(a) Title/Lease deed in respect of following properties is pending for execution:-

i. Leasehold Land:-

• Lease hold land includes land measuring 2.599 acres allotted by L&DO vide "Memorandum of Agreement for Lease" dated 05.12.1975 for construction of office building i.e. Jawahar Vyapar Bhawan at Janpath, New Delhi for which lease deed is not yet executed in the name of the Company.

• Lease hold land includes land measuring 16.17 acre (50% share of total Land 32.33 acre allotted in the joint name of STC & MMTC) by erstwhile L&B Department/DDA vide Memorandum of Agreement dated 05.02.1968 for construction of Housing Colony at Aurbindo Marg, New Delhi. The lease deed demarcating 50% area of allotted leasehold land in the name of the company is not yet executed.

• Leasehold land includes a plot at Mallet Bunder, Mumbai Port Trust (where STC has a Tank Farm Installation) for which lease period has expired and the surrender certificate has been executed on 12.11.2021. The tanks installed at Mallet Bunder has been surveyed by MbPT and assets handed over on as is where is basis with an understanding that the value of the same shall be adjusted and paid to STC. (For details kindly refer note no. 50).

ii. Freehold Building:-

• Freehold Building includes house building at Asian Games Village Complex (AGVC) allotted by DDA vide allotment letter dated 30.05.1984, which is earmarked for settlement under OTS on as is where is basis.

• Free hold building includes 7 apartments in Mumbai (Located 2 at Wallace Apartment Grant Road , 3 at Mandar

Apartment, 1 at Shyamsadan at Khar (West) and 1 at Las Palmas, Malabar hills), which is earmarked for settlement under OTS on as is where is basis. .

(b) No Adjustment in respect of area and value has been made for following lands as the amount of compensation and execution of documents for this purpose are still pending:-

(i) 325.685 square meters taken by NDMC for widening of roads during Asian Games and 388.91 square meters taken

by DMRC for construction of Metro / Metro Station out of the total leasehold land allotted by L& DO to STC for construction of office building at (Jawahar Vyapar Bhawan) Tolstoy Marg, Janpath, New Delhi. The Company has taken up the matter with L&DO for reduction of both the area and the records will be updated in Fixed Assets register/Schedule in respect of its area & value once the final outcome in the matter is arrived at. The efforts are being made with L&DO in this regard on regular basis.

(c) As approved in the 436th Board Meeting dated 12th August 1991 for the sale of "Office Space in the Jawahar Vyapar Bhawan Building" total Office Space measuring 67,418 sq.ft. were sold to CCIC & HHEC. Thus, CCIC and

HHEC are co-owners limited to the property under their possession. (For detailed disclosure refer note no.39(11))

* STC has a wholly owned subsidiary, namely STCL Limited, based at Bangalore. The Union Cabinet in its meeting held on 13th August, 2013 had approved the winding up of STCL Limited, in view of extraordinary losses suffered by it, leading to erosion of its net worth and in view of the remote possibility of turnaround of the company in the foreseeable future. Accordingly, STCL filed the winding up petition on 26.11.2013 in the High Court of Karnataka. However, the winding up petition continues to be pending in the High Court of Karnataka due to objections raised by lender Banks and a few others.

STCL has a negative net worth of Rs. 4,559 crore (as on 31.03.2024) due to accumulation of interest on bank borrowings.

Subsequent to the winding up decision, all the business activities of STCL were stopped and there is no source of income of STCL presently. However, the company is attending to all the administrative matters, pending legal cases and ongoing recovery processes (including ED and CBI matters).

Accounts for the FY 2024-25 could not be prepared and hence were not made available for consolidation purpose.

However, it is to mention that as per Reg 33 of SEBI (LODR), 2015, every listed company which is having subsidiary company is required to approve its consolidated financial accounts with in 60 days from the end of financial year, and in case of non-compliance of Reg 33 of SEBI (LODR), 2015, a penalty of Rs. 5000 GST per day will be levied on STC by each of the stock exchanges separately.The same are expected to be submitted to STC shortly. Presently, STCL does not have any assets and operates from a rental premises belong to STC of India situated at Jayanagar, Bangalore, with staff strength of six employees.

** Investment of Rs. 10 lacs (Rs. 10 lacs) in a Joint Venture company (NSS Satpura Agro Development Co. Ltd. Has also been fully provided for as the Net Worth of the Company has completely eroded.

# Nominal Value of Rs. 4000/-

In view of the default by the company in paying due interest amount to the banks, STC was declared NPA. The lender banks have initiated DRT proceedings against the company and Canara Bank (Erstwhile Syndicate bank) had also initiated NCLT proceedings. The company is in the process of finalizing the OTS proposal with the lender banks and the amount crystalized with the Joint Lender Forum (JLF) is RS. 1,90,624 lacs as on 31.12.2018. A part payment of Rs 110000 lacs has already been made to Canara Bank (Erstwhile Syndicate bank), The leader of JLF on 29.03.2019(Rs. 90,000 lacs) and on 27.05.2019 (Rs. 20,000 lacs).

The leader of JLF has withdrawn the NCLT proceeding against STC on 11.12.2019. Further, we are in the process of finalizing the OTS proposal with the lender banks wherein, STC is pursuing alternative course of settlement for payment of Rs. 5,000 lacs upfront and Rs. 625 lacs as monthly instalment for 24 months to lender banks instead of transfer of immovable properties & formal proposal submitted to the lender banks which is under consideration with lender bank. The same has been updated in DRT proceeding & the next date of hearing is 15.07.2025. NFRA circular dated 28.11.2022, states that interest has to be recognized on its borrowings even if classified as NPA by lender banks and OTS is being negotiated with them. STC is expecting the OTS will be concluded in F.Y. 2025-26. Hence, the appropriate treatment in books shall be done at that time.

