Notes to Accounts of Finaventure Capital Ltd.

Mar 31, 2014

1. Going Concern

The financial statements of the company are prepared on the assumption of going concern. During the year under audit, the company has not carried out any commercial activity. Since the management of the company has plans to carry on financing and investing activity, the entity is a going concern.

2. Investments

Long Term Investments are stated at cost less provision, if any, for diminution which is other than temporary in nature. Current investments are valued at lower of cost and net realizable value. As on the date of this report, the investments of the company have been listed on the stock exchange and the value of investments are higher than its book value.

The Company''s holding in Dr. Datson Labs Limited has reduced from 24.86% to 2.84% (YOY) as on 31st March, 2014 on account of Encumbered shares being invoked by the Financiers owing to the non payment of the dues.

3. Share Capital

There is no change in Authorized Share Capital and Paid up Share Capital during the year.

4. Change in Name

The company''s name was changed from Aasda Lifecare Ltd to Finaventure Capital Limited vide fresh certificate of incorporation issued by Registrar of companies Ministry of Corporate affairs dated 7th June 2011.

8. Related Party Disclosures

In accordance with Accounting Standard 18 - "Related Party Disclosures" issued by the Institute of Char- tered Accountants of India, we report the following related party transactions during the period under review.

A. List of Related Parties

Name of the related party Nature of relationship

where control exists

i. Dr. Kannan Vishwanath Director

B. Transactions with related parties.

Particulars of transaction

The Company has entered into the following related party transactions. As on March 31, 2014 such parties and transactions are identified as per Accounting Standard 18 issued by the ''The Institute of Chartered Accountants of India.''

9. Employee Benefits

Since company has only two employees no provision for gratuity and leave benefit has been made during the year.

10. Deferred Ta x Assets / Liabilities

Since there are no timing difference in determination of Income between the financial statement and income as per Income tax calculation, there is no need to recognize deferred tax asset / liability.

11 . Segment Reporting

Since there are no reportable business segments or geographical segments of the company, this point is not applicable.

13. The Company does not propose to declare any dividend during the year (Previous year Rs. NIL)

14. Unclaimed dividend for current year is Nil. No amount is transferred to Investor Education and Protection Fund as the mandatory period of 7 years has not lapsed.

15. The Income Tax assessments of the Company are completed upto the Assessment Year 2008 - 09 (i.e. Financial year 2007 - 08).

16. There are no other known contingent liabilities as at the Balance Sheet date other than assessments under Income Tax Act, which are yet to be completed and same cannot be quantified.

17. There are no debtors outstanding for more than 6 months.

18. The previous year figures have been recast / regrouped whenever necessary in order to confirm to cur- rent year''s presentation.

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Mar 31, 2013

1. Going Concern

The financial statements of the company are prepared on the assumption of going concern. During the year under audit, the company has not carried out any commercial activity. Since the management of the company has plans to carry on financing and investing activity, the entity is a going concern.

2. Investments

Long Term Investments are stated at cost less provision, if any, for diminution which is other than temporary in nature. Current investments are valued at lower of cost and net realizable value. As on the date of this report, the investments of the company have been listed on the stock exchange and the value of investments are higher than its book value.

The Company''s holding in Aanjaneya Lifecare Ltd has reduced from 42.89% to 24.86% (YOY) as on 31st March, 2013 on account of Encumbered shares being invoked by the Financiers owing to the non payment of the dues. As a result of which the shares which had been held for a period of more than one year was transferred giving birth to substantial profits since these shares were brought at a much lower price at the time of purchase.

The Resultant Profits emanating from transfer of Long term Capital Asset is exempt from Taxation under section 10(38) of Income Tax Act, 1961 since the shares were sold on a recognized stock Exchange. However the profits risen on account of transfer of Short Term Capital assets has resulted into a Tax liability ofRs. 14.21 Lacs.

