Prudential Sugar Corporation Ltd. के अकाउंट के लिये नोट

Mar 31, 2025

12. Provisions:

• A provision is recognized when there exists a present obligation as a result of past events and it is probable
that an outflow of resources embodying economic benefits will be required to settle the obligation, and a
reliable estimate can be made of the amount of the obligation. Provisions are not discounted to present
value and are determined based on best estimates required to settle the obligation at the reporting date.
These estimates are reviewed at each reporting date and adjusted to reflect the current best estimates.

13. Contingent liabilities:

• A contingent liability is a possible obligation that arises from past events whose existence will be confirmed
only by the occurrence or non-occurrence of one or more uncertain future events beyond the control of
the Company or a present obligation that is not recognized because it is not probable that an outflow of
resources will be required to settle the obligation. A contingent liability also arises in extremely rare cases
where there is a liability that cannot be recognized because it cannot be measured reliably; the Company
does not recognize a contingent liability but discloses its existence in the financial statements.

14. Cash and cash equivalent:

• Cash and cash equivalents for the purposes of cash flow statement comprise cash at bank and in hand and
short term deposits with banks with an original maturity of three months or less.

II. NOTES ON ACCOUNTS:

1. The Provision for Income tax has been made based on the computation as per the provisions of Income Tax
Act.

2. Provision for Gratuity is made at the time of Payment.

3. Since the company has only one segment, Segment reporting is not applicable to it.

4. The amount shown under receivables / payables is subject to confirmation from respective parties.

5. Previous year figures have been re-grouped / re-arranged wherever necessary.

14. Related party disclosures (as identified by the management) as per Accounting Standard 18 are as given
below:

Names of related parties, description of relationship and amount outstanding as on 31st March, 2025.

15. In respect of the above parties, there is no provision for doubtful debts as on 31st March, 2025 and no amount

has been written off or written back during the year in respect of debts due from/to them.

16. Contingent Liabilities

1. The Company has issued 16% Cumulating Redeemable Preference Shares to promoters in the year 1995¬
96 redeemable on or before 12.01.2005 which is pending redeemable to the tune of '' 8.00 Lacs. The
company has also issued 16% Cumulative Redeemable Preference shares for '' 400.00 Lacs in the year
1996-97 redeemable on or before 10.02.2006. The company could not redeem the above shares in time
as it was registered with BIFR. If redeemed with accumulative dividend the liability is to be ascertained
in terms of the modified SEBI rules.

2. Income Tax claim of '' 70.76 Lacs for A.Y. 2013-14 against which appeal is pending with Appellate
Authority. The Company has paid '' 10.62 Lacs against above claim.(as on date status to be ascertained)

3. The company during the financial year 2022-23 has received order from the office of the commissioner
of Central Excise, GST Commissionerate, Tirupati, confirming recovery of '' 161.18 Lacs towards Service
Tax payable on GTA Services availed by the company during the period from 01.01.2005 to 31.03.2009
along with recovery of interest and penalty under Section 75 & 78 of the Finance Act 1994 respectively.
However, the Company had preferred an appeal before the Commissioner of Central Tax and Customs
(Appeal), Guntur, to set aside the impugned order. The matter is presently pending adjudication after
Personal Hearing to be granted to the Company to present our Case.

4. The Company is contesting appropriately all legal cases in the matter related to Mr.Chadlavada Krishna
Moorty.

As per our report attached For and behalf of the Board

Prudential Sugar Corporation Limited

For PPKG & CO Vinod Baid Mahip Jain

Chartered Accountants Chairman Director

Firm Registration No.009655S DIN # 00010142 Din # 07130462

GIRIDHARI LAL TOSHNIWAL Anit Surana Sandeep Daga

Chief Finance Officer Company Secretary

Partner

M.No 205140

UDIN : 25205140BMOPDC2197

Date : 30.05.2025

Place : Hyderabad

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Mar 31, 2024

12. Provisions:

• A provision is recognized when there exists a present obligation as a result of past events and it is probable that an outflow of resources embodying economic benefits will be required to settle the obligation, and a reliable estimate can be made of the amount of the obligation. Provisions are not discounted to present value and are determined based on best estimates required to settle the obligation at the reporting date. These estimates are reviewed at each reporting date and adjusted to reflect the current best estimates.

