Disputed liabilities and claims against the company including claims raised by fiscal authorities
pending in appealfor which no reliable estimate can be made and or involves uncertainty of
the outcome of the amount of theobligation or which have remote chance for crystallisation are
not provided for in accounts but disclosed by way of notes to the accounts.
However, present obligation as a result of past event with possibility of outflow of resources, when
reliable estimationcan be made of the amount of obligation, is recognized in accounts in terms of
discounted value, if the time value of money is material using a current pre-tax rate that reflects the
risk specific to the liability.
Contingent assets, if any, are not recognised in the accounts but are disclosed by way of notes to the
accounts.
1.12 Foreign currency
Functional currency and presentation currency
The functional currency of the company is the Indian rupee. The financial statements are presented
in Indian rupees (rounded off to lakhs).
Transactions and translations
Foreign currency denominated monetary assets and liabilities are translated into the relevant
functional currency at exchange rates in effect at the balance sheet date. The gains or losses resulting
from such translations are included in the Statement of Profit and Loss. Non-monetary assets and
non-monetary liabilities denominated in a foreign currencyand measured at fair value are translated
at the exchange rate prevalent at the date when the fair value was determined.Non-monetary assets
and non-monetary liabilities denominated in a foreign currency and measured at historical cost are
translated at the exchange rate prevalent at the date of the transaction.
Transaction gains or losses realised upon settlement of foreign currency transactions are included
in determining net profit for the period in which the transaction is settled. Revenue, expense and
cashflow items denominated in foreigncurrencies are translated into the functional currency using
the exchange rate prevailing on the date of the transaction.
1.13 Earnings per equity share
Basic earnings per equity share is computed by dividing the profit for the year attributable to the
equity holders of thecompany by the weighted average number of equity shares outstanding during
the period. Diluted earnings per equity share is computed by dividing the net profit attributable to
the equity holders of the company by the weighted average number of equity shares considered for
deriving basic earnings per equity share and also the weighted average numberof equity shares that
could have been issued upon conversion of all dilutive potential equity shares. The dilutive potential
equity shares are adjusted for the proceeds receivable had the equity shares been actually issued
at fair value (i.e. the average market value of the outstanding equity shares). Dilutive potential equity
shares are deemed converted as of thebeginning of the period, unless issued at a later date. Dilutive
potential equity shares are determined independently foreach period presented.
The number of equity shares and potentially dilutive equity shares are adjusted retrospectively for all
periods presentedfor any share splits and bonus shares issues including for changes effected prior to
the approval of the financial statementsby the Board of Directors.
1.14 Income tax and Deferred Tax
Income tax expense comprises current and deferred income tax. Income tax expense is recognized
in the statement of profit and loss except to the extent that it relates to items recognised directly
in equity, in which case it is recognized inother comprehensive income. Income tax for current and
prior periods is recognised at the amount using the tax rates as per the tax laws that have been
enacted. Deferred income tax assets and liabilities are recognised for all temporary differences
arising between the tax bases of assets and liabilities and their carrying amounts in the financial
statements.Deferred tax assets are reviewed at each reporting date and are reduced to the extent
that it is no longer probable thatthe related tax benefit will be realised.
Deferred income tax assets and liabilities are measured using tax rates and tax laws that have been
enacted or substantively enacted by the balance sheet date and are expected to apply to taxable
income in the years in which those temporary differences are expected to be recovered or settled.
The effect of changes in tax rates on deferred income tax assets and liabilities is recognised as
income or expense in the period that includes the enactment or the substantive enactment date. A
deferred income tax asset is recognized to the extent that it is probable that future taxable profit will be
availableagainst which the deductible temporary differences and tax losses can be utilized.
The company offsets current tax assets and current tax liabilities, where it has a legally enforceable
right to set off the recognized amounts and where it intends either to settle on a net basis, or to
realize the asset and settle the liability simultaneously. The income tax provision for the interim period
is made based on the best estimate of the annual averagetax rate expected to be applicable for the
full financial year.
1.15 Employee benefits
A. Short-term employee benefits
All employee benefits payable wholly within twelve months of rendering the service are classified as
short term employee benefits and they are recognised in the period in which the employee renders the
related service. The Company recognizesthe undiscounted amount of short term employee benefits
expected to be paid in exchange for services rendered as a liability (accrued expense) after deducting
any amount already paid.
B. Post-employment benefits
(a) Defined contribution plans
Defined contribution plans are Provident Fund Scheme and Employees' State Insurance Scheme
administered by the Government for all eligible employees. The Company's contributions to
defined contribution plans are recognised in the Statement of Profit and Loss in the financial
year to which they relate.
