NCL Research and Financial Services Ltd. के अकाउंट के लिये नोट

Mar 31, 2025

(d) Terms and rights attached to Equity Shares:

The Company has issued only one class of Equity Shares having a Face Value of ? 1/- per share. Each holder of Equity Shares is entitled to one vote per share. In the event of liquidation of the Company, the holders of Equity Shares will be entitled to receive remaining assets of the Company, after distribution of all preferential amounts. The distribution will be in proportion to the number of Equity Shares held by the shareholders.

Nature and purpose of other Reserves General Reserve

The general reserves are the retained earnings of a Company which are kept aside out of Company''s profits to meet future (known or unknown) obligations. The general reserve is a free Reserve which can be utilized for any purpose after fulfilling certain conditions.

Statutory Reserve (Reserve u/s. 45-IC of the Reserve Bank of India Act, 1934 (the "RBI Act, 1934"))

This reserve created as per the provision of the Section 45-IC of the Reserve Bank of India Act, 1934 (the "RBI Act"). Non-Banking Finance Company is required to transfer an amount not less than 20 per cent of its net profit to a Reserve Fund before declaring any dividend. Appropriation from this Statutory reserve is permitted only for the purposes specified by RBI.

Retained Earnings

Retained earnings are profits earned by the Company after transfer to general reserve, Statutory reserve in terms of section 45-IC(i) of the Reserve Bank of India Act, 1934 and payment of dividend to shareholders.

Remarks:

(a) Trade Receivables amounting of Rs. 174.61 Lakhs are receivable since long time. As per management explanation, these are recoverable and company is in process to recover. ECL Provision has not been made thereon.

(b) Other interest free advances (shown under other financial assets) amounting of Rs. 2091.34 Lakh given as advances to various parties for share purchase of various companies. Out of the 2059.44 lakhs advances are outstanding since long time. As per management explanation these are fully recoverable and company is in process to recover. ECL Provision has not been made thereon.

(c) Some of the balances of Trade Receivables, Deposits, Loans and Advances, Trade payable are subject to confirmation from the respective parties and consequential reconciliation/adjustment arising there from, if any.

(d) We draw attention to Notes in respect of incomplete Supporting bills, documents etc. of Supporting for some of the expenditure of ''revenue nature for the quarter ended March 31, 2025 as well as the year-to-date results for the period from April 01, 2024 to March 31, 2025.

(e) The company has Net Tax Asset of Rs. 112.28 Lakhs (Shown under Current Tax Assets) as on 31^st March 2025 pertaining to various years. As per the management, company is in process to reconcile with tax department.

(f) The Company has not complied with provision if Ind AS- 19 for employee benefits. As per the management, company is in process to comply the same.

Note 27: Other Statutory Information

(a) The Company has not entered into 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.

(b) The Company has complied with the number of layers prescribed under clause (87) of Section 2 of the Act read with the Companies (Restriction on number of Layers) Rules, 2017.

(c) The Company is not declared willful defaulter by any bank or financial institution or other lenders.

(d) The Company has not traded or invested in crypto currency or virtual currency during the financial year.

(e) The Company has not revalued its property, plant and equipment (including right-of-use assets) during the year.

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

(g) There is no instance of Loans or Advances in the nature of loans are granted to promoters, directors, KMPs and the related parties (as defined under Companies Act, 2013,) either severally or jointly with any other person, during the year.

Note 28: Corporate Social Responsibility

The Company does not meet the criteria specified in sub section (1) of section 135 of the Companies Act, 2013, read with Companies [Corporate Social Responsibility (CSR)] Rules, 2014. Therefore it is not required to incur any expenditure on account of CSR activities during the year.

Note 29: Segment Reporting -

The company is primarily engaged in the single business of trading in shares and securities and there is no reportable secondary segment i.e. geographical segment. Hence, the disclosure requirement of Accounting Standard-17 "Segment Reporting" as notified by Companies (Accounting Standards) Rules, 2006 (as amended) is not applicable.

Note 31: Details of Loans given, Investments made, guarantees given covered under Section 186(4) of The Companies Act, 2013

Since your Company is one of the RBI registered NBFC (Non-deposit taking Company), provision of Section 186 of the Companies Act, 2013 are not applicable to the Company.

