9 Reliance Fresh Limited

RELIANCE FRESH LIMITED

Annual Report2009 - 2010

1Reliance Fresh Limited

Directors Report

Dear Members,

Your Directors are pleased to present the Eleventh Annual Reportand the Audited Accounts for the year ended March 31, 2010.

Financial Results:

The financial performance of the Company for the financialyear ended March 31, 2010 is summarized below:

(Rs. in lakh)

2009-2010 2008-2009

Profit/(Loss) before (15,072.19) (29,417.28)Depreciation, Interest and Tax

Less: Interest 8.05 16.78 Depreciation 6,628.73 5,969.81

Profit /(Loss) before Tax (21,708.97) (35,403.87)

Less: Provision forFringe Benefit Tax - 176.07Deferred Tax (8,192.56) (10,649.63)

Profit/ (Loss) after Tax (13,516.41) (24,930.31)

Add: Balance brought (27,676.78) (2,746.47)forward from previous year

Balance carried to (41,193.19) (27,676.78)Balance Sheet

Operational Review:

During the year under the review, the Company has maintainedits robust growth as a 'value retailer' dealing in a variety ofsuperior quality food and non-food products at affordable prices.The Company's 'Reliance Fresh' stores offer wide assortmentof products including private label products which are highlytrusted, catering to the needs of the entire family.

The Company has incurred a loss of Rs. 13,516.41 lakh for thefinancial year ended March 31, 2010. With the optimisation ofresources and further scaling up of retail store operations, theCompany is confident of posting better results in the future.

The Company had applied to the Central Government seekingexemption from presenting the information as per paras 3(i)(a)and 3(ii)(b) of Part II of Schedule VI to the Companies Act,1956. The Company has received Orders no. 46/84/2009-CL-III dated 14.05.2010 and no. 46/74/2010-CL-III dated14.05.2010 of the Ministry of Corporate Affairs, Governmentof India granting the exemption from making the abovedisclosures respectively for the financial years ended on31.03.2009 and 31.03.2010.

Dividend:

Your directors have not recommended any dividend on equityshares for the year under review.

Subsidiary Company:

The audited statements of accounts all the subsidiaries, namelyReliance F&B Services Limited, Retail Concepts & Services(India) Limited, Delight Proteins Limited, Reliance PetroMarketing Limited and LPG Infrastructure (India) Limited,together with the Reports of the Board of Directors and Auditorsfor the year ended 31st March, 2010 are attached as requiredunder Section 212 of the Companies Act, 1956.

Directors:

Shri Gunender Kapur resigned from the office of Director of theCompany with effect from March 31, 2010. The Board wishesto place on record the valuable contribution made by him duringhis tenure as Director of the Company.

Shri Madhavan Ganesan retires by rotation and being eligible,offers himself for re-appointment at the ensuing Annual GeneralMeeting.

Directors' Responsibility Statement:

Pursuant to the requirement under Section 217(2AA) of theCompanies Act, 1956 with respect to Directors' ResponsibilityStatement, it is hereby confirmed that:

(i) in the preparation of the accounts for the year ended March31, 2010, the applicable accounting standards have beenfollowed and there are no material departures from thesame;

(ii) the Directors have selected such accounting policies andapplied them consistently and made judgments andestimates that are reasonable and prudent so as to give atrue and fair view of the state of affairs of the Company atthe end of the financial year and of the loss of the Companyfor the year under review;

(iii) the Directors have taken proper and sufficient care for themaintenance of adequate accounting records in accordancewith the provisions of the Companies Act, 1956 forsafeguarding the assets of the Company and for preventingand detecting fraud and other irregularities;

(iv) the Directors have prepared the accounts for the year endedMarch 31, 2010 on a 'going concern' basis.

2 Reliance Fresh Limited

Auditors:

During the year, Messrs S.R. Batliboi & Co., CharteredAccountants, resigned as joint statutory auditors of theCompany. To fill this vacancy, Messrs S.V. Ghatalia &Associates, Chartered Accountants, were appointed as JointStatutory Auditors of the company.

Messrs Chaturvedi & Shah, Chartered Accountants and Messrs.S. V. Ghatalia & Associates, Chartered Accountants, StatutoryAuditors of the Company, hold office until the conclusion ofthe ensuing Annual General Meeting of the Company and areeligible for re appointment.

The Company has received letters from them to the effect thattheir re-appointment, if made, would be within the prescribedlimits under Section 224(1B) of the Companies Act, 1956 andthat they are not disqualified for such re-appointment withinthe meaning of Section 226 of the Companies Act, 1956.

Particulars of Employees:

As required under the provisions of Section 217(2A) of theCompanies Act, 1956, read with the Companies (Particulars ofEmployees) Rules, 1975, as amended, the names and otherparticulars of the employees are set out in the Annexure to thisReport.

Conservation of Energy, Technology Absorption andForeign Exchange Earnings and Outgo:

The particulars relating to conservation of energy, technologyabsorption and foreign exchange earnings and outgo, required tobe furnished pursuant to Section 217(1)(e) of the CompaniesAct, 1956, read with Companies (Disclosures of Particulars inthe Report of Board of Directors) Rules, 1988, are as under:

i. Part A and B of the Rules, pertaining to conservation ofenergy and technology absorption, are not applicable tothe Company.

ii. Foreign Exchange Earnings and Outgo:

Foreign Exchange Earned - Nil

Foreign Exchange Used - Rs. 1375.77 Lakh

Acknowledgement:

Your Directors would like to express their grateful appreciationfor assistance and cooperation received from Banks, GovernmentAuthorities, Customers, Vendors, Employees and Membersduring the year under review.

For and on behalf of the Board of Directors

Raghu Pillai Madhavan GanesanDirector Director

Place: Mumbai

Date: May 18, 2010


Auditors Report

To the Members ofRELIANCE FRESH LIMITED

We have audited the attached Balance Sheet of RELIANCEFRESH LIMITED (‘the Company’) as at March 31, 2010,the Profit and Loss Account and the Cash Flow Statementfor the year ended on that date annexed thereto. These financialstatements are the responsibility of the Company’s management.Our responsibility is to express an opinion on these financialstatements based on our audit.

1. We have conducted our audit in accordance with the AuditingStandards generally accepted in India. Those standardsrequire that we plan and perform the audit to obtainreasonable assurance about whether the financial statementsare free of material misstatement. An audit includesexamining, on a test basis, evidence supporting the amountsand disclosures in the financial statements. An audit alsoincludes assessing the accounting principles used andsignificant estimates made by the management, as well asevaluating the overall financial statement presentation. Webelieve that our audit provides a reasonable basis for ouropinion.

