Notes to Accounts of Suryo Foods & Industries Ltd.

Mar 31, 2015

1) The deferred tax assets has not been recognized as the company has huge unabsorbed deprecation and carry forwards losses under the income tax Act and there is no virtual certainty supported by convincing evidence that sufficient future taxable income will be available against which such deferred tax asset can be realized.

2) The activities of the Hatchery, Aquaculture and Processing unit have been suspended in general.

3) Loans and Advances include an amount of Rs2,62,807/- being ESI paid under Protest.

4) Contingent Liabilities

a) Claim against the company towards listing fee for stock exchange not acknowledged as debts, as the trading of the shares of the Company is under suspension. Since claims against the company are not available, the liabilities have not been ascertained. The company is taking necessary steps for lifting of suspension and dues to stock exchanges shall be paid in due course time.

b) ESI has made claim against the Company amounting to Rs.9, 63,627/- against which Rs. 2, 62,807/- is paid under protest. The matter is under sub-judice.

5) No provision has been made for impairment of Assets as the realizable value of assets has been increased substantially.

6) The Company does not owe to any micro, small scale and medium enterprises for which disclosure is not required under Micro, Small and Medium enterprises Development Act, 2006.

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Mar 31, 2014

I) The deferred tax assets has not been recognised as the Company has huge unabsorbed depreciation and carry forward losses under the Income Tax Act and there is no virtual certainty supported by convincing evidence that sufficient future taxable income will be available against which such deferred tax asset can be realised.

ii) The activities of the Hatchery, Aquaculture and Processing unit have been suspended in general.

iii) Loans and Advances include an amount of Rs.2,62,807/- being ESI paid under protest.

iv) Contingent Liabilities

a) Claim against the Company towards listing fee for stock exchanges not acknowledged as debts, as the trading of the shares of the Company is under suspension. Since claims against the company are not available, the liabilities have not been ascertained. The company is taking necessary steps for lifting of suspension and dues to stock exchanges shall be paid in due course of time.

b) ESI has made claim against the Company amounting to Rs.9,63,627/- against which Rs.2,62,807/- is paid under protest. The matter is under sub-judice.

iv) No provision has been made for impairment of Assets as the realisable value of Assets has been increased substantially.

v) The Company does not owe to any micro, small scale and medium enterprises for which disclosure is not required under Micro, Small and Medium enterprises Development Act, 2006.

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Mar 31, 2013

I) The deferred tax assets has not been recognised as the Company has huge unabsorbed depreciation and carry forward losses under the Income Tax Act and there is no virtual certainty supported by convincing evidence that sufficient future taxable income will be available against which such deferred tax asset can be realised.

ii) The activities of the Hatchery, Aquaculture and Processing unit have been suspended in general.

iii) Loans and Advances include an amount of Rs.2,62,807/- being ESI paid under protest.

iv) Contingent Liabilities

a) Claim against the Company towards listing fee for stock exchanges not acknowledged as debts, as the trading of the shares of the Company is under suspension. Since claims against the company are not available, the liabilities have not been ascertained. The company is taking necessary steps for lifting of suspension and dues to stock exchanges shall be paid in due course of time.

b) ESI has made claim against the Company amounting to Rs.9,63,627/- against which Rs.2,62,807/- is paid under protest. The matter is under sub-judice.

v) No provision has been made for impairment of Assets as the realisable value of Assets has been increased substantially.

iv) The Company does not owe to any micro, small scale and medium enterprises for which disclosure is not required under Micro, Small and Medium enterprises Development Act, 2006.

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Mar 31, 2012

1. The deferred tax assets has not been recognised as the Company has huge unabsorbed depreciation and carry forward losses under the Income Tax Act and there is no virtual certainty supported by convincing evidence that sufficient future taxable income will be available against which such deferred tax asset can be realised.

2. The activities of the Hatchery, Aquaculture and Processing unit have been suspended in general.

3. Loans and Advances include an amount of Rs. 2,62,807/- being ESI paid under protest.

4. Contingent Liabilities:

a) Claim against the Company towards listing fee for stock exchanges not acknowledged as debts, as the trading of the shares of the Company is under suspension. Since claims against the company are not available, the liabilities have not been ascertained. The company is taking necessary steps for lifting of suspension and dues to stock exchanges shall be paid in due course of time.

b) ESI has made claim against the Company amounting to Rs.9,63,627/- against which Rs.2,62,807/- is paid under protest. The matter is under sub-judice.

5. No provision has been made for impairment of Assets as the realisable value of Assets has been increased substantially.

6. The Company does not owe to any micro, small scale and medium enterprises for which disclosure is not required under Micro, Small and Medium enterprises Development Act.2006.

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Mar 31, 2010

1. The deferred tax assets has not been recognised as the Company has huge unabsorbed depreciation and carry forward losses under the Income Tax Act and there is no virtual certainty supported by convincing evidence that sufficient future taxable income will be available against which such deferred tax asset can be realised.

2. The activities of the Hatchery, Aquaculture and Processing unit have been suspended in general.

3. Loans and Advances include an amount of Rs. 2,62.807/- being ESI paid under protest.

4. Contingent Liabilities:

a) Claim against the Company towards listing fee for stock exchanges not acknowledged as debts. as the trading of the shares of the Company is under suspension. Since claims against the company are not available, the liabilities have not been ascertained. The company is taking necessary steps for lifting of suspension and dues to stock exchanges shall be paid in due course of time.

b) ESI has made claim against the Company amounting to Rs.9,63,627/- against which Rs.2,62,807/- is paid under protest. The matter is under sub-judice.

5. No provision has been made for impairment of Assets as the realisable value of Assets has been increased substantially.

7. The Company does not owe to any micro, small scale and medium enterprises for which disclosure is not required under Micro. Small and Medium enterprises Development Act,2006.

V. Generic Names of Three Principal Products/Services of Company (as per monetary terms)

6. Figures are rounded of to the nearest rupee and previous years figures have been regrouped wherever necessary to conform to current years classification.