Shentracon Chemicals Ltd. के अकाउंट के लिये नोट

Mar 31, 2025

i. Reconciliation of the Shares Outstanding at the beginning and at the end of the Reporting Periods.

There is no movement in the equity shares outstanding at the beginning and at the end of reporting period.

ii. Terms/ Right attached to Equity Shares

The Company has only one class of shares having a par value of Rs.10 per share fully paid up. Each holder of equity shares is entitled to one vote per share and the equity shares will rank pari passu with each other in all respects. The Board of Directors has not declared any dividend during the reporting period due to continues loss.

In the event of liquidation of the Company, the holders of equity shares will be entitled to receive remaining assets of the Company, after payment of all liabilities.

iii. Aggregate number of shares issued for consideration other than cash and shares bought back during the period of five years immediately preceding the year end:

i) Shares allotted as fully paid pursuant to contract(s) without payment being received in cash during the financial year 2019-20 to 2024-25:

Nil

ii) Shares issued in aggregate number and class of shares allotted by way of bonus shares during the financial year 201920 to 2024-25:

Nil

iii) Shares bought back during the financial year 2019-20 to 2024-25:

Nil

iv) Shares issued under employee stock option plan (ESOP) during the financial year 2019-20 to 2024-25:

Nil

v) Shares reserved for issue under options:

1) The Company has reclassify the authorised preference share capital of the Comapny as per the shareholder resolutoin passed through postal ballot conculed on 05-02-2025. The Authorised Preference Share Capital is Rs. 6,40,00,000/- (Rupees Six Crores Forty Lakhs Only) comprising of 19,00,000 (Nineteen Lakh Only) Cumulative Non-Convertible Redeemable Preference Shares. Further the Company has and shall have the power to fix face value and coupon rate of the shares as per the provisions of the Act, increase or reduce the Capital, to divide classes the Share Capital into several classes of shares and stock and to attach thereto such preferential, qualified or special rights, privileges or obligations as may be determined by or in accordance with the regulations of the Company and to vary, modify or abrogate any such rights, privileges or conditions in such mariner as may be provided by the regulations of the Company.”

2) The Company has issued 6,06,000 10.00% Cumulative, Non-Convertible redemable preference shares @ Rs. 50/- each for redeumption of old issued preference share. The issued shares shall be redeemed on or before the end of 20 years of the issue at Rs. 50 or Fair Price to be calculated by independent valuer at the time of redemption whichever is higher.

3) The Company have been redeemed the preference shares issued before 2006; a) 10% Cum Redeemable Preference Shares of face value Rs. 50/- each @ Rs. 53/- and 13.5% preference share of face value of Rs. 10/- @ Rs. 12/- (Premium paid Rs. 2/-)

^r2.17 The company''s net worth has been fully eroded due to accumulated losses including the loss for the year. However the accounts are presented on the basis applicable to “Going Concern” as the Management is of the opinion that the Going Concern assumption is on the basis of foreseeable future. *2.18 Provision for all knows liabilities art adequate in the opinion of the Management.

*2.19 a) Since there was no production and/or dealing hence segment wise disclosure is not applicable.

b) The deferred tax assets/liabilities and or its implication on deferred tax arising on account of unabsorbed losses & depreciation has not been accounted for on due principle of prudence and uncertainty of future taxable profit.

^2.21 Information on details of loans, Guarantee and Investments under section 186 of the Act.

i) Details of investments made are given in notes 2.1.

ii) Detail of Loans given by the Company in accordance with Section 186 of the Act read with rules issued thereunder are

iii) Th ere are no guarantees issued by the Company to any parties.

2.23 Financial Instruments Fair value hierarchy

The Company uses the following hierarchy for determining and/or disclosing the fair value of financial instruments by valuation techniques:

The categories used are as follows:

• Level 1: Quoted prices (unadjusted) for identical instruments in active market

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

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

2.24 Risk Management

Financial risk management objective and policies

The Company''s financial risk management is an integral part of how to plan and execute its business strategies. The Company''s activities expose it to a variety of financial risk: Liquidity risk, Market risk and Credit Risk.

The Company''s financial liabilities comprises mainly of borrowings, trade payables and other payables. The Company''s financial assets comprises mainly of Loans, cash and cash equivalents ,trade receivables. A summary of the risks have been given below:

a) Liquidity risk

Liquidity risk is the risk that the Company will not be able to meet it''s financial obligations as they become due. The Company manages its liquidity risk by ensuring that it will always have sufficient liquidity to meet its liabilities as and when due. The Company''s anticipated future cash flows and undrawn committed credit facilities are expected to be sufficient to meet the

b) Market risk

Market risk is the risk that the fair value of a financial instrument will fluctuate because of changes in market prices. Market risk comprises three types of risk: interest rate risk, price risk and currency risk. Financial instruments affected by market risk includes Loans, trade receivables and payables. The objective of market risk management is to manage and control market risk exposure within acceptable parameter, while optimising the return.

(i) Interest rate risk

Interest rate risk is the risk that the future cash flows of the financial instruments will fluctuate due to changes in market interest rates. The Company''s exposure to the risk of changes in market interest rates relates primarily to the Company''s investment in bonds, debentures and preference shares.

Sensitivity

Since the company does not have any interest risk exposure hence there has been no sensitivity analysis.

(ii) Price Risk

Price risk is the risk that the fair value of a financial instruments will fluctuate due to changes in market price. The Company is exposed to price risk arising mainly from investments in equity instruments and in private equity funds recognised at FVTOCI.

Sensitivity

Since the company does not hold any financial instrument which will fluctuate due to changes in market price hence there has been no sensitivity analysis.

(iii) Foreign currency risk

Foreign currency risk is the risk that the fair value of future cash flows of an exposure will fluctuate due to changes in foreign exchange rates. Currently the Company does not have any foreign currency exposure

(c) Credit risk

Credit risk refers to risk that a counterparty will default on its contractual obligation resulting in financial loss to company. The Company is exposed to credit risk from its operating and treasury activities. The Company generally does not have collateral.

a) The Company''s manufacturing unit remain under suspension w.e.f. 10.10.1999 onwards. In view of these circumstances the quantum of ratio (e) to (i) above are showing "Zero" due to absence of value of items in Numerator and Denominator for the same.

b) In case of any negative components in ratio working, the said ratio is considered as Not Applicable (N.A.).

c) Current Ratio increased due to sale of long term investment and converted in short-term advance.

d) ROI increased due to sale of investment during the financial year.

2.26 The Company does not have any Benami property, where any proceeding has been initiated or pending against the company for holding any Benami property.

