Notes to Accounts of Real Eco-Energy Ltd.

Mar 31, 2025

e) Provisions, Contingent liabilities, Contingent assets and Commitments
General

Provisions are recognized when the company has a present obligation (legal or constructive) as a result
of a past event, it is probable that an outflow of resources embodying economic benefits will be required
to settle the obligation and a reliable estimate can be made of the amount of the obligation. When the
company expects some or all of a provision to be reimbursed, for example, under an insurance contract,
the reimbursement is recognized as a separate asset, but only when the reimbursement is virtually
certain. The expense relating to a provision is presented in the statement of profit and loss net of any
reimbursement.

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 recognized as a finance cost.

Contingent liability is disclosed in the case of:

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

2. A present obligation arising from the past events, when no reliable estimate is possible;

3. A possible obligation arising from the past events, unless the probability of outflow of resources is
remote.

Commitments include the amount of purchase order (net of advances) issued to parties for completion
of assets.

The company provides for the expenses to reclaim the quarries used for mining. The total estimate of
reclamation expenses is apportioned over the estimate of mineral reserves and a provision is made
based on the minerals extracted during the year. Mines reclamation expenses are incurred on an
ongoing basis and until the closure of the mine. The actual expenses may vary based on the nature of
reclamation and the estimate of reclamation expenditure

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

f) Current and Deferred Taxes

The tax expenses for the period comprise of current tax and deferred tax.

Current income tax assets and liabilities are measured at the amount expected to be recovered from or
paid to the taxation authorities, based on the rates and tax laws enacted or substantively enacted, at the
reporting date in the country where the entity operates and generates taxable income. Current tax items
are recognized in correlation to the underlying transaction either in OCI or directly in equity.
Management periodically evaluates positions taken in the tax returns with respect to situations in which
applicable tax regulations are subject to interpretation and establishes provisions where appropriate.

Deferred tax is provided using the balance sheet approach on temporary differences at the reporting
date between the tax bases of assets and liabilities and their corresponding carrying amounts for the
financial reporting purposes.

The carrying amount of deferred tax assets is reviewed at each reporting date and reduced to the extent
that it is no longer probable that sufficient taxable profit will be available to allow all or part of the
deferred tax asset to be utilized. Unrecognized deferred tax assets are re-assessed at each reporting date
and are recognized to the extent that it has become probable that future taxable profits will allow the
deferred tax asset to be recovered.

Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the year
when the asset is realized or the liability is settled, based on tax rates (and tax laws) that have been
enacted or substantively enacted at the reporting date. Deferred tax assets and deferred tax liabilities
are offset if a legally enforceable right exists to set off current tax assets against current tax liabilities and
the deferred taxes relate to the same taxable entity and the same taxation authority.

Minimum Alternative Tax (MAT) credit is recognized as an asset only when and to the extent there is
convincing evidence that the company will pay normal income tax during the specified period. In the
year in which the MAT credit becomes eligible to be recognized an asset in accordance with
recommendations contained in Guidance Note issued by ICAI, the said asset is created by way of a credit
to the Statement of Profit and Loss and shown as MAT Credit Entitlement. The company reviews the
same at each Balance Sheet date and writes down the carrying amount of MAT Credit Entitlement to an
extent there is no longer convincing evidence to the effect that the company will pay normal Income Tax
during the specified period.

g) Revenue recognition

Revenue from contract with customers Revenue from contracts with customers is recognized upon
transfer of control of promised goods/ products to customers at an amount that reflects the
consideration to which the Company expect to be entitled for those goods/ products. To recognize
revenues, the Company applies the following five-step approach:

• Identify the contract with a customer,

• Identify the performance obligations in the contract,

• Determine the transaction price,

• Allocate the transaction price to the performance obligations in the contract, and

• Recognize revenues when a performance obligation is satisfied.

Sale of goods

Revenue from the sale of goods is recognized when the significant risks and rewards of ownership of the
goods have passed to the buyer and no significant uncertainty exists regarding the amount of the
consideration that will be derived from the sale of goods. Revenue from the sale of goods is measured at
the fair value of the consideration received or receivable, net of returns and allowances, related
discounts & incentives and volume rebates. It includes excise duty and excludes value added tax/ sales
tax/goods and service tax.

Sale of goods - non-cash incentive schemes (deferred revenue)

The company operates a non-cash incentive scheme program where dealers / agents are entitled to non¬
cash incentives on achievement of sales targets. Revenue related to the non-cash schemes is deferred

and recognized when the targets are achieved. The amount of revenue is based on the realization of the
sales targets to the period of scheme defined.

h) Borrowing costs

Borrowing costs directly attributable to the acquisition, construction or production of an asset that
necessarily takes a substantial period of time to get ready for its intended use or sale are capitalized as
part of the cost of the asset. Qualifying assets are assets that necessarily take a substantial period of time
to get ready for their intended use or sale. All other borrowing costs are expensed in the period in which
they occur. Borrowing costs consist of interest and other costs that a company incurs in connection with
the borrowing of funds.

Investment income earned on the temporary investment of specific borrowings pending their
expenditure on qualifying asset is deducted from the borrowing costs eligible for capitalization.

i) Employee Benefits

All employee benefits payable wholly within twelve months of rendering services are classified as short¬
term employee benefits. Benefits such as salaries, wages, short-term compensated absences,
performance incentives etc., and the expected cost of bonus, ex-gratia are recognized during the period
in which the employee renders related service.

Payments to defined contribution retirement benefit plans are recognized as an expense when
employees have rendered the service entitling them to the contribution.

No benefits have been provided by the Company under the defined benefits plan. Thus, no re
measurement comprising of actuarial gains and losses, the effect of the asset ceiling, excluding amounts
included in net interest on the net defined benefit liability and the return on plan assets (excluding
amounts included in net interest on the net defined benefit liability), are recognized in the balance sheet
with a corresponding debit or credit to retained earnings through OCI in the period in which they occur
No net defined benefit obligation as an expense has been recognized in the statement of profit and loss:

1. Long-term employee benefits

Post-employment and other employee benefits are recognized as an expense in the statement of
profit and loss for the period in which the employee has rendered services. A liability is recognized
for benefits accruing to employees in respect of wages and salaries, annual leave and sick leave in
the period the related service is rendered at the undiscounted amount of the benefits expected to
be paid in exchange for that service.

