Notes to Accounts of Siddheswari Garments Ltd.

Mar 31, 2024

(b) Provisions and Contingencies :

The Company recognizes provisions when a present obligation (legal or constructive) as a result of a past
event exists and it is probable that an outflow of resources embodying economic benefits will be required to
settle such obligation and the amount of such obligation can be reliably estimated.

If the effect of 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.

A disclosure for a contingent liability is made when there is a possible obligation or a present obligation that
may, but probably will not require an outflow of resources embodying economic benefits or the amount of such
obligation cannot be measured reliably. When there is a possible obligation or a present obligation in respect of
which likelihood of outflow of resources embodying economic benefits is remote, no provision or disclosure is
made.

(A) Financial risk management objectives and policies

The Company’s activities expose it to market risk, liquidity risk and credit risk. The Company’s Board of
Directors has overall responcibility for the establishment and oversight of the Company,s risk
management framwork. This note explains the risk which the entity is exposed to and how the entity
manages the risk and the related impact in the financial statements.

(B) Credit risk

Credit risk is the risk that one party to a financial instrument will cause a financial loss for the other party
by failing to discharge an obligation.

The company generally does not have trade receivables Hence, the management believes that the
company is not exposed to any credit risk.

(C) Liquidity risk

Liquidity risk is the risk that an entity will encounter difficulty in meeting obligations associated with
financial liabilities that are settled by delivering cash or another financial assets.

The company is not exposed to liquidity risk as there is minimal amount of trade and other payables.
The company measures risk by forecasting cash flows.

The Company’s approach to managing liquidity is to ensure, as far as possible, that it will always have
sufficient liquidity to meet its liabilities when due without incurring unacceptable losses or risking damage
to the Company,s reputation. The company ensures that it has sufficient fund to meet expected operational
expenses, servicing of financial obligations.

Foreign currency risk

The Company has no international transactions and is not exposed to foreign exchange risk.

Interest rate risk

(i) Liabilities : The Company has no fixed rate borrowings, since neither the carrying amount nor the
future cash flows will fluctuate because of a change in market interest rates. The Company has no
variable rate borrowings.

(ii) Assets : The company has no fixed deposits. Therefore, not subject to interest rate risk as defined
in Ind AS 107, since neither the carrying amount nor the future cash flows will fluctuate because of a
change in market interest rates.

(G) Price risk

Price risk is the risk that the fair value or future cash flows of a financial instrument will fluctuate
because of changes in market prices. The Company is not exposed to price risk.

2. Capital Management

For the purpose of the Company’s capital management, capital includes issued equity capital and all
other equity reserves attributable to the Equity Share-holders of the Company''s objective when managing
capital is to safeguard its ability to continue as a going concern so that it can contibue to provide returns
to shareholders and other stake holders.

* The differance in ratio arise due to increase in current assets.

** The differance in ratio''s due to increase in the profitability of The Company because of decrese in Other
exceptional Expenses.

As per our Report of even date ^{For and on behalf of the Board}

Place : Kolkata For R K BAJAJ & CO

_{D t d 30 05 2024} SANJAY KR. SHAH UMA NATH SINGH _Ch_artQreW S

^{Dated : 30-05-2024} DIRECTOR DIRECTOR Chart^ered Accountants

DIN : 00109444 DIN : 00301884 ^FI^{RM Regn}. N^o. : ³¹⁴¹⁴0E

(R K BAJAJ )

Proprietor

---

Mar 31, 2014

1. [a] Dues to Small Scale Industrial undertaking as on the Balance Sheet date in Nil, based on informations received by management.

[b] As per the information available with the company, there are no amounts payable or paid during the year, which are required to be disclosed as per section 22 of the Micro, small and Medium Enterprise Act, 2006.

2. No provision for shortfall in Market Value of Investments amounting to Rs. 17,2441- (Previous Year Rs. 17,099/-) has been made in the accounts.

3. RELATED PARTY DISCLOSURES (As Identified bv the management)

A. Name of Related Party and Description of Relationship

I. Key Managerial Person : Mr. Sanjay Shah Director : Mr. Abhishek Poddar Director

: Mr. Umanath Singh Director

II. Enterprise owned or significantly influenced

by key managerial personnel : Ganges Jute Pvt Ltd.

