Notes to Accounts of Prism Finance Ltd.

Mar 31, 2025

2.9 Provisions:

Provisions are recognised when there is a present obligation as a result of a past event, and it is probable that an
outflow of resources embodying economic benefits will be required to settle the obligation and there is a reliable
estimate of the amount of the obligation. Provisions are reviewed at each balance sheet date and adjusted to
reflect the current best estimate.

2.10 Earnings Per Share:

Basic earnings per share is calculated by dividing the net profit or loss for the period attributable to equity
shareholders by the weighted average number of equity shares outstanding during the period. Earnings considered
in ascertaining the Company’s earnings per share is the net profit for the period after deducting preference
dividends and any attributable tax thereto for the period. The weighted average number of equity shares outstanding
during the period and for all periods presented is adjusted for events, such as bonus for the year ended 31^st March,
2025.

2.11 Cash and cash equivalents:

Cash and cash equivalents in the balance sheet comprise cash on hand, cheques and drafts on hand, balance
with banks in current accounts and short-term deposits with an original maturity of three months or less, which are
subject to an insignificant risk of change in value.

d. The company has only one class of equity shares having a par value of Rs. 10 per share. Each holder of equity
shares is entitled to one vote per share. Equity Shareholders are eligible to dividend proposed by the Board of
Directors as approved by Shareholders in the ensuing Annual General Meeting.

e. 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.

f. Aggregate number of bonus shares issued, shares issued for consideration other than cash and shares bought
back during the period of five years immediately preceding the reporting date: NIL

g. Calls unpaid : NIL; Forfeited Shares : NIL

28 Capital Commitment & Contingent Liabilities (To the extent not provided for) - Rs. Nil

29 The company has sought balance confirmations from Financial & non Financial liabilities, loans & advances and
financial assets wherever such balance confirmations are received by the Company, the same are reconciled and
appropriate adjustments if required, are made in the books of account.

30 In the opinion of the management of the company, the financial & non-financial assets are approximately of the
same value stated if realized in the ordinary course of business. The provision for the depreciation and for all
known liabilities are adequate and not in excess of amount reasonably necessary.

31 All the investments are held by the company in its own name in demat/physical form. Regarding certain investments
held in the physical form, the company is in the process to dematerialize the same.

32 Deferred Tax:

The Company has adopted Indian Accounting Standard (IND AS- 12) “Income Taxes”, issued by The Institute of
Chartered Accountants of India. Despite of absence of any virtual certainty of future taxable profit, deferred tax
asset has been recognized in the books as at 31st March, 2025.

33 Previous years figures have been regrouped and rearranged where ever necessary to make them comparable
with current year figures.

34 Financial Risk Management

In the course of its business, the Company is exposed to certain financial risks namely Market Risk, credit risk,
Price Risk, interest risk & liquidity risk. The Company’s primary focus is to achieve better predictability of financial
markets and seek to minimize potential adverse effects on its financial performance.

Market Risk:

Market risk is the risk that the fair value of future cash flows of a financial instrument will fluctuate because of
changes in market prices. In the case of the Company, market risk primarily impacts financial instruments
measured at fair value through profit or loss.

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 Company does not have exposure to the risk of changes in market
interest rate as it has debt obligations with fixed interest rates which are measured at FVTPL.

Credit Risk:

Credit risk is the risk that the counter party will not meet its obligations under a financial instrument or a customer
contract, leading to a financial loss. The Company is exposed to credit risk from its financing activities towards
inter corporate deposits to related parties, where no significant impact on credit risk has been identified.

Liquidity Risk:

Liquidity risk is defined as the risk that the Company will not be able to settle or meet its obligations on time or at
a reasonable price. processes and policies related to such risks are overseen by senior management. The
Company manages its liquidity requirement by analyzing the maturity pattern of the Company’s cash flow of
financial assets and financial liabilities. The Company’s objective is to maintain a balance between continuity of
funding and flexibility.