2. Defined contribution plans

The company pays provident fund contributions to publicly administered provident funds as per local
regulations. The company has no further payment obligations once the contributions have been
paid. Company as not comply with the provisions of Gratuity Plan as required as per INDAS 19.

j) Investment properties

Property that is held for long-term rental yields or for capital appreciation or both, and that is not
occupied by the company, is classified as investment property. Investment property is measured initially
at its cost, including related transaction costs and where applicable borrowing costs. Subsequent
expenditure is capitalized to the asset''s carrying amount only when it is probable that future economic
benefits associated with the expenditure will flow to the company and the cost of the item can be
measure reliably. All other repairs and maintenance costs are expensed when incurred. When part of an
investment property is replaced, the carrying amount of the replaced part is derecognized.

There are no Investment Properties in name of Company.

k) Other Investments

The Company carries certain Liquid funds which are registered under SEBI and traded on Stock Market,
the said funds are not held for trading. The company has recorded its investment in equity instruments
at its acquisition cost.

l) Investment in subsidiaries, joint ventures and associates

Investments in subsidiaries, joint ventures and associates are recognized at cost as per Ind AS 27. Except
where investments accounted for at cost shall be accounted for in accordance with Ind AS 105, Non¬
current Assets Held for Sale and Discontinued Operations, when they are classified as held for sale.
Company has wholly owned subsidiary.

m) Impairment of non-financial assets

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

Recoverable amount is determined:

i. In case of individual asset, at higher of the fair value less cost to sell and value in use; and

ii. In case of cash-generating unit (a company of assets that generates identified, independent cash
flows), at the higher of the cash-generating unit''s fair value less cost to sell and the value in use.

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

The company bases its impairment calculation on detailed budgets and forecast calculations, which are
prepared separately for each of the company''s CGUs to which the individual assets are allocated. These
budgets and forecast calculations generally cover a period of five years. For longer periods, a long-term
growth rate is calculated and applied to project future cash flows after the fifth year.

Impairment losses of continuing operations, including impairment on inventories, are recognized in the
statement of profit and loss, except for properties previously revalued with the revaluation surplus taken
to OCI. For such properties, the impairment is recognized in OCI up to the amount of any previous
revaluation surplus.

n) Cash and cash equivalents

Cash and cash equivalent in the balance sheet comprise cash at banks and on hand and short-term
deposits with an original maturity of three months or less, which are subject to an insignificant risk of
changes in value. For the purpose of the statement of cash flows, cash and cash equivalents consist of
cash and short-term deposits, as defined above, net of outstanding bank overdrafts as they are
considered an integral part of the company''s cash management.

o) Segment accounting

The Chief Operational Decision Maker monitors the operating results of its business Segments separately
for the purpose of making decisions about resource allocation and performance assessment. Segment
performance is evaluated based on profit or loss and is measured consistently with profit or loss in the
financial statements.

The Operating segments have been identified on the basis of the nature of products/services.

The accounting policies adopted for segment reporting are in line with the accounting policies of the
company. Segment revenue, segment expenses, segment assets and segment liabilities have been
identified to segments on the basis of their relationship to the operating activities of the segment. Inter
Segment revenue is accounted on the basis of transactions which are primarily determined based on
market/fair value factors. Revenue, expenses, assets and liabilities which relate to the company as a
whole and are not allocated to segments on a reasonable basis have been included under "unallocated
revenue / expenses / assets / liabilities".

p) Dividend

The final dividend on shares is recorded as a liability on the date of approval by the shareholders. Interim
dividends are recorded as a liability on the date of declaration by the Company''s Board. Income tax
consequences of dividends on financial instruments classified as equity will be recognized according to
where the entity originally recognized those past transactions or events that generated distributable
profits.

The Company declares and pays dividends in Indian Rupees. Companies are required to pay / distribute
dividend after deducting applicable taxes. The remittance of dividends outside India is governed by
Indian law on foreign exchange and is also subject to withholding tax at applicable rates.

q) Earnings per share

Basic earnings per share are calculated by dividing the net profit for the period attributable to equity
shareholders by the weighted average number of equity shares outstanding during the period. Earnings
considered in ascertaining the company''s earnings per share is the net profit for the period after
deducting preference dividends and any attributable tax thereto for the period. The weighted average
number of equity shares outstanding during the period and for all periods presented is adjusted for
events, such as bonus shares, other than the conversion of potential equity shares that have changed the
number of equity shares outstanding, without a corresponding change in resources.

For the purpose of calculating diluted earnings per share, the profit or loss for the period attributable to
equity shareholders and the weighted average number of shares outstanding during the period is
adjusted for the effects of all dilutive potential equity shares. Dilutive potential equity shares are deemed
converted as of the beginning of the period, unless they have been issued at a later date. The diluted
potential equity shares have been arrived at, assuming that the proceeds receivable were based on
shares having been issued at the average market value of the outstanding shares. In computing dilutive
earnings per share, only potential equity shares that are dilutive and that would, if issued, either reduce
future earnings per share or increase loss per share, are included.

r) Financial Instruments

a) Financial Assets

Purchase and sale of Financial Assets are recognised using trade date accounting. Trade receivables
that do not contain a significant financing component are measured at transaction price.

The Company has elected to account for its investments in subsidiaries, associates and joint venture
at cost less impairment loss (if any).

All other equity investments are measured at fair value, with value changes recognised in Statement
of Profit and Loss, except for those equity investments for which the Company has elected to
present the value changes in ''Other Comprehensive Income''. However, dividend on such equity
investments are recognised in Statement of Profit and loss when the Company''s right to receive
payment is established. Further investment in equity instruments that do not have a quoted market
price in an active market and whose fair value cannot be measured are quoted at Cost.

Other Financial Assets are generally measured at Fair Value Through Profit or Loss (FVTPL) except
where the Company, based on the business model objectives, measures these at Amortized Cost or
Fair Value Through Other Comprehensive Income (FVTOCI). Company has made disclosure of
measurement method in notes to account.

