అకౌంట్స్ గమనికలుMidland Polymers Ltd.

Mar 31, 2025

1.23 Provisions, Contingent Liabilities and Contingent Assets (Ind AS 37):

The Company recognized provisions when there is present obligation as a result of past event and it is
probable that there will be an outflow of resources required to settle the obligation in respect of which a
reliable estimate can be made. A disclosure for Contingent liabilities is made when there is a possible
obligation or present obligations that may, but probably will not, require an outflow of resources. These
are reviewed at each Balance Sheet date and adjusted to reflect the current best estimates. Contingent
assets are neither recognized nor disclosed in the financial statements.

1.24 Prior Period and Extraordinary and Exceptional Items:

(i) All Identifiable items of Income and Expenditure pertaining to prior period are accounted through
‘’Prior Period Items’’.

(ii) Extraordinary items are income or expenses that arise from events or transactions that are clearly
distinct from the ordinary activities of the enterprise and, therefore, are not expected to recur
frequently or regularly. The nature and the amount of each extraordinary item be separately
disclosed in the statement of profit and loss in a manner that its impact on current profit or loss can
be perceived.

(iii) Exceptional items are generally non-recurring items of income and expenses within profit or loss
from ordinary activities, which are of such, nature or incidence.

1.25 Financial Instruments (Ind AS 107 Financial Instruments: (Disclosures))

I. Financial assets:

A. Initial recognition and measurement

All financial assets and liabilities are initially recognized at fair value. Transaction costs that are directly
attributable to the acquisition or issue of financial assets and financial liabilities, which are not at fair
value through profit or loss, are adjusted to the fair value on initial recognition.

a) financial assets carried at amortized cost (AC)

A financial asset is measured at amortized cost if it is held within a business model whose
objective is to hold the asset in order to collect contractual cash flows and the contractual terms
of the financial asset give rise on specified dates to cash flows that are solely payments of principal
and interest on the principal amount outstanding.

b) financial assets at fair value through profit or loss (FVTPL)

A Financial asset which is not classified as AC or FVOCI are measured at FVTPL e.g.
investments in mutual funds. A gain or loss on a debt investment that is subsequently measured
at fair value through profit or loss is recognised in profit or loss and presented net in the Statement
of Profit and Loss within other gains/(losses) in the period in which it arises.

c) financial assets at fair value through other comprehensive income (FVTOCI)

A financial asset is measured at FVTOCI if it is held within a business model whose Objective is
achieved by both collecting contractual cash flows and selling financial assets and the contractual
terms of the financial asset give rise on specified dates to cash flows that are solely payments of
principal and interest on the principal amount outstanding.

B. Investments in subsidiaries

The Company has accounted for its investments in subsidiaries at cost and not adjusted to fair value at the
end of each reporting period. Cost represents amount paid for acquisition of the said investments.

II. Financial Liabilities
A. Initial recognition

All financial liabilities are recognized at fair value.

B. Subsequent measurement

Financial liabilities are carried at amortized cost using the effective interest method. For trade and other
payables maturing within one year from the balance sheet date, the carrying amounts approximate fair
value due to the short maturity of these instruments.

1.26 Operating Segments (Ind AS 108)

Operating segment is a component of an entity:

a. That engages in business activities from which it may earn revenues and incur expenses (including
revenues and expenses relating to transactions with other components of the same entity).

b. Whose operating results are regularly reviewed by the entity’s chief operating decision maker to
make decision about resources to be allocated to the segments and assess its performance, and

c. For which discrete financial information is available.

The company is in the nature of trading in Single segment. Hence IND AS 108 is not applicable.

1.27 Events After the Reporting Period (Ind AS-10)

Events after the reporting period are those events, favorable and unfavorable, that occur between the end
of the reporting period and the date on which financial statements are approved by the Board of Directors
in case of accompany, and, by the corresponding approving authority in case of any other entity for issue.
Two types of events can be identified:

a. Those that provide evidence of conditions that existed at the end of the reporting period (adjusting
events after the reporting period) and

b. Those that are indicative of conditions that arose after the reporting period (non-adjusting events
after the reporting period).

