Notes to Accounts of Shikhar Leasing & Trading Ltd.

Mar 31, 2025

(h) Provisions and contingent liabilities

The Company creates a provision when there is present obligation as a result of a past event that probably requires an outflow of resources and a reliable estimate can be
made of the amount of the obligation.

A disclosure for a contingent liability is made when there is a possible obligation or a present obligation that may, but probably will not, require an outflow of resources.
The Company also discloses present obligations for which a reliable estimate cannot be made. When there is a possible obligation or a present obligation in respect of
which the likelihood of outflow of resources is remote, no provision or disclosure is made.

(i) Employee Benefit Schemes

(i) Short-term benefits:

Employee benefits payable within twelve months of receiving employee services are classified as short-term employee benefits. These benefits include salaries and
wages, bonus and exgratia. The undiscounted amount of short-term employee benefits to be paid in exchange for employee sevices is recognised as an expesne as the
related service is rendered by employee.

(ii) Post -Employment Benefits:

Gratuity:

The Company has no defined benefit plan (the'' Gratuity Plan''). Hence the Company does not accrue for its Gratuity and it is booked on payment basis.

Defined Contribution Plans - Provident Fund , Employee State Insurance Plan :

The Group doesnot have any defined contributions plans such as contributions to provident fund and employee state insurance schemes.

(j) Investment Property

Investment property is property (land or a building or part of a building or both) held to earn rentals or for capital appreciation or both , rather than for: (a) use in the
production or supply of goods or services or for administrative purposes or (b) sale in the ordinary course of business.

(k) Trade Receivables:

Trade Receivables are stated at book value after making provisions for doubtful debts. Management considers that the book value approximates fairvalue. Judgements are
required in assessing the recoverability of overdue trade receivables and determining whether a provision against those receivables is required. The provision for bad and
doubtful debts is based on specifc risk assessment and reference to past default exprience.

(i) Functional and presentation currency

Items included in the financial statements of the Company are measured using the currency of the primary economic environment in which the Company operates (the
functional currency) . The financial statements are presented in Indian rupee (?) , which is Company''s functional and presentation currency.

C. CRITICAL ACCOUNTING JUDGEMENTS AND KEY SOURCES OF ESTIMATION UNCERTAINITIES

The preparation of the Company''s financial statements requires management to makejudgement, estimates and assumptions that affectthe reported amount of revenue,
expenses, assets and liabilities and the accompanying disclosures. Uncertainty about these assumptions and estimates could result in outcomes that require a material
adjustment to the carrying amount of assets or liabilities affected in future periods.

Estimates and judgements are continually evaluated. The areas involving critical estimates and judgemenst are:

(i) Property, plant and equipment and useful life of property, plant and equipment

Property, plant and equipment / intangible assets are depreciated / amortised over their estimated useful lives, after taking into account estimated residual value.
Management reviews the estimated useful lives and residual values of the assets annually in order to determine the amount of depreciation / amortisation to be
recorded during any reporting period. The useful lives and residual values are based on the Company''s historical experience with similar assets and take into account
anticipated technological changes. The depreciation / amortisation for future periods is revised if there are significant changes
from previous estimates.

(ii) Recognition of deferred tax assets and current tax.

The calculation of the Company''s tax charge necessarily involves a degree of estimation and judgement in respect of certain items whose tax treatment cannot be
finally determined until resolution has been reached with the relevant tax authority or, as appropriate, through aformal legal process. The final resolution of some of
these items may give rise to material profits/losses and/or cash flows. Significant judgments are involved in determining theprovision for income taxes, including
amount expected to be paid/recovered for uncertain tax positions.

(iii) Impairment of Non-Financial Assets - Property, Plant and equipment and Intangible Assets

The Company assesses at each reporting date as to whether there is any indication that any Property, Plant and Equipment and Intangible Assets or group of Assets,
called Cash Generating Units (CGU) may be impaired. Ifany such indication exists, the recoverable amount ofan asset or CGU is estimated to determine the extent of
impairment, if any. When it is not possible to estimate the recoverable amount of an individual asset, the Company estimates the recoverable amount of the CGU to
which the asset belongs. An impairment loss is recognised in the Statement of Profit and Loss to the extent, asset''s carrying amount exceeds its recoverable amount.
The recoverable amount is higher ofan asset''s fair value less cost of disposal and value in use. Value in use is based on the estimated future cash flows, discounted to
their present value using pre-tax discount ratethat reflects current market assessments of thetime value of money and risk specifictothe assets.The impairment loss
recognised in prior accounting period is reversed if there has been a change in the estimate of recoverable amount.

