i) The storage fund for molasses has been created to meet the cost of construction & maintenance of molasses storage tank as required under Uttar Pradesh Sheera Niyantran (Sansodhan) Adesh, 1974 and the said storage fund is represented by investment in the form of fixed deposits with banks amounting to ' 136.07 lacs (Previous year ' 121.71 lacs).

ii) Securities Premium is used to record premium on issue of shares. This reserve shall be utilised in accordance with the provisions of the Act.

iii) Forfeiture reserve represents the amount forfeited against non conversion of share warrant into equity share with in stipulated period by specified promoters.

iv) Retained earnings represents the undistributed profit/accumulated loss of the Company.

v) Other comprehensive income (OCI) represents the balance in equity relating to re-measurement gain / (loss) of defined benefit obligation . This will not be re-classified to Statement of Profit and Loss.

4. For the year ended March 31, 2024 and in previous years, due to higher raw material cost i.e. sugarcane costs (SAP) fixed by State government and relatively lower sales realization of finished sugar on adverse demand & supply scenario, and other external factors, the Company had continuously incurred huge cash losses resulting in complete erosion of its net worth, rendering the Company unable to meet payment obligations towards its lenders as well as to the sugarcane farmers in terms of their respective agreements and understanding. All the production units of the Company are operational and continue to operate at sub-optimum levels on year-on-year basis while consistent efforts are being made for improvement in operational efficiency viz. improvement in sugar recovery, reduction in overheads and reduction in other operational and administrative costs etc. However, due to lack of required working capital and no capex being undertaken towards augmentation and modernization, the operations of distillery and sugar plants are still adversely impacted. Further, the availability of required sugarcane for optimal utilization of production capacities is still a challenge on account of aforesaid reasons. In distillery segment, noninstallation of incineration boilers and other equipment’s to meet the stringent requirement of Pollution Control Board is still resulting in curtailed production levels. Further, the expected accrued benefits under the Sugar Industries Promotion policy 2004 has not been yet disbursed by the State Government as the matter is sub-judice.

Recognizing the status of the sugar industry, the state and central governments have taken a number of measures in past to improve the financial health of sugar mills and to support the liquidation of sugarcane arrears by grant of soft loan, fixing minimum support price of sugar, and Ethanol blending program with petrol coupled with long term tendering and fixing remunerative selling price of ethanol etc. All these measures specifically ethanol blending programme, have resulted in revival of the sugar industry but the Company is continuing to suffer and incurring losses on account of non-availability of sufficient sugar cane commensurate to its crushing capacities, on account of delayed payment of sugar cane prices due to adverse liquidity position, which have resulted in the diversion of sugar cane in the command areas to the other adjoining sugar mills. Benefits under soft loan could also not be availed, since credit facility accounts with its lenders were having NPA categorisation.

Due to default in repayment of credit facilities, lenders to the Company have initiated recovery proceedings at various forums, including filing of applications before the Hon’ble National Company Law Tribunal (NCLT) under Section 7 of the Insolvency and Bankruptcy Code, 2016 and also filing of recovery proceedings against personal guarantors (Promoters) before NCLT under section 95 of Insolvency and Bankruptcy Code,2016 in addition to approaching Debt Recovery Tribunals in Delhi as well as in Lucknow, Uttar Pradesh. One of the lenders had declared the Company and Guarantors to the credit facility, as Willful Defaulters, which was Set Aside by Hon’ble Punjab and Haryana High court at Chandigarh, while another lender had started the proceedings to examine the Willful Default and a personal hearing was also granted, basis Company’s representations the decision is kept in abeyance. One lender had categorized company with a fraud tag, which was set aside by the Hon’ble Delhi High Court. While one of the lenders had initiated recovery proceedings under section 138 of the Negotiable Instrument Act, wherein non-bailable warrants were issued against the erstwhile directors and officials of the Company, which is being contested at the appropriate forum. Against a criminal complaint filed by one of the lenders, the Enforcement Directorate had passed an Attachment Order on certain assets of the Company to the extent of ' 109.80 Crore, against which the Company had preferred an appeal before with the appropriate authority and an Interim Stay had been granted by the Hon’ble Appellate Tribunal.