The Company uses ''Expected Credit Loss'' (ECL) model, for evaluating impairment of Financial Assets
other than those measured at Fair Value Through Profit or Loss (FVTPL). For Trade Receivables, the
Company applies ''simplified approach'' which requires expected lifetime losses to be recognised from
initial recognition of the receivables. The Company uses historical default rates to determine
impairment loss on the portfolio of trade receivables. At every reporting date these historical default
rates are reviewed and changes in the forward-looking estimates are analysed. For other assets, the
Company uses 12-month ECL to provide for impairment loss where there is no significant increase in
credit risk.

b) Financial Liabilities:

For trade and other payables maturing within one year from the balance sheet date, the carrying
amounts are determined to approximate fair value due to the short maturity of these instruments.

c) Offsetting:

Financial Assets and Financial Liabilities are offset and the net amount is presented in the balance
sheet when, and only when, the Company has a legally enforceable right to set off the amount and it
intends, either to settle them on a net basis or to realise the asset and settle the liability
simultaneously.

C. Use of estimates and judgements

The preparation of the Company''s Financial Statements requires management to make judgement,
estimates and assumptions that affect the reported amount of revenue, expenses, assets and liabilities and
the accompanying disclosures. Uncertainty about these assumptions and estimates could result in outcomes
that require a material adjustment to the carrying amount of assets or liabilities affected in next financial
years.

In the assessment of the Company, the most significant effects of use of judgments and/or estimates on
the amounts recognized in the financial statements are in respect of the following:

• Useful lives of property, plant & equipment;

• Valuation of inventories;

• Measurement of recoverable amounts of assets / cash-generating units;

• Assets and obligations relating to employee benefits;

• Evaluation of recoverability of deferred tax assets; and

• Provisions and Contingencies

Estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to the accounting
estimates are recognized in the period in which the estimates are revised and in any future periods affected.
The operating cycle is the time between the acquisition of assets for processing and their realization in cash
and cash equivalents. The company has identified twelve months as its operating cycle translation
differences on items whose fair value gain or loss is recognized in OCI or profit or loss are also recognized in
OCI or profit or loss, respectively).

Information about assumptions and estimation uncertainties that have a significant risk of resulting in a
material adjustment within the next financial year are included in the following notes:

• Current tax

• Fair valuation of unlisted securitie

For estimates relating to fair value of financial instruments refer note to financial statement.

D. Functional and presentation currency:

These standalone financial statements are presented in Indian Rupees (INR), which is the Company''s
functional currency. All financial information presented in INR has been rounded to the nearest lakhs, except
as stated otherwise.

E. Rounding off

All amounts disclosed in the financial statements and notes have been rounded off to the nearest Lakhs as
per the requirements of Schedule III, unless otherwise stated.

Recent accounting pronouncements

Recent pronouncements Ministry of Corporate Affairs ("MCA") notifies new standard or amendments to the
existing standards under Companies (Indian Accounting Standards) Rules as issued from time to time. On March
31, 2023, MCA amended the Companies (Indian Accounting Standards) Rules, 2015 by issuing the Companies
(Indian Accounting Standards) Amendment Rules, 2023, applicable from April 1, 2023, as below:

Ind AS 1 - Presentation of Financial Statements The amendments require companies to disclose their material
accounting policies rather than their significant accounting policies. Accounting policy information, together with
other information, is material when it can reasonably be expected to influence decisions of primary users of
general-purpose financial statements. The Group does not expect this amendment to have any significant impact
in its financial statements.

Ind AS 12 - Income Taxes The amendments clarify how companies account for deferred tax on transactions such
as leases and decommissioning obligations. The amendments narrowed the scope of the recognition exemption
in paragraphs 15 and 24 of Ind AS 12 (recognition exemption) so that it no longer applies to transactions that, on
initial recognition, give rise to equal taxable and deductible temporary differences. The Group is evaluating the
impact, if any, in its financial statements.

Ind AS 8 - Accounting Policies, Changes in Accounting Estimates and Errors The amendments will help entities to
distinguish between accounting policies and accounting estimates. The definition of a change in accounting
estimates has been replaced with a definition of accounting estimates. Under the new definition, accounting
estimates are "monetary amounts in financial statements that are subject to measurement uncertainty". Entities
develop accounting estimates if accounting policies require items in financial statements to be measured in a
way that involves measurement uncertainty.

The Group does not expect this amendment to have any significant impact in its financial statements.

Significant Accounting Policies For and on behalf of the Board of Directors

See accompanying notes to the Financial Statements REAL ECO-ENERGY LIMITED
As per our report of even date attached
For N. S. Nanavati & Co.

Chartered Accountants Dharm S Patel Hina S Patel

Firm Regn. No. 134235W (Managing Director) (Director)

(DIN- 07464810) (DIN- 01987053)

(CA. NITESH NANAVATI) Umesh Naik

Proprietor CFO

M.No.143769

UDIN: 25143769BMSBXK9846 Place: Ahmedabad

Place: Ahmedabad Date: 28.05.2025

Date: 28.05.2025

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Mar 31, 2024

NOTE 1. 1 OTHER INFORMATION PPE:

1. Details of title deeds of immovable properties not held in the name of the Company:

The company does not have any immovable property whose title deeds are not in the name of the company.

2. Details of revaluation of PPE:

The Company has not revalued any of its Property, Plant and Equipment.

3. Details of Intangible Asset under development:

There is no intangible asset under development as at the year-end

4. Details of Charge Created on PPE:

No charges or satisfaction is pending to be registered with Registrar of Companies beyond the statutory period

2. Rights, preferences and restrictions attached to equity shares

Equity Shares

The Company has one class of equity shares having par value of Rs. 10/- per share. Each member is eligible for one vote per share held. Company has not declared any dividend till date of this report for the current financial year. In the event of liquidation, the equity shareholders are eligible to receive the remaining assets of the Company after distribution of all preferential amount, in proportion to their shareholding.

