b) The Company has only one class of equity shares having at par value of Rs.10/- per share. Each holder of Equity shares is entitled to one vote per share. The Company will pay dividend in Indian rupees as and when declared. No dividend has been proposed by the Board of Directors for the year

c) In the event of liquidation 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 proportion to the number of equity shares held by the shareholders.

a) Estimated amount of the Contracts remaining to be executed on capital account and not provided for : Not ascertainable (Previous Year- Not ascertainable)

b) The company has not given any gurantee.

c) Contingent liabilities not provided for in the book of accounts- Not ascetainable (Previous Year- Not ascertainable)

d) Expenditure on employees who are in receipt of remuneration of not less than Rs. 1,02,00,000/- per annum (previous year Rs.1,02,00,000/- per annum) when employed through out the year or Rs.8,50,000/- per month (previous year Rs.5,00,000/- per month) when employed for part of the year is Nil (previous year Rs. Nil)

e) Previous year figures have been regrouped and/or reclassified wherever necessary.

f) The figures have rounded off to the nearest Rupee in Lakhs.

g) Balances in Sundry Debtors, Creditors and Loans & Advances are subject to confirmation and reconciliation and are stated at the book balance thereof.

h) In the opinion of the Management, the Current Assets, Loans & Advances will fetch the amount as stated, if realised in the ordinary course of its business.

i) The Company is not declared as "willful defaulter" by any bank or financial institution or other lender.

j) There are no transactions with the Companies whose name struck off under section 248 of The Companies Act, 2013 or section 560 of Companies Act, 1956 during the year ended 31 March 2025.

k) All applicable cases where registration of charges or satisfaction is required to be filed with Registrar of Companies have been filed. No registration or satisfaction is pending at the year ended 31 March 2025.

l) The Company has complied with the number of layers prescribed under clause (87) of section 2 of the Companies Act, 2013 read with Companies (Restriction on number of Layers) Rules, 2017.

m) No scheme of arrangement has been approved by the competent authority in terms of Section 230 to 237 of the Companies Act, 2013.

n) The Company has not received any fund from any person or entity, including foreign entities (Intermediaries) with the understanding (whether recorded in writing or otherwise) that the Company shall a) directly or i ndirectly lend or invest in other persons or entities identified in any manner whatsoever by or on behalf of the funding Party (Ultimate Beneficiaries) b) provide any guarantee, security or the like on behalf of the Ultimate Beneficiaries.

o) The Company has not surrendered or disclosed as income during the year in the tax assessments under Income Tax Act, 1961.

p) The Company has not operated in any crypto currency transactions.

q) The Company has called for details of applicability from trade parties from the provisions of Micro, Small and Medium enterprises Development Act, 2006, However no reply has been received from any of the parties, In view of the above no disclosure is made under Micro, Small and Medium enterprises Development Act, 2006,

r) Earnings per share

a. Basic earnings per share are calculated by dividing the net profit/loss attributable to the share holders by the total number of ordinary shares outstanding shares during the year

s) There has been delay in meeting the statutory obligations and dues relating to Goods & Services Tax, Value Added Taxes and Service Tax are overdue by more than 12 months.

During this year, the company has paid dues relating to Provident Fund, Sales Tax and Tax Deducted at sources for Earlier Years amounting to Rs.27.95 Lacs. The Company is taking necessary steps to settle the balance Statutory Dues as and when the sale of assets are completed.

t) During the year, the company has provided Interest of Rs.11.37 Crore for the period from April 2021 to March 2025 as agreed by the RARE ARC letter dated March 04, 2025.

u) No Provision for Gratuity /Leave encashment has been considered during the year due to all the employees of the company except KMP have resigned and there being no eligible employees during the year.

"The Company's account was categorized as NPA by Allahabad Bank and Andhara Bank during the year 2014. In April, 2017, the said Banks assigned the entire debts of the Company alongwith all underlying security interest, all rights, title & benefits to M/s.RARE Asset Reconstruction Limited (previously known as Raytheon Asset Reconstruction Private Limited) under the applicable provisions of the SARFAESI Act. The Company opted for One-Time Settlement offer with the said ARC and obtained in-principle approval from them during March, 2021 and also final approval has been received.

The Company opted for One-Time Settlement offer with the said ARC and obtained in-principle approval from them during March, 2021 and also final approval has been received.

In view of the above, the Company has remitted Rs.60.23 crores to ARC upto 31st March, 2024, from the disposal / sale of assets of company.

For the year, the company has remitted Rs.22.29 Crore from the funds infused by the directors and associate enterprises of the company.

