(c) Terms/rights attached to equity shares

(i) The Company has only one class of equity shares having a par value of Rs.10/- per share. Each holder of Equity share is entitled to one vote per share. The company declares and pays dividend in Indian rupees. A final dividend of Rs.0.5/- per share of Rs.10/- each (previous year Rs.2/- per share of Rs.10/- each) has been recommended by the board subject to the approval of shareholders in the Annual General Meeting.

(ii) In the event of liquidation of the Company ,the holders of equity share will be entitled to receive remaining assets of the Company after distribution of all preferential amounts. The distribution will be in proportion to the number of equity shares held by the shareholders.

I The Company has been sanctioned term loans from Syndicate Bank as under :-

a Term loan of Rs.14,00,00,000/- for the purpose of setting of new machineries, buildings etc. for production of crumb rubber mainly for their own consumption.

b Term loan of Rs.24,00,00,000/- for the expansion/capital expenditure programme at Panipat, Wada, Gummidipundi and Kala-Amb divisions of the Company. As on the date of balance sheet, the bank has disbursed a sum of Rs.21,03,24,771/- out of the sanctioned amount.

II Primary security

The term loans are secured by way of first charge on the plant and machinery, furniture fixture, generator, office equipment and computers and work in progress at Panipat, Wada, Haldia and Chennai (Gummidipundi) and Kala-Amb plants of the Company and Unregistered equitable mortgage (UREM) of land and building at Wada and Chennai (Gummidipundi) and Kala-amb plants of the Company.

Collateral securities

The term loan is further secured by way of equitable mortgage of land and building at:

i) Land and Building located at Refinery Road, Village Rajapur, Tehsil and District Panipat- 132103

ii) Land and Building located at Tirlokpur Road, Village Rampur Jattan, Industrial Estate ,Kala-Amb, Nahan District Sirmour (H.P)

iii) Farm House at No.6, Sultanpur, Mandi Road, Mehrauli, New Delhi- 110030.

iv) Land and Building located at Village Pali,Taluka Wada,District-Thane,Maharashtra

v) Land and Building located at No.17 Chithur Natham Village , Gummidipundi Taluk, Thiruvallur Dist, Tamilnadu

Other Properties

i) Plant and Machinery ,Furniture and Fixture, Generator, Office Equipment, Computers and Work In Progress.

ii) Negative lien on the property in Delhi at Khasara No.-1020,1031& 1069, 1070, 1072 & 1072/1, Village Satbari Tehsil Saket , New Delhi.

III Terms of Repayments:

a) The term loan of Rs. 14,00,00,000/- :- Outstanding Balance as on 31/03/2016 repayable in 18 equal monthly installment including interest Rs. 33,07,558/- and one installment of Rs. 65,97,773/-

V There is no continuing default in the repayment of loan as on the date of the balance sheet.

The Company has availed buyer's credit facility for purchase of capital goods amounting to Rs.7,94,54,808/- (previous year Rs.2,76,56,918/-) as on the date of balance sheet which is a sub limit facility to Term loan referred to above. Therefore the securities furnished are the same as mentioned for Term loans above. The buyer's credit facility is due for payment after 6 months from the date of availment with a rollover permissible for another six months and so on up to a maximum period of 3 years, subject to consent of the bankers. The Company has already disclosed its intent to avail the facility for 3 years and adequately represented to the bankers. The nature of this facility has therefore been treated as Long-term borrowings. The Company has also availed a buyer's credit for purchase of raw materials having an outstanding balance of Rs. 2,71,97,469/- (previous year Rs 2,82,14,292/-) as on the date of balance sheet, which has been shown under Short-term borrowings since the Company intends to settle it on the due date i.e. within six months.

D) Unsecured Loans

I a) The Company has been sanctioned an unsecured loan of Rs.5,00,00,000/- by India Bulls Housing Finance Limited for its business needs. The Company has not furnished any security. However, property at Chin Min Farms 448-451, Satbari, Mehrauli, New Delhi-110074 belonging to M/s Chin Min Developers Private Limited, an associate Company has been charged against the said loan.

b) The Company has been sanctioned an unsecured loan of Rs.9,63,97,809/- by India Bulls Housing Finance Limited for its business needs. The Company has not furnished any security. However, property at Chin Min Farms 448-451, Satbari, Mehrauli, New Delhi-110074 belonging to M/s Chin Min Developers Private Limited, an associate Company has been charged against the said loan.

