Notes to Accounts of Excel Realty N Infra Ltd.

Mar 31, 2025

Note No 11.2: Terms/rights attached to equity shares

(A) In the event of liquidation of the company, the holders of equity shares will be entitled to receive remaining assets of the company, after distribution of all preferential amounts. The distribution will be in proportion to the number of equity shares held by the shareholders.

Note No 11.3: Aggregate number of bonus shares issued and sub-division of shares during the period of five years immediately preceding the reporting date :

During the preceding five years the Company has done Sub-Division of shares. The Company has sub-divided 10 Equity Shares for every 1 Share held in the year 2022-23.

The fair value of the assets and liabilities are included at the amount at which the instrument could be exchanged

in a current transaction between willing parties, other than in forced or liquidation sale.

The following methods and assumptions were used to estimate the fair value:

1. Fair value of cash and short-term deposits, trade and other short term receivables, trade payables, other current liabilties, short term loans from banks and other financial instruments approximate their carrying amounts largely due to the short term maturities of these instruments.

2. Financial instruments with fixed and variable interest rates are evaluted by the company based on parametes such as interest rate and individual credit worthiness of the counterparty. Based on this evaluation, allowance are taken to the account for the expected losses of these receivables.

The company uses the following hierarchy for determining and disclosing the fair value of financial instruments by valuation technique:

Level 1 : Quoted (unadjusted) prices in active markets for identical assets or liabilities

Level 2 : other techniques for which all inuts which have a significant effect on the recorded fair value are

observable,either directly or indirectly.

Level 3 : techniques which use inputs that have a significant effect on the recorded fair value that are not based on observable market data.

(a) The management has not disclosed the fair values for financial instruments because their carrying values approximate their fair value largely due to the short-term maturities of these instruments

(b) Fair valuation of non-current financial instruments has been disclosed to be same as carrying value as there is no significant difference between carrying value and fair value as the carrying value is based on effective interest rates.

The Company has exposure to the following risks arising from financial instruments :

- Credit risk

- Liquidity risk

- Market risk

- Interest risk

Risk management framework

The Company''s management has overall responsibility for the establishment and oversight of the Company''s risk management framework.

The Company conduct yearly risk assessment activities to identify and analyse the risks faced by the Company, to set appropriate risk limits and controls and to monitor risks and adherence to limits. Risk management systems are reviewed regularly to reflect changes in market conditions and the Company''s activities. The Company, through its training and management standards and procedures, aims to maintain a disciplined and constructive control environment in which all employees understand their roles and obligations.

The Company has a system in place to ensure risk identification and ongoing periodic risk assessment is carried out. The Board of directors periodically monitors the risk assessment.

(i) Credit risk

Credit risk is the risk that counterparty will not meet its obligation under a financial instrument or customer contract,leading to a financial loss. The company is exposed to credit risk from its operating activities and from its financing activities, including deposits with banks and financial institutions, foreign exchange transactions and other financial instruments. The company generally doesn''t have collateral.

Trade receivables

The Company''s exposure to credit risk is influenced mainly by the individual characteristics of each customer. However, management also considers the factors that may influence the credit risk of its customer base, including the default risk associated with the industry and country in which customers operate.

Trade receivables

Customer credit risk is managed as per Company''s established policy, procedures and control relating to customer credit risk management. Credit risk has always been managed by the Company through credit approvals, estabilishing credit limits and continuously monitoring the credit worthiness of customers to which the Company grants credit terms in the normal course of business.

An impairment analysis is performed for all major customers at each reporting date on an individual basis. In addition, a large number of minor receivables are grouped into homogenous group and assessed for impairment collectively. The calculation is based on historical data. The maximum exposure to credit risk at the reporting date is the carrying value of each class of financial assets. The company evaluates the concentration of risk with respect to trade receivables as low, as its customers are located in several industries and operate in largely independent markets.

Bank balances and deposits with banks

Credit risk from balances with banks is managed by the company''s finance department as per Company''s policy. Investment of surplus funds are made only with approved counterparties and within credit limits assigned to each counterparty. Counterparty credit limits are reviewed by the Company''s Board of Directors on an annual basis, and may be updated throughout the year subject to approval of the Company''s Board of directors. The limits are set to minimise the concentration of risks and therefore mitigate financial loss through counterparty''s potential failure to make payments.