All the MCA charges as not satisfying are related to OTS with bank. As the OTS yet to be signed with banks. The same cannot be modified / satisfied untill OTS is signed with Banks. Details of charges not satisfied with MCA is hereunder :

* Includes an amount payable of Rs. 603 lacs to U.P. Government is adjustable against claims of interest and carrying charges amounting to Rs 3,382.23 lacs is outstanding from UPGEWC on account of (i) differential of import price and amount realised on risk sale of 9555.285 MTs Lemon Tur and (ii) Interest and carrying charges, and STC has been continuously following up the recovery matter with Govt of UP and filed its petition dtd 28.01.2022 for resolution of dispute through AMRCD mechanism. Last AMRCD meeting was held on 14.11.2025 wherein AMRCD committee had directed to carry out the reconciliation between STC and UPGEWC. Accordingly, STC vide letter dated 28.02.2025 has sent the documents/ information in support of our claim to UPGEWC. Further, a reminder dated 13.05.2025 is also sent to UPGEWC by STC.

** M/s Tanzania Commodities Pvt. Ltd. raised a claim of Rs. 2,446 lacs towards short supply of sugar through the associate M/s Mehek Overseas. The case is pending before the Bombay High Court. Refer note no. 39 (3) for details of M/s Mehek Overseas.

* M/s Mediterranean Shipping raised a claim of Rs. 729 Lacs towards non-payment of Demurrage and storage charges by M/s Mehek Overseas in two separate cases. The cases are pending before the Bombay High Court. Demand of Rs. 132.83 Crore was raised by L&DO vide its letter no. L&DDO/LS2A/9225/133 dated 26th March 2018 from 2004-05 onwards for non-compliance of various conditions of the Lease Deed (including non-deposits of 25% of the gross rent received by STC from its tenants). However, the company has disputed the demand and the matter is yet to be resolved. On the observation of CAG audit, the firm liability of Rs. 8,540 lacs has been created in the books of accounts for the F.Y. 2021-22. Further, STC through its various letters has been regularly following up with L&DO for providing details of outstanding dues and the latest reminder letter dated 20.05.2025 has been issued by STC requesting L&DO to provide details of outstanding dues, as on date and the reply is still awaited.

*Provision as on 31.03.2025 includes Rs. 1,342.74 lacs (after considering EMD Rs. 199 lacs available with STC) in respect of contract entered into by the company for import of goods from foreign supplier M/s Synergic Industrial Marketing Services (SIMS), Singapore/ Malaysia, on behalf of the Indian buyer M/s Millennium Wires Pvt. Ltd. The documents tendered by the foreign supplier were forged and fabricated. Hence, STC approached its banker (Allahabad Bank) not to release the payment to Foreign Bank against these LCs. Foreign Bank of supplier has approached Delhi High Court for release of payment against LCs. As per court order, Allahabad Bank has deposited decretal amount with court. As a result of this, Allahabad bank debited the account of STC, now Delhi High Court has passed its Judgment in the matter between Allahabad Bank & the Malayan Bank, upholding the decision of single bench against Allahabad Bank to pay the decreed amount (Rs. 1,079.69 lacs along with pendente lite & future simple interest till realization @ 9% p.a.) to Malayan Bank. Subsequent to the Hon'ble Delhi High Court Judgment dated 25.11.2019, STC received a Claim Letter dated 16.01.2020 from Allahabad Bank for an amount of Rs. 1,621,61 lacs along with future interest @ 9.65% p.a.w.m.r. towards all 4 LCs (1 LC was not accepted by STC, but Delhi High Court declared it against UCP 600).

Further, STC has also referred the matter to different legal forums. STC has made a provision of Rs. 1,342.74 lacs (net of EMD Rs.199 lacs available with STC) in respect of three LCs documents accepted by STC. Since STC has refuted the demand raised by Allahabad Bank, hence the balance amount of Rs. 515 lacs has been shown as Contingent liability. Further, lender institutions of the Indian buyer (M/s Millennium Wires Pvt. Ltd) have initiated NCLT proceedings. STC had also filed its claim for an amount of Rs. 1,491 lacs in compliance with Orders of the NCLT, Chandigarh Bench before the liquidator to the same extent of amount claimed by bank from STC at the date of filing claim before liquidator, However. The Liquidator has vide email dated 26.05.2020 rejected STC's claim of amount Rs. 1,491 Lacs. After STC's appeal before NCLT, Chandigarh, which disposed of the matter by ordering the liquidator to reconsider the claim of STC on merit, the liquidator informed that he has admitted claim of STC as unsecured Financial Creditor for Rs. 1,247.64 lacs after adjusting EMD and associated interest.

The Liquidator has recorded in the Minutes of the 19th Stakeholders Committee Meeting dated 18.09.2023 that STC has been included in the Stakeholders Committee as Unsecured Financial Creditor with Voting Share Percentage of 20.45%. Liquidation is proceeding as per norms of IBC 2016. Further, Indian Bank (earlier Allahabad Bank) has filed before Debt Recovery

Tribunal 2 (DRT 2), New Delhi claiming an amount of Rs. 1,740 lacs approx.. STC has

denied and contested this claim. The matter is presently at the stage of Argument. STC had filed a complaint with CBI New Delhi and an FIR NO.: RC2192022E0001 dated 08.02.2022 has been registered by CBI, New Delhi and investigation is underway in the matter."

(iii) Litigation Settlements:

1 M/s J.K. International (a foreign supplier) had a claim due to abrogation of contract by STC for import of pulses during 2008-09. The claim was disputed by STC on the ground that contract for import of Pulses was on the direction of Ministry of Consumer Affairs and the said Ministry directed STC to abrogate any balance quantity under the said contract. However, the supplier had invoked Arbitration clause and Award of Arbitral Tribunal was in favour of the supplier for Rs. 6,805 lacs plus interest from 01.12.2009. The company filed an appeal against the Tribunal award before the single bench of the Hon'ble Delhi High Court. The judgment was in favour of supplier for an amount of Rs. 5,703 lacs plus interest, which STC has filed an appeal before the Division bench of the Hon'ble Delhi High Court. M/s J. K. international aggrieved by the reduction of amount by Hon'ble Single Bench also filed appeal before Division Bench of Hon'ble High Court. Meantime, M/s. J.K. International filed an SLP against STC at Hon'ble Supreme Court and under order of Hon'ble Supreme Court, STC has paid a sum of Rs. 20 Crore to J.K. International. The matters are still pending before the Delhi High Court Division Bench and are Arguments stage. The matters were last listed on 01.04.2025, however, same could not be heard due to paucity of time. The matters are now scheduled to be heard on 24.07.2025.