(b) Defined benefit gratuity plan
A Group Gratuity Trust under the name “KSE Employee's Group Gratuity Fund Trust" has been
formed, which manages the funds transferred to the Trust by the Company for meeting its
gratuity liability estimated by actuarial valuation and the payment of gratuity on retirement
of the employees of the Company. The Trust has taken Policies under the Employee's
Group Gratuity-cum-Life Assurance Scheme of the Life Insurance Corporation of India.
The net present value of the obligation for gratuity benefits as determined on independent
actuarial valuation, conducted annually using the projected unit credit method, as adjusted for
unrecognised past services cost, if any, and as reduced by the fair value of plan assets, is
recognised in the accounts of the Company.
All expenses represented by current service cost, past service cost, if any, and net interest
on the defined benefit liability/ (asset) are recognized in the Statement of Profit and Loss.
Remeasurements of the net defined benefit liability / (asset) comprising actuarial gains
and losses and the return on the plan assets (excluding amounts included in net interest on
the net defined benefit liability/asset), are recognized in Other Comprehensive Income. Such
remeasurements are not reclassified to the Statement of Profit and Loss in the subsequent
periods.
Gratuity in respect of whole-time directors, if any, is provided for on gross undiscounted basis
and charged toStatement of Profit and Loss.
C. Other long term employee benefits
The company has a scheme for compensated absences for eligible employees. The company
makes contributions to the Scheme of the Life Insurance Corporation of India. The net present
value of the obligation for compensated absences as determined on independent actuarial
valuation, conducted annually using the projected unit credit method and as reduced by the fair
value of plan assets, is recognised in the accounts. Actuarial gains and losses are recognised in
fullin the Statement of Profit and Loss for the period in which they occur.
1.16 Cash Flow Statement
Cash flows are reported using the indirect method, whereby profit for the period is adjusted for the
effects of transactions of a non-cash nature, any deferrals or accruals of past or future operating
cash receipts or payments and item of income or expenses associated with investing or financing
cash flows. The cash flows of the Company are segregated into operating, investing and financing
activities.
1.17 Dividends
Final dividends on shares are recorded as a liability on the date of approval by the shareholders and
interim dividends are recorded as a liability on the date of declaration by the Company's Board of
Directors.
1.18 Leases
Leases under which the company assumes substantially all the risks and rewards of ownership are
classified as financeleases. When acquired, such assets are capitalized at fair value or present value
of the minimum lease payments at theinception of the lease, whichever is lower. Lease payments
under operating leases are recognized as an expense on a straight-line basis in the Statement of
Profit and Loss over the lease term.
1.19 Borrowing Cost
Borrowing costs directly attributable to the acquisition, construction or production of qualifying assets,
which are assets that necessarily take a substantial period of time to get ready for their intended use or
sale, are added to the cost of those assets, until such time as the assets are substantially ready for
their intended use or sale.
All other borrowing costs are recognised in the statement of profit and loss in the period in which they
are incurred.
1.20 Inventories
Inventories as at the close of the year are valued at lower of cost or net realisable value. However,
materials and otheritems held for use in production of inventories are not written down below cost if
the finished goods in which they will be incorporated are expected to be sold at or above cost. The
comparison of cost and net realizable value is made on an item-by item basis. Cost of inventory
comprises all costs of purchase, duties, taxes (other than those subsequently recoverable from
tax authorities) and all other costs incurred in bringing the inventory to their present location and
condition, determined on the following methods:
(a) Raw materials - First In First Out (FIFO)
(b) Packing materials - First In First Out (FIFO)
(c) Stores & spares and consumables:
i. Furnace Oil, Diesel and Boiler Fuel - First In First Out (FIFO)
ii. Others - At weighted average cost
Cost of finished goods includes the cost of raw materials, packing materials, an appropriate share of
fixed and variable production overheads, ineligible tax credits as applicable and other costs incurred
in bringing the inventoriesto their present location and condition. Fixed production overheads are
allocated on the basis of normal capacity of production facilities.
1.21 Operating Segments
The Company's reportable segments (business segments) have been identified as (a) Animal Feed
Division (b) Oil Cake Processing Division, which includes vegetable oil refining also and (c) Dairy
Division comprising milk and milk productsincluding ice cream. There are no reportable geographical
segments. Segment revenue, segment results, segment assets and segment liabilities include the
respective amounts identifiable to each of the segments as also amounts allocated ona reasonable
estimate. The Operating segments have been identified on the basis of the nature of products/
services.
