Tanvi Foods (India) Ltd. के अकाउंट के लिये नोट

Mar 31, 2025

(b) Rights, preferences and restrictions attached to shares:

The company has one class of equity shares having a par value of Rs.10/- each. Each shareholder is eligible for one vote per share held. The dividend proposed by the board of directors, if any, is subject to the approval of the shareholders in the ensuing Annual General Meeting except in the case of interim dividend. In the event of liquidation, the equity sharesholders are eligible to receive the remaining assets of the company after distribution of all preferential amounts, in proportion to their shareholding.

31F Utilisation of borrowings availed from banks and financial institutions

The borrowings obtained by the company from banks and financial institutions have been applied for the purposes for which such loans were taken

31G Borrowing secured against current assets

The company has availed the borrowings from banks on the basis of security of current assets. The quarterly returns or statements of current assets filed by the company with banks are in agreement with the books of accounts.

31H Relationship with struck off companies

The Company has no transactions with the companies struck off under section 248 of the Companies Act, 2013.

31I Registration of charges or satisfaction with Registrar of Companies (ROC)

There are no charges or satisfaction yet to be registered with Registrar of Companies (ROC) beyond the statutory period.

31J Undisclosed Income

There is no income surrendered or disclosed as income during the current or previous year in the tax assessments under the Income Tax Act, 1961, that has not been recorded previously in the books of account except as mentioned & disclosed in Note No 41 to Standalone Financial Statements.

31K Title Deeds of Immovable Properties

The title deeds of all the immovable properties, as disclosed in Note No.13 to the financial statements, are held in the name of the company

31L Valuation of Property Plant & Equipment, Intangible Asset

The company has not revlaued its property, plant and equipment or intangible assets or both during the current or previous year.

31M Loans or advances to specified persons

No loans or advances in the nature of loans granted to promoters , directors, KMPs and the related parties (as defined under Companies Act,2013), either severally or jointly with any other person, that are repayable on demand or without specifying any terms or period of repayment.

31N Details ofbenami property held

No proceedings have been initiated on or pending against the company for holding benami property under the Benami Trnasactions (Prohibition) Act, 1988 and rules made thereunder.

31O Wilful Defaulter

The Company has not been declared wilful defaulter by any bank or financial insitution or other lender.

31P Compliance with number of layers of companies

The company has complied with the number of layers prescribed under Section 2(87) of Companies Act, 2013 read with Companies(Restrction on number of layers) Rules, 2017.

31Q Details of Crypto currency or virtual currency

The company has not traded or invested in Crypto Currency or virtual currency during the current or previous year.

31R Utilisation of borrowed funds and share premium

No funds have been advanced or loaned or invested (either from borrowed funds or share premium or any other sources or kind of funds) bythe company to or in any other person or entity, including foreign entities ("intermediaries") with the understanding, whether recorded inwriting or otherwise, that the intermediary shall lend or invest in party identified by or on behalf of the company (Ultimate beneficiaries). Thecompany has not received any fund from any party (Funding Party) with the understanding that the company shall whether, directly orindirectly lend or invest in other persons or entities identified by or on behalf of the company ("Ultimate Beneficiaries") or provide anyguarantee, security or the like on behalf of the Ultimate Beneficiaries.

31S Compliance with approved scheme(s) of arrangements

The Company has not entered into any scheme of arrangement which has an accounting impact on current or previous financial year.

41 a) Sri Nagaveer Adusumilli, holds 5 Equity Shares in Polarcube Cold Storage Solutions (P) Ltd., Wholly Owned Subsidiary, in

compliance of Sec.3 of Companies Act, 2013 and the benefecial ownership lies with the company.

b) Sri Nagaveer Adusumilli, holds 5 Equity Shares in Squarepeg Distribution Services (P) Ltd., Wholly Owned Subsidiary, in compliance of Sec.3 of Companies Act, 2013 and the benefecial ownership lies with the company.

42 In the opinion of the Board, current assets, loans and advances are stated at a value, which could be realized in the ordinary course of business. The provision for all known liabilities made is adequate and not in excess of the amount reasonably necessary.

