Notes to Accounts of Vega Jewellers Ltd.

Mar 31, 2025

Provisions

General

Provisions are recognised 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 recognised 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 at a current pre-tax rate
that reflects 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.

Financial instruments

A financial instrument is any contract that gives rise to a financial asset of one entity and a financial
liability or equity instrument of another entity.

Financial assets

Initial recognition and measurement

All financial assets are recognised 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.

Subsequent measurement

For purposes of subsequent measurement, financial assets are classified in three categories:

(a) Debt instruments at amortised cost

(b) Debt instruments, derivatives, equity instruments and mutual fund investments at fair value through
profit or loss (FVTPL)

(c) Equity instruments measured at fair value through other comprehensive income (FVTOCI)

Debt instruments at amortised cost

A ‘debt instrument'' is measured at the amortised cost if both the following conditions are met:

a) The asset is held within a business model whose objective is to hold assets for collecting contractual
cash flows, and

b) Contractual terms of the asset give rise on specified dates to cash flows that are solely payments of
principal and interest (SPPI) on the principal amount outstanding.

After initial measurement, such financial assets are subsequently measured at amortised cost using
the effective interest rate (EIR) method. Amortised cost is calculated by taking into account any
discount or premium on acquisition and fees or costs that are an integral part of the EIR. The EIR

Debt instruments, derivatives, equity instruments and mutual fund investments at fair value through
profit or loss (FVTPL)

All derivatives and mutual fund investments in scope of Ind AS 109 are measured at fair value. Equity
instruments which are held for trading are classified as at FVTPL. Equity instruments included within
the FVTPL category are measured at fair value with all changes recognized in the Statement of Profit
& Loss.

Equity instruments measured at fair value through other comprehensive income (FVTOCI)

For all equity instruments other than the ones classified as at FVTPL, the Company may make an
irrevocable election to present in other comprehensive income subsequent changes in the fair value.
The Company makes such election on an instrument-by-instrument basis. The classification is made
on initial recognition and is irrevocable.

If the Company decides to classify an equity instrument as at FVTOCI, then all fair value changes on
the instrument, excluding dividends, are recognized in the OCI. There is no recycling of the amounts
from OCI to Profit &Loss, even on sale of investment. However, the Company may transfer the
cumulative gain or loss within equity

Derecognition

A financial asset (or, where applicable, a part of a financial asset or part of a group of similar financial
assets) is primarily derecognised (i.e. removed from the balance sheet) when the rights to receive
cash flows from the asset have expired.

Impairment of financial assets

"The Company measures the expected credit loss associated with its assets based on historical
trend, industry practices and the business environment in which the entity operates or any other
appropriate basis. The impairment methodology applied depends on whether there has been a
significant increase in credit risk.

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, financial guarantee contract payables, or derivative instruments.

All financial liabilities are recognised initially at fair value and, in the case of loans and borrowings and
payables, net of directly attributable transaction costs.

Subsequent measurement

The measurement of financial liabilities depends on their classification, as described below:

Financial liabilities at fair value through profit or loss

Financial liabilities at fair value through profit or loss include financial liabilities held for trading 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.

Financial liabilities designated upon initial recognition at fair value through profit or loss are
designated as such at the initial date of recognition, and only if the criteria in Ind AS 109 are satisfied.
For liabilities designated as FVTPL, fair value gains/ losses attributable to changes in own credit risk
are recognized in OCI. These gains/ loss are not subsequently transferred to P&L. However, the
Company may transfer the cumulative gain or loss within equity. All other changes in fair value of such
liability are recognised in the statement of profit or loss. The Company has not designated any
financial liability as at fair value through profit and loss.

Loans and borrowings

After initial recognition, interest-bearing loans and borrowings are subsequently measured at
amortised cost using the EIR method.

Amortised cost is calculated by taking into account any discount or premium on acquisition and fees
or costs that are an integral part of the EIR. The EIR amortisation is included as finance costs in the
statement of profit and loss.

Offsetting of financial instruments

Financial assets and financial liabilities are offset and the net amount is reported in the balance sheet
if there is a currently enforceable legal right to offset the recognised amounts and there is an intention
to settle on a net basis, to realise the assets and settle the liabilities simultaneously.

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.