The Company is continuing to pursue a comprehensive debt resolution proposal with all the lenders. Commercial lenders have shown their inclination to accept the debt resolution proposal and accepted the Earnest Money offered thereof, while the debt realignment proposal was submitted to other lenders against which the company has started the repayments, pending approval of respective lenders. Revised debt resolution proposal given to commercial lenders on a bilateral basis is under consideration by the commercial lenders, based on which Hon’ble NCLT Bench, Allahabad has adjourned the hearing.

Considering the steps initiated to turnaround the Company and sugar sector, and continuing manufacturing operations in the near foreseeable future with improved operational efficiency, these financial statements are continued to be presented on a Going Concern basis, which contemplates realization of assets and settlement of liabilities, in the normal course of business. Accordingly, property, plant and equipment continued to be stated at the carrying amount, without testing for impairment.

5 Contingent liabilities and commitments (to the extent not provided for):

i) Capital and other commitment

Estimated value of contracts (net of advances) remaining to be executed on Capital account ' 416.11 lacs (Previous year ' 351.00 lacs). The Company has other commitments, for purchase / sales orders which are issued after considering requirements per operating cycle for purchase / sale of goods and services, employee benefits including union agreements in normal course of business. The Company does not have any other long-term commitments or material non-cancellable contractual commitments / contracts, which may have a material impact on the financial statements.

ii) Claims against the Company not acknowledged as debts ' 2,505.46 lacs (Previous Year ' 2,491.47 lacs).

All the above matters are subject to legal proceedings in the ordinary course of business. The legal proceedings, when ultimately concluded will not in the opinion of the management, have a material effect on results of operations or financial position of the Company.

The amount shown in Note No. 5 (ii) above represent the best possible estimates arrived on the basis of demand raised by the claimant and does not include interest if any, payable thereon from the date of demand. The uncertainties and timing of the cash flows are dependent on the outcome of different legal processes which have been invoked by the company or the claimants, as the case may be and, therefore cannot be estimated accurately. The Company does not expect any reimbursement in respect of above contingent liabilities,except as stated in Note No.5(iii).

In the opinion of the management, no provision is considered necessary for the disputes mentioned above on the ground that there are fair chances of successful outcome of the appeals.

iii) With the introduction of GST w.e.f. July 1,2017, the purchase tax earlier levied on ENA subsumed therein. Since under GST no tax was notified to be paid on the sale of ENA, no tax was paid by Industry on its sale. Later on, the State Government notified 5%.VAT rate on the sale of ENA w.e.f. December 09, 2019. Accordingly the industry, including the company started paying VAT @ 5% w.e.f December 09, 2019.However, the commercial tax Department of Uttar Pradesh raised a demand of ' 1933.47 lacs on the company based on the tax rate of 32.5% of ENA ,in respect of sales made during the periods July 1,2017 to March 31,2020. The Company filed appeal against the aforesaid demand before Commercial Tax Tribunal - Ghaziabad, and deposited ' 206.22 lacs under protest against the aforesaid demand. The tribunal had stayed the recovery of balance demand till the disposal of appeal. Since, the matter is subjudice and the company expects a favorable decision on the matter, no provision has been made against the aforesaid demand.Further the payment, if any, will be required to be made for the VAT liability ,the same will be reimbursed by the buyers as per agreement with them.