II Terms of Repayment

a) Term Loan Rs.5,00,00,000/-

The loan is repayable in 17 monthly installments of Rs.7,68,834/- and 103 monthly installments of Rs.7,48,942/- including interest commencing from 5th November 2014.

b) Term Loan Rs.9,63,97,809/-

The loan is repayable in 180 monthly installments of Rs.12,19,666/- including interest commencing from 5th April 2016

IV There is no continuing default in the repayment of loan as on the date of the balance sheet.

1 The Company has availed working capital limits of Rs.18 crores (previous year Rs.18 crores) from Syndicate Bank which is secured by hypothecation of stocks and book debts of the Company. The working capital limit is further secured by collateral securities as mentioned under term loan from Syndicate Bank. (Refer point 5(A) above).

2 Unsecured loans from related parties and companies are repayable on demand. Repayment of interest has been made as per stipulations, which varies from 9% to 19% per Annum

3 The balances in working capital limit from bank are within the sanctioned limits plus Ten percent(10%) adhoc limits within the powers of the bank.

4 Buyer's credit facility under letter of undertaking issued by the companies banker to the other bank on behalf of the Company.

5 There are no Continuing default in the repayment of loans as on the date of the balance sheet

a) Information as required to be furnished as per section 22 of the Micro, Small and Medium Enterprises Development Act, 2006 (MSMED Act) for the year ended 31st March 2016 is given below. This information has been determined to the extent such parties have been identified on the basis of information available with the Company.

b) The Information in respect of the party determined under the MSMED Act 2006 , has been identified on the basis of information available with the Company.

c) The total dues of Micro and Small Enterprises which were outstanding for more than stipulated period were at Rs.20,16,581/- (previous year Rs26,33,225/-) as on the balance sheet date.

d) No provision for interest payable in terms of Section 16 of the MSMED Act has been made.

a) Interest accrued but not due on borrowings includes interest payable to a director Rs.3,56,208/- (previous year Rs. 2,15,275/-)

b) Investor Education and Protection Fund is being credited by the amount of unclaimed dividend after seven years from the due date. There is no amounts required to be transferred to Investor Education and Protection Fund as on the date of Balance sheet.

c) Employees benefit expenses include payable to directors Rs.10,24,600/- (Previous year Rs.9,88,225/-)

d) The Company has made a provision of excise duty payable amounting to Rs.1,26,36,059/- (Previous Year Rs.72,32,323/-) on stocks of finished goods and Rs.32,57,451/- for raw material lost due to fire, except goods exempt from payment of excise duty. Excise duty is considered as an element of cost at the time of manufacturing of goods.

e) Other Statutory dues are in respect of TDS, TCS, PF, ESI, WCT and Professional tax payable.

f) Other Liabilities are in respect of expenses payable, staff imprest, advances from customers and deposit against C-forms. Other liabilities includes due to :-

a) Provisions are recognized for Leave encashment, Gratuity, Income Tax, Wealth Tax, Proposed dividend and Corporate dividend tax. The Provisions are recognized on the basis of past events and probable settlements of the present obligations as a result of the past events, in accordance with Accounting Standard- 29 issued by the Institute of Chartered Accountants of India.

b) Provision for dividend (Proposed)

The Board of Directors have recommended a final dividend of Rs.0.5/-(Previous year Rs.2/-) per equity share Rs.10/-each. The payment of final dividend is subject to the approval of the shareholders in the ensuing Annual General Meeting of the Company.

Long term Trade Receivable include Claim Receivable of Rs. 2,75,44,112/- from Food Corporation of India Limited (F.C.I) and Project and Equipment Corporation of India Limited (P.E.C) for which the Company has filed suits for recovery before the Hon'ble High Court of Delhi. However, as per order of Company Law Board dated 9th June, 2009, if any amount is received, the amount to the extent of 50% will be paid to separated group. A provision of Rs.137,72,056/- has been made as per CLB order. . In respect of claim of Rs.87,12,200/- the Hon'ble High Court has ordered against the Company vide order dated 28th May, 2016. The Company plans to file an appeal before the Hon'ble Supreme Court of India in due course. No provisions are considered necessary in accounts since the Company expects to recover the amount.

Based on the opinion of the legal advisors, the Company does not expect any liability, hence no provision has been made.