: B R Poddar Marketing Pvt Ltd

: KL Poddar Marketing Pvt Ltd : Madal Sati Traders Pvt Ltd

---

Mar 31, 2013

1. Foreign Currency outgo that date in Nil, based on information''s

2. The Due. to Small Scale Industrial undertaking as on (he Balance Sheet. date in received by the management item its movable or paid during the Wet of the Micro, small and Medium Enterprise

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Mar 31, 2012

1. No provision for shortfall in market value of investments amounting to Rs, 15,939/- (Previous Year Rs, 10,769/-) has been made in the accounts.

2. In view of the revision to the schedule VI AS PER NOTIFICATION ISSUED BY THE CENTRAL government the financial statements for the year ended 31st March 2012 have been prepared as per the requirement of the Revised schedules VI to the companies Act, 1956 Figures of the previous year have been regrouped/reclassified wherever necessary to confirm to the current year''s presentation.

---

Mar 31, 2011

1) Estimated amount of contracts remaining to be executed for capital expenditure and not provided for: NIL (Previous year Rs. NIL) 2) No Provision has been made in the accounts for gratuity liability as none of the employee has completed the continuous period of 5 years as stimulated under the payment of Gratuity Act 1972.

2) In terms of Accounting Standard 18 pertaining to "Related Party Disclosures" issued by ICAI.

NOTES:

Business Segment : The Internal Business segmentation and the activities encompassed therein are as follows :

Trading : Trading in Cloth, Shares & Securities.

Finance : Loan and Investment

3. No. Deprecation has been provided for on Plant & Machinery during the year under audit as Plant & Machinery are lying idle in the Company.

4. The basic / diluted Earning per share of the Company is Net Profit / No. of Shares i.e., Rs.4,11,101,65/=33,09,900 = (Previous year Rs83,550,18/33,09,900) = Rs. 0.3 as defined in accounting standard 20 issued by ICAI.

5. No Provision for short fall in Market value of Investments amounting to Rs.10,769 (Previous year Rs.5,434/-) has been made in the books of Accounts.

6. Previous year figures have been regrouped and / or rearranged, wherever necessary, for comparison purposes.

---

Mar 31, 2010

1) Estimated amount of contracts remaining to be executed for capital expenditure and not provided for: NIL (Previous year Rs. NIL)

2) No Provision has been made in the accounts for gratuity liability as none of the employee has completed the continuous period of 5 years as stituplated under the payment of Gratuity Act 1972.

3) In terms of Accounting Standard 18 pertaining to "Related Party Disclosures" issued by ICAI.

NOTES:

Business Segment : The Internal Business segmentation and the activities encompassed therein are as follows :

Trading : Trading in Cloth, Shares & Securities.

Finance : Loan and Investment

4. No. Deprecition has been provided for on Plant & Machinery during the year under audit as Plant & Machinery are lying idle in the Company.

5. The basic / diluted Earning per share of the Company is Net Profit / No. of Shares i.e., Rs. 83,550.18/ 33,09,900 = Rs. 0.03 (Previous year Rs 4,96,830.87 / 33,09,900 = Rs. 0.15 as defined in accounting standard 20 issued by ICAI.

6. No Provision for short fall in Market value of Investments amounting to Rs. 5434/- (Previous year Rs. 11,619/-) has been made in the books of Accounts.

7. Deferred Tax As at As At

31.03.2010 31.03.2009

a) Deferred Tax liability on account of Differences between the net book value of depreciable capital assets as per books vis-a-vis written down value as per Income Tax 562,463.00 564,323.00

b) In accordance with the requirements of Accounting Standard for taxes on income (AS 22) issued by ICAI, the deferred tax assets for financial year a sum of Rs. 1,860.00/- (Previous Year 1,966.00/-) has been credited to Profit & Loss Account.

8. Previous year figures have been regrouped and / or rearranged, wherever necessary, for comparison purposes.

---

Mar 31, 2009

1) Estimated amount of contracts remaining to be executed for capital expenditure and not provided for: NIL (Previous year Rs. NIL)

2) No Provision has been made in the accounts for gratuity liability as none of the employee has completed the continuous period of 5 years as stituplated under the payment of Gratuity Act, 1972.

NOTES:

Business Segment : The Internal Business segmentation and the activities encompassed therein are as follows :

Trading : Trading in Cloth, Shares & Securities.

Finance : Loan and Investment

3. No. Deprecition has been provided for on Plant & Machinery during the year under audit as Plant & Machinery are lying idle in the Company.