iv) The Hon’ble Allahabad High Court in the case of PIL Rashtriya Kisan Mazdoor Sangathatan Vs State of Uttar Pradesh passed final order, directing the cane commissioner to decide afresh the issue as to whether the Sugar Mills are entitled for waiver of interest of delayed payment of sugarcane price for the season 2012-13,2013-14 and 2014-15 under the provision of section 17(3) of the U.P Sugarcane (Regulation of Supply and Purchase) Act,1953.Thereafter,in an Contempt application filed before High court and its follow up proceeding, the cane commissioner filed an affidavit specifying interest rates on delayed payment of cane price to be paid by Sugar Mills. The company had also received a notice for payment of interest on delayed payment of cane price for Sugar season 2012-13 is pursuant to the aforesaid order. The Company made representation against the said demand notice. Subsequently, State Government has filed modification application before and Cane commissioner also filed SLP with the Supreme Court in this matter which is pending for adjudication. Considering the above facts and based on the the past practice of waiver of interest by the State Government, no provision has been made in respect of the interest payable on delayed payment of cane price for the aforesaid sugar seasons and also for subsequent sugar seasons. Since no demand has been raised by the Government, except for the sugar season 2012-13, the total amount of interest payable on delayed payment of cane price up to March 31,2024 and not provided in the accounts could not be quantified.

v) Cane Societies were in dispute with the State Government of Uttar Pradesh with regards to retrospective waiver of society commission payable by sugars mills for the Sugar Season 2012-13, 2014-15 and 2015-16 as a part of its relief package to Sugar Industry. The Hon’ble Allahbad High Court vide order dated 21-12-2017 decided the matter in favour of Cane Societies and against the aforesaid order U.P Sugar Mill Association filed SLP before Hon’ble Supreme Court. The matter is still pending for the further adjudication. Based on the legal review of the facts, the management concluded that the possibility of crystallization of liability in the present case is remote and according no provision has been made in accounts.

6 Disclosures required under Section 22 of the Micro, Small and Medium Enterprises Development Act,2006 (MSMED ACT, 2006).

On the basis of supplier information available with the Company who have registered under the MSMED Act, 2006, the following are the details:

7 Certain banks had advanced Agri loans to sugarcane farmers through the erstwhile Simbhaoli Sugars Limited (ESSL) under the management and collection agreements and were provided Corporate Guarantee and post-dated cheques as security. These loans were to be repaid by the Company to the respective lenders from the dues payable to sugarcane farmers against their supplies to the sugar mill, but due to the overall downturn in the sugar industry and primacy to pay sugarcane dues in priority to any other dues/ payments, the Company could not repay these loans on their due dates. Company had submitted a financial restructuring plan to its lenders in FY 2014-15. As per sanction of CDR-EG dated February 02, 2016 all the outstanding loans/ dues were proposed to be converted into term loans, subject to the consent of respective commercial lenders Two of the commercial lenders/ banks had converted their outstanding loans dues into term loan in the financial year 2016-2017 while one of the commercial lender/ bank had converted their dues into term loan in financial year 2017-18.

Erstwhile Oriental Bank of Commerce (e-OBC) now amalgamated with Punjab National Bank, one of the commercial lender, who had converted Agri Loan into Corporate loan as stated above, in financial year 2016-17 had arbitrarily classified its outstanding Agri Loan as “Fraud” liability in May 2015. Subsequently, after following due process and obtaining approvals, including but not limited to obtaining specific permission from the Reserve Bank of India (RBI) for conversion of loan liability, and in consultation with all other Consortium Lenders, sanctioned and disbursed a corporate loan in February/June 2016 for liquidating the Agri Loans. In addition, in an application filed by e-OBC at Debt Recovery Tribunal, Lucknow confirming simultaneous closure of the matter and a consented decree was passed.