Contingent Liabilities

A contingent liability is a possible obligation that arises from past events whose existence will be
confirmed by the occurrence or non-occurrence of one or more uncertain future events beyond the
control of the Company or a present obligation that is not recognized because it is not probable that
an outflow of resources will be required to settle the obligation. A contingent liability also arises in
extremely rare cases where there is a liability that cannot be recognized because it cannot be
measured reliably. The Company does not recognize a contingent liability but discloses its existence
in the financial statements.

(c) The Company has only one class of equity shares having a par value of Rs10/- per share. Each
holder of equity shares is entitled to one vote per share. The holders of Equity Shares are entitled to
receive dividends as declared from time to time. The dividend proposed by the Board of Directors is
subject to the approval of the shareholders in the ensuing Annual General Meeting. 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.

(d) The authorized share capital has been increased from Rs.50 Lakhs to Rs.10 Crore in the AGM held
on 28th September 2024

(e) Shareholders holding more than 5 % of the equity shares in the Company :

Note 27:

Capital Risk Management

The Company aims to manages its capital efficiently so as to safeguard its ability to continue as a going
concern and to optimise returns to our shareholders.

The capital structure of the Company is based on management''s judgement of the appropriate balance of
key elements in order to meet its strategic and day-to-day needs. We consider the amount of capital in
proportion to risk and manage the capital structure in light of changes in economic conditions and the risk
characteristics of the underlying assets. In order to maintain or adjust the capital structure, the Company
may adjust the amount of dividends paid to shareholders, return capital to shareholders or issue new
shares.

The Company''s policy is to maintain a stable and strong capital structure with a focus on total equity so as
to maintain investor, creditors and market confidence and to sustain future development and growth of its
business. The Company will take appropriate steps in order to maintain, or if necessary adjust, its capital
structure.

Note 28:

Financial Risk Management

Financial risk management objectives and policies

The Company''s principal financial liablities comprises of Borrowings & trade and other payables. The
main purpose of these financial liablities is to finance the company''s activities.The Company''s principal
financial assets include investment ,receivables,and cash and cash equivalents that derive directly from
its activities.

A. Market risk

Market risk comprises of three types of risk : interest rate risk, currency risk and other price risk,such
as commodity price fluctuation.Financial instruments affected by market risk include loans and
borrowings.

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 credit risk comprises of two types of risk: Customer
credit risk and Credit risk from balances with banks and financial institutions.

*The financial ratios for the year ended March 31, 2025, are not directly comparable with those of the

previous year, as the Company, during the year, added an additional business objective relating to the

trading, manufacturing, making, buying, selling, importing, exporting, and dealing in ornaments and

jewellery of all kinds, and commenced operations in the said line of business.

Additional Regulatory Information

1. The company has no Immovable Properties as on March 31,2025 whose Title Deeds are not held in
the name of the company and no immovable properties which are jointly held with others.

2. The company does not have any Investment Property as on 31st March 2025.

3. The Company has not revalued its Property, Plant and Equipment accordingly disclosure as to
whether the revaluation is based on the valuation by a registered valuer as defined under rule 2 of the
Companies (Registered Valuers and Valuation) Rules, 2017 is not applicable to the Company.

4. The Company does not have any intangible assets during the years ended 31st March 2025 and 31st
March 2024.

5. The Company does not have Capital Work In Progress (CWIP) therefore no CWIP completion
schedule shall be required to disclose.

6. The Company has no Intangible Assets under development as on 31st March 2025 and 31st March
2024.

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

8. The Company has no Borrowings from banks or finanacial institutions on the basis of security of
current assets , during the year ended 31st March 2025.

9. The Company is not declared as a wilful defaulter by any bank or financial institution or other lender.

10. The Company has no transactions with the companies struck off under 248 of Companies Act 2013 ,
or section 560 of Companies Act 1956.

11. The Company has no charges or satisfaction yet to be registered with ROC beyond the statutory
period.

12. The Company has no subsidiary. so, clause (87)of section 2 of the act read with Companies
(Restriction on number of layers )Rules , 2017 ia not applicable

13. The Company has not entered into any Arrangements in terms of section 230 to 237 of the
Companies Act, 2013.

14. (A) The Company has not 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, , including foreign
entities (Funding Party) with the understanding (whether recorded in writing or otherwise).

(B) The Company has not directly or indirectly received any funds from any person (s)or entity (ies) ,
including foreign entities (funding party) or provide any guarante ,security other like on behalf of
the ultimate Beneficiaries.