2 "The company has appropriated an amount of Rs. 2,789 Lacs recoverable from M/s Lichen Metals Pvt. Ltd. (the party) against the deposits of its holding company viz. M/s Edelweiss Pvt. Ltd. due to this, the holding co. of party had gone for arbitration and award was in their favour for the refund of Rs. 2,789 Lacs plus interest @8% p.a. by STC excluding cost of arbitration. Against the same STC has filed an appeal before the Hon'ble High Court. Meanwhile, as per the High Court's direction STC has deposited Rs. 3,192 Lacs with the High Court of Calcutta. The amount has been kept as a Security in the form of FD with High Court, pending appeal.

The money was withdrawn by M/s Edelweiss by submitting a Bank Guarantee of equivalent amount and a sum of Rs. 277 Lacs is left which is the amount of interest accrued over a period of time. Due to prevailing situation caused by the pandemic, the case has not progressed to any decisive stage, due to non-hearing of regular matters. After consultation with AOR in the aforesaid matter, RO is in the process of filing urgent hearing application so that the appearance of the said matter be regularised and the case may be decided on its merit.

3 M/s Helm did not accept the invocation of PBG by STC for recovering the differential/less amount in the transaction and approached the High Court of Delhi who referred the matter to ICA, New Delhi. The majority arbitration award was not in favour of STC. Subsequently, STC fought cases at legal forums to protect GOI's interests, however, both High Court and Supreme Court passed an order in favour of Helm indicating that M/s Helm was not contractually bound to restrict the quantity or price the additional quantity at a reduced rate and was contractually right to supply the additional quantity at the contracted price. Accordingly, as per the Court order, STC has paid the arbitral award amount of Rs. 92.05 crore approx. to M/s Helm. It is pertinent to mention here that Canara Bank (STC's bank who encashed Helm's PBG on STC's instructions) is seeking compensation for losses suffered by them for the period they were deprived of the PBG amount i.e. 2009-2011 as the Majority Arbitration Award did not delve upon Canara Bank's claim for interest for the period it was out of pocket (20092011) for the amount of PBG.

Canara Bank initiated Arbitration Case: DIAC/5984(1)/01-23 in Delhi International Arbitration Centre (DIAC) against M/s Helm and STC. In the said Arbitration Petition Former Judge,

Supreme Court of India i.e. Abhay Manohar Sapre is appointed as Sole Arbitrator to arbitrate the disputes between the parties. During last hearing, arguments from Advocate for M/s Helm were heard. STC had been requesting DOF for payment of the arbitral award amount and losses suffered by STC as the said transaction was handled by the company on behalf and as per the instructions of DOF only.

During the hearing held on 21.03.2025 Ms. Aishwarya Bhati, Ld. ASG appearing for STC advanced arguments on behalf of STC and against the counter claims filed against STC and concluded arguments. Further, Ld. Counsel for Canara Bank sought three weeks' time to advance his reply arguments. Therefore Ld. Counsel for M/s Helm also requested time gap to advance his rejoinder arguments.

Further with the consent of the Ld. Consel for the parties, the schedule of hearing of arguments on behalf of claimant shall be on 29.07.2025 and 30.07.2025."

4 STC had hired the Office Premises at Maker Chambers IV, Nariman Point Mumbai on lease basis for the period of 20 years from 01.01.1982 to 01.01.2002 on rental basis. There were a total of 17 landlords. After the expiry of tenancy period of 20 years, STC couldn't hand over the possession of premises on due dated as STC was undertaking critical Govt. supplies of essential commodities and alternate office space was being searched for. However, as per the terms of rent agreement, STC paid the rent for the extended period of stay to the respective landlords.

However, the landlords of the said premises initiated legal action against STC in the year 2002 for vacation of their premises. The legal matter was contested by STC till Supreme Court and STC had handed over the possession of half of the premises in the year 2007 and the other half during August 2012 to the respective landlords.

The landlords have filed various cases for recovery of Mesne profits for the extended period of stay. Out of these cases 6 nos. cases have been dismissed for non-prosecution in the year 2019, in favour of STC. 11 cases are pending before High Court of Bombay and STC has also filed SLP and review petition at Supreme Court in certain case matters. On the directions of Bombay High Court, STC has also deposited Rs. 260 lacs with the Court, in the case matters.

However, an amount of Rs. 1,215 lacs has been recognized in the books of accounts for F.Y. 2024-25"

(iv) Contingent Assets:

If it is probable that there will be inflow of the economic benefits, disclosure shall be made for contingent asset stating the brief description of the nature of the contingent asset. If possible, estimated financial effect shall also be disclosed. (' in Lacs)

^Contingent assets consist of claims (principal &interest) against those parties where either a provision has been made or has been written off. All these cases are pending at various level of court. **Others includes net amount of Rs. 467 Lacs receivable from Income Tax Department w.r.t the corporation opting for VsV scheme for the Assessment Year 2011-12.

(v) MoC&I vide letter dated 19.03.2020 conveyed that the subject matter has been re-examined in the Ministry in consultation with DPE and it has been decided that the recovery of the entire excess payment made in the contravention of DPE guidelines issued vide OM dated 26.11.2008 to be effected. Accordingly, fresh demand letter(s) dated 01.04.2020 were issued to all 27 officers (both serving & retired) with request to make payment within 15 days. Out of 27 officials, recovery has been made from ten (10) officers; six (6) officers approached Delhi High Court against subject recovery; in two (2) cases judgement/order came against STC hence, appeal has been filed before the Division Bench and matter is sub-judice. Further, with respect to other 12 officers, recovery suit has been filed in the court of law, and most of the applications have been rejected. Appeal has been filed in next higher court and matter is sub-judice. Two (2) officers (viz. Shri N.K. Nirmal, ex-Dir (F) and Sri Amit Raha, ex-CGM) have passed away during the course of the court proceedings. In case of Shri Amit Raha (retd. In 2010), STC has filed an application seeking withdrawal of the recovery suit.