An entity shall adjust the amounts recognized in its financial statements to reflect adjusting events after
the reporting period.

1.28 Income Taxes (Ind AS 12)

Tax Expense for the period comprises of current and deferred tax.

• Current Tax:

Current Tax on Income is determined and provided on the basis of taxable income computed in
accordance with the provisions of the Income Tax Act, 1961.

In the year in which ‘Minimum Alternative Tax ‘(MAT) on book profits is applicable and paid,
eligible MAT credit equal to the excess of MAT paid over and above the normally computed tax,
is recognized as an asset to be carried forward for set off against regular tax liability when it is
probable that future economic benefit will flow to the Company within the MAT credit Entitlement
period as specified under the provisions of Income Tax Act, 1961.

• Deferred Taxes:

Deferred tax liabilities are recognized for all timing differences. Deferred tax assets are recognized
for deductible timing differences only to the extent that there is reasonable certainty that sufficient
future taxable income will be available against which such deferred tax assets can be realized. In
situations where the Company has unabsorbed depreciation or carry forward tax losses, all deferred
tax assets are recognized only if there is virtual certainty supported by convincing evidence that
they can be realized against future taxable profits.

At each reporting date, the Company re-assesses unrecognized deferred tax assets. It recognizes
unrecognized deferred tax asset to the extent that it has become reasonably certain or virtually
certain, as the case may be, that sufficient future taxable income will be available against which
such deferred tax assets can be realized.

The carrying amount of deferred tax assets are reviewed at each reporting date. The Company writes-
down the carrying amount of deferred tax asset to the extent that it is no longer reasonably certain or
virtually certain, as the case may be, that sufficient future taxable income will be available against which
deferred tax asset can be realized. Any such write-down is reversed to the extent that it becomes
reasonably certain or virtually certain, as the case may be, that sufficient future taxable income will be
available.

1.29 Retirement and other Employee Benefits:

Retirement benefit in the form of provident fund is a defined contribution scheme. The Company has no
obligation, other than contribution payable to the provident fund. The Company recognizes contribution
payable to the provident fund scheme as expenditure, when an employee renders related service.

Gratuity liability is a defined benefit obligation and the cost of providing the benefits under this plan is
determined on the basis of actuarial valuation at each year-end. Actuarial valuation is carried out for this
plan using the projected unit credit method. Actuarial gains and losses for defined benefits plan is
recognized in full in the period in which they occur in the statement of profit and loss.

Accumulated leave, which is expected to be utilized within the next 12 months, is treated as short term
employee benefit. The Company measures the expected cost of such absences as the additional amount
that it expects to pay as a result of the unused entitlement that has accumulated at the reporting date.

The Company treats accumulated leave expected to be carried forward beyond twelve months, as long¬
term employee benefit for measurement purposes. Such long-term compensated absences are provided
for based on the actuarial valuation using the projected unit credit method at the year-end. Actuarial
gains/losses are immediately taken to the statement of profit and loss and are not deferred. The Company
presents the leave as a current liability in the balance sheet, to the extent it does not have an unconditional
right to defer its settlement for 12 months after the reporting date.

1.31 Consolidated and Separate Financial Statement (Ind AS 27):

The company has no subsidiary companies for the current reporting period. Hence consolidate and
separate financial statement are not applicable.

1.32 Investments in Associates (Ind AS 28):

The company has not made an investment in its associate company during the reporting period. This
accounting standard has financial impact on the financial statements for the current reporting period.

1.33 Interest in Joint Ventures (Ind AS 31):

The company has no interest in any Joint ventures. This accounting standard has no financial impact on
the financial statements for the current reporting period.

