a) The net carrying amount of property, plant and equipment, amounting to Rs. 62,659.88 Lakhs (March 31,2021 Rs 53,949.86 Lakhs) are pledged as first charge security to banks providing term loans and second charge to banks providing working capital loans.

b) The Plant and machinery, Building and electrical installation includes an amount of Rs.381.30 Lakhs, Rs. 87.84 Lakhs and Rs. 20.81 Lakhs respectively (March 31,2021 : Rs.53.21 Lakhs, Rs. 21.58 Lakhs and Rs. 2.54 Lakhs) that represent borrowing cost capitalized @ 6.75% during the year. (March 31, 2021 : 6.75%).

c) The Company has not recognised any impairment loss during the current year (March 31, 2021 - Nil).

d) The title deeds of property plant and equiments are held in name of the Company.

a) The net carrying amount of plant and equipment, amounting to Rs 53,949.86 Lakhs (March 31,2020 Rs 53,660.70 Lakhs) are pledged as first charge security to banks providing term loans and second charge to banks providing working capital loans.

b) The Plant and machinery, Building and electrical installation includes an amount of Rs. 53.21 Lakhs, Rs. 21.58 Lakhs and Rs. 2.54 Lakhs respectively (March 31, 2020 : Rs. 343.25 Lakhs, Rs. 130.65 Lakhs and Rs. 9.98 Lakhs respectively) that represent borrowing cost capitalized @ 6.75% during the year. (March 31, 2020 : 8.6%)

c) The Company has not recognised any impairment loss during the current year (March 31, 2020 - Nil).

d) The title deeds of property plant equiments are held in name of the Company.

The aggregate depreciation expense on right-of-use asset is included under depreciation and amortisation expense in the Statement of Profit and Loss.

The Company has not recognised any impairment loss during the current year (31 March, 2021 - Nil).

i) The Company has taken land on lease for a non-cancellable period ranging 3 to 99 years, Building on lease for a tenure ranging from 3-5 years and plant and machinery for 10 years.

The Company leases with contract term of less than 1 year. These leases are short term and/or leases of low value items. The company has elected not to recognise right of use assets and lease liabilities of these assets.

iv) The weighted average incremental borrowing rate of 6.25% (March 31, 2021 9.40% p.a.) has been applied for measuring the lease liability at the date of initial application.

v) The total cash outflow for leases for year ended March 31, 2022 is Rs. 323.15 Lakhs (March 31,2021 Rs. 302.08 Lakhs.)

vi) Income from sub leasing of Right to use assets is Rs. NIL. (March 31, 2021 Rs. NIL)

i) During the year ended March 31,2022 Rs. 33.19 Lakhs (March 31,2021: Rs. 73.36 Lakhs) was recognised as an expense for inventories carried at net realisable value.

ii) The mode of valuation of inventories has been stated in note 2 xv of significant accouting policies.

iii) Bank overdrafts, cash credit and short-term loan from bank facility are secured by first paripassu charge on inventories (including raw material, finished goods and work-in-progress) and book debts (refer note 9 and 14).

Note : Margin money deposit amounting to Rs.85.82 Lakhs (March 31, 2021: Rs 149.97 Lakhs) are pledged with banks for non cash limits and term deposit Rs.204.95 Lakhs (March 31,2021: Rs.194.29 Lakhs) are pledged as cash security with banks for the loans taken by the company and Rs. 161.52 Lakhs (March 31, 2021 Rs. 51.48 Lakhs) other deposits with no lien.

Rights, preferences and restrictions attached to equity shares

The Company has a single class of equity shares. Accordingly, all equity shares rank equally with regards to dividends and share in the company's residual assets. The equity shares 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 of 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. Failure to pay any amount called up on shares may lead to forfeiture of the shares. On winding up 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.