3. The Company does not have any holding company.

Description of nature and purpose of each Reserve:

a) Capital Reserve

The excess/short of net assets taken over the cost of consideration paid is treated as capital reserve at time of amalgamation. Difference between Assets and Liabilities transferred on account of demerger is transferred to capital reserve at the time of demerger.

b) Equity Security Premium

The amount received in excess of face value of the equity shares is recognised in equity security premium.

c) Capital Redemption Reserve

It represents reserve created on forfeited of equity shares. It is a non-distributable reserve.

d) General Reserve

General reserve is created from time to time by way of transfer of profits from retained earnings for appropriation purposes. General reserve is created by a transfer from one component of equity to another and is not an item of other comprehensive income.

e) Other Comprehensive income

1. The fair value change of the equity instruments measured at fair value through other comprehensive income is recognized in equity instruments through Other Comprehensive Income.

2. The remeasurement gain/(loss) on net defined benefit plans is recognized in Other Comprehensive Income net of tax.

f) Retained Earnings

Retained earnings are the profits that the Company has earned till date less transfer to other reserves, dividends or other distributions to shareholders.

Payable to MSME Suppliers

Information required to be furnished as per Section 22 of the Micro, Small and Medium Enterprises Development Act, 2006 (MSMED Act) and Schedule III of the Companies Act, 2013 for the year ended March 31, 2023. This information has been determined to the extent such parties have been identified on the basis of information available with the Company and relied upon by auditors.

Note 27(A):

Income Tax Expenses consists of current and deferred income tax. Income tax expenses are recognized in net profit in Statement of Profit & Loss. Current income tax for current and prior period is recognized at the amount expected to be paid from the tax authorities, using the tax rates. Deferred Income tax assets and liabilities are recognized for all temporarily differences arising from tax base of assets and liabilities and their carrying amount in the financial statements.

NOTE- 29- FINANCIAL INSTRUMENTS

1. Capital management

The Company manages its capital to ensure that the Company will be able to continue as a going concern while maximising the return to stakeholders through the optimisation of the debt and equity balance.

The capital structure of the Company consists of net debt and total equity of the Company.

For financial liabilities (domestic currency loans): - appropriate market borrowing rate of the entity as of each balance sheet date used.

FAIR VALUE HIERARCHY

The following section explains the judgements and estimates made in determining the fair values of the financial instruments that are recognised and measured at fair value through profit or loss. To provide indication about the reliability of the input used in degerming the fair value, the company has classified its financial investments into three level prescribed under the accounting standard. An explanation of each follows as under:

Notes:

Level 1- Level 1 hierarchy includes financial instruments measured using quoted prices. This Includes listed equity instruments that have quoted price. Listed and actively traded equity instruments are stated at the last quoted closing price on the National Stock Exchange of India Limited (NSE).

Level 2- The fair value of financial instruments that are not traded in active market is determined using valuation techniques which maximize 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 of unlisted compound instrument. There is no transfer in any of levels in between the year. The valuation is doe at the cost of acquisition.

Valuation Methodology:

1. The fair value of investment in quoted Equity Shares, Bonds, Government Securities, Treasury Bills, Certificate of Deposits and Mutual Funds is measured at quoted price or NAV.

2. The fair value for Level 3 instruments is valued using inputs based on information about market participants assumptions and other data that are available.

3. The fair value of trade payable and trade receivable are measured at the excepted price of payment or expected amount of receipt (net of credit loss).

The following tables detail the Company''s remaining contractual maturity for its non-derivative financial liabilities with agreed repayment periods and its non-derivative financial assets. The tables have been drawn up based on the undiscounted cash flows of financial liabilities based on the earliest date on which the Company can be required to pay.

NOTE - 31 - FINANCIAL AND OTHER RISK MANAGEMENT

The Group’ s activities expose it to variety of financial risks: market risk, credit risk, interest rate risk and liquidity risk. Within the boundaries of approved Risk Management Policy framework, the Group uses different risk mitigating methods to manage the volatility of financial markets and minimise the adverse impact on its financial performance.

1. Foreseeable Losses

The Company has a process whereby periodically all long-term contracts are assessed for material foreseeable losses. At the year end, the Company has reviewed and ensured that adequate provision as required under any law/ applicable accounting standards for material foreseeable losses on such long-term contracts has been made in the books of account.

2. Note On Pending Litigations

The Company has reviewed its pending litigations and proceedings and has adequately provided for where Provisions are required and disclosed the contingent liabilities where applicable, in its financial statements. The Company does not expect the outcome of these proceedings to have a materially adverse effect on its financial results. In respect of litigations, where the management assessment of a financial outflow is probable, the Company has made adequate provision in the financial statements and appropriate disclosure for contingent liabilities.

3. Financial Risk Management Objectives

The Company''s Corporate finance department provides services to business, co-ordinates access to domestic and international financial markets, monitors and manages the financial risks relating to the operations of the Company through internal risk reports which analyse the exposures by degree and magnitude of risks. These risks include market risk (including currency risk, interest rate risk and other price risk), credit risk and liquidity risk.

Market Risk Management

Market risk is the risk that the fair value of future cash flows of a financial instrument will fluctuate because of changes in market prices. Market risk comprises three types of risk: interest rate risk, currency risk and other price risk, such as equity price risk and commodity risk.

The Company''s activities expose it primarily to the price fluctuation risk of goods in which it trades and change in government policies. The Company does not enter into derivative contracts to manage risks related to anticipated sales and purchases. Moreover, the whole of revenue of the company comes from limited customers only; loss of single customer will have major impact on earnings of the company. Interest Rate Risk Management

The Group is not exposed to interest rate risk as it has borrowing is from related party which is subject to fixed rate of interest.

Foreign Currency Risk Management

The Company is not exposed to foreign currency risk as it operates in domestic market and has no assets and liabilities denominated/repayable or receivable in foreign currency.