15. There is no transactions 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 relevent provisions of the Income Tax Act,1961), unless there is immunity for
disclosure under any scheme. Also, there is no such previously unrecorded income and related
assets have been properly recorded in the books of account during the year.

16. Company is not covered under the prescribed limits of Section 135 of the Companies Act .

17. The Company has not traded or invested in Crypto Currency or virtual Currency during the year
ended 31st March 2025.

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

As per our report of even date attached For and on behalf of the Board of Directors

For Sagar & Associates
Chartered Accountants

Firm ICAI Reg No : 003510S Sd/- Sd/-

Naveen Kumar Vanama Sudhakar Vanama

Sd/_- Managing Director Director

CA A Manikanta Rayudu DIN: 09243947 DIN: 09702707

Partner

M. No: 243439 Sd/- Sd/-

^{UDIN: 25243439BMIJKQ6703} B. Kiran Kumar P. Vimala

Company Secretary Chief Financial Officer

Place : Hyderabad
Date : 20-05-2025

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Mar 31, 2024

Provisions

General

Provisions are recognised 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 recognised 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 at a current pre-tax rate
that reflects 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.

Financial instruments

A financial instrument is any contract that gives rise to a financial asset of one entity and a financial
liability or equity instrument of another entity.

Financial assets

Initial recognition and measurement

All financial assets are recognised 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.

Subsequent measurement

For purposes of subsequent measurement, financial assets are classified in three categories:

(a) Debt instruments at amortised cost

(b) Debt instruments, derivatives, equity instruments and mutual fund investments at fair value
through profit or loss (FVTPL)

(c) Equity instruments measured at fair value through other comprehensive income (FVTOCI)

Debt instruments at amortised cost

A ‘debt instrument'' is measured at the amortised cost if both the following conditions are met:

a) The asset is held within a business model whose objective is to hold assets for collecting
contractual cash flows, and

b) Contractual terms of the asset give rise on specified dates to cash flows that are solely payments
of principal and interest (SPPI) on the principal amount outstanding.

After initial measurement, such financial assets are subsequently measured at amortised cost using
the effective interest rate (EIR) method. Amortised cost is calculated by taking into account any
discount or premium on acquisition and fees or costs that are an integral part of the EIR. The EIR
amortisation is included in interest income in the profit or loss.

Debt instruments, derivatives, equity instruments and mutual fund investments at fair value through
profit or loss (FVTPL)

All derivatives and mutual fund investments in scope of Ind AS 109 are measured at fair value. Equity
instruments which are held for trading are classified as at FVTPL. Equity instruments included within
the FVTPL category are measured at fair value with all changes recognized in the Statement of Profit
& Loss.

Equity instruments measured at fair value through other comprehensive income (FVTOCI)

For all equity instruments other than the ones classified as at FVTPL, the Company may make an
irrevocable election to present in other comprehensive income subsequent changes in the fair value.
The Company makes such election on an instrument-by-instrument basis. The classification is made
on initial recognition and is irrevocable.

If the Company decides to classify an equity instrument as at FVTOCI, then all fair value changes on
the instrument, excluding dividends, are recognized in the OCI. There is no recycling of the amounts
from OCI to Profit &Loss, even on sale of investment. However, the Company may transfer the
cumulative gain or loss within equity

Derecognition

A financial asset (or, where applicable, a part of a financial asset or part of a group of similar financial
assets) is primarily derecognised (i.e. removed from the balance sheet) when the rights to receive
cash flows from the asset have expired.

Impairment of financial assets

"The Company measures the expected credit loss associated with its assets based on historical
trend, industry practices and the business environment in which the entity operates or any other
appropriate basis. The impairment methodology applied depends on whether there has been a
significant increase in credit risk. "

Initial recognition and measurement

Financial liabilities are classified, at initial recognition, as financial liabilities at fair value through profit
or loss, loans and borrowings, financial guarantee contract payables, or derivative instruments.

All financial liabilities are recognised initially at fair value and, in the case of loans and borrowings and
payables, net of directly attributable transaction costs.

Subsequent measurement

The measurement of financial liabilities depends on their classification, as described below:
Financial liabilities at fair value through profit or loss

Financial liabilities at fair value through profit or loss include financial liabilities held for trading 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 liabilities held for trading are recognised in the statement of profit or loss.