1.34 Earnings Per Share (Ind AS 33):

a) Basic Earnings Per Share for (continued operations) there are no discontinued operations hence, EPS is
presented for continued operations only.

1.35 Derivative instruments and un-hedged foreign currency exposure:

a) There are no outstanding derivative contracts as at March 31, 2025 and March 31, 2024.

b) Particulars of Un-hedged foreign currency exposure is: Nil

1.36 Confirmation of Balances

Confirmation letters have been issued by the company to Trade Receivables, Trade Payables, Advances
to suppliers and others advances requesting that the confirming party responds to the company only if the
confirming party disagrees with the balances provided in the request and however the company has not
received any letters on disagreements.

1.37 Details of Loans given, Investments made and Guarantee given covered Under Section
186(4) of the Companies Act, 2013.

The company has not extended any Corporate Guarantees in respect of loans availed by any
company/firm as at March 31, 2025.

The information has been given in respect of such vendors to the extent they could be identified as micro
and small enterprises on the basis of information available with company.

1.40 Financial Risk Management

In course of its business, the company is exposed to certain financial risk such as market risk (Including
currency risk and other price risks), credit risk and liquidity risk that could have significant influence on
the company’s business and operational/financial performance. The Board of directors reviews and
approves risk management framework and policies for managing these risks and monitor suitable
mitigating actions taken by the management to minimize potential adverse effects and achieve greater
predictability to earnings.

1.41 Credit Risk

Credit risk refers to the risk that counterparty will default on its contractual obligations resulting in
financial loss to the company. The company has adopted a policy of only dealing with creditworthy
counterparties and obtaining sufficient collateral, where appropriate, a means of mitigating the risk of
financial loss from defaults.

The company makes an allowance for doubtful debts/advances using expected credit loss model.

1.42 Liquidity risk

Liquidity risk refers to the risk that the company cannot meet its financial obligations. The objective of
liquidity risk management is to maintain sufficient liquidity and ensure that funds are available for use as
pre requirements. The Company’s exposure to liquidity risk is minimal as the promoters of the company
is infusing the funds based on the requirements.

1.43: Other Statutory Information

i. The Company does not have any Benami Property, where any proceeding has been initiated or pending
against the company for holding Benami Property.

ii. The Company does not have any transactions with Companies struck off.

iii. The Company does not have any charges or satisfaction which is yet to be registered with ROC beyond

the statutory period.

iv. The Company has not traded or invested in Crypto currency or virtual currency during the financial year.

v. The Company has not advanced or loaned or invested funds to any other person(s) or entity(ies), including

foreign entities (Intermediaries) with the understanding that the intermediary shall:

a. 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

b. Provide any guarantee, security or the like to or on behalf of the Ultimate Beneficiaries.

vi. The Company has not received any fund from any person(s) or entity(ies), including foreign entities
(Funding party) with the understanding (whether recorded in writing or otherwise) that the company shall:

a. Directly or indirectly lend or invest in other persons or entities identified in any manner whatsoever
by or on behalf of the Funding party (Ultimate Beneficiaries) or

b. Provide any guarantee, security or the like on behalf of the Ultimate beneficiaries.

vii. The Company have not such transactions which is not 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 survey or any other relevant provisions of the Income tax Act 1961.)

viii. Figures of the corresponding previous periods are regrouped and reclassified wherever considered
necessary to correspond with current period’s presentation. Rupees have been rounded off to nearest
lakhs.

For Pundarikashyam & Associates For and on behalf of

Chartered Accountants MIDLAND POLYMERS LIMITED

Firm Regn. No.011330S

Vanaja Veeramreddy Praneeth Thota

Managing Director Whole-time Director and CFO

B. Surya Prakasa Rao DIN: 07019245 DIN: 10127258

Partner

Membership No. 205125
Place: Hyderabad

Date: 27.05.2025 D. Lakshmi Jyothsna

Company Secretary and

UDIN: 25205125BMHZMT5330 compliance officer

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Mar 31, 2015

1. The Company was declared a Sick Industrial Company on dated 18/10/2002 as per the provision of Sick Industrial Company Act, 1985 (SICA). Thereafter net worth of the company turned positive as per the Audited Balance Sheet of 31.03.2009 and accordingly company ceased to be a sick industrial unit as per the provision of Sick Industrial Company Act, 1985 (SICA). The Company is in the Process of Growing / Rehabilitation accordingly accounts have been prepared on "Going Concern Basis".