43 Some of the balances in Sundry Debtors, Sundry Creditors, Advances, Deposits, Secured loans and Unsecured Loans are subject to confirmation, reconciliations and adjustments, if any, which in the opinion of the management will not be significant.

44 The figures of the previous year are re-grouped / re-classified wherever necessary to make them comparable with that of the current year classification.

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Mar 31, 2024

2.14 Provisions and Contingent Liabilities ;

Provisions: Provisions are recognised when there is a present obligation as a result of a past event, it is probable that an outflow of resources embodying economic benefits will be required to settle the obligation and there is a reliable estimate of the amount of the obligation. Provisions are measured at the best estimate of the expenditure required to settle the present obligation at the Balance sheet date and are not discounted to its present value.

Contingent Liabilities: Contingent liabilities are disclosed when there is a possible obligation arising from past events, the existence of which will be confirmed only by the occurrence or non-occurrence of one or more uncertain future events not wholly within the control of the company or a present obligation that arises from past events where it is either not probable that an outflow of resources will be required to settle or a reliable estimate of the amount cannot be made. Contingent Assets are neither recognized nor disclosed in the financial statements. The same is in compliance with AS-29 to the extent applicable.

2.15 Leases ;

Operating Lease payments are recognized as an expense in the statement of profit and loss as per the terms of the agreements which are representative of the time pattern of the user''s benefits.

2.16 Cash flow Statement ;

The Cash Flow Statement is prepared by indirect method set in Accounting Standard 3 on Cash flow Statement and presents the cash flows by operating, investing and finance activities of the company. Cash and Cash equivalents presented in cash flow statement consist of cash in hand, cheques on hand and bank balances.

2.17 Earnings per share ;

Basic earnings per share is calculated by dividing the net profit or loss for the period attributable to equity shareholders by the weighted average number of equity shares outstanding during the period. Earnings considered in ascertaining the Company''s earnings per share is the net profit for the period after deducting preference dividends and any attributable tax thereto for the period. The weighted average number of equity shares outstanding during the period and for all periods presented is adjusted for events, such as bonus shares, other than the conversion of potential equity shares that have changed the number of equity shares outstanding, without a corresponding change in resources.

For the purpose of calculating diluted earnings per share, the net profit or loss for the period attributable to equity shareholders and the weighted average number of shares outstanding during the period is adjusted for the effects of all dilutive potential equity shares.

2.18 Contingencies and events occurring after the balance sheet date ;

All contingencies and events occurring after the balance sheet date which have a material effect on the financial position of the company are considered for preparing the financial statements.

2.19 Government Grants ;

i) Government grants are recognised when there is reasonable assurance that the Group will comply with the conditions attached to them and the grants will be received.

ii) Government grants whose primary condition is that the Group should purchase, construct or otherwise acquire capital assets are presented by deducting them from the carrying value of the assets. The grant is recognised as income over the life of a depreciable asset by way of a reduced depreciation charge.

iii) Other government grants are recognised as income over the periods necessary to match them with the costs for which they are intended to compensate, on a systematic and rational basis.

2.20 Extra-oridinary and Exceptional items & Changes in Policies ;

All the extra ordinary and prior period items of Income and expenses are separately disclosed in the statement of Profit and Loss account in the manner such that it''s impact on the current profit or loss can be perceived. If there has been any change in the Company''s accounting policies or accounting estimate so as to have material impact on the current year profit/loss or that of later periods the same would be disclosed as part of notes to accounts. All the items of Income and Expenses from ordinary activities with such size and nature such that they become relevant to explain the performance of thecompany have been disclosed separately. The same is in compliance with AS-5 to the extent applicable.

31F Utilisation of borrowings availed from banks and financial institutions

The borrowings obtained by the company from banks and financial institutions have been applied for the purposes for which such loans were taken

31G Borrowing secured against current assets

The company has availed the borrowings from banks on the basis of security of current assets. The quarterly returns or statements of current assets filed by the company with banks are in agreement with the books of accounts.

31H Relationship with struck off companies

The Company has no transactions with the companies struck off under section 248 of the Companies Act, 2013.