Financial liabilities designated upon initial recognition at fair value through profit or loss are
designated as such at the initial date of recognition, and only if the criteria in Ind AS 109 are satisfied.
For liabilities designated as FVTPL, fair value gains/ losses attributable to changes in own credit risk
are recognized in OCI. These gains/ loss are not subsequently transferred to P&L. However, the
Company may transfer the cumulative gain or loss within equity. All other changes in fair value of
such liability are recognised in the statement of profit or loss. The Company has not designated any
financial liability as at fair value through profit and loss.

Loans and borrowings

This is the category most relevant to the Company. After initial recognition, interest-bearing loans
and borrowings are subsequently measured at amortised cost using the EIR method.

Amortised cost is calculated by taking into account any discount or premium on acquisition and fees
or costs that are an integral part of the EIR. The EIR amortisation is included as finance costs in the
statement of profit and loss.

Offsetting of financial instruments

Financial assets and financial liabilities are offset and the net amount is reported in the balance sheet
if there is a currently enforceable legal right to offset the recognised amounts and there is an intention
to settle on a net basis, to realise the assets and settle the liabilities simultaneously.

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.

A contingent liability is a possible obligation that arises from past events whose existence will be
confirmed by the occurrence or non-occurrence of one or more uncertain future events beyond the
control of the Company or a present obligation that is not recognized because it is not probable that
an outflow of resources will be required to settle the obligation. A contingent liability also arises in
extremely rare cases where there is a liability that cannot be recognized because it cannot be
measured reliably. The Company does not recognize a contingent liability but discloses its existence
in the financial statements.

Notes :

a) There has been no change/movements in number of shares outstanding at the beginning and at
the end of the reporting period.

b) Terms/ rights attached to Equity Shares

The Company has only one class of Equity Shares having a par value of '' 10/- per share. Each
holder of Equity shares is entitled to one vote per share and equal right for dividend. The
dividend proposed by the Board of Directors is subject to the approval of Shareholders in the
ensuing Annual General Meeting, except in case of Interim dividend. In the event of Liquidation,
the equity shareholders are eligible to receive the remaining assets of the company after
payment of all preferential amounts, in proportion of their shareholding.

Nature & Purpose

Retained Earnings represents accumulated surplus/(deficit).The positive balance of the Retained
earning are available for the distribution to its owners.

FVTOCI Reserve

Nature & Purpose

The Company has elected to recognise changes in the fair value of certain investments in equity
instruments through other comprehensive income. These changes are accumulated within the
FVOCI reserve. The Company transfers amounts from this reserve to retained earnings when the
relevant equity securities are derecognised.

19 CAPITAL RISK MANAGEMENT

The Company aims to manages its capital efficiently so as to safeguard its ability to continue as
a going concern and to optimise returns to our shareholders.

The capital structure of the Company is based on management''s judgement of the appropriate
balance of key elements in order to meet its strategic and day-to-day needs. We consider the
amount of capital in proportion to risk and manage the capital structure in light of changes in
economic conditions and the risk characteristics of the underlying assets. In order to maintain or
adjust the capital structure, the Company may adjust the amount of dividends paid to
shareholders, return capital to shareholders or issue new shares.

The Company''s policy is to maintain a stable and strong capital structure with a focus on total
equity so as to maintain investor, creditors and market confidence and to sustain future
development and growth of its business. The Company will take appropriate steps in order to
maintain, or if necessary adjust, its capital structure.

20 FINANCIAL RISK MANAGEMENT

Financial risk management objectives and policies

The Company''s principal financial liablities comprises of Borrowings & trade and other
payables. The main purpose of these financial liablities is to finance the company''s
activities.The Company''s principal financial assets include investment ,receivables,and cash
and cash equivalents that derive directly from its activities.

A Market risk

Market risk comprises of three types of risk : interest rate risk, currency risk and other price
risk,such as commodity price fluctuation.Financial instruments affected by market risk include
loans and borrowings.

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 credit risk comprises of two types of risk:
Customer credit risk and Credit risk from balances with banks and financial institutions.

B Fair Value Hierarchy

The fair value of the financial assets and financial liabilities are included at the amount at which
the instrument could be exchanged in a current transaction between willing parties, other than in
a forced or liquidation sale.

