Amrapali Industries Limited (,The Company') was incorporated on 10-05-1988 vide Certificate of Incorporation No. L91110GJ1988PLC010674 under the Companies Act, 1956. The Company is engaged in the business of different types of activities like entertainment activities, bullion trading, share trading, etc.

II. OTHER NOTES FORMING PART OF THE ACCOUNTS

1. RELATED PARTY TRANSACTIONS

As per accounting Standard 18, the disclosures of transactions with the related parties are given below:-

2. EARNINGS PER SHARE

The Company reports basic and diluted earnings per share (EPS) in accordance with the Accounting Standard 20 prescribed under The Companies (Accounting Standards) Rules, 2006 (as amended). The Basic EPS has been computed by dividing the income available to equity shareholders by the weighted average number of equity shares outstanding during the accounting year. The Diluted EPS has been computed using the weighted average number of equity shares and dilutive potential equity shares outstanding at the end of the year.

3. Reporting under Micro, Small and Medium Enterprise Development Act, 2006

The Company has not received information from vendors regarding their status under the Micro, Small & Medium Enterprise Development Act, 2006 and hence disclosure relating to the amount unpaid at the year-end together with the interest paid / payable under this Act has not been given.

4. Estimated amount of contracts remaining to be executed on capital account and not provided for : - NIL

5. The search proceedings u/s.132 of the Income-tax Act, 1961 has been carried out by the Income-tax Authority at the business premises of the company AmrapaliIndustries Ltd. on 26/10/2012. In pursuance of the search proceedings, the company has filed application before the Hon'ble Settlement Commission, Mumbai. Wherein the company has disclosed net additional income of Rs. 11,58,98,063/- for the F.Y.2006- 07 to 2013-14 relevant to A.Y.2007-08 to 2014-15. During the year the Hon'ble Settlement Commission has passed an Order u/s.245D(1) of the Act dated 21/11/2014 admitting the application of the company and the Hon'ble Settlement Commission has also passed an Order u/s.245D(2C) of the Act dated 9/1/2015 considering the application of the company as valid. The company has paid Income-tax with interest on the net additional income offered before the Hon'ble Settlement Commission for an amount of Rs.6,81,25,000/-. The necessary accounting entries have been passed in the books of accounts. The net additional income offered before the Hon'ble Settlement Commission has been shown under the head "Reserves & Surplus" for an amount of Rs. 11,58,98,063/-. The taxes with interest paid Rs. 6,81,25,000/- on net additional income offered before the Hon'ble Settlement Commission, has been shown under the head "Long Term Loan & Advances". The final hearing and order of the company of Hon'ble Settlement Commission u/s.245D(4) of the Income-tax Act, 1961 is pending.