The Company was informed by promoters about the inter-se transaction between the Promoter/ Promoter Group on April 29, 2021, April 30, 2021, May 04, 2021, whereby entire holding of FIH Mauritius Investments Ltd, Mr. Utkarsh Shah, M/s. Jariwala Trade Link LLP and M/s.Nahoosh Trade Link LLP (collectively called as “Sellers”) were acquired by Mr. Mahesh Babani, Mr.D.B. Rao and Promoter group (collectively called as “Acquirers”). FIH Private Investments Ltd Promoter Group Company sold its entire holding of 3,250 equity shares in the market on February 16, 2022. The necessary compliances as required under SEBI (Prohibition of insider Trading) Regulations, 2015 and SEBI (Substantial Acqusition of Shares and Takeovers) Regulations,2011 has been complied with by the Acquirers, Sellers and Company.

12a SHARE CAPITAL (Contd.)

D Aggregate number of shares allotted as fully paid up by way of bonus shares (during 5 years immediately preceding March 31, 2022) :

Equity shares allotted as fully paid up Bonus shares - Nil (March 31,2021 - Nil)

E Shares allotted as fully paid up pursuant to a scheme of arrangement without payment being received in cash (during 5 years immediately preceding March 31,2022):

During financial year ended March 31, 2017 -Equity shares of Rs. 10/- each - 12,634,353 shares.

A General reserve

As per the approved scheme of arrangement (Demerger) between the Privi Organics India Limited, Privi Specialities Chemicals Limited (Formally known as Fairchem Specialty Limited) and Privi Organics Limited during the period ended 31 March 2017, the excess of book value of assets over liabilities is treated as general reserve.

B Retained earnings

Retained earnings represent the amount of accumulated earnings/ (losses) at each Balance Sheet date of the Company, prepared in accordance with the basis of preparation section.

C Capital reserve

As per the approved Scheme ofArrangement and Amalgamation amongst Fairchem Speciality Limited (Demerged / Transferee Company) and Privi Organics India Limited (Transferor Company). vide NCLT Mumbai order dated June 30, 2020, all the assets, liabilities and reserve pursuant to the scheme, have been transferred at carrying amount and the difference if any being the excess is treated as capital reserve.

D The Capital management objective of the Company is to (a) maximize shareholder value and provide benefits to other stakeholders and (b) maintain an optimal capital structure to reduce the cost of capital.

For the purposes of the Company's capital management, capital includes issued equity share capital, share premium and all other equity.

The Company monitors capital using debt-equity ratio, which is total debt less liquid investments and bank deposits divided by total equity.

i) Term loan are secured by a first mortgage on the company's immovable properties both present and future ranking paripassu interest and a first charge by way of hypothecation of all the company's assets (save and except book debts and inventories) including movable machinery (save and except spares tools and accessories) both present and future subject to charges created in favour of the Company's bankers for inventories, book debts and other specified movable assets for securing the borrowings of working capital.

ii) Currency swap on IDFC Rupee loan of Rs.4,000 Lakhs and ICICI bank Rupee loan of Rs.4,000 Lakhs are taken @ 64.42 per USD and @ 68.13 per USD respectively and other currency swap on HDFC Bank Rupee loan of Rs 5,600 Lakhs and Rs 7,400 Lakhs are taken @ 76.78 per USD and @ 75.83 per USD respectively, the currency swap represents derivative instruments which has been restated at the closing rate of exchange.

14 CURRENT BORROWINGS (SECURED) (Contd.)

a) All the above loans are secured by first pari passu charge on all current assets of the Company both present and future.

b) Working capital loans from banks are secured by way of hypothecation of inventories both on hand and in transit and book debts and other receivables both present and future and also secured by way of second charge on fixed assets.Working capital loans carry interest rate @ 4.90% to 5.50%.

c) Quarterly statements of current assets filed by the company with the banks and financial institution are in agreement with the books of accounts.

i) The banks include Kotak Mahindra Bank, HDFC Bank Ltd, CITI bank., RBL Ltd., IDFC bank, ICICI Bank Ltd., Standard Chartered Bank

ii) The returns are based on unaudited financial information in the interim period and are extracted from the books and records of the Company, as adjusted for certain quarterly closing entries, like adjustments in relation to unrealised gain/ (loss) on trade receivables and further adjusted by advances received from customers, exclusion of stores and spares and goods in transit from inventory. the related amounts are mentioned below :

Jun-21 unrealised gain of Rs. (238.35) Lakhs, advance from customers of Rs. (338.00) Lakhs, stores and spares inventory of Rs. 612.00 Lakhs and Goods in transit of Rs. 1819.70 Lakhs not included in quarterly statement submitted to bank.