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

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

2.29 The Company does not have any transactions with companies struck off under section 248 of the Companies Act, 2013 or section 560 of Companies Act, 1956,

2.30 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.

2.31 (i) The Company has not advanced or loaned or invested funds to any other person(s) or entity(ies), including foreign entities (Intermediaries) with the understanding that the Intermediary shall:

(a) directly or indirectly lend or invest in other persons or entities identified in any manner whatsoever by or on behalf of the company (Ultimate Beneficiaries) or

(b) provide any guarantee, security or the like to or on behalf of the Ultimate Beneficiaries

(ii) The Company has not received any fund from any person(s) or entity(ies), including foreign entities (Funding Party) with the understanding (whether recorded in writing or otherwise) that the Company shall:

(a) directly or indirectly lend or invest in other persons or entities identified in any manner whatsoever by or on behalf of the Funding Party (Ultimate Beneficiaries) or

(b) provide any guarantee, security or the like on behalf of the Ultimate Beneficiaries,

2.32 No transaction to report against the following disclosures requirements as notified by MCA pursuant to amended Schedule III.

(a) Crypto currency or virtual currency.

Relating to borrowed funds:

(b) Borrwing obtained on the basis of security of current assets.

(c) Discrepancy in utilisation of borrowings.

(d) Current maturity of long term borrowings.

2.33 Corporate Social Responsibility (CSR)

In view of losses in three immediately preceding financial years, the Company is not required to incur expenditure on CSR Activities under Section 135(5) of the Companies Act, 2013.

2.34 The Company has no such transaction which is not recorded in the books of accounts that has been surrendered or disclosed as income during the year in the tax assessments under the Income Tax Act, 1961 such as, search or survey or any other relevant provisions of the Income Tax Act, 1961.

2.35 The Company has not been declared as wilful defaulter by any bank or financial institution (as defined under the Companies Act, 2013) or any other lender or consortium thereof, in accordance with the guidelines on wilful defaulters issued by the Reserve Bank of India.

2.36 As per Rule 3(1) of Companies (Accounts) Rules, 2014 (as amended), the Company has used accounting software for maintaining its books of account which, along with change log management, has a feature of recording audit trail (edit log) facility in terms of laid down requirements, and the same has operated throughout the financial year 202324 for all relevant transactions recorded in the software.

2.37 In the opinion of the Board of Directors, current assets have a value on realization in the ordinary course of business at least equal to the amount at which they are stated in the balance sheet and provisions for all known / expected liabilities have been made.

2.38 Events occurring after the Balance Sheet date

No adjusting or significant non - adjusting events have occurred between the reporting date and the date of authorisation of these financial statements.

2.39 Previous year''s figures have been regrouped/reclassified wherever necessary, to confirm to current year''s

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Mar 31, 2024

i. Provisions, contingent liability and contingent assets:

? Provisions are recognized only when there is a present obligation, as a result of past
events and when a reliable estimate of the amount of obligation can be made at the
reporting date. These estimates are reviewed at each reporting date and adjusted to
reflect the current best

? estimates. Provisions are discounted to their present values, where the time value of
money is material.

? Contingent liability is disclosed for:

a. Possible obligations which will be confirmed only by future events not wholly within
the control of the Company; or

b. Present obligations arising from past events where it is not probable that an outflow of
resources will be required to settle the obligation or a reliable estimate of the amount of
the obligation cannot be made.

? Contingent assets are neither recognized nor disclosed except when realization of
income is virtually certain, related asset is recognized.

j. Foreign currency transactions and translations: Foreign currency transactions are
recorded in the functional currency, by applying the exchange rate between the functional
currency and the foreign currency at the date of the transaction.

Foreign currency monetary items outstanding at the balance sheet date are converted to
functional currency using the closing rate. Non-monetary items denominated in a foreign
currency which are carried at historical cost are reported using the exchange rate at the date
of the transactions.

Exchange differences arising on monetary items on settlement, or restatement as at reporting
date, at rates different from those at which they were initially recorded, are recognized in the
Standalone Statement of Profit and Loss in the year in which they arise.

k. Operating segments: Operating segments are reported in a manner consistent with the
internal reporting provided to the Chief Operating Decision Maker (‘CODM’) of the
Company. The CODM is responsible for allocating resources and assessing performance of
the operating segments of the Company.

l. Earnings per share: Basic earnings per share are calculated by dividing the net profit for
the period attributable to equity shareholders by the weighted average number of equity
shares outstanding during the period. For the purpose of calculating diluted earnings per
share, the net profit for the period attributed to equity shareholders and the weighted average
number of shares outstanding during the period is adjusted for the effects of all potentially
dilutive equity shares.

m. Research and development: Expenditure on research is recognized as an expense when it
is incurred. Expenditure on development which does not meet the criteria for recognition as
an intangible asset is recognized as an expense when it is incurred. Items of property, plant
and equipment and acquired intangible assets utilized for research and development arc
capitalized and depreciated / amortized in accordance with the policies stated for Property.
Plant and Equipment and Intangible Assets.

n. Borrowing cost: Borrowing cost consists of interest and other costs incurred in connection
w''itli the borrowing of iunds and also include exchange differences to the extent regarded as
an adjustment to the same. Borrowing costs directly attributable to the acquisition and/ or
construction of a qualifying asset are capitalized during the period of time that is necessary
to complete and prepare the asset for its intended use or sale. A qualifying asset is one that
necessarily takes substantial period of time to get ready for its intended use. All other
borrowing costs are charged to the Standalone Statement of Profit and Loss as incurred.

o. Cash and cash equivalents: For the purpose of the Standalone Statement of Cash Flows,
cash and cash equivalents consist of cash and cheques in hand, bank balances, demand
deposits with banks where the original maturity is three months or less and other short-term
highly liquid investments net of outstanding bank overdrafts and cash credit facilities as they
are considered an integral part of the Company’s cash management.

Significant management judgement in applying material and other accounting policies and
estimation uncertainty:

The preparation of the Company’s financial statements requires the management to make
judgements, estimates and assumptions that affect the reported amounts of revenues, expenses,
assets and liabilities, and the accompanying disclosures, and the disclosure of contingent liabilities:

? Evaluation of indicators for impairment of assets The evaluation of applicability of
indicators of impairment of assets requires, the management to make an assessment of
several external and internal factors which could result in deterioration of recoverable
amount of the assets.

♦> Recoverability of advances / receivables At each balance sheet date, based on
historical default rates observed over expected life, the management assesses the
expected credit losses on outstanding receivables and advances.

