i. Provisions, Contingent Liabilities and Contingent Assets
i. Provisions

Provisions are determined by discounting the expected future cash flows (representing the best estimate of the
expenditure required to settle the present obligation at the balance sheet date) at a pre-tax rate that reflects
current market assessments of the time value of money and the risks specific to the liability. The unwinding of

the discount is recognized as finance cost.
ii. Contingent Liabilities

Contingent liability are disclosed when there is a possible obligation arising from past events and 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 but is not
recognized because it is not possible that an outflow of resources embodying economic benefit will be required
to settle the obligations or reliable estimate of the amount of the obligations cannot be made. The Company
discloses the existence of contingent liabilities in Other Notes to Financial Statements.

4 SIGNIFICANT JUDGEMENTS AND KEY SOURCES OF ESTIMATION IN APPLYING ACCOUNTING POLICIES

Estimates and judgements are continually evaluated. They are based on historical experience and other factors,
including expectations of future events that may have a financial impact on the Company and that are believed to
be reasonable under the circumstances. Information about Significant judgements and Key sources of estimation
made in applying accounting policies that have the most significant effects on the amounts recognized in the
financial statements is included in the following notes:

> Recognition of Deferred Tax Assets: The extent to which deferred tax assets can be recognized is based
on an assessment of probability of the Company's future taxable income against which the deferred tax
assets can be utilized. In addition, significant judgement is required in assessing the impact of any legal or
economic limits.

> Useful lives of depreciable/amortisable assets (tangible and intangible): Management reviews its
estimate of the useful lives of depreciable/amortisable assets at each reporting date, based on the expected
utility of the assets. Uncertainties in these estimates relate to actual normal wear and tear that may change
the utility of plant and equipment.

> Provisions and Contingencies: The assessments undertaken in recognizing provisions and contingencies
have been made in accordance with Indian Accounting Standards (Ind AS) 37, 'Provisions, Contingent
Liabilities and Contingent Assets'. The evaluation of the likelihood of the contingent events is applied best
judgement by management regarding the probability of exposure to potential loss.

> Impairment of Financial Assets: The Company reviews its carrying value of investments carried at
amortized cost annually, or more frequently when there is indication of impairment. If recoverable amount
is less than its carrying amount, the impairment loss is accounted for.

Notes :

i) Land includes Rs. 355.26 thousands (P.Y. Rs. 355.26 thousands), Building Rs. 1,366.58 thousands (P.Y. Rs. 1397.20
thousands), Plant and Equipment Rs. 443.30 thousands (P.Y. Rs. 443.30 thousands) and Roads and bridges Rs. 3.19
thousands (P.Y. Rs. 3.19 thousands) relating to Rubberwood Factory situated in the state of Kerala which is not in
operation for nearly 27 years pursuant to notice received from the Deputy Conservator of Forests (Protection),
Trivandrum. Out of these fixed assets mentioned above, building was impaired in earlier years considering the
net realisable value of the same.

ii) The Company has not revalued its property, plant and equipment during the year ended March 31, 2025 and
March 31, 2024

iii) Freehold land with a carrying amount of Rs. 1982.01 thousands (P.Y. Rs. 1,929.10 thousands) have been pledged
to secure borrowings of the Company (Refer Note 14.1).

12.4 Reconciliation of the number of shares at the beginning and at the end of the year

There has been no change/ movements in number of shares outstanding at the beginning and at the end of the
year.

12.5 Terms/ Rights attached to Equity Shares :

The Company has only one class of issued shares i.e. Equity Shares having par value of '10/- per share. Each
holder of Equity Shares is entitled to one vote per share and equal right for dividend. The dividend proposed
by the Board of Directors is subject to the approval of shareholders in the ensuing Annual General Meeting,
except in case of interim dividend. In the event of liquidation, the Equity shareholders are eligible to receive the
remaining assets of the Company after payment of all preferential amounts, in proportion to their shareholding.

12.6 Shareholding Pattern with respect of Holding or Ultimate Holding Company

The Company does not have any Holding Company or Ultimate Holding Company.

12.7 Details of Equity Shareholders holding more than 5% shares in the Company

14.1 Details of Security Given for Loan

Loan of Rs. 20,000 thousands is secured by first and exclusive charge over the property bearing Survey No.
112 sub-division nos. 1-40 and survey no. 113 sub-division nos. 1-20, aggregately admeasuring 26,775 sq. mts,
situated at village Mercurim of Tiswadi Taluka, Goa. The loan is repayable on demand and it carries interest rate
@ 12.50% p.a.

14.2 Unsecured loan from body corporates is repayable on demand and carries interest rate @ 9.00% p.a.

14.3 No amount have been guaranteed by Directors of the Company.

14.4 There is no default on Balance Sheet date in repayment of borrowings and interest thereon.

14.5 The Company is not required to file quarterly returns or statements with the banks as it has no borrowings from
bank.

25 Loans or advances (repayable on demand or without specifying any terms or period of repayment) to
specified persons

During the year ended March 31, 2025 the Company did not provide any Loans or advances which remains
outstanding (repayable on demand or without specifying any terms or period of repayment) to specified persons
(Nil as on March 31,2024)

26 Benami Property held

The Company does not have any Benami property, where any proceeding has been initiated or pending against
the Company, during the year ended March 31, 2025 and March 31, 2024 for holding any Benami property.

27 Undisclosed Income

The Company does not have any such transaction which is not recorded in the books of account that has
been surrendered or disclosed as income during the year ended March 31, 2025 and March 31, 2024 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)

28 Wilful Defaulter

The Company is not a declared wilful defaulter by any bank or financial institution or other lender during the year
ended March 31, 2025 and also for the year ended March 31,2024.