39. Major Legal cases (Trade Receivables)

1 STC had supplied HR Coils to M/s Conros Steel Pvt Ltd during 2009-10. Party had defaulted in making payment due against one of the L/c amounting to Rs 1,205 lacs (L/c value Rs. 1,005 lacs and interest and other expenses Rs. 200 lacs). STC has filed civil applications and criminal complaint under various sections of Indian Penal Code. The material sold to the associate was pledged to STC and kept under the custody of CWC. However, another PSU viz. M/s Metal and Scrap Trading Corporation (MSTC) had made a claim of ownership of stock, against which STC has filed declaratory suit in the Lower Court, Panvel, Mumbai. Meantime, the Hon'ble Court had asked MSTC to conduct the sale of the pledged stock and deposit the sale proceeds with the Hon'ble Court. Accordingly, MSTC conducted e- auction of the stock and deposited sale proceeds of Rs. 1,028 lacs with the Panvel Court in the form of fixed deposit till the final order by the h'ble Court. Subsequently, as per the Hon'ble court order dated 14.12.2020, the said stocks of HR coils have been delivered by the custodian i.e. CWC to H-1 bidder i.e. M/s Rammangal & Sons on ""as is where is, no complaint basis"" under the supervision of Hon'ble Panvel court and invested the realized proceeds in Fixed Deposit till the final order by the Hon'ble Court. STC is strongly contesting its declaratory suit against M/s MSTC for the ownership of the stock as the said stock were

originally pledged to STC.The next date ofhearing in the matter is on 12.06.2025for recording ofevidence in the matter. STC is also persuing its case under sec 138 of NIA against M/S Consros Steel Pvt. Ltd. for dishonouring of their cheques of the total value of RS. 3,200 lacs approx.

Further, the lender institutions have initiated proceeding under NCLT against the party, STC has filed its claim of Rs. 2,870 lacs before NCLT dated 21.08.2018. As informed by the OL, the assets of the Corporate Debtor Conros Steels Pvt. Ltd., has been auctioned and Distribution of sale proceeds were made to secured creditors of the Corporate Debtor. As the realized amount was insufficient to pay the entire dues of the secured creditors there is no surplus to distribute to other creditors as per the waterfall mechanism under section 53 of the IBC 2016. Further, he has informed that at present litigation under the PUFE provisions are being pursued in NCLT by the Liquidator against the erstwhile management of the Corporate Debtor and other parties. If there is any recovery made as a result of such application, further Distribution will be done to stakeholders as per provisions of the Code.

2 STC had exported Gold jewellery to various parties of UAE against which USD 1,61,705,695 equivalent to Rs. 78,765 lacs is outstanding for recovery STC had discounted 90% of the bills from EXIM bank and paid 83.5% to respective Indian Suppliers. As per the agreements with local suppliers, local suppliers were responsible for remittances from the foreign buyers. As foreign buyers started to default from 2008- 09 onwards, STC initiated criminal and civil proceedings against local suppliers to recover the outstanding dues which are still pending. However, against most of the Indian Suppliers, winding up orders have already been passed. Provision of Rs. 44,546 lacs has been made and balance of Rs. 34,219 lacs has not been provided as the same is payable to various local suppliers.

3 Other trade receivables include Rs. 4,192 Lacs (approx.)on account of export of various agri commodities to various foreign buyers during 2006-07 to 2009-10 out of purchase made from the Local supplier M/s Mehek Overseas under various agreement against which corresponding credit balance of Rs. 4,192 Lacs appearing under Trade Receivables is payable under trade payable.

Further, a financial assistance of Rs. 7,533 Lacs given by STC to M/s Mehek Overseas Ltd. (MOPL) for the purchase of Agri Commodities has already been written off during 2013-14.

Since the party has failed to refund STC has initiated various legal steps against the party. The matter is also under investigation by CBI.

Considering the corresponding credit under trade payable of Rs. 4,192 Lacs, no provision is considered necessary" During the FY-2024-25, there is no change in the status"

4 Trade receivables include 56,844 Lacs (approx.) on account of export of pharma products to foreign buyers purchase from M/s Rajat Pharmaceuticals Ltd" (RPL). RPL drew bills of exchange on STC which were also accepted upon receipt of overseas buyer's pre- acceptance to STC's bills of exchange. The foreign buyers i.e. M/s Loben Trading and M/s Sweetland defaulted in making payment against the export bills. A claim of 52,786 Lacs has been admitted by the liquidator of one of the foreign buyer i.e. Loben Trading Co.Pte Ltd, Singapore. A Decree of 6,247 Lacs has been passed by Hon'ble Mumbai High Court in favour of STC against the dues from foreign buyer i.e. Sweetland Trading Pte Ltd. As of current date, RPL has gone into liquidation and official liquidator is appointed by Hon'ble High Court Mumbai. The matter is also under investigation by CBI. No provision is required against the same. Banks & Financial institutions have filed legal suit against RPL before DRT/High Court Mumbai making STC also a party to the case claiming 47,647 Lacs.

STC has filed non-money claim suit before different Courts at Delhi & Mumbai for declaring Bills of Exchanges of STC as null and void and unenforceable against STC which were conditionally accepted by STC on back to back basis i.e STC will make payment to Rajat/Banks only upon receipt of export proceeds from the foreign buyers.

STC had filed 272 Criminal Complaints u/s 138 of N.I Act in New Delhi in 2009 which were transferred from MM Court, Patiala House District Court, New Delhi to the 33rd MM Court, Ballard Pier, Mumbai. Now the matters have been again transferred to M.M. Court, Mazgaon, Bombay. STC is claiming an amount or Rs.45,635 lacs from M/s Rajat towards cheque bounce. Cases are at the stage of issuing of summons/arguments on issuing of summons

According to the final order dated 11.06.2025 passed by the Hon'ble Debts Recovery Tribunal-II, Delhi, in the case of ICICI Bank Ltd. (Bank of Rajasthan Ltd.) v. The State Trading Corporation of India Ltd. & Ors related to M/s Rajat Pharmaceuticals Ltd., STC has been directed to deposit a sum of Rs. 2,655 lacs within 30 days from the date of order. However, STC has challenged the DRT, Delhi Award and has filed an appeal before DRAT, Delhi on 25.07.2025. STC is hopeful of getting relief, hence no provision (being of contingent nature) has been made in the books of accounts"

5 Non-Current trade receivables include Rs. 322 lacs crore from M/s Renaissance Corporation Ltd. (under liquidation) towards import of pet bottle scrap material which are pledged with STC. This outstanding is against non-lifting of PET Bottle scrap imported in respect of last LC. STC went into arbitration, which was awarded in favour of STC. A provision of Rs. 176 lacs has also been made in books of accounts against outstanding.