(iv) Estimation of fair values of Provisions

Provisions and liabilities are recognized in the period when it becomes probable that there will be a future outflow of funds resulting from past operations or events
and the amount of cash outflow can be reliably estimated. The timing of recognition and quantification ofthe liability requires the application ofjudgement to existing
facts and circumstances, which can be subject to change. The carrying amounts of provisions and liabilities are reviewed regularly and revised to take account of
changing facts and circumstances.

NOTE 32 As the Company does not fulfill the criteria specified in section 135 of the companies Act read with rule 3 of the Companies (Corporate Social Responsibility Policy)
Rule,2014 (''CSR Rules'')for three consecutive Financial Years, CSR Provisions is not applicable to the company.

NOTE 33 Balances in respect of Trade receivables, Loans & advances and Liabilities in most of the cases are subject to confirmations, reconciliations and adjustments, if any.

NOTE 34 "The Micro, Small and Medium Enterprises Development Act, 2006" has come into force from October 2, 2006 which has repealed the provisions of Interest on

delayed payment to Small Scale and Ancillary Industrial Undertaking Act ,1993. As on the date of this Balance sheet there was no any balance payable to the
suppliers/creditors and hence the provisions of the this Act is not applicable to the company for year. This has been relied upon by the Auditors.

NOTE 35 Under Ind AS, all items of income and expense recognised in a period should be included in profit or loss unless a standard requires or permits otherwise. Items of

income and expense that are not recognised in profit or loss but are shown in the statement of profit and loss as '' other comprehensive income'' includes re¬
measurements of defined benefit plans and fair values or (losses)on FVOCI equity instruments. The concept of other comprehensive income did not exist under
previous GAAP.

NOTE 36 Leases

A contract is, or contains, a lease if the contract conveys the right to control the use of an identified asset for a period of time in exchange for consideration.

Company as a lessee

The Company has elected not to apply the requirements of Ind AS 116 as there is no any contract in writting, further pending litigation with the lessorthe company has
treated the transactions as short-term leases for which the underlying asset is of low value. The lease payments associated with these leases are recognized as an
expense in the profit & loss account.

Company as a lessor

Atthe inception ofthe leasethe Company classifies each of its leases as either an operating lease ora finance lease. The Company recognises lease payments received
under operating leases as income on a straight-line basis over the lease term. In case of a finance lease, finance income is recognised over the lease term based on a
pattern reflecting a constant periodic rate of return on the lessor''s net investment in the lease.When the Company isan intermediate lessor it accounts for its interests
in the head lease and the sub-lease separately. It assesses the lease classification of a sub-lease with reference to the right-of-use asset arising from the head lease, not
with reference to the underlying asset. If a head lease is a short term lease to which the Company applies the exemption described above, then it classifies the sub¬
lease as an operating lease.

b) The Company has not advanced any loans or advances in the nature of loans to specified persons viz. promoters, directors, KMPs, related parties and hence
reporting requirement with respect to repayment of loan is not appplicable.

c) The Company has not borrowed any funds from banks and financial institutions and according, reporting requirement for utilisation of the same is not applicable.

d) The Company has not been declared as a wilful defaulter by any lender who has powers to declare a company as a wilful defaulter at any time during the financial
year or after the end of reporting period but before the date when financial statements are approved.

e) The Company has not advanced or loaned or invested (either from borrowed funds or share premium or any other sources or kind of funds) to or in any other
person(s) or entity(ies), including foreign entities (Intermediaries) with the understanding, whether recorded in writing or otherwise, that the Intermediary shall :

(i) 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

(ii) provide any guarantee, security or the like to or on behalf of the Ultimate Beneficiaries.

f) The Company has not received any funds from any person(s) or entity(ies), including foreign entities (Funding Party) with the understanding, whether recorded in
writing or otherwise, that the Company shall :

(i) 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

(ii) provide any guarantee, security or the like on behalf of the Ultimate Beneficiaries.

g) The Company does not have any transactions with struck-off companies.

h) The Company does not have any transaction which is not recorded in the books of accounts but 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).