(ii) Liquidity risk

Liquidity risk is the risk that the Company will encounter difficulty in meeting the obligations associated with its financial liabilities that are settled by delivering cash or another financial asset. The Company''s approach to managing liquidity is to ensure, as far as possible, that it will have sufficient liquidity to meet its liabilities when they are due, under both normal and stressed conditions, without incurring unacceptable losses or risking damage to the Company''s reputation.

Exposure to liquidity risk

The following are the remaining contractual maturities of financial liabilities at the reporting date. The amounts are gross and undiscounted, and include estimated interest payments and exclude the impact of netting agreements.

(iii) Market risk

Market risk is the risk of loss of future earnings, fair value or future cash flows arising out of change in the price of a financial instrument. These include change as a result of changes in the interest rates, foreign currency exchange rates, equity prices and other market changes that affect market risk sensitive instruments. Market risk is attributable to all market risk sensitive financial instruments including investments and deposits, foreign currency receivables, payables and loans and borrowing.

The company manages market risk through a risk management committee engaged in, inter alia, evaluation and identification of risk factors with the object of governing/mitigation them accordingly to company''s objectives and declared policies in specific context of impact thereof on various segments of financial instruments.

Currency risk

The Company is exposed to currency risk to the extent that there is mismatch between the currencies in which sales, purchase are denominated and the respective functional currencies of Company. The Company has export sales primarily denominated in US dollars.

C.iv.b Interest rate risk

Interest rate risk is the risk that the fair value or future cash flows of a financial instrument will fluctuate because of changes in market interest rates. The entity''s exposure to the risk of changes in market interest rates relates primarily to the Company''s long-term debt obligations with floating interest rates.

30 Capital management

The Company''s policy is to maintain a stable and strong capital structure with a focus on total equity so as to maintain investors, creditors and market confidence and to sustain future development and growth of its business. In order to maintain the capital structure, the Company monitors the return on capital, as well as the level of dividends to equity shareholders. The Company aims to manage its capital efficiently so as to safeguard its ability to continue as a going concern and to optimise returns to all its shareholders.

31 Investment in properties consist of advances paid for acquisition of Immovable property, their carrying values has been considered as fair values. No impairment provisions have been made there upon.

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Mar 31, 2024

Note No 11.2: Terms/rights attached to equity shares

(B) In the event of liquidation of the company, the holders of equity shares will be entitled to receive remaining assets of the company, after distribution of all preferential amounts. The distribution will be in proportion to the number of equity shares held by the shareholders.

Note No 11.3: Aggregate number of bonus shares issued and sub-division of shares during the period of five years immediately preceding the reporting date :

During the preceding five years the Company has done Sub-Division of shares. The Company has sub-divided 10 Equity Shares for every 1 Share held in the year 2022-23.

The fair value of the assets and liabilities are included at the amount at which the instrument could be exchanged in a current transaction between

willing parties, other than in forced or liquidation sale.

The following methods and assumptions were used to estimate the fair value:

1. Fair value of cash and short-term deposits, trade and other short term receivables, trade payables, other current liabilties, short term loans from banks and other financial instruments approximate their carrying amounts largely due to the short term maturities of these instruments.

2. Financial instruments with fixed and variable interest rates are evaluted by the company based on parametes such as interest rate and individual credit worthiness of the counterparty. Based on this evaluation, allowance are taken to the account for the expected losses of these receivables.

The company uses the following hierarchy for determining and disclosing the fair value of financial instruments by valuation technique:

Level 1 : Quoted (unadjusted) prices in active markets for identical assets or liabilities

Level 2 : other techniques for which all inuts which have a significant effect on the recorded fair value are observable, either directly or indirectly.

Level 3 : techniques which use inputs that have a significant effect on the recorded fair value that are not based on observable market data.

(a) The management has not disclosed the fair values for financial instruments because their carrying values approximate their fair value largely due to the short-term maturities of these instruments "

(b) Fair valuation of non-current financial instruments has been disclosed to be same as carrying value as there is no significant difference between carrying value and fair value as the carrying value is based on effective interest rates."