Price Risk

The Company is exposed to equity price risk arising from investments held by the Company and classified
in the balance sheet either as fair value through OCI or at fair value through profit or loss. To manage its price
risk arising from investment in equity securities, the Company diversifies its portfolio. Diversification of the
portfolio is done in accordance with the limits set by the Company.The majority of the company’s equity
investments are listed on the Bombay Stock Exchange (BSE) or the National Stock Exchange (NSE) in India.
The impact of increase / decrease of index on company’s equity and profit for the year assuming that all the
company’s equity investments moved in line with the Index.

Fair Value Hierarchy

All assets and liabilities for which fair value is measured or disclosed in the financial statements are categorized
within the fair value hierarchy. The fair value hierarchy is based on inputs to valuation techniques that are
used to measure fair value that are either observable or unobservable and consists of the following three
levels:

Level 1 - inputs are quoted prices (unadjusted) in active markets for identical assets or liabilities

Level 2 - inputs are other than quoted prices included within level 1 that are observable for the asset or

liability either directly (i.e. as prices) or indirectly (i.e. derived prices)

Level 3 - inputs are not based on observable market data (unobservable inputs). Fair values are determined
in whole or in part using a valuation model based on assumption that are neither supported by prices from
observable current market transactions in the same instrument nor are they based on available market data.

36 Operating Segments

There is no separate reportable segment as per Ind AS 108 on ‘Operating Segments’ in respect of the Company.
The Company operates in single segment only. There are no operations outside India and hence there is no
external revenue or assets which require disclosure. No revenue from transactions with a single external customer
amounted to 10% or more of the Company’s total revenue in year ended 31 March 2025 or 31 March 2024.

37 Details of Benami Property Held

As informed and confirmed by the Board of Directors, there are no proceedings which have been initiated or
pending against the Company for holding any benami property under the Benami Transactions (Prohibition) Act,
1988 and rules made thereunder.

38 Willful Defaulter

As informed and confirmed by the Board of Directors, the Company has not been declared as Willful Defaulter by
any Bank or Financial Institution or other Lender.

39 Relationship with Struck off Companies:

As informed and confirmed by the Board of Directors, during the year, the Company does not have any transactions
with the companies struck off under section 248 of Companies Act, 2013 or section 560 of Companies Act, 1956.

40 Compliance with number of layers of companies:

As informed and confirmed by the Board of Directors, the Company has complied with the number of layers
prescribed under clause (87) of section 2 of the Act read with Companies (Restriction onnumber of Layers) Rules,
2017.

41 Utilization of Borrowed funds and securites premium:

During the financial year ended 31^st March 2025, other than the transactions undertaken in the normal course of
business and in accordance with extant regulatory guidelines as applicable.

(i) No funds (which are material either individually or in the aggregate) have been advanced or loaned or
invested (either from borrowed funds or share premium or any other sources or kind of funds) by the
Company to or in any other person or entity, including foreign entity (“Intermediaries”), with the understanding,
whether recorded in writing or otherwise, that the Intermediary shall, whether, directly or indirectly lend or
invest in other persons or entities identified in any manner whatsoever by or on behalf of the Company
(“Ultimate Beneficiaries”) or provide any guarantee, security or the like on behalf of the Ultimate Beneficiaries.

(ii) No funds (which are material either individually or in the aggregate) have been received by the Company
from any person or entity, including foreign entity (“Funding Parties”), with the understanding, whether

recorded in writing or otherwise, that the Company shaN,whether, directly or indirectly, lend or invest in other
persons or entities identified in any manner whatsoever by or on behalf of the Funding Party (“Ultimate
Beneficiaries”) or provide any guarantee, security or the like on behalf of the Ultimate Beneficiaries.

42 Undisclosed Income:

As informed and confirmed by the Board of Directors, the Company does not have any transactions not recorded
in the books of accounts that has been surrendered or disclosed as income during the year in the tax assessments
under the Income Tax Act, 1961 (such as, search or survey or any other relevant provisions of the Income Tax
Act,1961). Also, there are nil previously unrecorded income and related assets.

