1.1 Of the above:

(a) During the year 600,000 Bonus Shares of Rs 100/- each were issued by capitalisation of General Reserve.

(b) During the year each equity share of face value of Rs 100/- each was subdivided into 10 equity shares of Rs 10/- each.

(c) During the year, the company has issued and allotted 54,30,000 equity shares of Rs. 10/- each @ premium of Rs. 35/- per equity share.

1.2 Rights, Preferences and Restrictions attached to Equity Shares

- The company has only one class of equity shares having a par value of ‘ 10/- 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 proposed by the Board of Directors, is subject to the approval of the shareholders in the ensuing Annual General Meeting.

- In the event of liquidation of the company, the equity share holders will be entitled to receive remaining assets of the company after distribution of all preferential amounts, in proportion of their shareholding.

1.3 Aggregate number and class of shares allotted as fully paid up pursuant to contract(s) without payment being received in cash, by way of bonus shares and shares bought back for the period of 5 years immediately preceding the Balance Sheet date:

(a) The Company has not issued any shares pursuant to contract(s) without payment being received in cash.

(b) The Company has issued 6,00,000 bonus shares during financial year 2017-18 by capitalisation of profit.

(c) The Company has not undertaken any buy back of shares.

2.1 Details of Securities and Term of repayment of loan SECURED

1) Term Loan From Banks:

i) Term Loan from Bank includes loan taken from Punjab National Bank. The loan is secured by way of Hypothecation of Plant. Machinery & Equipments etc. of the Company. The loan is further secured by personal guarantee of Mr Atul Mehra. Mr P.N. Mehra and Mr. M. K. Singh Penod of maturity of loan is 5 years and 6 months The loan is repayable in quarterly installments and present rate of interest on loan is Base Rate-1.75%.

ii) Term Loan from Bank includes loan taken from Punjab National Bank The loan is secured by equitable mortgage of Land & Building of the company The loan is further secured by personal guarantee of Mr Atul Mehra. Mr. P.N. Mehra and Mr. M. K Singh Penod of maturity of loan is 5 years and 6 months The loan is repayable m quarterly installments and present rate of interest on loan is Base Rate-1.75%.

iii) Vehicle loan is from HDFC Bank Limited and is secured by hypothecation of Vehicle. Penod of maturity for loan is 3 years. The loan is repayable m monthly installments and present rate of interest on loan is 8.90%.

SECURED

1) Term Loan From Bank:

a) Term Loan from Bank mcludes loan taken from HDFC Bank Limited. Period of matunty of loan is 3 years. The loan is repayable m monthly installments and present rate of interest on loan is 15%.

b) Term Loan from Bank mcludes loan taken from Kotak Mahindra Bank The loan is secured by personal guarantee of Mr. Atul Mehra. Director of the Company and Mrs. Soma Mehra Penod of maturity of loan is 3 years. The loan is repayable m monthly installments and present rate of interest on loan is 16%.

c) Term Loan from Bank includes loan taken from Axis Bank Limited The loan is secured by personal guarantee of Mr. Atul Mehra. Director of the Company Penod of matunty of loan is 3 years The loan is repayable m monthly installments and present rate of interest on loan is 15%.

2) Term Loans From Other Parties:

a) Term Loan from Other Parties includes loan taken from Bajaj Finserv Limited. Penod of maturity of loan is 2 years. The loan is repayable m monthly installments and present rate of interest on loan is 16%.

b) Term Loan from Other Parties includes loan taken from Tata C apital Financial Services Limited. Penod of maturity of loan is 2 years. The loan is repayable m monthly installments and present rate of interest on loan is 16%.

3.1 Cash C iedit Limit from Punjab National Bank:

i) Secured by hypothecation of stocks, book debts, movable assets, fixed assets of the company and equitable mortgage of land of the company.

ii) The said limit is further secured by way of personal guarantee of the directors of the Company.

iii) The cash credit carries interest rate <gj 1.25% p a. above base rate i e 11.50% p.a with monthly rest

3.2 C ash C l edit Limit from Indusind Bank:

i) Secured by pledge of Skimmed Milk Powder & Ghee stored m approved warehouse

ii) The said limit is further secured by way of personal guarantee of the director and other

iii) The cash credit cames interest rate @ 10.35% (6 months MCLR 1%).