2. Investments :-

(a) National Saving Certificate of Rs. 20000/- (Previous Year Rs 20000/-) are lodged with Sales Tax Department and are held in the name of one of the Director of the Company.

(b) The Company holds unquoted shares in the form of Investments amounting of Rs. 6,00,000/- (P.Y. Rs. 6,00,000/-) which are considered good. In the opinion of the Management, no provision us made in accounts in respect of such investments.

(c) The Company holds 900000 unquoted equity shares at a total consideration of Rs. 360.00 Lacs of M/s Protect Nature Private Limited ("PNPL**) (97.26% Holding of "PNPL"). Pursuant to the said acquisitions, PNPL became subsidiaries of the Company.

(d) During the year, the Company has acquired 67200 Quoted equity shares at a total consideration of Rs. 23.32 Lacs of M/s Choksi Laboratories Limited.

3. The figures of the previous year have been re-groped and re-arranged as & where required.

4. In opinion of the Board of Directors and best of our knowledge and belief, the value on realization of Loans & Advances, Sundry Debtors and other current assets and long term loans & advances are in the ordinary course of business and will hot be less then the amount at which they are stated in the Balance Sheet.

5. In opinion of the Board of Directors and best of our knowledge and belief, the value on realization of Loans & Advances, Sundry Debtors and other current assets and long term loans & advances are considered good and the confirmation from such advances / assets are still awaited.

6. Traveling Exp., included exp. incurred by the Director of the company for the purpose of the business of the company

7. Related Party Disclosure: Director has certify that there were no transaction 'with Related Parties, as per Accounting Standard 18 on "Related Party Disclosure" issued by the Institute of Chartered Accountants Of India.

8. The Provision for Income Tax (MAT) has been made as per Income Tax Act. Deferred Tax Liability & Assets calculated as per AS-22 issued by ICAI.

9. Transaction related to MSME's : No Information has been reed. From suppliers towards their status being small scale/ancillary undertaking / MSME's.

10. Estimated amounts of contracts remaining to be executed on capital account and not provided for Rs. Nil (Previous Yeas Nil.)

11 None of the employees of the company were in receipt of remuneration in excess of limits specified under section 217(2A) of the Companies Act, 1956.

12 Previous year figures have been regrouped, reclassified and recast wherever considered necessary to make them comparable with current year figures.

13 In absence of proper information in respect of trade payables as to their status as Micro, Small and Medium enterprises as defined in the Micro, Small and Medium Enterprises Development Act, 2006, Company is not in a position to state information required.

14 Estimated amounts of contracts remaining to be executed on capital account and not provided for Rs. Nil (Previous Yeas Nil.)

15 Cash balance has not been verified at the end of accounting year and taken as certified by the management.

16 Retirement Benefits

Provision for Gratuity / Leave Encashment / Provident Fund / E.S.I.C. etc. are not Applicable to the company.

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Mar 31, 2013

1. The Company was declared a Sick Industrial Company on dated 18/10/2002 as per the provision of Sick Industrial Company Act, 1985 (SICA). Thereafter net worth of the company turned positive as per the Audited Balance Sheet of 31.03.2009 and accordingly company ceased to be a sick industrial unit as per the provision of Sick Industrial Company Act, 1985 (SICA). The Company is in the Process of Growing / Rehabilitation accordingly accounts have been prepared on ''Going Concern Basis''.