E-OBC, had arbitrarily initiated recovery actions against the Company for the restructured corporate loan including an application filed under Section 7 of Insolvency and Bankruptcy Code, 2016 before Hon’ble National Company Law Tribunal (NCLT), Allahabad Bench. PNB had also filed an similar application before NCLT, Allahabad Bench for recovery of their dues, causing a serious threat to the value available to all the stakeholders e-OBC, had declared company and guarantors as Willful Defaulters against which company and guarantors have challenged and contested such declaration in the Hon’ble Punjab and Haryana High Court at Chandigarh and Court was pleased to Set Aside such impugned order of e-OBC. A Show Cause Notice on Willful Default was issued by Punjab National Bank to company and guarantors. Basis representations made before the screening committee and taking into account that Forensic Audit report, initiated by the Joint Lenders, which was also closed by unanimous consensus in Joint Lenders Meeting including representatives of PNB, stating that there is No Fraud or Willful Default, PNB had kept the declaration of willful default in Abeyance. After Amalgamation PNB had issued another show cause notice to the company and Guarantors, including exposure of e-OBC, wherein default was identified as Willful and a personal hearing was granted. Company and Guarantors has contested such identification and submitted written submission stating that allegations are baseless and requested to provide all the documents on the basis which such conclusions are arrived at, under the expert legal opinion. It was further apprised, that company has submitted debt resolution proposal with all the commercial lenders PNB had declared the account as Fraud due to Harmonisation with e- OBC, company had challenged such declaration in Hon’ble Delhi High Court and matter is being Sub-Judice. Earlier e-OBC had also filed a criminal complaint with the investigating agency declaring the credit facilities as “Suspected Fraud”. The Company has denied any fraud on its part, provided adequate documentation for the same, while reiterating its commitment for repayment to all the lenders, basis future cash flows, monetisation of assets, internal accruals etc. Against such criminal complaint, the enforcement directorate had passed an attachment order on certain assets of the Company to the extent of ' 109.80 crores, against which the Company has preferred an appeal with the appropriate authority and the matter is sub-judice. Enforcement Directorate had proceeded to take the constructive possession of the Attached Property on which an Interim Stay has been granted by the Hon’ble Appellate Tribunal.

The Company is continuing to pursue a comprehensive debt resolution proposal with all the lenders. Commercial lenders have shown their inclination to accept the debt resolution proposal and accepted the Earnest Money offered, while the debt realignment proposal was submitted to other lenders against which the company had initiated the repayments, pending approval of respective lenders. The revised and improved debt resolution proposal given to commercial lenders on a bilateral basis is under consideration by the commercial lenders, based on which Hon’ble NCLT Bench, Allahabad has adjourned the hearing.

8 The Board of the Simbhaoli Power Private Limited (SPPL), a 51% subsidiary, has not yet approved its accounts for the financial years 2022-23 and 2023-24. The Company has exposure aggregating to ' 18,925.45 Lakhs in the aforesaid subsidiary, by way of investments, trade and receivables, accumulated interest on debentures. As per audited financial statements for the Financial Year 2021-22, the company had incurred losses on account of reduction in power tariffs and its auditors had reported the existence of material uncertainty that might cast significant doubts about its ability to continue as a going concern and also drawn attention on the possible impairment in the carrying amount of property, plant and equipment. The management is of the view that sufficient efforts are being undertaken to make the operations of the said subsidiary financially viable in the foreseeable future so as to recover the carrying amount of investments, trade and other receivables, and accumulated interest and the impairment, if any exists, is of temporary nature and accordingly, no provision has been considered necessary.

9 The credit facilities availed by the Company have been classified as non-performing assets (NPA) by all the lenders and interest thereon is not being charged to the loan accounts by commercial lenders as per RBI’s circular. The Company has submitted comprehensive debt resolution proposals with all the lenders to commensurate with its future cash flows including infusion of funds by strategic investor, promoters, internal accruals, monetization of assets etc. which contemplates the total waiver of interest concession in repayment of principal amount. Commercial lenders have accepted the Earnest Money Deposit (EMD) offered in consonance with the Debt Resolution Proposal. Accordingly, the estimated interest expenses on credit facilities pertaining to commercial lenders, for the year ended March 31, 2024 amounting to ' 22,144.56 Lakhs (Previous Year ' 19,018.54 Lakhs) has not been recognized in the statement of profit and loss account. An estimated accumulated amount of ' 1,11,092.59 Lakhs towards accrued interest has not been provided for in the books of accounts as of March 31,2024.