? Defined benefit obligation (‘DBO’): Management’s estimate of the DBO is based on a
number of underlying assumptions such as standard rates of inflation, mortality, discount
rate and anticipation of future salary increases. Variation in these assumptions may
significantly impact the DBO amount and the annual defined benefit expenses.

? Provisions: At each balance sheet date, basis the management judgment, changes in
facts and legal aspects, the Company assesses the requirement of provisions against the
outstanding contingent liabilities. However, the actual future outcome may be different
from this judgement.

♦> Leases: The Company enters into leasing arrangements for various premises. The
assessment (including measurement) of the lease is based on several factors, including,
but not limited to, transfer of ownership of leased asset at end of lease term, lessee’s
option to extend/terminate etc. After the commencement date, the Company reassesses
the lease term if there is a significant event or change in circumstances that is within its
control and affects its ability to exercise or not to exercise the option to extend or to
terminate.

? Contingencies: Contingent liabilities may arise from the ordinary course of business in
relation to claims against the Company, (refer note 45A). By their nature, contingencies
will be resolved only when one or more uncertain future events occur or fail to occur.
The assessment of the existence, and potential quantum, of contingencies inherently
involves the exercise of significant judgments by management and the use of estimates
regarding the outeome of future events.

♦> Fair value measurements: Management applies valuation techniques to determine the
fair value of financial instruments (where active market quotes are not available) and
share based payments. This involves developing estimates and assumptions consistent
with how market participants would price the instrument. The Company engages third
party valuers, where required, to perform the valuation. Information about the valuation
techniques and inputs used in determining the fair value of various assets, liabilities and
share based payments are disclosed in the notes to standalone financial statements.

? Inventories: The Company estimates the net realizable values of inventories, taking into
account the most reliable evidence available at each reporting date. The future
realization of these inventories may be affected by future demand or other market-driven
changes that may reduce future selling prices.

? Useful lives of depreciable / amortizable assets: Management reviews its estimate of
the useful lives of depreciable / amortizable assets at each reporting date, based on the
expected utility of the assets. Uncertainties in these estimates relate to technical and
economic obsolescence that may change the utility of assets.

? Valuation of investment property: Investment property is stated at cost. However, as
per Ind AS 40 ‘Investment Property’, there is a requirement to disclose fair value as at
the balance sheet date. The Company engages independent valuation specialists to
determine the fair value of its investment property as at reporting date.

♦♦♦ Income taxes: The Company’s tax jurisdiction is India. Significant judgements are
involved in estimating budgeted profits for the purpose of paying advance tax,
determining the provision for income taxes, including amount expected to be paid /
recovered for uncertain tax positions. The extent to which deferred tax assets/minimum
alternate tax credit can be recognized is based on management’s assessment of the
probability of the future taxable income against which the deferred tax assets/minimum
alternate tax credit can be utilized.

i. Reconciliation of the Shares Outstanding at the beginning and at the end of the Reporting Periods.

There is no movement in the equity shares outstanding at the beginning and at the end of reporting period.

li. Terms/ Right attached to Equity Shares

The Company has only one class of shares having a par value of Rs.10 per share fully paid up. Each holder of equity
shares is entitled to one vote per share and the equity shares will rank pari passu with each other in all respects. The Board
ofDirectors has not declared any dividend during the reporting period due to continues loss.

In the event of liquidation of the Company, the holders of equity shares will be entitled to receive remaining assets of the

iii. Aggregate number of shares issued for consideration other than cash and shares bought back during the
period of five years immediately preceding the year end:

i) Shares allotted as fully paid pursuant to contract(s) without payment being received in cash during the
financial year 2019-20 to 2023-24:

Nil

ii) Shares issued in aggregate number and class of shares allotted by way of bonus shares during the financial
year 2019-20 to 2023-24:

Nil

iii) Shares bought back during the financial year 2019-20 to 2023-24:

Nil

iv) Shares issued under employee stock option plan (ESOP) during the financial year 2019-20 to 2023-24:

Nil

v) Shares reserved for issue under options:

2.23 Financial Instruments
Fair value hierarchy

The Company uses the following hierarchy for determining and/or disclosing the fair value of financial
instruments by valuation techniques:

The categories used are as follows:

• Level 1: Quoted prices (unadjusted) for identical instruments in active market

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

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

2.24 Risk Management

Financial risk management objective and policies

The Company''s financial risk management is an integral part of how to plan and execute its
business strategies. The Company''s activities expose it to a variety of financial risk : Liquidity risk.
Market risk and Credit Risk.

The Company''s financial liabilities comprises mainly of borrowings, trade payables and other
payables. The Company''s financial assets comprises mainly of Loans, cash and cash equivalents
.trade receivables. A summary of the risks have been given below:

a) liquidity risk

Liquidity risk is the risk that the Company will not be able to meet it''s financial obligations as
they become due. The Company manages its liquidity risk by ensuring that it will always have
sufficient liquidity to meet its liabilities as and when due. The Company''s anticipated future
cash flows and undrawn committed credit facilities are expected to be sufficient to meet the

b) Market risk

Market risk is the risk that the fair value of a financial instrument will fluctuate because of
changes in market prices. Market risk comprises three types of risk: interest rate risk, price risk
and currency risk. Financial instruments affected by market risk includes Loans, trade
receivables and payables. The objective of market risk management is to manage and control
market risk exposure within acceptable parameter, while optimising the return.

(i) Interest rate risk

Interest rate risk is the risk that the future cash flows of the financial instruments will fluctuate
due to changes in market interest rates. The Company''s exposure to the risk of changes in
market interest rates relates primarily to the Company''s investment in bonds, debentures and
preference shares.

Sensitivity

Since the company does not have any interest risk exposure hence there has been no
sensitivity analysis.

(ii) Price Risk

Price risk is the risk that the fair value of a financial instruments will fluctuate due to changes
in market price. The Company is exposed to price risk arising mainly from investments in
equity instruments and in private equity funds recognised at FVTOCI.

Sensitivity

Since the company does not hold any financial instrument which will fluctuate due to changes
in market price hence there has been no sensitivity analysis.

(iii) Foreign currency risk

Foreign currency risk is the risk that the fair value of future cash flows of an exposure will
fluctuate due to changes in foreign exchange rates. Currently the Company does not have any
foreign currency exposure

(c) Credit risk

Credit risk refers to risk that a counterparty will default on its contractual obligation resulting
in financial loss to company. The Company is exposed to credit risk from its operating and
treasury activities. The Company generally does not have collateral.

2.26 The Company does not have any Benami property, where any proceeding has been initiated or pending against
the company for holding any Benami property.

