Notes to the Financial Statements for the year ended March 31, 2015

1. Significant Accounting Policies

1.1. Basis of accounting and brparation of financial statements

The financial statements of the company have been brpared in accordance with the Generally Accepted Accounting Principles in India (Indian GAAP) to comply with the Accounting Standards specified under Section 133 of the Companies Act, 2013 read with Rule 7 of the Companies (Accounts) Rules 2014 and the relevant provisions of the Companies Act, 2013. The Financial Statements has been brpared on accrual basis under the historical cost convention. The Accounting Policies adopted in the brparation of the financial statements are consistent with those followed in the brvious year.

1.2 Use of estimates

The brparation of the financial statements in conformity with the Indian GAAP requires the mangement to make estimates and assumptions considered in the reported amount of assets and liabilities (including contingent liabilities and the reported income and expenses during the year. The management believes that the estimates used in the brparation of the financial statements are prudent and reasonable. Future results could differ due to these estimates and the differences between the actual results and the estimates are recognised in the periods in which the results are known / materialise.

1.3 Fixed Assets and Debrciation

1.3.1Fixed Assets are stated at cost, less accumulated debrciation. Cost comprises the purchase price and any attributable cost of bringing the assets to its working condition for its intended use. Financing cost relating to acquisition of fixed assets are also included to the extent they relate to the period till such assets are ready to be put to use.

1.3.2 Debrciable amount for assets is the cost of an asset, less its estimated residual value . Debrciation on tangible fixed assets has been provided under the Straight Line Method as per the useful life brscribed in Schedule II to the Companies Act, 2013.

1.3.3Fixed assets individually costing Rs.5,000 or less are fully debrciated in the year of purchase / installation. Debrciation on additions and disposals during the period is provided on a pro-rata basis.

1.4 Investments

The Company values its investments at cost. In case of quoted investments, provision for diminution in the value of investments is not made as in the opinion of management such diminution is not of a permanent nature.

1.5 Cash and cash equivalents

Cash and cash equivalents in the cash flow statement comprises cash in hand and balance in bank in current accounts, deposit accounts and in margin money deposits.

1.6 Cash Flow Statement

Cash Flows are reported using the indirect method, whereby profit/(loss) before extraordinary items and tax is adjusted for the effects of transactions of non cash nature and any deferrals or accruals or past or future cash receipts or payments . The Cash Flows from operating, investing and financing activities of the company are segregated based on the available information.

1.7 Inventory

The Company values its inventories of shares at cost.

1.8 Tax Expenses

1.10 Provisions and Contingencies

Income tax expense comprises current tax as per Income Tax Act, 1961 and deferred tax charge or credit ( reflecting the tax effects of timing difference between accounting income and taxable income for the period). The deferred tax charge or credit and the corresponding deferred tax liabilities or assets are recognized using the tax rates that have been enacted or substantively enacted by the balance sheet date.

1.9 Employee Benefits

Pursuant to the requirements of AS 15 (revised 2005) on “Employee benefits”, issued by the Institute of Chartered Accountants of India which has become effective from April 1, 2007, the Company has not provided for employee benefits as per the revised requirements of the standard.

1.10 Provisions and Contingencies

A provision is recognised when the company has a brsent obligation as a result of past events and it is probable that an outflow of resources will be required to settle the obligation in respect of which a reliable estimate can be made. Provisions are not discounted to their brsent value and are determined based on the best estimate required to settle the obligation at the reporting date. These estimates are reviewed at each reporting date and adjusted to reflect the current best estimate. Contingent Liablities are disclosed unless the possibility of outflow of resources is remote. Contingent Assets are neither recognised nor disclosed in the financial statements.

Notes to the financial statements

1 Disclosure required by Accounting Standard (AS) 15 (Revised) on “Employee Benefits”:

The Company has not made any provision towards Employee Benefits during the financial year 2014-15 and hence there are no details to be disclosed as per Accounting Standard (AS) 15 on “Employee Benefits”. However the Company accounts for these benefits on payment basis as and when the payment is made to the employees.

2 Disclosures of Provisions required by Accounting Standards (AS) 29 on “Provisions, Contingent Liabilities and Contingent Assets”:

The Company has been advised that Income Tax Demand for assessment year 2001-02 is likely to be either deleted or substantially reduced. Accordingly, in the opinion of the management there are no provisions for which disclosure is required during the financial year 2014-15 as per Accounting Standard (AS 29) on "Provisions, Contingent Liabilities and Contingent Assets".

3 Contingent Liabilities and Commitments

The Company has filed an appeal with ITAT New Delhi against income tax demand of Rs. 24,32,956/- for A.Y 2001-02 which is pendig. In the opinion of the mangement, there are no other contingent liabilities and capital commitments which needs to be disclosed in the financial statements.

4  Gain or loss on foreign currency transaction and translation:

The Company has not made any foreign currency transactions during the financial year 2014-15.

5 For the year ended 31st March, 2015, the Board of Directors of the Company have not recommended any dividend for the shareholders of the company.

6  In the opinion of the management, the current assets, loans and advances are expected to realize at least the amount at which they are stated, if realized in the ordinary course of business and provision for all known liabilities have been adequately made in the books of accounts.

7 The brvious figure have been reclassified/ rearranged / regrouped to correspond with current year figures.

Auditor’s Report As per our separate report of even date attached

For Deepika Setia & Co.

Chartered Accountants

FRN-013515N

D.S. Kajal

F.C.A. Partner

M.No.091609

For Titan Securities Limited

Manju Singla Managing Director DIN-00027790

Naresh Kr. Singla Director DIN-00027448

Ravinder Singh Kataria Co-Secretary ACS-31359

Rajiv Goel Chief Financial Officer

Place : Delhi

Date : 28.05.2015