The OL (Mr. Manoj Sehgal) has been appointed by the NCLT Mumbai vide its order dated October 18, 2022. STC has filed its claim of dues Rs. 1378.02 lacs (as on dated 18.10.2022) as an Financial creditor before OL. However OL has stated that STC is an Operational Creditor and not a Financial Creditor. STC has filed an application before NCLT for admitting its claim in the capacity of Financial Creditor by OL.

STC has received OL's consent for disposal of Pledged stock of 764.40 MTS of pet bottle scrap and accordingly engaged MSTC for sale of said stock through e-auction at their portal. No bids were received by MSTC after four auctions. The official liquidator has conducted E-auction on 05.12.2024 and successfully auctioned the stock and realized an amount of Rs. 90.38 lacs. Against the realized amount, OL has transferred only Rs. 13. 80 lacs to STC on 06.01.2025 after deducting the liquidation cost and distribution of proceeds. STC is in the process of filing application against OL in NCLAT.

6 STC has exported 19,980 MTs Rice for amounting to USD 60,93,900 (equivalent to Rs.4,065 Lacs) during 2016-17 to General Authority for Supply Commodities (GASC), a Government entity of Egypt on the basis of instruction of MEA. GASC, Egypt has deducted arbitrarily USD 6,03,357.75 (equivalent to Rs. 415 Lacs as on 31st March, 2019) from the total value of commercial invoice on account of fumigation and other charges and balance amount was paid.

However, STC has disputed the above said deduction and the matter has also been taken up at various forums i.e. MEA & concerned Embassies. Hence, no provision for Rs. 415 Lacs has been made.

Further, the said export of Rice was from the procurement made from Food Corporation of India (FCI) and as per Para 14 of the Agreement with FCI, the payment is to be made on receipts of the sale proceed from the Egyptian Buyer. Accordingly, STC has also not paid to the same extent to FCI.

Further in subsequent joint meeting of FCI, STC & MEA, it was decided that MEA shall pay the amount due of Rs. 415 Lacs. STC is not out of pocket and on receipt, amount will be passed to FCI. However, vide letter dated 08.10.2021, MEA has informed that they have made full and final settlement of Rs. 2,797.97 lacs on 27.12.2020 with Department of Food and Public Distribution. STC vide letter dated 29.10.2021 submitted that STC is not privy to said settlement and requested that the details may be shared with STC. Regular reminder to said letter are been forwarded to MEA.

7 STC had exported steel plates to Iranian Gas Engineering & Development Co. (IGEDC, Iran) during 2014-15 to 201617 for amounting to Rs. 2,87,324 Lacs under a contract which expired in January 2017. As on balance sheet date Rs. 9,085 Lacs reconciled is still outstanding. The amount outstanding will be paid by IGEDC, Iran. In the present case STC is not out of pocket since the amount outstanding from IGEDC on receipt is payable to back-up supplier M/s Essar Steel Ltd., (now M/s Arcelor Mittal Nippon Steel India Limited) and accordingly no provision has been made.

8 Trade receivables include an amount of Rs. 1,054 Lacs recoverable from M/s Dankuni Steel Ltd. against supply of met Coke during earlier years. For recovery of the dues, claim has been filed with NCLT through IRP. The company has filed legal and criminal cases against the party which are sub-judice.

No provision for Rs. 696 Lacs has been made as the said amount is secured by mortgage of free hold land. A provision of Rs. 358 Lacs has been made against the dues. Tender was floated for the sale of mortgaged property at Dankuni, however, no bids were received. Efforts are being made through Liquidation process as ell for recovery of dues as based on Liquidator's acceptance of STC's claim, STC has won the arbitration award of Rs. 2,974.95 lacs in its favour. However, as M/s CSPL (earlier DSL) is under Liquidation, efforts are being made through Liquidation process as well for recovery of dues. The Liquidation process is in progress by Official Liquidator as per norms of Liquidation.

On relinquishing 500 MT of Met Coke lying at Srikakulam Plant & its subsequent Sale, the Liquidator vide his last communication dated 17.01.2024, confirmed that the sales process has almost completed and that the sales proceeds amount shall be distributed in terms of Section 53 of IBC 2016. Rs. 73.72 lacs was received by STC from the Liquidator on 04-06-2024 in terms of Section 53 of IBC 2016 as mentioned by the Liquidator from the Sales proceed of the relinquished 500 MT of Met Coke which was lying at Srikakulam Plant.

9 Non-Current Claim Recoverable includes Rs. 392 Lacs from M/s Lichen Metals (the party) out of total exchange gain of Rs. 3,187 Lacs paid by STC to M/s Lichen Metals due to cancellation of forward cover by the party against

indent for domestic supply of Bullion. Subsequently, STC demanded for the refund of such amount which the party refused to refund. On refusal for refund, STC adjusted deposits of Rs. 2,795 Lacs taken from holding company (M/s Edelweiss) of the party leaving a recoverable balance of Rs. 392 Lacs. However, holding company had approached for arbitration against adjustment of its deposit by STC against the dues of the party (i.e. subsidiary). Arbitration award was in favour of the holding company of the party. However, STC has filed an appeal against the arbitration award before the Hon'ble High Court which is still pending. Hence, no provision for the same has been made. STC has deposited Rs. 3,192 Lacs with Hon'ble High Court, Calcutta pending appeal in Edelweiss matter. The amount was kept as a security in the form of FD with High Court, pending appeal. The money was withdrawn by M/s Edelweiss and a sum of Rs. 277 Lacs is left which is the amount of interest accrued over a period of time. STC Kolkata has filed a petition GA no 3 of 2023 A.P no. 424 of 2019 before the honourable Calcutta High court for directions to be issued to the Ld. Registrar Original side High court Calcutta to release the said some of Rs. 277 Lacs lying with the PL account of the registrar at the reserve Bank of India Kolkata to the petitioner.

