Notes to Accounts of Shree Ganesh Bio-Tech (India) Ltd.

Mar 31, 2018

1. Company overview

Shree Ganesh Biotech India Ltd is a leading Distributor, Supplier, Trading Company of Agro product -potato, paddy seed & medical plantation of stegia & white musli, cashews, canned food. The company is a public limited company incorporated and domiciled in India and has its registered office at 6th Floor, Premises - 602, Mahavir Apartment, 2, Ashutosh Mukherjee Road, Kolkata, West Bengal - 700020. The company has its primary listings on the BSE Limited, MSEI Limited and Calcutta Stock Exchange in India.

Basis of preparation

These financial statements are prepared in accordance with Indian Accounting Standards (Ind AS), under the historical cost convention on the accrual basis except for certain financial instruments which are measured at fair values, the provisions of the Companies Act , 2013 (''the Act'') (to the extent notified) and guidelines issued by the Securities and Exchange Board of India (SEBI). The Ind AS are prescribed under Section 133 of the Act read with Rule 3 of the Companies (Indian Accounting Standards) Rules, 2015 and the relevant amendment rules issued thereafter.

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

Use of Estimates

The preparation of the financial statements in conformity with Ind AS requires the Management to make estimates, judgments and assumptions. These estimates, judgments and assumptions affect the application of accounting policies and the reported amounts of assets and liabilities, the disclosures of contingent assets and liabilities at the date of the financial statements and reported amounts of revenues and expenses during the period. The application of accounting policies that require critical accounting estimates involving complex and subjective judgments and the use of assumptions in these financial statements have been disclosed. Accounting estimates could change from period to period. Actual results could differ from those estimates. Appropriate changes in estimates are made as the Management becomes aware of changes in circumstances surrounding the estimates. Changes in estimates are reflected in the financial statements in the period in which changes are made and, if material, their effects are disclosed in the notes to the financial statements.

Note: 2 Balances of Sundry Debtors, Creditors, Loans and Advances are subject to confirmation and reconciliation.

Note: 3 In the opinion of the Board of directors, the current assets, Loans & advances are approximately of the value stated if realized in the ordinary course of business. The provision of all known liabilities is adequate and not in excess of the amount reasonably necessary.

Note: 4 No remuneration has been paid to the directors during the year.

Note: 5 No related party transaction were carried out during the year.

Note: 6 there is no reportable segment as per the contention of the management.

Note: 7 Basic and Diluted Earnings per share (EPS) computed in accordance with Accounting Standard (AS) 20 "Earning Per Share"

Note: 8 previous year figures have been regrouped and recasted wherever necessary.

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Mar 31, 2015

Note- 1.

As for information available with the Company there are no suppliers covered under Micro Small & Medium less Development Act 2005 As a result no interest: provisory payment such creditors if any and no disclosure thereof is. made in this regard

NOTE - 2.

RELATED PARTY DISCLOSURE

There are no transactions or outstanding balances with the related party which is required to be disclosed in terms of the provisions of AS- 18 and Companies Act 2013.

NOTE - 3.

Previous year figures have also been regrouped and rearranged where ever considered necessary.

NOTE-4.

Company has assessed its fixed assets for impairment at the end of the year and concluded that there has been no significant impaired fixed assets that needs to be recognised in the books of accounts.

NOTE -5.

EXPENDITURE AND EARNING IN FOREIGN CURRENCY

During the period under review there was no foreign exchange earnings or out Row NOTE-26

SEGMENT REPORTING

i) Business (Primary) Segment

The Company operates in a single primary business segment namely plantation of agriculture procedure and there is no reportable primary segment as per AS- 17 on segment reporting

ii) Secondary Segment (By Geographical Segment)

The secondary segment is based on geographical demarcation i.e India and rest of the world there is no reportable segment under above category

NOTE - 6.

The Company is engaged in the business of plant as the income arises from this are except to tax

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Mar 31, 2013

Not available

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Mar 31, 2012

1. Figures of the previous year have been registered & rearranged wherever necessary so as to make them comparable with the figures of the current year.

2. Auditors Remuneration - as audit fees Rs. 11030/-

3. No provisions have been made in the account for gratuity as no emloyees has put in qualifying period of service.

4. Since the company has no employees drawing remuneration in excess of the limits prescribed U/S 217(2A) of the companies Act,1956 details relating to remuneration as desired by paragraphs 2 to 3 (2) of part II of Schedule VI of the companies Act, 1956, cannot be furnished.

5. Shree Ganesh Biotech (India) Pvt limited and S.P Commercial Company limited have amalgamated with effect from 1st April 2008 as per the court ordered dated 15.02.2010. The amalgamated company will be counting the business of the transferor company which is in the nature of agriculture and will conduct the business as per the object clause of the amalgamated company.