అకౌంట్స్ గమనికలుSybly Industries Ltd.

Mar 31, 2025

Rights attached to Share

The Company has one class of equity shares having a par value of Rs.10 each. Each shareholder is eligible for one vote per share held.

12.2 No equity shares have been reserved for issue under options and contracts/ commitments for the sale of shares/ disinvestment as at the Balance Sheet date.

12.3 No equity shares have been bought back by the Company during the period of 5 years preceding the date as at which the Balance Sheet is prepared.

12.4 No securities convertible into equity shares have been issued by the Company during the year.

12.5 No calls are unpaid by any Director or Officer of the Company during the year.

Nature/ Purpose of each reserve

a) Securities Premium: The amount received in excess of face value of the equity shares is recognised in Securities Premium Reserve. This reserve is utilised in accordance with the provisions of the Companies Act 2013.

b) General Reserve: The reserve arises on transfer portion of the net profit to general reserve

c) Retained Earning: Generally represents the undistributed profit/amount of accumulated earnings of the company.

d) “Other Comprehensive Income (OCI) : Other Comprehensive Income (OCI) represents the balance in equity for items to be accounted under OCI and comprises of the following:

i) Equity Instruments through OCI: The Company has elected to recognise changes in the fair value of certain investment in equity instrument in other comprehensive income.

ii) Remeasurement of defined benefit obligations: The actuarial gains and losses arising on defined benefit obligations have been recognised in OCI. The amount is subsequently transferred to retained earnings as per the Schedule III requirement.

There is no significant financing component in any transaction with the customers. The Company does not have any remaining performance obligation as contracts entered for sale of goods are for a shorter duration. All contracts entered by the company are Fixed-price contracts.

26	Contingent Liabilities & Commitment to the extent not provided for:
26.1	Contingent Liabilities		pin Lakhs)
	Particulars	31st March 2025	31st March 2024
	(A) Contigent Liabilities
	Total

28 Segment Reporting

Operating segments are defined as components of an enterprise for which discrete financial information is available that is evaluated regularly by the Chief Operating Decision Maker, in deciding how to allocate resources and assessing performance. Operating segments are reported in a manner consistent with the internal reporting provided to the chief operating decision maker. Based on the management approach as defined in Ind AS 108, the Chief Operating Decision Maker evaluates the Company''s performance based on only one segment i.e. Trading of shares and Securities,

30 3 The management assessed that the fair values of cash and cash equivalents, trade receivables, trade payables, current borrowings, current loans and '' other financial assets & liabilities approximates their carrying amounts largely due to the short-term maturities of these instruments.

30 4 The management considers that the carrying amounts of Financial assets and Financial liabilities recognized at nominal cost/amortised cost in the '' Financial statements approximate their fair values.

Non current borrowings has been contracted at floating rates of interest, which are reset at short intervals. Fair value of floating interest rate borrowings '' approximates their carrying value subject to adjustments made for transaction cost.

31 Financial Risk Management

Financial management of the Company has been receiving attention of the top management of the Company. The management considers finance as the lifeline of the business and therefore, financial management is carried out meticulously on the basis of detailed management information systems and reports at periodical intervals extending from daily reports to long-term plans. Importance is laid on liquidity and working capital management with a view to reduce over-dependence on borrowings and reduction in interest cost. Various kinds of financial risks and their mitigation plans are as follows:

31.2 Credit Risk

The credit risk is the risk of financial loss arising from counter party failing to discharge an obligation. The credit risk is controlled by analysing credit limits and credit duration for customers on continuous basis. Further, in order to manage the credit risk, the security deposits are obtained from customers where ever considered necessary.

On account of adoption of Ind AS 109, the Company uses an expected credit loss model to assess the impairment loss. The Company uses a provision matrix to compute the expected credit loss allowance for trade receivables.

31.3 Liquidity Risk

The Company determines its liquidity requirement in the short, medium and long term. This is done by drawing up cash forecast for short term and long term needs.

The Company manage its liquidity risk in a manner so as to meet its normal financial obligations without any significant delay or stress. Such risk is managed through ensuring operational cash flow while at the same time maintaining adequate cash and cash equivalent position. The management has arranged for funding from banks and inter corporate and adopted a policy of managing assets with liquidity monitoring future cash flow and liquidity on a regular basis. Surplus funds not immediately required are invested in certain fixed deposits which provides flexibility to liquidate.

Note: The amounts are gross and undiscounted, and include contractual interest payments and exclude the impact of netting agreements (if any). The interest payments on variable interest rate loans in the tables above reflect market forward interest rates at the respective reporting dates and these amounts may change as market interest rates change. Except for these financial liabilities, it is not expected that cash flows included in the maturity analysis could occur significantly earlier, or at significantly different amounts. When the amount payable is not fixed, the amount disclosed has been determined with reference to conditions existing at the reporting date.

31.4 Market Risk

Market risk is the risk that the fair value or future cash flows of a financial instrument will fluctuate because of changes in market prices. Market risk comprises of Foreign Exchange Risk and Interest Rate Risk.