i) The Company has not traded or invested in Crypto currency or Virtual Currency during the financial year.

j) The Company does not hav any subsidiary company/ies and hence reporting requirement with respect to compliance with the number of layers prescribed under
clause (87) of section 2 of the Companies Act, 2013 read with Companies (Restriction on number of Layers) Rules, 2017. is not applicable.

k) The Company does not have any charges or satisfaction which is required to be registered with the Registrar of Companies (ROC) and hence reporting requirement
for satisfaction of charge beyond the statutory period is not applicable.

l) The company does not have any Immovable property in the form of capital Assets of which the title deeds are not held in name of the Company is not applicable.

m) The company has not revalued its Property, Plant and Equipment, during the year.

n) The company does not have any capital work in progress for tangible assets or Intangible Assets under development. Further there are no any projects which is
temporarily suspended.

o) The Company does not have any Benami property, where any proceeding has been initiated or pending against the Company for holding any Benami property.

p) The company has not applied for any Scheme of Arrangements to be approved by the Competent Authority in terms of sections 230 to 237 of the Companies Act,
2013, hence the reporting requirement for disclosure of the same is not applicable.

38 Financial Risk Management

The company''s activities expose it to variety of financial risks: market risk, credit risk, interest rate risk and liquidity risk. Within the boundaries of approved Risk
Management Policy framework, the Company uses derivative instruments to manage the volatility of financial markets and minimize the adverse impact 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. Market risk comprises three
types of risk: interest rate risk, currency risk and other price risk, such as equity price risk and commodity risk.

Liquidity Risk

Liquidity risk arises from the Company''s inability to meet its cash flow commitments on the due date. The company maintains sufficient stock of cash, marketable
securities and committed credit facilities. The company accesses local financial markets to meet its liquidity requirements. It uses a range of products to ensure
efficient fundingfrom across well-diversified markets. Treasury monitors rolling forecasts of the company''s cash flow position and ensures that the company is able to
meet its financial obligation at all times including contingencies.

39 Capital Management

The Companys policy is to maintain a strong capital base so as to maintain investor, creditorand market confidence and to sustain future development ofthe business.
Management monitors the return on capital. The Company adheres to a disciplined Capital Management framework in order to maintain a strong balance sheet. The
main objectives are as follows:

a) Manage nterest rates and minimise the impact of market volatility on earnings.

b) Diversify sources of financing in order to manage liquidity risk.

c) Leverage optimally in order to maximise shareholder returns.

As per our report of even date

For A D V & Associates For and on behalf of the Board of Directors

Chartered Accountants

Firm''s registration number: 128045W

Vipul P. Chheda Julie M. shah

WholeTime Director Director

DIN No: 00297838 DIN No: 03500721

Pratik Kabra
Partner

M.No: 611401

UDIN: 25611401BMHWPA4596 Heena S. Desai Jai Vaidya

Place :Mumbai CFO Company Secretary

Dated: 20th May, 2025 DIN No: 00671452 M.No: A42246

---

Mar 31, 2024

(iv) Estimation of fair values of Provisions

Provisions and liabilities are recognized in the period when it becomes probable that there will be a future outflow of funds resulting from past operations or events and the
amount of cash outflow can be reliably estimated. The timing of recognition and quantification of the liability requires the application of judgement to existing facts and
circumstances, which can be subject to change. The carrying amounts of provisions and liabilities are reviewed regularly and revised to take account of changing facts and
circumstances.

Notes: 1) Related party relationship is as identified by the company and relied upon by the auditor.

NOTE 32 As the Company does notfulfill the criteria specified in section 135ofthe companies Act read with rule 3 of the Companies (Corporate Social Responsibility Policy) Rule,2014 (''CSR
Rules'')for three consecutive Financial Years, CSR Provisions is not applicable to the company.

NOTE 33 Balances in respect of Trade receivables, Loans & advances and Liabilities in most of the cases are subject to confirmations, reconciliations and adjustments, if any.

NOTE 34 “The Micro, Small and Medium Enterprises Development Act, 2006” has come into force from October 2, 2006 which has repealed the provisions of Interest on delayed payment
to Small Scale and Ancillary Industrial Undertaking Act ,1993. As on the date of this Balance sheet there was no any balance payable to the suppliers/creditors and hence the
provisions of the this Act is not applicable to the company for year. This has been relied upon by the Auditors.