Credit Risk Management

Credit risk refers to the risk that a counterparty will default on its contractual obligations resulting in financial loss to the Company. Credit risk encompasses of both, the direct risk of default and the risk of deterioration of creditworthiness as well as concentration risks. The Company has adopted a policy of only dealing with creditworthy counterparties and obtaining sufficient collateral, where appropriate, as a means of mitigating the risk of financial loss from defaults. The Company uses publicly available financial information and its own trading records to rate its major customers. The Company''s exposure and the credit ratings of its counterparties are continuously monitored and the aggregate value of transactions concluded is spread amongst approved counterparties.

Ongoing credit evaluation is performed on the financial condition of accounts receivable.

4. Collateral held as security and other credit enhancements

The Company does not hold any collateral or other credit enhancements to cover its credit risk associated with its financial assets.

5. Liquidity Risk Management

Liquidity risk refers to the risk of financial distress or extraordinary high financing costs arising due to shortage of liquid funds in a situation where business conditions unexpectedly deteriorate and requiring financing. Ultimate responsibility for liquidity risk management rests with the board of directors, which has established an appropriate liquidity risk management framework for the management of the Company''s short, medium and long-term funding and liquidity management requirements. The Company manages liquidity risk by maintaining adequate reserves, banking facilities and reserve borrowing facilities, by continuously monitoring forecast and actual cash flows, and by matching the maturity profiles of financial assets and liabilities.

6. Disclosure as per Ind AS 113 - Fair Value Measurements

The fair values of the financial assets and liabilities are included at the amount at which the instrument could be exchanged in an orderly transaction in the principal (or most advantageous) market at measurement date under the current market condition regardless of whether that price is directly observable or estimated using other valuation techniques.

Specific valuation technique is used to determine the fair value of the financial instruments which include:

i) For financial instruments other than (ii):- In accordance with generally accepted pricing models based on Net Asset Value analysis using prices from observable market transactions and dealer quotes of similar instruments.

ii) For financial liabilities (domestic currency loans) :- appropriate market borrowing rate of the entity as of each balance sheet date used.

NOTE-32 - CONTINGENT LIABILITIES AND COMMITMENTS

1. The company does not have any contingent liabilities and commitments for the year ended on March 31, 2024 and March 31, 2023.

NOTE- 33 - DISCLOSURE UNDER MSME ACT, 2006 FOR DUES TO MICRO, SMALL AND MEDIUM ENTERPRISE

1. The Company has not received full information from vendors regarding their status under Micro, Small and Medium Enterprises Development Act, 2006 (MSME Act); thus, amount unpaid cannot be ascertained and disclosure relating to amount unpaid at year end together with interest paid/payable cannot be made.

NOTE - 34 - SEGMENT INFORMATION AND REPORTING (IND AS 108)

1. The Managing Director/ Chief Executive Officer of the Company allocate resources and assess the performance of the Company, thus are the Chief Operating Decision Maker (CODM).

36 Balance of Trade receivables, Trade payables, loans and advances are subject to confirmation from the respective parties.

37 The financial statements are approved by the audit committee as at its meeting and by the Board of Directors on May 29,2024.

38 Management expects that the entire transaction price allotted to the unsatisfied contract as at the end of the reporting period will be recognised as revenue during the next financial year.

39 Figures have been presented in ''Lacs'' of rupees with two decimals.

40 The figures of previous year have been regrouped or rearranged wherever necessary to conform to current year''s presentation as per Schedule III (Division II) to the Companies Act 2013.

Note: Reasons for significant variation in ratios (< 25% Variation)

1. Current Asset Ratio

This ratio has improved significantly. This is because there is significant reduction is current liability. The amount of creditors have been reduced significantly. This has improved current ratio of the company.

2. Debt Service Coverage Ratio

This ratio has improved significantly as company has booked higher profit the current reporting year as compared to previous reporting year. This higher profit is on account of other income booked by company and not from normal business operations.

3. Return on Equity

This ratio has improved significantly as company has booked higher profit the current reporting year as compared to previous reporting year. This higher profit is on account of other income booked by company and not from normal business operations.

4. Trade Receivables Turnover Ratio

This ratio has decreased significantly due to decline in sales. The sales of the company have declined significantly in the current year. The current year sales is Rs. 30.72 lakhs as compared to Rs. 677.79 lakhs during previous reporting period.

5. Net Capital Turnover Ratio

This ratio has decreased significantly due to decline in sales. The sales of the company have declined significantly in the current year. The current year sales is Rs. 30.72 lakhs as compared to Rs. 677.79 lakhs during previous reporting period.

6. Net Profit Ratio

This ratio has improved due to combined effect of increase in current year profit and decline in over all sales of the company. The proportionate profitability has increased. However, this higher profit is on account of other income booked by company and not from normal business operations.

7. Return on Capital Employed

This ratio has improved significantly as company has booked higher profit the current reporting year as compared to previous reporting year. This higher profit is on account of other income booked by company and not from normal business operations.

8. Inventory Turnover Ratio:

There is no inventory of the goods traded by the company as on reporting period. Company has sold the entire inventory. The inventory as reported in books of account represents work-inprogress of real estate segment in which no activities are done by the company during reporting period.

NOTE - 47 : COMPLIANCE WITH NUMBER OF LAYERS OF COMPANIES

Company has complied with the number of layers prescribed under clause (87) of section 2 of the Act read with Companies (Restriction on number of Layers) Rules, 2017.

NOTE - 48 : COMPLIANCES WITH SECTION 230 TO 237

As informed by the management and on the basis of examination of available record, Company has not prepared any Scheme of Arrangements in terms of sections 230 to 237 of the Companies Act, 2013

NOTE - 49 : UTILIZATION OF BORROWED FUNDS AND SHARE PREMIUM

a) During the year, no funds have been advanced or loaned or invested (either from borrowed funds or share premium or any other sources or kind of funds) by the Company to or in any other persons or entities, including foreign entities ("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.

b) During the year, no funds have been received by the Company from any persons or entities, including foreign entities ("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.

1. Company has not obtained borrowing from bank and thus reporting relating to accuracy of details of current asset filed by the Company with Bank for its borrowings are not applicable.