29 Applicability of Corporate Social Responsibility

The Company is not getting covered under section 135 of the Companies Act, 2013 and as such the provisions
of CSR are not applicable on the Company.

30 Relationship with Struck off Companies

The Company did not have any transaction with companies struck off during the year ended March 31, 2025 and
also for the year ended March 31, 2024.

31 As at March 31, 2025, the records of the Ministry of Corporate Affairs (MCA) reflect six charge pending filing
satisfaction which was created/satisfied many years back and despite repayment of underlying loan within the
stipulated time. The charge is historic in nature and it involves practical challenges in obtaining no-objection
certificates (NOCs) from the charge holders at this stage. Details as below:

32 Utilisation of Borrowed funds and share premium

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. The Company has not advanced or lent 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.

33 Crypto Currency

The Company has not traded or invested in Crypto currency or Virtual Currency during the year ended March 31,
2025 and March 31,2024

Note :Since the Company has no revenue from operations during the year ended March 31, 2025 and March 31,
2024, Inventory Turnover Ratio, Trade Receivable & Payable Turnover Ratio, Net Capital Turnover Ratio & Net
Profit Ratio has not been disclosed. Moreover, since the Company does not have any investment during the year
ended March 31, 2025 & March 31,2024 the ratio of return on investment has not been disclosed.

35 Disclosure as required under the micro, small and medium enterprises development act, 2006, to the extent
ascertained, and as per notification number GSR 679 (E) dated 4th September, 2015

Note : The above information has been determined to the extent such parties identified on the basis of information
available with the Company.

36 Related Party Disclosures

36.1 Name of the related parties and description of relationship

A Enterprise having significant influence over the Company (by virtue of having more than 20% voting
rights)

- Shri Vasuprada Plantations Limited (by virtue of having more than 20% voting rights)

B Key Management Personnel

Mr. Hemant Bangur - Non-Executive Director
Mr. Jay Kumar Surana - Independent Director
Mrs. Tara Purohit - Independent Director (upto 31.03.2025)

Mrs. Komal Bhotika - Independent Director (w.e.f. 28.03.2025)

- Mr. C.P. Sharma - Wholetime Director

C Entities over which Key Management Personnels are able to exercise control/joint control/significant
influence

- Credwyn Holdings (I) Private Limited (CHPL)

- The Oriental Company Limited (TOCL)

38.2 The management assessed that the fair values of cash and cash equivalents, borrowings and trade payables
approximates their carrying amounts largely due to the short-term maturities of these instruments.

38.3 The following methods and assumptions were used to estimate the fair values:

The fair values for loans, were calculated based on cash flows discounted using a current lending rate. They are
classified as Level 3 fair values in the fair value hierarchy due to the inclusion of unobservable inputs including
counterparty credit risks, which has been assessed to be insignificant.

39 Financial Risk Management

Financial management of the Company has been receiving attention of the top management of the Company.
Various kinds of financial risks and their mitigation plans are as follows:

39.1 Liquidity Risk

The Company determines its liquidity requirement in the short, medium and long term. This is done by drawings
up cash forecast for short term and long term needs. The Company manage its liquidity risk in a manner so as
to meet its normal financial obligations without any significant delay or stress. Such risk is managed through
ensuring operational cash flow while at the same time maintaining adequate cash and cash equivalent position.
The management has arranged for diversified funding sources and adopted a policy of managing assets with
liquidity monitoring future cash flow and liquidity on a regular basis.

c The amounts are gross and undiscounted, and include contractual interest payments and exclude the
impact of netting agreements (if any). It is not expected that cash flows included in the maturity analysis
could occur significantly earlier, or at significantly different amounts.

39.3 Foreign Exchange Risk

Foreign Exchange Risk is the exposure of the Company to the potential impact of movements in foreign exchange
rates. There is no exposure of foreign currency and hence the management has assessed that there is no foreign
currency risk during the year (Previous Year: Rs. Nil)

39.4 Interest Rate Risk

The Company has borrowings which carries fixed rate of interest. The management has assessed that exposure
of the Company in interest rate risk at the end of the year is Rs. Nil (Previous Year: Rs. Nil)

40 Capital Management

The Company objective to manage its capital is to ensure continuity of business while at the same time provide
reasonable returns to its various stakeholders but keep associated costs under control. Sourcing of capital is
done through judicious combination of equity/internal accruals and borrowings. Net debt (total borrowings less
investments and cash and cash equivalents) to equity ratio is used to monitor capital.

* As the Company is having negative networth as on 31st March, 2025 & 31st March, 2024, debt equity ratio
cannot be computed.

41 In an earlier year the Company had received entire sale consideration in respect of sale of Kinalur Estate. The
process of registration of Land in the name of few buyers are in the process of completion.

42 The Networth of the company has been fully eroded. The company is developing its land assets in Goa and
considering income earned during the year and future plans of the company, the going concern status of the
company is maintained. Further, considering the income earned during the current & previous year and based on
future profitability projection, the Company has recognised deferred tax assets (net) on brought forward losses
& unabsorbed depreciation during the current year. Hence, a sum of ' 56.26 lakhs (Net of current year utilisation)
has been recognised.

As per our Report annexed For and on behalf of Board of Directors

For and on behalf of

For Singhi & Co

Chartered Accountants Hemant Bangur C.P. Sharma

Firm Regn. No. 302049E Non Executive Director Wholetime Director

(DIN : 00040903) (DIN :00258646)

Gopal Jain

Partner Arun Kumar Ruia Mohit Kandoi

Membership No. 059147 Chief Financial Officer Company Secretary

Place: Kolkata

Dated : 9th May, 2025