43 Details of Crypto Currency or Virtual Currency:

As informed and confirmed by the Board of Directors, the Company has not traded or invested in Crypto currency
or Virtual Currency during the financial year.

44 Registration of Charge

As stated & Confirmed by the Board of Directors,The Company does not have any pending registration or
satisfaction of charges with ROC beyond the statutory period.

45 Compliance with Scheme of Arrangement

The Company has not applied for any scheme of Arrangements under sections 230 to 237 of the Companies Act 2013.

46 The Company has assessed internal and external information upto the date of approval of the audited financial
statements while reviewing the recoverability of assets, adequacy of financial resources, Performance of contractual
obligations, ability to service the debt and liabilities etc. Based on such assessment, the company expects to fully
recover the carrying amounts of the assets and comfortably discharge its debts and obligations. Hence the
management does not envisage any material impact on the audited financial statements of the company for the
year ended on 31^st March 2025.

---

Mar 31, 2024

2.9 Provisions:

Provisions are recognised when there is a present obligation as a result of a past event, and it is probable that an
outflow of resources embodying economic benefits will be required to settle the obligation and there is a reliable
estimate of the amount of the obligation. Provisions are reviewed at each balance sheet date and adjusted to
reflect the current best estimate.

2.10 Earnings Per Share:

Basic earnings per share is calculated by dividing the net profit or loss for the period attributable to equity
shareholders by the weighted average number of equity shares outstanding during the period. Earnings considered
in ascertaining the Company''s earnings per share is the net profit for the period after deducting preference
dividends and any attributable tax thereto for the period. The weighted average number of equity shares outstanding
during the period and for all periods presented is adjusted for events, such as bonus for the year ended 31^st March,
2024.

2.11 Cash and cash equivalents:

Cash and cash equivalents in the balance sheet comprise cash on hand, cheques and drafts on hand, balance
with banks in current accounts and short-term deposits with an original maturity of three months or less, which are
subject to an insignificant risk of change in value.

d. The company has only one class of equity shares having a par value of Rs. 10 per share. Each holder of equity
shares is entitled to one vote per share. Equity Shareholders are eligible to dividend proposed by the Board of
Directors as approved by Shareholders in the ensuing Annual General Meeting.

e. 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.

f. Aggregate number of bonus shares issued, shares issued for consideration other than cash and shares bought
back during the period of five years immediately preceding the reporting date: NIL

g. Calls unpaid : NIL; Forfeited Shares : NIL

27. Capital Commitment & Contingent Liabilities (To the extent not provided for) - Rs. Nil

28 The company has sought balance confirmations from Financial & non Financial liabilities, loans & advances and
financial assets wherever such balance confirmations are received by the Company, the same are reconciled and
appropriate adjustments if required, are made in the books of account.

29 In the opinion of the management of the company, the financial & non-financial assets are approximately of the
same value stated if realized in the ordinary course of business. The provision for the depreciation and for all
known liabilities are adequate and not in excess of amount reasonably necessary.

30 All the investments are held by the company in its own name in demat/physical form. Regarding certain investments
held in the physical form, the company is in the process to dematerialize the same.

31 Deferred Tax:

The Company has adopted Indian Accounting Standard (IND AS- 12) “Income Taxes”, issued by The Institute of
Chartered Accountants of India. Despite of absence of any virtual certainty of future taxable profit, deferred tax
asset has been recognized in the books as at 31st March, 2024.

32 Previous years figures have been regrouped and rearranged where ever necessary to make them comparable
with current year figures.

33 Financial Risk Management

In the course of its business, the Company is exposed to certain financial risks namely Market Risk, credit risk,
Price Risk, interest risk & liquidity risk. The Company''s primary focus is to achieve better predictability of financial
markets and seek to minimize potential adverse effects on its financial performance.

