Note:1

1) In the opinion of the Management, the Current Assets and Loans and Advances are not less than the value stated, if realised in the ordinary course of business.

2) Figures of the brvious year have been regrouped and recast wherever necessary so as to make them comparable with those of the current year.

3) Significant Accounting Policies:

a) Fixed Assets are stated at cost less Debrciation. Debrciation on fixed asstes is provided as per the straight Line Method on pro rata basis at the rates and in the manner brscribed by the schedule XIV of the companies act 1956

b) The brparation of the financial statements in conformity with generally accepted accounting principles requires management to make estimates and assumptions to be made that affect the reported amounts of revenue and expenses during the reporting period, the reported amount of assets & liabilities and the disclosures relating to the contingent liabilities on the date of the financial statements. Examples of such estimates include useful lives of provisions for doubtful debts/advances, deferred tax etc. Actual results could differ from those estimates, such difference is recognised in the period/s in which results are known / materialised.

c) The accounts are brpared on the basis of going concern under historical cost convention as also accrual basis and in accordance with Accounting Standards referred to in Section 211 (3C) of the Companies Act 1956, which have been brscribed by the Companies (Accounting Standards) Rules 2006, and the relevant provisions of the Companies Act, 1956.

d) Stock in Trade is valued at Cost or Market Value, whichever is lower.

e) Long term Investments are carried at cost less provisions, if any, for permanent diminution in value of such investment. No Provision is considered necessary for temporary diminision in value of such investments.

f) Current Tax is the amount of tax payable on the taxable income for the year as determined in accordance with the provision of Income Tax Act, 1981

g) In view of smallness of liability and uncertainty, retirement benefit have not been provided for as per AS 15.

h) If internal / external indications suggest that an asset of the company may be impaired, the recoverable amount of asset / cash generating asset is determined on the Balance Sheet date and if it is less than its carrying amount, the carrying amount of the asset / cash generating unit is reduced to the said recoverable amount. The recoverable amount is measured as the higher of net selling price and value in use of such assets / cash generating unit, which is determined by the brsent value of the estimated future Cash Flows. As at the Balance Sheet date, there was no such indication.

i) Transferred to statutory reserves u/s (45 IC) of RBI Act amounting to Rs. 3,49,366/- for current year, where as Rs.1,68,21,728/- pertains to prior years.

j) The Company has no other Segment except that of securities. Therefore, segment accounting as of AS-17 is not required.

k) Income and expenditure pertaining to prior period, wherever material, are disclosed separately.

m) The Company recognised as Provisions, the liabilities being brsent obligations arising from past events, the settlement of which is expected to result in an outflow of resources and which can be measured only by using a substantial degree of estimation,

n) Contingent Assets are neither recognised nor disclosed.

o) Contingent Liability is disclosed by way of note to the financial statements after careful evaluation by the management of the fact and legal aspect of the matters involved.

4) Prudential Norms of NBFC:

 i. The loan granted and rate of interest are subject to confirmation of counter parties.

ii. KYC documents, Loan agreement and other essential documents for loan are under reconciliation.

iii. Provision for Non Performing Assets is yet to be provided.

5) The Company has no outstanding dues to small-scale industrial undertakings as on 31st March, 2014

6) The Company is contingently liable on account of Gratuity up to 31/03/2014 is Rs. 3,04,025/- (PY. Rs. 343,991/-) Other benefits like leave encashment are accounted on accrual basis.

7) Other Information pursuant to Schedule VI of the Companies Act, 1956 is either Nil or Not Applicable.

As per our Report of even date attached.

For Pravln Chandak & Associates

Chartered Accountants

(FRN: 116627W)  

Sd/- (Pravin Chandak)

Partner

(Membership No : 049391)

For and on behalf of the Board

Indra Kumar Bagri Director

Anil Kumar Bagri SaV- Oiractor

Place: Mumbai

Date : June 30, 2014