(ix) Provisions

Provisions are recognized when the Company has a present obligation (legal or constructive) as a result of a past event, it is probable that the company will be
required to settle the obligation, and a reliable estimate can be made of the amount of the obligation.

The amount recognized as a provision is the best estimate of the consideration required to settle the present obligation at the end reporting period, considering
the risks and uncertainties surrounding the obligation. When a provision is measured using the cash flows estimated to settle the present obligations its
carrying amount is the present value of those cash flows (when the effect of the time value of money is material)

When some or all the economic benefits required to settle a provision are expected to be recovered from a third party, a receivable is recognized as an asset if

(x) Cash and Cash Equivalents

For the purpose of presentation in the statement of cash flows, cash and cash equivalents includes cash on hand, Current bank balances held at call with
banks.

(xi) Earning Per Share

Basic earnings per share is computed by dividing the profit/ (loss) after tax by the weighted average number of equity shares outstanding during the year. The
weighted average number of equity shares outstanding during the year is adjusted for treasury shares, bonus issue, bonus element in a rights issue to existing
shareholders share split and reverse share split. Diluted earnings per share is computed by dividing the profit/(loss) after tax as adjusted for dividend, interest
and other charges to expense or income (net of any attributable taxes) relating to the dilutive potential equity shares, by the weighted average number of equity
shares considered for deriving basic earnings per share and the weighted average number of equity shares which could have been issued on the conversion of
all dilutive potential equity shares including the treasury shares held by the company to satisfy the exercise of the share options by the employees.

1.03 Critical estimates and judgements

The Company is required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent
from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual
results may differ from these estimates. The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are
recognized in the period in which the estimate is revised if the revision affects only that period or in the period of the revision and future period, if the revision
current and future period.

A Key sources of estimation uncertainty

I Contingencies

The Company having a contingent liabiltity of Income Tax outstanding Demand of Rs.9.39 Crores which will be extinguished persuant to NCLT Order by
operation of lawa clearly laid in the case of Ghanshyam Mishra and Sons Private Limited v. Edelweiss Assets Reconstruction Company Limited , (2021) 9
SCC 657.

II Provisions and liabilities

Provisions and liabilities are recognized in the period when it becomes probable that there will be a future outflow of funds resulting from past operations or
events that can reasonably be estimated.

The timing of recognition requires application of judgement to existing facts and circumstances, which may be subject to change.

The amounts are determined by discounting the expected future cash flows at a pre-tax rate that reflects current market assessments of the time value of
money and the risks specific to the liability.

III Useful lives of fixed assets

Management reviews the useful lives of fixed assets at once in a year. Such lives are dependent upon an assessment of both the technical lives of the assets
and also their likely economic lives based on various internal and external factors including relative efficiency and operating costs.

Accordingly depreciable lives are reviewed annually using the best information available to the management.

25 Going Concern Concept

The new management will introduce the business of precious metals in the company,

The new management also revives the company and will list the share of the company in NSE and BSE,
so that existing investors and public shareholders can get benefit in their investment.

26 Insolvency and Bankruptcy Code

1 The Hon'ble National Company Law Tribunal (NCLT), Kolkata Bench vide its Order dated 11th February, 2022
("Insolvency Commencement Date") had initiated the Corporate Insolvency Resolution Process (CIRP) of Eastern
("Company"/ "ESIL") under the Insolvency and Bankruptcy Code, 2016 ('IBC').

2 Pursuant to commencement of insolvency proceedings, with effect from 11th March, 2022, the powers of the

Board of Directors of the Company stood suspended and such powers along with the management of the
Company were vesting with Mr. Ajay Kumar Agarwal, who was appointed as the Interim Resolution Professional
('IRP') with respect to the Company.

3 Subsequently, in accordance with NCLT order dated 18th April, 2022, such powers and the management of the
Company vested with Mr. Anup Singh (IP Reg. No. IBBI/IPA-001/IP-P00153/2017-18/10322),appointed as the

Resolution Professional ('RP') with respect to the Company.

