Notes to Accounts of Techtran Polylenses Ltd.

Mar 31, 2015

1. Rights, Preferences and restrictions attached to Equity Shares

The Company has one class of Equity shares having at par value of Rs 10 per Share.Each Shareholder is eligible for one vote per Share held.

The dividend proposed by the Board of Directors is Subject to approval of Shareholders in the ensuing Annual General Meeting. In the event of liquidation of the company,the equity shareholders 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.

2. Working capital Loan is taken from Export-Import Bank of India @ 5.328% interest and the loan is secured by creating paripas sufirst charge on the present & future current assets and corporate office Building of the company. Second charge on present and future Fixed assets. The loan is also secured by the personal. guarantee given by Dr.Jayaram Chigurupati, Chairman of the Company.

3. In the opinion of the Management , the provision for diminution in the value of investments relating to domestic and foreign subsidiaries is due to permanent diminution in the value of investments.

4. The investment of preference shares in Hemarus Therapeutics Limited is redeemable within 7 years from the date of allotment at Rs.172/- and is based on a valuation report. In the opinion of the management, the said investment is realisable at the value stated in the balance sheet.

5. Contingent Liabilities

Particulars 31st March, 2015 31st March, 2014

i) Claims against the Company not acknowledged as debt

APCPDCL wheeling charges claim in Supreme Court 8,780,033 8,780,033

ii) Guarantees

Corporate Guarantees given on behalf of Subsidiary Companies 15,805,489 15,805,489

6. Related Party Disclosures: As per AS-18

i) Subsidiary Companies:

Techtran Opthalmics Private Limited Techtran Lenses, Inc USA Techtran LLC, USA Techtran Optics Private Limited

ii) Key Management Personnel

Sri. Devendra Patil - Chief Executive Officer - upto 31st July 2014 Sri C.K.Hariharan - Manager from 25th March 2015

iii) Dr.Jayaram Chigurupati, Chairman

7. Certain balances of domestic and export debtors and creditors are subject to confirmation and reconciliation.

8. Previous Year figures are regrouped/rearranged/reclassified wherever necessary to conform to the current year classification.

---

Mar 31, 2014

1. Rights, Preferences and restrictions attached to Equity Shares

The Company has one class of Equity shares having at Par Value of Rs 10 per Share. Each Shareholder Is eligible for one vote per Share held. The divident proposed by the Board of Directors Is Subject to approval of Shareholders In the ensuing Annual General Meeting. In the event of liquidation of the company, the equity shareholders will be entiled 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 hel by the shareholders.

2. Contingent Liabilities

(Amount in Rupees)

Particulars 31st March, 2014 31st March, 2013

i) Claims against the Company not acknowledged as debt APCPDCL wheeling charges claim in Supreme Court 8,780,033 8,780,033

ii) Guarantees

Corporate Guarantees given on behalf of Subsidiary Companies 15,805,489 12,500,000

3. Related Party Disclosures:

i) Key Management Personnel

Sri. E.Ranga Kumar - Whole Time Director - up to21.08.2013 Sri. Deven Patil - Chief Executive Officer - from 18.09.2013

ii) Subsidary Companies:

Techtran Opthalmics Private Limited Techtran Lenses, Inc USA Techtran LLC, USA Techtran Optics Pvt. Ltd.

iii) Dr.Jayaram Chigurupati, Chairman

iv) Companies in which substantial interest by Directors

Hemarus Therapeutics Ltd Credence Infrastructure Limited

4. Previous Year figures are regrouped/rearranged/reclassified wherever necessary conform the current year

---

Mar 31, 2013

Note 1.1 Working capital Loan Is taken from EXIM bank @ 5.489 % interest and the loan Is secured by creating pari passu first charge on the present & future current assets of the company. The loan Is also secured by the personal guarantee given by DrJayaram Chigurupati, Chairman of the Company.

Note - 2.1: The Company has calculated provision for tax for the current year and for the previous year without considering the financials of Hemarus Therapeutics Limited as the merger application Is pending before the Honourable High Court of Andhra Pradesh for approval. The Provision for tax will be reworked as and when the Hon''ble High Court of Andhra Pradesh gives the approval for Merger by taking Into financials of Hemarus Therapeutics Limited.