Sep-21 unrealised gain Rs. (146.03) Lakhs, advance from customers Rs.(1,016.18) Lakhs, stores and spares inventory Rs. 681.70 Lakhs and GIT Rs. 1,638.63 Lakhs not included in quarterly statement submitted to bank.

Dec-21 unrealised gain Rs. (108.98) Lakhs, advance from customers Rs. (320.45) Lakhs stores and spares inventory Rs. 783.40 Lakhs and GIT Rs. 498.72 Lakhs not included in quarterly statement submitted to bank.

Mar-22 unrealised gain Rs. (373.23) Lakhs, advance from customers Rs. (264.56) Lakhs, stores and spares inventory Rs. 597.15 Lakhs and GIT Rs. 902.57 Lakhs not included in quarterly statement submitted to bank.

i) The banks include Kotak Mahindra Bank, HDFC Bank Ltd, CITI bank., RBL Ltd., IDFC bank, ICICI Bank Ltd., Standard Chartered Bank

ii) The returns are based on unaudited financial information in the interim period and are extracted from the books and records of the Company, as adjusted for certain quarterly closing entries, like adjustments in relation to unrealised gain/ (loss) on trade receivables and further adjusted by advances received from customers, exclusion of stores and spares and goods in transit from inventory. the related amounts are mentioned below :

Jun-20 unrealised loss of Rs. 99.24 Lakhs, advance from customers of Rs. (1035.18) Lakhs, stores and spares inventory of Rs. 156.24 Lakhs and Goods in transit of Rs. 95.28 Lakhs not included in quarterly statement submitted to bank.

Sep-20 unrealised loss Rs. 7.86 Lakhs, advance from customers Rs. (170.23) Lakhs, stores and spares inventory Rs. 465.10 Lakhs and GIT Rs. 1,201.75 Lakhs not included in quarterly statement submitted to bank.

Dec-20 unrealised loss Rs. (193.84) Lakhs, advance from customers Rs. (1175.99) Lakhs stores and spares inventory Rs. 180.99 Lakhs and GIT Rs. 39.01 Lakhs not included in quarterly statement submitted to bank.

Mar-21 unrealised gain Rs. 212.53 Lakhs, advance from customers Rs. (199.73) Lakhs, stores and spares inventory Rs. 540.64 Lakhs and GIT Rs. 286.26 Lakhs not included in quarterly statement submitted to bank.

d) Post shipment and packing credit from bank carry interest rate @ 0.70% to 1.50% for USD and packing credit in rupees carry intrest rate @ 5% to 5.50% p.a.

e) Cash credit loan from bank carry interest rate @ 7.00 % to 9.00 %.

f) Buyers credit carry interest rate @ Libor 0.60% to Libor 4% and due for payment within 180 days.

28 SEGMENT INFORMATION

A. Factors used to identify the entity's reportable segments, including the basis of organisation

For management purpose, the Company has determined its reportable segment as “Aromatic chemicals” since the chief operating decision maker (CODM) evaluates the Company's performance as a single segment.

C. Geographic information

The geographic information analyses the Company's revenue and non-current assets by the Company's country of domicile and other countries. In presenting the geographical information, segment revenue has been based on the geographic location of customers and segments assets were based on the geographic location of the respective non-current assets. The product offerings which are part of the speciality chemicals portfolio of the Company are managed on a worldwide basis from India. (refer note 36).

