e. IND AS 37 - Provisions, Contingent Liabilities and Contingent Asset :
The Company has made provision for all known liabilities. No provisions for
Contingent Liabilities and Contingent Asset provided during the year.
f. IND AS 40 - Investment Property
Investment properties are properties (land or building, or part of a building, or both)
held to earn rentals or for capital appreciation or both, rather than for use in the
production or supply of goods or services or for administrative purposes, or sale in the
ordinary course of business.
Recognition - Investment property is recognized as an asset when it is probable that
the future economic benefits associated with the property will flow to the company,
and the cost of the property can be measured reliably.
Measurement at Recognition - Investment properties are initially measured at cost,
including transaction costs. The cost includes the purchase price and any directly
attributable expenditure, such as legal fees, property transfer taxes, and other
transaction costs. If the property is acquired in a business combination or through an
exchange, the cost is measured in accordance with Ind AS 103, Business
Combinations, or Ind AS 116, Leases (for right-of-use assets held as investment
property), as applicable.
g. IND AS 108 - operating Segments.
The Company has only one segment and hence no separate segment reporting required .
Signature to Notes 1 forming part of Balance sheet & Profit & Loss Account for the year
ended 31st March 2025
The accompanying notes form an integral part of the standalone financial statements
H. RAJEN & CO. For and on behalf of Board
Chartered Accountants
Firm Registration No.: 108351W Mr. Erramilli Venkatachalam Sri Venkata Rajeswara Rao
Prasad Samavedam
Managing Director Director
(DIN: 08171117) (DIN: 10347786)
Rajendra Desai
Partner Place: Hyderabad Place: Hyderabad
Membership No. 011307 Date: 25th June 2025 Date: 25th June 2025
Place: Mumbai
Sachin H Singh Rawat
Date: 25th June 2025 Company Secretary
UDIN : 25011307BMJFNV5332 Membership No: A74233
Place: Mumbai
Date: 25th June 2025
Note 22: Additional notes forming part of Balance sheet & Profit & Loss :
During the year, shareholders approved in the EGM dated 4th March 2025, Acquisition
through swap of equity shares of M/s. Crochet Industries Pvt. Ltd. with equity shares of
the Company in the ratio of 1:1.136, pursuant to valuation by an Independent Registered
Valuer. The swap will significantly increase the equity base and impact the EPS.
1. Investments
During the year company has made investment in following companies by acquiring its
equity shares as follows:
*During the year, payment of Rs.97,00,009/- made from part consideration of Rs.
1,00,00,000 (Rupees One Crore only) for the proposed acquisition of its entire equity
shareholding, together with the land owned by the Supreme Lush Breweries Private
Limited, as per the terms and conditions under discussion and negotiations.
2. Deferred Tax Provision: No Deferred tax is recognized on books of accounts.
3. Deferred/Pre Revenue Expenses:
The Company is in line with its' business model & philosophy, to have own
manufacturing facilities, for acquisitions (immediate revenue generation units) to
have substantial production capacities, further scaling up of production capacities
& business revenues, incurred pre-revenue expenses which are considered as 'pre¬
revenue expenses' and will be amortized against such revenue generations.
4. Expense in Foreign Currency:-
Travelling Expense incurred in USD 3000 (Rs. 252,900) towards purchase of
currency for travel to Uzbekistan. It is transferred to Deferred Revenue expenses.
5. Inventory:
The Company has Inventory valued at Rs. 32,775/- at cost or Market Value
(whichever is lower) as on 31st March, 2025. The inventory has been physically
verified by the management.
7. Loans and Advances :
a. During the year Company has made investment in land at Kerala by paying
an advance of Rs. 2.7 lakhs against total consideration of Rs. 43,02,000 subject
to clearance from local authority, the registration formalities shall be
completed.
b. The company has paid and Advance of Rs. 51.40 lakhs to M/ s KHS Machinery
Pvt Ltd against booking of Bottling Machine in Sept, 2024. However, we are
unable to verify contract executed by the management with respect to its
delivery, installation and other terms of contract including final project costs.