The Company has exposure to the following risks arising from financial instruments :

- Credit risk

- Liquidity risk

- Market risk

- Interest risk

Risk management framework

The Company''s management has overall responsibility for the establishment and oversight of the Company''s risk management framework.

The Company conduct yearly risk assessment activities to identify and analyse the risks faced by the Company, to set appropriate risk limits and controls and to monitor risks and adherence to limits. Risk management systems are reviewed regularly to reflect changes in market conditions and the Company''s activities. The Company, through its training and management standards and procedures, aims to maintain a disciplined and constructive control environment in which all employees understand their roles and obligations.

The Company has a system in place to ensure risk identification and ongoing periodic risk assessment is carried out. The Board of directors periodically monitors the risk assessment.

(i) Credit risk

Credit risk is the risk that counter party will not meet its obligation under a financial instrument or customer contract, leading to a financial loss. The company is exposed to credit risk from its operating activities and from its financing activities, including deposits with banks and financial institutions, foreign exchange transactions and other financial instruments. The company generally doesn’t have collateral.

The carrying amounts of financial assets represent the maximum credit risk exposure. The maximum exposure to credit risk at the reporting date was:

Trade receivables

The Company''s exposure to credit risk is influenced mainly by the individual characteristics of each customer. However, management also considers the factors that may influence the credit risk of its customer base, including the default risk associated with the industry and country in which customers operate.

Trade receivables

Customer credit risk is managed as per Company''s established policy, procedures and control relating to customer credit risk management. Credit risk has always been managed by the Company through credit approvals, estabilishing credit limits and continuously monitoring the credit worthiness of customers to which the Company grants credit terms in the normal course of business.

An impairment analysis is performed for all major customers at each reporting date on an individual basis. In addition, a large number of minor receivables are grouped into homogenous group and assessed for impairment collectively. The calculation is based on historical data. The maximum exposure to credit risk at the reporting date is the carrying value of each class of financial assets. The company evaluates the concentration of risk with respect to trade receivables as low, as its customers are located in several industries and operate in largely independent markets.

Bank balances and deposits with banks

Credit risk from balances with banks is managed by the company’s finance department as per Company’s policy. Investment of surplus funds are made only with approved counter parties and within credit limits assigned to each counter party. Counter party credit limits are reviewed by the Company’s Board of Directors on an annual basis, and may be updated throughout the year subject to approval of the Company''s Board of directors. The limits are set to minimise the concentration of risks and therefore mitigate financial loss through counterparty''s potential failure to make payments.

(ii) Liquidity risk

Liquidity risk is the risk that the Company will encounter difficulty in meeting the obligations associated with its financial liabilities that are settled by delivering cash or another financial asset. The Company''s approach to managing liquidity is to ensure, as far as possible, that it will have sufficient liquidity to meet its liabilities when they are due, under both normal and stressed conditions, without incurring unacceptable losses or risking damage to the Company''s reputation.

Exposure to liquidity risk

The following are the remaining contractual maturities of financial liabilities at the reporting date. The amounts are gross and undiscounted, and include estimated interest payments and exclude the impact of netting agreements.

(iii) Market risk

Market risk is the risk of loss of future earnings, fair value or future cash flows arising out of change in the price of a financial instrument. These include change as a result of changes in the interest rates, foreign currency exchange rates, equity prices and other market changes that affect market risk sensitive instruments. Market risk is attributable to all market risk sensitive financial instruments including investments and deposits, foreign currency receivables, payables and loans and borrowing.

The company manages market risk through a risk management committee engaged in, inter alia, evaluation and identification of risk factors with the object of governing/mitigation them accordingly to company’s objectives and declared policies in specific context of impact thereof on various segments of financial instruments.

Currency risk

The Company is exposed to currency risk to the extent that there is mismatch between the currencies in which sales, purchase are denominated and the respective functional currencies of Company. The Company has export sales primarily denominated in US dollars.

C.iv.b Interest rate risk

Interest rate risk is the risk that the fair value or future cash flows of a financial instrument will fluctuate because of changes in market interest rates. The entity''s exposure to the risk of changes in market interest rates relates primarily to the Company''s long-term debt obligations with floating interest rates.