2. No charges or satisfaction is pending to be registered with Registrar of Companies beyond the statutory period.

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Mar 31, 2023

M. Provisions, Contingent liabilities, Contingent assets and Commitments General

Provisions are recognized when the company has a present obligation (legal or constructive) as a result of a past event, it is probable that an outflow of resources embodying economic benefits will be required to settle the obligation and a reliable estimate can be made of the amount of the obligation. When the company expects some or all of a provision to be reimbursed, for example, under an insurance contract, the reimbursement is recognized as a separate asset, but only when the reimbursement is virtually certain. The expense relating to a provision is presented in the statement of profit and loss net of any reimbursement.

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 recognized as a finance cost.

Contingent liability is disclosed in the case of:

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

2. A present obligation arising from the past events, when no reliable estimate is possible;

3. A possible obligation arising from the past events, unless the probability of outflow of resources is remote.

Commitments include the amount of purchase order (net of advances) issued to parties for completion of assets.

The company provides for the expenses to reclaim the quarries used for mining. The total estimate of reclamation expenses is apportioned over the estimate of mineral reserves and a provision is made based on the minerals extracted during the year. Mines reclamation expenses are incurred on an ongoing basis and until the closure of the mine. The actual expenses may vary based on the nature of reclamation and the estimate of reclamation expenditure.

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

N. Dividend

Provision is made for the amount of any dividend declared, being appropriately authorized and no longer at the discretion of the entity, on or before the end of the reporting period but not distributed at the end of the reporting period.

The Company recognizes a liability to make cash distributions to equity holders of the Company when the distribution is authorized, and the distribution is no longer at the discretion of the Company. Final dividends on shares are recorded as a liability on the date of approval by the shareholders and interim dividends are recorded as a liability on the date of declaration by the Company''s Board of Directors. The interim dividends declared during the year are approved by the Board of Directors.

However, no dividend has been paid by Company during the year.

O. Earnings per share

Basic earnings per share are calculated by dividing the net profit for the period attributable to equity shareholders by the weighted average number of equity shares outstanding during the period. Earnings considered in ascertaining the company''s earnings per share is the net profit for the period after deducting preference dividends and any attributable tax thereto for the period. The weighted average number of equity shares outstanding during the period and for all periods presented is adjusted for events, such as bonus shares, other than the conversion of potential equity shares that have changed the number of equity shares outstanding, without a corresponding change in resources.

For the purpose of calculating diluted earnings per share, the profit or loss for the period attributable to equity shareholders and the weighted average number of shares outstanding during the period is adjusted for the effects of all dilutive potential equity shares. Dilutive potential equity shares are deemed converted as of the beginning of the period, unless they have been issued at a later date. The diluted potential equity shares have been arrived at, assuming that the proceeds receivable were based on shares having been issued at the average market value of the outstanding shares. In computing dilutive earnings per share, only potential equity shares that are dilutive and that would, if issued, either reduce future earnings per share or increase loss per share, are included.

P. Use of estimates and judgements

The presentation of the financial statements is in conformity with the Ind AS which requires the management to make estimates, judgments and assumptions that affect the reported amounts of assets and liabilities, revenues and expenses and disclosure of contingent liabilities. Such estimates and assumptions are based on management''s evaluation of relevant facts and circumstances as on the date of financial statements. The actual outcome may differ from these estimates.

Estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to the accounting estimates are recognized in the period in which the estimates are revised and in any future periods affected.

Information about assumptions and estimation uncertainties that have a significant risk of resulting in a material adjustment within the next financial year are included in the following notes:

• Current tax

• Fair valuation of unlisted securities

Q. Statement of cash flows

Cash flow are reported using the indirect method, whereby net profit before tax is adjusted for the effects of transactions of a non-cash nature, any deferrals of accruals of past or future operating cash receipts or payments and item of income or expenses associated with investing or financing cash flows. The cash flows from operating, investing and finance activities of the company are segregated.

R. Current and non-current classification

The company presents assets and liabilities in the balance sheet based on current/ non-current classification. An asset is treated as current when it is:

i. Expected to be realized or intended to be sold or consumed in normal operating cycle;

ii. Held primarily for the purpose of trading;

iii. Expected to be realized within twelve months after the reporting period, or

iv. Cash or cash equivalent unless restricted from being exchanged or used to settle a liability for at least twelve months after the reporting period

All other assets are classified as non-current.

A liability is current when:

i. It is expected to be settled in normal operating cycle;

ii. It is held primarily for the purpose of trading;

iii. It is due to be settled within twelve months after the reporting period, or

iv. There is no unconditional right to defer the settlement of the liability for at least twelve months after the reporting period

All other liabilities are classified as non-current.

Deferred tax assets and liabilities are classified as non-current assets and liabilities.

Operating Cycle

The operating cycle is the time between the acquisition of assets for processing and their realization in cash and cash equivalents. The company has identified twelve months as its operating cycle. translation differences on items whose fair value gain or loss is recognized in OCI or profit or loss are also recognized in OCI or profit or loss, respectively).

S. Rounding off

All amounts disclosed in the financial statements and notes have been rounded off to the nearest Lakhs as per the requirements of Schedule III, unless otherwise stated.

• Recent accounting pronouncements

Recent pronouncements Ministry of Corporate Affairs ("MCA") notifies new standard or amendments to the existing standards under Companies (Indian Accounting Standards) Rules as issued from time to time. On March 31, 2023, MCA amended the Companies (Indian Accounting Standards) Rules, 2015 by issuing the Companies (Indian Accounting Standards) Amendment Rules, 2023, applicable from April 1, 2023, as below:

Ind AS 1 - Presentation of Financial Statements The amendments require companies to disclose their material accounting policies rather than their significant accounting policies. Accounting policy information, together with other information, is material when it can reasonably be expected to influence decisions of primary users of general-purpose financial statements. The Group does not expect this amendment to have any significant impact in its financial statements.

Ind AS 12 - Income Taxes The amendments clarify how companies account for deferred tax on transactions such as leases and decommissioning obligations. The amendments narrowed the scope of the recognition exemption in paragraphs 15 and 24 of Ind AS 12 (recognition exemption) so that it no longer applies to transactions that, on initial recognition, give rise to equal taxable and deductible temporary differences. The Group is evaluating the impact, if any, in its financial statements.