Foreign Exchange Risk

Foreign Exchange Risk is the exposure of the Company to the potential impact of the movement in foreign exchange rate. The Company does not have any material foreign currency exposure at the balance sheet date.

Interest Rate Risk

Interest rate risk is the risk that the fair value or future cash flows of a financial instrument will fluctuate because of changes in market rates. The company''s exposure to the risk of changes in market interest rate relates primarily to company''s borrowing with floating interest rates. The Company do not have any significant interest rate risk on its current borrowing due to their short tenure.

The Company is also exposed to interest rate risk on surplus funds parked in loans. To manage such risks, such loans are granted for short durations with fixed interest rate in line with the expected business requirements for such funds.

32 Capital Management

The Company objective to manage its capital is to ensure continuity of business while at the same time provide reasonable returns to its various stakeholders but keep associated costs under control. In order to achieve this, requirement of capital is reviewed periodically with reference to operating and business plans that take into account capital expenditure and strategic investments. Sourcing of capital is done through judicious combination of equity/internal accruals and borrowings, both short term and long term. Net debt (total borrowings less cash and cash equivalents) to equity ratio is used to monitor capital.

34.1 ADDITIONAL REGULATORY REQUIREMENTS SCHEDULE III:

34.2 The Company do not have any Benami property, and does not have any proceeding initiated or pending for holding any Benami property under Benami Transactions (Prohibition) Act 1988, (45 of 1988).

34.3 The Company do not have any charges or satisfaction which is yet to be registered with ROC beyond the statutory period.

34.4 The Company have not traded or invested in crypto currency or virtual currency during the financial year.

34.5 The Company have 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.

34.6 The Company have 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 Group 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,

^ The Company have not any such transaction 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 or survey or any other relevant provisions of the Income Tax Act, 1961“.

34.8 The Company has not been declared as a wilful defaulter by any bank or financial institution or other lender in accordance with the guidelines on wilful defaulters issued by the Reserve Bank of India.

34.9 The Company does not have any transactions with Companies which are struck off.

35 Previous year figures have been reclassified/regrouped to confirm the presentation requirements and the requirements laid down in Division-I of the Schedule-III of the Companies Act, 2013.

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Mar 31, 2024

(h) Provisions

A provision is recognized if, as a result of a past event, the Company has a present legal or constructive
obligation that can be estimated reliably, and it is probable that an outflow of economic benefits will be
required to settle the obligation. Provisions are determined by discounting the expected future cash
flows at a pre-tax rate that reflects current market assessments of the time value of money and the risks
specific to the liability.

Product warranty expenses: The estimated liability for product warranties is recorded when products are
sold. These estimates are established using historical information on the nature, frequency and average
cost of warranty claims and management estimates regarding possible future incidences based on
actions on product failures. The timing of outflows will vary as and when warranty claim will arise,
being typically up to four years.

(i) Foreign Currency

Transactions in foreign currencies are recorded at the exchange rate prevailing on the date of
transaction. Foreign currency denominated monetary assets and liabilities are re-measured into the
functional currency at the exchange rate prevailing on the balance sheet date.

Exchange differences are recognized in the Statement of Profit and Loss except to the extent, exchange
differences which are regarded as an adjustment to interest costs on foreign currency borrowings, are
capitalized as part of borrowing costs.

(j) Income Taxes

Income tax expense comprises current and deferred taxes. Income tax expense is recognized in the
Statement of Profit and Loss except when they relate to items that are recognized outside profit or loss
(whether in other comprehensive income or directly in equity), in which case tax is also recognized
outside profit or loss. Current income taxes are determined based on respective taxable income of
taxable entity.

Deferred tax assets and liabilities are recognized for the future tax consequences of temporary
differences between the carrying values of assets and liabilities and their respective tax bases, and
unutilized business loss and depreciation carry-forwards and tax credits. Such deferred tax assets and
liabilities are computed for the taxable entity. Deferred tax assets are recognized to the extent that it is
probable that future taxable income will be available against which the deductible temporary
differences, unused tax losses, depreciation carry-forwards and unused tax credits could be utilized.

Deferred tax assets and liabilities are measured based on the tax rates that are expected to apply in the
period when the asset is realized or the liability is settled, based on tax rates and tax laws that have been
enacted or substantively enacted by the balance sheet date.

Deferred tax assets and liabilities are offset when there is a legally enforceable right to set off current
tax assets against current tax liabilities and when they relate to income taxes levied by the same taxation
authority and the Company intends to settle its current tax assets and liabilities on a net basis.

(k) Earnings Per Share

Basic earnings per share has been computed by dividing profit/loss for the year by the weighted average
number of shares outstanding during the year.

Partly paid up shares are included as fully paid equivalents according to the fraction paid up. Diluted
earnings per share has been computed using the weighted average number of shares and dilutive
potential shares, except where the result would be anti-dilutive.