4. The basic / diluted Earning per share of the Company is Net Profit / No. of Shares i.e., Rs. 4,96,830.87/ 33,09,900 = Rs. 0.15 (Previous year Rs 8,56,630.50 / 33,09,900 = Rs. 0.26 as defined in accounting standard 20 issued by ICAI.

5. No Provision for short fall in Market value of Investments amounting to Rs. 11,619/- (Previous year Rs. 16,724/-) has been made in the books of Accounts.

6. Previous year figures have been regrouped and / or rearranged, wherever necessary, for comparison purposes.

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Mar 31, 2008

1) Estimated amount of contracts remaining to be executed for capital expenditure and not provided for. NIL (Previous year Rs. NIL)

2) No Provision has been made in the accounts for gratuity liability as none of the employee has completed the continuous period of 5 years as stituplated under the payment of Gratuity Act, 1972.

3) No. Deprecition has been provided for on Plant & Machinery during the year under audit as Plant & Machinery are lying idle in the Company.

4) The basic / diluted Earning per share of the Company is Net Profit / No. of Shares i.e., Rs. 8,56,630.50/ 33,09,900 = Rs. 0.26 (Previous year Rs 13,80,402.97 / 33,09,900 = Rs. 0.42 as defined in accounting standard 20 issued by ICAI.

5) No Provision for short fall in Market value of Investments amounting to Rs. 16,724/- has been made in the books of Accounts.

6) Previous year figures have been regrouped and / or rearranged, wherever necessary, for comparison purposes.

---

Mar 31, 2007

1. Estimated amount of contracts remaining to be executed for capital expenditure and not provided.for: NIL (Previous Year- NIL)

2. No provision has been made in the accounts for gratuity liability as none of the employee has completed the continuous period of 5 years as stipulated under the payment of Gratuity Act, 1972.

3. The Company has disposed off of substantial part of fixed asset during the year in term of Board Resolution date 11.10.2003

4. No Depreciation has been provided for on Plant & Machinery during the year under audit as plant & Machinery are lying idle in the Company.

5. The basic/diluted Earning per share of the Company is Net profit / No. of Shares i.e Rs. 13,80,402.97 / 33,09,900 = Rs. 0.42 (Previous Rs. 2,32,112 / 33,09,900 = Rs. 0.07) as defined in accounting standard 20 issued by ICAI.

6. Previous year figures have been regrouped and /or rearranged, wherever necessary, for comparison purposes.

7. The Company has disposed off of substantial part of fixed asset during the year in term of Board Resolution date 11.10.2003

8. No Depreciation has been provided for on Plant & Machinery during the year under audit as plant & Machinery are lying idle in the Company.

9. The basic/diluted Earning per share of the Company is Net profit / No. of Shares i.e Rs. 13,80,402.97 / 33,09,900 = Rs. 0.42 (Previous Rs. 2,32,112 / 33,09,900 = Rs. 0.07) as defined in accounting standard 20 issued by ICAI.

10. Previous year figures have been regrouped and rearranged, wherever necessary, for comparison purposes.

---

Mar 31, 2006

ANNUAL REPORT 2005-2006

NOTES ON ACCOUNTS

SIGNIFICANT ACCOUNTING POLICIES

1. Basis of Accounting

The Company prepares its financial statements on accrual basis in accordance with the generally accepted accounting principles. However insurance claims are being accounted for as and when receive.

2. Investments

Investments are valued at their cost of acquisition.

3. Fixed Assets

Fixed Assets are stated at cost of acquisition inclusive of duties, taxes, incidental expenses, erection/commissioning expenses etc.

4. Depreciation

a) Depreciation on Fixed Assets is provided on straight line method at the rates specified in Schedule XIV of the Companies Act. 1956 (as amended).

b) Depreciation on Fixed Assets added/disposed off during the year is provided on prorata basis.

5. Inventories

a) Inventories of raw materials stores and spares are valued at our under cost.

b) Finished Goods Stock are valued at lower of standard cost or estimated realisable value.

c) Scraps are valued at estimated realizable value.

6. Miscellaneous Expenditure

The Preliminary and Share Issue expenses is being written off equally over a period of 10 years.

7. Retirement Benefits

The liability for Gratuity has not been provided since none of the employees has completed the continuous period of 5 years as stipulated under the payment of Gratuity Act, 1972.

