1. 89,94,600 Equity Shares of Rs. 5/- each have been allotted as fully paid-up Bonus Shares by way of Capitalization of Share Premium Account.

2. 9,24,300 Shares of Rs. 5/- each were allotted as fully paid-up Bonus Shares by way of Capitalization of General Reserve.

3. 74,520 Shares of Rs. 5/- each, fully paid were issued as pursuant to contract without payment being received in cash.

4. 81,79,340 Shares of Rs. 5/- each, fully paid-up are held by Holding Company Diana Capital Limited.

5. There is no movement in share capital as compared to previous year.

6. Terms/rights attached to equity shares :

7. The Company has only one class of equity shares having par value of Rs. 5 per share. Each holder of equity shares is entitled to one vote per share. The Company declares and pays dividend in Indian Rupees. The dividend if any proposed by Board of Directors is subject to the approval of the shareholders in the ensuing Annual General Meeting.

8. The amount of per share dividend recognized as distributions to equity shareholders is Rs. 0.25 per share (31st March, 2016 : Rs. 0.25 per share).

9. In the event of liquidation of the Company, the holders of the equity shares will be entitled to receive remaining assets of the Company. The distribution will be in proportion to the number of equity shares held by the shareholders.

10. Capital Commitments

As at 31st March 2017, the Company has commitments of Rs. 201.57 Lakhs net of advances relating to estimated amount of contracts to be executed on capital account and not provided for.

11. Depreciation as calculated includes additional charges of Rs. 0.50 Lakhs on revalued assets and an amount equivalent to the additional charges has been transferred to Statement of Profit and Loss from Capital Reserve (Revaluation of Fixed Asset) such transfer according to an authoritative professional view being acceptable for the purpose of the Companies annual accounts.

12. In accordance with the AS-28 on Impairment of Assets, the Company has assessed as on the Balance Sheet date, whether there are any indication (listed in paragraphs 8 to 10 of the standard) with regard to impairment of any assets. Based on such assessment, it has been ascertained that no potential loss is present and therefore, formal estimate of recoverable amount has not been made. Accordingly, no impairment loss has been provided in the books of accounts.

13. The Company has not received any information from its suppliers regarding registration under "The Micro, Small and Medium Enterprises Development Act, 2006". Hence, the information required to be given in accordance with Section 22 of the said Act, is not ascertainable. Hence, not disclosed;

14. However Sundry Creditors includes Rs. NIL (Previous year Rs. 1.99 Lakhs) due to Small Scale Industrial undertakings to the extent such parties have been identified from the available documents/information.

15. No interest was paid by the Company in terms of section 16 of MSMED Act during the Period.

16. There was no interest for delay in making payment beyond appointed date.

17. There is no interest accrued and remaining unpaid beyond the appointed date.

18. No interest is remaining due and payable even in succeeding years, until such that when the interest dues as above are actually paid to Micro, Small and Medium Enterprises for the purpose of disallowance as a deductible expenditure under section 23 of the aforesaid Act.

19. Defined Benefit Plan - Gratuity

No provision has been made in respect of present liabilities for future payment of gratuity to the staff and workers, which will be charged to accounts as and when paid. According to actuarial valuation under Revised AS-15, the liability for gratuity obligation to staff and Workers as on 31st March, 2017 is Rs. 1363.95 Lakhs (Previous Year Rs. 1065.32 Lakhs) and the net liability is Rs. 899.62 Lakhs (Previous Year Rs. 636.81 Lakhs).

The Company extends defined benefit plan in the form of gratuity to employees. Contribution to gratuity is made to Life Insurance Corporation of India, HDFC Standard Life Insurance Company Ltd., SBI Life Insurance Company Ltd, and Birla Sunlife Insurance Company Ltd. and Canara HSBC Oriental Bank of Commerce Life Insurance Company Limited in accordance with the scheme framed by the Corporation. The details are as under:

20. In accordance with Accounting Standard - 13 issued by the Council of the Institute of Chartered Accountants of India, the Long Term Investments in respect of quoted investments held by the Company are valued at cost and Rs. 27.38 Lakhs (Previous year Rs. 107.58 Lakhs) being diminution in values thereof has been considered by the management to be temporary and accordingly has not been recognized in this account. These would, however be covered adequately by the Company's period-end Reserves & Surplus.

21. The Company has provided for deferred tax assets for Rs. 25.30 Lakhs (Previous Year Rs. 1.82 Lakhs Deferred Tax Liability) based on future profitability projection. The management is of the view that future taxable income will be available to realize/adjust such deferred tax assets.

22. In the opinion of the Board of Directors of the Company the Current Assets, Loans, Advances and Deposits are approximately of the value stated in the accounts, if realized, in ordinary course of business unless otherwise stated. The provisions for all known liabilities are adequate and not in excess of the amount reasonably required.

23. The Company is engaged in the business of integrated activities of manufacture and sale of tea, predominantly in the domestic market. Hence, there is no reportable segment as per the Accounting Standard - 17 on "Segment Reporting" as issued by the ICAI.

24. The current financial year is for a period of 12 months ended on 31st March 2017 ("current period") and accordingly, the figures for the current period are not comparable with figures for the period ended 31st March 2016 ("previous year") being 15 months presented in the Statement of Profit and Loss, Cash Flow Statement and related notes.

25. Trade receivables and Trade payables with respect to few parties are subject to confirmation and re-conciliation, if any.

26. Figures for the previous year have been regrouped, rearranged and recast wherever necessary.