(l) Employee Benefits
i) Gratuity

Sybly Industries Limited have an obligation towards gratuity, a defined benefit retirement plan covering
eligible employees. The plan provides for a lump-sum payment to vested employees at retirement, death

while in employment or on termination of employment of an amount equivalent to 15 to 30 days salary
payable for each completed year of service. Vesting occurs upon completion of five years of service.

ii) Provident Fund and ESI

In accordance with Indian law, eligible employees of Sybly Industries Limited are entitled to receive
benefits in respect of provident fund and ESI, a defined contribution plan, in which both employees and
the Company make monthly contributions at a specified percentage of the covered employees’ salary.
The contributions, as specified under the law, are made to the provident fund and pension fund set up.

(m) Dividends

Any dividend declared or paid by Sybly Industries Limited for any financial year is based on the profits
available for distribution as reported in the statutory financial statements of Sybly Industries Limited
(Standalone) prepared in accordance with Generally Accepted Accounting Principles in India, or Indian
GAAP or Ind AS. Indian law permits the declaration and payment of dividend out of profits for the year
or previous financial year(s) as stated in the statutory financial statements of Sybly Industries Limited
(Standalone) prepared in accordance with Generally Accepted Accounting Principles in India, or Indian
GAAP or Ind AS after providing for depreciation in accordance with the provisions of Schedule II to the
Companies Act. However, in the absence of inadequacy of the said profits, it may declare dividend out
of free reserves, subject to certain conditions as prescribed under the Companies (Declaration and
payment of Dividend) Rules, 2014. Accordingly, in certain years the net income reported in these
financial statements may not be fully distributable.

(n) Segments

The company is engaged in business of manufacturing & trading of yarn and Fabrics, which is in same
business segment.

(o) Investments in Subsidiaries, Joint Ventures and Associates

Investments in Subsidiaries, Joint Ventures and Associates are measured at cost as per Ind AS 27 -
Separate Financial Statements. However, company has no Subsidiary, Joint Venture and Associates.

31.1. Confirmation of balances from some of parties appearing under the head current liabilities, sundry debtors,
loans and advances are awaited.

31.2. Company has revalued its Fixed Assets namely Land and Building on 31.03.2004. The value of aforesaid
assets has increased by Rs.590 Lakh as per Valuation Report dt.31.03.2004 from a qualified & authorized
firm of Engineers M/s. Universal Consultants, Meerut. The aforesaid amount has been credited to
Revaluation Reserve Account. During the year, Revaluation Reserve has also been reduced during the year
by Rs. 84.95 Lakh and has been brought to zero as all the land and building has been sold during the year.

31.3. The cost records for the financial year -2023 are under preparation and till the date of this Balance Sheet, the
same could not be finalized.

31.7. The company is in severe financial stress and on the basis of the financial ratios, doubtful about realisation of
financial assets including debtors, in the opinion of the Board of Directors, the company may not be capable
of meeting its liabilities existing at the date of balance sheet.

31.8. Company had written off 352.32 lakhs of its old unrealizable debtors and 15.60 lakhs of creditors resulting
net Rs. 336.72 lakh, which is debited to profit and loss account under the head Exceptional item.

31.9. During the year company had made a slump scrap sale of remaining fixed assets of the company and
impairment of fixed assets is debited under the head Exceptional item.

31.10. There is an Exceptional Loss of Rs.371.69 lakh. Accordingly, the Profits & EPS for the year do not reflect
the true figures.

Note : During the year company had not done any commercial activity while company had made a slump scrap
sale of remaining fixed assets of the company and impairment of fixed assets is debited under the head
Exceptional item due to these factors, the ratios may not accurately reflect the true state of the business and
have become incomparable in the present context.

31.21. There is no proceeding initiated or pending under the Benami Transactions (Prohibition) Act, 1988 for the
Benami Properties.

31.22. There are no working capital advances /loans from any bank or financial institution and company does not
hold any inventory.

31.23. Company has not revalued its Property Plant and Equipments (PPE) and Capital Work in Progress (CWIP)
during the year.

31.24. The company is not declared as a wilful defaulter by any bank or financial Institution.

31.25. The Company does not have any relationship with any struck off company.

31.26. Company does not own any immovable property as on 31st March, 2024.

31.27. Since the company does not hold any investments in other companies, it is not subject to the provisions
related to the number of layers as prescribed under clause (87) of section 2 of the Act read with Companies
(Restriction on number of Layers) Rules, 2017.

31.28. There is no pending registration of charges or pending satisfaction of charge with Registrar of Companies
(ROC) beyond statutory limits.

31.29. The Company has not undertaken any Scheme of the arrangement during the year.

31.30. The Company has not borrowed any funds from Bank/NBFCs, and its share are issued at face value and
therefore there is no share premium.

31.31. The Company has not surrendered or disclosed any transaction, as “not” recorded in the accounts, as income
in the tax assessment during the year.

31.32. Being company is loss, Corporate Social Responsibility (CSR) is not applicable to the company as per
section 135(1) of the Companies Act, 2013.