30 EMPLOYEE BENEFITS - POST-EMPLOYMENT BENEFIT PLANS

a) Defined contribution plans

The Company makes contributions, determined as a specified percentage of employee salaries, in respect of qualifying employees towards Provident Fund and ESI which are defined contribution plans. The Company has no obligations other than to make the specified contributions. The contributions are charged to statement of profit and loss as they accrue.

Compensatory absences

The Company provides for the encashment of leave or leave with pay subject to certain rules. The employees are entitled to accumulate leave subject to certain limits, for future encashment. The liability is provided based on the number of days of unutilized leave at each balance sheet date on the basis of an independent actuarial valuation. Amount of Rs 145.46 Lakhs (31 March, 2021 Rs 88.78 Lakhs) has been recognised in the Standalone Statement of profit and loss of provision for long-term employment benefit.

The fair value of financial instruments as referred to in note (a) above have been classified into a three categories depending on the inputs used in the valuation technique.

The categories used are as follows:

Level 1 - Quoted prices (unadjusted) in active markets for identical assets or liabilities.

Level 2 - Inputs other than quoted prices included within Level 1 that are observable for the asset or liability, either directly (i.e. as prices) or indirectly (i.e. derived from prices).

Level 3 - Inputs for the assets or liabilities that are not based on observable market data (unobservable inputs).

31 FINANCIAL INSTRUMENTS (Contd.)

c. Calculation of fair values

The fair values of the financial assets and liabilities are defined as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. Methods and assumptions used to estimate the fair values are consistent with those used for the year ended March 31, 2021.

(i) The fair values of the derivative financial instruments has been determined using valuation techniques with market observable inputs. The models incorporate various inputs including the credit quality of counter-parties and foreign exchange forward rates. In case the forwards are taken from banks and financial institutions, the fair value is determined using quoted forward exchange rates at the reporting date and present value calculations based on high credit quality yield curves in the respective currencies by the bankers.

(ii) The fair values of investments in mutual fund units is based on the net asset value ('NAV') as stated by the issuers of these mutual fund units in the published statements as at Balance Sheet date. NAV represents the price at which the issuer will issue further units of mutual fund and the price at which issuers will redeem such units from the investors.

(iii) Loans, lease liabilities and borrowings have fair values that approximate to their carrying amounts as it is based on the net present value of the anticipated future cash flows using rates currently available for debt on similar terms, credit risk and remaining maturities.

(iv) Cash and cash equivalents, trade receivables, investments in term deposits, other financial assets (except derivative financial instruments), trade payables, and other financial liabilities (except derivative financial instruments) have fair values that approximate to their carrying amounts due to their short-term nature.

32 FINANCIAL RISK MANAGEMENT

The Company's Board of Directors has overall responsibility for the establishment and oversight of the Company's risk management framework.The Board of Directors has established the risk management committee, which is responsible for developing and monitoring the company's risk management policies. The committee reports regularly to the board of Directors on its activities.

The Company's risk management are established to identify and analyse the risks faced by the Company, to set appropriate risk limits and controls and to monitor risks and adherence to limits.Risk management policies and systems are reviewed regularly to reflect changes in market conditions and activities.

The Audit committee oversees how management monitors compliance with the company's risk management policies and procedures and reviews the adequacy of the risk management framework in relation to the risks faced by the Company. The Audit committee is assisted in its oversight role by internal audit by external party.”

The Company has exposure to the following risks arising from the financial instruments:

a. Credit Risk

Credit risk is the risk of financial loss to the Company if a customer or counter-party fails to meet its contractual obligations and arises principally from the Company's receivables from customers.The carrying amount of financial assets represent the maximum credit exposure.

The Company's exposure to credit risk is influenced mainly by the individual characterisitc of each customer.However, management also consider the factors that may influence the credit risk of its customer base. including the default risk associated with the industry and country in which company operates.

The Company analyses credit worthiness of each new customer individually before standard payment and delivery terms are offered.The Company is monitoring economic environment in countires where it operates and is taking actions to limit its exposure to customers in those countries experiencing particular economic volatility.