2. As required by the Companies (Auditor’s Report) Order2003 (as amended) issued by the Central Government ofIndia in terms of sub-section (4A) of section 227 of theCompanies Act, 1956, we enclose in the Annexure astatement on the matters specified in paragraphs 4 and 5of the said Order.

3. Further to our comments in the Annexure referred toabove, we report that:

a) We have obtained all the information and explanations,which to the best of our knowledge and belief werenecessary for the purposes of our audit;

b) In our opinion, proper books of account as requiredby law have been kept by the Company so far asappears from our examination of those books;

c) The Balance Sheet, the Profit and Loss Account andCash Flow Statement dealt with by this report are inagreement with the books of account;

d) In our opinion, the Balance Sheet, Profit and LossAccount and Cash Flow statement dealt with by thisreport comply with the mandatory AccountingStandards referred to in sub-section (3C) of section211 of the Companies Act, 1956;

e) On the basis of written representations received fromthe Directors as on March 31, 2010 and taken onrecord by the Board of Directors, we report that noneof the Directors is disqualified as on March 31, 2010from being appointed as a director in terms of clause(g) of sub-section (1) of section 274 of the CompaniesAct, 1956;

f) In our opinion and to the best of our information andaccording to the explanations given to us, the saidaccounts give the information required by theCompanies Act, 1956, in the manner so required, andpresent a true and fair view in conformity with theaccounting principles generally accepted in India:

(i) in the case of the Balance Sheet, of the state ofaffairs of the Company as at March 31, 2010;

(ii) in the case of the Profit and Loss Account, ofthe loss for the year ended on that date; and

(iii) in the case of the Cash Flow Statement, of thecash flows for the year ended on that date.

For Chaturvedi & Shah For S.V.Ghatalia & AssociatesFirm Registration Number: Firm Registration Number:101720W 103162WChartered Accountants Chartered Accountants

Amit Chaturvedi per Sudhir SoniPartner PartnerMembership No.: 103141 Membership No.: 41870Place: Mumbai Place: MumbaiDate: April 22, 2010 Date: April 22, 2010


Annexure referred to in paragraph 2 of our report of even dateRe: Reliance Fresh Limited ('the Company')

1. a) The Company has maintained proper records showingfull particulars, including quantitative details andsituation of fixed assets.

b) Fixed assets have been physically verified by themanagement in a phased periodical manner as perregular programme of verification, which in our opinionis reasonable, having regard to the size of the Companyand nature of its assets. No material discrepancieswere noticed on such physical verification.

c) There are no substantial disposals of fixed assets duringthe year.

2. In respect of its inventories:

a) The inventory has been physically verified during theyear by the management. In our opinion, the frequencyof verification is reasonable.

b) The procedures of physical verification of inventoriesfollowed by the management are reasonable andadequate in relation to the size of the Company andthe nature of its business.

c) The Company has maintained proper records ofinventory. As explained to us, there were no materialdiscrepancies noticed on physical verification ofinventory.

3. The Company has neither granted nor taken any loan,secured or unsecured to/from companies, firms and otherparties covered in the Register maintained under Section301 of the Companies Act, 1956. Therefore, the provisionsof clause (iii) (b), (c), (d), (f), (g) of the Companies(Auditor’s Report) Order 2003, (as amended) are notapplicable to the Company.

4. In our opinion and according to the information andexplanations given to us, there is an adequate internal controlsystem commensurate with the size of the Company andthe nature of its business for the purchase of inventoryand fixed assets and also for the sale of goods and services.During the course of our audit, no major weakness hasbeen noticed in the internal control system in respect ofthese areas.

5. According to information and explanation given to us, thereare no contracts or arrangements referred to in section 301of the Companies Act. 1956 that need to be entered intothe register maintained under section 301. Therefore, theprovisions of clause (v) (b) of the Companies (Auditor’s

Report) Order 2003, (as amended) is not applicable to theCompany.

6. The Company has not accepted any deposit from thepublic.

7. In our opinion, the Company has an internal audit systemcommensurate with the size and nature of its business.

8. To the best of our knowledge and as explained to us, theCentral Government has not prescribed the maintenanceof cost records under Section 209 (1) (d) of the CompaniesAct, 1956.

9. In respect of statutory dues:

a) According to the records of the Company, theCompany is regular in depositing with appropriateauthorities undisputed statutory dues includingprovident fund, investor education and protectionfund, employees’ state insurance, income-tax, sales-tax, wealth-tax, service tax, customs duty, cess andother statutory dues applicable to it. According to theinformation and explanations given to us, noundisputed amounts payable in respect of providentfund, investor education and protection fund,employees’ state insurance, income-tax, wealth-tax,service tax, sales-tax, customs duty, cess and otherundisputed statutory dues were outstanding, as atMarch 31, 2010 for a period of more than six monthsfrom the date they became payable.

b) According to the information and explanation givento us, there are no dues of sales tax, income tax, wealthtax, service tax, custom duty, excise duty and cesswhich have not been deposited on account of anydispute.

10. The Company’s accumulated losses at the end of thefinancial year are more than fifty per cent of its net worth.The Company has incurred cash loss in the current financialyear and also in the preceding financial year.

11. Based on our audit procedures and according to theinformation and explanations given to us, we are of theopinion that the Company has not defaulted in repaymentof dues to banks. The Company has not borrowed anyfunds from financial institutions or debenture holders duringthe year under audit.

12. In our opinion and according to the explanations given tous and based on the information available, no loans and


Annexure referred to in paragraph 2 of our report of even dateRe: Reliance Fresh Limited ('the Company')

advances have been granted on the basis of security byway of pledge of shares, debentures and other securities.

13. In our opinion, the Company is not a chit fund or a nidhi/mutual benefit fund/ society. Therefore, the provisions ofclause 4(xiii) of the Companies (Auditor’s Report) Order2003, (as amended) are not applicable to the Company.

14. The Company has maintained proper records oftransactions and contracts in respect of dealing and tradingin shares, securities, debentures and other investments andtimely entries have been made therein. All the shares,securities, debentures and other investments have been heldby the Company in its own name.

15. According to information and explanation given to us theCompany has not given any guarantee for loans taken byothers from bank or financial institutions. Therefore, theprovisions of Clause (xv) of Companies (Auditor’s Report)Order 2003, (as amended) are not applicable.

