Ramgopal Polytex Ltd. ಖಾತೆಯ ಉಪಯುಕ್ತ ಮಾಹಿತಿ

Mar 31, 2025

d. Rights Attached to Equity Shares

The Company has only one class of Equity Shares having par value of Rs 10. Each holder of equity shares is entitled to one vote per share. In the event of liquidation of the Company, the holder of equity shares will be entitled to receive any of the remaining assets of the Company, after distribution of all preferential amounts.

*Acquisition pursuant to amalgamation of Ramgopal Textiles Limited and Tarapur Synthetics Private Limited (“Transferor Companies”) forming part of promoter group of the Company with Ramgopal Investment and T rading Company Private Limited (“Transferee Company”) forming part of promoter group of the Company as per the Scheme of Amalgamation approved by the Hon’ble National Company Law T ribunal, Mumbai Bench (“NCLT”) vide its Order dated April 17, 2024. The certified copy of the

said NCLT order received on April 24, 2024 was filed with MCA (in e-Form INC 28) on 27th May, 2024 by transferee Company. There is no change in the shareholding of the promoter and promoter group. (Post amalgamation shareholding of Ramgopal Investment and Trading Company Private Limited is 26,61,296 equity shares equivalent to 18.35%). The Company have already intimated the same to Stock Exchanges.

a) Capital Reserve

Capital Reserve is created on account of subsidy received from State Government. The Same will not be used for distribution of dividend.

b) Securities Premium

Securities Premium is used to record the premium on issue of shares. The Reserve is utilised in accordance with the provision of Section 52 of The Companies Act, 2013.

c) Balance in Statement of Profit and Loss

Balance in Statement of Profit and Loss are the losses that the Company has incurred till date, less any transfers to general reserve, dividends or other distributions paid to Shareholders.

NOTE 28

Earnings per Share (EPS)

Basic EPS amount is calculated by dividing the profit/(Loss) for the year attributable to equity holders of the Company by the weighted average number of Equity shares outstanding during the year.

Diluted EPS amount is calculated by dividing the profit/(Loss) attributable to equity holders of the Company (after adjusting profit impact of dilutive potential equity shares, if any) by the aggregate of weighted average number of Equity shares outstanding during the year and the weighted average number of Equity shares that would be issued on conversion of all the dilutive potential Equity shares into Equity shares of the Company.

NOTE 30:

Defined Benefit Plan:

Gratuity

In accordance with the Payment of Gratuity Act, 1972, the Company is required to provide post employment benefit to its employees in the form of gratuity. The present value of the obligation under such defined benefit plan is determined at each balance sheet date based on an actuarial valuation using the projected unit credit method.

NOTE 31

Financial Instruments - Fair Values and Risk Management (a) Financial Risk Management

The Company’s principal financial liabilities comprise loans and borrowings, trade and other payables. The purpose of these financial liabilities is to finance the Company’s operations and to provide to support its operations. The Company’s principal financial assets trade and other receivables and cash and cash equivalents that derive directly from its operations.

The Company’s activities exposes it to Liquidity Risk, Market Risk and Credit Risk. The Board of Directors reviews and agrees policies for managing each of these risks, which are summarised as below.

i. Liquidity Risk

The risk that an entity will encounter difficulty in meeting obligations associated with financial liabilities that are settled by delivering cash or another financial asset. Liquidity risk management implies maintenance sufficient cash including availability of funding through an adequate amount of committed credit facilities to meet the obligations as and when due.

The Company manages its liquidity risk by ensuring as far as possible that it will have sufficient liquidity to meet its short term and long term liabilities as and when due. Anticipated future cash flows, undrawn committed credit facilities are expected to be sufficient to meet the liquidity requirements of the Company.

ii. Market Risk

Market risk is the risk that the fair value of future cash flows of a financial instrument will fluctuate because of changes in market prices. Market risk comprises three types of risk: interest rate risk, currency risk and other price risk, such as equity price risk and commodity price risk.

a) Foreign Currency Risk

Currency risk is the risk that the fair value or future cash flows of a financial instrument will fluctuate because of changes in foreign exchange rates. The Company does not have foreign currency exposure as at the year end.

b) Interest Rate Risk

Interest rate risk is the risk that the fair value or future cash flows of the financial instruments will fluctuate because of changes in market interest rates. The Company does not have any borrowings at the year end.

iii. Credit Risk

Credit risk is the risk of financial loss to the Company if a customer or counter-party fails to meet its contractual obligations. The Company is exposed to credit risks from its operating activities, primarily trade receivables, cash and cash equivalents, deposits with banks and other financial instruments.

