Monind Ltd. - Quarterly/Annual Result Disclosures and Notes dated 31 Mar 2019

1. The above financial statements have been reviewed by the Audit Committee in its meeting held on 30th May, 2019 and then approved by the Board of Directors in its meeting held on 30th May, 2019.

2(a) The company has invested in preference shares of Monnet Ispat & Energy Limited for Rs. 17500.00 lacs in earlier years . These shares have been declared of NIL value by NCLT order in respect of investee company. Consequently the investment in shares have been written off during the year and has been shown as exceptional item in Statement of Profit & Loss.

2(b) During the year the company has entered into settlement agreement with bank. Consequent to the settlement, the company has discharged loan liability and a sum of Rs. 13561.06 Lacs have been waived off by the bank. Out of such amount of waiver, a sum of Rs. 10518.95 lacs has been transferred to capital reserves , considering the same as capital receipt and Balance amount of Rs. 3042.12 lacs has been shown as exceptional item in Statement of Profit & Loss.