Market Risk:

Market risk is the risk that the fair value of future cash flows of a financial instrument will fluctuate because of
changes in market prices. In the case of the Company, market risk primarily impacts financial instruments
measured at fair value through profit or loss.

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 Company does not have exposure to the risk of changes in market
interest rate as it has debt obligations with fixed interest rates which are measured at FVTPL.

Credit Risk:

Credit risk is the risk that the counter party will not meet its obligations under a financial instrument or a customer
contract, leading to a financial loss. The Company is exposed to credit risk from its financing activities towards
inter corporate deposits to related parties, where no significant impact on credit risk has been identified.

Liquidity Risk:

Liquidity risk is defined as the risk that the Company will not be able to settle or meet its obligations on time or at
a reasonable price. processes and policies related to such risks are overseen by senior management. The
Company manages its liquidity requirement by analyzing the maturity pattern of the Company''s cash flow of
financial assets and financial liabilities. The Company''s objective is to maintain a balance between continuity of
funding and flexibility.

Price Risk

The Company is exposed to equity price risk arising from investments held by the Company and classified
in the balance sheet either as fair value through OCI or at fair value through profit or loss. To manage its price
risk arising from investment in equity securities, the Company diversifies its portfolio. Diversification of the
portfolio is done in accordance with the limits set by the Company.The majority of the company''s equity
investments are listed on the Bombay Stock Exchange (BSE) or the National Stock Exchange (NSE) in India.
The impact of increase / decrease of index on company''s equity and profit for the year assuming that all the
company''s equity investments moved in line with the Index.

Fair Value Hierarchy

All assets and liabilities for which fair value is measured or disclosed in the financial statements are categorized
within the fair value hierarchy. The fair value hierarchy is based on inputs to valuation techniques that are
used to measure fair value that are either observable or unobservable and consists of the following three
levels:

Level 1 - inputs are quoted prices (unadjusted) in active markets for identical assets or liabilities

Level 2 - inputs are other than quoted prices included within level 1 that are observable for the asset or

liability either directly (i.e. as prices) or indirectly (i.e. derived prices)

Level 3 - inputs are not based on observable market data (unobservable inputs). Fair values are determined
in whole or in part using a valuation model based on assumption that are neither supported by prices from
observable current market transactions in the same instrument nor are they based on available market data.

36 Operating Segments

There is no separate reportable segment as per Ind AS 108 on ‘Operating Segments'' in respect of the Company.
The Company operates in single segment only. There are no operations outside India and hence there is no
external revenue or assets which require disclosure. No revenue from transactions with a single external customer
amounted to 10% or more of the Company''s total revenue in year ended 31 March 2024 or 31 March 2023.

37 Details of Benami Property Held

As informed and confirmed by the Board of Directors, there are no proceedings which have been initiated or
pending against the Company for holding any benami property under the Benami Transactions (Prohibition) Act,
1988 and rules made thereunder.

38 Willful Defaulter

As informed and confirmed by the Board of Directors, the Company has not been declared as Willful Defaulter by
any Bank or Financial Institution or other Lender.

39 Relationship with Struck off Companies:

As informed and confirmed by the Board of Directors, during the year, the Company does not have any transactions
with the companies struck off under section 248 of Companies Act, 2013 or section 560 of Companies Act, 1956.

40 Compliance with number of layers of companies:

As informed and confirmed by the Board of Directors, the Company has complied with the number of layers
prescribed under clause (87) of section 2 of the Act read with Companies (Restriction onnumber of Layers) Rules,
2017.

41 Utilization of Borrowed funds and securites premium:

During the financial year ended 31^st March 2024, other than the transactions undertaken in the normal course of
business and in accordance with extant regulatory guidelines as applicable.

(i) No funds (which are material either individually or in the aggregate) have been advanced or loaned or
invested (either from borrowed funds or share premium or any other sources or kind of funds) by the
Company to or in any other person or entity, including foreign entity (“Intermediaries”), with the understanding,
whether recorded in writing or otherwise, that the Intermediary shall, whether, directly or indirectly lend or
invest in other persons or entities identified in any manner whatsoever by or on behalf of the Company
(“Ultimate Beneficiaries”) or provide any guarantee, security or the like on behalf of the Ultimate Beneficiaries.