^r 2.27 The Company does not have any charges or satisfaction which is yet to be registered with ROC beyond the
statutory period.

^r 2.28 The Company has not traded or invested in Crypto currency or Virtual Currency during the financial year.

^r 2.29 The Company does not have any transactions with companies struck off under section 248 of the Companies
Act, 2013 or section 560 of Companies Act, 1956,

^r 2.30 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.

2.31 (i) The Company has not advanced or loaned or invested funds to any other person(s) or entity(ies), including
foreign entities (Intermediaries) with the understanding that the Intermediary shall:

(a) directly or indirectly lend or invest in other persons or entities identified in any manner whatsoever by or on
behalf of the company (Ultimate Beneficiaries) or

(b) provide any guarantee, security or the like to or on behalf of the Ultimate Beneficiaries

(ii) The Company has not received any fund from any person(s) or entity(ies), including foreign entities
(Funding Party) with the understanding (whether recorded in writing or otheiwise) that the Company shall:

(a) directly or indirectly lend or invest in other persons or entities identified in any manner whatsoever by or on
behalf of the Funding Party (Ultimate Beneficiaries) or

(b) provide any guarantee, security or the like on behalf of the Ultimate Beneficiaries,

^r 2.32 No transaction to report against the following disclosures requirements as notified by MCA pursuant to
amended Schedule III.

(a) Crypto currency or virtual currency.

Relating to borrowed funds:

(b) Borrwing obtained on the basis of security of current assets.

(c) Discrepancy in utilisation of borrowings.

(d) Current maturity of long term borrowings.

^r 2.33 Corporate Social Responsibility (CSR)

In view of losses in three immediately preceding financial years, the Company is not required to incur
expenditure on CSR Activities under Section 135(5) of the Companies Act, 2013.

^r2.34 The Company has no such transaction which is not recorded in the books of accounts that has been
surrendered or disclosed as income during the year in the tax assessments under the Income Tax Act, 1961 such
as, search orsurvey orany other relevant provisions ofthe Income TaxAct, 1961.

^r 2.35 The Company has not been declared as wilful defaulter by any bank or financial institution (as defined under the
Companies Act, 2013) or any other lender or consortium thereof, in accordance with the guidelines on wilful
defaulters issued by the Reserve Bank of India.

^r2.36 As per Rule 3(1) of Companies (Accounts) Rules, 2014 (as amended), the Company has used accounting
software for maintaining its books of account which, along with change log management, has a feature of
recording audit trail (edit log) facility in terms of laid down requirements, and the same has operated throughout
the financial year 2023-24 for all relevant transactions recorded in the software.

^r2.37 In the opinion of the Board of Directors, current assets have a value on realization in the ordinary'' course of
business at least equal to the amount at which they are stated in the balance sheet and provisions for all known /
expected liabilities have been made.

2.38 Events occurring after the Balance Sheet date

No adjusting or significant non - adjusting events have occurred between the reporting date and the date of
authorisation ofthese financial statements.

^r 2.39 Previous year''s figures have been regrouped/reclassified wherever necessary, to confirm to current year''s
As per our Report of even date

For CHAN AN I & ASSOCIATES Mr. Sanjay Sureka Mr. Pijush Mandal

Chartered Accountants Director Director

FRN: 325425E DIN: 00491454 DIN: 03348999

(CA Subhash Chandra Chanani) ____

Partner Mr. R. K. Rungta Mr. S. Chitlangia

M. No. 063078 CFO CS

Place: Kolkata
Dated: 29th May 2024

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Mar 31, 2015

1. Corporate Information

Shentracon Chemicals Limited ('the Company') was incorporated on July 14, 1993 under the Companies Act, 1956. The Company's equity shares are Listed at BSE Limited, Calcutta Stock Exchange Limited and Ahmedabad Stock Exchange Limited.

2. Share holders have equal rights: Each Share holder is entitled to one vote per share.

3. There had been no allotment of shares either by way of Bonus allotment or allotment for consideration other than cash during last 5 years. There is no scheme of preference share allotment to employees under ESOP.

4. DISCLOSURE AND OTHER NOTES ON ACCOUNTS

i) There is no production in the chemical plant since 18.09.1996 and the work suspension has been notified and declared since 10th October 1999. The management has resolved to close the chemical plant during the year 2010-11. Company have prepare there accounts under going concern basis. The managnment seriously considering revival of the company with many alternate business plans including enhancement of net worth. During the year the company has started the business of hiring out its fixed assets to generate income therefrom.

ii) The accounts have been prepared on the basis of a going concern and hence, erosion/diminution in values, if any, as may be possible for a closed chemical plant has not been considered.

iii) CONTINGENT LIABILITIES :

5. Electricity Bills for Minimum Guarantee off take which relates to period before the date of closure and disputed by the Company is Rs. 21,60,000/-.

6. A recovery suit filed by a creditor Kesoram Rayon Limited has been decreed ex-parte by city civil court for Rs. 433766/- on application the court has stayed the decree and the matter is still subjudice. Against this demand a sum of Rs. 200634/- is standing under creditors in the books of the company.

7. Since the company has been running under loss the dividend liabilities on account of 10% Cum. Redeemable Preference Shares from the date of allotment on 28.6.95 & 31.03.06 and on 13.5% preference share from the date of allotment i.e. on 31.12.1998, till the end of the year has not been declared and paid.

8. The assets held for disposal under current assets include the balances (net of disposal) transferred in earlier years from tangible fixed assets (including capital work in progress) due to the closure of chemical plant as mentioned in note no. 17(I) above. Being the items of close chemical plant, its current realisable value is not asertainable. However the same has been valued at cost and in view of the managnment, its net realisable value is not lower than its cost.

9. As there is no production since 18.09.1996 and that the plant is closed since 10.10.1999, the inventory has been shown in the accounts as taken ,valued and certified by an independent valuer on 21.07.1998 in terms of their appointment by the State Bank of India (secured loan creditor at that time). It is certified by the management that there had been no movement in inventory after the date of verification by the independent valuer. Being a Chemical plant erosion in potential value is possible which will be taken care on its further evaluation.