NOTE 32

Capital Management

For the purpose of the Company’s capital management, capital includes issued capital and other equity reserves. The primary objective of the Company’s Capital Management is to maximise shareholders value. The Company manages its capital structure and makes adjustments in the light of changes in economic environment and the requirements of the financial covenants.

The Company monitors capital using Adjusted net debt to equity ratio. For this purpose, adjusted net debt is defined as total debt less cash and bank balances

NOTE 34 Contingent Liability not provided for in respect of:		(Rupees in Lakhs)
Particulars	March 31,2025	March 31, 2024
Disputed Sales Tax Demand	3.77	3.77

NOTE 35

Balances of certain trade receivables, loans and advances given and trade payables are subject to confirmation/reconciliation. In the opinion of the Board, the difference as may be noticed on such reconciliation will not be material.

NOTE 36

Operating Leases

The Company has taken certain godowns under cancelable operating leases. The lease agreements are usually renewable by mutual consents on mutually agreeable terms. Rent payment of Rs. 0.72 Lakhs (Previous Year Rs. 0.72 Lakhs) has been disclosed as rent in the Note No. 27 ‘Other Expenses’.

NOTE 38

The Company’s main business is trading of Polymer and Yarn etc. Accordingly, there are no separate reportable segment as per IND AS 108.

NOTE 39

Other Statutory Information:

(i) The Company do not have any Benami property, where any proceeding has been initiated or pending against the Company for holding any Benami property.

(ii) The Company do not have any transactions with struck off Companies.

(iii) The Company does not have any charges or satisfaction which is yet to be registered with ROC beyond the statutory period, except for eight charges created between the period from 1993 to 1999 where date of satisfaction is not reflected on the MCA portal and therefore, shown as outstanding. These are being regularised.

(iv) The Company have not traded or invested in Crypto currency or Virtual Currency during the financial year.

(v) 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.

(vi) 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.

(vii) The Company do not have any 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).

(viii) 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.

(ix) The Company is not declared wilful defaulter by any bank or financial institution or lender during the year.

NOTE 40

Recent Accounting Pronouncements

a) New and amended standards adopted by the Company:

Ministry of Corporate Affairs (“MCA”) notifies new standards or amendments to the existing standards under Companies (Indian Accounting Standards) Rules as issued from time to time. MCA has notified Ind AS - 117 Insurance Contracts & consequential amendments to the other standards and amendments to Ind AS 116 - Leases, relating to sale and leaseback transactions, applicable to the Company w.e.f. April 1,2024.

The Company has reviewed this new pronouncement and based on its evaluation has determined that it does not have any impact in its financial statements.

B) New Standards/Amendments notified but not yet effective:

On May 7, 2025, MCA has notified amendment to Ind AS 21 on determining when a currency is non-exchangeable and require estimation of the spot exchange rate using observable market-based inputs applicable from May 7, 2025.

The Company is in the process of evaluating the impact of the above amendment which is not expected to have any material impact on the financial statements of the Company.

NOTE 41

The Indian Parliament has approved the Code on Social Security, 2020 (“the Code”) which, inter alia, deals with employee benefits during employment and post-employment, and the same has received Presidential assent in September 2020. The Code has been published in the Gazette of India. However, the date on which the Code will come into effect has not been notified. The Company will assess the impact of the Code and recognise the same when the Code becomes effective.

NOTE 42

Figures for the previous years have been regrouped / restated wherever necessary to conform to current year’s presentation. NOTE 43

Approval of Fianancial Statements

The financial statements were approved for issue by the Board of Directors on May 22, 2025.