Ind AS 8 - Accounting Policies, Changes in Accounting Estimates and Errors The amendments will help entities to distinguish between accounting policies and accounting estimates. The definition of a change in accounting estimates has been replaced with a definition of accounting estimates. Under the new definition, accounting estimates are "monetary amounts in financial statements that are subject to measurement uncertainty". Entities develop accounting estimates if accounting policies require items in financial statements to be measured in a way that involves measurement uncertainty.

The Group does not expect this amendment to have any significant impact in its financial statements.

• Other Statutory Information:

1. Details of Benami Property: The Company does not have any Benami property, where any proceeding has been initiated or pending against the Company for holding any Benami property.

2. Details of Charges: The Company does not have any charges or satisfaction which is yet to be registered with ROC beyond the statutory period.

3. Details of crypto currency or virtual currency: The Company has not traded or invested in Crypto currency or Virtual Currency during the financial year.

4. Utilization of borrowed funds and share premium:

The Company has not received any fund from any person(s) or entity(is), including foreign entities (Funding Party) with the understanding (whether recorded in writing or otherwise) that the Company shall:

(a) directly or indirectly lend or invest in other persons or entities identified in any manner whatsoever by or on behalf of the Funding Party (Ultimate Beneficiaries) or

(b) provide any guarantee, security or the like on behalf of the Ultimate Beneficiaries.

5. Undisclosed income: The Company does not have any transaction which is not recorded in the books of accounts that has been surrendered or disclosed as income during the year in the tax assessments under the Income Tax Act, 1961 (such as, search or survey or any other relevant provisions of the Income Tax Act, 1961.

6. Willful Defaulter: The Company is not declared as willful defaulter by any bank or financial institution (as defined under the Companies Act, 2013) or consortium thereof or other lender in accordance with the guidelines on willful defaulters issued by the Reserve Bank of India.

7. Compliance with number of layers of companies: As the company has no holding or subsidiary company, requirement with respect to number of layers prescribed under clause 87 of sub section 2 of the Companies Act, 2013 read with companies (restriction on number of layers) rules, 2017 is not applicable.

8. Valuation of PP&E, intangible asset and investment property: The Company has not revalued any of its Property, Plant and Equipment (including Right-of-Use Assets) during the year.

9. Compliance with approved scheme(s) of arrangements: The Company has not entered into any scheme of arrangement which has an accounting impact on current

In terms of my report attached For and on behalf of the Board of Directors

For N. S. Nanavati & Co. REAL ECO-ENERGY LIMITED

Chartered Accountants Firm Regn. No. 134235W

(CA. NITESH NANAVATI) Dharm S Patel Hina S Patel

Proprietor (Managing Director) (Director)

M.No. 143769 (DIN- 07464810) (DIN- 01987053)

UDIN: 23143769BGWTJR9777

Harsh H Shah Umesh Naik

(Company Secretary) (Chief Executive Officer)

Date: 29.05.2023 Date: 29.05.2023

Place: Ahmedabad Place: Ahmedabad

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Mar 31, 2016

(a) Terms/Rights attached to Equity Shares

The company has only one class of equity shares having a per share 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 remaining assets of the company, after distribution of all preferential amounts. The distribution will be in proportion to the number of equity shares held by the shareholders.

A Allahabad Bank - Term Loan

1 Term Loan of Allahabad Bank is secured against the land area of bungalow no 1-23, 25, 27-29, 31-35, 38-41 having total land area of 16479.72 sq mtrs.

2 Rate of Interest on loan from Allahabad Bank is 4.5% over base rate.

3 Loan from Allahabad Bank is repayable in 15 months including initial moratorium period of 3 months from the date of first disbursement i.e. 20/06/2013.

4 Company has defaulted in repayment of Term loan from Allahabad Bank. Term Loan was to be repaid in September 2014. However, it was repaid in January, 2016.

B AU Financiers Ltd - Term Loan

5 Term Loan is secured by registered mortgage on the property situated at consolidated "Windsor Wood" Plot No 1, R S No 37 paiki 1 paiki 2 of Village Jivapar, near Beiti Bridge, Taluka Chotila Dist. Surendranagar admeasuring 12535.65 sq mtrs.

6 Loan from AU Financiers Ltd is repayable in 18 EMI of Rs. 57,42,520/- after completion of moratorium period of 24 months.

7 Rate of interest on Loan from AU Financiers Bank is 18% rate.

C Unsecured Loan from Directors / ex-directors

8 Unsecured loan from directors / ex-directors are interest free and repayable on demand.

Balance Outstanding with MSMED Suppliers -

The Management of the Company represents that, based on the information and suppliers profile available with the Company as at March 31, 2016, the management believes that no trade payable is covered under Micro, small and Medium Enterprise Development Act, 2006. As a result, no interest provision or payments have been made by the company to such suppliers, if any and no related disclosures are made in these accounts.

Trade payable is subject to balance Confirmation.

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Mar 31, 2015

1. Nature of Operations

Real Realty Management Company Limited [ Earlier known as Hill lock Agro Foods (India) Limited] was incorporated on 03/08/1993 is a manufacturer of Brass & Copper Extrusion and Components.

2. Basis of Preparation

The financial statements have been prepared to comply in all material respects with the standards specified under Section 133 of the Companies Act, 2013 ("Act"), read with Rule 7 of the Companies (Accounts) Rules, 2014 and the relevant provisions of the Act. The financial statements have been prepared under historical cost convention on an accrual basis except in case of assets for which provision for impairment is made. The accounting policies have been consistently applied by the Company and except for the changes in accounting policy discussed below, are consistent with those used in the previous year.

3. PREVIOUS YEAR FIGURES

Previous year figures have been regrouped / reclassified, where necessary, to conform to this year's classification.

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Mar 31, 2014

1 Nature of Operations

Real Realty Management Company Limited [Formerly known as Hillock Agro Foods (India) Limited], incorporated on 03/08/1993. The company is engaged in business of Real Estate development

2 Basis of Preparation

The financial statements have been prepared to comply in all material respects with the standards notified under The Companies (Accounting Standards) Rules, 2006 and the relevant provisions of the Companies Act, 1956. The financial statements have been prepared under historical cost convention on an accrual basis except in case of assets for which provision for impairment is made. The accounting policies have been consistently applied by the Company and except for the changes in accounting policy discussed more fully below, are consistent with those used in the previous year.