3. Associate Company

The Company is an associate with Aanjaneya Lifecare Limited (formerly Aanjaneya Biotech Pvt. Ltd.) during the year under report. The Company holds 24.86% shares of Aanjaneya Lifecare Limited as at 31st March, 2013.

4. Share Capital

There is no change in Authorised Share Capital and Paid up Share Capital during the year.

5. Change in Name

The company''s name was changed from Aasda Lifecare Limited to Finaventure Capital Limited vide fresh certificate of incorporation issued by Registrar of Companies, Ministry of Corporate Affairs dated 7th June 2011.

6. No commission on profits is paid at any time during the year to any of the directors of the Company.

7. Employee Benefits

Since company has only two employees no provision for gratuity and leave benefit has been made during the year.

8. Deferred Tax Assets / Liabilities

Since there are no timing difference in determination of Income between the financial statement and income as per Income tax calculation, there is no need to recognize deferred tax asset / liability.

9. Segment Reporting

Since there are no reportable business segments or geographical segments of the company, this point is not applicable.

10. The Company does not propose to declare any dividend during the year (Previous year NIL)

11. Unclaimed dividend for current year is Nil. No amount is transferred to Investor Education and Protection Fund as the mandatory period of 7 years has not lapsed.

12. The Income Tax assessments of the Company are completed upto the Assessment Year 2008 - 09 (i.e. Financial year 2007 - 08).

13. There are no other known contingent liabilities as at the Balance Sheet date other than assessments under Income Tax Act, which are yet to be completed and same cannot be quantified.

14. There are no debtors outstanding for more than 6 months.

15. The previous year figures have been recast / regrouped whenever necessary in order to confirm to current year''s presentation.

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Mar 31, 2012

1. Going Concern

The financial statements of the company are prepared on the assumption of going concern. During the year under audit, the company has not carried out any commercial activity. Since the management of the company has plans to carry on financing and investing activity, the entity is a going concern.

2. Investments

Long Term Investments are stated at cost less provision, if any, for diminution which is other than temporary in nature. Current investments are valued at lower of cost and net realizable value. As on the date of this report, the investments of the company have been listed on the stock exchange and the value of investments are higher than its book value.

3. Associate Company

The Company is an associate with Aanjaneya Lifecare Limited (formerly Aanjaneya Biotech Pvt. Ltd.) during the year under report. The Company holds 42.89% shares of Aanjaneya Lifecare Limited as at 31st March, 2012.

4. Share Capital

There is no change in Authorised Share Capital and Paid up Share Capital during the year.

5. Change in Name

The company's name was changed from Aasda Lifecare Limited to Finaventure Capital Limited vide fresh certificate of incorporation issued by Registrar of Companies, Ministry of Corporate Affairs dated 7th June 2011.

6. No commission on profits is paid at any time during the year to any of the directors of the Company.

7. Employee Benefits

Since company has only two employees no provision for gratuity and leave benefit has been made during the year.

8. Deferred Tax Assets / Liabilities

Since there are no timing difference in determination of Income between the financial statement and income as per Income tax calculation, there is no need to recognize deferred tax asset / liability.

9. Segment Reporting

Since there are no reportable business segments or geographical segments of the company, this point is not applicable.

Since there are no potential equity shares to be issued, the Basic & Diluted Earnings Per Share is the same.

10. The Company does not propose to declare any dividend during the year (Previous year Rs. NIL)

11. Unclaimed dividend for current year is Nil (Previous Year Rs. 165,320/- pertaining to FY 2008- 09) during the year. No amount is transferred to Investor Education and Protection Fund as the mandatory period of 7 years has not lapsed.

12. The Income Tax assessments of the Company are completed upto the Assessment Year 2008 - 09 (i.e. Financial year 2007 - 08).

13. There are no other known contingent liabilities as at the Balance Sheet date other than assessments under Income Tax Act, which are yet to be completed and same cannot be quantified.

14. There are no debtors outstanding for more than 6 months.

15. The previous year figures have been recast / regrouped whenever necessary in order to confirm to current year's presentation.