The following table provides the fair value measurement hierarchy of the Company''s assets and
liabilities. The financial instruments are catagorized into three levels based on the inputs used to
arrive at fair value measurements as described below:

Dose not arise
Actuarial Assumptions

The principal financial assumptions used for valuation as at the Valuation Date are shown below.
The assumptions as at the Valuation Date are used to determine the Present Value of Defined
Benefit Obligation at that date"

Additional Regulatory Information

1 The company has no such Immovable Properties as on March 31,2024 whose Title Deeds are
not held in the name of the company and no such immovable properties which are jointly held
with others.

2 The company does not have any Investment Property as on 31st March 2024.

3 The Company has not revalued its Property, Plant and Equipment accordingly disclosure as to
whether the revaluation is based on the valuation by a registered valuer as defined under rule 2
of the Companies (Registered Valuers and Valuation) Rules, 2017 is not applicable to the
Company.

4 The Company does not have any intangible assets during the years ended 31st March 2024 and
31st March 2023.

5 The Company does not have Capital Work In Progress (CWIP) therefore no CWIP completion
schedule shall be required to disclose.

6 The Company has no such Intangible Assets under development as on 31st March 2024 and
31st March 2023.

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

8 The Company has no such Borrowings from banks or finanacial institutions on the basis of
security of current assets , during the year ended 31-03-2024.

9 The Company is not a declared wilful defaulter by any bank or financial institution or other
lender.

10 The Company has no such transactions with the companies struck off under 248 of Companies
Act 2013 , or section 560 of Companies Act 1956.

11 The Company has no such charges or satisfaction yet to be registered with ROC beyond the
statutory period.

12 The Company has no subsidiary. so, clause (87)of section 2 of the act read with Companies
(Restriction on number of layers )Rules , 2017 ia not applicable

13 The ratios provided with respect to the Financial year 31.03.2024 has been provided in Note
29.

14 The Company has not entered into any Arrangements in terms of section 230 to 237 of the
Companies Act, 2013.

15 (A) The Company has not 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, , including
foreign entities (Funding Party) with the understanding (whether recorded in writing or
otherwise).

(B) The Company has not directly or indirectly received any funds from any person (s)or entity
(ies) , including foreign entities (funding party) or provide any guarante ,security other like on
behalf of the ultimate Beneficiaries.

16 There is no such transactions 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 relevent provisions of the Income Tax Act,1961),
unless there is immunity for disclosure under any scheme. Also, there is no such previously
unrecorded income and related assets have been properly recorded in the books of account
during the year.

17 Company is not covered under section 135 of the Companies Act .

18 The Company has not traded or invested in Crypto Currency or virtual Currency during the year
ended 31st March 2024.

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Mar 31, 2014

1. (a) Previous year''s figures have been ed / recasted wherever necessary.

(b) The above cash flow has been pre der "Indirect Method" as prescribed under Accounting Standard 3 notified in Companies (accounting Standards) Rules, 2006

( c) Cash & Cash Equivalents as of March 31, 2014 and March 31, 2013 include restricted Cash & Bank balances.The restrictions are primarily on account of Bank balances held as margin money against letter of credit.

d) There has been no change/movements in number of shares outstanding at the beginning and at the end of the reporting period.

e) Terms / rights attached to Equity Shares The Company has only one class of Equity Shares having a par value of Rs. 10/- per share. Each holder of Equity shares is entitled to one vote per share and equal right for dividend. The dividend proposed by the board of Directors is subject to the approval of Shareholders in the ensuing Annual General Meeting, except in case of Interim dividend. In the event of Liquidation, the equity shareholders are eligible to receive the remaining assets of the company after payment of all preferential amounts, in proportion of their shareholding.

f) The company does not have any Holding Company, .ultimate Holding Company or Subsidiary Company.

Security Clause:

Primary Security- Hypothecation of stock of goods situated at present and future premises of the company and other movables including book debts, bills and receivables, both present and future.

Collateral Security- Exclusive hypothecation of office space at 113, Park Street, Unit No. 4 on 10th Floor, "Poddar Point". Kolkata 700 016.

Exclusive hypothecation of Residential Flat No. 3E, 3rd Floor, Block ''A'' at 238, N S C Bose Road, Kolkata 700 040 having super built up area of 984 sq. ft.

Exclusive hypothecation of office space No. 402-B, on 4th Floor situated at Plot No. D-7, Bearing City Sutvey No. 634 of Oishwara held in the name of Welcome Suppliers Pvt. Ltd.