30 Capital management

The Company''s policy is to maintain a stable and strong capital structure with a focus on total equity so as to maintain investors, creditors and market confidence and to sustain future development and growth of its business. In order to maintain the capital structure, the Company monitors the return on capital, as well as the level of dividends to equity shareholders. The Company aims to manage its capital efficiently so as to safeguard its ability to continue as a going concern and to optimise returns to all its shareholders.

31 Investment in properties consist of advances paid for acquisition of Immovable property, their carrying values has been considered as fair values. No impairment provisions have been made there upon.

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Mar 31, 2016

1. Segment reporting

2 Identification of segments

The Company''s operating businesses are organized and managed separately according to the nature of business and services provided, with each segment representing a strategic business unit.

3. Allocation of common costs

Common allocable costs are allocated to each segment according to the relative contribution of each segment to the total common costs.

4. Unallocated items

Unallocated items include general corporate income and expense items which are not allocated to any business segment.

5. Segment accounting policies

The Company prepares its segment information in conformity with the accounting policies adopted for preparing and presenting the financial statements of the Company as a whole.

6. Certain Balance in loans & advances & Debtors accounts are subjected to confirmation/ reconciliation.

7. In the opinion of Board of Director of the Company current assets, loans & advances are of approximately the value stated, if realized in ordinary course of business.

8. Previous year’s figures have been regrouped/reclassified wherever necessary to correspond with the current year’s classification/ disclosure.

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Mar 31, 2015

1. Corporate information

Excel Realty N Infra Limited [formerly known as Excel Infoways Ltd.) (the Company) is a public company domiciled in India and incorporated under the provisions of the Companies Act, 1956. Its equity shares are listed on National Stock Exchange and Bombay Stock Exchange in India shares are listed on two stock exchanges in India. The company is engaged in the IT enabled BPO Services and development of infrastructure facility.

2. Basis of preparation

These financial statements have been prepared 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 financial statements have been prepared under the historical cost convention on accrual basis. The accounting policies adopted in the presentation of the financial statements are consistent with those followed in the previous year.

2.1 The Company makes Provident Fund Contribution to defined contribution retirement benefit plans for qualifying employees. Under the schemes, the Company is required to contribute a specified percentage of the payroll costs to fund the benefits. In case of Provident Fund, the contributions specified under the law are paid to the Provident Fund set up to the respective Regional Provident Fund Commissioner.

3. Segment reporting

3.1 Identification of segments

The Company's operating businesses are organized and managed separately according to the nature of business and services provided, with each segment representing a strategic business unit.

3.2 Allocation of common costs

Common allocable costs are allocated to each segment according to the relative contribution of each segment to the total common costs.

3.3 Unallocated items

Unallocated items include general corporate income and expense items which are not allocated to any business segment.

3.4 Segment accounting policies

The Company prepares its segment information in conformity with the accounting policies adopted for preparing and presenting the financial statements of the Company as a whole.

4. Contingent Liability

Guarantee to Custom Department 474.74 474.74

5. Certain Balance in loans & advances & Debtors accounts are subjected to confirmation/ reconciliation.

6. In the opinion of Board of Director of the Company current assets, loans & advances are of approximately the value stated, if realized in ordinary course of business.

7. Previous year's figures have been regrouped/reclassified wherever necessary to correspond with the current year's classification/ disclosure.

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Mar 31, 2014

1. Share Capital

Rights, preferences and restrictions attached to shares

The Company has one class of equity shares having a par value of Rs. 10 each. Each shareholder is eligible for one vote per share held.

2. Long-term borrowings

(i) Term loan from banks is taken for business expansion in the month of July 2012 against mortgage of office premises for a period of sixty months at an interest rate of 14.00% p.a (Base rate 3.75%)(previous year 13.75%). Loan amounting to Rs. 11,800 thousand was repaid during the year and the loan was rescheduled. The monthly installment reduced from Rs. 763.58 thousand to Rs. 341.68 thousand.

(ii) Term loan from others is taken for business expansion against residential bungalow and pledge of shares held by directors, in the month of August 2013 amounting to Rs. 45,200 thousand at interest rate 14.25% p.a. for a period of 156 month having EMI of Rs. 637.89 thousand.

