Notes to Accounts of Sterling Webnet Ltd.

Mar 31, 2013

Note: 1

There is an Investment of Rs 10,000/- in National Saving Certificate. The investment income has not been accounted for till date and status of Investment in National Saving Certificate is not available.

Note: 2

The balances of Central Bank of India, Mumbai, HDFC Bank (Centurion Bank), New Delhi, Sundry Debtors, Sundry Creditors, Loan and Advances granted and Loans received are subject to confirmation and reconciliation. In the opinion of the Board, current assets and loans and advances have a value of at least equal to the amounts shown in the Balance Sheet, if realized in the ordinary course of the business.

Note: 3

The Company has given Interest free loans and advances to related and unrelated concerns.

Note: 4

There are no Micro, Small and Medium Enterprises, as defined in Micro, Small and Medium Enterprises Development Act, 2006, to whom the company owes dues on account of principal amount together with interest and accordingly no additional disclosure have been made.

Note: 5

Previous year figures have been regrouped / rearranged / reclassified wherever considered necessary to make them comparable with the current year figures.

Note: 6

Figures have been rounded off to the nearest Rupee.

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Mar 31, 2012

Note: 1

There is an Investment of Rs 10,000/- in National Saving Certificate. The investment income has not been accounted for till date and status of Investment in National Saving Certificate is not available.

Note: 2

The balances of Central Bank of India, Mumbai, HDFC Bank (Centurion Bank), New Delhi, Sundry Debtors, Sundry Creditors, Loan and Advances granted and Loans received are subject to confirmation and reconciliation. In the opinion of the Board, current assets and loans and advances have a value of at least equal to the amounts shown in the Balance Sheet, if realized in the ordinary course of the business.

Note: 3

The Company has given Interest free loans and advances to related and unrelated concerns.

Note: 4

There are no Micro, Small and Medium Enterprises, as defined in Micro, Small and Medium Enterprises Development Act, 2006, to whom the company owes dues on account of principal amount together with interest and accordingly no additional disclosure have been made.

Note: 5

Previous year figures have been regrouped / rearranged / reclassified wherever considered necessary to make them comparable with the current year figures.

Note: 6

Figures have been rounded off to the nearest Rupee.

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Mar 31, 2011

(a) Associates:

1) Hopewell Industries and Hotels Private Limited

2) Unnicornn Wind Power Private Limited

3) Unnicornn Power & Infrastructure Private Limited

4) Rosseflow Entertainments Private Limited

5) Firstcorp Textile Private Limited

6) Achiever Infocom Private Limited

(b) Key Management Personnel

(i) Govind Sharda

(ii) A R Mishra

(iii) Sagar Jain

(iv) Vinod Porwal

C) The loan and advance granted of Rs. 136.48 Lacs to six parties are interest free and there is no business transaction taken place with these parties during the year.

2. Segment Accounting Policy

The Company operates in Computer Hardware & Software and Trading in Shares and Derivatives. The Segment Reporting as required under Accounting Standard 17 issued by The Institute of Chartered Accountants of India is as under. There is no reportable geographical segment either.

3. Previous year figures have been regrouped/rearranged/reclassified wherever considered necessary to make them comparable with the current year figures.

4. Figures have been rounded off to the nearest Rupee.

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Mar 31, 2010

1. The computers purchased during the year of Rs. 27,40,851/- was planned for capitalization during the previous years and advance given for the purchase of the computers of Rs. 30,00,486/- was shown as capital advance as at 31 st March 2009. The purchase of computers have been treated as regular stock and accordingly dealt in the books of accounts.

2. There is an Investment of Rs 10,000/- in National Saving Certificate. The investment income has not been accounted for till date and status of Investment in National Saving Certificate is not available.

3. The balances of Central Bank of India, Mumbai, HDFC Bank, New Delhi, Sundry Debtors, Sundry Creditors and loan and advances granted are subject to confirmation and reconciliation. In the opinion of the Board, current assets and loans and advances have a value of at least equal to the amounts shown in the Balance Sheet, if realized in the ordinary course of the business.

4. Contingent Liability not provided for in respect of:

(Rs. in Lacs)

Particulars 2009-2010 2008-2009

Gayatri AGRO Industrial Power Ltd.* Rs. 3442.00 Rs. 3442.00

*This value has been taken on the basis of Previous Year Balance Sheet and present status of guarantee given has not been furnished to us.