However, the nature of business of company is Marketing of Brew of its
subsidiaries the advance towards purchase of machinery need to be justified
by the management.
c. The Company has paid Rs.47.19 lakhs (Euro 50,000) to Steinecker GMBH
towards patented Steinecker Poseidon Technology and related crab free¬
negative yeast for alcohol free beer (produced with Halal yeast) to any
competitor in the UAE for the period of 48 months from November 26, 2024.
The Management will amortised this cost in 4 years from the next financial
year as Patented cost.
8. Cash Balance:
Cash confirmation received from the management.
9. Balance Confirmations:
Loans & Advances receivable/ payables (Debit/ Credits), Other Balances of Sundry
Debtors, Creditors, Loans and Advances (Assets / Liabilities) are subject to
confirmation and reconciliation.
10. Duties and Taxes
a. The Company has paid demand pending with income tax department and
settled dues of old management amounting of Rs. 35.80 Lacs in the month of
October, 2024. However, The TDS amounts of Rs. 6,88,324/- for AY 2007-08
and Rs. 14,13,765/- for AY 2008-09 were not considered by the Income Tax
Department while assessing the intimation under Section 143(1). This has
resulted in interest and penalties being levied. Hence the refund is due but the
same was not considered as the matter is pending with the department.
b. Company is delayed in payment of its Statutory Liabilities like TDS.
Management is expecting to clear these liabilities as soon as possible. (Refer
detailed note in Clause vii para 3 of CARO 2020).
12. Loans (Written Off/ Back):
In cases where there are no balance confirmations for receivable/payables
(Debit/Credits) during the handover by the old Management to the New
Management, the same has been treated in books of Accounts accordingly, Such
written off/written back net resultant amount of Rs. 30,57678/-.
13. Provisions: The provision of all known liabilities is adequate and not in excess of
the amount reasonably necessary.
16. Corporate Social Responsibility:
As per Section 135 of Companies Act, 2013 provisions regarding CSR are not
applicable to the company.
17. Going Concern :
Although the capital has been completely eroded by carry forward book losses,
the management is of the opinion that these losses are temporary in nature and it
will be recovered in due course of time, hence the Company has prepared the
financial statements on the basis that it will continue to operate as a going concern.
21. Other Statutory Information
a. Details of Benami Property held
The Company do not have any Benami property where any proceedings have been
initiated or pending against the Company.
b. Registration of charges or satisfaction with Registrar of Companies
The Company do not have any charge hence no satisfaction of charge is required
to be filed with ROC.
c. Compliance with number of layers of companies
The Company do not have any layers of Company's which requires compliances
w.r.t. provision related to number of layers as prescribed under section 2(87) of
the Companies Act read with Companies (Restriction on number of Layers)
Rules, 2017.
d. Others
i. The Company have not traded or invested in Crypto currency or Virtual currency
during the financial year.
ii. 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:
iii. 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 to or on behalf of the Ultimate
Beneficiaries.
iv. 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:
v. 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
vi. provide any guarantee, security or the like on behalf of the Ultimate Beneficiaries
vii. The Company have not entered 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).
viii. The Company has not entered into any scheme of arrangement which has an
accounting impact on the current or previous financial year.
ix. The Company is not a declared willful defaulter by any bank or financial
institution or other lender.
x. The figures of previous period/year have been re-grouped / re-arranged and / or
recast wherever found necessary.
xi. The aforesaid Financial Result are being disseminated on the website of the
Company.
Signature to Notes 2 to 22 forming part of Balance sheet & Profit & Loss Account for
the year ended 31st March 2025
The accompanying notes form an integral part of the standalone financial statements
H. RAJEN & CO. For and on behalf of Board
Chartered Accountants
Firm Registration No.: 108351W Mr. Erramilli Venkatachalam Sri Venkata Rajeswara Rao
Prasad Samavedam
Managing Director Director
(DIN: 08171117) (DIN: 10347786)
Rajendra Desai
Partner Place: Hyderabad Place: Hyderabad
Membership No. 011307 Date: 25th June 2025 Date: 25th June 2025
Place: Mumbai
Sachin H Singh Rawat
Date: 25th June 2025 Company Secretary
UDIN : 25011307BMJFNV5332 Membership No: A74233
Place: Mumbai
Date: 25th June 2025
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