3. Details of dues to Micro and Small Enterprises under the MSMED Act, 2006

As per information available with the Company, there are no Micro, Small and Medium Enterprises, as defined in the Micro, Small and Medium Enterprises Development Act 2006, to whom the Company owes dues on account of principle or interest. The above information regarding Micro, Small and Medium Enterprises has been determined to the extent such parties have been defined on the basis of information available with the Company. This has been relied upon by the auditors.

4. Short Term Borrowings

(a) Loan taken from banks for Financial Year 2012-13 was bank overdraft for working capital requirement secured against mortgage of residential bungalow and pledge of shares held by directors and has been repaid.

(b) Secured loan from others is secured against pledge of shares held by directors for a period of 180 days which can be renewed and is payable on demand. The loan is @18% interest p.a.

5. Employee benefits expense

The Company makes Provident Fund Contribution to defined contribution retirement benefit plans for qualifying employees. Under the schemes, the Company is required to contribute a specified percentage of the payroll costs to fund the benefits. In case of Provident Fund, the contributions specified under the law are paid to the Provident Fund set up to the respective Regional Provident Fund Commissioner.

6. Particulars of subsidiaries and associate

a) Associates/Subsidiaries

1. Ranjana Construction Private Limited

2. Tista Impex Private Limited

3. Ritz Shopping Mall Private Limited

4. Excel Infra N Realty Private Limited (formerly known as Paramsatya Construction Private Limited)

5. Raj HR Solutation Private Limited

6. Lakhmendra Khurana & Sons (H.U.F.)

7. Excel Info FZE (UAE)

b) Key Management Personnel

1. Lakhmendra Khurana Chairman and Managing Director

2. Ranjana Khurana Executive Director

3. Arpit Khurana Executive Director

4. Ravi Prakash Sinha Independent & Non-Executive Director

5. Binoy Gupta Independent & Non-Executive Director

6. Ramesh Joshi Independent & Non-Executive Director

7. Kumud H Waradkar Company Secretary

8. Monika Shah Chief Financial Officer

7. Segment reporting

7.1 Identification of segments

The Company''s operating businesses are organized and managed separately according to the nature of business and services provided, with each segment representing a strategic business unit.

7.2 Allocation of common costs

Common allocable costs are allocated to each segment according to the relative contribution of each segment to the total common costs.

7.3 Unallocated items

Unallocated items include general corporate income and expense items which are not allocated to any business segment.

7.4 Segment accounting policies

The Company prepares its segment information in conformity with the accounting policies adopted for preparing and presenting the financial statements of the Company as a whole.

8. Certain Balance in loans & advances & Debtors accounts are subjected to confirmation/reconciliation.

9. In the opinion of Board of Director of the Company current assets, loans & advances are of approximately the value stated, if realized in ordinary course of business.

10. These financial statements have been prepared in the format prescribed by the Revised Schedule VI to the Companies Act, 1956.

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Mar 31, 2013

1. Corporate information

Excel Infoways Limited (the Company) is a public company domiciled in India and incorporated under the provisions of the Companies Act, 1956. Its shares are listed on two stock exchanges in India. The Company is engaged in the IT enabled BPO Services and development of infrastructure facility.

2. Basis of preparation

The financial statements of the Company have been prepared in accordance with generally accepted accounting principles in India (Indian GAAP). The Company has prepared these financial statements to comply in all material respects with the accounting standards notified under the Companies (Accounting Standards) Rules, 2006, (as amended) and the relevant provisions of the Companies Act, 1956. The financial statements have been prepared on an accrual basis and under the historical cost convention.

3.1 - Payment to auditors for current year is exclusive of service tax.

3.2 - Bank Charges were included in Miscellaneous expenses for previous year.

3.3 - Prior Period Items comprises short provision of Income tax of earlier years Rs. 644.70 thousand (Previous Year Rs. 875.23 thousand).

3.4 - Miscellaneous Expenses includes Misc. Expenditure W/off Rs. 8,509.17 thousand (Previous Year Rs. 8,700.00 thousand).

4. Segment reporting

4.1 Identification of segments

The Company''s operating businesses are organized and managed separately according to the nature of business and services provided, with each segment representing a strategic business unit.

4.2 Allocation of common costs

Common allocable costs are allocated to each segment according to the relative contribution of each segment to the total common costs.

