Notes forming part of the financial statements :

1. Corporate Information

The Company is registered as Non Deposit Taking Non-Banking Finance Company with The Reserve Bank of India. The company is trading and Investing in Shares,and investing in Mutual  Funds and other similar products apart from providing Loans. The CIN of the Company is  L67120WB1981PLC033771. The shares of the company are listed on the Calcutta Stock Exchange as well on the Bombay Stock Exchange.

2. Significant Accounting Policies

2.1. 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) and to comply with the Accounting Standards notified under the Section 133 of the Companies Act 2013 read with Rule 7 of the Companies (Accounts) Rules, 2014) and other accounting pronouncements of the Institute of Chartered Accountants of India. The Company follows the directives brscribed by the Reserve Bank of India ('RBI') for Non Banking Finance Companies.

The Financial Statements have been brpared under the historical cost convention on an  accrual basis. However income is not recognised and also provision is made in respect of non performing assets as per the guidelines for prudential norms brscrobed by the RBI. Except otherwise mentioned, the accounting policies applied by the company are consistent with those used in earlier years.

2.2. Use of Estimates

The brparation of the financial statements in conformity with Indian GAAP requires the  Management to make estimates and assumptions considered in the reported amounts of assets and liabilities (including contingent liabilities) and the reported income and expenses during the year. The Management believes that the estimates used in 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.

2.3. Non Current, Current Investments & Inventories

Non Current Investments, are valued at cost (on FIFO) after providing for obsolescence and other losses, where considered necessary Cost includes all charges in bringing the goods to the point of sale, including all levies, charges and other expenses. Provision for Diminution in Value of Long Term Investments is made if such decline is other than temporary in the eyes of the  Management.

Current Investments and Inventories of Shares are valued at cost or fair Value whichever is lower as per provisions of As13

2.4. Short term loans & Advances

These are unsecured , considered good by the management except as otherwise disclosed and provided for.

2.5. Revenue Recognition

The company follows accrual basis of accounting. Revenues are recognized when there is certainity as to measurability or collectability. Dividend Income is recognized when the right to receive the dividend is unconditional at the Balance Sheet Date. Interest Income is recognized  on the time proportion basis. Profit / Loss on sale of Investments is recognised at the time of actual sale/ redemption. The revenue Recognition Policy of the company are in confirmity with the provisions of AS 9

2.6. The Company has no other business apart from its core business of Investment and Finance. Thus segment wise information is not applicable.

2.7. Taxation

The Provision for Taxation is made at the average rate of Tax as applicable for the Income of the brvious Year as defined under the Income Tax Act, 1961

Tax expense comprises both Current Tax and Deferred Tax at the applicable enacted or substantively enacted rates. Current Tax rebrsents the amount of Income Tax payable/

recoverable in respect of taxable income/ loss for the reporting period.

Minimum Alternate Tax (MAT) paid in accordance with the tax laws, which gives future economic benefits in the form of adjustment to future income tax liability. Accordingly, MAT is recognised as an asset in the Balance Sheet.

2.9. Provisions & Contingencies

The Company makes provision against standards assets @ 0.25% as per RBI Prudential Norms. These are reviewed at each Balance Sheet date and adjusted to reflect the current best estimates. However, the provisions made against Standard Assets once created is not written back until and unless the managemnt is of the view that the provisions made are far in excess of the requirments as per prudential norms.No Contingent liability exists as on the date of the Balance Sheet.

2.10. Micro small and Medium Enterprises-The Company does not have and outstandings to any creditors as on the Balance Sheet date.

2.11. Earning Per Share

Basic & Diluted earnings per share is computed by dividing the profit / (loss) after tax by the weighted average number of equity shares outstanding during the year.

2.12. Cash and cash equivalents (for the purpose of Cash Flow Statement)

Cash comprises cash on hand and deposits with banks in current Accounts. Cash equivalents

are short-term balances (with an original maturity of three months or less from the date of  acquisition), highly liquid investments that are readily convertible into known amounts of cash and which are subject to insignificant risk of changes in value.

2.13. Cash Flow Statement

Cash flows are reported using the indirect method, whereby profit / (loss) is adjusted for the effects of transactions of non-cash nature and any deferrals or accruals of past or future cash receipts or payments.

2.14. Amalgamation Expenses are being written off over a period of 5 years.

2.15. Foreign Currency Transactions - NIL

2.16 Exceptional items of Expenditure consists of expenses incurred by the company in getting its shares listed on the Bombay Stock Exchange.

2.17. The Company has brpared these financial statements as per the format brscribed by schedule III to the Companies Act, 2013 ('the schedule') issued by Ministry of Corporate Affairs. Previous Year's Figures have been recast /restated to conform to the classification required by the Schedule.

2.18. NOTES ON NBFC

I. The Company is registered as a Non Banking Finance Company as provided in Sec.45 IA of the Reserve Bank of India Act, and the registration number of the Company is B.05.02515 .

II. Disclosures under Para 13 of Non banking Financial Companies Prudential Norms (Reserve Bank) Directions 2007 is provided in Annexure- RBI. terms of our report attached

For and on behalf of the Board of Directors

For R Bhutra & Co.

Chartered Accountants

Firm No. 320010E

Jitendra Kumar Mehta Subrata Saha

Director Director

( Vikash Chamaria )

Partner S K Singh

CP No:061966 Chief Financial Officer

Binjal Mehta

Whole Time Director

Sradha Gupta

Company Secretary

Place : Kolkata Date : 20th May, 2015