1.1.1. There has been no change / movement in the number of outstanding shares as at the beginning and at the end of our reporting period.

1.1.2 The Company has only one class of equity shares having a par value of Rs. 10/- per share. Each holder of equity is entitled to one vote per share. The Company may declare and pay dividends. The dividend, if any proposed by the Board of Directors of the Company is subject to the approval of the shareholders in the ensuing Annual General Meeting. in the event of liquidation of the Company, the holders of equity shares will be entitled to receive remaining assets of the Company, after distribution of all preferential amounts in proportion to the number of equity shares held by Equity Shareholders.

1.1.3 EQUITY SHARES IN THE COMPANY HELD BY EACH SHAREHOLDER HOLDING MORE THAN 5% EQUITY SHARES

2. Contingent Liabilities and Commitments

a) Contingent Liability not provided for in respect of Corporate Guarantee for Rs.27,500,000/- (2017-18 Rs. 27,500,000/-)

b) Contingent Liability not provided for in respect of Bank Guarantee for obtaining Way Bill from West Bengal Commercial Tax Department for Rs.1,340,000/- (2017-18 Rs.1,340,000/-)

c) Estimated amount of contracts (net of advance) remaining to be executed on Capital Account and not provided for -Rs.35,279,394/- (2017-18 Rs.Nil)

3. Land at Bangalore

In response to the Company’s Writ petition against the order of the Assistant Commissioner of forest, Karnataka for vacating the Company’s property in Whitefield which had been acquired from KIADB the single bench of Hon’ble High Court at Karnataka upheld the Company’s contention and held that the land did not belong to the forest department. A review petition has been filed by the forest department with Hon’ble High Court at Karnataka (involving several industries including the Company situated in the same vicinity) and the same is currently pending before the said court.

4. Loans and Advances given to wholly owned subsidiary, Alfred Herbert Limited became Non-performing Assets (NpA), as per prudential guidelines issued by Reserve Bank of India (the guidelines) and provision of Rs. 42 lakhs was made in the previous year in terms of the said guidelines. Even through the performance of the said subsidiary has improved during the year, the said loan remained classified as NpA and provision of Rs. 42 lakhs made in the previous year has been continued in this year.

Further, no interest as a matter of support to the subsidiary and also considering the guidelines has been accrued against the said loan.

5. Disclosure of Employee Benefit Expenses in accordance with the requirements of AS-15 (Revised) :

Gratuity Plan

The company provides for gratuity, a defined benefit plan covering eligible employees. Gratuity fund scheme is administered and controlled by a trust. The projected Unit Credit (pUC) actuarial method has been used to assess the plan’s Liabilities, including those related to death-in-service and incapacity benefits.

The following tables set out the status of the Gratuity plan as required under As 15 (Revised).

Reconciliation of Defined Benefit Obligation and fair Value of Assets over the year ended 31st March 2019.

6. Leave Encashment

According to the prevailing practice of the Company, the employees are allowed to enjoy the leave within the year. No encashment of leave is allowed.

7. There are no reported Micro Enterprises and small Enterprises as defined in the Micro, small and Medium Enterprises Development Act 2006, to whom Company owes dues.

8. In accordance with Accounting standard 22 “Accounting for taxes on Income” (As-22) the company has accounted for deferred taxes during the year.

9. The Company operates mainly in one business segment viz. non-banking financial activities and therefore the Segment Reporting as per the Accounting Standard (AS-17) is not applicable to the Company.

10. Previous year’s figures have been regrouped / rearranged / reclassified wherever necessary, to make it comparable with current year figures.