Notes to Accounts of AGS Infotech Ltd.

Mar 31, 2011

1. Additional Information required under Paragraph 3 and 4D of Part II of Schedule VI of Companies Act, 1956-NOT APPLICABLE.

2. Earnings in Foreign Exchange during the year Rs.Nil (previous year – 98,58,252).Expenditure in foreign currency- Nil.

3. Loans availed from Bank is charged against fixed asset and current asset of the company, additional collateral provided and carries the personal guarantee of promoter Directors.

4. No employee has been paid remuneration in excess of Rs.24,00,000/- per annum or Rs.2,00,000/- per month.

5. Balance standing to the debit/credit of parties are subject to confirmation by them.

6. As per requirements of Accounting Standard (AS22)-"Accounting for taxes of Income" issued by the Institute of Chartered Accountants of India in absence of virtual certainty of sufficient future taxable income, the company, in the books of accounts has not been recognized the deferred tax in respect of unabsorbed depreciation and accumulated losses under the Income tax laws.

7. The Amounts payable to Small Scale Industrial Undertaking in excess of Rs.1,00,000/- is NIL.

8. Previous year figures have been re-grouped/re-arranged / re-classified wherever necessary to confirm to the classification adopted for the current year.

9. Figures have been rounded off to the nearest rupee.

10. Operation of the Company current is in single segment and as such separate segment details are not available.

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Mar 31, 2010

1. Additional Information required under Paragraph 3 and 4D of Part II of Schedule VI of Companies Act, 1956-NOT APPLICABLE.

2. Earnings in Foreign Exchange during the year Rs.98,58,252 (previous year - Nil).Expenditure in foreign currency- Nil.

3. Loans availed from Bank is charged against fixed asset and current asset of the company, additional collateral provided and carries the personal guarantee of promoter Directors.

4. No employee has been paid remuneration in excess of Rs.24,00,000/- per annum or Rs.2,00,000/- per month.

5. Balance standing to the debit/credit of parties are subject to confirmation by them.

6. As per requirements of Accounting Standard (AS22)-"Accounting for taxes of Income" issued by the Institute of Chartered Accountants of India in absence of virtual certainty of sufficient future taxable income, the company, in the books of accounts has not been recognized the deferred tax in respect of unabsorbed depreciation and accumulated losses under the Income tax laws.

7. The Amounts payable to Small Scale Industrial Undertaking in excess of Rs.1,00,000/- is NIL.

8. Previous year figures have been re-grouped/re-arranged / re-classified wherever necessary to confirm to the classification adopted for the current year.

9. Figures have been rounded off to the nearest rupee.

10. Operation of the Company current is in single segment and as such separate segment details are not available.

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Mar 31, 2009

1 During the year, earnings and expenditure in foreign currency is NIL.

2 During the year, remuneration to Directors is NIL.

3 Auditor's remuneration as at 31-03-2009 is Rs.100000/-.

4 None of the employees have been paid remuneration exceeding Rs.24,00,000/- per annum or Rs.2,00,000/- per month.

5 Balances standing to the debit/credit of parties are subject to confirmation by them.

6 As per requirements of Accounting Standard (AS22) "Accounting for taxes on Income" issued by the Institute of Chartered Accountants of India in absence of virtual certainty of sufficient future taxable income, the company, in the books of account has not recognised the net deferred tax in respect of unabsorbed depreciation and accumulated losses under Income tax laws.

7 The advances and deposits include an amount of Rs.326.00 lakhs advanced during the tenure of previous management, which are subject to confirmation.

8 The amount payable to Small Scale Industrial Undertaking in excess of Rs.1,00,000/- is NIL.

9 Previous year figures are re-grouped / re-arranged / re-classified wherever necessary to confirm to the classification adopted for the current year.

10 Figures have been rounded off to the nearest rupee.

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Mar 31, 2007

1 During the year, earnings and expenditure in foreign currency is NIL.

2 During the year, remuneration to Directors is NIL.

3 Auditor's remuneration as at 31-03-2007 is Rs.5,000/-.

4 None of the employees have been paid remuneration exceeding Rs.24,00,000/- per annum or Rs.2,00,000/- per month.

5 Balances standing to the debit/credit of parties are subject to confirmation by them.

6 As per requirements of Accounting Standard (AS22)- "Accounting for taxes on Income" issued by the Institute of Chartered Accountants of India in absence of virtual certainty of sufficient future taxable income, the company, in the books of account has not recognised the net deferred tax in respect of unabsorbed depreciation and accumulated losses under Income tax laws.

7 The advances and deposits include an amount of Rs.326.00 lakhs advanced during the tenure of previous management, which are subject to confirmation.

8 The amount payable to Small Scale Industrial Undertaking in excess of Rs.1,00,000/- is NIL.

9 Previous year figures are re-grouped / re -arranged / re -classified wherever necessary to confirm to the classification adopted for the current year.

10 Figures have been rounded off to the nearest rupee.