8. Provision for Taxation

Provision for current income tax is made on the basis of the assessable income under the applicable Income Tax Act. The deferred income tax on account of timing differences between taxable income and accounting income for the year is accounted for by applying the tax rates and laws, enacted and substantially enacted as of the balance sheet date. Deferred tax assets are recognised and carried forwards to the extent that there is a reasonable certainty that sufficient future taxable income will be available against which such deferred tax assets can be realised.

9. Information required by part IV to Schedule to the Companies Act, 1956 is enclosed as an Annexure.

NOTES ON ACCOUNTS

1. Estimated amount of contracts remaining to be executed for capital expenditure and not provided for: NIL (Previous Year- NIL).

2. No provision has been made in the accounts for gratuity liability as none of the employee has completed the continuous period of 5 years as stipulated under the payment of Gratuity Act, 1972.

3. In terms of Accounting Standard 18 pertaining to 'Related Party Disclosures' issued by ICAI, related party transactions are as follows

Related Party Relationship Transactions (Interest free loan given)

31.03.2006 31.03.2005

i) Abhishek Poddar Director 50,000.00 --

ii) Abhishek Podder (H.U.F.) Director 200,000.00 --

iii) B.R. Podder Company Marketing Pvt. Ltd. under 1,550,000.00 -- same Management

iv) Sourav Poddar Director's Relative 60,000.00 --

v) Sushil Kumar Director's Podder (H.U.F.) Relative 300,000.00 --

4. Segment report for the year ended 31.03.2006

By Business Segment Trading Finance Total

Sales Revenue 3,061,090.00 2,623,676,67 5,684,766.67 (8824380.00) (3051143.30) (11,875,523.30)

Unallocated Revenue -- -- -- (--) (--) (7956.00)

Total Segment Revenue 3,061,090.00 2,623,676.67 5,684,766.67 (8824380.00) (3051143.30) (11,883,479.30)

Expenses 5,100,242.00 525.00 5,100,767.00 (10670971.00) (944.33) (10671915.33)

Segment Result (-) 2039152.00 2,623,151.67 583,999.67 (1846 391.00) (3050198.97) (1211563.97)

Less :

Unallocable Expenses 222,132.66 (1081612.90)

Less : Interest 37,980.00 (37980.00)

Profit before Taxation 323,887.01 (91971.07)

Provision for Taxation 88,715.00 (530980.00)

Provision for FBT 3,060.00 Profit after Taxation 232,112.01 (622951.07)

Segment Assets 3,587,163.12 39,457,737.16 43,044,900.28 (4265786.12) (37361774.04) (41,627,560.16)

Unallocable Assets 874,931.94 (1932502.05)

Total Assets 43,919,832.22 (43,560,062.21)

Segment Liabilities 1,695,567.00 -- 1,695,567.00 (16,59684.00) -- (1659684.00)

Unallocable Liabilities 1,315,841.00 (1224066.00)

Total Liabilities 3,011,408.00 2883,750.00

NOTES

Business Segment :

The Internal Business segmentation and the activities encompassed therein are as follows :

Trading : Trading in Iron & Steel, Socks, Hosiery, Saree

Finance : Loan and Investment

6. The basic/diluted Earning per share of the Company is Net profit / No. of Shares i.e Rs. 2,32,112 / 33,09,900 = Rs. 0.07 (Previous Rs. 6.22,951 / 33,09,900 = Rs. 0.19) as defined in accounting standard 20 issued by ICAI.

7. Deferred Tax As at As At 31.03.2006 31.03.2005 a) Deferred Tax liability on account of Differences between the net book value of depreciable capital assets as per books vis-a-vis written down value as per Income Tax 854,946,00 941,203.00

b) In accordance with the requirements of Accounting Standard for taxes on income (AS 22) issued by ICAI, the deferred tax assets for financial year a sum of Rs. 86,257/- (Previous Year 6,83,268/-) has been credited to Profit & Loss Account.

