Question 2 On 31st March 2025, the following balances are extracted from the books of Chia Limited: Particulars ₹ in Lakhs 40,000 Equity Shares of ₹ 100 each 40.00 Money received against share warrants 2.70 General Reserves 6.90 Capital Reserves (₹20,000 is Revaluation Reserve) 12.50 Profit and Loss account 3.50 Securities Premium 0.75 Deferred tax liabilities (Net) 0.56 10% Debentures (secured) 5.00 Loan from SSA Finance Corporation 10.00 Other Long Term Loans (unsecured) 4.25 Short-term borrowings 6.95 Trade Payables 5.69 Other current liabilities 1.41 Short-term Provisions 1.36 Total 101.57 Freehold Land 30.88 Plant & Machinery 26.80 Investment in Debentures of Gland Limited 6.00 Capital work in progress 11.40 Trade receivables 11.57 Inventories (finished goods) (as on 31st March 2025) 4.67 Goods-in transit (finished goods) (as on 31st March 2025) 1.35 Call in arrears 0.64 Cash in hand 0.56 Balances with banks 7.70 Total 101.57 **The following additional information is also provided:** * **(i)** The Authorised Share Capital consists of 50,000 Equity Shares of ₹ 100 each. * **(ii)** 5,000 fully paid equity shares were allotted as consideration other than cash. * **(iii)** Debentures of Glad Limited are acquired by the Company with the intention of holding them for more than two years. * **(iv)** The Cost of Plant and Machinery is ₹41,00,000. * **(v)** The balance in loan from SSA Finance Corporation includes ₹ 45,000 for interest accrued but not due. The loan is secured by hypothecation of Plant & Machinery. Loan is repayable in June 2028. * **(vi)** Short-term borrowings include: * Loan from CDC Bank (secured) ₹4,50,000 * Loan from related parties (unsecured) ₹54,000 * **(vii)** Trade Receivables of ₹5,26,000 are due for more than 6 months. * **(viii)** Bills Receivable for ₹ 58,000, maturing on 6th May 2025, have been discounted on 15th March 2025. * **(ix)** The Company on the advice of an independent valuer revalued the freehold land at ₹40,50,000. * **(x)** Inventory of finished goods includes loose tools costing ₹ 1,02,000, which do not meet the definition of Property, Plant & Equipment as per AS 10. * **(xi)** Claims against the Company amounting to ₹ 4,15,000 have not been acknowledged as debt. * **(xii)** Balances with banks include ₹24,000 with Vihar Bank, which is not a Scheduled Bank. You are required to prepare the Balance Sheet of Chia Limited as on 31st March 2025 as per Schedule III of the Companies Act, 2013 (Ignore previous year figures).