The Company uses an allowance matrix to measure the expected credit loss of trade receivables.Based on the industry practices and the business environment in which the entity operates, Management considers that the trade receivables are in default (credit impaired) if the payments are more than 365 days past due.

Management believes that the unimpaired amounts that are past due by more than 30 days are still collectible in full, based on historical payment behaviour and extensive analysis of customer credit risk and the current provision for the bad debts represents the impacted credit loss it foresees in its receivables.

Financial assets other than trade receivables are not impaired and further, there are no amounts that are past due. Management believes that the amounts are collectible in full, based on historical payment behavior.

b. Liquidity risk

Liquidity risk is the risk that the Company will encounter difficulty in meeting the obligations associated with its financial liabilities that are settled by delivering cash or another financial asset. The Company's approach to managing liquidity is to ensure, as far as possible, that it will have sufficient liquidity to meet its liabilities when they are due, under both normal and stressed conditions, without incurring unacceptable losses or risking damage to the Company's reputation.

The Company maintains the level of its cash and cash equivalents at an amount in excess of expected cash outflow on financial liabilities.The Company also monitors the level of expected cash inflows on trade and other receivables together with expected cash inflows on trade and other payables

The gross inflows/(outflows) disclosed in the above table represent the contractual undiscounted cash flows relating to derivative financial liabilities held for risk management purposes and which are not usually closed out before contractual maturity. The disclosure shows net cash flow amounts for derivatives that are net cash-settled and gross cash inflow and outflow amounts for derivatives that have simultaneous gross cash settlement.

Currency Risk

The Company is exposed to currency risk on account of its borrowings and other payables in foreign currency. The functional currency of the Company is Indian Rupee. The Company uses forward exchange contracts to hedge its currency risk, most with a maturity of less than one year from the reporting date.

Currency exposure for borrowings is exclusive of Currency swap on IDFC Rupee loan of Rs.4,000 Lakhs and ICICI bank Rupee loan of Rs.4,000 Lakhs are taken @64.42 per USD and @68.13 per USD respectively and other currency swap on HDFC Bank Rupee loan of Rs 5,600 Lakhs and Rs 7,400 Lakhs are taken @ 76.78 per USD and @ 75.83 per USD respectively which are classified as Indian currency loan.

The Company's corporate treasury function provides services to the business, co-ordinates access to domestic financial markets, monitors and manages the financial risk relating to the operation of the Company through internal risk reports which analyse exposures by degree and magnitude of risks. These risks include market risk (including currency risk, interest rate risk and other price risk), credit risk and liquidity risk.

The use of financial derivatives is governed by the Company's policies approved by the board of directors, which provide written principles on foreign exchange risk, interest rate risk, credit risk,

The Corporate treasury function reports quarterly to the Company's risk management committee, an independent body that monitors risks and policies implemented to mitigate risk exposures.

d. Sensitivity analysis

A reasonably possible strengthening (weakening) of the foreign currencies against INR at March 31, 2022 would have affected the measurement of financial instruments denominated in US dollars and affected equity and profit or loss by the amounts shown below. This analysis assumes that all other variables, in particular interest rates, remain constant and ignores any impact of forecast sales and purchases.

* Demand of Rs. 15.52 Lakhs (out of which Rs. 6.00 Lakhs paid) raised by Customs, Excise and Service Tax Appellate Tribunal West Zonal Bench, Mumbai for clearance of imported goods under DEPB scheme. (Contravention of the provisions of Section 111 (o) of the Customs Act, 1962). Further the demand of Rs. 101.53 Lakhs was raised by Customs authority out of which Rs. 10.98 Lakhs is paid under protest, balance Rs. 90.54 Lakhs are unpaid as on March 31, 2022.

The claims against the Company comprise of pending litigations / proceedings pertaining to demands raised by Excise, Custom, Sales / VAT tax and other authorities / bodies. The Company has reviewed all its pending litigations and proceedings and has adequately provided for where provisions are required and disclosed as contingent liabilities where applicable, in its financial statements. The Company does not expect the outcome of these proceedings to have a materially adverse effect on its financial statements.