(ii) No funds (which are material either individually or in the aggregate) have been received by the Company
from any person or entity, including foreign entity (“Funding Parties”), with the understanding, whether
recorded in writing or otherwise, that the Company shall,whether, directly or indirectly, lend or invest in other
persons or entities identified in any manner whatsoever by or on behalf of the Funding Party (“Ultimate
Beneficiaries”) or provide any guarantee, security or the like on behalf of the Ultimate Beneficiaries.

42 Undisclosed Income:

As informed and confirmed by the Board of Directors, the Company does not have any transactions not recorded
in the books of accounts that has been surrendered or disclosed as income during the year in the tax assessments
under the Income Tax Act, 1961 (such as, search or survey or any other relevant provisions of the Income Tax
Act,1961). Also, there are nil previously unrecorded income and related assets.

43 Details of Crypto Currency or Virtual Currency:

As informed and confirmed by the Board of Directors, the Company has not traded or invested in Crypto currency
or Virtual Currency during the financial year.

44 Registration of Charge

As stated & Confirmed by the Board of Directors,The Company does not have any pending registration or
satisfaction of charges with ROC beyond the statutory period.

45 Compliance with Scheme of Arrangement

The Company has not applied for any scheme of Arrangements under sections 230 to 237 of the Companies Act 2013.

46 The Company has assessed internal and external information upto the date of approval of the audited financial
statements while reviewing the recoverability of assets, adequacy of financial resources, Performance of contractual
obligations, ability to service the debt and liabilities etc. Based on such assessment, the company expects to fully
recover the carrying amounts of the assets and comfortably discharge its debts and obligations. Hence the
management does not envisage any material impact on the audited financial statements of the company for the
year ended on 31^st March 2024.

As per our report of even date For and on behalf of the Board of Directors of

For H K Shah & Co., Prism Finance Limited

Chartered Accountants

FRN.: 109583W ^{K Gu|}p^ta . ^^{al R}. ^D

Company Secretary Chairperson

H K Shah DIN : 02636329

P^artn^er Chirag J. Desai Kashyap R. Mehta

^M.^N°.^: 042758 Chief Financial Officer Director

UDIN : 24042758BKBJGH1542 DIN - _00005063

Place : Ahmedabad P^{lace : Ahmedabad}

Dated : 30/05/2024 ^{Date : 30/05/2024}

---

Mar 31, 2015

1. Contingent Liability : NIL

2. Balances under the head of current & non-current liabilities, long term loans & advances and current assets including few bank balances and certain investments are subject to confirmation and reconciliation.

3. In the opinion of the management of the company, the current & non-current assets are approximately of the same value stated if realized in the ordinary course of business. The provision for the depreciation and for all known liabilities are adequate and not in excess of amount reasonably necessary.

4. Under the Micro, Small and Medium Enterprises Development Act, 2006, certain disclosures are required to be made relating to Micro, Small and Medium Enterprises. The company is in the process of compiling relevant information from its suppliers about their coverage under the Act. Since the relevant information is not presently available, no disclosures have been made in the Accounts.

5. All the non-current investments are held by the company in its own name in demat/physical form. Regarding certain investments held in the physical form, the company is in the process to dematerialize the same.

6. In the opinion of the management, as there is a book loss and the company has no taxable income for the year under review as per the normal provisions of the Income Tax Act, 1961, the question of provision for current tax does not arise.

7. The Company has revised the useful life of fixed assets based on Schedule II to the Companies Act, 2013 for the purpose of providing depreciation on its fixed assets. Accordingly, the carrying amount of the assets as on April 1, 2014 has been depreciated over the remaining revised useful life of the fixed assets. Consequently, the depreciation for the year ended March 31, 2015 is higher and the profit /(loss) before tax is lower to the extent of Rs. 46,562/-

8. Depreciation and amortization expenses (net) stated in statement of profit and loss includes excess provision of depreciation write back during the year amounting to Rs. 44,037/-.