16. The term loans raised by the company were applied forthe purpose for which loans were obtained.

17. According to the information and explanations given to usand on an overall examination of the balance sheet of thecompany, we report that the no funds raised on short-termbasis have been used for long-term investment.

18. The Company has not made any preferential allotment ofshares to parties and companies covered under Registermaintained under section 301 of the Companies Act, 1956.

19. The Company did not have any outstanding debentureduring the year.

20. The Company has not raised any monies by way of publicissue during the year.

21. Based upon the audit procedures performed for the purposeof reporting the true and fair view of the financial statementsand as per the information and explanations given by themanagement, we have not come across any instance ofmaterial fraud on or by the Company, noted or reportedduring the course of our audit.

For Chaturvedi & Shah For S.V.Ghatalia & AssociatesFirm Registration Number: Firm Registration Number:101720W 103162WChartered Accountants Chartered Accountants

Amit Chaturvedi per Sudhir SoniPartner PartnerMembership No.: 103141 Membership No.: 41870Place: Mumbai Place: MumbaiDate: April 22, 2010 Date: April 22, 2010


(Rs. in lakh)

Schedule As at As at31st March, 2010 31st March, 2009

SOURCES OF FUNDSShareholders’ Funds

Share Capital A 5.00 5.00Loan Funds

Secured Loans B 58.93 109.25Unsecured Loans C 210,028.95 177,573.42

210,087.88 177,682.67

TOTAL 210,092.88 177,687.67

APPLICATION OF FUNDSFixed Assets D

Gross Block 71,513.50 66,645.73Less: Depreciation 11,327.32 5,923.62Net Block 60,186.18 60,722.11Capital Work-in-Progress 52,887.51 53,931.03

113,073.69 114,653.14Investments E 49.00 49.00

Deferred Tax Assets 20,104.73 11,912.17Current Assets, Loans and AdvancesCurrent Assets F

Inventories 21,467.06 17,392.79Sundry Debtors 5,221.87 5,536.86Cash and Bank Balances 1,793.64 736.40

28,482.57 23,666.05\Loans and Advances G 21,052.82 14,720.67

49,535.39 38,386.72Less :Current Liabilities and Provisions H

Current Liabilities 13,313.34 14,204.25Provisions 549.78 785.89

13,863.12 14,990.14Net Current Assets 35,672.27 23,396.58

Profit and Loss Account 41,193.19 27,676.78

TOTAL 210,092.88 177,687.67

Significant Accounting Policies MNotes on Accounts N

Reliance Fresh LimitedBalance Sheet as at 31st March, 2010

As per our Report of even date For and on behalf of the Board

For Chaturvedi & Shah For S.V.Ghatalia & Associates Raghu PillaiChartered Accountants Chartered Accountants Director

Amit Chaturvedi per Sudhir Soni Madhavan GanesanPartner Partner DirectorMembership No. 103141 Membership No. 41870

MumbaiDated : 22nd April, 2010


(Rs. in lakh)

Schedule 2009-10 2008-09

INCOME

Turnover 208,398.97 177,806.20

Less: Service Tax Recovered 125.65 25.85 208,273.32 177,780.35

Other Income I 128.48 132.47

Variation in Stocks J 4,418.19 (967.80)

212,819.99 176,945.02

EXPENDITURE

Purchases 186,105.44 164,110.84

Operating and Other Expenses K 41,786.74 42,251.46

Interest and Finance charges L 8.05 16.78

Depreciation 6,628.73 5,969.81

234,528.96 212,348.89

Profit/ (Loss) before Tax (21,708.97) (35,403.87)

Provision for Fringe Benefit Tax - 176.07

Provision for Deferred Tax (8,192.56) (10,649.63)

Profit/ (Loss) after Tax (13,516.41) (24,930.31)

Add: Balance brought forward from Previous Year (27,676.78) (2,746.47)

Balance carried to Balance Sheet (41,193.19) (27,676.78)

Basic and Diluted Earnings per Share of face value ofRs 10 each (in Rupees) (27,032.82) (49,860.62)(Refer Note 8, Schedule ‘N’)

Significant Accounting Policies M

Notes on Accounts N

Reliance Fresh LimitedProfit and Loss Account for the year ended 31st March, 2010






(Rs. in lakh)

2009-10 2008-09A: CASH FLOW FROM OPERATING ACTIVITIES

Net Profit/ (Loss) before tax as per Profit and Loss Account (21,708.97) (35,403.87)Adjusted for:(Profit)/ Loss on sale/ Discarding of Assets (net) 1,424.96 566.73Depreciation 6,628.73 5,969.81Effect of Exchange Rate Change (1.35) -Interest Income (38.32) (5.20)Interest and Finance Charges 8.05 16.78

8,022.07 6,548.12Operating Profit before Working Capital Changes (13,686.90) (28,855.75)Adjusted for:Trade and Other Receivables 2,111.99 10,192.58Inventories (4,074.27) (47.49)Trade Payables (1,777.16) (121,294.14)

(3,739.44) (111,149.05)Cash Generated from Operations (17,426.34) (140,004.80)Taxes Paid (119.12) (176.07)Net Cash used in Operating Activities (17,545.46) (140,180.87)

B: CASH FLOW FROM INVESTING ACTIVITIESPurchase of Fixed Assets (10,031.87) (16,379.29)Sale/ Decapitalisation of Fixed Assets 4,209.12 1,166.10Purchase of Investments - 5.00Loan to Subsidiaries (8,010.03) (2,446.47)Interest Income 38.32 5.20Net Cash used in Investing Activities (13,794.46) (17,649.46)

C: CASH FLOW FROM FINANCING ACTIVITIESProceeds from Long Term Borrowings 198,146.30 182,251.55Repayment of Long Term Borrowings (165,741.09) (26,384.38)Interest Paid (8.05) (16.78)Net Cash from Financing Activities 32,397.16 155,850.39

Net Increase/ (Decrease) in Cash and Cash Equivalents 1,057.24 (1,979.94)

Opening Balance of Cash and Cash Equivalents 736.40 2,716.34

Closing Balance of Cash and Cash Equivalents 1,793.64 736.40

Reliance Fresh LimitedCash Flow Statement for the year 2009-10






(Rs. in lakh)

SCHEDULE A As at As at31st March, 2010 31st March, 2009

SHARE CAPITAL

Authorised

50 000 Equity Shares of Rs. 10 each 5.00 5.00(50 000)

TOTAL 5.00 5.00

Issued, Subscribed, Called up and Paid-up Fully Paid-up50 000 Equity Shares of Rs. 10 each 5.00 5.00

(50 000)

TOTAL 5.00 5.00

Note:All the above 50 000 (Previous Year 50 000) Equity Shares of Rs. 10 each are held by Reliance Retail Limited, the holding companyalong with its nominees.