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Mar 31, 2011

1. Contingent Liability

The Company has stood as a guarantor to the loan taken by its subsidiary Company, AANJANEYALIFECARE LIMITED. The liability of the Company would arise in the event of default of repayment of loan by the subsidiary company. The liability cannot be quantified at this stage. However, with effect from 20th May 2011, the company ceases to be the holding company of AANJANEYALIFECARE LIMITED.

2. Going Concern

The financial statements of the company are prepared on the assumption of going concern. During the year under audit, the company has riot carried out any commercial activity. The Company was a manufacturing company during the year under audit. However, the main object of the company has been changed to financing and investing activities since 19th May 2011 (Refer note 6(c)). The management of the company has plans to carry on financing and investing activity, and hence the entity is a going concern.

3. Investments

Long Term Investments are stated at cost less provision, if any, for diminution which is other than temporary in nature. Current investments are valued at lower of cost and net realizable value. As on the date of this report, the investments of the company have been listed on the stock exchange and the value of investments are higher than its book value.

4. Subsidiary Company

The Company is a holding of AANJANEYA LIFECARE LIMITED (formerly known as AANJANEYA BIOTECH LIMITED) during the year under report. The Company holds 73.25% shares of its subsidiary at 31st March 2011. The total cost of investment in the shares of the AANJANEYA LIFECARE LIMITED inclusive of share transfer expenses is Rs 44,27,00,000. Please also refer note 6 (a) below.

5. Share Capital

There is no change in Authorized Share Capital and Paid up Share Capital during the year.

6. Events occurring after the Balance Sheet date

a. The Subsidiary company, AANJANEYA LIFECARE LIMITED (formerly known as AANJANEYA BIOTECH LIMITED) made an Initial Public Offering of shares (IPO) which opened for subscription on 9th May 2011 and closed on 12th May 2011 to QIB bidders, Retail individual bidders and Non-institutional bidders of 50,00,000 Equity shares of the face value ofRs 10/- each at a price ofRs 234/- (including share premium ofRs 224/-) per Equity share aggregating toRs 11,700 Lacs constituting 39.76 % of its post issue paid up capital. The issue was fully subscribed and allotment to the respective applicants were made on 20th May 2011 in consultation with the authorized representatives of the designated stock exchange viz- Bombay Stock Exchange Limited. The entire issued, subscribed and fully paid up share capital comprising 1,25,76,667 equity shares of Rs 10 each are listed on the National Stock Exchange of India Limited and the Bombay Stock Exchange Limited as per the in-principle approval dated 24th December 2010 and 28th October 2010 respectively received from the said stock exchanges.

b. Pursuant to the aforesaid IPO, effective 20th May 2011, the company ceases to be the holding company of AANJANEYA LIFECARE LIMITED (formerly AANJANEYA BIOTECH LIMITED) consequent to decrease in its shareholding to 44.13% of the post issue paid up capital of the company.

c. The main objects clause of the company has been changed by a Special Resolution approved by the members of the company through a postal ballot on 5th May 2011. The registrar of companies (Maharashtra) approved the change in the object clause on 19th May 2011. The main object of the company has been changed to financing & investing activity.

d. The name of the company of the Company has also been changed by a Special Resolution as approved by the members of the company through postal ballot on 5th May 2011. With effect from 7th June, 2011, the name of the company has been changed back to FINAVENTURE CAPITAL LIMITED.

7. No commission on profits is paid at any time during the year to any of the directors of the Company.

8. Employee Benefits

Since company has only two employees no provision for gratuity and leave benefit has been made during the year.

9. Deferred Tax Assets / Liabilities

Since there are no timing difference in determination of Income between the financial statement and income as per Income tax calculation, there is no need to recognize deferred tax asset/liability.

10. Segment Reporting

Since there are no reportable business segments or geographical segments of the company, this point is not applicable.

11. The Company does not propose to declare any dividend during the Year (Previous year Rs. 10,56,549)

12. Unclaimed dividend for current year is Nil (Previous Year Rs. 165,320/- pertaining to FY 2008-09) during the year. No amount is transferred to Investor Education and Protection Fund as the mandatory period of 7 years has not lapsed.