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Mar 31, 2024

(xii) Provisions, Contingent Liabilities and Contingent Assets

Provisions are recognized, when there is a present legal or constructive obligation as a result of past events, where it is
probable that there will be outflow of resources to settle the obligation and when a reliable estimate of the amount of the
obligation can be made. Where a provision is measured using the cash flows estimated to settle the present obligation, its
carrying amount is the present value of those cash flows. Where the effect is material, the provision is discounted to net
present value using an appropriate current market-based pre-tax discount rate and the unwinding of the discount is included
in finance costs.

Contingent liabilities are recognised only when there is a possible obligation arising from past events, due to occurrence or
non-occurrence of one or more uncertain future events, not wholly within the control of the Company, or where any present
obligation cannot be measured in terms of future outflow of resources, or where a reliable estimate of the obligation cannot
be made. Obligations are assessed on an ongoing basis and only those having a largely probable outflow of resources are
provided for.

Contingent assets are not disclosed in the financial statements unless an inflow of economic benefits is probable.

(xiii) Leases

The Company assesses whether a contract is or contains a lease, at inception of a contract. A contract is, or contains, a
lease if the contract conveys the right to control the use of an identified asset for a period of time in exchange for consideration.

At the date of commencement of the lease, the Company recognises a right-of-use asset (“ROU”) and a corresponding
lease liability for all lease arrangements in which it is a lessee, except for leases with a term of twelve months or less (short¬
term leases) and leases of low value assets. For these short-term and leases of low value assets, the Company recognises
the lease payments as an operating expense on a straight-line basis over the term of the lease.

The right-of-use assets are initially recognised at cost, which comprises the initial amount of the lease liability. They are
subsequently measured at cost less accumulated depreciation and impairment losses, if any. Right-of-use assets are
depreciated from the commencement date on a straight-line basis over the shorter of the lease term and useful life of the
underlying asset.

The lease liability is initially measured at the present value of the future lease payments. The lease payments are discounted
using the interest rate implicit in the lease or, if not readily determinable, using the incremental borrowing rates. The lease
liability is subsequently remeasured by increasing the carrying amount to reflect interest on the lease liability, reducing the
carrying amount to reflect the lease payments made.

A lease liability is remeasured upon the occurrence of certain events such as a change in the lease term or a change in an
index or rate used to determine lease payments. The re-measurement normally also adjusts the leased assets.

Lease liability and ROU asset have been separately presented in the Balance Sheet and lease payments have been
classified as financing cash flows.

(xiv) Foreign Currency Transactions

Transactions in foreign currency are recorded at the rate of exchange in force at the date of the transaction. Assets and
Liabilities in foreign currency outstanding at the year end, if any, are stated at the rate of exchange prevailing at the close
of the year and the resultant gain / loss is recognised in the Statement of Profit and Loss.

(xv) Cash and Cash Equivalents

The Company considers all highly liquid financial instruments, which are readily convertible into known amounts of cash
that are subject to an insignificant risk of change in value and having original maturities of three months or less from the
date of purchase, to be cash equivalents. Cash and cash equivalents consist of balances with banks which are unrestricted
for withdrawal and usage.

a) Capital Reserve

Capital Reserve is created on account of subsidy received from State Government. The Same will not be used for distribution
of dividend.

b) Securities Premium

Securities Premium is used to record the premium on issue of shares. The Reserve is utilised in accordance with the provision
of Section 52 of The Companies Act, 2013.

c) Balance in Statement of Profit and Loss

Balance in Statement of Profit and Loss are the losses that the Company has incurred till date, less any transfers to general
reserve, dividends or other distributions paid to Shareholders.

(a) Financial Risk Management

The Company’s principal financial liabilities comprise loans and borrowings, trade and other payables. The purpose of these
financial liabilities is to finance the Company’s operations and to provide to support its operations. The Company’s principal
financial assets trade and other receivables and cash and cash equivalents that derive directly from its operations.

The Company’s activities exposes it to Liquidity Risk, Market Risk and Credit Risk. The Board of Directors reviews and agrees
policies for managing each of these risks, which are summarised as below.

i. Liquidity Risk

The risk that an entity will encounter difficulty in meeting obligations associated with financial liabilities that are settled by
delivering cash or another financial asset. Liquidity risk management implies maintenance sufficient cash including availability
of funding through an adequate amount of committed credit facilities to meet the obligations as and when due.