Note 33: There are no Micro and Small Scale Business Enterprises, to whom the Company owes dues, which are outstanding for more than 45 days as at March 31, 2025. This information as required to be disclosed under Micro, Small and Medium Enterprises Development Act, 2006 has been determined to the extent such parties have been identified on the basis of information available with the Company.

b) The Company has not acquired, any loans not in default during the year ended March 31, 2025.

c) The Company has not transferred or acquired, any stressed loans during the year ended March 31, 2025.

Note 38:

Other Notes to Accounts

i. In the opinion of the management, current assets, loans and advances and other receivables are approximately of the value stated, if realized in the ordinary course of business. The provisions of all known liability are ascertained, except for Trade Receivables. Since the receivables are dues for more than one year, we are not certain about the recoveries of the same. The Company is confident of receiving the dues and hence no contingency liabilities have been provided.

ii. Previous year figures have been restated to confirm the classification of the current year.

iii. Balances of Sundry Debtors, Unsecured Loans, and Sundry Creditors are Loans & Advances are subject to reconciliation, since conformations have not been received from them. Necessary entries will be passed on receipt of the same if required.

iv. The company has not provided for Gratuity and Leave Encashment to Employees on accrual basis, which is not in conformity with AS-15 issued by ICAI. However, in the opinion of management the amount involved is negligible and has no impact on Statement of Profit & Loss.

v. Previous year figures have been regrouped / rearranged wherever necessary to conform current year''s figure. However same is not material.

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Mar 31, 2024

(d) Terms and rights attached to Equity Shares:

The Company has issued only one class of Equity Shares having a Face Value of ? 1/- per share. Each holder of Equity Shares is entitled to one vote per share. In the event of liquidation of the Company, the holders of Equity Shares will be entitled to receive remaining assets of the Company, after distribution of all preferential amounts. The distribution will be in proportion to the number of Equity Shares held by the shareholders.

Nature and purpose of other Reserves General Reserve

The general reserves are the retained earnings of a Company which are kept aside out of Company''s profits to meet future (known or unknown) obligations. The general reserve is a free Reserve which can be utilized for any purpose after fulfilling certain conditions.

Statutory Reserve (Reserve u/s. 45-IC of the Reserve Bank of India Act, 1934 (the "RBI Act, 1934"))

This reserve created as per the provision of the Section 45-IC of the Reserve Bank of India Act, 1934 (the "RBI Act"). Non-Banking Finance Company is required to transfer an amount not less than 20 per cent of its net profit to a Reserve Fund before declaring any dividend. Appropriation from this Statutory reserve is permitted only for the purposes specified by RBI.

Retained Earnings

Retained earnings are profits earned by the Company after transfer to general reserve, Statutory reserve in terms of section 45-IC(i) of the Reserve Bank of India Act, 1934 and payment of dividend to shareholders.

Note 26 — Contingent Liabilities not provided for a) The Company does not have any contingency Liability as on the Closing of current financial year. b) Details of pending Income Tax Demands which are under various stages of appeal are as under -
	Name of the Statue	Nature of Dues	Disputed Amount	Financial Year for which it relates	Forum where dispute is pending
	Income Tax Act, 1961	Income Tax	16,67,660	2013-14	CIT (Appeal)
	Income Tax Act, 1961	Income Tax	81,340	2014-15	CIT (Appeal)
	Income Tax Act, 1961	Income Tax	32,56,275	2016-17	CIT (Appeal)
	Income Tax Act, 1961	Income Tax	74,06,420	2016-17	CIT (Appeal)

Remarks:

(a) Trade Receivables amounting of Rs. 174.61 Lakhs are receivable since long time. As per management explanation, these are recoverable and company is in process to recover.

(b) Other interest free advances (shown under other financial assets) amounting of Rs. 2091.34 Lakh given as advances to various parties for share purchase of various companies. Out of the 2059.44 lakhs advances are outstanding since long time. As per management explanation these are fully recoverable and company is in process to recover.

(c) Some of the balances of Trade Receivables, Deposits, Loans and Advances, Trade payable are subject to confirmation from the respective parties and consequential reconciliation/adjustment arising there from, if any.