31I Registration of charges or satisfaction with Registrar of Companies (ROC)

There are no charges or satisfaction yet to be registered with Registrar of Companies (ROC) beyond the statutory period.

31J Undisclosed Income

There is no income surrendered or disclosed as income during the current or previous year in the tax assessments under the Income Tax Act, 1961, that has not been recorded previously in the books of account except as mentioned & disclosed in Note No 41 to Standalone Financial Statements.

31K Title Deeds of Immovable Properties

The title deeds of all the immovable properties, as disclosed in Note No.13 to the financial statements, are held in the name of the company.

31L Valuation of Property Plant & Equipment, Intangible Asset

The company has not revlaued its property, plant and equipment or intangible assets or both during the current or previous year.

31M Loans or advances to specified persons

No loans or advances in the nature of loans granted to promoters , directors, KMPs and the related parties (as defined under Companies Act,2013), either severally or jointly with any other person, that are repayable on demand or without specifying any terms or period of repayment.

31N Details ofbenami property held

No proceedings have been initiated on or pending against the company for holding benami property under the Benami Trnasactions (Prohibition) Act, 1988 and rules made thereunder.

31O Wilful Defaulter

The Company has not been declared wilful defaulter by any bank or financial insitution or other lender.

31P Compliance with number of layers of companies

The company has complied with the number of layers prescribed under Section 2(87) of Companies Act, 2013 read with Companies(Restrction on number of layers) Rules, 2017.

31Q Details of Crypto currency or virtual currency

The company has not traded or invested in Crypto Currency or virtual currency during the current or previous year.

31R Utilisation of borrowed funds and share premium

No funds have been advanced or loaned or invested (either from borrowed funds or share premium or any other sources or kind of funds) bythe company to or in any other person or entity, including foreign entities ("intermediaries") with the understanding, whether recorded inwriting or otherwise, that the intermediary shall lend or invest in party identified by or on behalf of the company (Ultimate beneficiaries). Thecompany has not received any fund from any party (Funding Party) with the understanding that the company shall whether, directly orindirectly lend or invest in other persons or entities identified by or on behalf of the company ("Ultimate Beneficiaries") or provide anyguarantee, security or the like on behalf of the Ultimate Beneficiaries.

31S Compliance with approved scheme(s) of arrangements

The Company has not entered into any scheme of arrangement which has an accounting impact on current or previous financial year.

41 a) Sri Nagaveer Adusumilli, holds 5 Equity Shares in Polarcube Cold Storage Solutions (P) Ltd., Wholly Owned Subsidiary, in

compliance of Sec.3 of Companies Act, 2013 and the benefecial ownership lies with the company.

b) Sri Nagaveer Adusumilli, holds 5 Equity Shares in Squarepeg Distribution Services (P) Ltd., Wholly Owned Subsidiary, in compliance of Sec.3 of Companies Act, 2013 and the benefecial ownership lies with the company.

42 In the opinion of the Board, current assets, loans and advances are stated at a value, which could be realized in the ordinary course of business. The provision for all known liabilities made is adequate and not in excess of the amount reasonably necessary.

43 Some of the balances in Sundry Debtors, Sundry Creditors, Advances, Deposits, Secured loans and Unsecured Loans are subject to confirmation, reconciliations and adjustments, if any, which in the opinion of the management will not be significant.

44 The figures of the previous year are re-grouped / re-classified wherever necessary to make them comparable with that of the current year classification.

As per my report of even date For and on behalf of the Board of Directors

For Sagar and Associates Chartered Accountants

FRN_: 003510S A. Sri Nagaveer Adusumilli Vasavi

Chairman and Managing Director Wholetime Director

DIN : 02589830 DIN : 02589803

B. Aruna

Gagandeep Kaur Saluja Gangachari Ryali

UDIN_: 24216454BKDAVU7924 ^{Company Secretary Chief Financial} °ffi^cer

Place : Hyderabad Date : 30th May, 2024

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Mar 31, 2023

Provisions and Contingent Liabilities

Provisions: Provisions are recognised when there is a present obligation as a result of a past event, it is probable
that an outflow of resources embodying economic benefits will be required to settle the obligation and there is a
reliable estimate of the amount of the obligation. Provisions are measured at the best estimate of the expenditure
required to settle the present obligation at the Balance sheet date and are not discounted to its present value.