10. Fixed Assets

a) In view of uneconomical condition and technical unavailability ,the production in chemical plant was shut down since 18.09.1996.The Board of Directors resolved to close the company's main business of chemicals effective from 1st April 2010.The Directors also resolved to explore other avenues and line of production or business by utilizing the existing site of Factory, Land & Building. In view of the fact that the existing chemical plant (with its all allied accessories) will not be of any use in any other probable line of production , it was resolved by the management in 2010-11 to dispose off the existing chemical Plant & Machineries and Electrical appurtenant thereto on block basis, and transfer the same from Fixed Assets to Current Assets, as the same are now meant for dispose off.

b) Based on facts stated in (i) above ,Transfer of Plant & Machinery and Electrical appurtenant from Fixed Assets to current Assets on block basis has been done on the basis of Written Down Value or expected realisable value whichever is lower in accordance with the guidelines contained in Accounting Standard AS-10 of Institute of Chartered Accountants of India. As per valuation report of an authorised valuer, the realizable value is greater than Written Down Value in the Books as on 1.04.2010, hence the management decided to transfer the same to Current Assets at its Written Down Value on block basis following the guidelines of AS-10.

11. Depreciation on existing Fixed Assets was been provided in the earlier years on Straight line method at the rates specified in Schedule xiv of The Companies Act ,1956. Consequent to the change mandated by Companies Act, 2013, the depreciation on SLM basis has been calculated on the basis of remaining usefull life as specified in Schedule II of the Companies Act, 2013 after taking into account 5% of the original cost as residual value had the company continued with the previously prescribed rates of depreciation as per scheduel XIV of Companies Act, 1956, charges for depreciation for the year ended 31st March 2015 woule have been lower by Rs. 32252.00 for the assets held at 01st April 2014 with corresponding effect on net block and accumulated depreciation of the company.

12. Provision for all known liabilities are adequate in the opinion of the Management.

13. Related Party Disclosures pursuant to Accounting Standard AS-18:

a) List of related parties and relationship

Sr. Name of Related Parties Relationship No.

1 Mr. Jagdish Prasad Sureka 2 Mr. Gobind Prasad Sureka Director's 3 Mr. Piyush Mondal 4 Mr. Tarun Mandal 5 Mr. Raj Kumar Sureka Relative of Director's 6 Prismo (India) Ltd.

Others: (Enterprise in which 7 Shentracon Holdings Pvt. Ltd. director's are substantial 8 Satya Leasing Co Ltd. interested) 9 Shentracon Finalease Pvt. Ltd.

14. During the year the company has paid Rs. 2818600.00 towards retirement benefit in the nature of gratuity and compensation on its settlement and the same is shown under the head employees benefit expenses.

15. a) Since there was no production and/or dealing hence segment wise disclosure is not applicable.

b) The deferred tax assets/liabilities and or its implication on deferred tax arising on account of unabsorbed losses & depreciation has not been accounted for on due principle of prudence and uncertainty of future taxable profit.

16. Previous year's figures have been regrouped/reclassified wherever necessary, to confirm to current year's classification/disclosure.

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Mar 31, 2014

I). DISCLOSER AND OTHER NOTES ON ACCOUNTS

There is no production since 18.9.1996 and die work suspension has been notified and declared since October 1999. The management has resolved to close the chemical plant during the year 2010-11

ii) The accounts have been prepared on the basis of a going concern and hence, erosion/diminutron in values, if any, as may be possible for a closed chemical plant has not been considered.

iii) A recovery suit filed by a creditor Kesoram Rayon Limited has been decreed ex-parte by city civil court for Rs. 433766/- on application the court has stayed the decree and the matter is still subjudice. Against this demand a sum of Rs. 200634/- is standing under creditors in the books of the company.

iv) Capital commitments against capital work in progress has been kept in abeyance and amount of which is not ascertainable.

v) CONTINGENT LIABILITIES :

a) Dividend Liability on Account of 10% Cum. Redeemable Preference Shares from the date of allotment on 28.6.95 & 3 1.03.06 and on 13.5% preference share from the date of allotment i.e. on 31.12.1998. till the end of the year remain unprovided which will be accounted for as and when paid. The liability will he approximate to Rs, 3.97.4 1,720/-al the end of the year.

b) Electricity Bills for Minimum Guarantee off take which relates to period before the date of closure and disputed by the Company is Rs. 21,60,000/-.

c) Listing Fees payable to Ahmedabad Stock Exchange amount of which is not ascertainable.

vi) Since the chemical plant has been closed hence the fate of capital work in progress brought forward since last few years, hangs in uncertainty and its impacl/loss could not be ascertained. Physical verilication of assets also could not be carried out. Being a chemical plant closed long back, its potential current worth is not ascertainable which require update evaluation and ascertainment of its factual worth.During the year 2012-13 The Directors resolved to dispose off the Capital Work in progress and hence the same has been transfered to Current Assets under the head Fixed Assets meant for disposal at its existing cost (refer point vii also)

vii) As there is no production since 18.09.1996 and that the plant is closed since 10.10.1999, the inventory has been shown in the accounts as taken .valued and certified by an independent valuer on 21.07.1998 in terms of their appointment by the State Bank ol India (secured loan creditor at that time). It is certified by the management that there had been no movement in inventory alter the date of verification by the independent valuer. Being a Chemical plant erosion in potential value is possible which will be taken carton its further evaluation. However possible diminution in value is not ascertainable at present and relevant adjustment could not he done.

viii) Fixed Assets

a) In view of uneconomical condition and technical unavailability .the production in chemical plant was .shut down Mini l8.09.1996.The Board of Directors resolved to close the company''s main business of eltemieals eflective from Im April 2010.The Directors also resolved to explore other avenues and line of production or business by utilizing the existing site of Factory, Land & Building. In view of the fact that the existing chemical plant (with its all allied accessories) will not be of any use in any other probable line of production , it was resolved by the management in 2010-11 to dispose off the existing chemical Plant & Machineries and Electrical appurtenant thereto on block basis, and transfer the same from Fixed Assets to Current Assets, as the same are now meant for dispose off.

b) Based on facts stated in (i) above .Transfer of Plant & Machinery and Electrical appurtenant from Fixed Assets to current Assets on block basis has been done on die basis of Written Down Value or expected realisable value whichever is lower in accordance with the guidelines contained in Accounting Standard AS-10 of Institute of Chartered Accountants of India. As per valuation report of an actuarial valuer, the realizable value is greater than Written Down Value in the Books as on 1.04.2010, hence the management decided to transfer the same to Current Assets at its Written Down Value on block basis following die guidelines of AS-10.

ix) Depreciation on existing Fixed Assets has been provided on Straight line method at the rates specified in Schedule xiv of The Companies Act ,1956.

x) The Concerns from whom the Unsecured Loans have been obtained hove waived their claim of interest.

xi) Provision for all known liabilities are adequate in the opinion of the Management.

xii) No provision has been made on possible irrecoverable advances and deposits, the amount of which could not be ascertained. The Advances and deposits may not fetch the value as stated in the ordinary course of business.

xiii) a) The Management is seriously considering the revival of the Company. In its pursuit to revive.Many alternate business plans including enhancement of net worth are under consideration.

b) During the year the company has started hiring out its fixed assets to generate income therefrom.

xiv) a) Since there was no fresh production and/or dealing hence segment wise disclosure is not applicable.

b) The deferred tax assets/liabililies and or its implication on deferred tax arising on account of unabsorbed losses & depreciation has not been accounted for on due principle of prudence and uncertainty of future taxable profit.