13. Contingent liabilities:

• A contingent liability is a possible obligation that arises from past events whose existence will be confirmed only by the occurrence or non-occurrence of one or more uncertain future events beyond the control of the Company or a present obligation that is not recognized because it is not probable that an outflow of resources will be required to settle the obligation. A contingent liability also arises in extremely rare cases where there is a liability that cannot be recognized because it cannot be measured reliably; the Company does not recognize a contingent liability but discloses its existence in the financial statements.

14 Cash and cash equivalent:

• Cash and cash equivalents for the purposes of cash flow statement comprise cash at bank and in hand and short term deposits with banks with an original maturity of three months or less.

II. NOTES ON ACCOUNTS:

1. The Provision for Income tax has been made based on the computation as per the provisions of Income Tax Act.

2. Provision for Gratuity is made at the time of Payment.

3. Since the company has only one segment, Segment reporting is not applicable to it.

4. The amount shown under receivables / payables is subject to confirmation from respective parties.

5. Previous year figures have been re-grouped / re-arranged wherever necessary.

6. Particulars of Employees:

16. In respect of the above parties, there is no provision for doubtful debts as on 31st March, 2024 and no amount has

been written off or written back during the year in respect of debts due from/to them.

17. Contingent Liabilities

1) The Company has issued 16% Cumulating Redeemable Preference Shares to promoters in the year 1995-96 redeemable on or before 12.01.2005 which is pending redeemable to the tune of Rs. 8.00 Lacs. The company has also issued 16% Cumulative Redeemable Preference shares for RS.400.00 Lacs in the year 1996-97 redeemable on or before 10.02.2006. The company could not redeem the above shares in time as it was registered with BIFR. If redeemed with accumulative dividend the liability is to be ascertained in terms of the modified SEBI rules.

2) Income Tax claim of Rs.70.76 Lacs for A.Y. 2013-14 against which appeal is pending with Appellate Authority. The Company has paid Rs. 10.62 Lacs against above claim.(as on date status to be ascertained)

3) The company during the financial year 2022-23 has received order from the office of the commissioner of Central Excise, GST Commissionerate, Tirupati, confirming recovery of Rs.161.18 Lacs towards Service Tax payable on GTA Services availed by the company during the period from 01.01.2005 to 31.03.2009 along with recovery of interest and penalty under Section 75 & 78 of the Finance Act 1994 respectively.

However, the Company had preferred an appeal before the Commissioner of Central Tax and Customs (Appeal), Guntur, to set aside the impugned order. The matter is presently pending adjudication after Personal Hearing to be granted to the Company to present our Case.

4) The Company is contesting appropriately all legal cases in the matter related to Mr.Chadlavada Krishna Moorty.

As per our report of even date attached.

For PPKG & CO For and on behalf of Board

Chartered Accountants

Firm Registration No. 009655S Vinod Baid Y. Ravinder Reddy

GIRDHARI LAL TOSHNIWAL Chairman Director

Partner DIN:00010142 DIN:00011040

M.No.205140

UDIN:24205140BKALJA8365

Date : 30.05.2024 Anit Surana Sandeep Daga

Place : Hydearabad Chief Finance Officer Company Secretary

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Mar 31, 2023

12. Provisions:

• A provision is recognized when there exists a present obligation as a result of past events and it is probable that an outflow of resources embodying economic benefits will be required to settle the obligation, and a reliable estimate can be made of the amount of the obligation. Provisions are not discounted to present value and are determined based on best estimates required to settle the obligation at the reporting date. These estimates are reviewed at each reporting date and adjusted to reflect the current best estimates.