Contingent Liabilities: Contingent liabilities are disclosed when there is a possible obligation arising from past
events, the existence of which will be confirmed only by the occurrence or non-occurrence of one or more uncertain
future events not wholly within the control of the company or a present obligation that arises from past events where
it is either not probable that an outflow of resources will be required to settle or a reliable estimate of the amount
cannot be made. Contingent Assets are neither recognized nor disclosed in the financial statements. The same is in
compliance with AS-29 to the extent applicable.

2.15 Leases ;

Operating Lease payments are recognized as an expense in the statement of profit and loss as per the terms of the
agreements which are representative of the time pattern of the user''s benefits.

2.16 Cash flow Statement ;

The Cash Flow Statement is prepared by indirect method set in Accounting Standard 3 on Cash flow Statement and
presents the cash flows by operating, investing and finance activities of the company. Cash and Cash equivalents
presented in cash flow statement consist of cash in hand, cheques on hand and bank balances.

2.17 Earnings per share ;

Basic earnings per share is calculated by dividing the net profit or loss for the period attributable to equity
shareholders by the weighted average number of equity shares outstanding during the period. Earnings
considered in ascertaining the Company''s earnings per share is the net profit for the period after deducting
preference dividends and any attributable tax thereto for the period. The weighted average number of equity shares
outstanding during the period and for all periods presented is adjusted for events, such as bonus shares, other than
the conversion of potential equity shares that have changed the number of equity shares outstanding, without a
corresponding change in resources.

For the purpose of calculating diluted earnings per share, the net profit or loss for the period attributable to equity
shareholders and the weighted average number of shares outstanding during the period is adjusted for the effects
of all dilutive potential equity shares.

2.18 Contingencies and events occurring after the balance sheet date ;

All contingencies and events occurring after the balance sheet date which have a material effect on the financial
position of the company are considered for preparing the financial statements.

2.19 Government Grants ;

i) Government grants are recognised when there is reasonable assurance that the Group will comply with the
conditions attached to them and the grants will be received.

ii) Government grants whose primary condition is that the Group should purchase, construct or otherwise
acquire capital assets are presented by deducting them from the carrying value of the assets. The grant is
recognised as income over the life of a depreciable asset by way of a reduced depreciation charge.

iii) Other government grants are recognised as income over the periods necessary to match them with the costs
for which they are intended to compensate, on a systematic and rational basis.

2.20 Extra-oridinary and Exceptional items & Changes in Policies ;

All the extra ordinary and prior period items of Income and expenses are separately disclosed in the statement of
Profit and Loss account in the manner such that it''s impact on the current profit or loss can be perceived. If there has
been any change in the Company''s accounting policies or accounting estimate so as to have material impact on the
current year profit/loss or that of later periods the same would be disclosed as part of notes to accounts. All the items
of Income and Expenses from ordinary activities with such size and nature such that they become relevant to
explain the performance of thecompany have been disclosed separately. The same is in compliance with AS-5 to
the extent applicable.

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Mar 31, 2018

1. General Information:

M/s. Tanvi Foods (India) Limited ("the Company") (CIN:U15433TG2007PLC053406) is engaged in the Manufacturing of Corn Samosa, Spring Roll & Trading of Frozen Foods. The company functioning it business in Vijayawada, Krishna District, Andhra Pradesh and Hyderabad, Telangana. The company running its business in the style of "Frozen Kings" and "Corn Club".

# During the Month of February 2017, the compa ny brought a fresh issue at BSE (Emerge:SME Platform) by way of initial public offer of 6,72,000 shares @ Rs. 60 per share consisting Rs. 50 for security premium.

# During the Month of March, 2018, the company made a Preferential allotment of 7,50,000 equity shares through Private Placement offer @ Rs. 80 per share consisting Rs. 70 for security premium.