(Rs. in lakh)

SCHEDULE B As at As at31st March, 2010 31st March, 2009

SECURED LOANS

Term Loans from Banks:

Rupee Loans * 58.93 109.25

TOTAL 58.93 109.25

* Loans are secured by hypothecation of vehicles.(Rs. in lakh)

SCHEDULE C As at As at31st March, 2010 31st March, 2009

UNSECURED LOANS

Long Term Loan

From holding company 210,028.95 177,573.42

TOTAL 210,028.95 177,573.42

Schedules forming part of the Balance Sheet



SCH

ED

UL

E D

FIX

ED

ASS

ET

S(R

s. in

lakh

)

Descr

iption

Gross

Bloc

kDe

preci

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Net B

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Addit

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Deduc

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/As

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Year

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9Ad

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31st

March

, 20

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t Ma

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Plant

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18.54

1,76

0.11

761.

85 8

,816.8

0 1

,230.9

3 1

,429.1

4 2

33.62

2,42

6.45

6,39

0.35

6,58

7.61

Electri

cal I

nstalla

tions

12,

973.77

2,78

8.07

1,47

9.73

14,2

82.11

582.

04 6

94.34

129.

52 1

,146.8

6 1

3,135.

25

12,391

.73

Equip

ments

30,

858.80

3,56

6.05

3,36

1.73

31,0

63.12

2,24

5.55

2,46

5.64

481.

53 4

,229.6

6 2

6,833.

46

28,613

.25

Furnitu

re and

Fixtu

res 1

,238.8

4 2

,009.9

7 1

16.15

3,13

2.66

81.8

3 1

62.15

13.3

2 2

30.66

2,90

2.00

1,15

7.01

Vehicl

es 1

68.97

18.4

9 6

3.16

124.

30 1

6.05

15.4

9 1

1.29

20.2

5 1

04.05

152.

92

Leaseh

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Improv

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s

13,586

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9 1

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9 1

4,094.

51 1

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2 1

,861.9

7 3

55.75

3,27

3.44

10,8

21.07

11,

819.59

Total

66,6

45.73

11,7

26.88

6,85

9.11

71,5

13.50

5,92

3.62

6,62

8.73

1,22

5.03

11,3

27.32

60,1

86.18

60,

722.11

Previo

us yea

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45,112

.08

23,881

.24 2

,347.5

9

66,645

.734.8

9 5

,969.8

151

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2

60,722

.11

45,107

.19

Capital

Wo

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Progre

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2,887.

51

53,931

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Not

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Cap

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(Rs. in lakh)SCHEDULE E As at As at

31st March, 2010 31st March, 2009

INVESTMENTS

LONG TERM INVESTMENTS

Other Investments - Unquoted, fully paid upIn Equity Shares of Subsidiary Companies *

50 000 Delight Proteins Limited of Rs. 10 each 5.00 5.00(50 000)

50 000 Reliance F & B Services Limited of Rs. 10 each 5.00 5.00(50 000)

50 000 Retail Concepts & Services (India) Limited of Rs. 10 each 34.00 34.00(50 000)

50 000 Reliance Petro Marketing Limited of Rs. 10 each 5.00 5.00(50 000)

TOTAL 49.00 49.00

Aggregate Value of Book value Book value

Unquoted Investments 49.00 49.00

Note:* Investment in companies under the same manangement.


(Rs. in lakh)SCHEDULE F As at As at


CURRENT ASSETS

INVENTORIES

Stores and Packing Materials 816.19 1,160.11

Traded Goods 20,650.87 16,232.68 21,467.06 17,392.79

SUNDRY DEBTORS (Unsecured and Considered Good) (1)

Over six months 106.90 -

Others 5,114.97 5,536.86 5,221.87 5,536.86

CASH AND BANK BALANCES

Cash in Hand 481.91 424.99

Balance with Scheduled Banks

In Current Accounts 1,304.53 304.31

In Fixed Deposit Accounts 7.20 7.10

1,793.64 736.40

TOTAL 28,482.57 23,666.05

Note:(1) Includes Rs. 3,451.19 lakh (Previous Year Rs. 2,705.65 lakh) receivable from the following companies under the same management:

a Delight Proteins Limitedb Reliance Agri Product Distribution Limitedc Reliance Autozone Limitedd Reliance Corporate IT Park Limitede Reliance Hypermart Limitedf Reliance Trends Limitedg Reliancedigital Retail Limitedh Reliance-Grand Vision India Supply Private Limitedi Reliance-Vision Express Private Limitedj Retail Concepts & Services (India) Limited



(Rs. in lakh)SCHEDULE G As at As at


LOANS AND ADVANCES

UNSECURED - (Considered good unless otherwise stated)

Loans to Subsidiary Companies 10,267.30 2,257.27

Advance Income Tax (net of Provision) 637.45 518.33

Advances Recoverable in Cash or in kind or for value to be received (1) 2,206.50 2,729.59

Deposits 5,936.81 6,656.15

Balance with Service Tax/ Sales Tax Authorities, etc. 2,004.76 2,559.33

TOTAL 21,052.82 14,720.67

Note:(1) Includes Rs. 48.60 lakh (Previous Year Rs. Nil) receivable from the following companies under the same management.

Maximum balance receivable during the year Rs. 48.60 lakh (Previous Year Rs. Nil).

a Reliance Agri Product Distribution Limited

b Reliance Food Processing Solution Limited

c Reliance Home Store Limited

d Reliance Wellness Limited



(Rs. in lakh)SCHEDULE H As at As at

31st March, 2010 31st March, 2009CURRENT LIABILITIES AND PROVISIONS

Current Liabilities

Sundry Creditors

- Micro enterprises and Small enterprises (1) - -

- Others (2) 13,312.94 14,204.25

Interest accrued but not due on loans 0.40 -13,313.34 14,204.25

Provisions

Provision for Leave Encashment/ Gratuity 549.78 785.89

TOTAL 13,863.12 14,990.14

Note:(1) The Company has not received the required information from Suppliers regarding their status under the Micro, Small and

Medium Enterprises Development Act, 2006. Hence disclosures, if any, relating to amounts unpaid as at the year end togetherwith interest paid/ payable as required under the said Act have not been made.