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Mar 31, 2013

I) There is no production since 18 9.1996 and the work suspension has been notified and declared since 10 October 1999.The management has resolved to close the chemical plant during die year 2010-11

ii) The accounts have been prepared on the basis of a going concern and hence, erosion/diminution in values, if any, as may be possible for a closed chemical plant has not been considered.

iii) A recovery suit filed by a creditor Kesoram Rayon Limited has been decreed ex-parte by city civil court for Rs. 433766/- on application the court has stayed the decree and the matter is still subjudice. Against this demand a sum of Rs. 200634/- is standing under creditors in the books of the company.

iv) Capital commitments against capital work in progress has been kept in abeyance and amount of which is not ascertainable.

v) CONTINGENT LIABILITIES :

a) Dividend Liability on Account of 10% Cum. Redeemable Preference Shares from the date of allotment on 28.6.95 & 31.03.06 and on 13.5% preference share from the date of allotment i.e. on 31.12.1998, till the end of the year remain unprovided which will be accounted for as and when paid. The liability will be approximate to Rs. 3,66,68,005/-at the end of the year.

b) Electricity Bills for Minimum Guarantee offtake which relates to period before the date of closure and disputed by the Company is Rs. 21,60,000/-.

c) Listing Fees payable to Ahmedabad Stock Exchange amount of which is not ascertainable.

vi) Since the chemical plant has been closed hence the fate of capital work in progress brought forward since last few years, hangs in uncertainty and its impactAoss could not be ascertained. Physical verification of assets also could not be carried out. Being a chemical plant closed long back, its potential current worth is not ascertainable which require update evaluation and ascertainment of its factual worth. During the year 2012-13 The Directors resolved to dispose off the Capital Work in progress and hence the same has been transfered to Current Assets under Fixed Assets meant for disposal at its existing cost (refer point vii also)

vii) As there is no production since 18.09.1996 and that the plant is closed since 10.10.1999, the inventory has been shown in the accounts as taken .valued and certified by an independent valuer on 21.07.1998 in terms of their appointment by the State Bank of India (secured loan creditor at that time). It is certified by the management that there had been no movement in inventory after the date of verification by the independent valuer Being a Chemical plant erosion in potential value is possible which will be taken care on its further evaluation. However possible diminution in value is not ascertainable at present and relevant adjustment could not be done.

viii) Fixed Assets

a) In view of uneconomical condition and technical unavailability ,the production in chemical plant was shut down since 18.09.1996.The Board of Directors resolved to close the company''s main business of chemicals effective from 1st April 2010.The Directors also resolved to explore other avenues and line of production or business by utilizing the existing site of Factory, Land & Building. In view of the fact that the existing chemical plant (with its all allied accessories) will not be of any use in any other probable line of production , it was resolved by the management in 2010-11 to dispose off the existing chemical Plant & Machineries and Electrical appurtenant thereto on block basis, and transfer die same from Fixed Assets to Current Assets, as the same are now meant for dispose off.

b) Based on facts stated in (i) above .Transfer of Plant & Machinery and Electrical appurtenant from Fixed Assets to current Assets on block basis has been done on the basis of Written Down Value or expected realisable value whichever is lower in accordance with the guidelines contained in Accounting Standard AS-10 of Institute of Chartered Accountants of India. As per valuation report of an actuarial valuer, the realizable value is greater than Written Down Value in the Books as on 1.04.2010, hence the management decided to transfer the same to Current Assets at its Written Down Value on block basis following the guidelines of AS-10.

ix) Depreciation on existing Fixed Assets has been provided on Straight line method at the rates specified in Schedule xiv of The Companies Act ,1956.

x) The Concerns from whom the Unsecured Loans have been obtained have waived their claim of interest.

xi) Provision for all known liabilities are adequate in the opinion of the Management. No provision has been made on possible irrecoverable advances and deposits, the amount of which could not be ascertained. The Advances and deposits may not fetch the value as stated in the ordinary course of business.

xii) a) The Management is seriously considering the revival of the Company. In its pursuit to revive ,it has already paid their dues with banker through OTS Scheme in earlier years. Management have get the company derecognised from BIFR vide order No. 253 dated 20.09.2007.Many alternate business plans including enhancement of net worth are under consideration. The management is hopeful of reviving the company.

b) During the year the company has started hiring out its fixed assets to generate income therefrom.

xii) a) Since there was no fresh production and/or dealing hence segment wise disclosure is not applicable,

b) The deferred tax assets/liabilities and or its implication on deferred tax arising on account of unabsorbed losses & depreciation has not been accounted for on due principle of prudence and uncertainty of future taxable profit.

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Mar 31, 2012

A:1 There is no production since 18.9.1996 and the work suspension has been notified and declared since 10 October 1999.The management has resolved to close the chemical plant during the year 2010-11 B:2 The accounts have been prepared on the basis of a going concern and hence, erosion/diminution in values, if any, as may be possible for a closed chemical plant has not been considered.

A:2 A recovery suit filed by a creditor KesoramRayon Limited has been decreed ex-parte by city civil court for Rs. 433766/- on application the court has stayed the decree and the matter is still subjudice.

A:3 Capital commitments against capital work in progress has been kept in abeyance and amount of which is not ascertainable.

A:4 CONTINGENT LIABILITIES :

i) Dividend Liability on Account of 10% Cum. Redeemable Preference Shares fromthe date of allotment on 28.6.95 & 31.03.06 and on 13.5% preference share fromthe date of allotment i.e. on 31.12.1998, till the end of the year remain unprovided which will be accounted for as and when paid. The liability will be approximate to Rs . 3,05,20,575/-at the end of the year.

ii) Electricity Bills for Minimum Guarantee off take which relates to period before the date of closure and disputed by the Company is Rs. 21,60,000/-.

iii) Listing Fees payable to Ahmedabad Stock Exchange amount of which is not ascertainable.

A:5 Since the chemical plant has been closed hence the fate of capital work in progress brought forward since last few years, hangs in uncertainty and its impact/loss could not be ascertained. Physical verification of assets also could not be carried out. Being a chemical plant closed long back, its potential current worth is not ascertainable which require update evaluation and ascertainment of its factual worth.