Besides the above various show cause notices have been received from Excise/Service tax department which have not been treated as contingent liabilities, since the Company has adequately represented to the concerned authorities.

iii) The Company has given surety bond for Rs. 1,00,000/- under Haryana VAT Act, 2003 and CST Act, 1956 in favour of Fratelli Wines Private Limited, an associate company.

v) The Company had set up a plant at Panipat, Haryana on land measuring 34 kanals, 8 marlas. The land was notified as a part of Industrial area by Haryana State Industrial and Infrastructural Development Corporation Limited (HSIIDC) in the year 2006-07. In terms of applicable Government laws, the company filed an objection with the authority and land measuring 20 kanals and 12 marlas was released by HSIIDC which continues to be in possession of the company till date. However, HSIIDC has erroneously served a demand of Rs. 3,73,26,794/- for allotment of above land. The company has filed a writ petition in the High Court of Punjab and Haryana against demand served by HSIIDC and release and restoration of entire land.

vi) The Company is under obligation to export goods within the period of 6 years from the date of issue of EPCG licenses issued in terms of Chapter 5 of the Foreign Trade Policy 2015-20 (Re: 2013). As on date of Balance Sheet, the Company is under obligation to export goods worth Rs.9,33,19,135 (previous year Rs. 5,69,13,534/-) within the stipulated time as specified in the respective licenses. Till the year end Company has fulfilled export obligation Rs. 157,33,943/-.

6. OTHERS NOTES ON ACCOUNTS

1 a) In the opinion of the Board, assets other than fixed assets and non-current investments have a value on realization in the ordinary course of business at least equal to the amount at which they are stated.

b) Balance of trade payables, other current liabilities, long and short term advances, other non-current and current assets and trade receivables are subject to reconciliation and confirmations.

7 The company has submitted application to Bombay Stock Exchange on 15th January, 2016 under Regulation 37(1) of SEBI (Listing Obligation & Disclosure Requirements) Regulations 2015 for the Composite Scheme of Arrangement between Tinna Rubber And Infrastructure Limited(TRIL) and Tinna Trade Limited (TTL)(formerly known as Tinna Trade Private Limited). Presently TTL is wholly owned (100%) subsidiary of TRIL. After approval of the Scheme of Arrangement, Agro Commodity Trading and Investments (Agro Commodity & Warehousing) undertakings shall be transferred to TTL and shareholders of TRIL will be issued equity shares of TTL in the ratio of 1:1. The Bombay Stock Exchange has given no objection to the Scheme of Arrangement of the Company vide letter no. DCS/AMAL/AC/398/2016-17 dated 24th May, 2016. The Company is in process to file first motion application to the Hon’ble High Court of Delhi for directions to convene the meetings of the members and creditors.

8 Depreciation

a) During the year 2015-16, depreciation on Plant and machinery and Electrical Fittings located at Crumb Rubber, Steel Wire and Cut Wire Shots manufacturing units has been provided considering the revised useful life as 12 years based on technical re-assessment conducted by the company as against earlier estimated useful life of 8 years. Depreciation for the year 2015-16 would have been higher by Rs. 1,32,60,664/- and consequently profit would have been lower had the useful life continued to be 8 years.

b) The Company has adopted component accounting as required under Schedule II of Companies Act, 2013 and AS 10 (Revised), from 1st April, 2015. The company has identified and determined cost of each component/part of the asset separately, if the component/part has a cost which is significant to the total cost of the asset and has useful life that is materially different from that of the remaining asset. However, no such component has been identified which is significant to the respective asset and has a useful life different from that of the remaining asset.

Hence, there is no impact on Statement of Profit and Loss and on Retained Earnings due to such change in policy.

9 Disclosures pursuant to Accounting Standard 15, 'Employee Benefits' (specified under section 133 of the Companies Act, 2013, read with Rule 7 of Companies (Accounts) Rules, 2014) are given below :

Defined Benefit Plan (A) Gratuity (Unfunded)

The present value of obligation is determined based on actuarial valuation using the Projected Unit Credit Method, which recognizes each period of services as giving rise to additional unit of employee benefit entitlement and measures each unit separately to build up the final obligation.

