JD Orgochem Limited (the company) is headquarterd at Mumbai,Maharashtra, India carries on the business of Manufacturing and trading of dyes & dye intermediates.

Note : 2 The Company continues to prepare financial statements on going concern basis even though the Company has accumulated losses and its net worth has been fully eroded, as the management is confident of reviving the Company and is making possible efforts to resume the production/operations and also taking necessary steps for reducing the cost.

3) Rights, Preferences and restrictions attached to shares

The company has one class of equity shares having a par value of Rs 1/- per share. Each shareholder is eligible for one vote per share held. The Dividend when proposed by the Board of Directors is subject to the approval of the shareholders in the Annual General Meeting except in case of interim dividend. In the event of liquidation, the equity shareholders are eligible to receive the remaining assets of the company after distribution of all preferential amounts in proportion of their shareholding.

C) The scheme of compromise & arrangement approved on June 20, 2008, by Honorable High Court of Bombay envisage issue of fresh equity shares by way of right issues of new 377 equity shares of Rs 1/- each for every 100 existing equity shares held by the Equity Shareholders, which is pending.

4. a) The Zero Coupon Non Convertible Debentures (ZCD) shall be redeemable at a premium of 50% in ten equal quarterly installment commencing from June 30,2015 and ending on September 30, 2017.

b) The Zero Coupon Debentures (ZCD) has been secured by first paripassu charge on all the existing asset of the company situated at Patalganga, MIDC industrial area.

5. a) The Zero Coupon Loan (ZCL) is to be repaid in fifteen equal quarterly installments commencing from June 30,2015 and ending on December 31, 2018, in view of the revised terms for repayment agreed upon.

b) The Zero Coupon loan (ZCL) shall be secured by first paripassu charge on all the existing asset of the company situated at Patalganga, MIDC industrial area and upon creation of such security, the existing security/securities/existing personal guarantees of directors and charges shall stand satisfied and released without any further act on part of secured creditors.

c) All the guarantors of the company shall jointly and severally, provide an irrevocable and unconditional guarantee cum shortfall undertaking in favour of the Secured creditors for Zero Coupon Loan (ZCL) to make good the shortfall, if any, in the event realisation to Zero Coupon Loan(ZCL) from the sale of Patalganga factory is less than the amount outstanding as payable.

6. Other Loan (Unsecured ) of Rs 916.80 Lacs shall be converted into 91,680,000 Equity shares of Rs 1/- each at par within 60 days of issue of new shares under rights issue (which is pending) as per scheme of compromise & restructuring sanctioned by High Court of Bombay and after obtaining necessary approvals.

7. Employee Liabilities Payable includes dues payable to the workers on account of retrenchment & retirements which were provided in the accounts in earlier years on estimated basis. The litigation in the matter is going on in the court. Therefore, final liability on this account cannot be ascertained at this stage. Hence, adequacy of the provision made in this regard in earlier years cannot be ascertained at this stage.

8. Dues payable to the workers on account of retrenchment & retirements were provided in the accounts in earlier years on estimated basis. The litigation in the matter is going on in the court. Therefore, final liability on this account cannot be ascertained at this stage. Hence, adequacy of the provision made in this regard in earlier years cannot be ascertained at this stage.

9. The Company is in the process of identifying suppliers falling under the Micro, Small and Medium Enterprises Development Act, 2006. However, no confirmation as regards to the status has been received by the Company.

In the absence of information as regard to the status/ classification of the relevant enterprises into Micro, Small and Medium Enterprises, information as required under Notification No. G.S.R. 719 (E) dated November 16, 2007 issued by the Department of Company Affairs in respect of the total amount payable and amount of interest thereon paid during the year and payable at the end of the year to the Sundry Creditors could not be disclosed.

10. Advances of Rs17,800,000/- recoverable from Jaysynth Polychem Pvt. Ltd. has been considered doubtful of recovery for which provision is made in the accounts during the year ended March 31, 2014.

11. Defined Benefit Plans

The summarized position of post-employment benefits & long term employee benefits recognized in the Profit & Loss Account and Balance Sheet ( as per Accounting Standard 15) are as under :-

Note :12 Segment Information

a) Primary Segments :

The operation of the Company relates to one business segment i.e. trading of Dyes and Pigments.

b) Secondary Segment :

Entire business operations relates to domestic market.

Note : 13 Related Parties Disclosure under Accounting Standard - 18

i) The list of related parties as identified by the management are as under: Associates / Companies / Firms : -

i) Jaysynth Dyestuff (India) Ltd.

ii) Jaysynth (Europe) Ltd.

iii) Jaysynth Impex Ltd.

iv) Jaysynth Polychem Pvt. Ltd.

v) Shoorji Trikamdas Investment Company Pvt. Ltd.

vi) Jay Pesticides Pvt. Ltd.

vii) R P Trading Co.

viii) Shoorji Trikamdas Colour Co.

ix) Jay Instruments and Systems Pvt. Ltd.

Key Management Personnel

i) Shri Sharadchandra S.Kothari

                              As at March 31, 2015  As at March 31, 2014
                                    Rs                      Rs
Note : 14 Contingent
      Liabilities not
      provided for

a)    Inland Guarantee          45.22   lacs                45.31  lacs

b)    Claims against the        511.00  lacs                511.00 lacs
      Company not acknowledged
      as debts

c)     Liability on account of   25.82   lacs               25.82  lacs
       Gram Panchayat Tax.

Note : 15

In the opinion of the Board and to the best of their knowledge and belief, the realisable value of current assets, loans and advances in the ordinary course of business would not be less than the amount, at which they are stated in the Balance Sheet unless otherwise stated, and the provision for all known and determined liabilities is adequate and not in excess of the amount reasonably required.

Note : 16

Balance of loans & advances, sundry debtors, sundry creditors & deposits are subject to adjustments, reconciliation and confirmation by the parties.

Note : 17

Bank certificates are obtained for bank balances in respect of operative bank accounts. However ,in respect of non- operative & dormant bank accounts,neither bank certificate nor bank statements are available.

Note : 18

Previous year's figures have been regrouped / reclassified, wherever necessary to confirm to the current year presentation.