The Company manages its liquidity risk by ensuring as far as possible that it will have sufficient liquidity to meet its short
term and long term liabilities as and when due. Anticipated future cash flows, undrawn committed credit facilities are
expected to be sufficient to meet the liquidity requirements of the Company.

ii. Market Risk

Market risk is the risk that the fair value of future cash flows of a financial instrument will fluctuate because of changes in
market prices. Market risk comprises three types of risk: interest rate risk, currency risk and other price risk, such as equity
price risk and commodity risk.

a) Foreign Currency Risk

Currency risk is the risk that the fair value or future cash flows of a financial instrument will fluctuate because of
changes in foreign exchange rates. The Company does not have foreign currency exposere as at the year end.

b) Interest Rate Risk

Interest rate risk is the risk that the fair value or future cash flows of the financial instruments will fluctuate because of
changes in market interest rates. The Company’s long term borrowings have fixed rate of interest and are carried at
amortised costs. The interest rate risk exposure is mainly from changes in floating interest rates. The interest rate are
disclosed in the respective notes to the financial statement of the Company. The following table analyse the breakdown
of the financial assets and liabilities by type of interest rate:

iii. Credit Risk

Credit risk is the risk of financial loss to the Company if a customer or counter-party fails to meet its contractual obligations.
The Company is exposed to credit risks from its operating activities, primarily trade receivables, cash and cash equivalents,
deposits with banks and other financial instruments.

NOTE 34

Capital Management

For the purpose of the Company’s capital management, capital includes issued capital and other equity reserves. The primary
objective of the Company’s Capital Management is to maximise shareholders value. The Company manages its capital structure
and makes adjustments in the light of changes in economic environment and the requirements of the financial covenants.

The Company monitors capital using Adjusted net debt to equity ratio. For this purpose, adjusted net debt is defined as total debt
less cash and bank balances

Balances of certain trade receivables, loans and advances given and trade payables are subject to confirmation/reconciliation. In
the opinion of the Board, the difference as may be noticed on such reconciliation will not be material.

NOTE 38

Operating Leases

The Company has taken certain godowns under cancelable operating leases. The lease agreements are usually renewable by
mutual consents on mutually agreeable terms. Rent payment of Rs. 0.72 Lakhs (Previous Year Rs. 0.72 Lakhs) has been disclosed
as rent in the Note No. 29 ‘Other Expenses’.

The Company’s main business is trading of Polymer and Yarn etc. Accordingly, there are no separate reportable segment as per
IND AS 108.

NOTE 41

Other Statutory Information:

(i) The Company do not have any Benami property, where any proceeding has been initiated or pending against the Company for
holding any Benami property.

(ii) The Company do not have any transactions with struck off Companies.

(iii) The Company does not have any charges or satisfaction which is yet to be registered with ROC beyond the statutory period,
except for eight charges created between the period from 1993 to 1999 where date of satisfaction is not reflected on the MCA
portal and therefore, shown as outstanding. These are being regularised.

(iv) The Company have not traded or invested in Crypto currency or Virtual Currency during the financial year.

(v) 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.

(vi) 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.

(vii) The Company do not have any 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).

(viii) 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.

(ix) The quarterly returns or statements of current assets filed by the Company with banks or financial institutions are in agreement
with the books of accounts.

(x) The Company is not declared wilful defaulter by any bank or financial institution or lender during the year.

NOTE 42

Recent Accounting Pronouncements

There has been no announcements in respect of amendments announcement in INDAS applicable for next financial Year 2024¬
2025.

NOTE 43

The Indian Parliament has approved the Code on Social Security, 2020 (“the Code”) which, inter alia, deals with employee benefits
during employment and post-employment, and the same has received Presidential assent in September 2020. The Code has been
published in the Gazette of India. However, the date on which the Code will come into effect has not been notified. The Company will
assess the impact of the Code and recognise the same when the Code becomes effective.