31.33. Company does not hold or transact in any Crypto Currency or Virtual Currency

31.34. There are no intangible assets under development in the company.

By the order of the Board

FOR SYBLY INDUSTRIES LIMITED

SD/ SD/

(MAHESH CHAND MITTAL) (RAMESH CHANDRA SHARMA)

Managing Director Director

(DIN : 00284866) (DIN : 00284981)

Flat No.603, OC-2, Orange County, 18, Vinay Park, Govind Puri,

Ahinsa Khand-1, Indirapuram, Modinagar, Ghaziabad - 201204 (U.P.)

Ghaziabad - 201014 (U.P.)

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Mar 31, 2015

A. Confirmation of balances from some of parties appearing under the head current liabilities, sundry debtors, loans and advances are awaited

B. Previous year adjustments of Rs. 48,773/- include Rs.5,827/- paid for Sales Tax demand for the Assessment Year 2010-11; Rs.3,101/- paid for Service Charges 2013-14, Rs. 14,510/- paid for License Renewal Fee of 2013-14 & VAT Credits of Rs. 25,335/- has been written off due to VAT exemption.

C. Company has revalued its Fixed Assets namely Land and Building on 31.03.2004. The value of aforesaid assets has increased by Rs.5,90,00,625.42 as per Valuation Report dt.31.03.2004 from a qualified & authorized firm of Engineers M/s.Universal Consultants, Meerut. The aforesaid amount has been credited to Revaluation Reserve Account. Further, during the year, same has been reduced by equivalent amount of depreciation charged on this revalued amount.

D. The bifurcation of the total outstanding dues of small scale industrial undertakings and other than small scale industrial undertakings as well as the name of the small scale industrial, undertakings to whom the company owes a sum of exceeding rupees one lacs and which is outstanding for more than thirty days, are not disclosed in the Balance Sheet as suppliers have not indicated their status on their documents/papers whether they are small scale undertakings or not hence it is not possible for the company to disclose the said information in respect of trade creditors.

E. The cost records for the financial year 2014-2015 are still under preparation and till the date of this Balance Sheet, the same could not be finalized.

F. The company has valued the stock of finished goods at lower of cost or realizable value in terms of AS-2. Earlier the company was valuing the stock at realizable value.

G. The company has adopted Schedule II to the Companies Act, 2013, for depreciation purposes, from 1 April 2014. The company was previously not identifying components of fixed assets separately for depreciation purposes; rather, a single useful life/ depreciation rate was used to depreciate each item of fixed asset. Due to application of Schedule II to the Companies Act, 2013, the company has changed the manner of depreciation for its fixed assets. Now, the company identifies and determines separate useful life for each major component of the fixed asset, if they have useful life that is materially different from that of the remaining asset. The company has used transitional provisions of Schedule II to adjust the impact of component accounting arising on its first application. The carrying amount of components whose remaining useful life is not nil on 1 April 2015, is depreciated over their remaining useful life.

H. In the opinion of the Board of Directors, the current assets, loans and advances are approximately of the value stated if realised in the ordinary course of business and the provision for all known liabilities is adequate and not in excess of the amount reasonably necessary.

I. Managerial Remuneration :

Managerial remuneration has been paid within the limits specified by Schedule V of the Companies Act, 2013. Computation of Net Profit u/s 198 of the Act is not given in view of there being no commission payable to any director. The details of managerial remuneration paid under Section 197 of the Companies Act, 2013 are as under:

J. During the current year no dividend is proposed to be paid hence not provided for.

K. Particulars of Capacity, Production, Turnover and Stock for manufacturing Activities:

L. Disclosures in respect of related party as defined in Accounting Standard 18, with whom transactions were carried out in the ordinary course of Business during the year as given below:-

Related party disclosures

a. List of related parties

i. Subsidiaries

- Sybly International FZE

ii. Key Management Personnel

- Mr. Mahesh Chand Mittal

- Mr. Nishant Mittal

iii. Relatives of Key Management Personnel

- Mrs. Suman Mittal

- Mrs. Parul Mittal

- Mrs. Rashi Mittal

- Mrs. Shikha Mittal

- Mr. Satya Prakash Mittal

- Mr. Umesh Kumar Mittal

- Sybly Techno Fibres Limited (Common KMP Mr. M.C.Mittal & Mr. Nishant Mittal)

- Vartex Fabrics (P) Ltd. (Common KMP Mr. M.C. Mittal)

- Dux Textiles (P) Ltd. (Common KMP Mr. Nishant Mittal)

M. In the opinion of the Board of Directors, the current assets, loans and advances are approximately of the value stated if realised in the ordinary course of business and the provisions for all known liabilities is adequate and not in excess of amount reasonably necessary.

N. Previous Year's figures have been rearranged regrouped wherever necessary.

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Mar 31, 2014

Nature of Security and terms of repayments for Long Term secured borrowings :

Nature of Security

i Term Loan from BMW India Financial Services (P) Ltd. for Car amounting to Rs. 21.00 lacs (March 31, 2014 Rs.7.05 lacs) is secured by way of Hypothecation of Vehicle.