(2) Includes Rs. 4.40 lakh (Previous Year Rs. Nil) payable to Subsidiary company and Rs.887.23 lakh (Previous Year Rs. 235.74lakh) for capital expenditure.



SCHEDULE I (Rs. in lakh)

2009-10 2008-09

OTHER INCOME

Interest

From Others 38.32 5.20

[Tax deducted at source Rs. 529 (Previous Year Rs. Nil)]Miscellaneous Income 90.16 127.27

TOTAL 128.48 132.47

SCHEDULE J (Rs. in lakh)

2009-10 2008-09

VARIATION IN STOCKS

STOCK-IN-TRADE (at close)

Traded Goods 20,650.87 16,232.68

STOCK-IN-TRADE (at commencement)

Traded Goods 16,232.68 17,200.48

TOTAL 4,418.19 (967.80)

Schedules forming part of the Profit and Loss Account


SCHEDULE K (Rs. in lakh)

2009-10 2008-09PAYMENT TO AND PROVISIONS FOR EMPLOYEES

Salaries, Wages and Bonus 3,076.82 2,530.63Contribution to Provident Fund, Gratuity Fund,Superannuation Fund, Employee's State Insurance Scheme,Pension Scheme,Labour Welfare Fund etc. 309.96 168.51Employee Welfare and other amenities 541.03 325.82

3,927.81 3,024.96SALES AND DISTRIBUTION EXPENSES

Samples, Sales Promotion and Advertisement Expenses 1,339.98 1,677.25Store Running Expenses 5,085.38 5,157.38Brokerage, Discount and Commission 1.24 1.70Warehousing and Distribution Expenses 5,430.25 3,136.09Sales Tax 6.75 28.47

11,863.60 10,000.89OPERATING AND ESTABLISHMENT EXPENSES

Stores and Packing Materials 2,482.44 3,030.27Machinery Repairs 570.11 18.31Building Repairs and Maintenance 1,766.42 2,560.18Other Repairs 175.05 252.96Rent including Lease Rentals 10,143.10 11,261.10Insurance 61.32 27.64Rates and Taxes 815.91 1,218.16Travelling and Conveyance Expenses 147.19 226.16Payment to Auditors 6.82 6.00Professional Fees 235.23 234.27Loss on Sale/ Discarding of Assets 1,424.96 565.71Exchange Differences (Net) (11.41) 24.26Security Expenses 1,520.23 1,711.84Electricity Expenses 5,435.01 5,737.83Telephone Expenses 437.08 428.52Printing and Stationery 90.33 112.09Hire Charges 487.50 477.22General Expenses 207.74 1,332.61Charity and Donation 0.30 0.48

25,995.33 29,225.61

TOTAL 41,786.74 42,251.46

SCHEDULE L (Rs. in lakh)INTEREST AND FINANCE CHARGES

Fixed Loans 7.78 15.92Others 0.27 0.86TOTAL 8.05 16.78

Schedules forming part of the Profit and Loss Account



SCHEDULE M

SIGNIFICANT ACCOUNTING POLICIES

1 Basis of Preparation of Financial Statements

The financial statements are prepared under the historical cost convention in accordance with the generally accepted accountingprinciples in India, Companies (Accounting Standards) Rules 2006 and the provisions of the Companies Act, 1956.

2 Use of Estimates

The preparation of financial statements requires estimates and assumptions to be made that affect the reported amount of theassets and liabilities on the date of the financial statements and the reported amount of revenues and expenses during thereporting period. Difference between the actual results and estimates are recognised in the period in which the results are known/materialised.

3 Fixed Assets

Fixed Assets are stated at cost net of CENVAT/ Value Added Tax less accumulated depreciation and impairment loss, if any. Allcosts attributable to Fixed Assets are capitalised. Capital Work-in-progress is stated at the amount incurred up to the date ofBalance Sheet. Improvement cost on Lease premises up to the date of commercial operation is capitalised as “LeaseholdImprovements”.

4 Depreciation

Depreciation on Fixed Assets is provided on Straight Line Method at the rates and in the manner prescribed in Schedule XIV tothe Companies Act, 1956 over their useful life except, leasehold improvements are amortised over the lower of estimated usefullife or lease period; fire alarm system, signage and access control system are depreciated over the estimated useful life of fiveyears and baskets are depreciated over the estimated useful life of three years.

5 Impairment of Assets

An asset is treated as impaired when the carrying cost of assets exceeds its recoverable value. An impairment loss is charged tothe Profit and Loss Account in the year in which an asset is identified as impaired. The impairment loss recognised in prioraccounting period is reversed if there has been a change in the estimate of recoverable amount.

6 Lease Rentals

Operating lease rentals are expensed with reference to lease terms and other considerations.

7 Foreign Currency Transactions

a) Transactions denominated in foreign currencies are recorded at the exchange rate prevailing on the date of the transactionor that approximates the actual rate at the date of the transaction.

b) Monetary items denominated in foreign currencies at the year end are restated at year end rates.

c) Non monetary foreign currency items are carried at cost.

d) Any income or expense on account of exchange difference either on settlement or on translation is recognised in the Profitand Loss Account except in case of long term liabilities, where they relate to acquisition of fixed assets, in which case theyare adjusted to the carrying cost of such assets.

8 Investments

Current investments are carried at the lower of cost and quoted/ fair value, computed category wise. Long Term Investments arestated at cost. Provision for diminution in the value of Long Term Investments is made only if such a decline is other thantemporary.

9 Inventories

Items of Inventories are measured at lower of cost and net realisable value, after providing for obsolescence, if any. Cost ofInventory comprises of all cost of purchase and other cost incurred in bringing them to the respective present location andconditions. Costs are determined on weighted average basis.


SCHEDULE M (Contd.)

10 Turnover

Turnover includes sale of goods, service and service tax, adjusted for discounts (net) and Value Added Tax (VAT), if any.

11 Employee Benefits

i) Short term employee benefits are recognised as an expense at the undiscounted amount in the Profit and Loss Account ofthe year in which the related service is rendered.

ii) Post employment and other long term employee benefits are recognised as an expense in the Profit and Loss Account forthe year in which the employee has rendered services. The expense is recognised at the present value of the amountspayable determined using actuarial valuation techniques. Actuarial gains and losses in respect of post employment andother long term benefits are charged to the Profit and Loss Account.