2. Investments :- (a) National Saving Certificate of Rs. 20000/- (Previous Year Rs 20000/-) are lodged with Sales Tax Department and are held in the name of one of the Director of the Company.

(b) The Company holds unquoted shares in the form of Investments amounting of Rs. 6,00,000/- (P.Y. Rs. 6,00,000/-) which are considered good. In the opinion of the Management, no provision us made in accounts in respect of such investments.

3. The figures of the previous year have been re-groped and re-arranged as & where required.

4. In opinion of the Board of Directors and best of our knowledge and belief, the value on realization of Loans & Advances, Sundry Debtors and other current assets and long term loans & advances are in the ordinary course of business and will not be less then the amount at which they are stated in the Balance Sheet.

5. In opinion of the Board of Directors and best of our knowledge and belief, the value on realization of Loans & Advances, Sundry Debtors and other current assets and long term loans & advances are considered good and the confirmation from such advances / assets are still awaited.

6. Traveling Exp., included exp. incurred by the Director of the company for the purpose of the business of the company

7. Related Party Disclosure: Director has certify that there were no transaction ‘with Related Parties, As per Accounting Standard 18 on ''Related Party Disclosure'' issued by the Institute of Chartered Accountants Of India. The Provision for Income Tax (MAT) has been made as per Income Tax Act. Deferred Tax Liability & Assets calculated as per AS-22 issued by ICAI.

8. Transaction related to MSME''s: No Information has been recd. From suppliers towards their status being small scale/ancillary undertaking / MSME''s.

9. Estimated amounts of contracts remaining to be executed on capital account and not provided for Rs. Nil (Previous Yeas Nil.)

10 The company has allotted 28,61,235 equity shares of Rs 10/- each with a premium of Rs. 30.50/- each, on December 28 , 2012, pursuant to the preferential issue of equity share. The shares have been listed with Bombay Stock Exchange Limited.

The shares so issued were authorized by the special resolution and Auditor''s certification has been obtained for the issue price.

Out of issue proceeds of Rs. 1158.80 Lacs, the company has given out of unutilized issue Proceeds of Rs 1046.21 Lacs have been temporarily held in Short Term Interest bearing liquid loans.

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Mar 31, 2012

I) Contingent Liabilities

a) Outstanding Capital Commitments: Rs. Nil (As certified by the Management.)

b) Other Contingent Liabilities: Rs. 22,937 in respect of ESIC demand. (As certified by the Management.)

ii) The Company was declared a Sick industrial Company on 18.10.2002 as per the provisions of Sick Industrial Companies Act, 1985 (SICA). Thereafter Net Worth of the Company turned positive as per the Audited Balance Sheet of 31.3.2009 and accordingly Company ceased to be a sick industrial unit as per the provisions of Sick Industrial Companies Act 1985 (SICA). The Company is in the process of Rehabilitation, these accounts have been prepared on "Going Concern Basis."

ii) Investments

a) National Savings Certificates for Rs. 20,000/- (Previous year Rs. 20,000/-) are lodged with Sales Tax Department and are held in the name of one of the Director of the Company.

b) The Company holds unquoted share investments amounting Rs.6,00,000/- ( Previous year Rs.6,00,000/-), which are considered good. No financial statement of the company is available. In the opinion of management, diminution in value of such investments is temporary. Hence, no Provision is made in accounts.

iii) In the case of Loans to Companies amounting to Rs. 6,50,000/- (previous year Rs. 6,50,000/-) are considered good and the confirmation from such Companies is still awaited.

iv ) No provision has been made in respect of doubtful advance of Rs. 20,00,000/- (previous year Rs. 20,00,000/-)

v) Advances, Sundry Debtors, Creditors are taken as per books awaiting their respective confirmations.

vi) In the opinion of the Board of Directors and to the best of their knowledge and belief the Current Assets, Loans and Advances are approximately of the value stated, if realized in the ordinary course of business.