4.3 Unallocated items

Unallocated items include general corporate income and expense items which are not allocated to any business segment.

4.4 Segment accounting policies

The Company prepares its segment information in conformity with the accounting policies adopted for preparing and presenting the financial statements of the Company as a whole.

5. Certain balance in loans & advances and Debtors accounts are subjected to confirmation/reconciliation.

6. In the opinion of Board of Director of the Company current assets, loans & advances are of approximately the value stated, if realized in ordinary course of business.

7. These financial statements have been prepared in the format prescribed by the Revised Schedule VI to the Companies Act, 1956.

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Mar 31, 2012

1. Corporate information

Excel Infoways Limited (the Company) is a public company domiciled in India and incorporated under the provisions of the Companies Act, 1956. Its shares are listed on two stock exchanges in India. The Company is engaged in the IT enabled BPO Services and development of infrastructure facility.

2. Basis of preparation

The financial statements of the Company have been prepared in accordance with generally accepted accounting principles in India (Indian GAAP). The Company has prepared these financial statements to comply in all material respects with the accounting standards notified under the Companies (Accounting Standards) Rules, 2006, (as amended) and the relevant provisions of the Companies Act, 1956 and guidelines issued by SEBI. The financial statements have been prepared on an accrual basis and under the historical cost convention.

The' accounting policies adopted in the preparation of financial statements are consistent with those of previous year, except for the change in accounting policy explained below.

3.1 Rights, preferences and restrictions attached to shares

The Company has one class of equity shares having a par value of Rs 10 each. Each shareholder is eligible for one vote per share held.

4.1 - The Company makes Provident Fund to defined contribution retirement benefit plans for qualifying employees.

Under the schemes, the Company are required to contribute a specified percentage of the payroll costs to fund the benefits. In case of Provident Fund, the contributions specified under the law are paid to the Provident Fund set up to the respective Regional Provident Fund Commissioner.

5.1 - Prior Period Items comprises short provision of Income tax of earlier years Rs 875.23 thousands ( Previous year Rs 12.66 thousands).

5.2- Miscellaneous Expenses includes Misc. Expenditure W/off Rs 8700 thousands (Previous Year Rs 7762.70 thousands).

6.1 Acquisitions I Disinvestments

On 18.11.2011, the company has sold 25000 shares of Excel Infra N Realty Pvt. Ltd and hence M/s Excel Infra N Realty Pvt. Ltd is no more subsidiary of Excel Info ways Ltd.

7. Segment reporting

7.1 Identification of segments

The Company's operating businesses are organized and managed separately according to the nature of business and services provided, with each segment representing a strategic business unit.

7.2 Allocation of common costs

Common allocable costs are allocated to each segment according to the relative contribution of each segment to the total common costs.

7.3 Unallocated items

Unallocated items include general corporate income and expense items which are not allocated to any business segment.

7.4 Segment accounting policies

The Company prepares its segment information in conformity with the accounting policies adopted for preparing and presenting the financial statements of the company as a whole.

8. Contingent Liability

Guarantee to Custom Department 474.74 313.00

9. Certain balance in loans & advances & Debtors accounts are subjected to confirmation/reconciliation.

10. In the opinion of Board of Directors of the Company current assets, loans & advances are of approximately the value stated, if realized in ordinary course of business.

11. These financial statements have been prepared in the format prescribed by the Revised Schedule VI to the Companies Act 1956. Previous period figures have been recanted / restated to conform to the classification of the current period.

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Mar 31, 2011

1) The identification of Micro, Small & Medium Suppliers is based on Management's knowledge of their status. There are no dues to Micro, Small & Medium Enterprise Supplier as on 31.03.2011 (March 31, 2010 Rs. Nil)

2) As per the information given by the management the company has only one reportable business segment as defined under AS 17 – "Segmenting Reporting" issued by Institute of Chartered Accountants of India, hence segment wise information is not relevant.