12 Provision for Current and Deferred Tax

Provision for current tax is made after taking into consideration benefits admissible under the provisions of the Income-tax Act,1961. Deferred tax resulting from "timing difference" between taxable and accounting income is accounted for using the tax ratesand laws that are enacted or substantively enacted as on the Balance Sheet date. The deferred tax asset is recognised and carriedforward only to the extent that there is a virtual certainty that the asset will be realised in future.

13 Provision, Contingent Liabilities and Contingent Assets

Provisions involving substantial degree of estimation in measurement are recognised when there is a present obligation as a resultof past events and it is probable that there will be an outflow of resources. Contingent Liabilities are not recognised but aredisclosed in the notes. Contingent Assets are neither recognised nor disclosed in the financial statements.



SCHEDULE N

NOTES ON ACCOUNTS

1 The previous year’s figures have been reworked, regrouped, rearranged and reclassified wherever necessary. Amounts and otherdisclosures for the preceding year are included as an integral part of the current year financial statements and are to be read inrelation to the amounts and other disclosures relating to the current year.

2 The Company is in the process of setting up various facilities for conducting its business. The expenditure incurred during theimplementation period for bringing the Project in the condition of its intended use, is treated as “Project DevelopmentExpenditure” pending capitalisation and included in Capital Work-in-Progress. Capitalisation is done in the ratio of phasedimplementation. The neccesary details as per Part II of Schedule VI to the Companies Act, 1956 have been disclosed below:

Project Development Expenditure Account (included under Capital Work-in-Progress):(Rs. in lakh)

2009-10 2008-09

Opening Balance 14,688.24 5,662.36Add:(i) Payments to and Provisions for Employees

- Salaries, Wages and Bonus 4,205.39 5,771.12- Contribution to Provident Fund, Gratuity Fund, 215.06 244.00Superannuation Fund, Pension Scheme etc.- Employee Welfare and other amenities 241.05 375.46

4,661.50(ii) Repairs and Maintenance

- Machinery 15.21 5.58- Building 187.51 209.01- Other 283.13 403.09

(iii) Insurance 81.43 146.40(iv) Rent including Lease Rentals 267.73 1,970.70(v) Rates and Taxes 40.19 156.66(vi) Travelling and Conveyance Expenses 121.91 586.46(vii) Professional Fees 232.41 381.45(viii) Hire Charges 32.34 126.38(ix) Electricity Expenses 21.90 179.85(x) Telephone Expenses 74.86 141.23(xi) Printing and Stationery 10.99 44.01(xii) General Expenses 48.14 720.08(xiii) Net Loss on Sale of Assets - 13.81

6,079.25 11,475.29Less:Other Interest - 0.60

Less:Capitalised during the year 221.99 2,448.81

Closing Balance 20,545.50 14,688.24

3 Turnover includes Income from Services of Rs.1378.10 lakh (Previous year Rs. 299.84 lakh)4 The Company is mainly engaged in ‘Organised Retail’ in India. All the activities of the Company revolve around this main

business. Accordingly, the Company has only one identifiable segment reportable under Accounting Standard 17 “SegmentReporting”, notified in the Companies (Accounting Standards) Rules 2006.

5 As per Accounting Standard 15 “Employee Benefits” notified in the Companies (Accounting Standards) Rules 2006, thedisclosures of employee benefits as defined in the Accounting Standard are given below:



SCHEDULE N (Contd.)

Defined Contribution Plan (Rs. in lakh)

Contribution to Defined Contribution Plan, recognised are charged off/ capitalised for the year are as under:

2009-10 2008-09

Employer’s Contribution to Provident Fund 229.98 264.92Employer’s Contribution to Superannuation Fund 0.42 -Employer’s Contribution to Pension Scheme 84.86 99.53

Defined Benefit Plan

The present value of obligation is determined based on actuarial valuation using the Projected Unit Credit Method, whichrecognises each period of service as giving rise to additional unit of employee benefit entitlement and measures each unitseparately to build up the final obligation. The obligation for leave encashment is recognised in the same manner as gratuity.TheCompany operates post retirement benefit plans as follows:

I. Reconciliation of opening and closing balances of Defined Benefit obligation(Rs. in lakh)

Gratuity Leave Encashment(Unfunded) (Unfunded)

2009-10 2008-09 2009-10 2008-09

Defined Benefit obligation at beginning of the year 123.96 232.18 662.35 525.75

Current Service Cost 85.37 54.06 58.28 141.16

Interest Cost 9.22 18.57 23.08 36.86

Actuarial (gain)/ loss 78.31 (180.85) 220.55 88.55

Benefits paid (2.14) - (709.20) (129.97)

Defined Benefit obligation at year end 294.72 123.96 255.06 662.35

II. Reconciliation of fair value of assets and obligations

(Rs. in lakh)


2009-10 2008-09 2009-10 2008-09

Fair value of plan assets - - - -

Present value of obligation 294.72 123.96 255.06 662.35

Amount recognised in Balance Sheet 294.72 123.96 255.06 662.35



SCHEDULE N (Contd.)

III. Expenses recognized during the year (Rs. in lakh)


2009-10 2008-09 2009-10 2008-09

Current Service Cost 85.37 54.06 58.28 141.16

Interest Cost on benefit obligation 9.22 18.57 23.08 36.86

Expected Return on Plan Assets - - - -

Past service Cost - - - -

Actuarial gain/ (loss) recognized in the year 78.31 (180.85) 220.55 88.55

Net benefit expense/ (Income) 172.90 (108.22) 301.91 266.57

IV. Actuarial assumptions


2009-10 2008-09 2009-10 2008-09

Discount rate (per annum) 7.50% 8.00% 7.50% 8.00%

Expected rate of return on assets (per annum) - - - 8.00%

Rate of escalation in salary (per annum) 6.00% 4.00% 6.00% 4.00%

The estimates of rate of escalation in salary considered in actuarial valuation, take into account inflation, seniority,promotion and other relevant factors including supply and demand in the employment market. The above information iscertified by the actuary.