Terms of Repayment

Repayable in 36 monthly installments commencing from April-12. Last installment due in February-15. Rate of interest 10.23%.p.a. as at year end.

Nature of Long Term Unsecured borrowings :

The Unsecured Loans have been taken from Directors / Promoters & their relatives. These Unsecured Loans have been taken in the condition imposed by the financial institution for bringing the adequate margins. These unsecured loans will not be repaid without the permission of the financial institution. During the year some of unsecured loans are repaid and in place of them fresh are taken. However, the overall quantum of the unsecured loans were within the adequate margins as stipulated by the financial institution. The company is of the opinion that these are well within the provision of Section 58A of the Companies Act, 1956 as the same are accepted in pursuance of stipulations of financial institutions.

NOTE - 19 CONTINGENT LIABILITIES AND COMMITMENTS (TO THE EXTENT NOT PROVIDED FOR) A Contingent Liabilities

(a) Claims against the company not acknowledged as debts NIL

(b) Guarantees NIL

(c) Other money for which company is contingently liable:

(i) The Income Tax assessments of the Company is pending for the assessment year 2012-2013 and 2013-14. However the Company does not envisage any liability in respect thereof. The Company''s Appeals for assessment year 1998- 99 & 2001-02 are pending before the Income Tax Appellate Tribunal but the Company does not envisage any liability and expect full relief in the appeal.

(ii) The Trade Tax assessments of the Company for the assessment years 2011-2012, 2012-2013 and 2013-14 are pending but the Company does not envisage any liability for these years other than what has been paid or provided.

(iii) A demand of Rs. 8,51,135.34 has been raised by The Maharashtra State Co-op. Cotton Growers Marketing Federation Ltd., Mumbai after adjusting advance of Rs. 19,07,422.31, deposited by Company, for purchase of Cotton. However, the Company did not purchase such Cotton, The Maharashtra State Co-op. Cotton Growers Marketing Federation Ltd., Mumbai raised dispute, which is pending in litigation before the Court of Law.

(d) Bills discounted with banks NIL

Note - 29 Additional Information to the financial statements

A. Confirmation of balances from some of parties appearing under the head current liabilities, sundry debtors, loans and advances are awaited

B. Previous year adjustments of Rs. 2,53,785/- include Rs.2,45,770/- paid for Sales Tax demand for the Assessment Year 2009-10; Rs.8,015/- paid for Professional Charges 2011-12.

C. Company has revalued its Fixed Assets namely Land and Building on 31.03.2004. The value of aforesaid assets has increased by Rs.5,90,00,625.42 as per Valuation Report dt.31.03.2004 from a qualified & authorized firm of Engineers M/s.Universal Consultants, Meerut. The aforesaid amount has been credited to Revaluation Reserve Account. Further, during the year, same has been reduced by equivalent amount of depreciation charged on this revalued amount.

D. The bifurcation of the total outstanding dues of small scale industrial undertakings and other than small scale industrial undertakings as well as the name of the small scale industrial, undertakings to whom the company owes a sum of exceeding rupees one lacs and which is outstanding for more than thirty days, are not disclosed in the Balance Sheet as suppliers have not indicated their status on their documents/papers whether they are small scale undertakings or not hence it is not possible for the company to disclose the said information in respect of trade creditors.

E. The cost records for the financial year 2013-2014 are still under preparation and till the date of this Balance Sheet, the same could not be finalized.

F. In the opinion of the Board of Directors, the current assets, loans and advances are approximately of the value stated if realised in the ordinary course of business and the provision for all known liabilities is adequate and not in excess of the amount reasonably necessary.

G. Managerial Remuneration :

Managerial remuneration has been paid within the limits specified by Schedule XIII of the Companies Act, 1956. Computation of Net Profit u/s 349 of the Act is not given in view of there being no commission payable to any director. The details of managerial remuneration paid under Section 198 of the Companies Act, 1956 are as under:

H. During the current year no dividend is proposed to be paid hence not provided for.

M. Disclosures in respect of related party as defined in Accounting Standard 18, with whom transactions were carried out in the ordinary course of Business during the year as given below:-

Related party disclosures a. List of related parties

i. Subsidiaries

- Sybly International FZE ii. Key Management Personnel

- Mr. Mahesh Chand Mittal

- Mr. Satya Prakash Mittal

- Mr. Nishant Mittal

iii. Relatives of Key Management Personnel

- Mrs. Suman Mittal

- Mrs. Parul Mittal

- Mrs. Rashi Mittal

- Mrs. Shikha Mittal

- Sybly Techno Fibres Limited (Common KMP Shri M.C.Mittal)

- Vartex Fabrics (P) Ltd. (Common KMP Shri M.C. Mittal)

- Dux Textiles (P) Ltd. (Common KMP Shri Nishant Mittal)

N. In the opinion of the Board of Directors, the current assets, loans and advances are approximately of the value stated if realised in the ordinary course of business and the provisions for all known liabilities is adequate and not in excess of amount reasonably necessary.