9. In view of Accounting Standard As-18 "Related Party Disclosure" issued by the Institute of Chartered Accountant of India and made mandatory in respect of accounting year commencing on or after April 2001, the disclosure in respect of the related party transactions for the year ended 31st March, 2015 are given below:

(Note: Related party relationship and transactions thereof are as certified by the company and relied up on by the auditors as such.)

A. Relationship

1. Subsidiaries

Opel Securities Ltd. up to 26th March, 2015

2. Associates of the Company

a) Samurai Holding Pvt. Ltd.

b) Som Shive (Impex) Ltd.

c) Spectratek Industries

d) Khadayta Decor Ltd up to 26th March, 2015

3. Key Management Personnel/Relatives/Individuals

a) Shri Kashyap Rajendra Mehta - Director

b) Smt. Anal Desai - Director

c) Shri Udayan D. Velvan - Director

d) Shri Chirag J Desai - Chief financial officer

e) Ms. Palak D. Parekh - Company Secretary

4. Promoters and their relatives having control:

a) Shri Pranay A Patel

b) Shri Rahul A Patel

c) Ms. Poonam Patel

---

Mar 31, 2014

1. Contingent Liability : NIL

2. The legal and professional expenses includes payment to Auditors as under :

Year Year 2013-2014 2012-2013

Audit Fees 50,000 45,000

3. Balances under the head of current& non-current liabilities, long term loans & advances and current assets including few bank balances and certain investments are subject to confirmation and reconciliation.

4. In the opinion of the management of the company, the current & non-current assets are approximately of the same value stated if realized in the ordinary course of business. The provision for the depreciation and for all known liabilities are adequate and not in excess of amount reasonably necessary.

5. Under the Micro, Small and Medium Enterprises Development Act,2006, certain disclosures are required to be made relating to Micro, Small and Medium Enterprises. The company is in the process of compiling relevant information from its suppliers about their coverage under the Act. Since the relevant information is not presently available, no disclosures have been made in the Accounts.

6. The Company has adopted Accounting Standard - AS- 22 " Accounting for Taxes on Income",issued by The Institute of Chartered Accountants of India. The Company has net deferred tax liability as under:- The breakup of Net deferred tax liability as At 31.03.2014 arising on account of timing difference in respect of:

7. All the non-current investments are held by the company in its own name in dmat/physical form. Regarding certain investments held in the physical form, the company is in the process to dematerialize the same.

8. In the opinion of the management, the company has no tax liability computed under the ordinary provisions of the Income Tax Act,1961 therefore provision for Income tax has been made as per the provisions of Minimum Alternate Tax u/s 115JB of Income Tax Act, 1961.

9. In view of Accounting Standard As-18 "Related Party Disclosure" issued by the Institute of Chartered Accountant of India and made mandatory in respect of accounting year commencing on or after April2001,the disclosure in respect of the related party transactions for the year ended 31st March,2014 are given below:

(Note: Related party relationship and transactions thereof are as certified by the company and relied up on by the auditors as such.)

A. Relationship

1. Subsidiaries

Opel Securities Ltd.

2. Associates of the Company

a) Samurai Holding Pvt. Ltd.

b) Som Shive (Impex) Ltd.

c) Spectratek Industries

3. Key Management Personnel/Relatives/Individuals

a) Shri Kashyap Rajesndra Mehta - Director

b) Smt. Anal Desai - Director

c) Shri Udayan D.Velvan- Director

---

Mar 31, 2013

1. Contingent Liability : NIL

2. Balances under the head of current & non-current liabilities, long term loans & advances and current assets including few bank balances and certain investments are subject to confirmation and reconciliation.

