Notes to Accounts of S S Forging & Engineering Ltd.

Mar 31, 2013

1. Contingent Liabilities

- Claims against the Company disputed and not acknowledged as debts - NIL

- The contingent liability which might arise from pending assessments under various statutes. In view of the management the effect of same is not ascertainable.

2. Foreign Exchange Transactions

It is explained to us that No Foreign Exchange Transaction has been carried out during the year.

3. Relating to Current Assets, Current Liabilities, Loans and Advances

In the opinion of the management the balances of current assets, current liabilities, loans and advances have a realizable value in the ordinary course of business at least equal to the value at which they are stated in the balance sheet. The balance standing the said accounts are subject to confirmation and reconciliations.

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Mar 31, 2012

[NOTE-A] CORPORATE PROFILE

S. S. FORGINGS & ENGINEERING LIMITED (the ''Company") is engaged in Trading Business. The Company was Incorporate on 27th April 1994. The Company''s Equity Shares are listed on the Bombay Stock Exchange Limited (BSE).

The Company being engaged in the infrastructure and realty sector and having expertise and support of group developers. The company has purchase land situated at MIDC, Nardhana Industrial Area, Dist. Dhule and started work for its Nardhana Plant.

1. Segmental Reporting

The reporting requirements of Segmental Reporting (AS-17) are not applicable on the company.

2. Contingent Liabilities

· Claims against the Company disputed and not acknowledged as debts – NIL

· The contingent liability which might arise from pending assessments under various statutes. In view of the management the effect of same is not ascertainable.

3. Foreign Exchange Transactions

It is explained to us that No Foreign Exchange Transaction has been carried out during the year.

4. Relating to Current Assets, Current Liabilities, Loans and Advances

In the opinion of the management the balances of current assets, current liabilities, loans and advances have a realizable value in the ordinary course of business at least equal to the value at which they are stated in the balance sheet. The balance standing the said accounts are subject to confirmation and reconciliations.

5. Related Party Transactions –

The Disclosure as per AS – 18 ''Related Party Transactions''

a) Key Managerial Person/ Directors/ Persons having significant influence in the company

· Suresh Sharma

b) Relatives of a) above.

· Sachin Sharma

c) Entities over which Company or Key Managerial Personnel or their relatives, exercise significant influence.

· Brakes Auto India Limited

· Nardhana Infrastructure Limited

· Vertex Spinning Limited

In view of the management of the company the transactions entered, payments received and given are in ordinary course of business and are done at arm length price.

6. Micro, Small and Medium Enterprises Development Act, 2006

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

7. Previous year figures have been regrouped or rearranged wherever necessary so as to make them comparable with current year classifications.

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Mar 31, 2010

1. Contingent liabilities

- Claims against the Company disputed and not acknowledged as debts - NIL

- The contingent liability which might arise from pending assessments under various statutes. In view of the management the effect of same is not ascertainable.

2. Foreign Exchange Transactions

EARNING NIL

OUT GO NIL

3. In the opinion of the management the balances of current assets, current liabilities, loans and advances, have a realizable value in the ordinary course of business at least equal to the value at which they are stated in the balance sheet. The balance standing the said accounts are subject to confirmation and reconciliations.

4. Related Party Transactions -

The Disclosure as per AS -18 Related Party Transactions

a) Key Managerial Person/ Directors/ Persons having significant influence in the company

- Suresh Sharma

b) Relatives of a) above.

- Sachin Sharma

c) Entities over which Company or Key Managerial Personnel or their relatives, exercise significant influence.

- Brakes Auto India Limited

- Pithampur Steels Limited

- Vertex Spinning Limited

5. Share Application Money Pending Allotment -

The company has Rs. 4338000 lying to the credit of Share Application Money pending allotment from certain parties, in the view of the management the same needs to be paid back and will be paid back and consequently the same has been regrouped in Unsecured Loans.

6. Regrouping/Rearrangement

Previous year figures have been regrouped or rearranged wherever necessary so as to make them comparable with current year classifications.

7. Micro. Small and Medium Enterprises Development Act. 2006 Based on the information available with the company, there are no suppliers who are registered under the Micro, Small and Medium Enterprises Development Act, 2006 as at March 31, 2010. Hence, the information as required under the Micro, Small and Medium Enterprises Development Act, 2006 is not disclosed.

8. Misc. Expenditure

The company has Rs. 4381125 standing to the debit of Misc Expenditure which in the view of the management would be taken to P&L account at later stages. The same should be adjusted from the General Reserve/Credit Balance of Profit and Loss Account of the company.

The Schedules referred to above form an integral part of the Balance Sheet & Profit & Loss Account.