vii)The company has accumulated losses and the Management is of the opinion that there is no possibility of tax liability on company in view of large accumulated losses. As such, no deferred tax liability is also worked out for the year as per AS-22.

viii) As the company is production of plastic film only AS-17 on segment Reporting is not applicable to the company.

ix) Related Party Transactions (AS-18)

Disclosure of transactions with related parties as required by Accounting Standard 18(AS-18), relating to Related Party Disclosure has been given in Para (b) & (c) below. Related parties as defined under clause 3 of the Accounting Standard have been identified on the basis of representation made by key managerial personnel and information available with the Company.

x) Earnings and Expenditure in Foreign Exchange Rs. Nil (Previous year Rs. Nil)

xi) In the opinion of board of directors, information/documents with the Company with respect to disclosures related to Micro, Small and Medium Enterprises Development Act, 2006, it has no information regarding the status of the service providers/suppliers as per the provisions of the said Act. In view of this, the above disclosure relating to the amount unpaid as at end of the year together with Interest paid/payable has not been given.

xii)The Financial Statement for the year ended 31st March, 2011 had been prepared as per the then applicable, pre-revised Schedule VI of the Companies Act, 1956. Consequent to the notification under the Companies Act, 1956, the Financial Statement for the year ended 31st March, 2012 are prepared under revised Schedule VI. Accordingly the previous year's figures have also been reclassified to conform to the year's classification.

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Mar 31, 2010

Contingent Liabilities & Notes.

1. Contingent Liabilities: -

i Outstanding Capital Commitments: Rs. 127,00,000 (As certified by the Management.)

ii. Other Contingent Liabilities: Rs. 22937/- in respect of ES1C demand. (As certified by the Management.)

2. The net worm of the Company had eroded whereby it had become a sick industrial unit in the year 2001 as per the provisions of Sick Industrial Companies Act, 1985 (SICA). The Company had accordingly made a reference to 6IFR and was declared a Sick industrial Company on 18.10.200X State Bank of India, Bhopal was appointed as an operating agency. The B1FR sanctioned Rehabilitation scheme on 4thFeb 2009.

The Net Worth of the Company turned positive as per the audited balance Sheet of 31.03.2009 and accordingly the Company ceased to be a sick industrial unit as per the provisions of Sick Industrial Companies Act, 1985 (SICA). The Company is in the process of Rehabilitation, these accounts have been prepared on "Going Concern Basis."

3. The Company sold a substantial part of its fixed assets including land and building. The profit and loss (net) on such sale amounting to Rs. 92,90,118 has been recognized in the books.

4. Investments:

i. National Savings Certificates for Rs 20,000 (Previous year Rs. 20,000) are lodged with Sales Tax Department and are held m the name of one of the Director of the Company.

ii. The Company holds unquoted share investments amounting Rs.19,00,000 (Previous year Rs. 23,00,000), which are considered good. No financial statements of these companies are available and in certain cases these companies have incurred losses. In the opinion of management, diminution in value of such investments is temporary. Hence, no Provision is made in accounts.

5. In the case of Loans to Companies amounting to Rs. 6,50,000 (previous year Rs. 630,000) are considered good and the confirmation from such Companies is still awaited.

6. Advances, Sundry Debtors, Creditors are taken as per books awaiting their respective confirmations.

7. In the opinion of the Board of Directors and to the best of their knowledge and belief the Current Assets, Loans and Advances are approximately of the value stated, if realized in the ordinary course of business.

8. The company has accumulated losses and the Management is of the opinion that there is no possibility of tax liability on company in view of large accumulated losses. As such, no deferred tax liability/asset is also worked out for the year as per AS-22.

9. The Company has not charged any depreciation on fixed assets disposed off during the year. Also no depreciation has been charged on remaining fixed assets amounting to Rs. 5,193, which would have reduced the profit by similar amount.