Personnel Guarantee- The loan has been guaranteed by the personal guarntee of four directors of the company and a body corporate.

2. Contingent Liabilities not provided for in respect of:

Claims against the company pending in court not acknowledged as debts, amount unascertainable.

Letter of Credit-Rs.40,446,516/-

3. Fixed Deposit of Rs. 5,476,616/- for the financial year 2013-14 is against letter of Credit & Fixed Deposit of (Rs. 1,436,303/-) for the Financial year 2012-13 is against Letter of Credit.

4. The company has deposited F.D.R. of Rs. 5,000/- with the commissioner of sales tax as security for the issue of blank ''C'' forms.

5. Defined Benefit Plan

The present value of obligation is determined based on acturiai valuation using the Projected Unit Credit Method, which recognises each period service as giving rise to additional unit of employee benefit entitlement and measures each unit separately to build up the final obligation.

6. As the Company is engaged in Trading Business only, disclosures as requiredbyAS-17(SegmentReportingare not applicable).

7. There is no amount outstanding towards Investor Education & Protection Fund as on 31.03.2014.

8. No Provision has been considered necessary for diminution in value of Long Term Investment being temporary in nature.

9. Disciosure of Sundry Creditors undercurrent Liabilities is based on the information available with the company regarding the status of the suppliers as defined under the "Micro, Small and Medium Enterprises on account of pricipal amount together with interest, aggregate to Rs. NIL (Previous Year Rs. NIL)

a) There is no outstanding amount written off on the above during the year.

b) Guarantee taken against Bank loan from four directors and from associate company (Welcome Suppliers Pvt. Ltd.)

c) Security (Office space) taken from an Associate Company (Welcome Suppliers Pvt. Ltd.)

d) The company has granted unsecured loan to one of the company where two directors of the company are interested.However, the company has charged interest more than rate prescribed as bank rate by RBI. The refund of the said loan is beng made.

10. The company has a deposit in NSC which was purchased in the name of Madhuri Devi Himatsingka being sole Propri- etress of M/s. K. Kumar and Co. during the Financial Year 2011-2012 for obtaining Sugar License and placed in favour of Rationing Officer, Park Street, Kolkata - 700 016. Consequently M/s. K. Kumar & Co. was taken over by the company w.e.f. 1 st day of April, 2012 and all the assets of M/s. K. Kumar & Co. becomes assets of the company vide agree- ment dated 01.04.2012.

As the asset acquired is in the nature of deposit in NSC, the ownership of the asset is not transferable in the name of the company. Accrued interest on such NSC has not been accounted for during the financial year ended 31.03.2014.

11. Debit and credit Balances of Debtors, Creditors and Loans and Advances appearing in the Balance Sheet are subject to confirmation and reconciliation, if any, from the concerned parties.

12. Deffered tax assets of Rs. 45,370/- (Rs. 67,690/-) on account of timing difference such as depreciation and gratuity etc.

13. The previous year figures have been regrouped and rearranged wherever necessary.

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Mar 31, 2011

1. Contingent Liabilities not provided for in respect of :

Claims against the company pending in court not acknowledged as debts, amount unascertainable.

2. Other Advances includes Rs. 101,000/- against which the Company has filed a suit for recovery.

3. Fixed Deposit Rs. 1,400,000/- (Rs. 1,000,000/-) pledged with Oriental Bank of Commerce Park Street Branch against Bank Guarantee of Rs. 50 Lacs (Rs. 100 Lakhs) and Rs. 5,000/- (Rs. 5,000/-) with the Commissioner of Sales Tax as security for the issue for blank C Forms and Form 14.

4. Defined Benefit Plan

The present value of obligation is determined based on actuarial valuation using the Projected Unit Credit Method, which recognises each period service as giving rise to additional unit of employee benefit entitlement and measures each unit separately to build up the final obligation.

5. Gratuity:

I. Expenses recognised during the year under the head "Salary and Allowances"

6. As the Company is engaged in Trading Business only, disclosures as required by Accounting Stan- dard -17 (Segment Reporting) are not applicable.