O. Previous Year''s figures have been rearranged regrouped wherever necessary.

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Mar 31, 2013

A. Confirmation of balances from some of parties appearing under the head current liabilities, sundry debtors, loans and advances are awaited

B. Previous year adjustments of Rs. 18,263/- include Rs.12,982/- paid for Entry Tax demand & interest thereon for the Assessment Year 2008-09; Rs.5,281/- paid for Entry Tax demand & interest thereon for the Assessment Year 2009-10.

C. Company has revalued its Fixed Assets namely Land and Building on 31.03.2004. The value of aforesaid assets has increased by Rs.5,90,00,625.42 as per Valuation Report dt.31.03.2004 from a qualified & authorized firm of Engineers M/s.Universal Consultants, Meerut. The aforesaid amount has been credited to Revaluation Reserve Account. Further, during the year, same has been reduced by equivalent amount of depreciation charged on this revalued amount.

D. The bifurcation of the total outstanding dues of small scale industrial undertakings and other than small scale industrial undertakings as well as the name of the small scale industrial, undertakings to whom the company owes a sum of exceeding rupees one lacs and which is outstanding for more than thirty days, are not disclosed in the Balance Sheet as suppliers have not indicated their status on their documents/papers whether they are small scale undertakings or not hence it is not possible for the company to disclose the said information in respect of trade creditors.

E. The cost records for the financial year 2012-2013 are still under preparation and till the date of this Balance Sheet, the same could not be finalized.

F. In the opinion of the Board of Directors, the current assets, loans and advances are approximately of the value stated if realised in the ordinary course of business and the provision for all known liabilities is adequate and not in excess of the amount reasonably necessary.

G. Managerial Remuneration :

Managerial remuneration has been paid within the limits specified by Schedule XIII of the Companies Act, 1956. Computation of Net Profit u/s 349 of the Act is not given in view of there being no commission payable to any director. The details of managerial remuneration paid under Section 198 of the Companies Act, 1956 are as under:

H. During the current year no dividend is proposed to be paid hence not provided for.

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Mar 31, 2012

Nature of Long Term Unsecured borrowings :

The Unsecured Loans have been taken from Directors / Promoters & their relatives. These Unsecured Loans have been taken in the condition imposed by the financial institution for bringing the adequate margins. These unsecured loans will not be repaid without the permission of the financial institution. During the year some of unsecured loan are repaid and in place of them fresh are taken. However, the overall quantum of the unsecured loans were within the adequate margins as stipulated by the financial institution. The company is of the opinion that these are well within the provision of Section 58A of the Companies Act, 1956 as the same are accepted in pursuance of stipulations of financial institutions.

NOTE - 1 CONTINGENT LIABILITIES AND COMMITMENTS (TO THE EXTENT NOT PROVIDED FOR)

A Contingent Liabilities

(a) Claims against the company not acknowledged as debts ------NIL------

(b) Guarantees -------NIL------

(c) Other money for which company is contingently liable:

(i) The Income Tax assessments of the Company is pending for the assessment year 2010-2011 and 2011-12. However the Company does not envisage any liability in respect thereof. The Company's Appeals for assessment year 1998-99 & 2001-02 are pending before the Income Tax Appellate Tribunal but the Company does not envisage any liability and expect full relief in the appeal.

(ii) The Trade Tax assessments of the Company for the assessment years 2009-2010, 2010-2011 and 2011-12 are pending but the Company does not envisage any liability for these years other than what has been paid or provided.

(iii)A demand of Rs. 8,51,135.34 has been raised by The Maharashtra State Co-op. Cotton Growers Marketing Federation Ltd., Mumbai after adjusting advance of Rs. 19,07,422.31, deposited by Company, for purchase of Cotton. However, the Company did not purchase such Cotton, The Maharashtra State Co-op. Cotton Growers Marketing Federation Ltd., Mumbai raised dispute, which is pending in litigation before the Court of Law.

(d) Bills discounted with banks -------NIL-------

B Commitment

(a Estimated amount of contracts remaining to be executed Order Value Rs. 400 Lacs, balance on capital account and not provided for unpaid is Rs. 358.30 Lacs

Note - 2 Additional Information to the financial statements

A. Confirmation of balances from some of parties appearing under the head current liabilities, sundry debtors, loans and advances are awaited

B. Previous year adjustments of Rs. 5,82,318/- include Rs.3,000/- paid for Sales Tax demand & interest thereon for the Assessment Year 2006-07; Rs.4,21,759/- paid for Sales Tax demand & interest thereon for the Assessment Year 2008-09; Rs.1,57,559/- paid for outstanding Freight & Cartage as charged by the Consignment Agents.

C. Company has revalued its Fixed Assets namely Land and Building on 31.03.2004. The value of aforesaid assets has increased by Rs.5,90,00,625.42 as per Valuation Report dt.31.03.2004 from a qualified & authorized firm of Engineers M/s.Universal Consultants, Meerut. The aforesaid amount has been credited to Revaluation Reserve Account. Further, during the year, same has been reduced by equivalent amount of depreciation charged on this revalued amount.