A:6 As there is no production since 18.09.1996 and that the plant is closed since 10.10.1999, the inventory has been shown in the accounts as taken ,valued and certified by an independent valuer on 21.07.1998 in terms of their appointment by the State Bank of India (secured loan creditor at that time). It is certified by the management that there had been no movement in inventory after the date of verification by the independent valuer. Being a Chemical plant erosion in potential value is possible which will be taken care on its further evaluation. However possible diminution in value is not ascertainable at present and relevant adjustment could not be done.

A:7 Fixed Assets

i) In view of uneconomical condition and technical unavailability ,the production in chemical plant was shut down since 18.09.1996.The Board of Directors resolved to close the company's main business of chemicals effective from 1st April 2010.The Directors also resolved to explore other avenues and line of production or business by utilizing the existing site of Factory, Land & Building. In view of the fact that the existing chemical plant(with its all allied accessories) will not be of any use in any other probable line of production , it was resolved by the management to dispose off the existing chemical Plant & Machineries and Electrical appurtenant thereto on block basis,and transfer the same from Fixed Assets to Current Assets,As the same are now meant for dispose off.

ii) Based on facts stated in (i) above ,Transfer of Plant & Machinery and Electrical appurtenant from Fixed Assets to current Assets on block basis has been done on the basis of Written Down Value or expected realisable value whichever is lower in accordance with the guidelines contained in Accounting Standard AS-10 of Institute Of Chartered Accountants of India. As per valuation report of an actuarial valuer, the realizable value is greater than Written Down Value in the Books as on 1.04.2010, hence the management decided to transfer the same to Current Assets at its Written Down Value on block basis following the guidelines of AS-10.

iii) The closure of Chemical plant and transfer of Plant & Machinery and other fixed assets will tantamount to disposal of substantial business.

iv) Few of the Fixed Assets of immaterial value had been sold during the year.

A:8 a) Depreciation on existing Fixed Assets has been provided on Straight line method at the rates specified in Schedule xiv of The Companies Act ,1956.

b) No depreciation has been provided on Assets disposed off and/or Plant & Machinery transferred to Current Assets.

A:9 The Concerns from whom the Unsecured Loans have been obtained have waived their claim of interest. B:11 The overdue amount of ESI as on 31st March, 2012 provided in earlier years was Rs. 76,591/- . B:12 i) Provision for all known liabilities are adequate in the opinion of the Management.

A:10 ii) Sundry creditors and major part of other current liabilities are coming from years and hence requires proper evaluation and reconciliation.

A:11 i) An amount of Rs.24,43,030/- advanced against Plant & Machinery remains unadjusted and lying under

Trade advances since many years. The captioned machinery is reported ready for delivery on payment of balance amount. The Management is trying for a settlement. However this amount is contingent of recovery.

ii) No provision has been made on possible irrecoverable advances and deposits, the amount of which could not be ascertained. The Advances and deposits may not fetch the value as stated in the ordinary course of business.

A:12 The Management is seriously considering the revival of the Company. In its pursuit to revive ,it has already paid their dues with banker through OTS Scheme in earlier years. Management have get the company derecognised from BIFR vide order of 253 dated 20.09.2007.Many alternate business plans including enhancement of net worth are under consideration. The management is hopeful of reviving the company.

A:13 i) Since there was no fresh production and/or dealing hence segment wise disclosure is not applicable.

ii) The deferred taxassets/liabilities and or its implication on deferred taxarising on account of unabsorbed losses & depreciation has not been accounted for on due principle of prudence and uncertainty of future taxable profit.

iii) Information pursuant to the provisions of paragraph 3,4(C) and 4(D) of part-II of Schedule-VI of the Companies Act,1956 are given in schedule -12.

A:14 Information pursuant to the provisions of part-IV of schedule-VI to the Companies Act,1956 are given in Schedule-13. B:19 Previous year figures have been regrouped and recasted wherever necessary.

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Mar 31, 2011

A:1 There is no production since 18.9.1996 and the work suspension has been notified and declared since 10th October 1999.The management has resolved to close the chemical plant during the year 2010-11

A:2 The accounts have been prepared on the basis of a going concern and hence, erosion/diminution in values, if any, as may be possible for a closed chemical plant has not been considered.

A:3 CONTINGENT LIABILITIES :

i) Dividend Liability on Account of 10% Cum. Redeemable Preference Shares from the date of allotment on 28.6.95 & 31.03.06 and on 13.5% preference share from the date of allotment i.e. on 31.12.1998, till the end of the year remain unproved which will be accounted for as and when paid. The liability will be approximate to Rs. 3,05,20,575/-at the end of the year.

ii) Capital commitments against capital work in progress has been kept in abeyance and amount of which is not ascertainable.

iii) Electricity Bills for Minimum Guarantee off take which relates to period before the date of closure and disputed by the Company is Rs. 21,60,000/-.

iv) Listing Fees payable to Bombay Stock Exchange amount of which is not ascertainable.

A:4 Since the chemical plant has been closed hence the fate of capital work in progress brought forward since last few years, hangs in uncertainty and its impact/loss could not be ascertained. Physical verification of assets also could not be carried out. Being a chemical plant closed long back, its potential current worth is not ascertainable which require update evaluation and ascertainment of its factual worth.

A:5 As there is no production since 18.09.1996 and that the plant is closed since 10.10.1999, the inventory has been shown in the accounts as taken ,valued and certified by an independent value on 21.07.1998 in terms of their appointment by the State Bank of India (secured loan creditor at that time). It is certified by the management that there had been no movement in inventory after the date of verification by the independent value. Being a Chemical plant erosion in potential value is possible which will be taken care on its further evaluation. However possible diminution in value is not ascertainable at present and relevant adjustment could not be done.

A.6 Fixed Assets

i) In view of uneconomical condition and technical unavailability ,the production in chemical plant was shut down since 18.09.1996.The Board of Directors resolved to close the company's main business of chemicals effective from 1st April 2010.The Directors also resolved to explore other avenues and line of production or business by utilizing the existing site of Factory, Land & Building. In view of the fact that the existing chemical plant(with its all allied accessories) will not be of any use in any other probable line of production , it was resolved by the management to dispose off the existing chemical Plant & Machineries and Electrical appurtenant thereto on block basis, and transfer the same from Fixed Assets to Current Assets, As the same are now meant for dispose off.

ii) Based on facts stated in (i) above ,Transfer of Plant & Machinery and Electrical appurtenant from Fixed Assets to current Assets on block basis has been done on the basis of Written Down Value or expected realisable value whichever is lower in accordance with the guidelines contained in Accounting Standard AS-10 of Institute Of Chartered Accountants of India. As per valuation report of an actual valuer, the realizable value is greater than Written Down Value in the Books as on 1.04.2010, hence the management decided to transfer the same to Current Assets at its Written Down Value on block basis following the guidelines of AS-10.

iii) The closure of Chemical plant and transfer of Plant & Machinery and other fixed assets will tantamount to disposal of substantial business.

iv) Few of the Fixed Assets of immaterial value had been sold during the year.