3.3 Bill Discounting Limit from Yes Bank

i) Secured by subserv ient charge by hypothecation of all cuuent assets and movable fixed assets of the company.

ii) The said limit is further secured by way of personal guarantee of the director and other

iii) The said limit cames interest rate @ 1.25% p.a. above base rate Le 11.50% p a with monthly rest.

3.4 Fioin Kotak Mahindin Bank

Limit from Kotak Mahindra Bank is against Bill Discounted & is guaranteed by Mr. Atul Mehra. Director of the Company.

4.1 The Company has not received intimation from Suppliers regarding the status under Micro. Small and Medium Enterprises Development Act 2006 and hence disclosure if any relatmg to the amount unpaid at the year period end together with interest payable as required under the said Act has not been given.

5.1 Security Deposit includes security deposit of Rs. 120.00 lakhs given to a company in which Director of the Company is shareholder.

6.1 Term Deposit account with more than 12 months matunty Rs. 11.86.765/18.2 Term Deposit includes deposits of Rs. 11.68.678.55 Pledged against margin money guarantee.

7.1 Secunty Deposit mcludes security deposit of Rs 355.00 lakhs given to Director of the Company (Previous Year 355.00 lacs)

8 Contingent Liabilities and Commitments: Not Provided For In Respect of:

I Contingent Liabilities

The Income Tax Assessment of the Company has been completed up to Assessment Year 2016-17. However, the Company has filed application u/s 154 of Income Tax Act. 1961 for rectification against the Assessment of earlier years. The Company expects to succeed in these proceedings and hence no additional provision is considered necessary.

II Commitment*:

(a) Estimated amount of contracts remaining to be executed on capital account and not provided for Rs. Nil (P.Y. Nil)

(b) Corporate guarantee given by the Company Rs. Nil (P.Y. Nil)

III Long term Loans and Advances includes payments made to U P. State Industrial Development Corporation (UPSIDC) of Rs. 49.26,748/- tow’ards installment of premium interest and other charges on lease hold plot of land allotted. UPSIDC has made demand against dues toward installment of premnmi interest and other charges against these plots. Company has contested these demands and the matter will be settled with UPSIDC on final execution of lease deed and possession of plots. As per latest notices received from UPSIDC there is total demand of Rs. 1.29.92.799/- against these plots.

9 Balance in the accounts of Trade receivables. Advance. Security Deposits and Trade Payables has m some cases not been confirmed by the respective parties and are subject to confirmation by them

10 In the opinion of the bo aid. Current Assets. Loans & Advances have value on realization in the ordinary course of business at least equal to the amount at which they are stated m the Balance Sheet.

11 Figures of Previous year have been regrouped whenever found necessary to make them comparable with that of current year.

12 The required disclosure in Respect of Defined Benefit Scheme (Based on Actuarial Valuation) of Gratuity of Employee benefits as per Accounting Standard 15 is disclosed as per Annexure-III.

13 The Company’ has only one business segment Le. Dairy Products: hence segment reporting as defined in Accounting Standard -17 is not applicable

14 On the basis of review carried out by the management, there was no impairment loss on fixed assets during the year.

15 As per AS-18. the Company’s related parties and transactions writh them are disclosed as per Annexure-IV.

16 During the year ended 31st March 2018. amount utilized for share issue expenses primarily includes payment made towards merchant banker fees, legal counsel fees, brokerage and selling commission registrar to issue, printing and stationery’ expenses, advertisement and marketing expenses, statutory fees to regulator and stock exchange and other incidental expenses towards Initial Public Offering (IPO). Of the total share issue expense, expenses aggregating to Rs. 1.56.10.421/- have been adjusted towards securities premium reserve