Notes to Accounts of Anand Credit Ltd.

Mar 31, 2012

1.1 Previous year''s figures have been regrouped, reclassified, restated or recasted wherever necessary to make them comparable with current year''s figure or for proper presentation.

1.2 Balance of Sundry creditors, debtors, loans and advances are subject to confirmation.

1.3 We are unable to categories the dues to small scale Industries (SSI) separately due to lack of information regard to the status of the creditors for goods outstanding as on the balance sheet date.

1.4 Schedule " 1 to 14" forms the integral part of the Balance sheet as at 31st March 2012 and Profit & Loss Account for the year ended on that date.

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Mar 31, 2010

1. AUDITORS REMUNERATION:

Audit Fees 2008-09 2009-10

7500 7500

2. Additional information pursuant to provisions of paragraphs 4C, 3 and 4D of part II of Schedule VI to the companies Act 1956 (Information given to the extant applicable)

a. Licensed capacity Not Applicable

b. Installed capacity Not Applicable

c. Quantitative particulars Not Applicable

d. Value of good imported on CIF NIL NIL

e. Value of export calculated on FOB value NIL NIL

f Value of other earning in Foreign exchange NIL NIL

3 Expenditure incurred on employees who are in remuneration on the aggregate of noto Rs. 24,00,000/- per annum if employed throughout of Rs. 200,000/- per month if employed for part receipt of less than the year and of the year.

- No. of Employees NIL NIL

-Amount paid NIL NIL

4. Balance of sundry creditors, debitors, loans and advances are subjects to confirmation.

5. The audit has been carried out of the basis of the fresh computerised output reconciled.

6. In the opinion of the Board of Directors, Current Assets, Loans & Advances are realisable in the ordinary course of business, at the value at which they are stated.

7. Schedule- "1 to 15" forms the integral part of the Balance Sheet as at 31st March. 2010 and the Profit & Loss Account for the year ended on that date.

8. We are unable to categories the dues to small Scale Industries (SSI) separately due to lack of information regard to the status of the creditors for goods outstanding as on the balance sheet date.

9. SEMENTATION REPORTING:

During the year company has carried on the business of Finance and Real estate, the disclosure of segment information in pursuance to accounting standard No. 17 issued by the Institute of Chartered Accountants India is as of under:

Previous years figures are given in bracket.

(B) becondary begment Reporting (Geographical segment):

Secondary segment reporting is performed on the basis of Geographical location. The Company sales are entirely domestic and indigenous and no distinguishable component exist. Hence the company has no secondary geographical segment.

10. RELATED PARTY DISCLOSURES :

During the year there are no transaction with related party.

11. ACCOUNTING FOR TAXES OF INCOME :

a. Provision for current tax is made on the basis of the amount of tax payable on taxable income for the year in accordance with the Income tax Act, 1961.

b. The Company has got unabsorbed depreciation and carry forward losses under tax laws and there is not virtual certainty supported by convincing evidence that sufficient future taxable income will be available against which such deferred tax asset can be realised and therefore there is no requirement for any adjustment of taxes on income/loss.

12. We have verified the vouchers and documentary evidences wherever made available. Where no documentary evidences were available, we relied on the authentication given by the management.

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Mar 31, 2009

I. AUDITORS REMUNERATION : 2008-09 2007-08

Audit Fees 7500 7500

2. Additional information pursuant to provisions of paragraphs 4C, 3 and 4D of part II of Schedule VI to the companies Act 1956 (Information given to the extant applicable)

a. Licensed Capacity ---- Not Applicable ---

b. Installed Capacity ---- Not Applicable ---

c. Quantitative particulars ---- Not Applicable —

d. Value of good inported on CIF NIL nil

e. Value of export calculated on

FOB value NIL NIL

f. Value of other earining in

Foreign exchange NIL NIL

3. Expenditure incurred on employees who are in receipt of remuneration on the aggregate of noto less than Rs,24,00,000/-per annum if employed throughout the year and of Rs. 200,000/- per month if employed for part of the year.

No.of Employees. NIL NIL

Amount paid Nil Nil

4. Balance of Sundry creditors, debitors, loans and advances are subjects to confirmation.

5. The audit has been carried out of the basis of the fresh computerised output reconciled.

b. In the opinion of the Board of Directors, Current Assots. Loans & Advances are realisable in the ordinary course .

6. Schedule "1 to 15" forms the integral part of the Balance Sheet as at 31st March 2009 and the Profit a. Loss Account for the year ended on that date.

7. We are unable to categories the dues to small Scale Industries (SSI; seperately due to lack of information regard to the status of the creditors for goods outstanding as on the balance sheet date.

8. SEGMENTATION REPORTING :

The company is dealing in singly segment i.e.. Finance activities hence the ,segmentation reporting in pursuance to accounting standard No."17 issued by institute of Chartered

Accountants of India not made.

9. RELATED PARTY DISCLOSURES :

During the year the company entered into transaction with the relating parties. Those transactions along with related balances as at 31st March,2009 and for the year then ended are presented in the following table

List of related parties with whom transactions have taken place during the year along with nature and volume of transactions.

a. Anand Finstock Services Ltd.

b. Zeel Corporation

c. Anand Property Finance Ltd.

d. Hemendra L. Shah

10. ACCOUNTING FOR TAXES OF INCOME.

a. Provision for curent tax is made on the basis of the amount of tax payable on taxable income for the ye&r in accordance win the Income tax Act, 1961.

b. The company has got unabsorbed depreciation and carry forward losses under tax laws and there is not virtual certainty supported by convincing evidence that sufficient future taxable income will be available against which! such deferred tax asset can be realised and therefore there is no reguirement for any adjustment of taxes on income/loss.

11, We have verified the vouchers and documentary evidences wherever made availabel. Where no documentary evidences were available, we relied on the authentication given by the management.