It is not practicable for the Company to estimate the timings of cash outflows, if any, in respect of the above pending resolution of the respective proceedings as it is determinable only on receipt of judgements/decisions pending with various forums/authorities.

The Company does not expect any reimbursements in respect of the above contingent liabilities.

36 REVENUE FROM CONTRACTS WITH CUSTOMERS

(A) The Company is primarily in the business of manufacture and sale of Aroma chemicals. All sales are made at a point in time and revenue recognised upon satisfaction of the performance obligations which is typically upon dispatch/ delivery. The Company has a credit evaluation policy based on which the credit limits for the trade receivables are established, the Company does not give significant credit period resulting in no significant financing component.

(E) Unsatisfied Performance Obligations

The Company applies the practical expedient in Paragraph 121 of Ind AS 115 and does not disclose information about remaining performance obligations.

38 TRANSFER PRICING

Transactions with related parties are governed by transfer pricing regulations of the Indian Income-tax Act, 1961. The Company's international and domestic transactions with related parties are at arm's length as per the independent accountants report for the year ended March 31,2021. Management believes that the Company's international and domestic transactions with related parties post March 2021 continue to be at arm's length and that the transfer pricing legislation will not have any impact on the financial statements, particularly on the amount of tax expense and that of provision for taxation.

39 EXCEPTIONAL ITEMS

a) Flood claim settlement (Net)

Unprecedented rainfall on July 22 and 23, 2021 in Raigad district of Maharashtra including Mahad and consequent overflow of Savitri river caused flooding and major power outage in and around Mahad. The factory operations at the units were temporarily suspended. The necessary steps were taken to resume the operations in phased manner from August 12, 2021 after taking into consideration the safety norms. There has been loss to assets comprising of Inventories, Plant & Machineries and Other fixed assets, etc. The profitability has also been impacted due to loss of sales. All the said losses are adequately insured including coverage towards loss of profit and replacement cost of fixed assets.

As per Management's best estimate, the book value of the assets lost due to flood including other expenses for the year ended March 31, 2022 is Rs. 1,791.28 Lakhs which is debited to the statement of profit and loss and is disclosed as an exceptional item and netted off with final insurance claim settlement aggregating to Rs. 2,320.51 Lakhs for which a settlement letter is also issued by insurance company resulting in an exceptional gain(net) of Rs. 529.24 Lakhs for the year ended March 31,2022. The Company has received partial insurance claim of Rs. 1,000 Lakhs from the insurance company which is recognised in the quarter ended September 30, 2021. The balance amount of Rs.1,320.51 Lakhs (of which Rs. 300 Lakhs is received subsequent to the balance sheet date) is shown as receivable from insurance company in balance sheet as at March 31,2022. The entire insurance claim settlement amount is being recognised in the statement of profit and loss as per the requirement of Accounting Standards.

b) Fire Claim settlement (net)

On April 26, 2018 a major fire broke out at the Company's Unit 2 Plant located at MIDC Mahad, Maharashtra. There was loss of the assets comprising of Inventories, Buildings, Plant and Machinery and other Fixed Assets, etc. which were adequately insured including coverage towards loss of profit and replacement cost of fixed assets. The Company received Rs.2,309.26 Lakhs and Rs.4,000 Lakhs during the year ended March 31,2021 and March 31,2020 respectively on account of Insurance claim which has been disclosed as an exceptional item. The entire Insurance Claim is now settled with the Insurance company, however, an amount of Rs. 809.26 Lakhs (Out of Rs. 2,309.26 Lakhs) accounted for in the year ended March 31, 2021 is

39 EXCEPTIONAL ITEMS (Contd.)

received on April 07,2021 subsequent to the year ended March 31, 2021. Since the final insurance claim is settled and a settlement letter is also issued by Insurance company on or before March 31, 2021 therefore this balance amount of Rs. 809.26 Lakhs as above mentioned was recognised as an exceptional Income in statement of standalone profit and loss for the year ended March 31,2021 and shown as receivable from insurance Company in Balance sheet as on March 31,2021 as per requirement of the Accounting Standards.