Note No: 36 - Asset Reconstruction Company

The Company's account was categorized as NPA by Allahabad Bank and Andhara Bank during the year 2014. In April, 2017, the said Banks assigned the entire debts of the Company alongwith all underlying security interest, all rights, title & benefits to M/s.RARE Asset Reconstruction Limited (previously known as Raytheon Asset Reconstruction Private Limited) under the applicable provisions of the SARFAESI Act. The Company opted for One-Time Settlement offer with the said ARC and obtained in-principle approval from them during March, 2021 and the final approval of OTS has now been received. As per terms of in-priniple approval, the initial payment of Rs.30 crores was already paid to the said ARC on 30th March, 2021 from the proceeds of sale of Shopping Mall and part of Multiplex properties.

During the year ended 31 March 2024, the company has repaid a further sum of Rs.75 lacs from the refund of security deposit held with M/s. Avenue Supermarts Limited on Sale of Mall and part of multiplex Properties. Out of Total Security deposit of Rs. 5,00,25,000/- held by them, Rs. 3,39,60,000/- was returned and the balance deposit of Rs. 1,60,65,000 was adjusted for the difference in the Measurement as per supplementary deed and the actual measurement as per the Government records. As per the Supplementary deed entered with M/s. Avenue Supermarts Limited on the Sale of Mall and part of multiplex Properties, the company had fully met its obligations and the transaction was completed smoothly.

During the year, the company has remitted Rs.22.29 Crore from the funds infused by the directors and associate enterprises of the company.

Salient features of OTS offer approved by RARE ARC as follows :

1. Total OTS amount is agreed as Rs. 96.80 Cr payable by the Company to RARE ARC towards full and final settlement including Advisory and Consultancy fees payable in several tranches.

2. The Company shall pay a sum of Rs.1.00 Cr plus GST to RARE ARC towards Restructuring and Consultancy fees for arranging and identifying suitable investor / buyer for the secured assets. This sum of Rs.1 crore shall be adjusted in the next installment.

4. The entire OTS payment shall be paid on or before 31st March, 2023, failing which the proposed OTS shall stand invoked by RARE ARC without any further notice.

5. All expenses toward recovery, over and above the OTS amount, incurred and to be incurred by RARE ARC shall be reimbursed by the Company on actual basis.

6. The ARC shall agree to issue NOC / release charge / handover title deeds of the respective properties for sale to any prospective buyer in order to settle the liability.

7. The Company/guarantors shall not raise any further loans, whether secured / unsecured, till the settlement amount is paid.

8. On payment of entire OTS amount, RARE shall realase the charge over the remaining securities / properties and personal guarantees of the promoters/directors of the company and shall issue no due certificate.

9. Both the company and ARC shall arrange to withdraw all the cases filed against each other after payment of entires OTS amount.

In view of the above settlement The Company has remitted Rs.82.52 crores to RARE ARC as on 31st March, 2025from the disposal / sale of assets of company and from the infusion of funds by directors and associatedenterprises as detailed note no. 35 of the financial statement.

Note: 37 : Pending Litigations

The company has filed an stay petition with Labour Court amounting to Rs. 5.99 lacs for payment of damages on late payment of Employees Provident Fund for the period Oct 2015 to Mar 2018 as against the order passed by the Assistants Provident Fund Commissioner

The Company has filed an rectification for the Outstanding demands raised by Income Tax Authorities for payment of Income Tax and Tax Deducted at Source and same is pending for processing. The above said demands are payable subject to pending rectification.

Note: 38 : Segment Reporting

The Company has only one reportable business segment as it deals only in Operation and running of Hotels in terms of Ind AS 108 Operating Segment”. Further, the Company operates only in one geographical segment India. All the assets of the Company are located in India. the Company monitors the operating results as one single segment for the purpose of making decisions about resource allocation and performance assessment. Accordingly, there are no separate reportable segments as per IND-AS 108, “Operating Segment” prescribed under Section 133 of the Companies Act, 2013 read with the Companies (Indian Accounting Standards) Rules, 2015, as amended.

The management assessed that the fair value of cash and cash equivalent, trade receivables, trade payables, and other current financial assets and liabilities approximate their carrying amounts largely due to the short term maturities of these instruments. The fair values of non current borrowings are based on discounted cash flows using a current borrowing rate. They are classified as level 3 fair values in the fair value hierarchy due to the use of unobservable inputs, including own credit risk

NOTE 40 : FINANCIAL RISK MANAGEMENT OBJECTIVES

The Company’s activity exposes itself to variety of financial risk which includes market risk, credit risk, liquidity risk, interest rate risk and price risk. The Company monitors and manages the above financial risks relating to the operations of the group through internal risk reports which analyses exposures by degree and magnitude of risks. The primary focus is to identify risks and take steps for mitigation of risk or to minimise the potential adverse effects on the financial performance of the Company. The Company does not enter into any derivative financial instruments to hedge risk exposures.