13. Contingent liabilities:

• A contingent liability is a possible obligation that arises from past events whose existence will be confirmed only by the occurrence or non-occurrence of one or more uncertain future events beyond the control of the Company or a present obligation that is not recognized because it is not probable that an outflow of resources will be required to settle the obligation. A contingent liability also arises in extremely rare cases where there is a liability that cannot be recognized because it cannot be measured reliably; the Company does not recognize a contingent liability but discloses its existence in the financial statements.

14. Cash and cash equivalent:

• Cash and cash equivalents for the purposes of cash flow statement comprise cash at bank and in hand and short term deposits with banks with an original maturity of three months or less.

II. NOTES ON ACCOuNTS:

1. The Provision for Income tax has been made based on the computation as per the provisions of Income Tax Act.

2. Provision for Gratuity is made at the time of Payment.

3. Since the company has only one segment, Segment reporting is not applicable to it.

4. The amount shown under receivables / payables is subject to confirmation from respective parties.

5. Previous year figures have been re-grouped / re-arranged wherever necessary.

6. Particulars of Employees:

16. In respect of the above parties, there is no provision for doubtful debts as on 31st March, 2023 and no amount has

been written off or written back during the year in respect of debts due from/to them.

17. Contingent Liabilities

1. The Company has issued 16% Cumulating Redeemable Preference Shares to promoters in the year 199596 redeemable on or before 12.01.2005 which is pending redeemable to the tune of Rs. 8.00 Lacs. The company has also issued 16% Cumulative Redeemable Preference shares for RS.400.00 Lacs in the year 199697 redeemable on or before 10.02.2006. The company could not redeem the above shares in time as it was registered with BIFR. If redeemed with accumulative dividend the liability is to be ascertained in terms of the modified SEBI rules.

2. Income Tax claim of Rs.70.76 Lacs for A.Y. 2013-14 against which appeal is pending with Appellate Authority. The Company has paid Rs. 10.62 Lacs against above claim.(as on date status to be ascertained)

3. The Income Tax Appeal is pending before the CIT(A)- National Faceless Appeal Centre for the Assessment Year 2017-18 against the order of the ITO assessing tax amount of Rs. 2095 Lacs , the company is contesting appeal appropriately and hopeful to gat demand reversed.

4. The Income Tax Appeal is pending before the CIT(A)- National Faceless Appeal Centre for the Assessment Year 2018-19 against the order of the ITO assessing tax amount of Rs.763 Lakhs , the company is contesting appeal appropriately and hopeful to get demand reversed.

5. The company during the financial year 2022-23 has received order from the office of the commissioner of Central Excise, GST Commissionerate, Tirupati, confirming recovery of Rs.161.18 Lacs towards Service Tax payable on GTA Services availed by the company during the period from 01.01.2005 to 31.03.2009 along with recovery of interest and penalty under Section 75 & 78 of the Finance Act 1994 respectively.

6. However, the Company had preferred an appeal before the Commissioner of Central Tax and Customs (Appeal), Guntur, to set aside the impugned order. The matter is presently pending adjudication after Personal Hearing to be granted to the Company to present our Case.

7. The Company is contesting appropriately all legal cases in the matter related to Mr.Chadlavada Krishna Moorty.

As per our report of even date attached For and on behalf of Board

For PPKG & CO Prudential Sugar Corporation Limited

Chartered Accountants

Firm Registration No. 0096555

GIRDHARI LAL TOSHNIWAL Vinod Baid Y Raninder Reddy

Partner Chairman Director

M.No.205140 DIN:00010142 DIN:00011040

UDIN No: 23205140BGUNHY3510

Date : 30.05.2023 Anit Surana Sandeep Daga

Place: Hyderabad Chief Finance Officer Company Secretary

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Mar 31, 2014

1. SHARE CAPITAL

1.1. The Opening and closing balance of the Subscribed and Paid-up equity shares of the company are same, hence, the reconciliation between opening number and closing number of shares does not arise.