(b) Rights, preferences and restrictions attached to shares:

The company has one class of equity shares having a par value of Rs.10/- each. Each shareholder is eligible for one vote per share held. The dividend proposed by the board of directors, if any, is subject to the approval of the shareholders in the ensuing Annual General Meeting except in the case of interim dividend. In the event of liquidation, the equity shareholders are eligible to receive the remaining assets of the company after distribution of all preferential amounts, in proportion to their shareholding.

( e) During the month of March, 2018, the Company has issued 4,00,000 Warrants of Rs. 80/- each and 1,00,000 warrants of Rs. 80/- each to Adusumilli Sri Nagaveer and Adusumilli Vasavi respectively and has received Rs. 80,00,000 from Adusumilli Sri Nagaveer and Rs. 20,00,000 from Adusumilli Vasavi as 25% of the Consideration amount as per Regulation 4(3)( c) of SEBI (ICDR) regulations, 2015. The warrants are convertible into equity shares within 18 months from the date of allotment upon receipt of balance subscription amount of Rs. 2,40,00,000 from Adusumilli Sri Nagaveer and Rs. 60,00,000 from Adusumilli Vasavi. The equity shares to be allotted upon exercise of Warrants shall rank Pari Passu in all respects including as to dividend, with the existing Equity Shares of Face Value of Rs. 10/- each of the Company

*Term Loans are secured against Fixed Assets of the company, both present and future. (For details Refer Note No 39).

** Vehicles loans are secured by hypothecation of vehicles financed by respective banks. (For details Refer Note No. 39)

*** The Company availed Unsecured Business Loans from Banking & Non Banking Financial Institutions (for Details Refer Note No. 39)

2 Note: Working Capital Loan / Term Loan/ Vehicle Loans:

1. Working Capital Loan from Andhra Bank:

Cash Credit Limits:

Rate of Interest:

Cash Credit from Andhra Bank: Interest at the rate of 3.55% margin above the base rate

Margin:

25% on Stock & 30% on receivables not older than 90 days

Primary Security:

Hypothecation of stock of Raw Material, Consumables, Work in Progress, Finished Goods & Assignment of receivables.

Collateral Security:

a) Hypothecation of Plant and Machinery and other fixed assets with value of Rs.1.96 Crores after reducing the Vehicles value of Rs.3.64 Crores from total WDV of Assets of Rs.5.60 Crores, Standing in the name of M/s Tanvi Foods (India) Limited formerly known as Tanvi Foods (India) Private Limited valued as per ABS on 31.03.2016 (since the company has taken vehicle loans from other banks, the same is excluded from WDV of Fixed Assets).

b) Vacant land situated at R.S.No.3571/2008, L.R.S.No.3571/2008, Plot No.980, Near door No.2-94, Tadigadapa Donka Road, Janchaitanya layout, poranki village & Grampanchayat, Penamaluru mandal with appurtenant site of 209.00 Sq. yards or 174.81 sq.mts. standing in the name of Tamma Reddy Venkataratnam, Valued at 0.31 Crores as per valuation dt.08.01.2016.

c) Vacant House site situated at R S No.302 to 310, 320, 321, 322, 324 to 361, 363 to 365, 384, 385, 387 to 391, 399, Plot No.295 LIG Nallagandla HUDA Residential complex, Nallagandla Village, Serilingampally, GHML & Mandal, Ranga Reddy District, Telangana with an extent of 331.89 sq.yds standing in the name of Adusumilli Vasavi, Valued at 0.83 Crores dt.08.01.2016

d) Residential Flat (Two Bed Room) situated at R S No.8, MW No.30, Asst. No.263992, Flat No.PH-5, 4th Floor, Kakathiya Appartments, No.5 Bus route, Ashok Nagar, Ramachandra Nagar Patamata, Vijayawada, Krishna District, with an extent of 1526.00 Sq. Yards or 1276.39 Sq. Mts. standing in the name of Adusumilli Vasavi, Valued at 0.47 Crores dt.08.01.2016