D. The bifurcation of the total outstanding dues of small scale industrial undertakings and other than small scale industrial undertakings as well as the name of the small scale industrial, undertakings to whom the company owes a sum of exceeding rupees one lacs and which is outstanding for more than thirty days, are not disclosed in the Balance Sheet as suppliers have not indicated their status on their documents/papers whether they are small scale undertakings or not hence it is not possible for the company to disclose the said information in respect of trade creditors.

E. The cost records for the financial year 2011-2012 are still under preparation and till the date of this Balance Sheet, the same could not be finalized.

F. In the opinion of the Board of Directors, the current assets, loans and advances are approximately of the value stated if realised in the ordinary course of business and the provision for all known liabilities is adequate and not in excess of the amount reasonably necessary.

G. Managerial Remuneration :

Managerial remuneration has been paid within the limits specified by Schedule XIII of the Companies Act, 1956. Computation of Net Profit u/s 349 of the Act is not given in view of there being no commission payable to any director. The details of managerial remuneration paid under Section 198 ofthe Companies Act, 1956 are as under:

H. During the current year no dividend is proposed to be paid hence not provided for.

I. Disclosures in respect of related party as defined in Accounting Standard 18, with whom transactions were carried out in the ordinary course of Business during the year as given below:-

Related party disclosures a. List of related parties

i. Subsidiaries

- Sybly International FZE

ii. Key Management Personnel

- Mr. Mahesh Chand Mittal

- Mr. Satya Prakash Mittal

iii. Relatives of Key Management Personnel

- Mrs. Suman Mittal

- Mr. Nishant Mittal

- Mrs. Parul Mittal

- Mahesh Chand Mittal HUF

- Sybly Threads Limited

- Vartex Fabrics (P) Ltd. (Common KMP Shri M.C. Mittal)

- Dux Textiles (P) Ltd.

J. In the opinion of the Board of Directors, the current assets, loans and advances are approximately of the value stated if realised in the ordinary course of business and the provisions for all known liabilities is adequate and not in excess of amount reasonably necessary.

K. During the year Company entered in to an agreement with M/s.Kush Technologies P. Ltd. for purchase of 30,000 SQ. Yards Residential land at Dharuhera, Haryana. For this transaction Company paid Rs. 15,00,000/- as Advance money in cash but contract was breached by Kush Technologies P. Ltd. and for breach of contract Arbitrater finalized the claim amount of Rs.3,30,00,000/-(including Rs.15,00,000/- Advance money) which has been paid by Kush technologies Pvt. Ltd. This amount is treated as Extraordinary Income as disclosed in Note No. 28.

L. Previous Years figures have been rearranged and regrouped wherever necessary.

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Mar 31, 2010

1. Contingent Liabilities:

(i) The Income Tax assessments of the Company is pending for the assessment year 2008-20Q9 and 2009-2010. However the Company does not envisage any liability in respect thereof. The Companys Appeals for assessment year 1998-99 & 2001-02 are pending before the Income Tax Appellate Tribunal but the Company does not envisage any liability and expect full relief in the appeal.

(ii) The Trade Tax assessments of the Company for the assessment years 2008-2009 and 2009-2010 are pending but the Company does not envisage any liability for these years other than what has been paid or provided.

(iii) Estimated amount of Contracts remaining to be executed on capital account and not provided for Rs. 45.00 Lacs (previous year Rs. 51.00 Lacs)

(iv) A demand of Rs. 8,51,135.34 has been raised by The Maharashtra State Co-op. Cotton Growers Marketing Federation Ltd., Mumbai after adjusting advance of Rs. 19,07,422.31, deposited by us, for purchase of Cotton. However, the Company did not purchase such Cotton. The Maharashtra State Co-op. Cotton Growers Marketing Federation Ltd., Mumbai raised dispute, which is pending in litigation before the Court of Law.

2. Secured Loans: (i) Term Loans:

(a) From Bank of Baroda amounting to Rs. 289.70 lacs, (Previous Year Rs. 407.92 lacs) are secured by way of exclusive charge over gross block of the Company excluding vehicles financed by other banks and also secured by way of exclusive charge over all Current Assets of the company alongwith personal guarantees of the Promoter directors & their relatives. (Repayable within one year Rs. 112.00 lacs).

(b) From ICICI Bank amounting to Rs. NIL (Previous year 5.61 lacs) were secured by way of hypothecation of vehicles. (Repayable Within one year Rs. NIL).

(c) From HDFC Bank amounting to Rs. 4.05 lacs (Previous year NIL) were secured by way of hypothecation of vehicles. (Repayable within one year Rs. 1.73 lacs).

(ii) Working Capital Loans:

Total Working Capital limits from Bank of Baroda as on 31.03.2010 Rs. 1214.22 lacs (Previous year Rs. 1211.00 lacs) are secured by way of exclusive charge over gross block of the Company excluding vehicles financed by other banks and also secured by way of exclusive charge over all Current Assets of the company alongwith personal guarantees of the Promoter directors & their relatives.