Segment revenue includes sales and other income directly identifiable with the segment including
inter-segment revenue. Expenses that are directly identifiable with the segments are considered
for determining the segment results. Expenses which relate to the Company as a whole and not
allocable to segments are included under unallocable expenditure. Income which relates to the
Company as a whole and not allocable to segments is included in unallocableincome. Segment result
includes margins on inter-segment sales which are reduced in arriving at the profit beforetax of
the Company. Segment assets and liabilities include those directly identifiable with the respective
segments. Unallocable assets and liabilities represent the assets and liabilities that relate to the
Company as a whole and not allocable to any segment.
1.22 Government Subsidy/ Grant
Government Grant is recognized only when there is a reasonable assurance that the entity will comply
with the conditionsattaching to them and the grants will be received.
a) Subsidy related to assets is recognized as deferred income which is recognized in the statement of
profit & losson systematic basis over the useful life of the assets.
Purchase of assets and receipts of related grants are separately disclosed in statement of
cash flow.
b) Grants related to income are treated as other income in statement of profit and loss subject to due
disclosure about the nature of grant.
IB. Disclosure of Significant Judgement under Ind AS 1
Classification of Long-Term Leasehold Land
The Company has entered into lease arrangements for land with lease terms extending up to 99 years
with upfront premium paid and nominal annual lease rent. Based on the evaluation of the terms of the
lease agreement, control over the asset, and substance over legal form, management has assessed
that such lease arrangements confer rights similar to ownership.
Accordingly, the leasehold land is classified under Property, Plant and Equipment (PPE) and not
recognised as a Right-of-Use Asset under Ind AS 116. This represents a significant accounting
judgement in the preparation of these financial statements
Note 17.4: Pursuant to the approval of the shareholders at the 61st Annual General Meeting held on September
20, 2025, the equity shares of the Company having a face value of Rs.10 each were subdivided into 10
(Ten) equity shares having a face value of Rs.1 each. The sub-division became effective from October 28, 2025.
Accordingly, earnings per share (EPS) for the previous year has been restated to give effect to the share sub¬
division.
Note 17.5: The company amended corresponding Clause V of the Memorandum of Association to reflect the
revised share capital after giving effect to sub division mentioned above. However, the Company inadvertently
omitted to carry out the corresponding amendment to the relevant capital clause contained in the existing
Articles of Association. Consequently, the Articles of Association continued to reflect the pre-sub-division share
capital, resulting in a technical non-compliance. To regularize the matter, the Company has included appropriate
resolutions in the Notice convening the 62nd Annual General Meeting of the Company for the consequential
36.1 Fair Value Measurement
Fair value of the financial instruments is classified in various fair value hierarchies based on the following
three levels:Level 1: Quoted prices (unadjusted) in active market for identical assets or liabilities.
Level 2: Inputs other than quoted price included within level 1 that are observable for the asset or liability,
eitherdirectly or indirectly.
Level 3: Inputs for the assets or liabilities that are not based on observable market data (unobservable
inputs).
The fair value of trade receivables, trade payables and other Current financial assets and liabilities is
considered to be equalto the carrying amounts of these items due to their short-term nature.
There were no transfers between Level 1 and Level 2 during the year.
Fair value hierarchy of financial instruments measured at fair value on a recurring basis is as follows:
Financial Risk Management - Objectives and Policies
The Company has a well-managed risk management framework, anchored to policies and procedures and
internal financial controls aimed at ensuring early identification, evaluation and management of key financial
risks (such as liquidity risk, market risk, credit risk and foreign currency risk) that may arise as a consequence
of its business operations as well as its investing and financing activities.
Accordingly, the Company's risk management framework has the objective of ensuring that such risks are
managed within acceptable risk parameters in a disciplined and consistent manner and in compliance with
applicable regulation.
1) Liquidity Risk
Liquidity risk is the risk that the Company will encounter due to difficulty in raising funds to meet commitments
associatedwith financial instruments that are settled by delivering cash or another financial asset. Liquidity
risk may result from aninability to sell a financial asset quickly at close to its fair value.
The company has sound financial strength represented by its aggregate current assets including current
investments as against aggregate current liabilities and its strong equity base. In such circumstances,
liquidity risk is insignificant.
