Terrygold (India) Ltd. के अकाउंट के लिये नोट

Mar 31, 2015

1. Terms/rights attached to equity shares

The company has only one class of equity shares having a par value of Rs.10/- per share Each holder of equity shares is entitled to one vote per share The company declares and pays Dividends in Indian rupees. The dividend proposed by the Board of Directors is subject to the Approval of the share holders in the ensuing Annual General Meeting.

During the year ended 31-03-15 the amount of per share dividend recognized as distributions to equity share holders was Rs.nil.

In the event of liquidations of the company the holders of equity shares will be entitled to receive remaining assets of the company, after distribution of all Preferential amounts .The distribution will be in proportion to the number of equity shares held by the shareholders

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Mar 31, 2013

1. The Company is a Sick unit and is before the Hon''ble BIFR in Case No.210/2000. The company has reached OTS with both the secured creditors and submitted a viable revival proposal to the Hon''ble BIFR.

2. Pending finalization of one time settlement with banks no interest was provided on principal outstanding loans from 01.04.2005 to 31.03.2013.

3. Claims not accepted as debt by the company and pending in courts / appeals.

a) Liability if any on alleged sale and leaseback transaction.

b) Appeals against the Arbitration awards and Decreetal orders of the Learned Single Judge are pending before the Division Bench in the High Court Judicature at Madras

c) Claim of Central Excise Department amounting to Rs.25.74 Lakhs pending in appeal.

4. The Company declared a Lay-Off with effect from December 06, 2004. Pending final settlement, no provision has been made in the books of account for terminal benefits like gratuity, bonus and leave encashment.

5.

a) The term Loans from Industrial Development Bank of India and State Bank of Hyderabad are secured by joint equitable mortgage of land and buildings, hypothecation of plant & machinery and other movable assets, excluding book debts, and on the personal guarantee of some of the directors of the Company.

b) The working capital loans from State Bank of Hyderabad are secured by a first charge on all goods, book debts and movable assets of the Company and on the personal guarantee of some of the directors. The working capital term loan is secured by a second charge on the fixed assets of the Company.

c) SASF Cell (IDBI had accepted the OTS Proposal of the Company on 18.06.2007 and also had accepted the down payment of Rs.15.00 Lakhs arranged by the Company. As such, the Company has not provided compound and penal interest on term loan for the year under review.

d) Reportedly SBH has assigned its debt to ASREC India Ltd. on 07.11.2006. Deutsche Bank being the power of attorney holders of ASREC had reached OTS with the Company on 02.03.2007. As such, the Company has not provided compound and penal interest on term loan from SBH for the year under review.

6. Redundant fixed Assets of Rs.96.19 Lakhs (approx) have been given to another EOU, after obtaining permissions from VEPZ / Central Excise authorities, on a returnable basis without any rental charges.

a) Claims made by the Company

b) Claim filed by the Company against the Revenue Divisional Officer, Nalagonda under National Highway Act 1956 US 3(a), 3(d) and 3(b) is pending for finalization.

7. No confirmations have been obtained for sundry creditors, debtors and other balances outstanding.

8. As regards to the compliance of provision relating to the dues to the small scale industries in terms of companies (Amendment) Act, 1999 the company has sent letters to the creditors to confirm whether they are SSI Units. The company is yet to receive the confirmations from them. Hence, the company could not quantify the dues, if any, to the small-scale industries/ ancillary undertakings.

9. The company has not made any related party transaction during the Financial Year under review. However the Outstanding balance of un-secured loan taken from the Managing Director as at March 31, 2013 was Rs.11,501,829

10. Segment Reporting: The Company has not performed any operations during the year under review and hence Segment Reporting is not applicable.

11. Earnings Per Share: The Company has incurred Profit of 244324 /- during the year under review and hence EPS is 0.022

12. Deferred taxation:

Even though, the company has unabsorbed depreciation, carry forward of losses and adjustments under section 43 B of Income tax Act, 1961 deferred tax asset as per the Accounting Standard - 22 " Accounting for taxes on income" issued by the Institute of Chartered Accountants of India, has not been recognized in the Books of account as the company is 100% EOU and eligible for tax exemption u/s 10A of income tax Act, 1961 and also generation of sufficient taxable income in near future is uncertain. In view of the appeal preferred against the order of BIFR as detailed in Note No. 2 and also considering the fact that deferred tax assets are more than the deferred tax liabilities, no provision has been made in respect of deferred tax liability. Taking a more prudent view deferred tax assets have not been recognized in the books of account.

13. Additional information pursuant to the provisions of Paragraphs 3 & 4 of Schedule VI to the Companies Act, 1956.

14. Previous year''s figures are rearranged or regrouped wherever necessary.

15. As there was no production ability no depreciation is charged for the year

16. Signatures on Schedules 1 to 11

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Mar 31, 2012

1 BASIS OF PREPARATION OF FINANCIAL STATEMENTS

(Annexed to and forming part of the financial statement for the year ended 31 st March, 2012) These financial statements have been prepared on an accrual basis and under historical cost convention and in compliance in all material aspects, with the applicable accounting principals in India, the applicable accounting standards notified under section 211 (3c) and the relevant provisions of the companies Act 1956.