The matter appeared for hearing before Calcutta High court on 25.04.2023 where in honourable justice Shekhar Saraf has ordered to file affidavit.

In compliance to the direction of the Honble High Court, M/s Edelweiss had filed an Affidavit in Opposition, subsequently STC had filed a para-wise reply to the Affidavit in Opposition Filed by M/s Edelweiss.

The Matter has not appeared since then and the Hearing is pending.

10 M/s Samsung did not agree with the penalty imposed by STC and the subsequent encashment of PBG by STC in the matter, Samsung initiated arbitration proceedings against STC and STC also filed its counter claim. As per the Arbitral award, Samsung is entitled to the return of a sum of USD 15,62,430.88 plus interest @ 8% from 26.12.2016 by STC. STC filed an appeal against the said arbitration award before Delhi High Court. The Hon'ble Delhi High Court had only granted conditional stay in the matter upon deposit of the principal amount awarded by the Ld. Sole Arbitrator. Accordingly, STC deposited Rs. 11.03 Cr approx. with the Court as per its directions. Department of Fertilizers has till date not withdrawn the penalty imposed by them in the said transaction.

STC had been requesting DOF to withdraw the penalty imposed by DOF on STC and reimburse legal expenses incurred by STC in the matter as the said transaction was handled by the company on behalf and as per the instructions of DOF only.

During the various hearings held last year, the arguments from the both the parties were heard by the honorable Court and the matter is now reserved for judgement.

11 STC received a demand of Rs. 8,002 Lacs from NDMC during 2016-17 towards property tax for the period from 1999-2000 to 2016-17 and the same has been allocated proportionately to CCIC & HHEC. Out of total demand of Rs. 8,002 Lacs, STC has paid Rs. 2,212 Lacs during 2016-17 against which CCIC has paid its share of Rs. 115 Lacs. However, HHEC has not paid its share, hence provision to the extent of share of HHEC out of payment of Rs. 2,212 Lacs has already been made.

The matter was pending at Patiala House Court, Delhi, which has vide its order dated 24.03.2025.

HHEC in pursuance to its Board approval dtd. 29.01.2024 submitted a proposal for surrendering back its share of 4.5% office space in JVB and 64 staff quarters at STC housing colony at zero cost to STC in lieu of outstanding dues payable to STC. Accordingly, STC's Board on 0808.2024 accorded approval to their offer and HHEC has handed over second floor annexe (3,795.21 sq.ft.) out of 12,667sq.ft.to STC on 26.03.2025.

Since separate valuation of the 2nd floor annex is not available and the total dues pending from HHEC is yet to be reconciled, the necessary accounting entries shall be passed in the books of accounts only upon vacation/ handing of the entire share as mentioned above by HHEC.

12 Advances includes a sum of Rs. 8,739 Lacs receivable from M/s MMT, New Delhi, excluding contingent assets of Rs. 36,271 Lacs recoverable from M/s MMT and its partners, against which the company has initiated legal actions including criminal proceedings. In this regard, full provision has been made in earlier years. The Company was successful in getting arbitration award for Rs. 10,974 Lacs in its favour along with 12% interest per annum from 1st May 2006 till realization of award. The party and its partners had challenged the Arbitration award under section 34 of arbitration act and their applications were dismissed by the Hon'ble High Court of Delhi vide order dated 03.07.2023. M/s MMT & its partners have challenged the order dated 03.07.2023 under Section 37 of Arbitration Act before Division Bench of Delhi High Court, which is being vehemently opposed by STC.

Meanwhile, Hon'ble Delhi High Court vide its orders dated 22.09.2023 & 30.10.2023 has released a total amount of Rs. 1,920.97 lacs to STC which was deposited with the Delhi High Court towards Sales Tax refund. In view of above, ongoing cases the same will be adjusted against debtors at the time of final outcome.

13 Trade receivables of Rs. 5 Lacs (excluding Contingent Assets) is receivable from M/s Balasore Alloys, the business associate. Various legal cases i.e u/s 138 of N.A Act & u/s 482 of Cr. PC are pending before Hon'ble Courts in New Delhi are being pursued sincerely by STC. STC in total has received Rs. 5,855 Lacs in terms of interim award dated 23.03.2017 of Arbitral Tribunal. Though Arbitration concluded and Award was signed by the Tribunal in 2021, the Award was published in July 2023 by ICA only after BAL paid its due share on intervention of Hon'ble Delhi High Court.

STC received an email dated 04.07.2023 from ICA with True copy of the Award of Rs. 1,848.76 lacs in favour of STC along with interest at the rate of 7% per annum in terms of the award. An application for Execution of Arbitral Award for an amount in terms of the awards has been filed by STC before the Balasore Court (as per jurisdiction as advised by the dealing advocate) on 29.11.2023 and the same has been admitted on 11.12.2023. The matter is being pursued with all effort by STC and the next date in the matter is on 03.07.2025.

14 STC filed its petition dtd 15.06.2021 before AMRCD for recovery of its outstanding dues of Rs. 22,172 Lacs from DOCA under various accounts arising out of implementation of 15% subsidy scheme of Pulses. AMRCD vide order dtd 29.05.2022 dropped STC's claims of Rs. 9,734 Lacs and Rs. 3,012 Lacs and accepted STC's claim of Rs. 1,880 Lacs to the extent of Rs. 1,425 Lacs. However on STC's claim of Rs. 7,546 Lacs pertaining to M/s JK International as the matter is sub-judice, STC has been asked to take up the matter afresh before AMRCD after Court decision, if felt necessary.

STC is following up with DoCA for releasing the awarded amount of Rs. 1,425 lacs to STC.