9.i) Reconciliation of quarterly bank returns Note for discrepancies :

The Bank returns were prepared and filed before the completion of all financial statement closure activities including Ind AS related adjustments/ reclassifications, as applicable, which led to these differences between the final books of accounts and the bank return which were based on provisional books of accounts. Further difference also arises on account of different valuation methodology adopted for valuing the finished goods stock in the books and for the purpose of reporting in the bank return. In the books, stock of finished goods is recorded at lower of cost or net realisable value but for bank purposes it is taken at net realisable value which is determined as per bank norms.

iv) In pursuance of the provisions of Section 197 and other applicable provisions of the Companies Act, 2013,the Board of Directors of the Company had re-appointment of Ms. Gursimran Kaur Mann, as Managing Director of the Company w.e.f. August 02, 2021 and Mr. Sachchida Nand Misra as Chief Operating Officer and Whole Time Director w.e.f. September 18, 2021 for a period of 2 years The Company had also approached the lenders for acceding consent for payment of the remuneration to MD and COO & WTD. The Special Resolutions were passed at the 10th Annual General Meeting (AGM) held on September 27, 2021. Lenders with majority share in outstanding debt have provided their consent to pay the remuneration to above named persons. The Company is actively pursuing with other lenders for obtaining their consent, having belief that consent will be received in due course, and payment of remuneration has been made from the date of re-appointment, as stipulated by the majority of lenders led by the State Bank of India till March 31,2024 amounting to ' 301.82 lacs (Including ' 59.27 Lacs for FY:2023-24) . The details of remuneration paid during the financial year to the Managing Director, Chief Operating Officer and Whole Time Director and Key Management Personnel are as under :-

* The said amount does not include amount in respect of gratuity & leaves as the same are not ascertainable.

11 Segment reporting

i) Operating segments:

The company’s operating segments are business segments, viz. sugar and alcohol, basis which chief operating decision maker (CODM) evaluates the company’s performance and allocates resources

ii) Geographical segments:

Since the Company’s activities/operations are primarily within the country and considering the nature of products it deals in, the risks and returns are same and as such there is only one geographical segment.

iii) Segment accounting policies:

In addition to the significant accounting polices applicable to the business segments as set out in note 2 above the accounting policies in relation to segment accounting are as under:

a) Segment revenue and expenses:

Joint revenue and expenses of segments are allocated amongst them on a reasonable basis. All other segment revenue and expenses are directly attributable to the segments.

b) Segment assets and liabilities

Segment assets include all operating assets used by a segment and consist principally of operating cash, debtors, inventories and fixed assets, net of allowances and provisions which are reported as direct offsets in the balance sheet. Segment liabilities include all operating liabilities and consist principally of creditors and accrued liabilities. Segment assets and liabilities do not include income taxes. While most of the assets/liabilities can be directly attributed to individual segments, the carrying amount of certain assets/liabilities pertaining to two or more segments is allocated to the segments on a reasonable basis.

• Risks related to defined benefit plans:

Valuations are performed on certain basic set of pre-determined assumptions and other regulatory framework which may vary overtime. Thus, the Company is exposed to various risks in providing the above benefits which are as follows:

> Interest rate risk: The plan exposes the Company to the risk of fall in interest rates. A fall in interest rates will result in an increase in the ultimate cost of providing the above benefit and will thus result in an increase in the value of the liability (as shown in financial statements).

> Liquidity Risk: This is the risk that the Company is not able to meet the short-term benefit payouts. This may arise due to non availabilty of enough cash / cash equivalent to meet the liabilities or holding of illiquid assets not being sold in time.

