Ashiana Agro Industries Ltd. కంపెనీ అకౌంటింగ్ విధానాలు

Mar 31, 2025

1) CORPORATE INFORMATION

Ashiana Agro Industries Limited is a Public Limited Company incorporated and domiciled in India and has its registered office in Tamilnadu, India having its securities listed in BSE Limited and involved in carrying on the business of Trading of Packaging material required for various industries.

2) SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

i. Basis of preparation of financial statements

The standalone financial statements of the Company have been prepared in accordance with Indian Accounting Standards (Indian Accounting Standards) notified under the Companies (Indian Accounting Standards) Rules, 2015 read with Companies (Indian Accounting Standards) Amendment Rules, 2016. The Company has prepared these financial statements to comply in all material respects with the accounting standards notified under section 133 of the Companies Act 2013, read together with paragraph 7 of the Companies (Accounts) Rules 2014 and Companies (Accounting Standards) Amendment Rules, 2016.

The standalone financial statements have been prepared on an accrual basis.

(The accounting policies have been consistently applied by the Company during the year end and are consistent with those used in the previous period, except where disclosed otherwise, with those of previous year.)

The accounting policies adopted in the preparation of standalone financial statements are consistent with that of [previous year, except for the change in accounting policy explained below:

Fair value is the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. The fair value measurement is based on the presumption that the transaction to sell the asset or transfer the liability takes place either:

/ In the principal market for the asset or liability, or

/ In the absence of a principal market, in the most advantageous market for the asset or liability

All assets and liabilities for which fair value is measured or disclosed in the financial statements are categorized within the fair value hierarchy, described as follows:

• Level 1 - Quoted (unadjusted) market prices in active markets for identical assets or liabilities

• Level 2 - Valuation techniques for which the lowest level input that is significant to the fair value measurement is directly or

indirectly observable

• Level 3 - Valuation techniques for which the lowest level input that is significant to the fair value measurement is

unobservable.

ii. Use of estimates:

The preparation of the financial statements requires the management to make judgments, estimates and assumptions that affect the reported amounts of revenues, expenses, assets and liabilities and the disclosure of the contingent liabilities, at the end of the reporting period.

Although these estimates are based on the management''s best knowledge of the current events and actions, uncertainty about these assumptions and estimates could result in outcomes requiring a material adjustment to the carrying amounts of the assets or liabilities in the future period.

Estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognized prospectively in the year in which the estimate is revised and/or in future years, as applicable.

iii. Taxes on Income:

• Provision for current taxation is made based on the liability computed in accordance with the relevant tax rates and tax laws.

• Provision for Deferred Tax is made for timing differences arising between the taxable incomes and accounting income computed using the tax rates and the laws that have been enacted or substantively enacted as on the balance sheet date.

• Deferred Tax assets are recognized if there is reasonable certainty that there will be sufficient future taxable income available to realize such assets.

iv. Provisions:

A provision is recognized when the company has a present obligation as a result of the past event, it is probable that an outflow of resources embodying future economic benefits will be required to settle the obligations and a reliable measure can be made of the amount of obligation. Provisions are not discounted to their present value and are determined on the best estimate required to settle the obligation at the reporting date. These estimates are reviewed at each reporting date and adjusted to reflect the current best estimates.

Contingent liability is disclosed for

• Possible obligations which will be confirmed only by future events not wholly within the control of the Company or

• Present obligations arising from past events where it is not probable that an outflow of resources will be required to settle the obligation or a reliable estimate of the amount of the obligation cannot be made.

• Contingent Liabilities: NIL

Contingent assets are not recognized in the standalone financial statements since this may result in the recognition of income that may never be realized.

v. 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. Purchases or sales of financial assets that require delivery of assets within a time frame established by regulation or convention in the market place (regular way trades) are recognised on the trade date, i.e., the date that the Company commits to purchase or sell the asset.

Subsequent measurement

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

• Debt instruments at amortised cost

• Debt instruments at fair value through other comprehensive income (FVTOCI)

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

• 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:

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

• 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 finance income in the profit or loss. The losses arising from impairment are recognised in the profit or loss. This category generally applies to trade and other receivables.

Debt instrument at FVTOCI

A ‘debt instrument’ is classified as at the FVTOCI if both of the following criteria are met:

• The objective of the business model is achieved both by collecting contractual cash flows and selling the financial assets, and

• The asset’s contractual cash flows represent SPPI.