(d) We draw attention to Notes in respect of incomplete Supporting bills, documents etc. of Supporting for some of the expenditure of ''revenue nature for the quarter ended March 31,2024 as well as the year-to-date results for the period from April 01, 2023 to March 31, 2024.

(e) The company has Net Tax Asset of Rs. 112.28 Lakhs (Shown under Current Tax Assets) as on 31^st March 2024 pertaining to various years. As per the management, company is in process to reconcile with tax department.

(f) The Company has not complied with provision if Ind AS- 19 for employee benefits. As per the management, company is in process to comply the same.

Note 27: Other Statutory Information

(a) The Company has not entered into 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.

(b) The Company has complied with the number of layers prescribed under clause (87) of Section 2 of the Act read with the Companies (Restriction on number of Layers) Rules, 2017.

(c) The Company is not declared willful defaulter by any bank or financial institution or other lenders.

(d) The Company has not traded or invested in crypto currency or virtual currency during the financial year.

(e) The Company has not revalued its property, plant and equipment (including right-of-use assets) during the year.

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

(g) There is no instance of Loans or Advances in the nature of loans are granted to promoters, directors, KMPs and the related parties (as defined under Companies Act, 2013,) either severally or jointly with any other person, during the year.

Note 28: Corporate Social Responsibility

The Company does not meet the criteria specified in sub section (1) of section 135 of the Companies Act, 2013, read with Companies [Corporate Social Responsibility (CSR)] Rules, 2014. Therefore it is not required to incur any expenditure on account of CSR activities during the year.

Note 29: Segment Reporting -

The company is primarily engaged in the single business of trading in shares and securities and there is no reportable secondary segment i.e. geographical segment. Hence, the disclosure requirement of Accounting Standard-17 "Segment Reporting" as notified by Companies (Accounting Standards) Rules, 2006 (as amended) is not applicable.

Note 31: Details of Loans given, Investments made, guarantees given covered under Section 186(4) of The Companies Act, 2013

Since your Company is one of the RBI registered NBFC (Non-deposit taking Company), provision of Section 186 of the Companies Act, 2013 are not applicable to the Company.

Note 33: There are no Micro and Small Scale Business Enterprises, to whom the Company owes dues, which are outstanding for more than 45 days as at March 31, 2024. This information as required to be disclosed under Micro, Small and Medium Enterprises Development Act, 2006 has been determined to the extent such parties have been identified on the basis of information available with the Company.

1. Variation in Current Ratio is due to decrease in value of Investments during FY 2023-24 in comparison to FY 2022-23.

2. Variation in Return on Equity Ratio is due to increase in Profit during FY 2023-24

3. Variation in Inventory turnover Ratio is due to increase in Sales during FY 2023-24

4. Variation in Trade Receivable is due to increase in credit sales.

5. Variation in Net Capital T urnover Ratio is due to increase in revenue during FY 2023-24.

6. The variation for Return of Investment is due to profit on sale of Shares & Securities.

7. The variations in Return on Capital Employed is due increase in revenue during FY 2023-24.

8. The variations in Return on Investment is due increase in revenue during FY 2023-24.

Note 38:

Other Notes to Accounts

i. In the opinion of the management, current assets, loans and advances and other receivables are approximately of the value stated, if realized in the ordinary course of business. The provisions of all known liability are ascertained, except for Trade Receivables. Since the receivables are dues for more than one year, we are not certain about the recoveries of the same. The Company is confident of receiving the dues and hence no contingency liabilities have been provided.

ii. Previous year figures have been restated to confirm the classification of the current year.

iii. Balances of Sundry Debtors, Unsecured Loans, and Sundry Creditors are Loans & Advances are subject to reconciliation, since conformations have not been received from them. Necessary entries will be passed on receipt of the same if required.

iv. The company has not provided for Gratuity and Leave Encashment to Employees on accrual basis, which is not in conformity with AS-15 issued by ICAI. However, in the opinion of management the amount involved is negligible and has no impact on Statement of Profit & Loss.

v. Previous year figures have been regrouped / rearranged wherever necessary to conform current year''s figure. However same is not material.

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Mar 31, 2016

1. Segment reporting

2. Primary Segment Reporting (by Business Segments)

3. The Company''s business segments are identified as Commodity Transaction, Investment in Shares Si Securities and money lending Activities

4. The accounting polices used in the preparation of the financial statement of the Company are also applied for segment reporting.