41. Disclosures in respect of Ind AS 107 - Financial Instruments 41.1 Financial Instruments by Categories & Fair Value Hierarchy

a) Level 1 - Level 1 hierarchy includes financial instruments measured using quoted prices (unadjusted) in active markets.

b) Level 2 - Level 2 hierarchy includes financial instruments measured using inputs other than quoted prices included within Level 1 that are observable for the asset or liability, either directly (i.e. as prices) or indirectly (i.e. derived from prices).

c) Level 3 - Level 3 hierarchy includes financial instruments measured using inputs that are not based on observable market data (unobservable inputs).

b) Credit Risk

Credit risk refers to the risk of default on its obligation by the counterparty resulting in a financial loss. The maximum exposure to the credit risk at the reporting date is primarily from trade receivables and unbilled revenue. Accordingly, credit risk from trade receivables has been separately evaluated from all other financial assets in the following paragraphs.

Trade receivables and unbilled revenue are both secured & unsecured and are derived from revenue earned from customers. On account of adoption of Ind-AS 109, the company uses expected credit loss model to assess the impairment loss or gain. The company uses a provision matrix to compute the expected credit loss allowance for trade receivables and unbilled revenues. The provision matrix takes into account available external and internal credit risk factors such as credit default swap quotes, credit ratings from international credit rating agencies and the company's historical experience for customers.

Trade receivables are impaired when recoverability is considered doubtful based on the recovery analysis performed by the company for individual trade receivables. The company considers that all the above financial assets that are not impaired and past due for each reporting dates under review are of good credit quality.

Other Financial Assets

Credit risk relating to cash and cash equivalents is considered negligible because our counterparties are banks. We consider the credit quality of term deposits with such banks that are majority owned by the Government of India and subject to the regulatory oversight of the Reserve Bank of India to be good, and we review these banking relationships on an ongoing basis. Credit risk related to employee loans are considered negligible since loan is secured against the property/guarantee for which loan is granted to the employees. There are no impairment provisions as at each reporting date against these financial assets. We consider all the above financial assets as at the reporting dates to be of good credit quality (Note if any impairment provisions are made against these financial assets then information to be provided)

c) Liquidity Risk

Our liquidity needs are monitored on the basis of monthly and yearly projections. The company's principal sources of liquidity are cash and cash equivalents, cash generated from operations and credit facilities from banks We manage our liquidity needs by continuously monitoring cash inflows and by maintaining adequate cash and cash equivalents. Net cash requirements are compared to available cash in order to determine any shortfalls.

Short term liquidity requirements consists mainly of sundry creditors, expense payable, employee dues arising during the normal course of business as of each reporting date. We maintain a sufficient balance in cash and cash equivalents to meet our short term liquidity requirements.

We assess long term liquidity requirements on a periodical basis and manage them through internal accruals.

The table below provides details regarding the contractual maturities of non-derivative financial liabilities. The table have been drawn up based on the undisclosed cash flows of financial liabilities based on the earliest date on which the company can be required to pay. The table includes both principal & interest cash flows.

42. Disclosure in respect of Indian Accounting Standard (Ind AS)-21 "The Effects of changes in Foreign Exchange Rates"

The amount of exchange differences (net) debited/credited to the Statement of Profit & Loss Rs. -78.47 lacs (P.Y. Rs. -62.30 lacs.)

43. Disclosure in respect of Indian Accounting Standard (Ind AS)-23 "Borrowing Costs"

The amount capitalized with Property, Plant & Equipments as borrowing cost is Rs. Nil . & Rs. Nil . for the year ended March 31,2025 & March 31,2024 respectively.

44 Disclosure in respect of Indian Accounting Standard (Ind AS)-36 "Impairment of assets"

During the year, the company assessed the impairment loss of Rs. NIL (P.Y. Rs. 318. lacs) on assets. Refer Note 32.

45 Disclosure in respect of Indian Accounting standard (Ind AS)-108: "Operating Segments"

Operating Segments

1) Export

2) Import

3) Domestic Identification of Segments

The Chief Operating Decision Maker monitors the operating results of its Business Segments separately for the purpose of making decisions about resource allocation and performance assessment. Segment performance is evaluated based on profit or loss and is measured consistently with profit or loss in the financial statements. Operating segments have been identified on the basis of the nature of products/services and have been identified as per the quantitative criteria specified in the Ind AS.

Segment revenue and results

The expenses and incomes which are not directly attributable to any business segment are shown as unallocable expenditure (net of unallocated income).

Segment assets and liability

Segment assets include all operating assets used by the operating segments and mainly consists of PPE, trade receivables, cash & cash equivalents and inventories. Segment liability primarily includes trade payables and other liabilities. Common assets and liabilities which can not be allocated to any of the segments are shown as a part of unallocable assets and liabilities.

Intersegment Transfers

Intersegment prices are normally negotiated among segments with reference to the cost, market price and business risk. Profit or loss on intersegment transfers are eliminated at the company level.

NOTE NO. 46 :

Disclosure as per IND AS 19 Employee Benefits (i) Defined Contribution plans:

A. Pension

Company has defined contribution pension plan for its existing employees in pursuance to the guidelines issued by the Department of Public Enterprises. In this regard STC Employees Defined Contribution Superannuation Pension Trust has been formed. Under the scheme the employer's contribution is 9% of basic pay VDA of eligible employees and the funds of the trust are managed by LIC. An employee leaves the company before completion of 15 years only employee avail the benefit of this scheme. In case the employee leaves the company before completion of 15 years only employee contribution along with interest is payable to him. However, this condition does not apply to the employees who join other CPSE having the same Pension Scheme. (Refer Note 30 for expense on this account).

A. Provident fund

Company pays fixed contribution to Provident Fund at pre determined rates to a separate trust, which invests the funds in permitted securities. The contribution to the fund for the year is recognised as expenses and is charged to the Statement of Profit & Loss.(Refer Note 30 for expenses on this account) The obligation of the Company is to make such fixed contribution and to ensure a minimum rate of return to the members as specified by the Government.

B. Gratuity

The Company has a defined benefit gratuity plan. Every employee who has rendered continuous service of five years or more is entitled to get gratuity at 15 days salary (15/26 x last drawn basic salary plus dearness allowance) for each completed year of service subject to a maximum of Rs. 20 lakhs on superannuation, resignation, termination, disablement or death.