A resolution plan for the Company, as submitted by M/s Kundan Care Products Limited ('Successful Resolution
Applicant' / 'SRA') was approved by the Committee of Creditors of the Eastern Sugar & Industries Limited on 27th
November, 2022 and an application was filed by the RP before the NCLT for approval of the Resolution Plan. The
Hon'ble NCLT vide its order pronounced on 04th October 2023 approved the Resolution Plan MA under Section 31 (1)

4 of the Insolvency and Bankruptcy Code, 2016.

Further the approved Resolution Plan provides that, "Upon approval of Resolution Plan by the Hon'bleNCLT, the
existing Directors and KMP of the Company as on Completion Date shall be deemed to have resigned without any
additional approval from the shareholders and new Board of Directors was constituted on 27.02.2024 including

5 requisite committees."

Furthermore, the approved Resolution Plan also provides the reduction of Existing Share Capital by cancellation of
share of existing promoters and allotment of new shares to the Resolution Applicant and its nominee/associates and

6 reduction in Face Value of Share from Rs. 10/- to Rs. 1/-.

No financial statement are prepared during CIRP for financial year ending 31st March 2023.Accordingly figure

7 appearing in financial statement as on 31st March 2022 is carried as it is upto NCLT court order approving resolution
plan on dated 04th October 20223.Further financial statement ending 31st March 2023 are also prepared with same
figures of 31 Mar 2022.

As per approved Resolution plan, CIRP cost is payable amounting 65 Lacs which are clubbed with amount payable to

⁸ financial creditors.

Necessary restructuring entries are passed in books of accounts pursuant to approval of resolution plan, but issuance

9 of share capital to public and promotors is in process as ondate of signing of financial statement.

27 Financial Instruments

(a) Financial risk management objective and policies

This section gives an overview of the significance of financial instruments for the company and provides additional
information on the balance sheet. Details of significant accounting policies, including the criteria for recognition, the
basis of measurement and the basis on which income and expenses are recognised, in respect of each class of financial
asset, financial liability and equity instrument.

(b) FINANCIAL RISK MANAGEMENT OBJECTIVE AND POLICIES:

The Company's principal financial liabilities, other than derivatives, comprise loans and borrowings, trade and
other payables and advances from Customers. The Company's principal financial assets include Investment, loans
and advances, trade and other receivables and cash and bank balances that derive directly from its operations.
The Company is exposed to market risk, credit risk and liquidity risk. The Company's senior management
oversees the management of these risks. The Board of Directors reviews and agrees policies for managing each of
these risks, which are summarised below.

Market Risk

Market risk is the risk that the fair value of future cash flows of a financial assets will fluctuate because of
changes in market prices. Market risk comprises three types of risk: interest rate risk, currency risk and other
price risk, such as equity price risk and commodity risk. Financial Assets affected by market risk include loans and
borrowings, deposits and derivative financial instruments.

Interest Rate Risk

Interest rate risk is the risk that the fair value or future cash flows of a financial instrument will fluctuate because
of changes in market interest rates. The Company's exposure to the risk of changes in market interest rates
relates primarily to the Company's long-term debt obligations with floating interest rates.

Foreign Currency Risk

Foreign currency risk is the risk that the fair value or future cash flows of an exposure will fluctuate because of
changes in foreign exchange rates. The Company's exposure to the risk of changes in foreign exchange rates
relates primarily to the Company's operating activities (when revenue or expense is denominated in a foreign
currency).

Credit Risk

Credit risk is the risk that a counter party will not meet its obligations under a financial instrument or customer
contract, leading to a financial loss. The Company is exposed to credit risk from its operating activities (primarily

trade receivables).

Trade Receivables

Customer credit risk is managed by each business unit subject to the Company's established policy, procedures
and control relating to customer credit risk management. Outstanding customer receivables are regularly
monitored. An impairment analysis is performed at each reporting date on an individual basis for major clients.

Financial Instruments and Cash Deposits

Credit risk from balances with banks and financial institutions is managed by the Company's treasury department
in accordance with the Company's policy. Investments of surplus funds are made only with approved authorities.
Credit limits of all authorities are reviewed by the Management on regular basis.