5. Segment revenuers, expenses, assets and liabilities are those, which are directly attribute to the segment or are allocated on an appropriate basis. Corporate and other revenues, expenses, assets and liabilities to the extent not allocable to segments are disclosed in the reconciliation of reportable segments with the financials.

6. Figures in brackets are in respect of the previous year.

7. Segment Revenues , result and other Information.

8. Secondary Segment reporting (by Geographical Segments)

The Company Operates predominately within the geographical limits of India. It has no secondary Segment _revenue._

9. Related Party Disclosure

Related party disclosures, as required by AS-1S, "Related party Disclosures" are given below

10. Relationships

11. Related parties where common control exists

Name of the Companies where the directors can exercise the control.

No Control Exists

12. Key Management Personnel

Mr. Vijay Jaideo Poddar - Managing Director

Mr. Gautam Bose - Director

Mr. L. N. Sharma - Director

13. Transactions with related parties

No Transactions were Carried out during the year with the Related party.

14. The previous year''s figures have been reworked, regrouped, rearranged and reclassified wherever necessary. Amounts and other disclosures for the preceding year are included as an integral part of the current year financial statements and are to be in relation to the amounts and other disclosures relating to the current year.

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Mar 31, 2015

1. The Profit and Loss Account for the year includes certain expenses which are supported only by internal vouchers duly approved as per authorised limits assigned at each levels and in some cases third party evidence/invoices are not available. The board of Directors of the Company has approved such expenses as in the opinon of the Board of Directors, the company has incured such expenses wholly and exclusively attributable to the business if the company and the nature of such expenses are consistent with the previous years.

2. During the year, the Company has incurred certain expenditure of revenue nature, adequate supporting in respect of some of them are not available, however in the opinion of the Board of Directors of the Company, the same is wholly and exclusively attributable to the business of the Company.

3. In the opinion of the Board, the Current Assets, Sundry Debtors, Sundry Creditors, Loans & Advances have a value on realisation in the ordinary course of business at least equal to the amount at which they are stated in the Financial Statements. The balances thereof are as per Books of Accounts only.

4. There is unpaid tax liability of Rs. 4,75,000/- for the A.Y. 2012-13.

5. segment reporting

A Primary Segment Reporting (by Business Segements )

i The Company's business segments are identified as Commodity Transcation, Investment in Shares & Securities and money lending Activities

ii The accounting polices used in the preparation of the financial statement of the Company are also applied for segment reporting.

iii Segment revenures, expenses, assets and liabilities are those, which are directly attribute to the segment or are allocated on an appropriate basis. Corporate and other revenues, expenses, assets and liabilities to the extent not allocable to segments are disclosed in the reconciliation of reportable segments with the financials.

iv Figures in brackets are in respect of the previous year.

v Segment Revenues, result and other Information.

B Secondry Segment reporting (by Geographical Segments)

The Company Operates predominately within the geographical limits of India. It has no secondary Segment revenue.

6. Related Party disclosure

Related party disclosures, as required by AS-18, "Related party Disclosures" are given below

a) Relationships

a) Related parties where commom control exists

Name of the Companies where the directors can exercise the control. *Ella Fintex Co. Private Limited (Mr. Vijay Jaideo Poddar was Director of the Company up to 16th February 2015)

b) Key Management Personnel

Mr. Vijay Jaideo Poddar - Managing Director

Mr. Gautam Bose - Director

Mr. L. N. Sharma - Director

B) transactions with related parties

No Transcations were Carried out during the year with the Related party.

7. The previous year's figures have been reworked, regrouped, rearranged and reclassified wherever necessary. Amounts and other disclosures for the preceding year are included as an integral part of the current year financial statements and are to be in relation to the amounts and other disclosures relating to the current year.

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Mar 31, 2014

1.1 During the year, the company has incurred certain expenditure for which, adequate supporting documents relating to third party invoices are not available. The Management maintains only internal vouchers, which are duly approved as per the authorised limits assigned at each level. The board of directors of company approved the said expenses as in the opinion of the Management. As per the Management the Company has incurred these expenditures, wholly and exclusively for the business of the Company and the nature of the expenses is consistent with the previous years.