e) Vacant site and GI Sheet shed situated at R S No.262/1, 263, 273/3B, L P No.33/2013 Plot No.151, 152, Back side of Airport area, Kesarapalli Village, Gannavaram Mandal, Krishna District, with an appurtenant site of 721.00 Sq.Yards of 603.06 Sq. Mts. standing in the name of Adusumilli Vasavi, Valued at 0.42 Crores after reducing the primary security value given for Term Loan Rs. 0.85 Crores from Total value of Property Rs.1.27 Crores, Valuation Dt.10.07.2017 (Since The company has taken term loan for Cost of Acquisition of Machinery / Equipment and Civil works for construction of Shed at kesarapalli . Hence the following considered as primary security for Term Loan)

f) Flat No. S-4, with a plinth area of 744 Sft, 2nd Floor, Sai Kakatiya Apartments, Ramachandra Nagar, Ashok Nagar, Vijayawada, standing in the name of Adusumilli Sarat Chandra Babu, Valued at 0.48 Crores Lakhs dt. 28.07.2017

g) Residential House Falt No.171, Measuring 200 Sq. Yards situated at Road No.278/3, Kesarapalli Village, Gannavaram Mandal, Krishna District, standing in the name of Adusumilli Sri Nagaveer, Valued at 0.24 Crores dt.12.12.2015

h) Residential Flat (Two Bedroom) No.F-4, First Floor, Sai kakatiya Apartments, R S No 8, D No.59-1-15/1, No 5Route Ashok Nagar, Ramachandra Nagar, Patamata,Vijayawada, Krishna District, standing in the name of Adusumilli Sarat Chandra Babu, Valued at 0.50 Crores dt.10.07.2017

Personal Guarantee of

6. Sri. A. Sri Nagaveer, CEO, S/o. A. Sarath Chandra Babu

7. Smt. A. Vasavi, Managing Director, W/o. Sri A. Sri Nagaveer

8. Sri. A. Sarath Chandra Babu, Director, S/o. Sri A. Thirumala Rao

9. Smt. A. Sarada, Director, W/o. Sri A. Sarat Chandra Babu

10. Sri. T. Venkata Ratnam, S/o. Sri. T. Seetaramayya

Terms of Repayment:

Working Capital Loans repayable on demand.

3. Term Loan from Andhra Bank:

Rate of Interest:

Term Loan from Andhra Bank: Interest at the rate of 3.00% margin above the base rate.

Purpose of Loan: To meet cost of Civil Works and cost of acquisition of machinery / equipment estimated at a cost of Rs.164.00 Lakhs Primary Security:

Hypothecation of all the equipment procured and fixed assets acquired from the term loan.

Terms of Repayment:

This Term Loan repayable in 24 Quarterly Installments of Rs.5,12,500/- each, Commencing from September, 2014

4 Note: Retirement Benifits :

The Gratuity liability is recognised in the books of accounts based on Actuarial Valuation in accordance with the Revised AS-15.

5 a) Sri Nagaveer Adusumilli, holds 5 Equity Shares in Polarcube Cold Storage Solutions (P) Ltd., Wholly Owned Subsidiary, in compliance of Sec.3 of Companies Act, 2013 and the beneficial ownership lies with the company.

b) Sri Nagaveer Adusumilli, holds 5 Equity Shares in Squarepeg Distribution Services (P) Ltd., Wholly Owned Subsidiary, in compliance of Sec.3 of Companies Act, 2013 and the beneficial ownership lies with the company.

6. In the opinion of the Board, current assets, loans and advances are stated at a value, which could be realized in the ordinary course of business. The provision for all known liabilities made is adequate and not in excess of the amount reasonably necessary.

7. Some of the balances in Sundry Debtors, Sundry Creditors, Advances and Deposits are subject to confirmation, reconciliations and adjustments, if any, which in the opinion of the management will not be significant.

The company has filed Revised Income Tax Returns pertaining to FY 2013-14 and FY 2014-15

8 . claiming Exemption 80IB (11A) of Income Tax Act, 1961 and for FY 2012-13, submitted during the Assessment.

During the Assessment for FY 2012-13, AO not considered the 80IB (11A) claim, hence company filed Appeal before CIT, Appeals.

9. The figures of the previous year are re-grouped / re-classified wherever necessary to make them comparable with that of the current year classification.