40 ESTIMATION OF UNCERTAINTIES RELATED TO GLOBAL HEALTH PANDEMIC FROM COVID-19

Government of India announced a Nationwide Lockdown due to COVID-19 Global Pandemic due to which the Compnay shutdown few of its plants at Mahad & Jhagadia factories (except those involved in manufacture of chemicals used in essential goods) from March 24,2020 which continued till April 7, 2020. Although sales were partially affected during the period of shutdown, however, impact is not significant. The Company had not seen any significant impact on net realisable value of its current assets.

The Global pandemic COVID-19 continued in the year 2021-22 as well. The business of the Compnay was not affected during the year. However, the completion of major capex project were delayed by 4 to 5 months due to second wave of COVID-19 during the period March 2021 to July 2021, on account of non-availability of labour, transport facilities, industrial oxygen, etc. Further, given the uncertainty due to COVID-19, the Company would continue to monitor any material changes to future economic conditions and the consequential impact on the standalone financial statements.

41 OTHER STATUTORY INFORMATION

a) Specified Bank Note: The disclosures regarding details of specified bank notes during the period from 8 November 2016 to 30 December 2016 have not been made in these financial statements since the requirement does not pertain to the financial year ended 31 March 2022.

b) Other informations

(i) As on March 31, 2022 there is no Unutilised amounts in respect of any issue of securities and long term borrowings from banks and financial institutions. The borrowed funds have been utilised for the specific purpose for which the funds were raised.

(ii) The Company do not have any transactions with struck off companies.

(iii) The Company do not have any charges or satisfaction, which is yet to be registered with Registrar of Companies beyond the statutory period.

(iv) The Company is in compliance with the number of layers prescribed under clause (87) of section 2 of the Companies Act read with the Companies (Restriction on number of Layers) Rules, 2017.

(v) The Company do not have any Benami property, where any proceeding has been initiated or pending against the Company for holding any Benami property.

(vi) The Company have not traded or invested in Crypto currency or Virtual Currency during the financial year.

(vii) The Company have 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:

(a) 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

(b) provide any guarantee, security or the like to or on behalf of the Ultimate Beneficiaries

41 OTHER STATUTORY INFORMATION (Contd.)

(viii) The Company have 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:

(a) 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

(b) provide any guarantee, security or the like on behalf of the Ultimate Beneficiaries

(ix) The Company have not entered in any such transaction which is not recorded in the books of accounts that has been surrendered or disclosed as income during the year in the tax assessments under the Income Tax Act, 1961 (such as, search or survey or any other relevant provisions of the Income Tax Act, 1961)

c) Regroupings: Appropriate regroupings have been made in the standalone Balance sheet and standalone Statement of Profit and Loss (including Other Comprehensive Income), wherever required, by reclassification of the corresponding items if income, expenses, assets and liabilities, in order to bring them in line with the accounting policies and classification as per the standalone Ind AS financial information of the Company for the year ended March 31, 2022, prepared in accordance with Revised Schedule III of the Companies Act, 2013, requirements of Ind AS 1- 'Presentation of financial statements' and other applicable Ind AS principles. The Company has adopted the Revised Schedule III as issued by MCA and accordingly numbers of comparative period has been reclassed as required. As a result of amendment to Schedule III, deposits have been reclassified to other financial assets which was earlier forming part of loans and current maturities of long-term borrowing are now presented as current borrowings which was earlier forming part of other financial liabilities.

The Indian Parliament has approved the Code on Social Security, 2020 which would impact the contributions by the company towards Provident Fund and Gratuity. The Ministry of Labour and Employment has released draft rules for the Code on Social Security, 2020 on November 13, 2020, and has invited suggestions from stakeholders which are under active consideration by the Ministry. The Company will assess the impact and its valuation once the subject rules are notified and will give appropriate impact in its standalone financial statements in the period in which, the Code becomes effective and the related rules to determine the financial impact are published.