Debt instruments included within the FVTOCI category are measured initially as well as at each reporting date at fair value. Fair value movements are recognized in the other comprehensive income (OCI). However, the Company recognizes interest income, impairment losses & reversals and foreign exchange gain or loss in the P&L. On de-recognition of the asset, cumulative gain or loss previously recognised in OCI is reclassified from the equity to P&L. Interest earned whilst holding FVTOCI debt instrument is reported as interest income using the EIR method.

Debt instrument at FVTPL

Any debt instrument, which does not meet the criteria for categorization as at amortized cost or as FVTOCI, is classified as at FVTPL.

In addition, the Company may elect to designate a debt instrument, which otherwise meets amortized cost or FVTOCI criteria, as at FVTPL. However, such election is allowed only if doing so reduces or eliminates a measurement or recognition inconsistency (referred to as ''accounting mismatch''). The Company has not designated any debt instrument as at FVTPL.

Debt instruments included within the FVTPL category are measured at fair value with all changes recognized in the P&L.

Equity investments

All equity investments in scope of Ind AS 109 are measured at fair value. Equity instruments which are held for trading and "contingent consideration classified as liability" recognised by an acquirer in a business combination to which Ind AS103 applies are classified as at FVTPL. For all other equity instruments, entities in the Company has made an irrevocable election to present in other comprehensive income subsequent changes in the fair value. Such election is made 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 P&L, even on sale of investment. However, the Company may transfer the cumulative gain or loss within equity.

De-recognition

A financial asset (or, where applicable, a part of a financial asset or part of a Company of similar financial assets) is primarily derecognised (i.e., removed from the Company’s consolidated balance sheet) when:

• The rights to receive cash flows from the asset have expired, or

• The Company has transferred its rights to receive cash flows from the asset or has assumed an obligation to pay the received cash flows in full without material delay to a third party under a ''pass-through'' arrangement; and either (a) the Company has transferred substantially all the risks and rewards of the asset, or (b) the Company has neither transferred nor retained substantially all the risks and rewards of the asset, but has transferred control of the asset.

When the Company has transferred its rights to receive cash flows from an asset or has entered into a pass-through arrangement, it evaluates if and to what extent it has retained the risks and rewards of ownership. When it has neither transferred nor retained substantially all of the risks and rewards of the asset, nor transferred control of the asset, the Company continues to recognise the transferred asset to the extent of the Company''s continuing involvement. In that case, the Company also recognises an associated liability. The transferred asset and the associated liability are measured on a basis that reflects the rights and obligations that the Company has retained.

Continuing involvement that takes the form of a guarantee over the transferred asset is measured at the lower of the original carrying amount of the asset and the maximum amount of consideration that the Company could be required to repay.

Impairment of financial assets

In accordance with Ind AS 109, the Company applies expected credit loss (ECL) model for measurement and recognition of impairment loss on the following financial assets and credit risk exposure:

• Financial assets that are debt instruments, and are measured at amortised cost e.g., loans, debt securities, deposits, trade receivables and bank balance

• Financial assets that are debt instruments and are measured as at FVTOCI

• Lease receivables under Ind AS 17

• Trade receivables or any contractual right to receive cash or another financial asset that result from transactions that are within the scope of Ind aS 11 and Ind AS 18

• Loan commitments which are not measured as at FVTPL

• Financial guarantee contracts which are not measured as at FVTPL

The Company follows ‘simplified approach’ for recognition of impairment loss allowance on:

• Trade receivables or contract revenue receivables; and

• All lease receivables resulting from transactions within the scope of Ind AS 17

The application of simplified approach does not require the Company to track changes in credit risk. Rather, it recognises impairment loss allowance based on lifetime ECLs at each reporting date, right from its initial recognition.

For recognition of impairment loss on other financial assets, the Company determines that whether there has been a significant increase in the credit risk since initial recognition. If credit risk has not increased significantly, 12-month ECL is used to provide for impairment loss. However, if credit risk has increased significantly, lifetime ECL is used. If, in a subsequent period, credit quality of the instrument improves such that there is no longer a significant increase in credit risk since initial recognition, then the entity reverts to recognising impairment loss allowance based on 12-month ECL.

Lifetime ECL are the expected credit losses resulting from all possible default events over the expected life of a financial instrument. The 12-month ECL is a portion of the lifetime ECL which results from default events that are possible within 12 months after the reporting date.