7. There is no amount outstanding towards Investor Education & Protection Fund as on 31.03.2011.

8. Previous Year figures have been regrouped wherever necessary.

9. No Provision has been considered necessary for diminution in value of Long Term Investment being temporary in nature.

10. Disclosure of Sunday Creditors under Current Liabilities is based on the information available with the company regarding the status of the suppliers as defined under the "Micro, small and medium Enterprises on account of principal amount together with interest, aggregate to Rs. NIL (Previous Year Rs. NIL)

11. A) Name of the related party Relationship

(a) Abhishek Chemicals Pvt. Ltd. Associate Company

Davesh Developers Pvt. Ltd. Associate Company

P. C. Properties Pvt. Ltd. Associate Company

Swan Silver Wares Pvt. Ltd. Associate Company

Variable Plaza Pvt. Ltd. Associate Company

AH Chemicals Pvt. Ltd. Associate Company

Welcome Suppliers Pvt. Ltd. Associate Company

Himatsingka Chemicals Pvt. Ltd. Associate Company

Jamuna Commodities (p) Ltd. Associate Company

Amjay Chem. Trade Pvt. Ltd. Associate Company

(b) Prakash Himatsingka Key Managerial Personnel

Ajit Kr Bhuwalka Key Managerial Personnel

Ashok Kr. Jhanwar Key Managerial Personnel

Abhishek Himatsingka Key Managerial Personnel

Prakash Chandra Vikram Kumar (HUF) Enterprise over which KMP having influence

Binayak Prasad Prakash Chandra (HUF) Enterprise over which KMP having influence

Amjay Chemicals Enterprise over which KMP having influence K. Kumar & Co. Enterprise over which KMP having influence

Sumit Kuamr Jhanwar Relative of Director

Note : Related Party Relationship is as identified by the Company and relied by Auditors.

C) There is no outstanding amount written off on the above during the year.

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Mar 31, 2010

1. Contingent Liabilities not provided for in respect of :

Claims against the conpany pending in court not acknowledged as debts, amount unascertainable.

2. The Company has changed the rate of depreciation from rates prescribed under the Income Tax, 1961 to rates prescribed under Sec. XIV of the Companies Act, 1956 retrospectively in the year 2008 - 09. Due to this change the figures of net Fixed Assets and Reserves and Surplus as at 31.03.09 has increased by Rs. 38745. Had the Company continued charging depreciation as per IT depreciation would be higher by Rs. 7461/- consequently profit for the year would be lower by Rs. 7461/-.

3. Other Advances includes Rs. 101,000/- against which the Company has filed a suit for recovery.

4. Fixed Deposit Rs. 1,000,000/- (Rs. 1,750,000/-) pledged with Oriental Bank of Commerce Park Street Branch against Bank Guarantee of Rs. 100 Lacs (Rs. 175 Lakhs) and Rs. 5,000/- (Rs. 5,000/-) with the Commissioner of Sales Tax as security for the issue for blank C Forms and Form 14.

5. Defined Benefit Plan

The present value of obligation is determined based on acturial valuation using the Projected Unit Credit Method, which recognises each period service as giving rise to additional unit of employee benefit entitlement and measures each unit separately to build up the final obligation.

6. Gratuity:

I. Expenses recognised during the year under the head "Salary and Allowances"

7. As the Company is engaged in Trading Business only, disclosures as required by Accounting Stan- dard -17 (Segement Reporting) are not applicable.

8. There is no amount outstanding towards Investor Education & Protection Fund as on 31.03.2010.

9. Previous Year figures have been regrouped wherever necessary.

10. No Provision has been considered necessary for diminution in value of Long Term Investment being temporary in nature.

11. Disclosure of Sunday Creditors under Current Liabilities is based on the information available with the company regarding the status of the suppliers as defined under the "Micro, smalt and medium Enterprises on account of pricipal amount together with interest, aggregate to Rs. NIL (Previous Year Rs. NIL)

