A. Terms/rights attached to equity shares

The Company has only one class of equity shares havingaparvalueof?10pershare.Each holder of equity shares is entitled to one vote per share. The Company declares and pays dividend in Indian Rupees. The dividend proposed by the Board of Directors if any, is subjectto the approval ofthe shareholders in the ensuing general meeting.

B. Share Capital

For non-payment of call-moneys, 82,200 equity shares of X 10 each were forfeited by the Board after due compliance of legal formalities and such shares have not been reissued so far

Nature of security of borrowings as at31 March 2023

C. Secured Loans

a) Secured loans repayable on demand comprises of cash credit and Term loans repayable in suitable instalments from HDFC Bank Ltd and Indian Overseas Bank secured by a pari-passu charges on current assets (other than stocks funded through warehousing funding) and fixed assets of the company (Land & Building and Plant & Machinery situated at Begumpur Khatola, Gurgaon, Haryana) ii. Commercial Flat no.E-1 & E-ll ,4th Floor, Surya Towers premises bearing no.1-4-7 to 19 admeasuring 4564 sq.ft, at Sardar Patel Road, Secunderabad, Telangana on 1st pari -pasu charge basis and personal guarantee of Ms.M.Shirisha Raghuveer Myadam and Ms.Sugandha Bai.

b) Axis bank:

i) . Secured by Industrial Godown and Land to an extent of 5894.91 Sq. yards situated at H.No. 10-3-99/23, Lingojiguda,

Saroor Nagar, Ranga Reddy District Within Hyderabad municipal corporation limits standing in the name of Ms. Myadam SugandhaBai.

ii) Hypothecation of Charge over the entire assets created and also purchased out of Axis bank term in the project land area of AC. 16.38 Guntas situated at Gohana, Sonipat, Haryana.

iii) M/s. Diptanshu Food Industries Private Limited has provided corporate Guarantee by way of equitable mortgage of Industrial Land and Buildings admeasuring Ac.16.38 Guntas Situated at Mustil No:46,Kila No:6, Patti Kalyana village, Gamri village to Patti kalyana road, Gohana, Sonipat, Haryana standing in the name of M/s. Diptanshu Food Industries Private Limited (formerly known as Bambino Industries Private Limited).

a. The accumulated deferred tax liability amounting to? 356.66 lacs on account of timing differences between book and tax profits as of 1st April 2001 has been adjusted against General Reserve and Subsequentyear's deferred tax adjustments were carried out in the respective Profit and Loss Accounts.

b. During the current year the tax effect of the timing differences resulted in Deferred tax Liability of? 133.69 lacs and the same has been shown in P&LAccount

(a) During year ended 31st March 2023, the Company contributed in lacs ? 124.40 (2022 : ? 125.39) to provident fund and in lacs?0.10 (2022:? 0.15 )to employee state insurance.

(b) Provision for Gratuity of an amount ? 24.44 lacs is made during the year (previous Year ? 14.41 lacs) a defined benefit scheme administered by LIC of India.

b) The Income Tax Department has raised a demand of? 53.05 lacs and 42.36 lacs forthe Assessmentyears 2021-22 and 2022-23 towards PF and ESI. The Company has preferred an appeal before the Commissioner of Income Tax (Appeals) faceless assessment. Pending the disposal of appeal the company has not provided provision forthe same.

c) The Income Tax Department has raised a demand U/s 143(1) of? 137.97 lacs pertaining to assessmentyears 2018-19 2019-20 and 2020-21 towards PF and ESI. The Company has not agreed with the demand and has submitted a reply to the department online. However the Income Tax Department has not passed any assessment orders for the aforesaid assessmentyears. No provision is made in the books of accounts forthe aforesaid amount pending orders of the Income Tax Department.