3. In the opinion of the management of the company, the current & non-current assets are approximately of the same value stated if realized in the ordinary course of business. The provision for the depreciation and for all known liabilities are adequate and not in excess of amount reasonably necessary.

4. Under the Micro, Small and Medium Enterprises Development Act,2006, certain disclosures are required to be made relating to Micro, Small and Medium Enterprises. The company is in the process of compiling relevant information from its suppliers about their coverage under the Act. Since the relevant information is not presently available, no disclosures have been made in the Accounts.

5. All the non-current investments are held by the company in its own name in demat/physical form. Regarding certain investments held in the physical form, the company is in the process to dematerialize the same.

6. In the opinion of the management, the company has no tax liability computed under the ordinary provisions as well as under the provisions of Minimum Alternate Ta x u/s 115JB of Income Ta x Act, 1961 and therefore no provision for income tax is required to be made.

7. In view of Accounting Standard As-18 "Related Party Disclosure" issued by the Institute of Chartered Accountant of India and made mandatory in respect of accounting year commencing on or after April2001,the disclosure in respect of the related party transactions for the year ended 31st March.2013 are given below:

(Note: Related party relationship and transactions thereof are as certified by the company and relied up on by the auditors as such.)

A. Relationship

1. Subsidiaries

Opel Securities Ltd.

2. Associates of the Company

a) Samurai Holding Pvt. Ltd.

b) Som Shive (Impex) Ltd.

c) Spectratek Industries

3. Key Management Personals/Relatives/Individuals

a) Shri Naresh P. Raval - Director

b) Smt. Anal Desai - Director

c) Shri Kashyap Mehta - Director

---

Mar 31, 2012

1. Contingent Liability : NIL

2. Balances under the head of unsecured loans, current assets, loans and advances, current liabilities and provisions,few bank balances and certain investments are subject to confirmation and reconcilation.

3. In the opinion of the management of the company, the Current Assets, Loans & Advances are approximately of the same value stated if realised in the ordinary course of business. The provision for the depreciation and for all known liabilities are adequate and not in excess of amount reasonably necessary.

4. Under the Micro, Small and Medium Enterprises Development Act,2006, certain disclosures are required to be made relating to Micro, Small and Medium Enterprises. The company is in the process of compiling relevant information from its suppliers about their coverage under the Act. Since the relevant information is not presently available, no disclosures have been made in the Accounts.

5. The Company has adopted Accounting Standard - AS- 22 " Accounting for Taxes on Income", issued by The Institute of Chartered Accountants of India. The Company has net deferred tax liability as under:- The breakup of Net deferred tax liability as At 31.03.2012 arising on account of timing difference in respect of.

6. In view of Accounting Standard As-18 "Related Party Disclosure" issued by the Institute of Chartered Accountant of India and made mandatory in respect of accounting year commencing on or after April 2001, the disclosure in respect of the related party transactions for the year ended 31st March, 2012 are given below:

(Note : Related party relationship and transactions thereof are as certified by the company and relied up on by the auditors as such.)

A. Relationship

1. Subsidiaries

Opel Securities Ltd.

2. Associates of the Company

a) Samurai Holding Pvt. Ltd.

b) Som Shive (Impex) Ltd.

c) Spectratek Industries

3. Key Management Personals/Relatives/Individuals

a) Shri Naresh P. Raval - Director

b) Smt. Anal Desai - Director

c) Shri Kashyap Mehta - Director

7. The particulars of information pursuant to Part IV of Schedule: VI of the Companies Act, 1956 is as per Annexure attached herewith.

8. There are no other particulars required to be given under part II of schedule VI of the Companies Act, 1956.

9. The revised Schedule VI to the Companies Act, 1956 has become effective from 1st April,2011 for preparation and presentation of financial statements. This has significantly impacted the disclosure and presentation made in financial statements. Accordingly, the figures for the previous year have been reclassified, wherever necessary to conform with the current year's classification.