NOTE 44

Figures for the previous years have been regrouped / restated wherever necessary to conform to current year’s presentation.
NOTE 45

Approval of Fianancial Statements

The financial statements were approved for issue by the Board of Directors on May 29, 2024.

As per our attached report of Even Date

For SHANKER AND KAPANI
Chartered Accountants

Firm Registration No : 117761W For and on Behalf of Board of Directors

PAWAN KUMAR RUNGTA Sanjay M Jatia Pannalal N Jyotshi

Partner Chairman and Managing Director Director

Membership No. 42902 DIN: 00913405 DIN: 07248640

Navalkishor Gadia Manorama Yadav

Place : Mumbai Chief Financial Officer Company Secretary

Date : May 29, 2024 Membership No. A36619

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Mar 31, 2013

1.1 Contingent Liabilities not provided for in respect of:

Current Year Previous Year (Rupees) (Rupees)

(a) Claims against the Company not acknowledged as debts. 7,11,832 7,11,832

(b) Disputed Customs and Central Excise Duties on Export Nil 7,81,33,551 Commitments (excluding interest)

(c) Disputed Sales Tax Demands 60,08,863 60,08,863

1.2 Calls unpaid are subject to reconciliation since quite some time with the Registrar to the Issue.

1.3 The Company''s main business is trading of Yarns, Metal, etc. All other activities of the Company are incidental to the main business. As such, there is no other reportable segment as per the Accounting Standard-17 "Segment Reporting" notified under Companies (Accounting Standards) Rules, 2006.

1.4 Related Party disclosures :

Related party disclosures as required by AS-18 "Related Party Disclosures", are given below. a) List of Related Parties:

1) Parties where control exists - Nil

2) Enterprises where significant influence exercised with whom the Company has entered into transactions:

Ramgopal Textiles Limited Ramgopal Synthetics Limited

J.M.Commodities Limited J.M.Trading Corporation

Notes:

i) No amounts pertaining to related parties have been provided for as doubtful debts. Also, no amount has been written off /back.

ii) Details relating to investments in the above related parties have been disclosed in the Note No ''11'' Non Current Investments.

iii) The related parties are as identified by the Company and relied upon by the auditors.

1.5 In the opinion of the management, assets other than fixed assets and non-current investments have a value on realization in the ordinary course of business at the amount at which they are stated.

1.6 Short term loans and advances include Security Deposits to a partnership firm in which a director of the Company is interested as partner Rs.50,000 (previous year Rs.50,000) towards go down taken on hire.

1.7 Balances of certain trade receivables, certain loans and advance given, unpaid dividend account and trade payables are subject to confirmation/reconciliation. In the opinion of the management, the difference as may be noticed on such reconciliation will not be material.

1.8 Company is making efforts to appoint Company Secretary under Section 383A of the Companies Act, 1956.

1.9 There are no dues to Micro, Small and Medium Enterprises as at the close of the year.

1.10 Operating Leases:

The Company has taken certain go downs under cancelable operating leases. The lease agreements are usually renewable by mutual consents on mutually agreeable terms.

1.11 Outstanding Derivative Instruments and Unheeded Foreign Currency Exposure:

Note: Previous year''s figures have been given in brackets.

1.12 Previous year''s figures have been regrouped / rearranged so as to make them comparable with current year''s figures.

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Mar 31, 2012

Rights attached to Equity Shares

The Company has only one class of Equity Shares having par value of Rs. 10. Each holder of equity shares is entitled to one vote per share. In the event of liquidation of the Company, the holder of equity shares will being entitled to receive any of the remaining assets of the company, after distribution of all preferential amounts.

1.1 Contingent Liabilities not provided for in respect of:

Current Year Previous Year (Rupees) (Rupees)

(a) Guarantees issued by Bank in favour of Customs Authorities. Nil 1,84,520

(b) Claims against the Company not acknowledged as debts. 7,11,832 7,11,832

(c) Disputed Customs and Central Excise Duties on Export Commitments (excluding 7,81,33,551 7,81,33,551 interest)

(d) Disputed Income Tax Demands Nil 27,38,094

(e) Disputed Sales Tax Demands 60,08,863 60,08,863

1.2 Calls unpaid are subject to reconciliation since quite some time with the Registrar to the Issue.

1.3 The Company's main business is trading of Yarns, Metal, Coal, etc. All other activities of the Company are incidental to the main business. As such, there is no other reportable segment as per the Accounting Standard-17 "Segment Reporting" notified under Companies (Accounting Standards) Rules, 2006.