ECL is the difference between all contractual cash flows that are due to the Company in accordance with the contract and all the cash flows that the entity expects to receive (i.e., all cash shortfalls), discounted at the original EIR. When estimating the cash flows, an entity is required to consider:

• All contractual terms of the financial instrument (including prepayment, extension, call and similar options) over the expected life of the financial instrument. However, in rare cases when the expected life of the financial instrument cannot be estimated reliably, then the entity is required to use the remaining contractual term of the financial instrument

• Cash flows from the sale of collateral held or other credit enhancements that are integral to the contractual terms

As a practical expedient, the Company uses a provision matrix to determine impairment loss allowance on portfolio of its trade receivables. The provision matrix is based on its historically observed default rates over the expected life of the trade receivables and is adjusted for forward-looking estimates. At every reporting date, the historical observed default rates are updated and changes in the forward-looking estimates are analysed.

ECL impairment loss allowance (or reversal) recognized during the period is recognized as income/ expense in the statement of profit and loss (P&L). This amount is reflected under the head ‘other expenses’ in the P&L. The balance sheet presentation for various financial instruments is described below:

• Financial assets measured as at amortised cost, contractual revenue receivables and lease receivables: ECL is presented as an allowance, i.e., as an integral part of the measurement of those assets in the balance sheet. The allowance reduces the net carrying amount. Until the asset meets write-off criteria, the Company does not reduce impairment allowance from the gross carrying amount.

• Loan commitments and financial guarantee contracts: ECL is presented as a provision in the balance sheet, i.e., as a liability.

• Debt instruments measured at FVTOCI: Since financial assets are already reflected at fair value, impairment allowance is not further reduced from its value. Rather, ECL amount is presented as ‘accumulated impairment amount’ in the OCI.

For assessing increase in credit risk and impairment loss, the Company combines financial instruments on the basis of shared credit risk characteristics with the objective of facilitating an analysis that is designed to enable significant increases in credit risk to be identified on a timely basis.

Financial liabilities

Initial recognition and measurement

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

The Company’s financial liabilities include trade and other payables, loans and borrowings including bank overdrafts, financial guarantee contracts and derivative financial instruments.

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 derivatives, 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. This category also includes derivative financial instruments entered into by the Company that are not designated as hedging instruments in hedge relationships as defined by Ind AS 109. Separated embedded derivatives are also classified as held for trading unless they are designated as effective hedging instruments.

Gains or losses on liabilities held for trading are recognized in the 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 risks are recognized in OCI. These gains/ losses 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. Gains and losses are recognised in profit or loss when the liabilities are derecognised as well as through the EIR amortisation process.

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.

De-recognition

A financial liability is derecognised when the obligation under the liability is discharged or cancelled or expires. When an existing financial liability is replaced by another from the same lender on substantially different terms, or the terms of an existing liability are substantially modified, such an exchange or modification is treated as the de-recognition of the original liability and the recognition of a new liability. The difference in the respective carrying amounts is recognised in the statement of profit or loss.

Reclassification of financial assets

The Company determines classification of financial assets and liabilities on initial recognition. After initial recognition, no reclassification is made for financial assets which are equity instruments and financial liabilities. For financial assets which are debt instruments, a reclassification is made only if there is a change in the business model for managing those assets. Changes to the business model are expected to be infrequent. The Company’s senior management determines change in the business model as a result of external or internal changes which are significant to the Company’s operations. Such changes are evident to external parties. A change in the business model occurs when the Company either begins or ceases to perform an activity that is significant to its operations. If the Company reclassifies financial assets, it applies the reclassification prospectively from the reclassification date which is the first day of the immediately next reporting period following the change in business model. The Company does not restate any previously recognised gains, losses (including impairment gains or losses) or interest.

vi. Earnings Per share

Basic earnings per share is computed by dividing profit after tax (including the post-tax effect of extraordinary items, if any) by the weighted average number of equity shares outstanding during the year.

Diluted earnings per share is computed by dividing the profit after tax (including the post-tax effect of extraordinary items, if any) as adjusted for dividend, interest and other charges to expense or income (net of any attributable taxes) relating to the dilutive potential equity shares by the weighted average number of equity shares considered for deriving basic earnings per share and the weighted average number of equity shares which could have been issued on the conversion of all dilutive potential equity shares.