2) Market Risk
As the Company's overall debt is less compared to its equity, the exposure to interest rate risk from
the perspective of Financial Liabilities is negligible. Further, treasury activities, focused on managing
investments in debt instruments, are administered under a set of approved policies and procedures guided
by the tenets of liquidity, safety and returns. This ensures that investments are only made within acceptable
risk parameters after due evaluation. The Company's investmentsare predominantly held in fixed deposits
and debt mutual funds. Fixed deposits are held with highly rated banks and have a short tenure and are not
subject to interest rate volatility. The Company also invests in mutual fund under schemes of leading fund
houses. Such investments are susceptible to market price risk that arise mainly from changes in interest
ratewhich may impact the return and value of such investments. However, given the relatively short tenure
of underlying portfolio of most of the mutual fund schemes in which the Company has invested, such price
risk is not significant.
3) Credit Risk
Credit risk refers to risk that a counterparty will default on its contractual obligations resulting in financial
loss to the Company. Credit risk arises primarily from financial assets such as trade receivables, investment
in mutual funds, derivativefinancial instruments, other balances with banks and other receivables.
The Company has adopted a policy of only dealing with counterparties that have sufficiently high credit rating.
The Company's exposure and credit ratings of its counterparties are continuously monitored and the
aggregate value of transactions is reasonably spread amongst the counterparties. Credit risk arising from
investment in mutual funds, derivative financial instruments and other balances with banks is limited
because the counterparties are banks and recognized financial institutions with high credit ratings.
For trade receivables, as a practical expedient, the company is accepting advance from customers against
sale of goods. Hence credit risk is negligible.
4) Foreign Currency Risk
The Company undertakes transactions denominated in foreign currency (mainly US Dollar) which are
subject to therisk of exchange rate fluctuations. Financial assets and liabilities denominated in foreign
currency, are also subject to reinstatement risks.
The Company has established risk management policies to hedge the volatility arising from exchange rate
fluctuations in respect of firm commitments and highly probable forecast transactions, through foreign
exchange forward contracts. Theproportion of forecast transactions that are to be hedged is decided based
on the size of the forecast transaction and market conditions. As the counterparty for such transactions are
highly rated banks, the risk of their non-performance is considered to be insignificant.
Capital Management
For the purpose of the Company's capital management, capital includes issued capital and all other equity reserves
attributableto the equity shareholders of the Company. The primary objective of the Company when managing
capital is to safeguardits ability to continue as a going concern and to maintain an optimal capital structure so
as to maximize shareholder value.
The Company's financial strategy aims to support its strategic priorities and provide adequate capital to
its businesses for growth and creation of sustainable stakeholder value. The Company funds its operations
through internal accruals. The Company aims at maintaining a strong capital base largely towards supporting
the future growth of its businesses asa going concern. As at 31st March, 2026, the Company has only one class
of equity shares. The company is not subject to any externally imposed capital requirements.
36.2 Taxation
(i) Reconciliation of income tax expense for the year to accounting profit - based on provisional Income tax
workings, subject to audit under the relevant tax statutes.
(i) Assistant Commissioner of State Tax, SGST Department had raised demand of Rs 2.13 Lakhs for FY 2017-18 on
the premises that Company has availed wrong Input Tax Credit amounting to Rs 0.69 Lakhs (Rs.0.347 Lakhs CGST
Rs.0.347 Lakhs SGsT) vide order dated 22.11.2023. Interest to the tune of Rs 0.75 Lakhs and penalty of Rs 0.69
Lakhs was also demanded in the order. The company has filed appeal against the order on 14.02.2024 and remitted
Rs 6,936 as pre deposit. Since there is no fault on the part of the company, company is confident of receiving
favourable order in this regard.
(ii) Assistant Commissioner (Assessment), Department of Commercial taxes, Thrissur had issued order demanding
Rs.25.40 lakhs (including interest Rs.12.64 lakhs) for the financial year 2000-01 against sales tax exemption
claimed on sale of refined vegetable oil. Although the company received favourable order dated 26-11-2025 from
single bench, the railway has further appealed the order with the Hon. High Court of Kerala against the order of the
single bench.
(iii) Southern Railway had raised two demands aggregating to Rs.57.11 lakhs on grounds of undercharge due to
incorrect classification of de-oiled rice bran. The claim has been challenged by the Company before the Hon.
High Court of Kerala. The Division Bench of the High Court of Kerala issued an order dated 26th November 2025
in favour of KSE Limited in WP(C) No. 33189 of 2007, holding the above demand as unsustainable. Subsequently,
Southern Railway has filed a Writ Appeal (WA No. 84/2026) dated 05th January 2026 before the High Court of
Kerala, Ernakulam which is pending before High Court of Kerala.
