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<in-bse-fin:DisclosureOfNotesOnFinancialResultsExplanatoryTextBlock contextRef="OneD">1. The above Unaudited Financial Results have been reviewed by the Audit Committee and approved by the Board of Directors at their respective meetings held on 14th February 2022. The Limited Review  of  the  Unaudited  Financial  Results for  the quarter  and nine months ended 31-12-2021,  pursuant  to  Regulation 33 (3) (c) (1) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 as amended have been carried out by the Statutory Auditors.   2. The Company is primarily engaged in the business of real estate development which as per Indian Accounting Standard on operating segment (Ind AS-108) is the only operating segment.   3. The above financial results  have  been  prepared in   accordance  with  the Companies  ( Indian Accounting Standards )  Rules, 2015 (Ind AS), as prescibed under 133 of the Companies Act 2013, and the other recognised accounting practices and policies to the extent applicable   4. The management has evaluated the possible effects that may result from the pandemic relating to COVID–19 in the preparation of these financial results including the recoverability of carrying amounts of financial and non financial assets and based on its review and current indicators of future economic conditions, there is no significant impact on its financial results. In developing the assumptions relating to the possible future uncertainties in the global economic condition because of COVID-19,the Company has, at the date of approval of these financial results, used internal and external sources of information on the expected future performance of the company. The impact of COVID-19 on the company's financial results may differ from that estimated as at the date of approval of these financial results.   5. During the Current quarter, demand notice in respect of Talabasta Fireclay Mines had been raised by the Office of the Mining Officer of Government of Odisha amounting to Rs.1,05,90,279/- for the alleged excess extraction/production of minerals over the quantity permitted under the mining plan/scheme, environmental or consent to operate and other statutory permissions during the year 2000-01 to 2010-11 under Section 21(5) of Mines &amp; Minerals (Development and Regulation) Act, 1957 ('Act') against the Company. The Company is of the view that all royalty and other dues were paid to the State Government during the period the said mine was operational and the minerals were used for captive purpose only in their refractory unit. The Company is in consultation with its legal advisors for seeking relief from either the High Court or Revisional authority for getting best legal remedies/recourses available to the Company in reference of the aforesaid demand.   6. Previous period figures have been regrouped / reclassified whereever necessary to correspond with the current period classification / disclosures.</in-bse-fin:DisclosureOfNotesOnFinancialResultsExplanatoryTextBlock>
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