34. A provision of ? 24.43 lacs is made forthe Corporate Social Responsibility activity forthe financial year 2022-2023.

35. Dividend : The Company proposed a dividend of? 1.60 PerShare offace value of ? 10 each in the board meeting held on 29th May 2023, subjectto the approval of Members at the ensuing AGM.

36. Land and Building Taken on Lease

The Company has taken on lease the land and buildings of Diptanshu Food Industries Private Limited a related company at Gohana.Sonipat, Haryana fora period of 10 years as per Lease Deed (effective from 1st July 2021) for set-up of 2 Pasta plant Lines, at a monthly rentals of? 22.00 lacs excluding TDS, GST and other applicable taxes beginning from the date of Commercial Production of the plant. The company has started commercial production of one line on 27th December 2022, rent paid during the year is? 66.00 lakhs.

37. Applicability of IND AS 108

The Company is engaged in Food Products, which as per IND AS 108 is considered as the only reportable business segment. The geographical segmentation is not relevant as exports are insignificant.

38. Legal Case Filed

a. Two shareholders having substantial equity in the company have filed a petition against the company and others in National Company Law Tribunal .Hyderabad with C.P. No. 20 of 2021 under sections 241,242 & 245 ofthe Companies Act 2013. One ofthe Shareholders Mrs. Myadam Anita withdrew her petition ie. IA(CA)33/2022, NCLT .Hyderabad allowed the aforesaid withdrawal vide its order dt Sept'27,2022. Mrs. Myadam Anita's subsequent petition filed CANo.53/2022to NCLT, Hyderabad was dismissed by its order dt. 27.09.2022(Common Order.) The appeal filed by Mrs. Myadam Anita before the Hon'ble NCLAT, Chennai ie. company appeal (AT)(CH)No.10/2023 and IA No. 73/2023 stands withdrawn by her vide its order dated 14.02.2023. The impact on the Financials ofthe company if any is unascertained.

b. The Promoter shareholders filed a case against other promoter shareholders in Telangana State High Court at Hyderabad, vide Arbitration Application No.80/2021, for appointment of Arbitrator and the above High Court appointed an Arbitrator on 27.04.2022 and in the mean time such arbitrator recused himself from Arbitration proceedings and this case is pending for appointment of new arbitrator. The promotor shareholders also filed their respective Arbitration Application Nos. 217/2022 and 218/2022 in Telangana State High Court at Hyderabad. The Company has been made a respondent.

39. Trade payables and trade receivables are subjectto confirmation and or reconciliation.

41. Comparatives

Previous year's figures have been re-grouped/re-arranged/recast/reclassified to confirm to the Current year's figures, wherever necessary. The figures in the Balance Sheet have also been rounded off to the nearest thousand rupees.

43. Events occurred afterthe Balance Sheet date

The Company evaluates events and transactions thatoccursubsequenttothe Balance Sheet date but prior to approval of Financial Statement to determine the necessity for recognition and/or reporting of any of these events and transactions in the Financial Statements.

44. Disclosure pursuant to requirements of Rule 11(e) (i) & (ii) of the Companies (Audit and Auditors) Rules

(i) No funds have been advanced or loaned or invested (eitherfrom borrowed funds or share premium or any other sources or kind of funds) by the Company to or in any other person(s) orentity(ies), including foreign entities ("lntermediaries")with the understanding, whether recorded in writing or otherwise, that the Intermediary shall lend or invest in party identified by or on behalf of the Company (Ultimate Beneficiaries). Summary ofthe significant accounting policies and other explanatory information

(ii) The Company has not received any fund from any party(s) (Funding Party) with the understanding that the Company shall whether, directly or indirectly lend or invest in other persons or entities identified by or on behalf ofthe Company ("Ultimate Beneficiaries") or provide any guarantee, security orthe like on behalf ofthe Ultimate Beneficiaries.

45. The Company has not extended any loans or advances in the nature of loans to its promoters, directors, key managerial personnel and its related parties, as defined underthe Act, during the years ended 31st March 2023 and 31st March 2022.