17.1: As per Sec. 74 of the Companies Act 2013 which has come into force with effect from 01.04.2014, deposits accepted from public before commencement of this Act, remain unpaid or become due at any time thereafter the same has to be repaid within one year or date on which it is due whichever is earlier. The Company had approached the Company Law Board seeking extension of time for repayment of deposit and the Company Law Board vide it's order no. CA. No. 09/2015 dated 07.04.2015 has approved the company's request for the time extension and directed the Company to pay the deposits with agreed interest to all Fixed Deposit holders as per the date of maturity. Uncliamed public deposits includes deposits matured but not claimed by the depositors.

24.1 EMPLOYEE BENEFITS

i) Short Term Employee Benefits.

All employee benefits payable wholly within twelve months of rendering the service are classified as short term employee benefits. Benefits such as salaries, wages, short terms compensated absences, etc., and the expected cost of bonus, ex-gratia are recognised in the period in which the employee renders the related service.

ii) Defined Benefit Plan and long term employee benefits.

Gratuity: The Company has a defined benefit gratuity plan. Every employee who has completed five years or more of service gets a gratuity on death or resignation or retirement at 15 days [last drawn salary] for each completed year of service. The scheme is funded with an insurance company in the form of a qualifying insurance policy.

The employees' gratuity fund scheme managed by Life Insurance Corporation of India is a defined benefit plan. The present value of obligation is determined based on actuarial valuation using the Projected Unit Credit Method, which recognizes each period of service giving rise to additional unit of employee benefit entitlement and measures each unit separately to build up the final obligation. The obligation for leave encashment is recognized in the same manner as gratuity.

i. The Company had received a notice during the course of FY 2024-2025 from the Grampanchayat Office, Ravalgaon, demanding outstanding Grampanchayat Tax for various years amounting to R 2,31,91,494. The Company believes that the calculation is inaccurate and unfair and has appealed to the Hon. Minister for Rural Development & Panchayat Raj. The Company made ad-hoc payments of R10,00,000 in Financial Year 2023-24 and R 50,00,000 in Financial Year 2024-25 to show its bona tides. The final liability cannot be ascertained until the Hon. Minister decides on the matter. However, the Company believes that the strength of its appeal and the payments already made should meaningfully address any liability once determined, and has not recognized the outstanding amount as a debt or created a provision according to Ind AS 37.

ii. The Company entered into agreements with the Government of Maharashtra in 2020 for drawing water from the Girna Left Canal for industrial and domestic use. The agreement stipulated specific water usage targets, with penalties for nonusage. However, due to the COVID-19 pandemic and subsequent government-mandated shutdowns, the Company was unable to utilize the water as per the agreement. Consequently, the Irrigation Department issued bills from time to time with pending claims totalling R19,93,113 for industrial use and R3,14,407 for domestic use, including interest and certain penalties such as non-fulfilment of usage obligations. In response, the Company submitted a representation dated 3rd March 2025 to the Hon. Executive Engineer, Malegaon Dam Division, requesting a waiver of the penalties. Payments of R6,50,191 for industrial use and R78,212 for domestic use were made during the financial year 2024-2025, as part of the Company's efforts to settle the accepted dues. As the Company has formally requested a waiver and believes that a further outflow of resources is not probable, it has not recognized the outstanding amounts as a debt nor created a provision according to Ind AS 37.

iii. In May 2025, the Second Labour Court, Nashik, ruled in favour of 21 former seasonal workers, estimating their total gratuity demand at R28,22,662, along with interest of R33,87,196. The Company disputes this ruling, asserting that the workers' seasonal employment does not meet the criteria for gratuity under the Payment of Gratuity Act, 1972, as they did not complete the requisite 240 days of service in a year. Consequently, the Company plans to file an appeal before the Industrial Court, Nashik. Since the Company believes the liability is not probable, it has not recognized the estimated gratuity amount as a debt nor created a provision according to Ind AS 37, pending the outcome of the legal proceedings.

32. The identification of Micro, Small and Medium Enterprises is based on Management's knowledge of their status. Disclosure of trade payables under other liabilities is based on information available with the Company regarding .i e status of the suppliers as defined under the Micro, Small and Medium Enterprises Development Act, 2006. The Company also has no outstanding dues in the current year that were required to be furnished under section 22 of Micro, Small and Medium Enterprises Development Act, 2006.

33. Additional regulatory information required by Schedule III of Companies Act, 2013

I. No proceedings have been initiated on or are pending against the Company for holding benami property under the Benami Transactions (Prohibition) Act, 1988 (45 of 1988) and Rules made thereunder.

II. The Company has not been declared 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.

III. The Company has not revalued its property, plant and equipment (including right-of-use assets) or other intangible assets or both during the year.

IV. The Company has not recorded any transactions which are not in the books of accounts and has been surrendered or disclosed as income during the year in the tax assessments under the Income Tax Act, 1961.

V. The Company has not traded or invested in Crypto currency or Virtual Currency during the current and previous financial year.

VI. The Company has not entered into any scheme of arrangement which has an accounting impact on current and previous year

VII. During the year no funds raised on short-term basis have been used for long-term purposes by the Company.

VIII. The Company has complied with the number of layers prescribed under the Companies Act, 2013.

IX. There are no charges or satisfactions which are yet to be registered with the Registrar of Companies beyond the statutory period.

34. Balance Confirmation

Balances of Trade Receivables, Trade Payables, loans and advances, deposits, Borrowings are subject to confirmation and reconciliation. Accounts receivables are net of advances.

35. The financial statements are approved for issue by the Audit Committee and the Board of Directors at their respective meetings conducted on 29th May, 2025.

36. The previous year's figures have been regrouped / restated / rearranged, wherever considered necessary, to make them comparable with the current year presentation.