1.2 In the opinion of the Board, the Current Assets, Sundry Debtors, Sundry Creditors, Loans & Advances have a value on realisation in the ordinary course of business at least equal to the amount at which they are stated in the Financial Statements. The balances thereof are as per Books of Accounts only.

1.3 Segment Reporting

A) Primary Segment Reporting (by Business Segments)

i. The Company''s business segments are identified as Textile Business, Investments in Shares & Securities and Money lending Activities.

ii. The accounting policies used in the preparation of the financial statements of the Company are also applied for segment reporting.

iii. Segment revenues, expenses, assets and liabilities are those, which are directly attributable to the segment or are allocated on an appropriate basis. Corporate and other revenues, expenses, assets and liabilities to the extent not allocable to segments are disclosed in the reconciliation of reportable segments with the financials.

iv. Figures in brackets are in respect of the previous year.

v. Segment Revenues, Results and Other Information:

B) Secondary Segment Reporting (by Geographical Segments)

The Company operates predominately within the geographical limits of India. It has no secondary Segment Revenue

1.4 RELATED PARTY DISCLOSURE

Related party disclosures, as required by AS - 18, "Related Party Disclosures" are given below:

A) Relationships

a) Related parties where common control exists

Name of the Companies where the directors can exercise the control - Ella Fintex Co. Private Limited

b) Key Management Personnel

Mr. Vijay Jaideo Poddar - Managing Director

Mr. Gautam Bose - Director

Mr. L. N. Sharma - Director

B) Transactions with Related Parties-

No Transactions were carried out during the year with the Related Party.

1.5 EARNING PER SHARE

No Potential Equity Shares were outstanding as on 31.03.2014 and hence Basics and Diluted Earnings per Shares are same.

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Mar 31, 2013

Note 1: RELATED PARTY DISCLOSURE

Related party disclosures, as required by AS - 18, "Related Party Disclosures" are given below:

A) Relationships

a) Related parties where common control exists

Name of the Companies where the directors can exercise the control - Ella Fintex Co. Private Limited

b) Key Management Personnel

Mr. Vijay Jaideo Poddar - Managing Director

Mr. Gautam Bose - Director

Mr. L. N. Sharma - Director

B) Transactions with Related Parties-

No Transactions were carried out during the year with the Related Party.

Note 2: EARNING PER SHARE

No Potential Equity Shares were outstanding as on 31.03.2013 and hence Basics and Diluted Earning Per Shares are Same.

Note 3: NBFC DISCLOSURE

The Disclosure as required in terms of Paragraph "13" of Non-Banking Financial (Deposit Accepting or Holding) Companies Prudential Norms (Reserve Bank of India, 2007) is given by way of Annexure to the Balance Sheet.

Note 4:

The Company has issued 12,17,000 new Equity Shares through the Postal Ballot dated 16 June 2012 under Section 81(1A) and other applicable provision of the Company Act, 1956. These shares have been allotted at a price of Rs.10/- Per Share at a premium of Rs. 265/- per share which is in accordance with the Preferential Issue Guidelines issued by Securities and Exchange Board of India.

Note 5:

Balances of Sundry Debtors, Unsecured Loans, Sundry Creditors and Loans & Advances are subject to reconciliation, since confirmations have not been received from them. Necessary entries shall be passed on the receipt of the same if required.

Note 6:

In the opinion of the management, the Current Assets, Loans & Advances are approximately of the value stated, if realized in the ordinary course of business. The provisions for all known liabilities are ascertained.

Note 7:

The Company has not received the required information from suppliers regarding their status under the Micro, Small and Medium Enterprises Development Act, 2006. Hence disclosures, if any, relating to amounts unpaid as at the year end together with interest paid/payable as required under the said Act have not been made.

Note 8:

The Company has not provided for Gratuity and Leave Encashment to Employees on accrual basis, which is not in conformity with AS - 15 issued by ICAI. However, in the opinion of management the amount involved is negligible and has no impact on Profit & Loss Account.

Note 9:

Previous year''s figures have been grouped/ regrouped, arranged/rearranged wherever necessary to make them comparable.

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Mar 31, 2012

A. Equity shareholder holding more than 5% of equity shares along with the number of equity shares held is as given below

No shareholder is holding more than 5% shares of the company

b. The company has one class of Equity shares having a par value of Rs. 10/- each. Each shareholder is eligible to one vote per share held.