(iv) (a) Some of the employees of the company had challenged the enhancement of wage limit for coverage of ESI,
before the Hon. High Court of Kerala and the Court had granted stay. The cases were disposed off by the Court in
favour of ESI Corporation and Company had remitted contributions of employer and employees.
Subsequently, ESI Corporation demanded interest amounting to Rs.1.57 lakhs (Appeal No 46/2009) for delay
in payment of contributions relating to the period when the above stay was in operation Rs.0.19 lakh towards
employees' contribution in respect of retired/resigned employees (Appeal No 5/2011) during the said period.
Company had preferred appeal before the ESI Court, Palakkad which was decided in favour of the Company.
Aggrieved by the order, ESI Corporation had filed appeal before the Hon. High Court of Kerala challenging the orders
of ESI Court, Palakkad, and the said appeal is still pending. ESI Corporation had also demanded damages of Rs.1.14
lakhs for the delay in remittance of contribution mentioned above in appeal no 46/2009 and the Company had filed
an appeal before the ESI Court (Appeal No 58/2010), which is disposed during the year by making a payment of
Rs.1.14 lakhs on 20.02.2026.
(b) ESI Corporation has issued order demanding Rs.1.63 lakhs as interest and Rs.0.60 lakh as damages for delay in re¬
mittance of contribution on omitted wages for the period from 01.04.1996 to 31.03.2002. ESI Court, Thrissur finally
heard the case and set aside the demand and waived the damage demanded and remanded the matter back to the
Corporation for reconsideration. As per the direction of ESI Court, ESI Corporation issued order dated 10.10.2022 with
a revised demand of Rs.1.54 lakhs and the same was remitted. In the meantime, ESI Corporation has filed an appeal
before the High Court of Kerala (Case No IC 112/2010) against the order of the ESI Court, which is still pending and
hence no contingent liability is shown in this regard.
(v) (a) The BSE Limited, wherein the shares of the Company are listed, had issued a demand vide their letter dated
03.02.2020, for a fine of Rs.2.48 lakhs for non-compliance with Regulations 17 (1) and 19 (1) /19 (2) of SEBI (LODR)
Regulations, 2015 dealing with requirements as the composition of the Board including failure to appoint woman
director and for non-compliance with the constitution of the Nomination and Remuneration Committee. It was repre¬
sented to the BSE Limited in writing that the Company is fully compliant with these regulations and the Company had
requested to recall the demand of fine. BSE Limited has waived the demand for the aforementioned non-compliances
for Rs 2.48 Lakh.
In all the above cases company is legally advised that there is a good chance for full relief and hence no provision is con¬
sidered necessary at this stage.
36.4 The exceptional income of Rs 250.75 Lakhs for the year ended 31.03.2025 is net of insurance claim of Rs 251.80
Lakhs received for flood-related damages of raw materials in Tamil Nadu during FY 2023-24 and additional expense
of Rs 1.05 Lakh incurred by the company during the year on account of the materials damaged. The exceptional item
of R.s 409.54 Lakhs for the year ended 31.03.2024 is net of the exceptional loss of Rs. 413.80 Lakhs, pertaining to
the damage of raw materials due to combustion and floods in Tamil Nadu during December 2023 (Rs.409.70 Lakhs
based on provisional assessment) and transit damage (Rs. 4.10 Lakhs) and the exceptional income of Rs. 4.26 Lakhs
on account of receipt of insurance claim received in part against the claim lodged during the financial year 2021- 22.
36.5 Balance with Government Authorities under Note 16 includes Goods and Service Tax (GST) which in the opinion of the
management is either refundable or eligible for set off against future GST liabilities.
36.6 Certain items of income and expenses have been netted off while reporting and expenses are stated net of recoveries;
sale of freezer and contribution received from dealers towards calendar and diaries are netted against Advertisement
and Sales promotion, Lay time incentive received in foreign currency is netted against respective purchase account.
Cost of tea supplied collected from employees is netted against Staff welfare expenses, bank charges recovered is
netted against bank charges paid.
36.7 Stores and spares consumed include cost of materials used for repairs and maintenance.
36.8 In the opinion of the Board, current assets and long-term loans & advances have the value at which they are stated in
the Balance Sheet, if realised in the ordinary course of business.
36.9 The company has a system of periodically obtaining and reconciling confirmations of balances with banks, suppliers
and customers.