All the assets and liabilities have been classified as current as per the company's normal operations cycle and other criteria set out in schedule VI to the companies Act, 1956. Based on the nature of products and the time between the acquisition of assets for the processing and their realization in cash and cash equivalent,

(a). Terms/rights attached to equity shares

The company has only one class of equity shares having a par value of Rs.10/- per share .Each holder of equity shares is entitled to one vote per share The company declares and pays Dividends in Indian rupees. The dividend proposed by the Board of Directors is subject to the Approval of the sn*re holders in the ensuing Annual General Meeting.

During the year ended 31 -03-12 the amount of per share dividend recognized as distributions to equity share holders was Rs.nil.

In the event of liquidations of the company the holders of equity shares will be entitled to receive remaining assets of the company, after distribution of all Preferential amounts .The distribution will be in proportion to the number of equity shares held by the shareholders

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Mar 31, 2010

1. The Company is a Sick unit and is before the Honble BIFR in Case No.210/2000. The company has reached OTS with both the secured creditors and submitted a viable revival proposal to the Honble BIFR.

2. Pending finalization of one time settlement with banks no interest was provided on principal outstanding loans from 01.04.2005 to 31.03.2010.

3. Claims not accepted as debt by the company and pending in courts / appeals.

a) Liability if any on alleged sale and leaseback transaction.

b) Appeals against the Arbitration awards and Decreetal orders of the Learned Single Judge are pending before the Division Bench in the High Court Judicature at Madras

c) Claim of Central Excise Department amounting to Rs.25.74 Lakhs pending in appeal.

4. The Company declared a Lay-Off with effect from December 06, 2004. Pending final settlement, no provision has been made in the books of account for terminal benefits like gratuity, bonus and leave encashment.

5. a) The term Loans from Industrial Development Bank of India and State Bank of Hyderabad are secured by joint equitable mortgage of land and buildings, hypothecation of plant & machinery and other movable assets, excluding book debts, and on the personal guarantee of some of the directors of the Company.

b) The working capital loans from State Bank of Hyderabad are secured by a first charge on all goods, book debts and movable assets of the Company and on the personal guarantee of some of the directors. The working capital term loan is secured by a second charge on the fixed assets of the Company.

c) SASF Cell (IDBI had accepted the OTS Proposal of the Company on 18.06.2007 and also had accepted the down payment of Rs.15.00 Lakhs arranged by the Company. As such, the Company has not provided compound and penal interest on term loan for the year under review.

d) Reportedly SBH has assigned its debt to ASREC India Ltd. on 07.11.2006. Deutsche Bank being the power of attorney holders of ASREC had reached OTS with the Company on 02.03.2007. As such, the Company has not provided compound and penal interest on term loan from SBH for the year under review.

6. Redundant fixed Assets of Rs.96.19 Lakhs (approx) have been given to another EOU, after obtaining permissions from VEPZ / Central Excise authorities, on a returnable basis without any rental charges.

7. No confirmations have been obtained for sundry creditors, debtors and other balances outstanding.

8. As regards to the compliance of provision relating to the dues to the small scale industries in terms of companies (Amendment) Act, 1999 the company has sent letters to the creditors to confirm whether they are SSI Units. The company is yet to receive the confirmations from them. Hence, the company could not quantify the dues, if any, to the small-scale industries/ ancillary undertakings.

9. The company has not made any related party transaction during the Financial Year under review.

However the Outstanding balance of un-secured loan taken from the Managing Director as at March 31, 2010 was Rs.11, 471,829/- 10. Segment Reporting: The Company has not performed any operations during the year under review and hence Segment Reporting is not applicable.

10. Earnings Per Share: The Company has incurred a net loss of Rs.25,060/- during the year under review and hence EPS is not applicable.

11. Deferred taxation:

Even though, the company has unabsorbed depreciation, carry forward of losses and adjustments under section 43 B of Income tax Act, 1961 deferred tax asset as per the Accounting Standard - 22 " Accounting for taxes on income" issued by the Institute of Chartered Accountants of India, has not been recognized in the Books of account as the company is 100% EOU and eligible for tax exemption u/s 10A of income tax Act, 1961 and also generation of sufficient taxable income in near future is uncertain. In view of the appeal preferred against the order of BIFR as detailed in Note No. 2 and also considering the fact that deferred tax assets are more than the deferred tax liabilities, no provision has been made in respect of deferred tax liability. Taking a more prudent view deferred tax assets have not been recognized in the books of account.

12. Professional charges include payments to Statutory Auditors as under: For Statutory Audit 20,000 20,000

For Tax Audit & Other Matters 0 0

For Service Tax 2,060 2,060

Note: Figures in brackets are of previous year.

13. Previous years figures are rearranged or regrouped wherever necessary.

14. As there was no production ability no depreciation is charged for the year

Signatures on Schedules 1 to 13 As per our Report of even date