2. LONG TERM BORROWINGS

2.1 Loan from IIBI is Secured by 1st Charge on the Fixed Assets of the company and guaranteed by one of the director and one former director.

3. CURRENT LIABILITIES

3.1 The above borrowings from banks are Secured by Hypothecation of Inventories, Book debts and also secured by 2nd charge on all the fixed assets of the company, further guaranteed by one Director/one former director and three corporate bodies.

4. a. Contingent Liabilities/Liabilities not provided

1. Company has entered into a Settlement Agreement with Ashok Leyland Finance Limited for Rs. 28.52 lacs payable in 3 installments. Out of the the said settled amount company has already paid a sum of Rs.20 lacs. The Company has requested further time for payment of balance amount and the same is under consideration of M/s. Ashok Leyland Finance Limited. On receipt of the full amount the cases will be withdrawn by Ashok Leyland Finance Limited. In case of failure, an additional amount of Rs. 14.93 lacs (PY - Rs. 13.87 lacs) to be further provided in the Books of Accounts.

2. Claims Rs.22.08 Lacs (P.Y.- Rs. 22.08 Lacs) by Soubhagya Advertising Associates for services for which an appeal is pending with High Court of Andhra Pradesh.

3. Counter guarantee given by company against Bank Guarantee is Rs.25.00 Lacs (Previous Year Rs. 25.00 lacs).

4. Sales Tax claim of Rs. 22.80 Lacs (Previous Year Rs. 22.80 Lacs) for which an appeal is pending with High Court of Andhra Pradesh. The Company has paid Rs. 11.65 lacs (P.Y. Rs. 11.65 lacs) against above claim which is shown as deposit recoverable in the books of accounts.

5. The Company has issued 16% Cumulative Redeemable Preference Shares to promoters in the year 1995-96 redeemable on or before 12.01.2005 which is pending redeemable to the tune of Rs.8 lacs. The Company had also issued 16% Cumulative Redeemable Preference Shares for Rs.400 lacs in the year 1996-97 redeemable on or before 10.02.2006. The Company could not redeem the above shares in time as it was registered with BIFR,if redeemed with accumulative dividend the liability upto 31.03.2014 shall stand to Rs. 4801.48 lacs (P.Y. Rs. 4082.93 Lacs) on account of Dividend.

6. Disputed claim of interest on delayed payment of Purchase Tax Rs. 362.72 lacs. (P.Y. Rs.362.72 lacs).

7. Disputed claim of penal charges on delayed payment of Provident Fund Rs. 9.87 lacs. (P.Y. Rs. 9.87 lacs).

b. IIBI

Company is in the process to negotiate the outstanding amount payable to IIBI which was purchased by Edelweiss Assets Management Company Limited, Mumbai. There is outstanding of Rs. 11.27 lacs payable in the books of accounts. Pending Final settlement no provision has been made in the books of accounts for interest etc.

** No provision is considered necessary since the company expects favorable decision/fulfilling obligation in all the above cases.

c. The Company''s reference application, based on 2007-08 financials, before BIFR has been dismissed and the Company had preferred an Appeal against the BIFR''s Order before the AAIFR. AAIFR was pleased to admit the Company''s Appeal which is presently being heard. The Company expects that a verdict will be delivered by the AAIFR after completion of pleadings and arguments and counter-arguments of the parties concerned.

d. Balance in Trade Receivables, Trade payables, Secured Loans, Unsecured Loans, Loans and Advances, Other Current Assets and Current Liabilities are subject to reconciliation/confirmation. In the opinion of the management Trade Receivables, Loans and Advances and other Current Assets are fully realizable.

e. The Company is in the process to obtain the actuarial value for Gratuity and Leave Encashment. As such the same is not provided for the current year. However the Amount paid during the year is debited to Profit and Loss account.

f. There are no Micro and Small Enterprises to whom the company owes amounts which are outstanding as at 31st March 2014. The information as required to be disclosed under the Micro, Small and Medium Enterprises Development Act, 2006 (MSME) has been determined on the basis of and to the extent information is available with the company. No interest is paid/payable during the year to any enterprises registered under the MSME.