NOTE 35 Under Ind AS, all items of income and expense recognised in a period should be included in profit or loss unless a standard requires or permits otherwise. Items of income and
expense that are not recognised in profit or loss but are shown in the statement of profit and loss as '' other comprehensive income'' includes re-measurements of defined benefit
plans and fair values or (losses)on FVOCI equity instruments. The concept of other comprehensive income did not exist under previous GAAP.

NOTE 36 Leases

A contract is, or contains, a lease if the contract conveys the right to control the use of an identified asset for a period of time in exchange for consideration.

Company as a lessee

The Company has elected not to applythe requirements of Ind AS 116 as there is no any contract inwritting, further pending litigation with the lessorthe company has treated the
transactions as short-term leases forwhich the underlying asset is of low value. The lease payments associated with these leases are recognized as an expense in the profit & loss
account.

Company as a lessor

At the inception of the lease the Company classifies each of its leases as either an operating lease or a finance lease. The Company recognises lease payments received under
operating leases as income on a straight-line basis over the lease term. In case of a finance lease, finance income is recognised overthe lease term based on a pattern reflecting a
constant periodic rate of return on the lessor''s net investment in the lease.When the Company is an intermediate lessor it accounts for its interests in the head lease and the sub¬
lease separately. It assesses the lease classification ofa sub-lease with reference to the right-of-use asset arising from the head lease, notwith reference to the underlying asset. If
a head lease is a short term lease to which the Company applies the exemption described above, then it classifies the sub-lease as an operating lease.

b) The Company has not advanced any loans or advances in the nature of loans to specified persons viz. promoters, directors, KMPs, related parties and hence reporting
requirement with respect to repayment of loan is not appplicable.

c) The Company has not borrowed any funds from banks and financial institutions and according, reporting requirement for utilisation of the same is not applicable.

d) The Company has not been declared as a wilful defaulter by any lender who has powers to declare a company as a wilful defaulter at any time during the financial yearor after
the end of reporting period but before the date when financial statements are approved.

e) The Company has not advanced or loaned or invested (either from borrowed funds or share premium or any other sources or kind of funds) to or in any other person(s) or
entity(ies), including foreign entities (Intermediaries) with the understanding, whether recorded in writing or otherwise, that the Intermediary shall :

(i) 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

(ii) provide any guarantee, security or the like to or on behalf of the Ultimate Beneficiaries.

f) The Company has not received any funds from any person(s) or entity(ies), including foreign entities (Funding Party) with the understanding, whether recorded in writing or
otherwise, that the Company shall :

(i) 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

(ii) provide any guarantee, security or the like on behalf of the Ultimate Beneficiaries.

g) The Company does not have any transactions with struck-off companies.

h) The Company does not have any transaction which is not recorded in the books of accounts but 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).

i) The Company has not traded or invested in Crypto currency or Virtual Currency during the financial year.

j) The Company does not hav any subsidiary company/ies and hence reporting requirement with respect to compliance with the number of layers prescribed under clause (87) of
section 2 of the Companies Act, 2013 read with Companies (Restriction on number of Layers) Rules, 2017. is not applicable.

k) The Company does not have any charges or satisfaction which is required to be registered with the Registrar of Companies (ROC) and hence reporting requirement for
satisfaction of charge beyond the statutory period is not applicable.

l) The company does not have any Immovable property in the form of capital Assets of which the title deeds are not held in name of the Company is not applicable.

m) The company has not revalued its Property, Plant and Equipment, during the year.

n) The company does not have any capital work in progress for tangible assets or Intangible Assets under development. Further there are no any projects which is temporarily
suspended.

o) The Company does not have any Benami property, where any proceeding has been initiated or pending against the Company for holding any Benami property.

p) The company has not applied for any Scheme ofArrangements to be approved by the Competent Authority in terms of sections 230 to 237 of the Companies Act, 2013, hence
the reporting requirement for disclosure of the same is not applicable.

38 Financial Risk Management

The company''s activities expose it to variety of financial risks: market risk, credit risk, interest rate risk and liquidity risk. Within the boundaries of approved Risk Management
Policy framework, the Company uses derivative instruments to manage the volatility of financial markets and minimize the adverse impact on its financial performance.