5. There are no Micro, Small and Medium Enterprises, as defined in Micro, Small and Medium Enterprises Development Act, 2006, to whom the company owes dues on account of principal amount together with interest and accordingly no additional disclosure have been made.

6. As informed to us the details of the related parties as per Accounting Standard 18 are as follows: A) (1) Enterprises where control exists - Nil

(2) Others

(a) Associates:

1) Hopewell Industries and Hotels Private Limited

2) Unicornn Wind Power Private Limited

3) Unicornn Powergen Private Limited

4) Angelfall Energy Private Limited

5) Shree Uttam Power & Steel Private Limited

6) DJIL Investment & Export Private Limited

7) Roseflow Hotels & Resort Private Limited

8) Firstcorp Textiles Limited

(b) Key Management Personnel

(i) Govind Sharda

(ii) A R Mishra

(iii) Munish Tyagi

C) The loan and advance granted of Rs. 122.26 Lacs to three parties are interest free and there is no business transaction taken place with these parties during the year.

7. Segment Accounting Policy

The Company operates in Textile, Computer Software, Trading in Shares and Derivatives and Commission Business. The Segment Reporting as required under Accounting Standard 17 issued by Institute of Chartered Accountant of India is as under. There is no reportable geographical segment either.

Segment wise Report

8. Previous year figures have been regrouped/rearranged/reclassified wherever considered necessary to make them comparable with the current year figures.

9. Figures have been rounded off to the nearest Rupee.

10. Additional information pursuant to the provisions of paragraph 3 and 4 of part II of Schedule VI of the Companies Act, 1956:

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Mar 31, 2009

1. There are seven agreements executed with M/s Bajaj Electricals Limited, Mumbai for rendering the services for procurement of orders from various organizations and also rendering services for follow up various matters with parties from whom order procured. The total commission of Rs. 159.40 lacs excluding services tax of Rs. 16.42 lacs is accounted for as income in the books of accounts during the years. However no payment has been received during the year and the account of M/s Bajaj Electricals Limited is also subject to confirmation.

2. The sales return of computer software of Rs. 38.52 lacs (Including Service Tax of Rs 4.21 lacs) has taken place during the year against the total sale of Rs. 48.52 lacs made in the year 2007-2008 to M/s Autorisk Management Services (P) Limited. Had the sale return been accounted for in the year 2007-08 the profit of the year 2007-08 would have been lower by Rs. 34.31 lacs and the loss Of the year 2008-09 would have been lower by Rs. 34.31 lacs.

3. The loan and advance granted of Rs. 296.73 lacs to three parties are interest free and there is no business transaction taken place with these parties during the year.

4. There is an Investment of Rs 10,000/- in National Saving Certificate. The investment income has not been accounted for till date and status of Investment in National Saving Certificate is not available.

5. The balances of Sundry Debtors, Sundry Creditors and loan and advances granted are subject to confirmation and reconciliation. In the opinion of the Board, current assets and loans and advances have a value of at least equal to the amounts shown in the Balance Sheet, if realized in the ordinary course of the business.

6. Contingent Liability not provided for in respect of: (Rs. in Lacs)

Particulars 2008-2009 2007-2008

Gayatri AGRO Industrial Power Ltd. *Rs. 3442.00 Rs. 3442.00

This value has been taken on the basis of Previous Year Balance Sheet and present status of guarantee given has not been furnished to us.

7. There are no Micro, Small and Medium Enterprises, as defined in Micro, Small and Medium Enterprises Development Act, 2006, to whom the company owes dues on account of principal amount together with interest and accordingly no additional disclosure have been made.

8. As informed to us the details of the related parties as per Accounting Standard 18 are as follows:

A) (1) Enterprises where control exists - Nil (2) Others

(a) Associates:

1) Hopewell Industries and Hotels Private Limited

2) Unicornn Wind Power Private Limited

3) Unicornn Powergen Private Limited

4) Angelfall Energy Private Limited

5) Shree Uttam Power & Steel Private Limited

6) DJIL Investment & Export Private Limited

7) Roseflow Hotels & Resort Private Limited

8) First Corp Textiles Limited

(b) Key Management Personnel (i) Govind Sharda

(ii) A R Mishra (iii) Munish Tyagi

9. Previous year figures have been regrouped / rearranged / reclassified wherever considered necessary to make them comparable with the current year figures.

10. Figures have been rounded off to the nearest Rupee.

11. Additional information as required under Part IV of Schedule VI of the Companies Act,1956