10. As the company is production of plastic film only AS-17 on segment Reporting is not applicable to the company.

11. Related Party Disclosure

Directors:

Shri Sudhir Lakhotia -Director

Shri R S Lakhotia -Director

Shri Anand Lakhotia -Director

Parties Where Control Exists Controlled by

Simplex Sales P Ltd. Sh. Sudhir Lakhotia

LA Plast Packs Pvt. Ltd. Sh. Sudhir Lakhotia

Gupta Lakhotia & Associates Sh. Anand Lakhotia

There are no transactions with Related Parties.

12 The Company has not provided for income tax liability (MAT) for the current year amounting to Rs. 10,80,000 as it has applied to Income Tax Department for waiver of MAT and is hopeful of getting relief from Income Tax Department.

13. Previous year figures have been regrouped/ rearranged, wherever necessary.

14. Additional information pursuant to the provision of Schedule VI to the Companies Act, 1956. (As Certified by the Management)

15. Information as required by Part IV of Schedule VI to the Companies Act, 1956.

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Mar 31, 2009

1. Contingent Liabilities: -

i. Outstanding Capital Commitments: Rs. Nil (As certified by the Management.)

ii. Other Contingent Liabilities. Rs. Nil (As certified by the Management.)

2. The net north of the Company has been eroded where by it has become a sick industrial unit as per the provisions of Sick Industrial Companies Act, 1985 (SlCA).The Company has accordingly made a reference to BIFR and has been declared a Sick industrial Company and an operating agency has been appointed Pending finalization/ approval of revival plan under BIFR proceedings, these accounts have been prepared on "Going Concern Basis."

3. In view of unstabilized operations, it was not possible for the Company to determine the recoverable/realizable amount of fixed assets and therefore impairment loss as per AS 28 could not be ascertained.

4. Investments:

i. National Savings Certificates for Rs 20,000/-{Previous year Rs. 20,000/-) are lodged with Sales Tax Department and are held in the name of one of the Director of the Company.

ii The Company holds unquoted share investments amounting Rs.23,00,000 ( Previous year

Rs 23.00.000).which are considered good. No financial statements of these companies arc available and in certain cases these companies have incurred losses. In the opinion of management, diminution in value of such investments is temporary Hence, no Provision is made in accounts

5. In the case of Loans to Companies amounting to Rs. 6,50,000 (previous year Rs. 6,50,000) are considered good and the confirmation from such Companies is still awaited.

6. Advances. Sundry Debtors. Creditors are taken as per books awaiting their respective confirmations

7. In the opinion of the Board of Directors and to the best of their knowledge and belief the Current Assets, Loans and Advances arc approximately of the value stated, if realized in the ordinary course of business.

8. The Company has repaid all outstanding dues of RIICO Ltd. according to the one time settlement (OTS). Accordingly, the excess liability towards interest payable on Term Loan has been written back in accounts.

9. The Company is in the process of implementing rehabilitation scheme as sanctioned and approved by Honble BIFR.

10. The company has accumulated losses and the Management is of the opinion that there is no possibility of tax liability on company in view of large accumulated losses. As such, no deferred tax liability is also worked out for the year as per AS-22.

11. As the company is production of plastic film only AS-17 on segment Reporting is not applicable to the company.

12. Related Party Disclosure

Directors

Shri Sudhir Lakhotia -Director

Shri R S Lakhotta -Director

Shri Anand Lakhotia -Director

Parties Where Control Exists Controlled by Simplex Sales P Ltd Sh. Sudhir Lakhotia

There are no transactions with Related Parties except for loans converted into equity from Sudhir Lakhotia (Rs 56.50,000). Alka Lakhotia ( Rs 1,50,000) & Simplex Sales P Ltd.(Rs 5,00,000)

13 Previous year figures have been regrouped/ rearranged, wherever necessary.

14. Additional information pursuant to the provision of Schedule VI to the Companies Act, 1956. (As Certified by the Management)

15 Information as required by Part IV of Schedule VI to the Companies Act, 1956.