Potential equity shares are deemed to be dilutive only if their conversion to equity shares would decrease the net profit per share from continuing ordinary operations. Potential dilutive equity shares are deemed to be converted as at the beginning of the period, unless they have been issued at a later date.

The dilutive potential equity shares are adjusted for the proceeds receivable had the shares been actually issued at fair value (i.e., average market value of the outstanding shares). Dilutive potential equity shares are determined independently for each period presented. The number of equity shares and potentially dilutive equity shares are adjusted for share splits/ reverse share splits and bonus shares, as appropriate.

vii. Cash flow statement

Cash flows are reported using the indirect method, whereby profit before tax is adjusted for the effects of transactions of a non -cash nature and any deferrals or accruals of past or future cash receipts or payments. The cash flows from regular revenue generating, financing and investing activities of the Company are segregated.

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Mar 31, 2024

18) SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

i. Basis of preparation of financial statements

The standalone financial statements of the Company have been prepared in accordance with Indian Accounting
Standards (Indian Accounting Standards) notified under the Companies (Indian Accounting Standards) Rules, 2015 read
with Companies (Indian Accounting Standards) Amendment Rules, 2016. The Company has prepared these financial
statements to comply in all material respects with the accounting standards notified under section 133 of the Companies
Act 2013, read together with paragraph 7 of the Companies (Accounts) Rules 2014 and Companies (Accounting
Standards) Amendment Rules, 2016.

The standalone financial statements have been prepared on an accrual basis.

(The accounting policies have been consistently applied by the Company during the year end and are consistent with
those used in the previous period, except where disclosed otherwise, with those of previous year.)

The accounting policies adopted in the preparation of standalone financial statements are consistent with that of [previous
year, except for the change in accounting policy explained below:

Fair value is the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between
market participants at the measurement date. The fair value measurement is based on the presumption that the
transaction to sell the asset or transfer the liability takes place either:

/ In the principal market for the asset or liability, or

/ In the absence of a principal market, in the most advantageous market for the asset or liability

All assets and liabilities for which fair value is measured or disclosed in the financial statements are categorized within the
fair value hierarchy, described as follows:

• Level 1 - Quoted (unadjusted) market prices in active markets for identical assets or liabilities

• Level 2 - Valuation techniques for which the lowest level input that is significant to the fair value measurement is directly or

indirectly observable

• Level 3 - Valuation techniques for which the lowest level input that is significant to the fair value measurement is
unobservable.

ii. Use of estimates:

The preparation of the financial statements requires the management to make judgments, estimates and assumptions that
affect the reported amounts of revenues, expenses, assets and liabilities and the disclosure of the contingent liabilities, at
the end of the reporting period.

Although these estimates are based on the management''s best knowledge of the current events and actions, uncertainty
about these assumptions and estimates could result in outcomes requiring a material adjustment to the carrying amounts
of the assets or liabilities in the future period.

Estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are
recognized prospectively in the year in which the estimate is revised and/or in future years, as applicable.

iii. Taxes on Income:

• Provision for current taxation is made based on the liability computed in accordance with the relevant tax rates and tax
laws.

• Provision for Deferred Tax is made for timing differences arising between the taxable incomes and accounting income
computed using the tax rates and the laws that have been enacted or substantively enacted as on the balance sheet
date.

• Deferred Tax assets are recognized if there is reasonable certainty that there will be sufficient future taxable income
available to realize such assets.

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Mar 31, 2015

1) Accounting Policies

(a) The books of account are maintained under mercantile system of accounting and financial statements are prepared in accordance with the applicable accounting standards issued by the Institute of Chartered Accountants of India.

(b) Fixed assets are stated at cost of acquistion, including any cost attributable for bringing the asset to its working condition for its intended use, less accumulated depreciation.

(c) Depreciation is provided on 'Straight Line method" at the rates specified in Schedule II to the Companies Act, 2013. Depreciation is being provided on assets sold, discarded, demolished or scrapped during the year upto date of its last use.

(d) Investments: NIL

(e) Retirement Benefits: The provision of Employees Provident Funds and Miscellaneous Provisions Act, 1952, the Provisions of Payment of Gratuity Act, 1972, the Provisions of Employees State Insurance Act, 1948 and other labour Acts are not applicable to the company, since the company employees less than the minimum numberof persons prescribed underthe above acts.