Market Risk

Market risk is the risk that the fairvalue offuture cash flows of a financial instrumentwill fluctuate because of changes in market prices. Market risk comprises three types of risk:
interest rate risk, currency risk and other price risk, such as equity price risk and commodity risk.

Liquidity Risk

Liquidity risk arises from the Company''s inability to meet its cash flow commitments on the due date. The company maintains sufficient stock of cash, marketable securities and
committed credit facilities. The company accesses local financial markets to meet its liquidity requirements. It uses a range of products to ensure efficient fundingfrom across well-
diversified markets. Treasury monitors rolling forecasts of the company''s cash flow position and ensures that the company is able to meet its financial obligation at all times
including contingencies.

39 Capital Management

The Companys policy is to maintain a strong capital base so as to maintain investor, creditor and market confidence and to sustain future development of the business.
Management monitors the return on capital. The Company adheres to a disciplined Capital Management framework in order to maintain a strong balance sheet. The main
objectives are as follows:

As per our report of even date

For A D V & Associates For and on behalf of the Board of Directors

Chartered Accountants

Firm''s registration number: 128045W

Vipul P. Chheda Girish M. Boradia

WholeTime Director Director

DIN No: 00297838 DIN No: 00476124

Pratik Kabra
Partner

M.No: 611401

UDIN: 24611401BKCKWW1974 Heena S. Desai

Place :Mumbai CFO

Dated: 30th May, 2024 DIN No: 00671452

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Mar 31, 2013

Companies Overview;

Shikhar Leasing & Trading Limited (the company) is a public Limited company incorporated under the provisions of the companies Act, 1956 vide CIN: L51900MH1984PLC034709 carry on business of Non banking Finance under the category of Loan Company (NBFC)

1.1 The Reserve Bank Of India ( RBI vide its Notification No DNBS.222/CGM(US)- DATED 17TH January 2011 has issued directions to all NBFCs (Deposit Accepting) or holding and non deposit accepting or holding to make provision of 0.25 % on the standard Assets. Accordingly, the Company has made a contingent provision ofRs. 11386/- previous Year Rs. 37,106/- on the standard assets outstanding at the end of the year.

1.2 Dues to Micro Small and Medium Enterprises:

The Company does not possess information as to which of it''s suppliers are ancillary Industrial undertaking/ small scale undertaking holding permanent registration on certificate issued by the director of the industrial of state or union territory consequently the liabilities if any, of interest which would be payable under interest on deferred payment to small scale land ancillary industrial undertaking ordinance,1992 can not be ascertained. However the Company has not received any claim in respect of interest from such suppliers.

1.3 The company has not accounted interest on loan of Rs. 15.75 lacs given to M/s. Anchor Soaps Private Limited as the interest on the ioan is considered doubtful and irrecoverable. The Interest; if any, will be accounted for as and when the same is received. the above loans are outstanding for more than one years old .however based on negotiation, discussion with the party, the company is confident that these amounts will be recovered in full and hence no provision is made in the accounts for the aforesaid loan.

1.4 The Company is engaged only in one operational Business i.e. Finance Business (Loan Company) and Hence Segment reporting is not applicable to the company

1.5 Related party disclosure in accordance with the Accounting Standard 18-issued by the Institute of chartered Accountants of India.

Note: related party relationship is as identified by the company and relied upon by the auditor.

1.6 Balances in respect of Loans & advances and Liabilities in most of the cases are subject to confirmations, reconciliations and adjustments, if any.

1.7 In the opinion of the management. Loans & Advances have a value on realization in the ordinary course of the business at least equal to the amount at which they are stated in the books of accounts.

1.8 The previous year''s figures have been regrouped & recast wherever necessary to make them comparable.

---

Mar 31, 2012

Companies Overview:

Shikhar Leasing & Trading Limited (the company) is a public Limited company incorporated under the provisions of the companies Act, 1956 vide CIN : L18101MH1984PLC034857 carry on business of Non banking Finance under the category of Loan Company (NBFC)

1. The Reserve Bank Of India (RBI vide its Notification No DNBS.222/CGM(US)- DATED 17TH January 2011 has issued directions to all NBFCs (Deposit Accepting) or holding and non deposit accepting or holding to make provision of 0.25 % on the standard Assets. Accordingly, the Company has made a contingent provision of Rs 37106/- previous Year Rs 13870/* on the standard assets outstanding at the end of the year.