1.4 Related Party disclosures:

Related party disclosures as required by AS-18 "Related Party Disclosures", are given below.

a) List of Related Parties:

1) Parties where control exists - Nil

2) Other parties with whom the Company has entered into transactions:

Associates

Ramgopal Textiles Limited

Aristocrat Marketing Limited

J. M. Textiles Limited

Ramgopal Synthetics Limited

J. M. Trading Corporation

Notes:

i) No amounts pertaining to related parties have been provided for as doubtful debts. Also, no amount has been written off/back.

ii) Details relating to investments in the above related parties have been disclosed in the Note No. '9' Non Current Investments.

iii) The related parties are as identified by the Company and relied upon by the auditors.

1.5 Trade receivables of Rs. 4,60,400 (Previous Year Rs. 21,42,675), and advances of Rs. Nil (Previous Year Rs. 89,520) have become long overdue but are fully recoverable and therefore, no provision has been considered necessary.

1.6 In the opinion of the management, assets other than Fixed assets and non-current investments have a value on realisation in the ordinary course of business at the amount at which they are stated.

1.7 Short term loans and advances include Security Deposits to a partnership firm in which a director of the Company is interested as partner Rs. 50,000 (previous year Rs. 50,000) towards godown taken on hire.

1.8 Balances of certain trade receivables, loans and advances, unpaid dividend account and trade payables are subject to confirmation/reconciliation. In the opinion of the management, the difference as may be noticed on such reconciliation will not be material.

1.9 Company is making efforts to appoint Company Secretary under Section 383A of the Companies Act, 1956.

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Mar 31, 2011

1. Contingent Liabilities not provided for in respect of:

Current Year Previous Year (Rupees) (Rupees)

(a) Guarantees issued by Bank in favour of Customs Authorities. 1,84,520 1,84,520

(b) Claims against the Company not acknowledged as debts. 7,11,832 -

(c) Disputed Customs and Central Excise Duties on Export Commitments (excluding interest) 7,81,33,551 7,81,33,551

(d) Disputed Income Tax Demands 27,38,094 1,02,61,810

(e) Disputed Sales Tax Demands 60,08,863 6,56,422

2. Calls unpaid are subject to reconciliation since quite some time with the Registrar to the Issue.

3. The Company's main business is trading of Yarns, Metal, Coal, etc. All other activities of the Company are incidental to the main business. As such, there is no other reportable segment as per the Accounting Standard-17 "Segment Reporting" notified under Companies (Accounting Standards) Rules, 2006.

4. Related Party disclosures :

Related party disclosures as required by AS-18 "Related Party Disclosures", are given below.

a) List of Related Parties:

1) Parties where control exists - Nil

2) Other parties with whom the Company has entered into transactions:

Associate / Group Companies / Concerns

Ramgopal Textiles Limited

Ramgopal Synthetics Limited

J.M.Textiles Limited

Aristocrat Marketing Limited

J.M.Trading Corporation

Tarapur Vastra Udyog Private Limited

5. Sundry Debtors of Rs.21,42,675 (Previous Year Rs.14,60,329) and loans & advances of Rs.89,520 (Previous Year Rs.89,520) have become long overdue but are fully recoverable and therefore, no provision has been considered necessary.

6. In the opinion of the Board, the current assets and loans & advances have a value on realisation in the ordinary course of business at least equal to the amount at which they are stated in the Balance Sheet. The provision for depreciation and other known liabilities is adequate and not in excess of what is reasonably necessary.

7. Loans and Advances include :

(b) Security Deposits to a partnership firm in which certain directors of the company are interested as partners Rs.50,000 (previous year Rs.50,000) towards godown taken on hire.

8. Balances of certain sundry debtors, loans & advances, unpaid dividend account and sundry creditors are subject to confirmation/reconciliation. In the opinion of the management, the difference as may be noticed on such reconciliation will not be material.