g. The company operation consists only one segment - Sugar and therefore the figures given relates to one segment.

h. Disclosure Pursuant To AS-28 on "IMPAIRMENT OF ASSETS"

The Company during the year, has reviewed carrying value of the Assets for finding out the impairment, if any. The review has not revealed any impairment of Assets.

i. RELATED PARTY DISCLOSURES

RELATED PARTIES

A. KEY MANAGERIAL PERSONNEL

Sri Vinod Baid, Chairman

Sri Ch Krishnamoorthy, Managing Director (till 16.05.2013)

B. Relatives of Key Managerial Personnel

Ms Aruna Ramni Krishna

Ms Kavita C

Ms Sucharita

Ms Sumalatha

C. ENTERPRISES IN WHICH KEY MANAGERIAL PERSONNEL ARE INTERESTED

O.R. Distilleries

VAB Ventures Ltd.

j. Additional Information:

Additional information pursuant to the provision of the paragraph, 3, 4C & 4D of part II of Schedule VI of the Companies Act, 1956.

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Mar 31, 2013

A. Contingent Liabilities / Liabilities not provided

1. Company has entered into a Settlement Agreement with Ashok Leyland Finance Limited for Rs. 28.52 lacs payable in 3 installments. Out of the the said settled amount company has already paid a sum of Rs.20 lacs. The Company has requested further time for payment of balance amount and the same is under consideration of M/s. Ashok Leyland Finance Limited. On receipt of the full amount the cases will be withdrawn by Ashok Leyland Finance Limited. In case of failure, an additional amount of Rs. 13.87 lacs (PY - Rs.12.81 lacs) to be further provided in the Books of Accounts.

2. Claims Rs.22.08 Lacs ( P.Y.- 22.08 Lacs) by Soubhagya Advertising Associates for services for which an appeal is pending with High Court of Andhra Pradesh.

3. Counter guarantee given by company against Bank Guarantee is Rs.25.00 Lacs (Previous Year Rs. 25.00 lacs).

4. Sales Tax claim of Rs.22.80 Lacs (Previous Year Rs. 22.80 Lacs) for which an appeal is pending with High Court of Andhra Pradesh. The Company has paid Rs. 11.65 lacs (P.Y. Rs.11.65 lacs) against above claim which is shown as deposit recoverable in the books of accounts.

5. The Company has issued 16% Cumulative Redeemable Preference Shares to promoters in the year 1995-96 redeemable on or before 12.01.2005 which is pending redeemable to the tune of Rs.8 lacs. The Company had also issued 16% Cumulative Redeemable Preference Shares for Rs.400 lacs in the year 1996-97 redeemable on or before 10.02.2006. The Company could not redeem the above shares in time as it was registered with BIFRJf redeemed with accumulative dividend the liability upto 31.03.2013 shall stand to Rs.4082.93 lacs (P.Y.Rs.3463.49 Lacs) on account of Dividend.

6. Disputed claim of interest on delayed payment of Purchase Tax Rs. 362.72 lacs. (P.Y. Rs.362.72 lacs)

7. Disputed claim of penal charges on delayed payment of Provident Fund Rs. 9.87 lacs. (P.Y.Rs. 9.87 lacs)

b. IIBI Company is in the process to negotiate the outstanding amount payable to IIBI which was purchased by Edelweiss Assets Management Company Limited, Mumbai. During the year company has paid a sum of Rs.313 lacs and there is outstanding of Rs. 11.27 lacs payable. Pending Final settlement no provision has been made in the books of accounts for interest etc.

c. The Company''s reference application, based on 2007-08 financials, before BIFR has been dismissed and the Company had preferred an Appeal against the BIFR''s Order before the AAIFR. AAIFR was pleased to admit the Company''s Appeal which is presently being heard. The Company expects that a verdict will be delivered by the AAIFR after completion of pleadings and arguments and counter-arguments of the parties concerned.