3. Previous year figures have been regrouped and / or rearranged, wherever necessary, for comparison purposes.

8. INFORMATION PURSUANT TO SCHEDULE VI OF THE COMPANIES ACT, 1956

a) Opening & Closing Stock, Purchase and Turnover - Sale of Products

UNIT OPENING STOCK

Class of 31.3.2006 31.3.2005 Products Qty. Value Qty. Value

Socks Box 497 440 1537 138330/- Suitings Mtrs. - - - - M.S. Angle MT - - - - M.S. Channel MT - - - - M.S. Plat MT - - - - R.S. Joist MT - - - -

UNIT CLOSING STOCK

Class of 31.3.2006 31.3.2005 Products Qty. Value Qty. Value

Socks Box - - 497 44730/- Suitings Mtrs. - - - - M.S. Angle MT - - - - M.S. Channel MT - - - - M.S. Plat MT - - - - R.S. Joist MT - - - -

UNIT PURCHASE

Class of 31.3.2006 31.3.2005 Products Qty. Value Qty. Value

Socks Box - - - - Suitings Mtrs. - - 2152 20886/- M.S. Angle MT - - 66,930 19,68,490/- M.S. Channel MT - - 76,450 25,97,536/- M.S. Plat MT - - 113,480 39,92,880/- R.S. Joist MT 4646 4099935/- - -



UNIT TURNOVER

Class of 31.3.2006 31.3.2005 Products Qty. Value Qty. Value

Socks Box 497 24850/- 1040 104000/- Suitings Mtrs. - - 2152 21416/- M.S. Angle MT - - 66930 17,57,302/- M.S. Channel MT - - 76540 23,62,941/- M.S. Plat MT - - 113480 36,40,304/- R.S. Joist MT 4646 3036240/- - -

31st March, 2006 31st March, 2005

Rs. P. Rs. P.

b) Value of Imports Capital Goods CIF Basis

c) Consumption of Raw Materials

2005 - 2006 2004 - 2005

Unit Qty. Value Qty. Value

NIL NIL NIL NIL NIL NIL

31st, March, 2006 31st, March, 2005

Rs. P. Rs. P.

2005 - 2006 2004 - 2005

d) Consumption of Raw Materials Spare Rs. P. % of Total Rs. P. % of Total Parts and Components Consumption Consumption

Imported -- -- -- -- Indigenous -- -- -- --

e) Foreign Currency Income & Expenditure 2005 - 2006 2004 - 2005 Income NIL NIL Expenditure NIL NIL

For AGARWAL MEMANI & CO. 1, British Indian Street Chartered Accountants A. Poddar Kolkata - 700 069 Dated : 26th August, 2006. (RAJ KUMAR AGARWAL) S. Shah Proprietor Directors

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Mar 31, 2005

1. Contingent liability not provided for in respect of:

(Rupees(KM)) 30.06.2004 30.06.2003

a) Sales Tax demands pending in appeal 14.86 14.86

2. Depreciation has been charged on Straight Line method at the rates prescribed in Schedule XIV of the Companies Act. 1956.

3. The liability for gratuity and leave encashment has not been actuariatly determined and the Company continues to account for such liability on actual payment basis.

4. Related Party Statement

(A) Related Party and their relationship Associates

The Vidarbha Paper Mills limited, Kanhan

Shree Baidyanath Ayurved Bhavan Pvt. Ltd.. Nagpur

Shree Baidyanath Ayurved Bhavan Pvi. Ltd., Seoni

Shree Baidyanath Ayurved Bhavan Pvt. Ltd.. Bahadura

Shree Baidyanath Ayurved Bhavan Pvt. Ltd., Jhansi

Shree Baidyanath Ayurved Bhavan Pvt. Ltd. Baddi

Siddhayu Ayurvedic Research Foundation Pvt. Ltd., Nagpur

Shakti Offset Pvt. Ltd.. Nagpur

Sri Krsna Cardboards Pvt. Ltd.. Nagpur

Super Offset Pvt. Ltd., Nagpur

Shakti Offset Works, Nagpur

Sankalp Marketing & Management Services, Nagpur

Swati Enterprises. Nagpur

Siddhayu Ayurvedic Research Foundation Pvt. Ltd., Bahadura

Siddhayu Ayurvedic Research Foundation Pvt. Ltd.. Wadsa

(B) Transaction with Related Parties (In Rs)

Purchase of Goods 2,13,89,887.50

Sale Goods 4,24,91,803.20

Amount Paid on their behalf 38,79,217.25

Loan Given 63,25,150.00

Loan Taken 89,90,652.00

Job work got done 3,62,670.00

Directors Remuneration 1,80,000.00

6. Earning Per Share as per Accounting Standard 20

30.06.2004 30.06.2003

(a) Weighted average number of equity shares of Rs. 10/- each.

i) Number of shares at the beginning of the year 3520200 3520200

ii) Number of shares at the end of the year 3520200 3520200

Weighted average nnnfewr ef equity shares outstanding during the year 3520200 3520200

b) Net Profit (Loss) after tax available for equity share Holders (in Rupees in 000) 17148.37 7262.97

