Notes to Accounts of Socrus Bio Sciences Ltd.

Mar 31, 2013

01. CONTINGENT LIABILITIES :

A. The contingent liabilities may exist in respect of pending assessment with income tax, sales tax, excise duty etc, where the amounts are not ascertainable.

B The Company has not provided a liability of Rs. 1940050 on account of penalty u/s 271 E of the IT act - 1961 ,for the AY. 2001 -02 and the company is preferring a appeal in ITAT(APPEAL) for waiver of same.

C An appeal preferred by the company for A.Y. 2001-02 against addition of Rs.113.38 lacs by assessing officer has been decided in favour of the company,.however the department has gone to Tribunal for the same. 02 The Company has not provided for Gratuity and leave encashment to employees on accrual basis, which is not in conformity with AS-15 issued by ICAI. However, in the opinion of management the amount involved in negligible and has no impact on profit & loss account.

Earnings on foreign exchange-NIL 04v Value of Import on C.I. F. Basis -NIL.

02. Value of foreign currency loan at year end Rs. NIL

03: Figures of previous year have been regrouped, recasted and rearranged wherever necessary to make them comparable.

04. In the opinion of Board, the current assets, loans and advances are approximately of the value stated in the Balance sheet if realised in the ordinary course of business.

05. Stock has been valued, verified & Certified by the Management.

06. Amount is rounded up to nearest of rupees.

07. CONFIRMATION OF BALANCES The accounts of sundry debtors/creditors and other parties are as per books of the concern. These balances are subject to confirmation from respective parties.

08 - In cases where the vouchers and / or supporting are not available it has blin by: Dn Global Solutons information and explanations given to us by the management and as per the books of accounts ma nta.ned '' by the company that the expenses have been incurred wholly & exclusively for the purpose of bus.ness or for creation of the assets as the case may be. ¦;

09''. Provision for taxation for the year under consideration has been made as per the provision of income tax Act, 1961.

10 EARNING PER SHARE (EPS) The earning per share computed as per the requirement under Accounting '' -'''' Standard 20 on earning per share issued by The Institute of Chartered Accountant of India, is as under.

Net profit/Loss after Tax as per P & L account : Rs.-393622176

Weighted average No. of Equity Share outstanding : 32002700 Basic and diluted earning per share : Due to loss of the Company.EPS will be NIL " by Accounting Standard 18 "Related Party Disclosure" are given below:- 1.

Name of Related Party and its relationship

a) Associated Companies

f ) Socrus Pharmaceutical Ltd.

ocrus Infotech Ltd.

Charu Lifecare Private Ltd.

Harsh Life care Private Ltd.

Lush Pharma

Amit Global Corporation

b) Key Management Personnel Rajiv Agnihotri Director

Madhvi Agnihotri Director

PremrajAlwa Director

11 DEFERRED TAX

In view of negative income and uncertainty of profit in future & uncertainty as to the utilization of '' deferred tax assets, even in part, in the foreseeable future, the deferred tax assets arising from unabsorbed depreciation and losses under tax laws have not been recognized.

In the management opinion it is not feasible to classify companies assets & liabilities among different segment.

2. Secondary Segment Information

The Company operates only in the Indian Market & agriculture products so there are no reportable geographical segments. Goodwill has been fully written off during the year due to heavy losses.. balance Sheet Abstract & Companies general business profile as required by Part IV Schedule VI to the companies Act, 1956 is enclosed in ANNEXURE-'' B '' 19 Additional information pursuant to the provisions of paragraphs 4,4b of Part!! of schedule VI of the companies Act, 1956