13. The Income Tax assessments of the Company are completed up to the Assessment Year 2008 - 2009 (i.e. Financial year 2007 - 2008).

14. There are no debtors outstanding for more than 6 months.

15. The previous year figures have been recast / regrouped whenever necessary in order to confirm to current years presentation.

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Mar 31, 2010

1. Going Concern

The financial statements of the company are prepared on the assumption of going concern. The main objects of the company have been amended vide special resolution as approved by the Members of the Company through Postal Ballot on 28m February 2010. The name of the company and the main objects of the company are changed effective 31s1 March 2010. The Company is still a going concern as the activity of the company is being carried out under a new name and revised objects.

2. Investments

The Company was an Investment Company till 31st March 2010. Investments are stated at cost less provision, if any, for diminution which is other than temporary in nature. The investments held by the company are business assets in nature and the profit derived from the sale of investment has been considered as business income.

Subsidiary Company

The Company has become a holding company of Aanjaneya Biotech Pvt. Ltd (ABPL) since the Quarter ended December 2009 pursuant to change in its shareholding.

During the 3rd Quarter ended December 2009 the shareholders of Aanjaneya Biotech Pvt. Ltd. were issued 70,00,000 equity shares on preferential basis at a price of Rs 40 /- per share by the company in exchange of their entire holding of 49,50,000 shares in Aanjaneya Biotech Pvt. Ltd, each of their share being valued at Rs 56.56 (approx).

Subsequently in March 2010 the Company further subscribed for 600,000 shares of Aanjaneya Biotech Private Limited at a price of Rs. 270/- including premium of Rs. 260/- per share. The total shareholding of the company in Aanjaneya Biotech Pvt. Ltd. as at 31st March 2010 stands at 96.08 % including shares held by the company through its nominees.

The total cost of investment in the shares of Aanjaneya Biotech Private Limited inclusive of share transfer expenses is Rs. 44,27,00,000/-as at 31st March 2010.

The promoter of Aanjaneya Biotech Pvt. Ltd., Mr. Kannan Vishwanath is also promoter of our company by virtue of successfully completing compliance under SEBI (Substantial acquisitions and takeover Regulations )1997 and subsequent amendments thereto.

3. Share Capital

The Authorised Share Capital of the Company stands increased from Rs. 8,00,00,000/- to Rs. 30,00,00,000/- The paid up share capital of the company has increased from Rs; 3,56,54,900/- to Rs. 10,56,54,900/- pursuant to issue of 70,00,000 equity shares of Rs. 10/- each at a premium of Rs. 30/- per share. The sum of Rs. 21,00,00,000/-has been credited to share premium account.

4. Change in the Main Object clause & Name of the Company

The Main object clause as well as the name of the Company has been changed by a Special Resolution as approved by the Members of the Company through Postal Ballot on 28th February 2010. The Registrar of Companies (Maharashtra) approved the change of name as well the change in object clause on 31st March 2010 by virtue of which the company has ceased to be an investment company from the said date. The Company business inter alia is into manufacturing from the said date.

5. Events occurring after the Balance Sheet date

The Subsidiary Company has been converted to a Limited Company with effect from 1291 April 2010 and the name of the Company is changed to AANJANEYA BIOTECH LIMITED. Further, with effect from 19m June 2010 the name of the Company has been changed to AANJANEYA LIFE CARE LIMITED.

The company has received an in-principle approval on 17th June 2010 from Bombay Stock Exchange under clause 24(a) of the listing agreement for issue and allotment of equity shares towards the proposed issue of Global Depository Receipt (GDR) for an aggregate amount not exceeding Rs. 300 crores. The approval is granted subject to the company fulfilling the requisite conditions mentioned in the In-principle approval.