Liquidity Risk

The Company monitors its risk of a shortage of funds using a liquidity planning tool.The Company's objective is to
maintain a balance between continuity of funding and flexibility through the use of bank overdrafts, Letter of
Credit and working capital limits.

28 Capital Management

For the purpose of the Company's capital management, capital includes issued equity capital,
securities premium and all other equity reserves attributable to the equity holders of the
Company. The primary objective of the Company's capital management is to safeguard
continuity, maintain a strong credit rating and healthy capital ratios in order to support its
business and provide adequate return to shareholders through continuing growth.

The Company manages its capital structure and makes adjustments in light of changes in
economic conditions and the requirements of the financial covenants. The funding requirement is
met through a mixture of equity and internal accruals.

29 Post Reporting Events

No adjusting or significant non-adjusting events have occurred between the reporting date and
the date of authorisation.

30 Authorisation Of Financial Statements

The financial statements for the year ended March 31, 2024 were approved by the Board of
Directors on 29TH MAY 2024. The management and authorities have the power to amend the
Financial Statements in accordance with Section 130 and 131 of The Companies Act, 2013."

31 The company has not obtained registration under PF & ESIC Act, as required under the prevailing
law, since the number of employees employed exceeded the prescribed limit. The company is
planning to obtain such registration under the respective act after receiving an expert opinion on
the matter. The liability arising on such an account is not determined.

32 In the opinion of the Management, Current Assets, Loans and Advances are of the value stated,
if realized in the ordinary course of business, subject to confirmation and realisation.

33 The Board of director of the company is chief operating desicion maker (CODM) monitors the
operating result of the company. CODM has identified only one repotable segment as the
company is providing cable television network and allied services only. The operations of the
Company are located in India.

30 There is no contingent liability as on March 31, 2024.

31 In the opinion of the Board, the current assets are approximately of the value stated, if realised
in the ordinary course of business. The provision for all known liabilities are adequate and not in
excess of amount reasonably necessary.

32 Information in respect of micro and small enterprises as at 31st March 2024 as required by
Micro, Small and Medium Enterprises Development Act, 2006

(Based on the information, to the extent available with the company)

The principal amount and the interest due thereon remaining unpaid to any MSME supplier as at
the end of each accounting year:-

34 Other information required under Schedule III of the Companies Act 2013:

a) Company has not revalued the Plant, Property and Equipment during the year or in previous
year.

b) Company does not have any undisclosed income, which has not been recorded in the books of
accounts that has been surrendered or disclosed as income during the year in the tax
assessment under the Income tax Act, 1961 (such as, search or survey or any other relevant
provisions of the Income Tax Act,1961).

c) No proceeding have been initiated or pending against the company for holding any benami
property under the Benami Transaction (Prohibition) Act, 1988(45 of 1988) and the rules made
there under.

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

e) The Company do not have any charges or satisfaction which is yet to be registered with ROC
beyond the statutory period.

f) Company has not been declared wilful defaulter by any banks /Financial Institution.

g) Company has not held any transaction with another company whose name has been struck off.

h) Company has not approved any scheme of arrangement.

i) Company does not have any immovable properties whose title deeds are not in the name of the
company.

j) Company has not granted loan to promoter director and KMPs and related parties, severally or
jointly with any other person during the year.

k) Provision of Section 135 of the Companies Act 2013 related to Corporate Social Responsibility is
not applicable to the company.

l) The Company do not have any charges or satisfaction which is yet to be registered with ROC
beyond the statutory period.

36 Capital Commitment as on 31.03.2024 : NIL

37 Previous year’s figure have been regrouped and rearranged whenever necessary to make them comparable with those of the current year

As per our attached report of Even Date
For Ashwani & Associates
Chartered Accountants

Firm Registration No . 000497N For and on Behalf of Board of Directors

Nitin Gupta Siddharth Gogia Deepak Gupta

Partner Director Director

Membership No. 511783 Din: 07202627 Din: 06643918

Place : New Delhi Place: Delhi Place: Delhi

Date : 29 May 2024 Date : 29 May 2024 Date : 29 May 2024