d. Balance in Trade Receivables, Trade payables, Secured Loans, Unsecured Loans, Loans and Advances, Other Current Assets and Current Liabilities are subject to reconciliation/confirmation. In the opinion of the management Trade Receivables, Loans and Advances and other Current Assets are fully realizable.

e. The Company has entered into a settlement agreement with M/s. Sri Venkateswara Sugar and Industries Pvt. Ltd. & cleared the outstanding payable to them of Rs.245.50 lacs.

f. The Company is in the process to obtain the actuarial value for Gratuity and Leave Encashment

g. As such the same is not provided for the current year. However the Amount paid during the year is debited to Profit and Loss account.

h. There are no Micro and Small Enterprises to whom the company owes amounts which are outstanding as at 31st March 2013. The information as required to be disclosed under the Micro, Small and Medium Enterprises Development Act, 2006 (MSME) has been determined on the basis of and to the extent information is available with the company. No interest is paid/payable during the year to any enterprises registered under the MSME.

i. The company operation consists only one segment - Sugar and therefore the figures given relates to one segment.

j. Deferred Tax Assets

The major components of the Deferred Tax Assets/Liabilities are as under: Nature of timing difference Nature of timing difference

k. Disclosure Pursuant To AS-28 on" IMPAIRMENT OF ASSETS"

The Company during the year, has reviewed carrying value of the Assets for finding out the impairment, if any. The review has not revealed any impairment of Assets.

l. RELATED PARTY DISCLOSURES

m. RELATED PARTIES

A. KEY MANAGERIAL PERSONNEL

Sri Vinod Baid, Chairman

Sri Ch Krishnamoorthy, Managing Director

B. Relatives of Key Managerial Personnel

Ms Aruna Ramni Krishna

Ms Kavita C

Ms Sucharita

Ms Sumalatha

C. ENTERPRISES IN WHICH KEY MANAGERIAL PERSONNEL ARE INTERESTED

OR Distilleries

VAB Ventures Ltd.

Ammana Sugars Limited

n. Additional Information:

Additional information pursuant to the provision of the paragraph, 3,4C & 4D of part II of Schedule VI of the Companies Act, 1956.

o. Earnings in foreign currency— Nil

p. Previous year figures are recasted /rearranged wherever necessary.

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Mar 31, 2010

1. Contingent Liabilities / Liabilities not provided

a. Company has entered into a Settlement Agreement with Ashok Leyland Finance Limited or Rs. 28.52 lacs payable in 3 installments. Out of the the said settled amount company has already paid a sum of Rs.20 lacs. The Company has requested further time for payment of balance amount and the same is under consideration of M/s. Ashok Leyland Finance Limited. On receipt of the full amount the cases will be withdrawn by Ashok Leyland Finance Limited. In case of failure, an additional amount of Rs. 10.69 lacs (PY - Rs.9.63 lacs) to be further provided in the Books of Accounts.

b. Claims Rs.22.08 Lacs ( P.Y.- 22.08 Lacs) by Soubhagya Advertising Associates for services for which an appeal is pending with High Court of Andhra Pradesh.

c. Counter guarantee given by company against Bank Guarantee is Rs.2.57 Lacs (Previous Year Rs. 2.57 lacs).

d. Sales Tax claim of Rs.22.80 Lacs (Previous Year Rs. 22.80 Lacs) for which an appeal is pending with High Court of Andhra Pradesh. The Company has paid Rs. 11.65 lacs (RY. Rs.11.65 lacs) against above claim which is shown as deposit recoverable in the books of accounts.

e. The Company had issued 16% Cumulative Redeemable Preference Shares to promoters in the year 1995-96 redeemable on or before 12.01.2005 which is pending redeemable to the tune of Rs.8 lacs. The Company had also issued 16% Cumulative Redeemable Preference Shares for Rs.400 lacs in the year 1996-97 redeemable on or before 10.02.2006. The Company could not redeem the above shares in time as it was registered with BIFR, if redeemed with accumulative dividend the liability up to 31.03.2010 shall stand to Rs.2469.14 lacs (previous year Rs.2072.30 Lacs) on account of Dividend.