A.7 a)Depreciation on existing Fixed Assets has been provided on Straight line method at the rates specified in Schedule xiv of The Companies Act ,1956.

b)No depreciation has been provided on Assets disposed off and/or Plant & Machinery transferred to Current Assets.

A.8 The Concerns from whom the Unsecured Loans have been obtained have waived their claim of interest.

A:9 The overdue amount of ESI as on 31st March, 2011 provided in earlier years was Rs. 76,591/- .

A.10(i) Provision for all known liabilities are adequate in the opinion of the Management.

ii ) Sundry creditors and major part of other current liabilities are coming from years and hence requires proper evaluation and reconciliation.

A.11(i) An amount of Rs.24,43,030/- advanced against Plant & Machinery remains unadjusted and lying under Trade advances since many years. The captioned machinery is reported ready for delivery on payment of balance amount. The Management is trying for a settlement .However this amount is contingent of recovery.

A.11(ii) No provision has been made on possible irrecoverable advances and deposits, the amount of which could not be ascertained. The Advances and deposits may not fetch the value as stated in the ordinary course of business.

A.12 The Management is seriously considering the revival of the Company. In its pursuit to revive ,it has already paid their dues with banker through OTS Scheme in earlier years. Management have get the company derecognized from BIFR vide order of 253 dated 20.09.2007.Many alternate business plans including enhancement of net worth are under consideration. The management is hopeful of reviving the company.

No transaction was carried with related parties during the year which is required to be disclosed.

A.13 i) Since there was no fresh production and/or dealing hence segment wise disclosure is not applicable.

A.13 ii) The deferred tax assets/liabilities and or its implication on deferred tax arising on account of unabsorbed losses & depreciation has not been accounted for on due principle of prudence and uncertainty of future taxable profit.

A.14 iii) Information pursuant to the provisions of paragraph 3,4(C) and 4(D) of part-II of Schedule-VI of the Companies Act,1956 are given in schedule -12.

A.15 Information pursuant to the provisions of part-IV of schedule-VI to the Companies Act,1956 are given in Schedule- 13.

A.16 Previous year figures have been regrouped and recanted wherever necessary.

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Mar 31, 2010

A:l There is no production since 18.9.1996 and the work suspension has been notified and declared since 10th October 1999.

A:2 The accounts have been prepared on the basis of a going concern and erosion/diminution in values, if any, as may be possible for a closed chemical plant has not been considered.

A:3 CONTINGENT LIABILITIES :

(i) Dividend Liability on Account of 10% Cum. Redeemable Preference Shares from the date of allotment on 28.6.95 & 31.03.06 and on 13.5% preference share from the date of allotment i.e. on 31.12.1998, till the end of the year which will be accounted for as and when paid Rs. 2,74,46,860/-

ii)Liabilities arising for delayed payment of statutory dues in earlier years amount of which could not be ascertained.

iii) Electricity Bills for Minimum Guarantee off take which relates to period before the date of closure and disputed by the Company Rs. 21,60,000/-.

iv) Listing fees payable to Calcutta Stock Exchange is fully paid during the year under Amnesty Scheme .Listing Fees payable to Bombay Stock Exchange amount of which is not ascertainable.

A:4 Since the project has been kept in abeyance ,the fate of capital work in progress brought forward since last few years, hangs in uncertainty and its impact/loss could not be ascertained. Physical verification of assets also could not be carried out. Being a chemical plant closed long back, its potential current worth is not ascertainable which require update evaluation and ascertainment of its factual worth.

A:5 As the plant is closed since 10.10.1999, the inventory has been shown in the accounts as taken , valued and certified by an independent value on 21.07.1998 in terms of their appointment by the State Bank of India. It is certified by the management that there had been no movement in inventory after the date of verification by the independent value. Being a Chemical plant erosion in potential value is possible which will be taken care on its further evaluation. However possible diminution in value is not ascertainable at present and relevant adjustment could not be done.

A.6 Depreciation has been provided during the year and for earlier years after closure of plant considering the principal of diminution in value even though the plant was not in operation.

A.7 In absence of overdue physical verification and technical evaluation, the present condition of Fixed Assets(Plants Machinery, Tools & Equipments etc.) directly involved in the production, Capital work-in-progress as well as closing stock could not be ascertained and since the plant is not in operation for a longtime and in view of fact of being a chemical plant its possible erosion could not be denied. Possible realisable value and/or remaining usable life of fixed assets could not be ascertained and hence could not be adjusted.

A.8 Sundry Creditors include Rs.2,00,000/- payable for land out of which Rs.25,000/- has been paid as advance.

A.9 The Concerns from whom the Unsecured Loans have been obtained have waived their claim of interest during tendency of Institutional loan.

A:10 Possible liabilities arising on settlement of employees dues will be taken care on finalization/payment.

A.11(i) Provision for all known liabilities are adequate in the opinion of the Management.

A.11(ii) An amount of Rs.24,43,030/- advanced against Plant & Machinery remains unadjusted and lying under Trade advances. The captioned machinery is reported -ready for delivery on payment of balance amount. The Management is trying for a settlement .However this amount is contingent of recovery.

A.11(iii) No provision has been made on possible irrecoverable advances and deposits, the amount of which could not be ascertained.

A.12 i) There was no transaction carried with related parties which is required to be disclosed.

A.12 ii) Since there was no fresh production and/or dealing hence segment wise disclosure is not applicable.

A.12 iii) The deferred tax assets/liabilities and or its implication on deferred tax arising on account of unabsorbed losses & depreciation has not been accounted for on due principle of prudence and uncertainty of future taxable profit.

A.13 Information pursuant to the provisions of paragraph 3,4(C) and 4(D) of part-II of Schedule-VI of the Companies Act, 1956 are given in schedule -12.

A.14 Information pursuant to the provisions of part-IV of schedule-VI to the Companies Ace,1956 are given in Schedule-13.

A 15 Previous year figures have been regrouped and recanted wherever necessary.

2.CONSUMPTION OF RAW MATERIALS AND POWER & FUEL :

The Company's production is under suspension hence there is no consumption of Raw Materials etc.