1. STATEMENT OF SIGNIFICANT ACCOUNTING POLICIES AND NOTES ANNEXED TO AND FORMING PART OF THE ACCOUNTS

A. Accounting Policies

1. Basis of Preparation:

The financial statements are brpared under the historical cost convention and the requirements of the Companies Act, 1956.

2. Use of Estimates:

The brparation of financial statements requires the management of the company to make estimates and assumption that affect the reported balances of assets and liabilities and disclosures relating to the contingent liabilities as at the date of the financial statements and reported amount of incomes and expenses during the year.

3. Fixed Assets:

Fixed Assets are stated at Cost, less accumulated debrciation. Cost includes expenditure incurred in the acquisition and construction / installation and other related expenses.

4. Debrciation:

Debrciation is provided under Written down Value method and the rates and in the manner specified under Schedule II of the Companies Act, 2013.

5. Investments:

There was no any Investments in the Company during the year.

6. Retirement Benefits:

There being no employee of permanent nature serving continuously for specified period for entitlement to Retirement benefits under the statutory regulations no provisions therefore was made in the accounts. The terms of employment does not permit for carry forward and/ or encashment of leave and hence no provision for leave encashment was made in the Accounts.

7. Revenue Recognition:

Revenue form sales are recognized upon delivery. This is when title passes to the customer. Items of Income and Expenditure are recognised on accrual and prudent basis.

8. Taxation:

Provision for Taxation is made on the basis of the taxable profits computed for the current accounting period (reporting period) in accordance with the Income Tax Act, 1961.

Deferred Tax expenses or benefit is recognized on timing difference being the difference between books accounting debrciation on fixed assets as per companies Act'1956 and taxable debrciation as per Income Tax Act'1961 that originated in one period and are capable of reversal in one or more subsequent period. Deferred tax assets and liabilities are measured using the tax rates and tax law that have been enacted or substantively enacted by the balance sheet date.

Minimum Alternative Tax (MAT) credit asset is recognized in the Balance Sheet where it is likely that it will be adjusted against the discharge of tax liability in future under Indian Income Tax Act, 1961.

9. Inventories

Inventories are carried at lower of cost and net realizable value. Cost is determined on a weighted average basis.

10. Contingent Liabilities:

Contingent Liabilities are not provided but disclosed by way of notes under Notes to the Accounts.

11. Inventory Valuation

Inventories are carried at lower of cost and net realizable value. Cost is determined on a weighted average basis. Work-in-progress is carried at lower of cost or net realisable value. Finished goods are carried at lower of cost and net realisable value.

12. Earning per Share:

Earning per share is calculated by dividing the net profit or loss after tax for the period attributable to equity shareholders, by the weighted average number of equity shares outstanding during the period.

For the purpose of calculating diluted earnings per share, the net profit or losses for the period attributable to equity shareholders and weighted average number of shares outstanding during the period are adjusted for the effects of all dilutive potential equity shares.

3. There is no opening & closing stock in the Company during the year. So no question of verification & valuation of the stock.

4. The Company has not provided gratuity on the basis of actuarial valuation as brscribed under the accounting standard and the guideline framed by the Institute of Chartered Accountants since in the opinion of the management no employee has not completed five years of services and/or qualified to receive.

6. Income Tax has been provided according to tax liabilities determined as per the financial statements brpared as at 31st March, 2015.

7. No creditor of the Company has informed the company of their status being SSI Units.

8. There are no Micro, Small and Medium Enterprise to whom the Company owes dues which are outstanding for more than 45 days at the Balance Sheet date.

9. The management has certified that same as above there are no other matter or claims involving the company and for which liabilities may arise at brsent or in future and/or which may otherwise require any disclosure on the face of the accounts and/or in auditors report etc.

10. As per Accounting Standard 17, The Company operates solely in the Information Technology Solutions segment & hence no separate information for segment wise disclosure is required.

11. Earnings per share are computed in accordance with Accounting Standard-20 issued by the Institute of Chartered Accountants of India.

a) Profit after Tax as per Accounts (^ In Lacs)

b) Weighted Average of Shares Outstanding during the period

c) Nominal Value of Equity Shares

d) Earnings Per Share-Basic (^)

e) Earnings Per Share-Diluted (^)

12. The figures of the brvious year have been regrouped, rearranged and reclassified wherever necessary to conform to current.

For RANJIT JHA & ASSOCIATES

CHARTERED ACCOUNTANTS

Firm Regd No. 326969E

Ranjit Jha

Partner

Membership No.068333

For and on behalf of the Board

AJain - W T Director

R. Gupta  - Director

J. Tiwari  - Company Secretary

S. Mukherjee - Chief Financial Office

Place: Kolkata

Dated: 30th day of MAY, 2015