36.10 Acid buff imported by the Company under CTH 23099020 at NIL rate was assessed by the Customs Department at
5% IGST. Accordingly, the company has paid Rs 46.81 Lakhs under protest and filed writ petition before the Hon.
High Court of Kerala. The matter is disposed in favour of the company. Steps are being taken to secure refund of the
amounts paid under protest.
36.11 Company has paid Rs 2.59 Lakh to BSE on 18.11.2025 relating to other fines for which provision was made earlier.
Note on key actuarial risks
(a) Actuarial Risk - the risks that benefits costs more than expected. All assumptions used to project the liability cash¬
flows are source of risk, if actual experience turns out to be worse than expected experience - there could be a risk
of being unable to meet the liabilities as and when they fall due. E.g. If assumed salary growth rates turns out
to be lesser than reality - this could cause a risk that the provisions are inadequate in comparison to the actual
benefits required to be paid.
(b) Investment Risk - There is a minimum investment return guaranteed to the Sponsor (called the minimum floor rate)
which isa non-zero positive percentage. Hence there is no market risk - risk due to reductions in the market value
of the underlying investments backing the insurance policy of the Sponsor. Also there is a Guaranteed Surrender
Value to the extent of 90% of contributions made net of withdrawals and charges.
(c) Liquidity Risk - The investments are made in an insurance policy which is also very liquid - withdrawals can
happen at any time. There is no Market Value adjustment imposed for withdrawals done by the Sponsor at an
untoward time except when the amount withdrawn exceeds 25% of the opening balance at the beginning of the
financial year. This can be easily managed by making multiple withdrawals to ensure that the amount withdrawn
per transaction does not breach the limit above. Also note that there are no surrender charges after three years.
During the first three years also the surrendercharges are minimal.
(d) Legislative Risk -There could be changes to Regulation/legislation governing this Plan that could affect the
Company adversely (e.g. introduction of a minimum benefit). The changes in regulation could potentially
increase the plan liabilities.
Notes:
1. The above disclosures are based on information certified by the independent actuary and relied upon by the
Company.
2. The plan assets of the Company are managed by the Life Insurance Corporation of India in terms of insurance
policies taken to fund the obligations of the Company with respect to its Gratuity and Compensated Absences
Plan. Informationon categories of plan assets is not available with the Company.
36.27 Capital Work-in-Progress under ‘Plant and Equipment' as at the previous year-end, inter alia, included expenditure
incurred towards the construction of molasses tanks at the Irinjalakuda Unit, Kerala, and the installation of
an Automatic Batching System at the Swaminathapuram Unit, Tamil Nadu. These assets were completed and
capitalised during the current year.
The previous year's balance under ‘Buildings' included expenditure incurred towards the construction of a new
godown at the Irinjalakuda Unit, Kerala. The current year's balance comprises the additional expenditure incurred on
the said project during the year
36.28 Other information
(a) The Company has not traded or invested in crypto currency or virtual currency during the year.
(b) The Company has not been declared wilful defaulter by any bank or financial institution or other lender or
government
or any government authority.
(c) The Company does not have any benami property held in its name. No proceedings have been initiated on or are
pending against the Company for holding benami property under the Benami Transactions (Prohibition) Act,
1988 (45 of 1988) and Rules made thereunder.
(d) The Company does not have any holding or subsidiary company.
(e) The Company does not have any transactions with companies struck off.
(f) The Company does not have any charges or satisfaction which is yet to be registered with ROC (Registrar of
Companies)
beyond the statutory period.
(g) The Company has not received any fund from any person(s) or entity(ies), including foreign entities (Funding
Party) with the understanding (whether recorded in writing or otherwise) that the Company shall directly or
indirectly lend orinvest in other persons or entities identified in any manner whatsoever by or on behalf of the
Funding Party (Ultimate Beneficiaries) or provide any guarantee, security or the like on behalf of the Ultimate
Beneficiaries.
(h) The Company has not advanced or loaned or invested funds to any other person(s) or entity(ies), including foreign
entities (Intermediaries) with the understanding that the Intermediary shall directly or indirectly lend or invest
in other persons or entities identified in any manner whatsoever by or on behalf of the company (Ultimate
Beneficiaries) or provide anyguarantee, security or the like to or on behalf of the Ultimate Beneficiaries.
(i) The Company has not surrendered or disclosed any transaction, previously unrecorded in the books of account,
in the tax assessments under the Income Tax Act, 1961 as income during the year.
36.29 Figures of the previous year have been regrouped and recast wherever necessary to suit the current year's layout.
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