> Salary Escalation Risk: The present value of the above benefit plan is calculated with the assumption of salary increase rate of plan participants in future. Deviation in the rate of increase of salary in future for plan participants from the rate of increase in salary used to determine the present value of obligation will have a bearing on the plan's liability.

> Demographic Risk: The Company has used certain mortality and attrition assumptions in valuation of the liability. The Company is exposed to the risk of actual experience turning out to be worse compared to the assumption.

> Regulatory Risk: Gratuity benefit is paid in accordance with the requirements of the Payment of Gratuity Act, 1972 (as amended from time to time). There is a risk of change in regulations requiring higher gratuity payouts (e.g. Increase in the maximum limit on gratuity of ' 20,00,000).

> Asset Liability Mismatching or Market Risk: The duration of the liability is longer compared to duration of assets, exposing the Company to market risk for volatilities/fall in interest rate.

> Investment Risk: The probability or likelihood of occurrence of losses relative to the expected return on any particular investment.

Note:- The above is a standard list of risk exposures in providing the above benefit. The Company is advised to carefully examine the above list and make suitable amendments (including adding more risks, if relevant) to the same before disclosing the above in its financial statements.

• Method and Assumptions related terms:

> Discount Rate: Discount rate is the rate which is used to discount future benefit cash flows to determine the present value of the defined benefit obligation at the valuation date. The rate is based on the prevailing market yields of high quality corporate bonds at the valuation date for the expected term of the obligation. In countries where there are no such bonds, the market yields at the valuation date on government bonds for the expected term is used.

> Salary Escalation Rate: The rate at which salaries are expected to escalate in future. It is used to determine the benefit based on salary at the date of separation.

> Attrition Rate: The reduction in staff/employees of a company through normal means, such as retirement and resignation. This is natural in any business and industry.

> Mortality Rate: Mortality rate is a measure of the number of deaths (in general, or due to a specific cause) in a population, scaled to the size of that population, per unit of time.

> Projected Unit Credit Method: The Projected Unit Credit Method (sometimes known as the accrued benefit method pro-rated on service or as the benefit/years of service method) considers each period of service as giving rise to an additional unit of benefit entitlement and measures each unit separately to build up the final obligation. The Projected Unit Credit Method requires an enterprise to attribute benefit to the current period (in order to determine current service cost) and the current and prior periods (in order to determine the present value of defined benefit obligations).

19 Financial risk management objectives

The Company’s principal financial liabilities comprise loans and borrowings, trade payables and other payables. The main purpose of the financial liabilities is to finance the Company’s operations. The Company’s principal financial assets include loans, trade and other receivables and cash and bank balances that derive directly from its operations. The Company also holds investments in equity shares and debentures of its subsidiaries.

The Company’s activities expose it mainly to credit risk, liquidity risk and market risk. This note explains the sources of risks which the entity is exposed to and how it mitigates that risk.

i) Credit risk

a. Credit risk arises from the possibility that counter party may not be able to settle their obligations as agreed. Company is exposed to credit risk from trade receivables and deposits with banks. To manage this, Company periodically assesses the financial reliability of customers, taking into account factors such as credit track record in the market and past dealings with the Company for extension of credit to customer. Outstanding customer receivables are regularly monitored. Concentrations of credit risk are limited as a result of the Company’s large and diverse customer base. Company has also taken advances and security deposits from its customer / agents, which mitigate the credit risk to an extent. The ageing of the trade receivables is given below:

b. The impairment analysis is performed at each balance sheet date on individual basis for major clients. In additions a large number of minor receivables are grouped into homogenous group and assessed for impairment collectively. The company makes specific provisions @100% / write offs in respect of major customers based on its previous experiences and increase in credit risks. The company makes general provisions for lifetime expected credit loss in respect of receivables @ 50% on the amount of receivables overdue for more than 180 days and 25% on the amount of receivable overdue for more than 90 days to 180 days.