Based on the actuarial valuation, the following table sets out the status of the gratuity and the amounts recognised in the Company's financial statements as at balance sheet date:

D. Leave

The Company provides for Earned Leave (EL) and Half Pay Leave (HPL) benefit to the employees of the Company which acRsue annually at 30 days and 20 days respectively. The maximum ceiling for encashment of leave at time of superannuation/cessation from service other than on disciplinary ground shall be limited to 300 days (EL & HPL combined). 50% of EL subject to a maximum 150 days is en-cashable on resignation. EL is en-cashable while in service leaving a minimum balance of 15 days twice in a year.

Service awards are given to regular employees for rendering continuous service in the Company for long service rendered by them on completion of 15/25/30/35/38 years of service. Besides this, service award @ Rs. 1,000/- per year for each completed year of service is also given at the time of retirement subject to a maximum of Rs. 30,000/-. The same has been discontinued vide personnel diviusion Circular dated 13.06.2017.

i The discount rate is based upon the market yeilds available on Government bonds at the accounting date relevant to currency of benefit payments for a term that of the liability

ii Salary Growth rate is company's long term best estimate as to salary increases & takes account of inflation, seniority, promotion, business plan, HR policy and other relevant factors on long term basis as provided in relevant accounting period.

iii Medical Cost increase rate is company's long term best estimate as to cost increases taking into account of inflation, other relevant factors on long term basis as provide in relevant accounting period

Sensitivities due to mortality & withdrawals are not material & hence impact of change due to these not calculated by actuarial

Sensitivities as rate of increase of pensions in payment, rate of increase of pensions before retirement & life expectancy are not applicable

H Risk Exposure

Valuations are based on certain assumptions, which are dynamic in nature and vary over time. As such company is

exposed to various risks as follows:

1. Salary Increase- Actual salary increase will increase the Plan's Liability. Increase in salary increase rate assumption in future valuations will also increase the liability.

2. Investment Risk- If plan is funded then assets liabilities mismatch & actual investment return on assets lower than the discount rate assumed at the last valuation date can impact the liability.

3. Discount Rate- Reduction in discount rate in subsequent valuations can increase the plan's liability.

4. Mortality & Disability- Actual deaths & Disability cases proving lower or higher than assumed in the valuation can impact the liabilities.

5. Withdrawals- Actual withdrawals proving higher or lower than assumed withdrawals and change of withdrawal rates at subsequent valuations can impact Plan's Liability.

d. Entities under the control of the same Government

The company is a Central Public Sector Undertaking (CPSU) controlled by Central Government by hold majoirty of shares (refer note no. 18), Pursuant to Paragraph 25 & 26 of Ind AS 24, entities over which the same government has control or joint control of, or significant influence, then the reporting entitiy and other entities shall be regarded as related parties. The company has applied exemption available for government related entities and has made limited disclosure in the financial statements. Such entities with which the Company has significant transactions include but not limited to Ministry of Fertilizers and chemicals..

55. Balance confirmations & Reconciliation

Balance of receivables & payables (including in certain cases direct and indirect taxes) are subject to confirmation/ reconciliation

56. Non-Going Concern

Consequent upon the decision taken in the meeting held on 29.08.2019, by the administrative ministry an further decision of the Board in its 639th meeting dated 05.04.2021, it has been resolved that STC to continue as a nonoperating company for the time being and to prepare the accounts from the F.Y. 2021-22 onward on non-going concern basis. Due to uncertainity of continuation of operations, the company has not made provision of rent equilisation reserve, pre-paid and prior period expenses.

57. STC had a lease on a plot of land at Mallet Bunder belonging to MBPT, which expired on 17.10.2016. STC initially sought an extension of the lease but later decided to surrender the plots due to a decision to non-viability and stopping trade activities. Subsequently, the said plot was surrendered and surrender certificate was executed on 12.11.2021. MBPT had filed two cases against STC before the H'ble estate officer, but they were withdrawn after a meeting between the two parties, and outstanding issues/ disputes (if any) shall be resolved under the provisions of AMRCD mechanism. The assets handed over to MBPT installed at Mallet Bunder have been surveyed by MBPT, and the value of the Tank farms, machinery way leave, pipelines and other assets will be adjusted against outstanding dues of STC. As per the opinion of legal counsel and GST consultant, STC is liable to pay differential rent i.e. after adjustment of amount paid by STC against the compensation for the use of occupation beyond the lease period to the tune of Rs. 9.20 lac per mensem as per clause no. 24 of the lease agreement dated 30.07.1984 along with applicable GST. Further to above, the auction of the STC assets was conducted by MBPT on 11.06.2024 and the assets were ultimately sold for Rs. 355 lacs, with the previously forfeited EMD of Rs. 25 Lacs. STC calculated its total receivables from MBPT at Rs. 418 lacs which includes the sale proceeds, EMD and deposits. STC to set off this amount against the Rs. 257 lacs Lease rent payable, (amount yet to be reconciled with MBPT) resulting in a net receivable of Rs. 161 lacs from MBPT.

58. Pursuant to circular no. NF-25011/1/2023-O/o Secy-NFRA (National Financial Reporting Authority) dated 29.03.2023 on "Instances of non-compliance with Indian Accounting Standards (Ind ASs) on accounting policies for measurement of Revenue form Contracts with Customers and Trade Receivables" has been revised and approved by Board Dtd. 08.11.2023 which is duly changed and incorporated in note no 3.8 & 3.12 respectively. Since there are no such transactions in STC therefore the financial figure are not affected as on 01.04.2022, 31.03.2023, 31.03.2024 & 31.03.2025 due to the said changes in Accounting policy.

59. Amount in the financial statements are presented in Rs. Lacs (upto two decimals) except for per share data and as otherwise stated. Certain small amounts may not appear in financial statements due to rounding off in Rs.Lacs. Previous year's figures have been regrouped/ rearranged wherever considered necessary. Regrouping/ rearrangement of data is for specific purpose of presentation in fiancial statements only and do not affect legal status of STC. STC reserves all its rights under the applicable laws.