The Company has given an Offering Circular of 10,00,000 Global Depository Receipts (GDR) representing 1,00,00,000 equity shares of a nominal value of Rs. 10/- each. Each GDR represents 10 equity shares. The GDRs will be issued in accordance with the automatic route of the Reserve Bank of India set forth in the RBI Notification No. FEMA 20/2000-RB, dated 3d May 2000.

The GDRs issued shall be registered in the name of The Bank of New York, Depository (Nominees) Limited as nominee for the Bank of New York Mellon, London Branch as common depositary for Euroclear Bank S.A./N.V. and Clearstream, Luxembourg and held for the account of account holders in Euroclear and Clearstream Luxembourg. The Shares represented by the GDRs will be held by DBS Bank Limited, Mumbai as the Custodian for The Bank of New York Mellon.

The Company has made an application to admit the GDRs for listing on the Official List of the Luxembourg Stock Exchange and for trading on the Euro MTF Market.

6. Debit & Credit balances including Debtors, Creditors, Loans & Advances appearing in account are subject to adjustment if any.

7. Cash & Bank Balances have been accepted as certified by the Management. Two Bank accounts of the Company were closed in the previous year but inadvertently shown in the financial statements of the company as at year end. As per the confirmation received from the Management, the balances of both these accounts have been transferred to Prior Period Expenses and the bank removed from the list of Bank accounts. A minor difference was observed in one of the bank accounts which could not be traced and on the confirmation received from the Management, the same has been transferred to Prior Period Expenses.

8. All realization from debtors are confirmed and certified by the Management.

9. Business Jncdms

The Business Income iaf the Company includes income from the sale of shares of Unijules.Life Sciences Ltd. The Company fa&d pirrchasedthe shares in the said Company in the previous year (when the Company was an Investment Company) as a part of itsi&usiness activity. The shares of the said company are sold vide agreement dated 10th March 2010 prior to the change iff name and change in the main object clause of the Company. Hence the income from the sale of the shares is treated as Business Income of the Company.

10. No commtesion on profits is paid at any time during the year to any of the directors of the Company.

11. Related Party Disclosures

In accordance wiffl Accounting Standard 18 - "Related Party Disclosures" issued by the Institute of Chartered Accountants of India, we report the following related party transactions during the period under review.

A. List of Related Parties

Name of the related party Nature of relationship where control exists

i. Aanjaneya Biotech Pvt. Ltd. Subsidiary company

ii. Mr. Kannan Vishwanath Director

iii. Mr. Santosh Kudva Director* iv. Mr. Vinayak Kudva Director*

v. Finaventure Advisory Services (I) Pvt. Ltd. Associate**

*Mr. Santosh Kudva & Mr. Vinayak Kudva were directors of the Company till 25th January 2010 and they are also directors of Finaventure Advisory Services (I) Pvt. Ltd.

12. Employee Benefits

Since the company does not have any employees no provision for gratuity and leave benefit has been made during the year.

13. Deferred Tax Assets / Liabilities

Since there are no timing difference in determination of Income between the financial statement and income as per Income tax calculation, there is no need to recognize deferred tax asset / liability.

14. Segment Reporting

Since there, are no reportable business segments or geographical segments of the company, this point is not applicable.

15. The Company proposes to declare a Final dividend of Rs. 10,56,549/- for the year 2009 - 20.10. A provision has been made in the accounts for the dividend and the Dividend Distribution Tax thereon.

16. Unclaimed dividend of Rs. 165,320/- (Previous Year Rs. 167,720/-) pertains to the F-.Y. 20QB - 2009. No amount is transferred to Investor Education and Protection Fund as the mandatory period of 7 years has not lapsed.

17. The Income Tax assessments of the Company are completed up to Assessment Year 2006-2007(i.e. Financial year 2005 - 2006). There are no other known contingent liabilities as at the Balance Sheet date other than the assessments under Income Tax Act, which are yet to be completed and the same cannot be quantified.

18. There are no debtors outstanding for more than 6 months.

19. The previous year figures have been recastregrouped whenever necessary in order to confirm to current years presentation.