Note:

1. The land & building being leasehold land, was transferred to the company vide order of Hon'ble High Court of Calcutta d:ated 115/05/79, passed u/s 391(2), 392, 3915 and 394 of the Companies Act 19156, w.e.f.01/07/1977 amalgamating M/s J.K. Steel Industries Ltd. with the company. The original title deeds are held in the name of transferroa company and by virtue of order of Hon'ble High Court, the lease hoid rights now vest with the company.

2. The •floors are part of Eight °loor ground 7 floors Basemunt) building at GK-II, IMasjid Moth, New Delhi. The land was allotted on perpetual lease co M/s Vipps Incha Delhi, t partnership firm having its registered office et 16, Ring Road, Lajpat Nagar, New Delh° °y Delhi Develoihiment Aathoeity vide lease deed dated.06th Feb 1981. The company entered into registered agreement for sale dated 5th Sep 1985 with M/s VIPPS India for constructing the aforesaid multistorey commercial building andto sell the sameto erstwhile M/s J.K. Synthetics Ltd. The entire consideration or purchase price in terms of agreeement dated 5th Sep 1985 including additional purchase price agreed to be paid pursuant to agreement dated 7th Dec 1988 was paid by the company to M/s VIPPS INDIA who handed over and delivered possession of the building to the company. In view of abovethe company is seized of and otherwise sufficiently entitled to the said building having acquired from VIPPS INDIA perpetual rentable and transferable ownership rights thereof.

3. As per the agreement (duly stamped and registered by collector of stamps Mumbai) dated.19th July 1968, Flat No.42, Sarnath, Mumbai, was acquired by the company in a multistoryed building, As per the aforesaid agreement the conveyance deed was to be executed in favor of the co-operative housing society to be formed subsequently for which purpose the company paid R 1/- towards membership fee, R 250/- towards share money and R 250/- towards legal cost. Pursuant to aforesaid New Sarnath Co-operative Housing Society Limited was duly registered under the Maharashtra Co-operative Societies Act, 1969 under no.BOM/WD/HSG/8115dated.29/09/2000 and the company was allotted 5 shares of R 50/- each to which is annexed the right of ownership of the said premises.

Rights, Preferences and restrictions attached to Equity Shares:

The Company has single class of equity shares. Accordingly, all equity shares rank equally with regard to dividend and share in the Company's residual assets. The equity shareholders are entitled to receive dividend as declared from time to time. The voting rights of an equity shareholder on a poll (not on show of hands) are in proportion to its share in the paid- up equity capital of the Company. Voting rights cannot be exercised in respect of shares on which any call or other sums presently payable have not been paid. In the event of liquidation of the Company, the holders of equity shares will be entitled to receive the residual assets of the Company, remaining after distribution of all preferential amounts in proportion to the number of equity shares held.

Related Parties relationship as identified by the company and relied upon by the Auditors.

Following are the transactions with related parties as defined under section 188 of Companies Act, 2023 and Ind AS-24 and were carried out with related parties in the ordinary course of business and on terms equivelent to those that prevails in arm's length transaction.

(iii) The Company has filed an appeal to Commisioner of Customs (Appeals) against the disputed customs demand raised by the customs department of INR 959.40 Lacs. The appeal has been remanded back to the Original Authority vide order dated 24th March 2023 for fresh consideration of facts in view of principles of natural justice.

32 The Financial statements were approved for issue by the Board of Directors on 29th May, 2023.

33 Previous year's figures have been restated/recasted/regrouped wherever necessary to conform to the classification of the year.

34 The business of the associate M/s Nebula 3D Services Private Limited has substantial accumulated losses carried forward from

previous years and has incurred losses during current financial year resulting in erosion of Net worth as at 31st March 2023.

However, the management is having a positive future outlook of the Associate's business as a going concern. Therefore the

management opines that there is no need to impair the value of Investment in Associate.

35 Other Matters

A. Note on Exceptional Items: The Company has during the previous Financial Year 2021-2022 paid Rs. 73,00,000/- (Indian Rupees Seventy Three Lakhs Only) towards the outstanding tax to Rishra Municipality in respect of land parcel situated at Rishra, District Hoogli, West Bengal (in physical possession of the Company) and the same has been recognized as an exceptional item in the statement of Profit and Loss. The Company's petition, disputing the title of the property was admitted by the Hon'ble High Court of Calcutta.

Upon the final hearing of the Appeal on 5th April 2022, the Hon'ble High Court was pleased to direct Jaykay Enterprises Ltd. to agitate all the issues before the NCLT. The High Court has also observed that all issues are open and shall be decided by the Hon'ble NCLT. The Company in view of the directions and observations made by the High Court, shall file an application of disclaimer before NCLT, Delhi for ascertaining its rights and title in respect of the property at Rishra.

B. The company did not enter any transaction with companies struck off under section 24B of the Companies Act, 2013 or section 560 of Companies Act, 1956. There are no outstanding balances (payable to / receivable from) with struck off companies.

C. There are no charges or satisfaction yet to be registered with ROC beyond the statutory period as no loans/guarantees have been taken by the company.

D. The company has complied with number of layers of companies.

E. The company has not entered in any Scheme of Arrangements and no Scheme of Arrangements has been approved by the Competent Authority in terms of section 230 to 237 of the Companies Act 2013.

F. The company did not held any Benami Properties and no proceedings has been initiated or pending against the company for holding any benami property under the Benami Transactions (Prohibition) Act, 1988 (45 of 1988) and rules made thereunder.

G. The company is not declared willful defaulter by any bank or financial institution or any other lender.

H. The company has not traded or invested in Crypto Currency or Virtual Currency during the financial year.

I. Sec.135 of the Companies Act 2013 with respect to CSR applicability, does not apply to the company.

J. No funds have been advanced or loaned or invested (either from borrowed funds or share premium or any other sources or kind of funds) by the Company to or in any other person(s) or entity(ies), including foreign entities (“Intermediaries”), with the understanding, whether recorded in writing or otherwise, 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 any guarantee, security or the like on behalf of the Ultimate Beneficiaries.

K. No funds have been received by the Company from any person(s) or entity(ies), including foreign entities (“Funding Parties”), with the understanding, whether recorded in writing or otherwise, that the Company shall, directly or indirectly, lend or invest 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.

37 Disclosure under Section 45-IA of the RBI Act:

The financial assets of the company comprises 58% appx. of total assets of the company as at 31st March 2023. This is primarily is on account of Fair Valuation of Investments at the reporting date, in compliance with Ind AS-113 on Fair Value Measurement. Further, the income from financial assets is approx 64% of the total income of the company for the year ended 31st March 2023. This is primarily due to profit earned on sale of quoted investments.

Therefore, in view of temporary increase in value of financial assets to comply with Ind AS 113 and non- recurring income from profit on sale of investments, the management is of the opinion that there is no need to register the company under Section 45-IA of the Reserve Bank of India Act, 1934 (2 of 1934).

Note A Return on equity is higher in current year due to increase in Profits After Tax.

Note B Net Capital Turnover ratio has increased during the year due to increase in Revenue from Operations. Note C Net Profit Ratio is higher in current year due to increase in profit on sale of quoted investments.

Note D Return on Capital Employed is higher in current year due to increase in Profits After Tax.

Note E Return on Investment is higher in current year due to increase in profit on sale of quoted investments.