v) Accounting for Provisions, Contingent Liabilities & Contingent Assets

In conformity with Ind-AS 37, Provisions, Contingent Liabilities and Contingent Assets', issued by the
ICAI. A provision is recognized when the Company has a present obligation as a result of past events
and it is probable that an outflow of resources will be required to settle the obligation, in respect of
which a reliable estimate can be made. Provisions (excluding retirement benefits and compensated
absences) are not discounted to their present value and are determined based on the best estimate
required to settle the obligation at the balance sheet date. These are reviewed at each balance sheet
date adjusted to reflect the current best estimates.

Contingent liabilities are not recognized in the financial statements.

A contingent asset is neither recognized nor disclosed in financial statements.

w) Provision for doubtful debts

The Management reviews on a periodical basis the outstanding debtors with a view to determine as
to whether the debtors are good, bad or doubtful after taking into consideration all the relevant
aspects. On the basis of such review and in pursuance of other prudent financial considerations the
management determines the extent of provision to be made in the accounts.

x) Rounding of amounts

All amounts disclosed in the financial statements and notes have been rounded off to the nearest to
Lakhs except share & per share data, as per the requirement of Schedule III, unless otherwise stated.

Working Capital Loans from Banks (Current and Non Current)

Security

Company has obtained Cash Credit Limit of Rs. 5500.00 Lakhs from HDFC Bank, both fund and non fund base, is secured against hypothecation of stock of
finished goods, raw materials, work in progress, book debts, stores and spares and guaranteed by the directors of which Rs. 3105.19 Lakhs is outstanding at
year end, on account of reconciliation. During the year, the company has also obtain the limit of Rs. 2900.00 lakhs from ICICI Bank, both fund and non fund
base, against the hypothecation of "Current Assets" and "Immovable Assets" along with the guarantee provided by the director(s) and their business units, of
which Rs. 3101.50 Lakhs (including interest) is outstanding at the end of the year.

Terms and conditions of transactions with related parties :

1. The Company has been entering into transactions with related parties for its business purposes.Related party vendors are selected competitively in
line with other unrelated parties having regard to strict adherence to quality, timely servicing and cost advantage. Further related party vendors
provide additional advantages in terms of:

(a) Supplying products primarily to the Company

(b) Advanced and innovative technology

(c) Customisation of products to suit the Company's specific requirements, and

(d) Enhancement of the Company's purchase cycle and assurance of just in time supply with resultant benefits-notably on working capital.

2. The purchases from and sales to related parties are made on terms equivalent to and those applicable to all unrelated parties on arm's length
transactions. Outstanding balances payable and receivable at the year-end are unsecured, interest free and will be settled in business transactions

Note : 37 Segment Reporting

In accordance with IND AS 108 "Operating Segments", the Board of Directors of the company, being the Chief Operating Decision Maker of the company has
determined "Stainless Steel Products" as the only operating segment.

Note : 38 Previous Year Figures

Previous year figure are regrouped, wherever necessary. Current year balance sheet derived after taking all Ind (AS) into consideration.