9. Company is making efforts to appoint company secretary under Section 383A of the Companies Act, 1956.

10. No provision has been considered necessary for diminution in the fair / market value of quoted investments, as in the opinion of the management, the diminution is on account of temporary market features and the investments were made on long-term basis.

11. There are no dues to Micro, Small and Medium Enterprises as at the close of the year.

12. Previous year's figures have been re-cast, re-classified and re-grouped wherever considered necessary so as to correspond with current year's figures.

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Mar 31, 2010

1. Contingent Liabilities not provided for in respect of:

Current Year Previous Year (Rupees) (Rupees)

(a) Guarantees issued by Bank in favour of Customs 1,84,520 1,84,520 Authorities.

(b) Disputed Sales Tax dues (excluding interest) reimbursable 8,43,979 8,43,979 to company's consignment agent.

(c) Disputed Customs and Central Excise Duties on Export 7,81,33,551 7,81,33,551 Commitments (excluding interest)

(d) Disputed Income Tax Demands 10,06,682 1,02,61,810

(e) Disputed Sales Tax Demands 40,106 9,78,538

2. Calls unpaid are subject to reconciliation since quite some time with the Registrar to the Issue.

3. The Company's main business is trading of Yams, Metal, Coal, etc. All other activities of the Company are incidental to the main business. As such, there is no other reportable segment as per the Accounting Standard-17 "Segment Reporting" issued by the Institute of Chartered Accountants of India.

4. Related Party disclosures :

Related party disclosures as required by AS-18 "Related Party Disclosures", arc given below, a) List of Related Parties:

1) Parties where control exists - Nil

2) Other parties with whom the Company has entered into transactions:

Associate / Group Companies / Concerns

Ramgopal Textiles Limited

Ramgopal Synthetics Limited

J.M.Textiles Limited

Aristocrat Marketing Limited

J.M.Trading Corporation

Tarapur Vastra Udyog Private Limited

Notes:

i) No amount pertaining to related parties have been provided for as doubtful debts. Also, no amount has been written off /back.

ii) Details relating to investments in the above related parties have been disclosed in the Schedule '6': • Investments.

iii) The related parties are as identified by the Company and relied upon by the auditors.

5. Sundry Debtors of Rs. 14,60,329 (Previous Year Rs.40,97,443) and loans & advances of Rs.89,520 (Previous Year Rs.2,50,000) have become long overdue but are fully recoverable and therefore, no provision has been considered necessary.

6. Inventories include stock of steaming (Non Cocking) coal of the book value of Rs. 1,17,37,425 being an entire imported shipment lying at Shreeji Shipping plot at Navlakhi Port for morethan past two years. Shortages due to combustion etc. would be accounted for in the year of ascertainment on its disposal.

7. In the opinion of the Board, the current assets and loans & advances have a value on realisation in the ordinary course of business at least equal to the amount at which they are stated in the Balance Sheet. The provision for depreciation and other known liabilities is adequate and not in excess of what is reasonably necessary.

(a) Security Deposits to a partnership firm in which certain directors of the company are interested as partners Rs.50,000 (previous year Rs.50,000) towards godown taken on hire.

8. Balances of certain sundry debtors, loans & advances, unpaid dividend account and sundry creditors are subject to confirmation/reconciliation. In the opinion of the management, the difference as may be noticed on such reconciliation will not be material.

9. Company is making efforts to appoint company secretary under Section 383A of the Companies Act, 1956.

10. The Company has an operating lease for office premises which is mutually cancelable / renewable.

Notes:

1) Previous year's figures have been given in brackets.

2) Turnover of Ferrous Metals includes 0.050 MT. (Previous year 32Kgs.) given as free samples.

3) Turnover of Steaming (Non-Cocking) Coals includes Nil M.T. (Previous Year 3096.011 M.T.) Shortage due to Combustion etc.

11. There are no dues lo Micro, Small and Medium Enterprises as at the close of the year.

12. Previous year’s figures have been re-cast, re-classified and re-grouped wherever considered necessary so as to correspond with current year's figures.