3. Unsecured loans:

The Unsecured Loans from others have been taken from the family members and relative of directors out of which loans from directors are amounting to Rs. 76.55 lacs. These unsecured loans have been taken in the condition imposed by the financial institution for bringing the adequate margins. These unsecured loans will not be repaid without the permission of the financial institution. During the year some of unsecured loans are repaid and in place of them fresh unsecured loans are taken. However, the overall quantum of the unsecured loans was within the adequate margins as stipulated by the financial Institution. The company is of the opinion that these are well within the provisions of Section 5 8 A of the Companies Act, 1956 as the same are accepted in pursuance of stipulations of financial institutions.

4. Confirmation of balances from some of parties appearing under the head current liabilities, sundry debtors, loans and advances are awaited.

5. In accordance with the Accounting Standard 22 "Accounting for Taxes on Income" (AS-22) issued by the ICAI, the company has accounted for deferred taxes during the year. The tax provision for the current year includes Rs. 1,27,84,400/- for deferred tax assets. The component of deferred tax assets is the sum of tax of Rs. 1,01,17,766/- on unabsorbed depreciation and carry forward losses and Rs. 26,66,634/- being tax on difference between depreciation charged/chargeable in books and claim of depreciation under Income Tax Act.

6. The Company has adopted the policy to account for the interest to trade Creditors on final settlement with them.

7. Previous year adjustments of Rs. 9,48,602/- include Rs.7,74,425/- on account of Freight & Cartage charged by the Consignment Agents; Rs.24,704/- paid for Sales Tax demand & interest thereon for the Assessment Year 2005-06; Rs.88,058/- written off as non recoverable deposits; Rs. 28,103/- paid for Income Tax demand for the A.Y. 2006-07; and Rs.33,312/- paid for Income Tax demand for the A.Y. 2007-08.

8. Other Income includes interest of Rs. 117.76 lacs accrued on Fixed Deposits made out of GDR Issue with EURAM Bank in Austria.

9. Company has revalued its Fixed Assets namely Land and Building on 31.03.2004. The value of aforesaid assets has increased by Rs.5,90,00,625.42 as per Valuation Report dt.31.03.2004 from a qualified & authorized firm of Engineers M/s.Universal Consultants, Meerut. The aforesaid amount has been credited to Revaluation Reserve Account. Further, during the year, same has been reduced by equivalent amount of depreciation charged on this revalued amount.

10. During the year company has promoted a fully owned subsidiary foreign company under the name and style as "Sybly International FZE, Sharjah (U.A.E.)" with an equity investment of Rs. 4,28,750/-. Company has also made advance of Rs. 33,64,20,230/- to this WOS in 100% utilization of the proceeds of GDR issue. Company has sold 4,10,000 shares of Vartex Fabrics Pvt. Ltd. For Rs. 2,13,20,000/- on which Company earned gain of Rs. 1,72,200/- which resulted that M/s Vartex Fabrics Private Limited now ceased to be a subsidiary company.

11. During the year share application money in Vishwanath Paper & Board Ltd. has been converted in investment on allotment of Equity Shares of Rs. 34,00,000/- (68000 Fully Paid Equity Shares of Rs. 10/- each of Vishwanath Paper & Boards Ltd. including Premium of Rs. 40/- each shares).

12. Out of 4,35,00,000 Convertible Warrants of Rs. 10/- each, carrying a right to subscribe to equel no. of equity shares in the company on conversion within a period of 18 months, only 5,00,000 warrants were converted on receipt of call money. Rest of 4,30,00,000 warrants have been forfeited during the year due to non receipt of call money. Rest of 4,30,00,000 warrants have been forfeited during the year due to no receipt of call money within 18 months from the date of allotment i.e. 28.03.2008.

13. Related party disclosures a. List of related parties

i. Subsidiaries

- Vartex Fabrics Private Limited (Ceased to be subsidiary)

- Sybly International FZE

ii. Key Management Personnel

- ShriMaheshChandMittal

- ShriSatyaPrakashMittal

- ShriUmesh Kumar Mittal

iii. Relatives of Key Management Personnel

- Smt.Suman Mittal

- Mr. Nishant Mittal

- Sybly Threads Limited (Common KMP Mr. U.K.Mittal)

14. In the opinion of the Board of Directors, the current assets, loans and advances are approximately of the value stated if realised in the ordinary course of business and the provisions for all known liabilities is adequate and not in excess of amount reasonably necessary.

15. Total outstanding dues of small scale industrial undertakings and other than small scale industrial undertakings and the names of the small scale industrial to whom the company own a sum of exceeding Rupees one lakh which outstanding for more than thirty days, are not disclosed on the Balance Sheet as the suppliers have not indicated their status whether they are small scale undertakings or not or their documents and accordingly it was not possible for the company to bifurcate the trade creditors accordingly.

16. Previous Years figures have been rearranged and regrouped wherever necessary.