NOTES TO THE FINANCIAL STATEMENTS

1. During the year, the company has suspended its operations of Wheat Grinding w.e.f. 01.02.2015

2. The Balances of Sundry Debtors and Creditors are subject to confirmation and reconciliation. In the opinion of the Board of Directors, the Current Assets are approximately of the value stated, if realized in the ordinary course of business.

3. The Revenue Expenses incurred which are wholly and exclusively for the purpose of the business of the Company have been charged to Profit and Loss Account, though in certain cases like electricity etc., the bills are not in the name of the Company.

4. BUSINESS SEGMENT AND OPERATIONS:

In the context of Accounting Standard -17 on "Segment Reporting", management considers its operations to constitute primary segments namely "MANUFACTURING OF DIFFERENT TYPES OF FLOURS". The Plastic Unit of the Company was leased out and business of plastic unit had been discontinued.

5. There are no Micro and Small Enterprise to whom company owes dues, which are outstanding for more than 45 days as on 31st March, 2015. The above information has been determined to the extent such parties could be identified on the basis of the information available with the Company regarding the status of suppliers under the MSME.

6. The demand which was raised against the Block Assessment Order passed U/s. 158BC of the Income-tax Act was disputed by the company and in that said matter the Income Tax Appellate Tribunal has passed the order. The tax as per the order of the ITAT had been paid in earlier years. The Taxes paid against the income tax liability were shown under the head in Note 12 "Other Non Current Assets" as Income Tax for Block Assessment. During the year the company has transferred the same to the Reserve and Surplus by debiting the Opening Balance of Profit and Loss Account. Accordingly the carrying amount of Income Tax for Block Assessment in Other Non - Current Assets is NIL

7. Value of imports on CIF Basis Rs. Nil (Previous Year Rs. Nil). Foreign Exchange Expenditure Rs. Nil (Previous Year Rs. Nil).

8. During the year the company has suspended its operations of Wheat Grinding and also certain Fixed Assets have been disposed off. The timing differences between taxable income and accounting are not expected to be reversed in coming years. Accordingly the outstanding balance of Deferred Tax Asset as on 01.04.2014 has been reversed. Moreover, no provision for DTA / DTL has been made in the current year.

9. Figures of brvious year have been regrouped /rearranged wherever necessary so as to make them comparable with those of current year

STATEMENT OF SIGNIFICANT ACCOUNTING POLICIES AND PRACTICES

1. BASIS OF ACCOUNTING brPARATION:

These financial statements have been brpared under historical cost convention from books of accounts maintained on an accrual basis (unless otherwise stated hereinafter) in conformity with accounting principles generally accepted in India and comply with the Accounting Standards issued by the Institute of Chartered Accountants of India and referred to Sec 129 & 133 of the Companies Act, 2013, of India. The accounting policies applied by the company are consistent with those used in brvious year.

2. USE OF ESTIMATES:

The brparation of financial statements requires the management of the company to make estimates and assumptions that affect the reported balances of assets and liabilities and disclosures relating to the contingent liabilities as at the date of the financial statements and reported amounts of income and expenses during the year. Difference between the actual results and estimates are recognized in the period in which the results are known / materialized.

3. FIXED ASSETS:TANGIBLE ASSETS Own Fixed Assets

Fixed Assets are stated at historical cost of acquisition less accumulated debrciation. Cost includes related expenditure incurred for bringing the asset to its working condition for its intended use.

Leased Fixed Assets

Leased Fixed Assets: Operating Leases: Rentals are expensed with reference to lease terms and other considerations.

4. DEPRICIATION

Debrciation on fixed assets has been provided on Straight Line Method based on life assigned to each asset in accordance with Schedule II of The Companies Act, 2013. Debrciation on assets acquired and put to use during the year is provided on pro-rata basis. Debrciation on assets sold during the year has not been provided for in the books ofaccounts.

5. INVENTORIES:

a. Raw materials are stated at cost or net realizable value whichever is lower. Cost includes expenses for procuring the same and is computed on First In First Out basis.

b. Stock of finished goods and materials in process have been valued at cost or net realizable value whichever is lower. The cost includes direct cost and attributable overheads.

c. Packing materials, stores and spares are stated at cost or net realizable value whichever is lower.

Cost is computed on First in first out basis.

6. INVESTMENTS:

Long term investments are stated at cost less provision for other than temporary diminution in value.

7. EVENTS OCCURRING AFTER THE BALANCE SHEETDATE:

Events occurring after the Balance sheet date have been considered in the brparation of financial statements.

8. REVENUE RECOGNITION:

Sales are recorded net of returns, trade discounts, rebates and sales taxes. Lease Rent Income is recognized on the basis of terms of agreement.

9. RETIREMENT BENEFITS:

i. TheCompanymakesthecontributionstoProvidentFundatthebrscribedratesandaccountsthe same on basis of actual liability. .

ii. The Present value of the defined benefit obligation and the related current service cost were measured for Gratuity with actuarial valuation being carried out at the year end.

iii. Leave encashment are not ascertained actuarially but provided for at the gross undiscounted amount payable, the effect of which on accounts is not material.

10. TAXATION:

Tax expense comprises of current tax and deferred tax. Current tax ismeasured at the amount expected to be paid to the tax authorities, using the applicable tax rates.The Company provides for Income Tax on estimated taxable income and based on expected outcome of assessments/appeals, in accordance with the provisions of the Income Tax Act, 1961 and rules framed there under. Deferred income tax reflect the current period timing differences between taxable income and accounting income for the period and reversal of timing differences of earlier years/period. Deferred tax assets are recognized only to the extent that there is a reasonable certainty that sufficient future income will be available except that deferred tax assets, in case there are unabsorbed debrciation or losses, are recognized if there is virtual certainty that sufficient future taxable income will be available to realize the same. Deferred tax assets and liabilities are measured using the tax rates and tax law that have been enacted or substantively enacted by the Balance Sheet date.

As per our Report of even date attached

For T. K. TEKWANI & CO.

Chartered Accountants

(T. K. TEKWANI)

Proprietor

(Membership No. 33551)

[FRN No. : 110851W]

For & On Behalf of Board of Directors

SHANKAR T. AHUJA Director

ANIL S. AHUJA Managing Director

THAKUR D. JASWANI (CFO)

Place: Ahmedabad

Date : 20th May, 2015