AS -1: Disclosure of accounting policies

The accounts are prepared on accrual basis as a going concern. But since the company has sold entire Plant & machinery and other ancillary equipements pertaining to its edible vegetable oil refinery plant and has not manufactured any product for the polices.

AS - 2: Valuation of Inventories

Inventories are valued at cost or net realizable value whichever is lower.

AS - 3: Cash flow Statements

The Company has complied withAS -3 and prepared Cash flow statements, as attached in Annexure I AS - 4: Events occurring after the Balance Sheet Date

No significant event has occurred after the Balance Sheet Date.

AS -5: Net profit or loss for the period, prior period items and changes in accounting policies No change in accounting polices during the year.

AS -6 depreciation Accounting

Depreciation is provided on Straight Line Method, at the rates specified in Schedule II to the Companies Act, 2013. AS - 7: Construction Contracts

This Accounting Standard is not applicable.

AS - 8: Research & Development

ThisAccounting Standard has been withdrawn.

AS - 9: Revenue Recognition

Income from Unsecured Loan given an Interest on Fixed deposits are accounted on accrual basis.

AS -10 :Accounting for Fixed Assets

Fixed assets are valued at cost including expenditure incurred in bringing them to usable condition less depreciation

AS -11: Accounting for effects of changes in foreign exchange rates

No Forextransactions in the current year.

AS -12 :Accounting for Government Grants

The Company has not received any grants.

AS -13: Accounting for Investments

The company has not made any investments during the current year and does not have any investments as on 31.03.2015

AS -14 :AccountingforAmalgamations

No amalgamation during the year.

AS -15 :Accounting for Employee Benefits

This accounting standard is applicable and the same is followed in an consistent manner.

AS -16: Borrowing Cost

During the year, the company has not dealt with any borrowings.

AS -17: Segment reporting

Particulars Financial Activity Trading Activity for the FY 2013-14 for the FY2014-15

Revenue From Operation 1,500,000 1,673,395

Less: Cost of Revenue from Operation - 1,609,878

Result from operation 1,500,000 63,518

AS -18: Related Party Disclosure

A. Related Parties

Name of the Related Party Relationship

Serengeti Holdings Private Limited Associate Company

Mr. Radesh Rangarajan Director

Mr. Pavan Kumar Matli Whole Time Director

Mr. Shankar Venkatakrishnan Additional Director

Mrs. Vemareddy Srutha keerthi Director

Mr. Nirmal Kumar Dash Director

B. Nature of Transactions

Name of the Related Party Nature of Transaction Amount in Rs.

Mr. Pavan Kumar Matli Salary 660,000

AS -19: Accounting for Leases

The Company has one operating lease and is accounted as perAS -19.

AS - 20: Earnings per share

S.No. Particulars 31/03/2015 31/03/2014

1 Profit (Loss) after Tax as per 7,051 170,668 Profit & LossAccount

2 Weighted average number of equity shares of Rs. 10/- share outstanding during the year 4,600,000 4,600,000

3 Earnings per share - Basic & Diluted 0.00 0.04

AS - 21 : Consolidated Financial Statements

AS21 : Is not applicable

AS - 22: Accounting for taxes on Income

Deferred tax is recognized, subject to the consideration of prudence, on timing differences, being the difference between the taxable incomes and accounting income that originate in one period and are capable of reversal in one or more subsequent peroid (s) On evaluation of reasonable certainty and as per the AS - 22, deferred tax liabilities/ assets are nil as the company believes that such liabilities assets are not likely to be reversed in future years.

AS - 23: Accounting for Investment in associates

This standard is not applicable to the Company.

AS - 24: Discontinuing Operation

During the year the Company has not discontinued any of its operations AS - 25: Interim Financial Reporting

This standard is not applicable to the Company.

AS -26 :AccountingforIntangibleAssets

This standard is not applicable to the Company.

AS - 27: Financial reporting of interests in Joint Venture.

This standard is not applicable to the Company.

AS - 28: Impairment of Assets

As on the Balance Sheet date, the carrying amounts of the assets are considered not less than the recoverable amount of those assets. Hence, no impairment loss is considered.