(c) Basic and diluted earning per share (in Rupees) (4.87) 2.06

(Rupees 000)

7. Interest Includes :- 30.06.2004 30.06.2003

Interest on C/C. A/c. (including commission) 7815.68 6156.73

Interest on Term Loan 17203.05 9667.83

Others 513436 -

30153.09 15824.56

(Rupees 000) 8. Payment to Auditors Include :- 30.06.2004 30.06.2003

For Audit fees (Statutory) 50.00 50.00

For Tax Audit Fees (including : 20.00 20.00 arrears of earlier years)

For Other matters (Certification & Taxation) : 20.00 20.00

90.00 90.00

9. Previous years figures have been re-grouped wherever necessary.

(Rupees000) 30.06.2004 30.06.2003

10) FOB Value of Exports (Deemed Export) 11537.00 19545.00 C The Company is supporting supplier to Exporter under EPCO Scheme) Direct Export 7772.45

11) Expenditure in foreign currency on

i) Technical know-how

ii) Others

12) Value of imports calculated on CIF basis. i) Raw material. ii) Components & spare parts Amount remitted during the year in foreign Currencies on account of dividends

13) Computation of net profit in accordance with Section 349 of the Companies Act. 1956 for the year ended 30th June. 2004

(Rupees 000) 30.06.2004 30.06.2003

(a) Profit\(Loss) before taxation as per Profit and Loss Account (1748.37) 7262.97

Add : Depreciation charged in the Accounts 17581.06 14151.66

Directors remuneration including Directors fees 363.29 441.17

17944.35 14592.83

795.98 21855.80

Less : Depreciation u/s 350 of the Companies Act, 1956 17581.06 14151.66

: Profit on sale of investments

: Loss on sale of Fixed Assets as per Section 349 (3) (d) of the Companies Act, 1956 - -

17581.06 14151.66

Total 1678.00 7704.14

Commission to Executive Directors restricted to 84.08 84.00

(Rupees 000) 30.06.2004 30.06.2003

(b) Managerial Remuneration to Directors:

(a) Salaries 180.00 180.110

(b) Perquisites (including sitting fee &Commission) 183.29 261.17

363.29 441.17

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Mar 31, 2003

1. Estimated amount of contracts remaining to be executed for capital expenditure and not provided for : Nil (Previous Year - Nil)

2. No provision has been made in the accounts for gratuity liability as none of the employee has completed the continuous period of 5 years as stipulated under the payment of Gratuity Act, 1972.

3. The manufacturing unit of the Company was under closure for the entire period. Hence, no physical verification of Fixed Assets could be undertaken.

4. Interms of Accounting Standard 18 pertaining to "Related Party Disclosures" issued by ICAI, related party transactions are as follows : Related Party Relation- Transactions ship Sri Abhishek Poddar Director Interest Free loan given Rs. 15,30,000/-

5. The company has only one line of product viz. Hosiety and is managed organisationally as a single unit, therefore, no separate segment is identifiable as required by accounting standard 17 issued by ICAI.

6. The basic/diluted Earning per share of the company is Net Profit / No. of Shares ie., Rs. 12,24,805 / 33,09,900 = Rs. 0.37 as defined in Accounting Standard 20 issued by ICAI.

7. Deferred Tax As at As at 31.03.2003 31.03.2002

a. Deferred Tax liability on account of Difference between the net book value of depreciable capital assets as per books vis-a-vis written down value as per Income Tax 17,36,691.00 18,22,397.00

b. In accordance with the requirement of Accounting Standard for taxes on income (AS 22) issued by ICAI, the deferred tax assets for financial year a sum of Rs. 85,706/- (Previous year 26,306/-) has been credited to Profit and Loss Acount.

8. Previous year figures have been regrouped and / or rearranged, wherever necessary, for comparison purposes.

---

Mar 31, 2002

1. Estimated amount of contracts remaining to be executed for capital expenditure and not provided for: Nil (Previous Year - Nil)

2. No provision has been made in the accounts for gratuity liability as none of the employee has completed the continuous period of 5 years as stipulated under the payment of Gratuity Act, 1972.

3. The manufacturing unit of the Company was under closure for the entire year. Hence, no physical verification of Fixed Assets could be undertaken.