1.1 Dues to Micro Small and Medium Enterprises:

The Company does not possess information as to which of it's suppliers are ancillary Industrial undertaking/ small scale undertaking holding permanent registration on certificate issued by the director of the industrial of state or union territory consequently the liabilities if any, of interest which would be payable under interest on deferred payment to small scale land ancillary industrial undertaking ordinance,1992 can not be ascertained. However the Company has not received any claim in respect of interest from such suppliers.

1.2 The company has not accounted interest on loan of Rs.15.75 lacs given to M/s. Anchor Soaps Private Limited as the interest on the loan is considered doubtful and irrecoverable. The Interest, if any, will be accounted for as and when the same is received, the above loans are outstanding for more than one years old .however based on negotiation, discussion with the party, the company is confident that these amounts will be recovered in full and hence no provision is made in the accounts for the aforesaid loan.

1.3 The Company is engaged only in one operational Business i.e Finance Business (Loan Company) and Hence Segment reporting is not applicable to the company

1.4 Related party disclosure in accordance with the Accounting Standard 18-issued by the Institute of chartered Accountants of India.

1.5 C.I.F. value of import: Rs Nil (Previous Year Rs NIL).

1.6 F.O.B value of goods exports: Rs Nil (Previous year Rs Nil).

1.7 Expenditure in foreign currency: Rs Nil (Previous year Rs Nil)

1.8 Earnings in foreign currency: Rs Nil (previous year Rs Nil)

1.9 Earning per Shares.(EPS)

1.10 Previous year's figures have been regrouped, recast and reclassified wherever necessary to make them comparable with the figures of current year.

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Mar 31, 2010

A. Provision for accrual of liability for gratuity in accordance with Accounting Standard (As) 15 (revised 2005) " Employees Benefit" issued by Institute of Chartered Accountant of India has not been made in the accounts. The Liability on account of Gratuity has not been ascertained/quantifiable.

B. "The Micro , Small and Medium Enterprises Development Act, 2006" has come in to force from October 2, 2006 which has repealed the provisions of Interest on delayed payment to small scale and ancillary Industrial undertaking Act ,1993

The Company is in communication with its suppliers to ascertain the applicability of this Act. As on the date of this Balance sheet, the company has not received any communications from any of its suppliers regarding the applicability of this Act to them. This has been relied upon by the Auditors.

The business segments have been identified taking in to consideration.

1. The Nature of the Product.

2. The Differential risks and returns of the segments.

3. The Organisation structure.

4. The Internal Financial Reporting systems.

Business Segments:

- Leasing and Finance Activity

- Service Activity

Inter segment transfer pricing :-

Inter segment prices are normally negotiated amongst the segment with reference to the cost, market prices and business risks, within an overall optimisations objective.

A) Basis for allocating revenues and expenses to the segments.

Revenue and expenses have been accounted for based on the basis of their relationship to the operating activities of the segment. Revenue and expenses, which relates to the enterprise as a whole and are not allocable to segment on the reasonable basis, have been included under "Unallocable Expenses" and or "Unallocalbe Income".

C.Sundry debtors, Sundry creditors and advances are subject to confir- mation and reconciliation if any.

D. Following are the major components of Deferred Tax(Assets)/Liability:-

E. Deferred tax Assets arising on account of Long term Capital loss is not accounted in view of uncertainty as to utilisation of Deferred tax assets in the near future . II. Calculation of deferred tax (Assets)/ Liabilities as on 31st March, 2010 is as given bellow.

F. Event occurring after balance sheet date:. The Company has close down it activities of manufacturing of electrical goods carried on contract basis in the month of July,2010 at Khergam, Valsad, Gujarat and settled claims of all the workers

G. Related party disclosure in accordance with the Accounting Standard 18-issued by the Institute of chartered Accountants of India are given below.

NAME OF THE RELATED PARTY RELATIONSHIP

Shri Girish Boradia Director-Key Managerial Personnel

Shri Damji Lalji Shah Director-Key Managerial Personnel

Shri SanjayAmritlal DesaiDirector-Key Managerial Personnel

Shri Kantilal Samji MarooDirector-Key Managerial Personnel

Shri Vipul Popatlal Chheda[ Director-Key Managerial Personnel

Related parties are identified by the management and relied upon by the auditor. The following transactions were carried out with the related parties in the ordinary course of business.