6 Payment to Auditors (excluding Service Tax, wherever applicable): (Rs. in lakh)

2009-10 2008-09

(i) Audit Fees 5.00 5.00

(ii) Tax Audit Fees 1.00 1.00

(iii) Expenses Reimbursed 0.10 -

6.10 6.00

7 The Deferred Tax Assets (net) comprise of the following: (Rs. in lakh)

As at As at31st March, 2010 31st March, 2009

(i) Deferred Tax Assets

- Disallowance under the Income Tax Act, 1961 165.12 211.01

- Carried forward loss 29,864.42 18,760.01

(ii) Deferred Tax Liability

- Related to Fixed Assets 9,924.81 7,058.85

20,104.73 11,912.17Note: The virtual certainty is based on agreements.



SCHEDULE N (Contd.)

8 Earnings Per Share (EPS)

2009-10 2008-09

(i) Net Profit/ (Loss) after tax as per Profit and Loss Account (Rs. in lakh) (13,516.41) (24,930.31)

(ii) Weighted Average number of equity shares used as denominator for calculating EPS 50 000 50 000

(iii) Basic and Diluted Earnings/ (Loss) per share of face value of Rs. 10 each (Rupees) (27,032.82) (49,860.62)

9 General description of Lease Terms:

(i) Lease rentals are charged on the basis of agreed terms.(ii) Assets are taken on lease over a period of 1 to 25 years.

10 Value of Imports on CIF basis in respect of: (Rs. in lakh)

2009-10 2008-09

(i) Traded Goods 1,367.40 1,241.07

(ii) Capital goods 1.41 323.33

11 Additional Information (to the extent applicable):

(Rs. in lakh)

As at As at


(i) Capital Commitments:Estimated amount of contracts remaining to be executed on capital accounts 263.62 526.68(net of advances) and not provided for

(ii) Contingent Liabilities:Outstanding guarantees furnished to Banks and Financial Institutions 616.83 521.85including in respect of Letters of Credit

12 Value of Stores and Packing Materials Consumed

2009-10 2008-09

% % ofRs. in lakh of Consumption Rs. in lakh Consumption

Indigenous 2,482.44 100 3,030.27 100



SCHEDULE N (Contd.)

13 Quantitative Details :

The Company has made an application to the Central Government seeking exemption from presenting the information as perparas 3(i)(a) and 3(ii)(b) of Part II of Schedule VI to the Companies Act, 1956. Pending receipt of the approval granting theabove exemption, details are being furnished to the extent practicable and giving meaningful information keeping in view theheterogeneous nature and non-uniform units of measurement of items purchased and sold.

(Rs. in lakh)

Sr. Category Opening Stock Purchases Sales Closing StockNos. Amount Nos. Amount Nos. Amount Nos. Amount

(i) Fresh Fruits & Vegetables - 623.19 - 34,587.47 - 45,181.16 - 834.71- (1,613.68) - (31,192.49) - (38,176.08) - (623.19)

(ii) Staples - 4,741.75 - 50,543.81 - 55,499.83 - 5,531.43- (4,965.65) - (49,529.39) - (50,113.98) - (4,741.75)

(iii) Processed Food - 1,142.83 - 14,567.26 - 16,122.33 - 1,389.98- (1,345.59) - (11,496.42) - (12,771.76) - (1,142.83)

(iv) Beverages - 1,376.99 - 17,657.87 - 18,522.84 - 1,668.08- (1,522.89) - (12,563.24) - (13,308.15) - (1,376.99)

(v) Dairy - 935.93 - 19,804.63 - 21,123.96 - 1,215.61- (1,024.64) - (18,940.47) - (19,862.72) - (935.93)

(vi) Personal Care - 1,590.71 - 15,083.46 - 15,544.34 - 2,762.77- (1,818.33) - (10,656.85) - (11,418.26) - (1,590.71)

(vii) Home Care - 847.26 - 10,172.91 - 11,378.80 - 1,212.48- (678.30) - (7,711.26) - (8,367.39) - (847.26)

(viii)Others - 4,974.02 - 23,688.03 - 23,647.61 - 6,035.81- (4,231.40) - (22,020.72) - (23,462.15) - (4,974.02)

Total - 16,232.68 - 1,86,105.44 - 207,020.87 - 20,650.87- (17,200.48) - (164,110.84) - (177,480.49) - (16,232.68)

14 As per Accounting Standard 18 ‘Related Party Disclosures’, notified in the Companies (Accounting Standards) Rules 2006,the disclosures of transactions with the related parties as defined in the Accounting Standard are given below :

(i) List of related parties with whom transactions have taken place and relationships:

Sr No Name of the Related Party Relationship

1 Reliance Industries Limited Ultimate Holding Company

2 Reliance Retail Limited Holding Company

3 Delight Proteins Limited }4 LPG Infrastructure India Limited }

5 Reliance F&B Services Limited } Subsidiaries

6 Reliance Petro Marketing Limited }

7 Retail Concepts & Services (India) Limited }



SCHEDULE N (Contd.)

8 Reliance Agri Products Distribution Limited }9 Reliance Autozone Limited }10 Reliance Corporate IT Park Limited }11 Reliance Dairy Foods Limited }12 Reliance Digital Media Limited }13 Reliance Food Processing Solutions Limited }14 Reliance Footprint Limited }15 Reliance Home Store Limited }16 Reliance Hypermart Limited }17 Reliance Leisures Limited } Fellow Subsidiaries18 Reliance Loyalty & Analytics Limited }19 Reliance Polyolefins Limited }20 Reliance Retail Insurance Broking Limited }21 Reliance Supply Chain Solutions Limited }22 Reliance Trade Services Centre Limited }23 Reliance Trends Limited }24 Reliance Wellness Limited }25 Reliancedigital Retail Limited }26 RESQ Limited }27 Strategic Manpower Solutions Limited }

(ii) Transactions during the year with related parties (excluding reimbursements):

(Rs. in lakh)

Sr No Nature of Transactions Ultimate Holding Subsidiaries Fellow TotalHolding Company Subsidiaries

Company

1 Unsecured Loans taken/ (repaid) - 32,455.52 - - 32,455.52- 155,974.42 - - 155,974.42

2 Loans and advances given/ (returned) - - 8,010.03 44.62 8,054.65- - 1,907.20 (994.79) 912.41

3 Turnover 72.71 0.42 7,312.90 28,440.48 35,826.51132.94 842.89 5,446.31 10,580.44 17,002.58

4 Purchases - 20.48 37.84 22,913.01 22,971.33- 7,186.66 - 35,030.90 42,217.56

5 Expenditure- Warehousing and - - - 5,293.12 5,293.12Distribution Expenses

- - - 7,625.64 7,625.64

- Store Running Expenses - - - 3,639.28 3,639.28- - - 1,940.81 1,940.81

SrNo Name of the Related Party Relationship



SCHEDULE N (Contd.)