12. A) Name of the related party Relationship

(a) Abhishek Chemicals Pvt. Ltd. Associate Company

Davesh Developers Pvt. Ltd. Associate Company

P. C. Properties Pvt. Ltd. Associate Company

Swan Silver Wares Pvt. Ltd. Associate Company

Variable Plaza Pvt. Ltd. Associate Company

AH Chemicals Pvt. Ltd. Associate Company

Welcome Suppliers Pvt. Ltd. Associate Company

Himatsingka Chemicals Pvt. Ltd. Associate Company

Amjay Chem. Trade Pvt. Ltd. Associate Company

(b) Prakash Himatsingka Key Managerial Personnel

Ajit Kr Bhuwalka Key Managerial Personnel

Ashok Kr. Jhanwar Key Managerial Personnel

Amjey Chemicals Key Managerial Personnel

Abhishek Himatsingka Key Managerial Personnel

Prakash Chandra Vikram Kumar (HUF) Enterprise over which KMP having influence

Binayak Prasad Prakash Chandra (HUF) Enterprise over which KMP having influence

K. Kumar & Co. Enterprise over which KMP having influence

Nirmal Himatsingka Rice & Saw Mills Enterprise over which KMP having influence

Sumit Kumar Jhanwar Relative of Director

Note : Related Party Relationship is as identified by the Company and relied by Auditors.

C) There is no outstanding amount written off on the above during the year.

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Mar 31, 2009

1. Contingent Liabilities not provided for in respect of:

Claims against the conpany pending in court not acknowledged as debts, amount unascertainable.

2. The Company has changed the rate of depreciation from rates prescribed under the Income Tax Act, 1961 to rates prescribed under Sec. XIV of the Companies Act, 1956 retrospectively. Due to this change the figures of net Fixed Assets and reserves and Surplus as at 31.03.09 has increased by Rs. 38,745. Had the Company continued charging depreciation as per IT depreciation would be higher by Rs. 7,461/- consequently profit for the year would be lower by Rs. 7,461/-.

3. Other Advances includes Rs. 101,000/- against which the Company has filed a suit for recovery.

4. Fixed Deposit Rs. 1,750,000/- (Rs. 1,968,370/-) pledged with Oriental Bank of Commerce Park Street Branch against Bank Guarantee of Rs. 175 Lacs (Rs. 200 Lakhs) and Rs. 5,000/- (Rs. 5,000/-) with the Commissioner of Sales Tax as security for the issue for blank C"Froms and Form 14.

5. Motor Car includes Rs. 762,953/- (Rs. 762,953/-) under Hire Purchase Scheme. Future Interest Pay- able on car purchased under said scheme amounting to Rs. 4,781/- (Rs. 27,173/-)

6. Defined Benefit Plan

The present value of obligation is determined based on acturial valuation using the Projected Unit Credit Method, which recognises each period service as giving rise to additional unit of employee benefit entitlement and measures each unit separately to build up the final obligation.

7. As the Company is engaged in Trading Business only, disclosures as required by Accounting Stan- dard -17 (Segement Reporting) are not applicable.

8. There is no amount outstanding & payable to Investor Education & Protection Fund as on 31.03.2009.

9. Previous Year figures have been regrouped wherever necessary.

10. No Provision have been considered necessary for diminution in value of Long Term Investment being temporary in nature.

11. Disclosure of Sundry Creditors under Current Liabilities is based on the information available with the company regarding the status of the suppliers as defined under the "Micro, small and medium Enterprises on account of pricipal amount together with interest, aggregate to Rs. NIL (Previous Year Rs. NIL)

12. A) Name of the related party Relationship

(a) Abhishek Chemicals Pvt. Ltd. Associate Company

Davesh Developers Pvt. Ltd. Associate Company

P. C. Properties Pvt. Ltd. Associate Company

Swan Silver Wares Pvt. Ltd. Associate Company

Variable Plaza Pvt. Ltd. Associate Company

AH Chemicals Pvt. Ltd. Associate Company

Welcome Suppliers Pvt. Ltd. Associate Company

Himatsingka Chemicals Pvt. Ltd. Associate Company

(b) Prakash Himatsingka Key Managerial Personnel

Ajit Kr Bhuwalka Key Managerial Personnel

Ashok Kr. Jhanwar Key Managerial Personnel

Abhishek Himatsingka Key Managerial Personnel

Prakash Chandra Vikra rn Kumar (HUF). Enterprise over which KMP having influence

Binayak Prasad Prakash Chandra (HUF) Enterprise over which KMP having influence

K. Kumar & Co. Enterprise over which KMP having influence

Nirmal Himatsingka Rice & Saw Mills Enterprise over which KMP having influence

Sumit Kumar Jhanwar Relative of Director

Note : Related Party Relationship is as identified by the Company and relied by Auditors.

C) There is no outstanding amount written off on the above during the year.

13. Additional Information pursuant to the provisions of Paragraph 3 & 4 of part-ll of Schedule VI of the Companies Act, 1956.