(a) The Company has only one class of equity shares having a par value of ' 10 each. Each holder of equity shares is entitled to one vote per share. In the event of liquidation of the Company, holders of equity shares will be entitled to receive any of the 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.

(b) There is no movement in equity share capital during the current year and previous year.

Rate of Interest and Terms for repayment

Unsecured Loan obtained from Related Party carries nil to 9.85% rate of interest (March 31, 2023 - Nil) and shall be repaid after 3 years Unsecured Loan obtained from Others carries 9% rate of interest (March 31, 2023 - 9%) and shall be repaid after 3 years

Cash credit/export credit from banks, reclassified as other financial liabilities, are secured by way of hypothecation of current assets of the company comprising of raw material, stock in process, finished goods, stores and spares, goods-in-transit, receivables and any other security acceptable on pari-passu basis. It is also secured by equitable mortgage of fixed assets including land and building of the Company on pari-passu basis with other banks and is also guaranteed by the promoter of the Company. The Company’s various credit facilities declared as NPA for which one time settlement is under implementation and as such the amounts of such credit facilities have been reclassified into current liabilities.

30 The Company has settled all the dues of the lenders namely PNB by the way of OTS. The OTS scheme is under implementation and interest due there on has been accounted for. The scheme shall be accounted for at the time of closure of OTS.

Since, the account with various banks have turned NPA in the previous years, the company has not provided interest on the credit facilities subsequent to the accounts having been declared NPA. In case the OTS/ restructuring scheme fails, the Company will have to provide for Interest from the date of accounts becoming non performing asset. Such interest amounts for the year ended 31^st March, 24, Rs. 26.11 crores. This will effect the stated current liabilities & profits for the current year 31^st March, 24, to that extent.

31 Regarding Milk Cess liability to Govt. of Haryana under Haryana Murrah Buffalo and other Milch Animal Breed Act, 2001. The company has filed a Special Leave Petition before the Hon’ble Supreme Court against the decision dated 28^th May, 2010 of Punjab & Haryana High Court regarding levy of Milk Cess under the above act. The SLP was admitted in the Hon’ble Supreme Court and it had granted interim stay in September, 2012. The matter is pending before the Hon’ble Supreme Court. The Govt. of Haryana demand notice is for Rs. 544.31 Crores for Milk Cess along with compounded Interest as on 31^st December, 2023. The company as an abundant caution has provided for the Milk Cess in the accounts as on 31^st March 24, total Milk Cess provision amount is Rs. 20.71 Crore (including Rs. 59.06 Lacs for FY 23-24), out of which Rs. 9.91 Crore has been already deposited (Rs 5.91 Crore was deposited as per Hon’ble Supreme Court’s order and Rs. 4.00 Crore was deposited as per Hon’ble Punjab & Haryana High Court order on 20.12.23).

32 Due to uncertainty mentioned in note no. 30 & 31 above, deferred tax asset has not been recognized due to absence of virtual certainty supported by convincing evidence to the effect that sufficient future taxable income would be available against which deferred tax assets can be realized.

36 OPERATING SEGMENT

The Company is engaged in the business of Milk Products Manufacturing which in context of Indian Accounting Standards - 108 “Operating Segment” issued by the Institute of Chartered Accountants of India is considered as the only Business Segment. Accordingly, the disclosure requirements of Ind AS 108 are not applicable.

37 In the opinion of the Board of Directors, Current Assets, Loan and Advances have value on realization in the ordinary course of business at least equal to the amounts at which they are stated and provision for all known liabilities have been made in accounts.

38 As per the Indian Accounting Standard - 24 issued by the Institute of Chartered Accountants of India “Related Party Disclosure “. In view of this the company has given the following disclosures for the year.

The company has identified the related parties having transactions during the year, as per detail given below.

A) Related Party and their relationship Key management personnel (KMP)

Mr. Krishan Kumar Goyal (Chairman and Managing Director - CMD)

Mr. A.K. Aggarwal (Executive Director)

Mr. Mukesh Sehgal (Chief Financial Officer)

Ms. Shruti Joshi (Company Secretary)

Entities in which directors of the Company are able to exercise control or have significant influence

Mala Builders Private Limited

39 Management’s disclosure in respect to inadmissible Managerial Remuneration

The company has paid Managerial Remuneration amounting to Rs.84,35,595/-, to directors without prior approval from the lenders. The directors undertake that in case the approval is not received, the remuneration so as received by the Directors shall be refunded. The financial Results are affected to that extent.

41 Figures for the previous year have been regrouped/rearranged wherever considered necessary.