Note 1 - Significant Accounting Policies

a) Basis of brparation of Financial Statements

The Financial Statements of the Company has 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 2013 Act") / Companies Act, 1956 ("the 1956 Act") as applicable & the Regulations as applicable to the Non Banking Finance Companies, issued by the RBI.

b) Use of estimates

The brparation of financial statements in conformity with generally accepted accounting principles requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent liabilities at the date of the financial statements and the results of operations during the reporting period. Although these estimates are based upon management's best knowledge of current events and actions, actual results could differ from these estimates.

c) Fixed Assets

Fixed Assets are stated at cost less accumulated debrciation. Cost comprises of purchase price and other attributable costs , if any , in bringing the assets to its working condition for its intended use.

d) Debrciation

(I) Debrciation is provided for on Written Down Value method based on useful life of the assets as specified in Part C of Schedule II of the Companies Act,2013

(ii) In respect of addition of assets during the year, debrciation have been provided on pro-rata basis

e) Revenue Recognition

i) The company accounts for income and expenditure on accrual basis except otherwise stated.

ii) Finance Charges in respect of Hire Purchase, Vehicle loan & Hypothecation transactions are apportioned over the period of agreement by Internal Rate of Return basis.

iii) The company has followed the Prudential norms brscribed by the Reserve Bank of India for Non-Banking Financial Companies.

iv) Interest on overdue Lease rentals, loans and hire purchase instalments accounted for on receipt basis.

f) Investments:

Investments in Shares and Debentures are stated at cost. However, any decline in the value of such investments which in the opinion of the management, is not temporary, is provided for.

g) Taxation

Provision for taxation comprises of the current tax provision, and the net change in the deferred tax asset or liability during the year. Provision for deferred tax is made on the timing diferrences arising between the taxable income and accouting income computed using the tax rates and laws that has been enacted or substantively enacted as of the balance sheet date.

h) Provisions

A provision is recognised when an enterprise has a brsent obligation as a result of past event 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 its brsent value and are determined based on best estimate required to settle the obligation at the balance sheet date. These are reviewed at each balance sheet date and adjusted to reflect the current best estimates.

i) Contingent Liabilities and Contingent Assets

Contingent liabilities and contingent assets are not recognized in the financial statements. j) Earnings per share

Basic earnings per share are calculated by dividing the net profit or loss for the period attributable to equity shareholders by the weighted average number of equity shares outstanding during the period.

Earning per share, both basic and diluted, are calculated in accordance with the Accounting Standard - 20 issued by the Institute of Chartered Accountants of India. k) Disclosure requirement regarding Micro, Small & Medium Scale Enterprises

The company has not received any intimation from suppliers regarding their status under the Micro, Small and Medium Enterprises Development Act,2006 and hence, disclosure, if any , relating to amount unpaid at the year end together with interest paid/ payable as required under the said Act have not been given.

Note 1

In accordance with the Accounting Standard 22(Accounting for taxes on income) issued by the Institute of Chartered Accountants of India,the deferred tax liability/ assets as the case may be as at 31st March,2015 has been changed to/reversed back in the Profit & Loss Account. In Current year provision has been made on account of timing difference of debrciation on Assets

As per our report of even date attached

For CHANDARANA AND SANKLECHA

Chartered Accountants

Firm No. 000557S

For and on behalf of the Board of Directors

Bharat Raj Sanklecha J. Ashok Galada Naveen Galada Alpa Jain K.R.Manimeghala

Proprietor Managing Director Director Company Chief Financial

Membership No. 27539 DIN : 00042295 DIN: 00043054 Secretary Officer

Place : Chennai

Date : 30.05.2015