4. The Company has no related parties to be disclosed as defined in accounting standard 18 issued by ICAl.

5. The Company has only one Side of product Viz. Hosiery and is managed organisationally as a single unit, therefore, no separate segment is identifiable as required by accounting standard 17 issued by ICAl.

6. The basic/diluted Earning per share of the Company is Net profit/No. of Shares i. e Rs. 2,40,190/38,27,050 = Rs. 0.06 as defined in accounting standard 20 issued by ICAl.

8. Previous year figures have been regrouped and/or rearranged, wherever necessary, for comparison purposes.

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Mar 31, 2001

1. Estimated amount of contracts remaining to be executed for capital expenditure 2nd not provided for: Nil (Previous Year- Nil)

2. No provision has been made in the accounts for gratuity liability as none of the employee has completed the continuous period of 5 years as stipulated under the payment of Gratuity Act, 1972, amount of which is unascertainable.

3. Consumption of raw materials and stores & spare parts includes Rs. 71,012/- and Rs. 22,340/- respectively for goods stolen against which insurance claim has been lodged.

4. Previous year figures have been regrouped and/or rearranged, wherever necessary, for comparison purposes.

---

Mar 31, 2000

1. Estimated amount of contracts remaining to be executed for capital expenditure and not provided for : Nil (Previous Year-Nil)

2. No provision for shortfall in market value of investment amounting to Rs. 1,40,655.00 (Previous year Rs. 15,40,027.50) has been made in the accounts.

3. No provision has been made in the accounts for gratuity liability as none of the employee has completed the continuous period of 5 years as stipulated under the payment of Gratuity Act, 1972, amount of which is unascertainable.

4. Previous year figures have been regrouped and/or rearranged, wherever necessary, for comparison purposes.

---

Mar 31, 1999

1. Estimated amount of contracts remaining to be executed for capital expenditure and not provided for Nil (Previous Year-Nil)

2. No provision for shortfall in market value of investments amounting to Rs. 15,40,027.50 (Previous year Rs. 10,00,695/-) has been made in the accounts.

3. No Provision has been made in the accounts for gratuity liability as none of the employee has completed the continuous period of 5 years as stipulated under the payment of Gratuity Act, 1972, amount of which is unascertainable.

4. Provision for taxation has been made for Minimum Alternate Tax (Mat) as per Section 115JA of the Income Tax Act, 1961 which may be available as tax credit in the coming years in terms of Section 115JAA of the said Act.

5. Previous year figures have been regrouped and/or rearranged, wherever necessary, for comparison purposes.

---

Mar 31, 1998

Details is not available in this Annual Report of 1998-99.

---

Mar 31, 1997

1. No provision for shortfall in market value of investments amounting to Rs. 14,38,775.50 has been made in the accounts.

2. No provision has been made in the accounts for gratuity liability as none of the employee has completed the continuous period of 5 years as stipulated under the Payment of Gratuity Act, 1972, amount of which is unascertainable.

3. Provision for taxation has been made for Minimum Alternate Tax (MAT) as per Section 115JA of the Income Tax Act, 1961 which may be available as tax credit in the coming years in terms of Section 115JAA of the said Act.

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Mar 31, 1996

1. Deed of conveyance in respect of Land measuring 19 cottahs 3 chattacks are yet to be executed.

2. No provision for shortfall in market value of investments amounting to Rs. 14,70,449.50 has been made in the accounts.

3. Previous year figures have been regrouped and/or rearranged, wherever necessary, for comparison purposes. However previous years figures are for 6 months. Previous year figures for profit & Loss is not given as the Company has started commercial production from 14th March, 1996.

4. Since none of the Employee has completed the continuous period of five years as stipulated under The Payment of Gratuity Act, 1972, No provision for gratuity has been made.

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Mar 31, 1995

NOTES TO THE ACCOUNTS

1. In the opinion of the management, no liability towards income tax is contemplated and therefore no tax provision has been made.

2. Since none of the Employee has completed the continuous period of five years as stipulated under the payment of Gratuity Act, 1972 No provision for gratuity has been made.

3. All direct and indirect revenue have been shown as "Preoperative expendture during constuction prending allocation" and will be allocated to respective fixed assets on commencement of Commercial Production.

4. In the opinion of the Board and to the best of their knowledge and belief, the value of realisation of Current Assets, Loans and Advances, in the ordinary course of business would not be less than the amount at which they are stated in the Balance Sheet.

5. Figures of the Current accounting period are for 6 months.

6. This being the first Balance Sheet, there are no corresponding figures for the previous year.