Notes:-

a) The estimates of rate is escalation in salary’s considered in actuarial valuation and other factors such as inflation seniority, promotion and other relevant factors including supply and demand in the employment market have been taken into account. The above information is certified by the actuary.

b) The Company's gratuity plan is unfunded. Therefore the information with respect to plan assets is not furnished.

Notes:-

a) The estimates of rate is escalation in salary’s considered in actuarial valuation and other factors such as inflation seniority, promotion and other relevant factors including supply and demand in the employment market have been taken into account. The above information is certified by the actuary.

b) Since the liability is not funded ,thereby information with regard to the plan assets has not been furnished.

10 Interest and other borrowing costs amounting to Rs.1,16,70,704/- (previous year Rs. 80,79,632/-) have been capitalized to the carrying cost of fixed assets being financing costs directly attributable to the acquisition, construction or installation of the concerned qualifying assets till the date of its commercial use, in accordance with Accounting Standard 16 "Borrowing Costs" (specified under section 133 of the Companies Act, 2013, read with Rule 7 of Companies (Accounts) Rules, 2014).

11 Segment Information:

The segment reporting of the Company has been prepared in accordance with Accounting Standard-17, "Segment Reporting" ( specified under section 133 of the Companies Act, 2013, read with Rule 7 of Companies (Accounts) Rules, 2014 ).

Segment Reporting Policies

a) Identification of Segments:

Primary- Business Segment

The Company has identified two reportable segments on the basis of the nature of products, the risk and return profile of individual business and the internal business reporting systems. The Company is primarily operating in India which is considered as a single geographical segment. The products included in each of the reported business segments are as follows:

(i) Crumb Rubber, Crumb Rubber Modifier, Modified Bitumen & Bitumen Emulsion and Allied Products

(ii) Agro Commodity Trading and Investments (Agro Commodity and Warehousing)

Secondary- Geographical Segment

The analysis of geographical segment revenue is based on geographical location of the customers and segment assets on the basis of location of asset.

b) Revenue and expenses have been identified to a segment on the basis of relationship to operating activities of the segment. Revenue and expenses which relate to enterprise as a whole and are not allocable to a segment on reasonable basis have been disclosed as "Unallocated".

c) Segment assets and segment liabilities represent assets and liabilities in respective segments. Investments, tax related assets, borrowings and other assets and liabilities that can not be allocated to a segment on reasonable basis have been disclosed as "Unallocated".

12 Corporate Social Responsibility

As per provisions of section 135 of the Companies Act, 2013, the Company has to incur at least 2% of average net profits of the preceding three financial years towards Corporate Social Responsibility ("CSR"). Accordingly, a CSR committee has been formed for carrying out CSR activities as per the Schedule VII of the Companies Act, 2013. The Company has contributed a sum of Rs.46,700/- (previous year Rs.NIL). In view of Guidance Note on Accounting for Expenditure on Corporate Social Responsibility Activities, issued by the Institute Of Chartered Accountant Of India, no provision for the amount Rs.9,72,832/- which is not spent i.e. any shortfall in the amount that was expected to be spent as per the provisions of the Act on CSR activities and the amount actually spent at the end of a reporting period, may be made in the financial statements.

13 There was a fire at Company's two factory unit situated at Dighasipur, Mouza , Purba Medinipur(Haldia)(West Bengal) being plot nos 2693, 2694, 2696, 2697 and 2705 connected with NH-41 on 19/04/2015 and at Village Pali Taluka, Wada (Distt. Thane) (Maharashtra) being plot no 113/2 ,114/2 & 115 on 11/06/2015. Part of Inventory of Raw material , Finished Goods, Stock in process, Plant and Machinery, accessories, Building, Furniture and other factory equipment were damaged in the fire. The company has lodged insurance claim with the insurance company after providing for the salvage value for the above damage. The company has incurred an expenditure of Rs. 8,46,69,365-towards loss and restoration of assets and inventory and a sum of Rs. 1,00,00,000/- had been received from the Insurance company till the date of Balance Sheet on the said account. The company has shown the balance of Rs. 7,03,43,736/- (after providing the estimated loss on recovery of Rs. 43,25,629/-) as Insurance Claim Receivable under other current assets. The said claim has been recognized in accordance with the Accounting Standard - 9 'Revenue Recognition' (specified under section 133 of the Companies Act, 2013, read with Rule 7 of Companies (Accounts) Rules, 2014, since the company expects to recover the said amount and there exists no uncertainty with respect to collection of the same.