c. Company considers factors such as track record, size of the institution, market reputation and service standards to select the banks with which term deposits are maintained. Generally, term deposits are maintained with banks with which Company has also availed borrowings.

ii) Liquidity risk

Liquidity risk is the risk that a company may encounter difficulties in meeting its obligations associated with financial liabilities that are settled by delivering cash or other financial assets. Since the Company is making continuous losses, presently it monitors rolling forecasts of its liquidity requirements to ensure it has sufficient cash to meet operational needs. The table below provides undiscounted cash flows towards financial liabilities into relevant maturity based on the remaining period at the balance sheet to the contractual maturity date.

iii) Market risk

The company is exposed to the risk of movements in interest rates, inventory price and foreign currency exchange rates that affects its assets, liabilities and future transactions. Market risks comprises of four types of risks such as:

a) Interest rate risks

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 interest rates. The Company’s exposure to the risk of changes in market interest rates relates primarily to the Company’s borrowings obligations with floating interest rates.

b) Commodity risk

Sugar industry being cyclical in nature, realisations get adversely affected during downturn. Higher cane price or higher production than the demand ultimately affect profitability. The Company has partly mitigated this risk adopting integrated business model by diversifying into distillation, for better price realisation of the by-products.

c) Foreign exchange risk

Foreign currency risk is the risk that the fair value or future cash flows of an exposure will fluctuate because of changes in foreign exchange rates.

The Company’s exposure to the risk of changes in foreign exchange rates is limited to the Company’s operating activities (when revenue or expense is denominated in a foreign currency), which are not material.

ii) Fair Value hierarchy

This section explains the judgements and estimates made in determining the fair values of the financial instruments that are recognized and measured at fair value. To provide an indication about the reliability of the inputs used in determining fair value, the Company has classified its financial instruments into the three levels prescribed under the accounting standard. An explanation of each level follows underneath the table.

Following methods and assumptions used to estimate the fair values:

Fair value of cash and cash equivalents and short term deposits, trade and other short term receivables, trade payables, short term borrowings and other current financial assets and liabilities carried at amortized cost is not materially different from its carrying cost, largely due to the short-term maturities of these financial assets and liabilities Level 1: Quoted prices (unadjusted) in active markets for identical assets or liabilities.

Level 2: Inputs other that quoted prices included within Level 1 that are observable for the asset or liability, either directly or indirectly.

Level 3: Inputs for the assets or liabilities that are not based on observable market data (unobservable inputs).

There is no transfer from one level to another level during the year.

23 Additional regulatory information

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

ii) The Company has not traded or invested in Crypto currency or Virtual Currency during the year.

iii) 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.

iv) 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.

v) There are no proceedings against company, being the Company registered under "th e Act" , th a t h ave be e n i n itiated or pending against them for holding any benami property under the Benami Transactions (Prohibition) Act, 1988 (45 of 1988) and the rules made thereunder.

vi) 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, sea rch o r s u rve y o r an y other relevant provisions of the Income Tax Act, 1961

vii) The company has not granted any loans or advances in the nature of loans to promoters, directors, KMPs, and the related parties(as defined under Companies Act, 2013), either severally or jointly with any other person, that are:

a) repayment of demand; or

b) granted without specifying any terms or period of repayment.

viii) No scheme of arrangement has been approved by the competent authority in terms of Section 230 to 237 of The Companies Act,2013.

24 Details of loan and advances given, investment made and securities provided as required to be disclosed as per provisions of Section 186 (4) of the Companies Act, 2013 have been disclosed in respective heads.

25 In the opinion of Board of Directors,trade receivable,other current financial assets and other current assets have a value on realisation in ordinary course of the company's business which is at least equal to the amount at which they are stated in the balance sheet.

26 The Board of Directors at its meeting held on 29th May,2024 has approved the Financial Statements for the year ended March 31,2024.