1.1 RELATED PARTIES DISCLOSURES (AS PER ACCOUNTING STANDARD 18)

1. Relationship

a. Wholly Owned Company - Not Any

b. Associate Company - None

c. Company under the Common Control of Promoters - None

d. Key Management Personnel Goutam Bose

Nand Kishore Fogla

2. Transactions

There has been no related parties transactions during the year under review.

1.2 DISCLOSURE FOR PAYMENT TO MICRO, SMALL & MEDIUM ENTERPRISES

The Company has not received any intimation from their suppliers regarding their status under the Micro, Small and Medium Enterprises Development Act, 2006 and hence disclosure, if any, relating to the amount unpaid as at the year end together with interest paid / payable as required under the said Act, have not been given.

1.3 NBFC DISCLOSURE

The Disclosure as required in term of Paragraph "13" of Non-Banking Financial (Deposit Accepting or Holding) Companies Prudential Norms (Reserve Bank of India, 2007) is given by way of Annexure to the Balance Sheet.

1.4 IMPAIREMENT OF ASSETS

Company Management during the year have carried out technographical evaluation for identification of Assets, if any, in accordance with Accounting Standard 28. Based on the judgement of the Management and as certified by Directors, no provision for impairement is found to be necessary in respect of any Assets.

Note : 1.5

The revised Schedule VI has been become effective from 1 st April 201 1 for the preparation of Financial Statements. This has significantly impacted the disclosure and presentation made in the financial statements. Previous Years' figures have been regrouped/re-classified wherever necessary to the correspond with the current year classifications / disclosures.

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Mar 31, 2011

1. In the opinion of the Board, Current Assets, Loans and Advances are approximately of the value state, if realized in the ordinary course of business. Provisions for all known liabilities are adequate and not in excess of the amount considered necessary for the same.

Contingent Liabilities

2. Contingent Liabilities not provided for - Rs. Nil

Particulars of Director's Remuneration (In Rupees)

3. Rs.24000/- has been paid to Non-Executive Director as Directors' Sitting Fees for the Year (P.Y. Rs.24000/-)

Differed Tax on Income

4. The differed tax has not been recognized in financial statement, as there is no reasonable certainty of Future Taxable Income.

5. Sundry Debtors and creditors are subject to confirmation and reconciliation.

6. There are no Micro and Small Scale Business Enterprises, to whom the Company owes dues, which are outstanding for more than 45 days as at March 31, 2011. This information as required to be disclosed under Micro, Small and Medium Enterprises Development Act, 2006 has been determined to the extent such parties have been identified on the basis of information available with the Company.

7. Information pursuant to provisions of paragraph 3,4(C) and 4(D) of Part II of Schedule VI of the Companies Act, 1956 to the extent applicable is as under:

Details of sales and purchases in respect of stock in trade:

8. Previous years' figures have been regrouped, rearranged wherever necessary to make them comparable with those of current year.

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Mar 31, 2010

1. In the opinion of the Board, Current Assets, Loans and Advances are approximately of the value state, if realized in the ordinary course of business. Provisions for all known liabilities are adequate and not in excess of the amount considered necessary for the same.

Contingent Liabilities

2. Contingent Liabilities not provided for - Rs. Nil

Particulars of Directors Remuneration (In Rupees)

3. Rs.24000/- has been paid to Directors as Directors Sitting Fees for the Year (RY. Rs.24000/-)

Related Party Transactions

4. Key Management Personnel -

1. Mr. Vijay J. Poddar

2. Mr. Manish Baid

3. Mr. Giriraj Kishore Agarwal

4. Mr. Goutam Bose

5. Mr. L N. Sharma

Subsidiary & Group Companies or Companies under same management - N.A.

Differed Tax on Income

5. The differed tax has not been recognized in financial statement, as there is no reasonable certainty of Future Taxable Income.

6. Sundry Debtors and creditors are subject to confirmation and reconciliation.

7. There are no Micro and Small Scale Business Enterprises, to whom the Company owes dues, which are outstanding for more than 45 days as at March 31, 2010. This information as required to be disclosed under Micro, Small and Medium Enterprises Development Act, 2006 has been determined to the extent such parties have been identified on the basis of information available with the Company.