3) Related Party Disclosure

As per Accounting Standard – 18, issued by the ICAI, the Company's related parties and transactions with them are as under.

a) Associates/Subsidiaries

1. Ranjana Construction Ltd.

2. Tista Impex Pvt. Ltd.

3. Ritz Shopping Mall Pvt. Ltd.

4. Excel Infra N Realty Pvt. Ltd (formerly known as Paramsatya Construction Pvt. Ltd.)

5. Raj H.R. Solutation Pvt. Ltd.

6. Lakhmendra Khurana & Sons (H.U.F.)

7. Excel Info FZE (UAE)

b) Key Management Personnel

1. Lakhmendra Khurana (Managing Director)

2. Ranjana Khurana (Executive Director)

3. Bela Ash (Executive Director)

4. Ravi P. Sinha (Independent Director)

5. Binoy Gupta (Independent Director)

6. Ramesh Joshi (Independent Director)

c) Relatives of Key Management Personnel

Director Name of Relative Relationship

1. Lakhmendra Khurana Isha Khurana Daughter

2. Lakhmendra Khurana Arpit Khurana Son

3. Bela Ash Pratima Ash Mother

e) The Company has given loan to its wholly owned subsidiary viz. Excel Info FZE of Rs. 22,28,24,388 without repayment schedule and interest. Maximum amount outstanding during the year was Rs. 22,28,24,388.

4) Quantitative Information

Company is engaged in business of Business Process Outsourcing/IT enabled Services. Hence it is not possible to give quantitative details of turnover and certain information. In Para 3, 4C and 4D of Part II of Schedule VI to Companies Act 1956.

5) Remittance in foreign currency on account of dividend to a non-resident shareholder: Final dividend on 106218 Equity Shares for 2009-2010 (Previous year : Nil) :- Rs 106218

6) Certain balances in Loans and Advances and Debtors account are subject to confirmation/ reconciliation.

7) In the opinion of Board of Directors of the company current assets, loans & advances are of approximately the value stated, if realized in ordinary course of business.

8) The figures have been regrouped /rearranged wherever necessary to make them comparable with those of current period.

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Mar 31, 2010

1. The identification of Micro, Small & Medium Suppliers is based on Managements knowledge of their status. There are no dues to Micro, Small & Medium Enterprise Supplier as on 31.03.2010 (March 31, 2009, Rs. Nil)

2. As per the information given by the management the company has only one reportable business segment as defined under AS 17 -"Segmenting Reporting" issued by Institute of Chartered Accountants of India, hence segment wise information is not relevant.

3. Related Party Disclosure

As per Accounting Standard - 18, issued by the ICAI, the Companys related parties and transactions with them are as under.

a) Associates

1 Ranjana Construction Ltd.

2 Tista Impex Pvt. Ltd.

3 Ritz Shopping Mall Pvt. Ltd.

4 Paramsatya Construction Pvt. Ltd.

5 Raj H.R. Solutation Pvt. Ltd.

6 Lakhmendra Khurana & Sons (H.U.F.)

7 Excel Info FZE (UAE)

8 Omdaya Builders & Developers Pvt. Ltd.

b) Key Management Personnel

1 Lakhmendra Khurana (Managing Director)

2 Ranjana Khurana (Executive Director)

3 Bela Ash (Executive Director)

4 Ravi P. Sinha (Independent Director)

5 Binoy Gupta (Independent Director)

6 Ramesh Joshi (Independent Director)

c) Relatives of Key Management Personnel

Director Name of Relative Relationship

1. Lakhmendra Khurana Isha Khurana Daughter

2. Lakhmendra Khurana Arpit Khurana Son

3. Bela Ash Pratima Ash Mother

4. Quantitative Information

Company is engaged in business of Business Process Outsourcing/IT enabled Services. Hence it is not possible to give quantitative details of turnover and certain information. In Para 3, 4C and 4D of Part II of Schedule VI to Companies Act 1956.

5. Contingent Liability 31.03.2010 31.03.2009

Guarantee to Custom

Department (Rs.) 4,21,357 3,61,031 Bank Guarantee to BSE (Rs.) 23,50,000 _

6. Certain balances in Loans and Advances and Debtors account are subject to confirmation/reconciliation.

7. In the opinion of Board of Directors of the company current assets, loans & advances are of approximately the value stated, if realized in ordinary course of business.

8. The figures have been regrouped wherever necessary to make them comparable with those of current period.

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Mar 31, 2009

Not Available