Notes to Accounts of Dune Mercantile Ltd.

Mar 31, 2015

1. Previous year figures have been re-grouped and rearranged wherever necessary for proper presentation of accounts.

2. Sundry debit and credit balances of loans and advances are subject to confirmation and Bank Balances as per reconciliation, if any. As per view precaution of actual and realizable value has been taken care of.

3. As informed to us, there are no contingent liabilities as on Balance Sheet Date.

4. Auditors Remuneration relating to audit works Rs.11,000/- is provided at the end of year.

5. As informed to us there are no estimated amounts of contracts remaining to be executed on Capital Amount.

6. The Company has not disposed off any Fixed Assets during the year.

7. As certified by the Directors all amounts in the Balance Sheet relating to Sundry Debtors, Sundry Creditors, Unsecured Loans, Deposits, Loans and advances are shown at net realizable or net payable as the case may be.

8. As certified by Company that it has received written representation from all the Directors, That Companies in which they are Directors had not defaulted in terms of section 164 (2) of the Companies Act, 2013, and that representation of Directors taken in Board that Director is disqualified from being appointed as Director of the Company.

9. Income in Foreign Currency is NIL.

10. Expenditure in Foreign Currency is NIL.

11. Number of employees who were:

(a) Employed throughout the year and were in receipt of remuneration of Rs. 60,00,000/- per annum or more are nil. (Previous Year Nil)

(b)Employed for part of the year and were in receipt of remuneration of Rs 5,00,000/ -per month or more are nil. (Previous Year Nil)

12. Particulars of licensed Capacity or Production Capacity is not applicable to the Company.

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Mar 31, 2014

1. Previous year figures have been re-grouped and rearranged wherever necessary for proper presentation of accounts.

2. Sundry debit and credit balances of loans and advances are subject to confirmation and Bank Balances as per reconciliation, if any. As per view of management the same are shown at realizable value and necessary precaution of actual and realizable value has been taken care of.

3. As informed to us, there are no contingent liabilities as on Balance Sheet Date.

4. Auditors Remuneration relating to audit work Rs.10000/ - is provided at the end of year.

5. As informed to us there are no estimated amounts of contracts remaining to be executed on Capital Amount,

6 The Company has not disposed off any Fixed Assets during the year.

7. As certified by the Directors all amounts in the Balance Sheet relating to Sundry Debtors, Sundry Creditors, Unsecured Loans, Deposits, Loans and advances are shown at net realizable or net payable as the case may be.

8. As certified by Company that it has received written representation from all the Directors" that Companies in which they are Directors had not defaulted in terms of section 274(1)(g)of the Companies Act,1956,and that representation of Directors taken in Board that no Director is disqualified from being appointed as Director of the Company.

9. Income in Foreign Currency is NIL.

10. Expenditure in Foreign Currency is NIL.

11. N umber of employees who were:

(a) Employed throughout the year and were in receipt of remuneration of Rs. 60,00,000/- per annum or more are nil. (Previous Year Nil)

(b)Employed for part of the year and were in receipt of remuneration of Rs 5,00,000/ -per month or more are nil. (Previous Year Nil)

12. Particulars of licensed Capacity or Production Capacity is not applicable to the Company.

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Mar 31, 2013

1. Previous year figures have been re-grouped and rearranged wherever necessary for proper presentation of accounts.

2. Sundry debit and credit balances of loans and advances are subject to confirmation and Bank Balances as per reconciliation, if any. As per view of management the same are shown at realizable value and necessary precaution of actual and realizable value has been taken care of.

3. As informed to us, there are no contingent liabilities as on Balance Sheet Date.

4. Auditors Remuneration relating to audit work Rs.1500/- is provided at the end of year.

5. As informed to us there are no estimated amounts of contracts remaining to be executed on Capital Amount.

6 The Company has disposed off Fixed Assets during the year.

7. As certified by the Directors all amounts in the Balance Sheet relating to Sundry Debtors, Sundry Creditors, Unsecured Loans, Deposits, Loans and advances are shown at net realizable or net payable as the case may be.

8. As certified by Company that it has received written representation from all the Directors, that Companies in which they are Directors had not defaulted in terms of section 274(1)(g) of the Companies Act,1956, and that representation of Directors taken in Board that no Director is disqualified from being appointed as Director of the Company.

9. Income in Foreign Currency is NIL.

10. Expenditure in Foreign Currency is NIL.

11. Number of employees who were:

(a) Employed throughout the year and were in receipt of remuneration of Rs. 60,00,000/- per annum or more are nil. (Previous Year Nil)

(b)Employed for part of the year and were in receipt of remuneration of Rs 5,00,000/-per month or more are nil. (Previous Year Nil)

12. No quantitative details are possible in absence of Commercial Activities during the year.

13. Particulars of licensed Capacity or Production Capacity is not applicable to the Company.

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Mar 31, 2012

1. Previous year figures have been re-grouped and rearranged wherever necessary for proper presentation of accounts.

2. Sundry debit and credit balances of loans and advances are subject to confirmation and Bank Balances as per reconciliation, if any. As per view of management the same are shown at realizable value and necessary precaution of actual and realizable value has been taken care of.

3. As informed to us, there are no contingent liabilities as on Balance Sheet Date.

4. Auditors Remuneration relating to audit works Rs.1500/- is provided at the end of year.

5. As informed to us there are no estimated amounts of contracts remaining to be executed on Capital Amount.

6 The Company has not disposed of Fixed Assets during the year.

7. As certified by the Directors all amounts in the Balance Sheet relating to Sundry Debtors, Sundry Creditors, Unsecured Loans, Deposits, Loans and advances are shown at net realizable or net payable as the case may be.

8. As certified by Company that it has received written representation from all the Directors, that Companies in which they are Directors had not defaulted in terms of section 274(1)(g) of the Companies Act,1956, and that representation of Directors taken in Board that no Director is disqualified from being appointed as Director of the Company.

9. Income in Foreign Currency is NIL.

10. Expenditure in Foreign Currency is NIL.

11. Number of employees who were:

(a) Employed throughout the year and were in receipt of remuneration of Rs. 60,00,000/- per annum or more are nil. (Previous Year Nil)

(b)Employed for part of the year and were in receipt of remuneration of Rs 5,00,000/-per month or more are nil. (Previous Year Nil)

12. No quantitative details are possible in absence of Commercial Activities during the year.

13. Particulars of licensed Capacity or Production Capacity is not applicable to the Company.

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Mar 31, 2011

B. Financial Notes

1. Contingent Liabilities not provided for NIL (Previous Year NIL).

2. Estimated amounts of contract remaining to be executed on capital Account Nil (Previous Year NIL)

3. Administrative and other expense include audit Remuneration Rs. 1500 (Previous Year Rs. 1500) paid / payable to the auditor of the Company.

4. The Company has neither paid / nor made provision for listing fee payable for the year, to the stock exchanges where the shares of the Company are listed.

5. Previous years' figures have been regrouped / rearrange wherever necessary to confirm to current years classification.