2 NOTES ON ACCOUNTS FOR THE YEAR ENDED 31ST MARCH 2014

The brvious year figures have been regrouped / reclassified, wherever necessary to conform to the current year brsentation

2.41 In the Opinion of Board of Directors, Current Assets, Loans and Advances, have atleast the value as stated in the Balance Sheet, if realised in the ordinary course of the business.

2.42 Confirmation from debtors and creditors have not been received in a few cases

2.43 Pursuant to Accounting Standard (AS 28) - Impairment of assets, the Company assessed its fixed assets for impairment as at March 31,2014 and concluded that there has been no significant impaired fixed asset that needs to be recognised in the books of account.

2.45 The Company is yet to appoint the Chief Financial officer in place of the one, who has resigned on 31st July 2013 and hence the financial statements have not been attested by a Chief Financial officer.

As per our report of even date

for S.Janardhan and Associates

Chartered Accountants

Firms’ Registration No.005310S

B.Anand

Partner

Membership No.029146

For and on behalf of the Board of Directors of

HITTCO TOOLS LTD

Sidharth Bhandari Managing Director

Surendra Bhandari Chairman

Chittaranjan Jena Company Secretary

Place: Bangalore

Date: 28/05/2014