AS - 29: Provisions, Contingent Liabilities and Contingent Assets

No contingent Liabilities or assets exists for the company Other Notes to Accounts

(i) Company has extended an unsecured loan to Daidem Enterprises Private Limited for RS. 2,27,00,000/- at an interest rate of 10% p.a. and the company has received back an amount of Rs. 77,00,000/-during the financial year 2013-14 whose balance as on 31st March 2015 is Rs. 1,50,00,000/-. There is no agreement for the loan given to M/s Diadem Enterprises Private Limited, but there are various communications with M/s Diadem Enterprises Private Limited confirm the loan.

(ii) Lending money with or without interest or security to any person as is specified in the Memorandum of Association underthe ancillary objects clause and not under the main objects clause.

(iii) The Company has sold its entire plant & machinery and other ancillary equipments pertaining to its edible vegetable oil refinery plant in earlier years. The Company has not undertaken manufacturing activity during the year and hence additional information pursuant to part II of Schedule VI to the Companies Act are not applicable to the Company.

(iv) The accounts have been prepared on going concern assumption. However in view of the sale of entire plant & machinery, other ancillary equipments pertaining to its edible vegetable oil refinery plant and land & building, the company has not undertaken manufacturing activtiy during the year. The company has so far not made any plans to replace the fixed assets that have sold. These factors raise substantial doubt about the companies ability to continue as a going concern in the foreseeable future.

(v) Details of Payment to Auditors (Including Service Tax)

Particulars 31/03/2015 31/03/2014

a) For Statutory Audit 14,045 28,090

(vi) As perthe information available with the company, there is no amount due to the enterprises mentioned in the Micro Small Medium Enterprises Development Act 2006 as on the date of Balance sheet.

(vii) Previous year's figures have been regrouped wherever necessary to conform to current year's classification.

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Mar 31, 2012

The accounts have been prepared to comply in all material aspects with applicable accounting principles in India, the Accounting Standards issued by the Institute of Chartered Accountants of India and the relevant provisions of the Companies Act, 1956.

System of Accounting:

i) Financial statements are based on historical cost.

ii) The Company generally follows the mercantile system of accounting and recognises income and expenditure on accrual basis except those with significant uncertainties.

Fixed Assets :

Fixed assets are stated at cost. The cost of Fixed Assets includes acquisition and installation expenses incidental to acquisition like freight, erection, installation and commissioning etc. are capitalised to the original cost of Fixed Assets.

Depreciation:

Depreciation on Fixed Assets is provided on "Straight Line Method " in the manner and at the rates specified in Schedule XIV of the Companies Act, 1956. Depreciation on additions to fixed assets is being provided on pro rata basis from the date of acquisition or installation of the fixed assets. No depreciation is being provided on assets sold, discarded, demolished or scrapped during the year.

Investments: Nil

Retirement Benefits:

The provisions of Employees Provident Funds and Miscellaneous Provisions Act, 1952, the provisions of Payment of Gratuity Act, 1972, the Provisions of Employees State Insurance Act, 1948 and other labour laws are not applicable to the Company, since the Company employees less than the minimum number of persons prescribed under the above Acts.

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Mar 31, 2010

The accounts have been prepared to comply in all material aspects with applicable accounting principles in India, the Accounting Standards issued by the Institute of Chartered Accountants of India and the relevant provisions of the Companies Act, 1956.

System of Accounting:

i) Financial statements are based on historical cost.

ii) The Company generally, follows the mercantile system of accounting and recognises income and expenditure on accrual basis except those with significant uncertainties.

Fixed Assets:

Fixed assets are stated at cost. The cost of Fixed Assets includes acquisition and installation expenses incidental to acquisition like freight, erection, installation and commissioning etc. are capitalised to the original cost of Fixed Assets.

Depreciation:

Depreciation on Fixed Assets is provided on "Straight Line Method" in the manner and at the rates specified in Schedule XIV of the Companies Act, 1956. Depreciation on additions to fixed assets is being provided on pro rata basis from the date of acquisition or installation of the fixed assets. No depreciation is being provided on assets sold, discarded, demolished or scrapped during the year.

Investments:

i) Long term investments are stated at cost after deducting provision, if any, in cases where the fall in market value has been considered of permanent nature.

ii) Current investments are stated at lower of cost and fair value.

Retirement Benefits:

The provisions of Employees Provident Funds and Miscellaneous Provisions Act, 1952, the provisions of Payment of Gratuity Act, 1972, the Provisions of Employees State Insurance Act, 1948 and other labour laws are not applicable to the Company, since the Company employees less than the minimum number of persons prescribed under the above Acts.