14 The Company has invested a sum of Rs.11,00,750/- in Keerthi International Agro Private Limited towards 11,000 equity shares of Rs.100/- each holding 29% stake in the investee company. The Company by itself or through its Directors does not have any significant influence over the controls and affairs of the investee Company. Therefore the said investee company has not been treated as Associates in terms ofAS-23 Accounting for Investment in Associates in Consolidated Financial Statements (specified under section 133 of the Companies Act, 2013, read with Rule 7 of Companies (Accounts) Rules, 2014

15 The Company has recognized MAT credit as an asset on the basis of the consideration of prudence. The same has been shown under the head "Long term Loans and Advances" since there being a convincing, evidence of realization of the asset in the specified period. Accordingly the Company has recognized MAT credit entitlement amounting to Rs. 5,09,28,852/- as on the date of Balance Sheet. A sum of Rs. 64,23,458/- has been recognized net of utilization Rs. 2,61,529/- against the MAT credit entitlement during the current year.

16 The Company has entered into an agreement on 25.02.2010 with Riveria Builder Private Limited and Viki Housing Development Private Limited for sale of 89,993 equity shares of Rs. 100/- each of Gautam Overseas Limited for Rs.90,00,000. The Company has received the sales consideration of Rs. 90,00,000/- in the F.Y 2009-10 which has been duly accounted for. The Company Law Board has vide order dated 28.06.2010 restrained the Company for transfer of said shares, which has been upheld by the Hon'ble High Court of Delhi. The Company has filed a Special Leave Petition (SLP) before the Hon'ble Supreme Court of India.

17 The Company has entered into an Agreement for Higher Education /Training with Mr Aditya Brij Sekhri(Trainee). The company has sponsored higher education of Trainee at USA for five years vide the agreement dated 1st July 2015 with object to have modern system and practice of management . The agreement provides working of minimum 5 years by the Trainee in company after completion of higher education.

18 The Company has paid under protest, countervailing duty (CVD) of Rs.2,64,80,175/- (Previous year Rs 151,58,373) on import of old used tyres scrap for manufacturing of Crumb Rubber. The Company has contested the levy of countervailing duty(CVD) and filed appeal for refund of duty before of Commissioner of appeals (Custom) of various states under which the Jurisdiction lies. The Commissioner Customs (Chennai) and Ghaziabad have rejected the appeal and the company has filed appeals before The Customs, Excise & Service Tax Appellate Tribunal Chennai & Allahabad , The company has also filed Writ Petition with the Hon'ble High Court of Delhi and the matter is under consideration .Pending the final outcome of legal proceedings ,the deposit of CVD Rs.2,64,80,175/- has been treated as deposit under protest under other current assets in the financial statements.

19 The company has purchased land at Delhi to carry on the activities of development of land, construction of houses, apartments etc . In the Master Plan for Delhi -2021(Notified in 2007 and amendments) the said land is notified as residential and eligible for Land Pooling for development of Public, semi public utility in order to accomodate additional population and planned development. The process of mutation of land, the land use conversion from agricultural to other use is yet to be done in accordance with the applicable Laws. The company has filed petition with Hon'ble High Court of Delhi to seek the benefit of Section 24(2) of the Right to Fair compensation and Transparency in Land Acquisition, Rehabilitation and Resettlement Act, 2013 and to declare acquisition proceedings initiated as lapsed. Hon'ble High Court of Delhi in Judgment dated 25 & 26 May 2015 and 9 February 2016 declared that acquisition process initiated deemed to have lapsed . The matter is now pending before Hon'ble Supreme Court of India pursuant to Appeal filed by Delhi Development Authority and Land & Building Authority of NCT of Delhi . In the view of the same it is classified as non- current assets in the financial statements.

20 In accordance with Accounting Standard- 2 8, "Impairment of Assets", (specified under section 133 of the Companies Act, 2013, read with Rule 7 of Companies (Accounts) Rules, 2014), the Company has assessed the potential generation of economic benefits from its business units as on the balance sheet date is of the view that assets employed in continuing business are capable of generating adequate returns over their useful lives in the usual course of business; there is no indication to the contrary and accordingly, the management is of the view that no impairment provision is called for in these accounts.

21 Figures of the previous year have been regrouped /reclassified /rearranged wherever necessary, to make them comparable with current year figures.