, 1956, the financial statement for the year ended 31st March 2012 are prepared as per revised Schedule VI. Accordingly, the previous year have also been reclassified / regrouped to confirm to this year's classification. The adoption of revised Schedule VI for previous year figures does not impact recognition and measurement principles followed for preparation of financial statements.

Mar 31, 2010

1. PENDING ALLOTMENT OF EQUITY SHARES:-

Pursuant to the scheme of Demerger of the real estate undertaking from RDB Industries Limited, the Company will issue and allot its shares to the shareholders of RDB Industries Limited in the ratio of one equity share of face value of Rs.10/- each fully paid up in the company for every one equity shares of Rs.10/- each held by the shareholders of RDB Industries Limited. Pending allotment of these shares, the amount of Rs.107, 500, 000/- is disclosed as Share Capital - pending allotment. As per the scheme, RDB Realty & Infrastructure Limited ceased to be the subsidiary of the company.

2. EMPLOYEE DEFINED BENEFITS:-

a) Defined Contribution Plans: The Company has recognised an expense of Rs.321,851/- (Previous Year Rs. Nil) towards the defined contribution plans.

3. SEGMENT REPORTING:-

a) The Business of the company falls under a single segment i.e, Development of Real Estate & InfrastructureÃ. In view of the general classification issued by the Institute of Chartered Accountants of India for Companies operating in single segment, the disclosure requirement as per Accounting Standard -17 on ÃSegment ReportingÃ are not applicable to the company.

b) The Companys business is mainly concentrated in similar geographical, political and economical conditions; hence disclosure for Geographical segment is not required.

4. RELATED PARTY DISCLOSURES:-

In terms of Accounting Standard-18 are as under:

I) Enterprises where control exists (A) Subsidiaries:-

S. No. Name of Company

1 Bahubali Tie-Up Private Ltd.

2 Baron Suppliers Private Ltd.

3 Bhagwati Builders & Development Pvt. Ltd.

4 Bhagwati Plasto Works Private Ltd.

5 Headman Mercantile Private Ltd.

6 Kasturi Tie-Up Private Ltd.

7 Triton Commercial Private Ltd.

8 Rathi Ess En Finance Co. Private Ltd.

9 Raj Construction Projects Private Ltd.

Following companies ceased to be a subsidiary

1 Oswal Manufacturing Co. Private Ltd.*

*with effect from 30.07.2009

2 RD Devcon Pvt. Ltd.**

**with effect from 31.03.2010

(B) Partnership Firm:-

1Bindi Developers

II) Other related parties with whom the company had transactions:-

A) Key Management Personnel & their relatives:-

1 Sunder Lal Dugar Director

2 Ravi Prakash PinchaDirector

B) Enterprises over which Key Management Personnel/Major Shareholders/Their Relatives have Significant Influence: -

S.No. Name of Enterprise S.No. Name of Enterprise

1 Humraj Commodities Pvt. Ltd. 3 RD Motors Private Ltd.

2 Pyramid Sales Private Ltd. 4 Sri S.L.Dugar Charitable Trust 5 Khatod Investment & Finance Co. Ltd. 6 Somani Estates Pvt. Ltd.

7 Vitol Commercial Pvt. Ltd. 8 Veekay Appartment Pvt. Ltd.

9 Johri Towers Pvt. Ltd. 10RDB Builders Pvt. Ltd.

11 Rekha Benefit Trust 12Ankur Construction Pvt. Ltd.

5. The Company is in communication with its suppliers to ascertain the applicability of "The Micro, Small and Medium Enterprises Development Act, 2006". As on the date of this Balance Sheet the Company has not received any communications from any of its suppliers regarding the applicability of this Act to them.

6. Interest amounting to Rs.17, 010, 074/- paid on loans taken for real estate projects has been included in the value of inventory.

7. Quantitative Information:-

The management is of the view that the provisions of clause 3 (ii) of Schedule VI of Part II of the Companies Act, 1956 are not applicable to the company and as such no quantitative details are given.

8. Contingent Liabilities:-

a) On account of Guarantee Rs.940, 000 /- (Previous year Rs. Nil/-) issued by the companys bankers.

b) On account of corporate guarantee given to bank for secured loan taken by Associates and Subsidiary of the Company, Rs.564,700,000/- (Previous year Rs. Nil).

c) In view of the judgment of Honble Delhi High Court in case of Home Solutions Retail Private Limited & Others, the tenants have stopped re-imbursement of service tax on rental income. They may re-imburse the same in case the service tax liability finally arises in future. The nature of the service tax being an indirect tax, the company can claim the same from the tenants. Accordingly, bills for rental income are raised along with service tax, and the amount of service tax so charged in the bills is credited in "Service Tax on Rent" account and included in "Other Liabilities" shown under the head "Current Liabilities" in the Balance Sheet.

9. In the opinion of the Board the Current Assets, Loans and Advances are not less than the stated value if realised in ordinary course of business. The provision for all known liabilities is adequate and not in excess of the amount reasonably necessary. There is no contingent liability except stated and informed by the Management.

10. Figures for the Previous Year are not comparable due to demerger of "Real Estate Undertaking" of RDB Industries Ltd. with the company with effect from 01/04/2009 in terms of the scheme of arrangement as approved by the Honble High Court of Calcutta vide its order dated 12/04/2010 filed with the Registrar of Companies on 24/05/2010.

11. The figures of Previous Year have been recast and regrouped wherever considered necessary.

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