f. Disputed claim of interest on delayed payment of Purchase Tax Rs. 362.72 lacs. (P.Y. Rs.362.72 lacs)

g. Disputed claim of penal charges on delayed payment of Provident Fund Rs. 9.87 lacs.(P.Y. Rs.9.87 lacs)

2. IIBI

Company has entered in to One Time Settlement with IIBI on 27.11.2002 for a sum of Rs.444.27 Lacs. Out of the settled amount company has already paid Rs.120 Lacs. The balance amount was to be paid in 12 installments latest by 31.03.2005. Due to financial constraint company could not fulfill OTS proposal. IIBI has right to reverse the waiver of dues as envisaged in the scheme and restore the original liability as per the terms of the loan agreement entered in by the company as adjust the payment, received towards the same, in event of default of installment or interest on settled amount as envisaged in the sanction letter along with liquidated damages For delay in payment of installments the interest amounting to Rs.254.95 Lacs (P.Y.Rs.216.03 lacs) which includes Rs.38.92 Lacs (P.Y. Rs. 38.92 Lacs) for the Current Year, is not provided as the companys proposal for the waiver of the interest on settled amount is pending with them. And company is hopeful of getting waiver of the same.

4. Company has filed reference application before BIFR and also received reference number. The same has been dismissed and the company has filed an appeal against the order before AAIFR. Meanwhile company has filed another application before BIFR and this also has been dismissed and the company has filed an appeal against the order before AAIFR. Both the appeals are pending before AAIFR.

5. Balance in Sundry Debtors, Creditors, Secured Loans, Unsecured Loans, Loans and Advances, Other Current Assets and Current Liabilities are subject to reconciliation/confirmation. In the opinion of the management Debtors, Loans and Advances and other Current Assets are fully realizable.

6. During the year Company got conversion of its Working Capital loan into Term Loan amounting Rs. 597.50 lacs in December 2009 with a moratorium period of 2 years under Govt of India Scheme for Extending Financial Assistance to Sugar Undertakings.

7 The Company had entered into One Time Settlement for amount outstanding to IFCI in the year 2007. However the company could not pay a sum of Rs. 245.50 Lacs out of the above payable amount on or before 31.03.2009. IFCI Limited has advised the company vide their letter that the outstanding debt along with all the rights have been assigned by them to Sri Venketswara Sugar and Industries Limited. The Company have been approached by SVSIPL for settlement of Dues. which is in process. Pending settlement, an amount of interest on the said loan of Rs 36.82 lacs(P.Y-Nit) is not been provided in the books of account.

8. The KCP Limited

During the year company has fully settled the account of KCP Limited by payment of Rs. 250 Lacs under compromise decree with KCP Limited.

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

10.The company operation consists only one segment - Sugar and therefore the figures given relates to one segment.

11. Disclosure Pursuant To AS-28 on " IMPAIRMENT OF ASSETS"

The Company during the year, has reviewed carrying value of the Assets for finding out the impairment, if any. The review has not revealed any impairment of Assets.

12.RELATED PARTY DISCLOSURES

I. RELATED PARTIES

A. KEY MANAGERIAL PERSONNEL

Sri Vinod Baid, Chairman

Sri Ch Krishnamporthy, Managing Director

B. Relatives of Key Managerial Personnel

Ms Aruna Ramni Krishna

Ms Kavita C

Ms Sucharita

Ms Sumalatha

C. ENTERPRISES IN WHICH KEY MANAGERIAL PERSONNEL

O.R Distilleries

KrishnaTeja Group College

13.Additional Information:

Additional information pursuant to the provision of the paragraph, 3,4C & 4D of part II of Schedule VI of the Companies Act, 1956.

14. Earnings in foreign currency for sale of sugar — Nil

15. Previous year figures are recasted /rearranged wherever necessary.