- General Expenses - - - - -- - - 124.68 124.68

Balance as at 31st March, 2010

6 Share Capital - 5.00 - - 5.00- 5.00 - - 5.00

7 Unsecured Loan - 210,028.94 - - 210,028.94- 177,573.42 - - 177,573.42

8 Investments - - 49.00 - 49.00- - 49.00 - 49.00

9 Loans and Advances - - 10,267.30 48.60 10,315.90- - 2,257.27 3.98 2,261.25

10 Sundry Debtors 123.43 - 932.08 2,506.74 3,562.2584.39 - 90.79 1,057.77 1,232.95

11 Sundry Creditors - 32.33 4.40 1,036.30 1,073.03- 91.82 - 590.97 682.79

12 Financial Guarantees taken - 616.83 - - 616.83- 521.85 - - 521.85

Note: Figures in italics represents previous year’s amount.

Disclosure in respect of material Related Party Transactions during the year:

1 Unsecured Loan taken include from Reliance Retail Limited Rs. 32,455.52 lakh (Previous Year Rs. 155,974.42 lakh) .

2 Loans and advances given include to Retail Concepts & Services (India) Limited Rs. 7,191.19 lakh (Previous YearRs.1023.50 lakh), Delight Proteins Limited Rs. 788.66 lakh (Previous Year Rs. 686.01 lakh) and Reliance F&B ServicesLimited Rs. 30.19 lakh (Previous Year Rs. 197.12 lakh).

3 Turnover include to Reliance Retail Limited Rs. 0.42 lakh (Previous Year Rs. 842.88 lakh), Retail Concepts & Services(India) Limited Rs. 7,265.95 lakh (Previous Year Rs. 5425.89 lakh) and Reliance Hypermart Limited Rs. 24,245.71 lakh(Previous Year Rs. 9,530.97 lakh).

4 Purchases include from Reliance Retail Limited Rs. 20.48 lakh (Previous Year Rs. 7,186.66 lakh), Reliance WellnessLimited Rs.10,376.72 lakh (Previous Year Rs.18,246.98 lakh), Reliance Home Stores Limited Rs. 2,684.94 lakh(Previous Year Rs. 6,631.43 lakh ), Reliancedigital Retail Limited Rs. 266.16 lakh (Previous Year Rs. 1,382.24 lakh),Reliance Trends Limited Rs. 293.11 lakh (Previous Year Rs. 1,697.12 lakh) and Reliance Dairy Foods Limited Rs.5,138.92 lakh (Previous Year Rs. Nil).

5 Store Running expenses include Strategic Manpower Solutions Limited Rs. 3,639.28 lakh (Previous Year Rs. 1,940.81lakh).

6 Warehousing and Distribution expenses include Reliance Supply Chain Solution Limited Rs. 5,293.12 lakh (PreviousYear Rs. 7,625.64 lakh).

(Rs. in lakh)

Sr No Nature of Transactions Ultimate Holding Subsidiaries Fellow TotalHolding Company Subsidiaries

Company



SCHEDULE N (Contd.)

15 Loans and advances in the nature of Loans given to Subsidiaries :

(Rs. in lakh)

Sr. Name of the Company As at 31st As at 31st MaximumNo. March, 2010 March 2009 balances

Duringthe year

1 Delight Proteins Limited 290.11 833.84 261.61

2 Reliance F&B Services Limited 1,622.50 259.93 834.74

3 Retail Concept & Services ( India) Limited 8,354.69 1,163.50 2,225.00

Notes:

(i) Loans and Advances shown above, to Subsidiaries fall under the category of ‘Loans & Advances’ in nature of Loans wherethere is no repayment schedule and are re-payable on demand.

(ii) All the above loans and advances are interest free.

(iii) Loans to employees as per Company’s policy are not considered.

(iv) All the above loans/ advances are to the companies under the same management.

16 Expenditure in Foreign Currency:

(Rs. in lakh)

2009-10 2008-09

(i) Travelling and Conveyance Expenses 2.19 -

(ii) Other Repairs 4.77 -

(iii) Other matters - 0.92

6.96 0.92

17 Foreign currency exposures that are not hedged by derivative instruments as on 31st March, 2010 amount to Rs. 17.93 lakh(Previous Year Rs. Nil).

18 Information as required under para 3, 4 and 4A to 4D of part II of schedule VI of Companies Act, 1956 are given to the extentapplicable.







I. Registration Details:

CIN U 0 1 1 0 0 M H 1 9 9 9 P L C 1 2 0 5 6 3

Balance Sheet Date: 3 1 - 0 3 - 2 0 1 0 State Code: 1 1

II. Capital raised during the year (Amount in Rs. lakh):

Public Issue: N I L Rights Issue: N I L

Bonus Issue: N I L Private Placement: N I L

III. Position of Mobilisation and Deployment of Funds (Amount in Rs. lakh):

Total Liabilities: 2 2 3 9 5 6 0 0 Total Assets: 2 2 3 9 5 6 0 0

Sources of Funds: Application of Funds:

Paid up Capital: 5 0 0 Fixed Assets: 1 1 3 0 7 3 6 9

Reserves & Surplus: N I L Investments 4 9 0 0

Secured Loans: 5 8 9 3 Deferred Tax Assets: 2 0 1 0 4 7 3

Unsecured Loan: 2 1 0 0 2 8 9 5 Current Assets: 4 9 5 3 5 3 9

Current Liabilities: 1 3 8 6 3 1 2 Miscellaneous Expenditure N I L

Accumulated Losses: 4 1 1 9 3 1 9

IV. Performance of the Company (Amount in Rs. lakh):

Turnover: 2 0 8 2 7 3 3 2 Total Expenditure: 2 3 4 5 2 8 9 6

Profit/Loss Before Tax: ( 2 1 7 0 8 9 7 ) Profit/Loss After tax: ( 1 3 5 1 6 4 1 )

Earning per share in Rs: Dividend Rate: N I L

- Basic ( 2 7 0 3 2 . 8 2 )

- Diluted ( 2 7 0 3 2 . 8 2 )

V. Generic Names of principal services of the company:

Item Code number N A

Product Description N A

Additional information as required under part IV of Schedule VI to the Companies Act, 1956Balance Sheet Abstract and Company’s General Business Profile:


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