3 Amalgamation and Demerger

A The company has applied for scheme of demerger of its agro division into Deepvandana Tradelink Private Limited and amalgamation of Real Realty Management Company Private Limited with the company on 13/04/2011 and filed petition on 16/05/2011. The Scheme is approved by Honourable High Court of Gujarat vide order dated 01/11/2012 with appointed date as 01/07/2010 and company has filed the copy of High Court Order with Registrar of Companies on 07/02/2013. Hence, as per scheme of arrangement it is effective from 07/02/2013.

B Pursuant to scheme of arrangement, the company''s share capital is reduced from Rs.4,01,06,000/- to Rs.1,20,31,800/-. However, record date for reduction of share capital is fixed on 14/05/2013.

C Pursuant to scheme of arrangement the company has allotted 36,00,000 fully paid up equity shares of Rs. 10 each at price of Rs. 19.67 to the shareholders of Real Realty Management Company Private Limited on 17/05/2013. Hence, as at 31st March, 2013 36,00,000 pending to be issued is shown as Equity Share Suspense.

D The net impact of income accruing and expense incurred by the transferor companies from appointed date till the date of high court order is incorporated in the statement of profit and loss of current financial year, as the transferor companies carried on the existing business in "trust" on the behalf of the company and all the vouchers, documents, etc. for that period were made in the name of the transferor companies.

E Excess of liability over transfer Assets on demerger of agro Division into Deepvandana Tradelink Private Limited is to credited to General Reserve

F Excess Consideration paid on amalgamation with Real Realty Management Company Private Limited is treated as Goodwill and Shown as Intangible Assets in Balance sheet.

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Mar 31, 2013

1 Nature of Operations

Real Realty Management Co. Pvt. Ltd [Formerly known as Hillock Agro Foods (India) Limited], incorporated on 03/08/1993. The company is engaged in business of Real Estate development

2 Basis of Preparation

The financial statements have been prepared to comply in all material respects with the standards notified under The Companies (Accounting Standards) Rules, 2006 and the relevant provisions of the Companies Act, 1956. The financial statements have been prepared under historical cost convention on an accrual basis except in case of assets for which provision for impairment is made. The accounting policies have been consistently applied by the Company and except for the changes in accounting policy discussed more fully below, are consistent with those used in the previous year.

3 Amalgamation and Demerger

A The company has applied for scheme of demerger of its agro division into Deepvandana Tradelink Private Limited and amalgamation of Real Realty Management Company Private Limited with the company on 13/04/2011 and filed petition on 16/05/2011. The Scheme is approved by Honourable High Court of Gujarat vide order dated 01/11/2012 with appointed date as 01/07/2010 and company has filed the copy of High Court Order with Registrar of Companies on 07/02/2013. Hence, as per scheme of arrangement it is effective from 07/02/2013.

B Pursuant to scheme of arrangement, the company''s share capital is reduced from Rs.4,01,06,000/- to Rs.1,20,31,800/-. However, record date for reduction of share capital is fixed on 14/05/2013.

C Pursuant to scheme of arrangement the company has allotted 36,00,000 fully paid up equity shares of Rs. 10 each at price of Rs. 19.67 to the shareholders of Real Realty Management Company Private Limited on 17/05/2013. Hence, as at 31st March, 2013 36,00,000 pending to be issued is shown as Equity Share Suspense.

D The net impact of income accruing and expense incurred by the transferor companies from appointed date till the date of high court order is incorporated in the statement of profit and loss of current financial year, as the transferor companies carried on the existing business in "trust" on the behalf of the company and all the vouchers, documents, etc. for that period were made in the name of the transferor companies.

E Excess of liability over transfer Assets on demerger of agro Division into Deepvandana Tradelink Private Limited is to credited to General Reserve

F Excess Consideration paid on amalgamation with Real Realty Management Company Private Limited is treated as Goodwill and Shown as Intangible Assets in Balance sheet. G The Figures of Previous Year of Balance sheet and Profit and Loss Account is not Comparable with the Figure of Current Year because of the effect of Scheme of Demerger and Amalgamation given in the Current year.

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Mar 31, 2012

1 Nature of Operations

Hillock Agro Foods (India) Limited, incorporated on 03-08-1993 is engaged in manufacturing, processing and dealing as exporters for Floor, food Agro business.

2 Basis of Preparation

The financial statements have been prepared to comply in all material respects with the standards notified under The Companies (Accounting Standards) Rules, 2006 and the relevant provisions of the Companies Act, 1956. The financial statements have been prepared under historical cost convention on an accrual basis except in case of assets for which provision for impairment is made. The accounting policies have been consistently applied by the Company and except for the changes in accounting policy discussed more fully below, are consistent with those used in the previous year.

3 Other Notes

(a) Previous years figures are regrouped and rearranged wherever necessary to meet current year classification.

(b) Going Concern

The net worth of the company has eroded. However, the company expects to revive its financial position and expects to venture into some new area of business. The business plans are under consideration and when implemented it is expected that the same shall lead to improvement in its operational performance in future. Considering these facts, the accounts of the comapny are prepared on going concern basis.

Further, the company has applied for scheme of demerger and amalgamation on 13/04/11 and petition date on 16/05/11 with effect from 01/07/10. Final approval for the scheme is pending with the High Court.

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Mar 31, 2009

1.Previous Years Figures have been regrouped and rearranged wherever necessary and they are not comparable with the Current years Figures.

2.Balances of Receivables, Other Current Assets, Loans and Advances, Creditors, Current Liabilities are shown on the basis of book value, and subject to confirmation.

3.In the opinion of the Board of Director Current Assets and Loans and Advances are approximately of the value stated, if realized in the ordinary course of business.

4. Provision for Income Tax :

Company has not provided for Incometax or MAT as the same is not applicable because of accumulated losses and unabsorbed depreciation.