Notes to Accounts of Genera Agri Corp Ltd.

Mar 31, 2014

NOTE NO. 1: OTHER NON-CURRENT ASSETS

Note: Debts due by directors and officers shall be disclosed separately

NOTE NO. 2: EARNINGS PER SHARE

Note: The Company has no dilutive instruments as at March 31, 2014. As such dilutive earnings per share equals to Basic Earnings per share.

NOTE NO. 3: SEGMENT REPORTING

The Company operates in three business segments i.e farm sale, export sales and retail sales. Segment Report (AS17) issued by ICAI is not applicable because, the value of export sales and retail sale are not significant in the total turnover.

NOTE NO. 4: Related party disclosure as per Accounting Standard - 18 issued by the Institute of Charted Accountants of India:

Name of the Related parties and descriptions of relationship

Subsidiaries

1. Genera Agri Global Limited

2. Genera Agri Tanzania Limited, Tanzania

Key Managerial Personnel:

Rajesh Naidu Munirathnam

Kalpana Raj Munirathnam

NOTE NO. 5: There are no pending complaints from the investors

NOTE NO. 6: The Company has given loans to the extent of Rs. 103,734,775/- for which the company did not received any interest on these loans. The management decided not to charge interest on these loans. Hence, the interest on these advances will be considered as income in the year of receipt.

NOTE NO. 7: In respect of loans and advances, creditors, debtors are subject to confirmation.

NOTE NO. 8: Previous year''s figures have been re-arranged and regrouped wherever necessary

NOTE NO. 9:

a) Leases:

Leases, where the lessor retains substantially all the risks and rewards incidental to the ownership are classified as operating leases.

Operating lease payments consisting of rental for the premises taken on lease are recognized as an expenses in Profit Loss Account on straight line basis over the lease term.

b) Lease agreement to use Lands:

AS 19 has excluded from its scope, Lease agreement to use of lands. Hence, provision of Accounting Standard 19 does not apply for the lease agreements entered to use of Lands.

NOTE NO. 10: Additional information Pursuant to Paragraph 3 & 4 of Part II of the Schedule VI of the Companies Act, 1956.

Balance Sheet Abstract and Company''s General Profile pursuant to part IV of Schedule VI of the Companies Act, 1956 is enclosed as Annexure to this Balance Sheet.

Based on the information available with the Company, there are no suppliers who are registered under the Micro, Small & Medium Enterprises Development Act, 2006 as at March 31, 2014. Hence the information as required under Micro, Small & Medium Enterprises Development Act, 2006 is not disclosed.

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Mar 31, 2013

NOTE NO. 1 : SEGMENT REPORTING

The Company operates in three business segments i.e farm sale, export sales and retail sales. Segment Report (AS 17) issued by ICAI is not applicable because, the value of export sales and reatail sale are not significantn the total turnover.

2 : 1 Related party disclosure as per Accounting Standard - 18 issued by the Institute of Charted Accountants of India:

Name of the Related parties and discriptions of relationship Subsidiaries

1 Genera Agri Global Limited

2.Genera Agri Tanzania Limited, Tanzania Key Managerial Personnel:

RaJesh Naidu Munirathnam

Kalpana Raj Munirathnam

NOTE NO. 3 : There are no pending complaints from the investors

NOTE NO. 4 .'' The Company has given loans to the extent of Rs. 103,734,775/-for which the company did not received any intererst on these loans. The management decided not to charge interest on these loans. Hence, the interest on these advances will be considered as income in the year of receipt.

NOTE NO. 5 : In respect of loans and advances, creditors, debtors are subject to confirmation. NOTE NO. 46 ''. Previous year''s figures have been re-arranged and regrouped wherever necessary

NOTE NO. 6:

AS 19 leases

a) Leases:

Leases, where the lessor retains substantially all the risks and rewards incidental to the ownership are classified as operating leases.

Opearating lease payments consisting of rental for the premises taken on lease are recognized as an expenses in Profit Loss Account on straight line basis overthe lease term.

b) Lease agreement to use Lands:

AS 19 has excluded from its scope, Lease agreement to use of lands. Hence, provision of Accounting Standard 19 does not apply for the lease agreements entered to use of Lands.

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Mar 31, 2012

1 There are no pending complaints from the investors

2 Previous year''s figures have been re-arranged and regrouped wherever necessary 45 AS 19 Leases

a)Leases:

Leases, where the lessor retains substantially all the risks and rewards incidental to the ownership are classified as operating leases.

Operating lease payments consisting of rental for the premises taken on lease are recognized as an expenses in Profit Loss Account on straight line basis over the lease term.

b) Lease agreement to use Lands:

AS 19 has excluded from its scope, Lease agreement to use of lands. Hence, provision of Accounting Standard 19 does not apply for the lease agreements entered to use of Lands.

3 Balance Sheet Abstract and Company''s General Profile pursuant to part IV of Schedule VI of the Companies Act, 1956 is enclosed as Annexure to this Balance Sheet.

4 Based on the information available with the Company, there are no suppliers who are registered under the Micro, Small & Medium Enterprises Development Act, 2006 as at March 31, 2012. Hence the information as required under Micro, Small & Medium Enterprises Development Act, 2006 is not disclosed.

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Mar 31, 2011

1. Contingent liabilities not provided for: Rs. Nil.

2. In the opinion of the Board, current assets, loans and advances have a value on realization in the ordinary course of business at least equal to the amount at which they are stated and provisions for all known and determined liabilities are adequate and not in the excess of the amount reasonably necessary.

3. Certain balance of the accounts under sundry debtors, sundry creditors are subject to confirmation and / or reconciliation.

4. Loan and advances include advance against capital orders Nil (previous year Nil).

5. Segment Report (AS17) issued by ICAI is applicable

6. Remuneration to Auditors Rs. 50,000 ( Previous year Rs. 50,000)

7. Related party disclosure as per Accounting Standard - 18 issued by the Institute of Charted Accountants of India:

Key Managerial Personnel:

Ramesh Naidu Munirathnam

Kalpana Raj Munirathnam

8. There are no pending complaints from the investors

9. Previous year''s figures have been re-arranged and regrouped wherever necessary.

10. AS 19 LEASES:

a. Leases:

Leases, where the lesser retains substantially all the risks and rewards incidental to the ownership are classified as operating leases. Operating lease payments consisting of rental for the premises taken on lease are recognized as an expense in Profit & Loss Account on straight line basis over the lease term.

b. Lease agreement to use Lands:

AS 19 has excluded from its scope, Lease agreement to use of lands. Hence, provision of Accounting Standard 19 does not apply for the lease agreements entered to use of Lands.

11. Balance Sheet Abstract and Company''s General Profile pursuant to part IV of Schedule VI of the Companies Act, 1956 is enclosed as Annexure to this Balance Sheet.

12. Based on the information available with the Company, there are no suppliers who are registered under the Micro, Small & Medium Enterprises Development Act, 2006 as at March 31, 2011. Hence the information as required under Micro, Small & Medium Enterprises Development Act, 2006 is not disclosed.