---

Mar 31, 2011

1. Contingent Liability : NIL

2. Balances under the head of unsecured loans, current assets, loans and advances, current liabilities, few bank balances and provisions and certain investments are subject to reconciliation and confirmation.

3. In the opinion of the management of the company, the Current Assets, Loans & Advances are approximately of the same value stated if realised in the ordinary course of business. The provision for the depreciation and for all known liabilities are adequate and not in excess of amount reasonably necessary.

4. Under the Micro, Small and Medium Enterprises Development Act, 2006, certain disclosures are required to be made relating to Micro, Small and Medium Enterprises. The company is in the process of compiling relevant information from its suppliers about their coverage under the Act. Since the relevant information is not presently available, no disclosures have been made in the Accounts.

5. The Company has adopted Accounting Standard - AS-22 "Accounting for Taxes on Income", issued by The Institute of Chartered Accountants of India. The Company has net deferred tax liability as under :-

6. In view of Accounting Standard AS-18 "Related Party Disclosure" issued by the Institute of Chartered Accountant of India and made manadatory in respect of accounting year commencing on or after April 2001, the disclosure in respect of the related party transactions for the year ended 31st March, 2011 are given below

(Note : Related party relationship and transactions thereof are as certified by the company and called up on by the auditors as such.)

A. Relationship

1. Subsidiaries

Opel Securities Ltd.

2. Associates of the Company

a) Samurai Holding Pvt. Ltd.

b) Som Shive (Impex) Ltd.

c) Spectratek Industries

3. Key Management Personals/Relatives/Individuals

a) Shri Naresh P. Raval - Director

b) Smt. Anal Desai - Director

c) Shri Kashyap Mehta - Director

7. The particulars of information pursuant to Part IV of Schedule VI of the Companies Act, 1956 is as per Annexure attached herewith.

8. There are no other particulars required to be given under part II of Schedule VI of the Companies Act, 1956.

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Mar 31, 2010

1. Contingent Liability : NIL

2. Balances under the head of unsecured loans, current assets, loans and advances, current liabilities, few bank balances and provisions and certain investments are subject to reconciliation and contirmation.

3 In the opinion of the management of the company, the Current Assets, Loans 8 Advances are approximately of the same value stated if realised in the ordinary course of business. The provision for the depreciation and for all known liabilities are adequate and not in excess of amount reasonably necessary.

4. Under the Micro, Small and Medium Enterprises Development Act, 2006, certain disclosures are required to be made relating to Micro, Small and Medium Enterprises. The company is in the process of compiling relevant information from its suppliers about their coverage under the Act. Since the relevant information is not presently available, no disclosures have been made in the Accounts.

5. The Company has adopted Accounting Standard - AS-22 "Accounting for Taxes on Income", issued by The Institute of Chartered Accountants of India. The Company has net deferred tax liability as under :-

6. In view of Accounting Standard AS-18 "Related Party Disclosure" issued by the Institute of Chartered Accountant of India and made manadatory in respect of accounting year commencing on or after April 2001. the disclosure in respect of the related party transactions for the year ended 31st March, 2009 are given below

(Note ; Related party relationship and transactions thereof are as certified by the company and called up on by the auditors as such.)

A. Relationship

1. Subsidiaries

Opel Securities Ltd.



2. Associates of the Company

a) Akshar Construction

b) Akshar Estate Pvt. Ltd.

c) Som Shive (Impex) Ltd.

d) Spectratek Industries

e) Bar Megnet Investment Pvt. Ltd.

f) Prominent Plastics Limited



3. Key Management Personals/Relatives/lndividuals

a) Shri Naresh P. Raval - Director

b) Smt. Anal Desai - Director

c) Shri Kashyap Mehta - Director

d) Shri Arunprasad P Patel

e) Shri Pranay A. Patel

f) Shri Rahul A. Patel

7. The particulars of information pursuant to Part IV of Schedule VI of the Companies Act. 1956 is as per Annexure attached herewith.

8. There are no other particulars required to be given under part II of Schedule VI of the Companies Act, 1956.