Not* - 3: Segment Reporting:

The company is engaged In the manufacturing of Ophthalmic lenses. As per Accounting Standard 17 Is considered this is the only reportable business segment. As part of secondary reporting, revenues are attributed to geographic areas based on the location of the customers

Note: - 4 Related Party Disclosures:

i) Associate Company:

Credence Infrastructure Limited H) Subsidary Companies:

Techtran Opthalmlcs Private Limited Techtran Optics Private Limited Techtran Lenses, Inc USA Techtran LLC, USA Ri) Key Management Personnel

Sri. E.Ranga Kumar - Whole Time Director

Shri Dr Jayaram Chigurupati, Chairman

Note *5: Previous Year figures are regrouped/rearranged/redassifled wherever nece&sary.

---

Mar 31, 2012

Note 1.1 The working capital is taken from EX!M bank @ 5.489 % interest and the loan is secured by creating pari passu first charge on the present & future current assets of the company, the loan is also secured by the personal guarentee by the promoter director

Note 2.1 Out of the said amount Rs. NIL (Previous year Rs. 4,00,464) pertains to Micro, Small and Medium enterprises as defined under Micro, Small and Medium Enterprises Developmenent Act, 2006 based on the information available with the company

Note: 3.1 - Salary Advances of Rs.20,72,000 (P.Y Rs.20,72,000) represent the amount of dues from the erstwhile directors pending full and final settlement

Note: 4.1 - Fixed deposits with maturity period of less than 3 months & balances in unclaimed dividend accounts are considerd as cash equivalents

Note: 4.2 - Fixed deposits with maturity period of more than 12 months are Rs.50,000,000 (PY Rs. Nil)

Note - 5; Contingent Liabilities (Amount in Rupees)

Particulars 31st Mar 2012 31st Mar 2011

i) Claims against the Company not acknowledged as debt

APCPDCL wheeling charges claim in Supreme Court 8,780,033 8,780,033

ii) Guarantees

Corporate Guarantees given on behalf of Subsidiary Company 12,500,000 12,500,000

Note - 6: Segment Reporting:

The company is engaged in manufacturing of Ophthalmic lenses business which as per Accounting Standard 17 is considered the only reportable business segment. As part of secondary reporting, revenues are attributed to geographic areas based on the location of the customers

Note: - 7 Related Party Disclosures:

i) Associate Company:

Credence Infrastructure Limited

ii) Subsidary Companies:

Techtran Opthalmics Private Limited

Techtran Optics Private Limited

Techtran Lenses Inc USA

iii) Key Management Personnel

Sri. E.Ranga Kumar - Whole Time Director

Transactions were carried out with the related parties

The Company has made relevant disclosures which are applicable as per revised Schedule VI and the figures for the previous year are reclassified/regrouped and rearranged wherever necessary

---

Mar 31, 2011

2010-11 2009-10

1. Contingent liabilities:

Claims not acknowledged as debts:

a) APCPDCL wheeling charges claim 87,80,033 87,80,033 in Supreme Court

b) Corporate Guarantees given on behalf of M/S Techtran Ophthalmics Private Limited 1,25,00,000 1,11,00,000

2. Working capital limits are secured by personal guarantees of two of the directors of the company.

3. Loans and Advances include Rs.20,72,000/- Shown against the erstwhile directors pending Full and final settlement of their accounts.

4. Segment Reporting:

The company is engaged in manufacturing of Ophthalmic lenses business which as per Accounting Standard 17 is considered the only reportable business segment. As part of secondary reporting, revenues are attributed to geographic areas based on the location of the customers.

5. Related Party Disclosures:

a) Relationship

i. Associate company: Credence Infrastructure Limited

ii. 100% Subsidiary Company: Techtran Ophthalmics Private Ltd

iii. Key Management Personnel Relatives

E. Ranga Kumar - Whole Time Director w.e.f. 15th March 2011

K. V. Rao (upto 15-03-2011) Leelavathi K Rao, Wife

Rob K. Rao, Son

Sajan K. Rao, Son

Neena K. Rao, Daughter

K. Krishnadev Rao (upto 06-01-2011) K. Vijayalakshmi, Wife

K. Amruta Devi, Mother

K. Srilatha Rao, Daughter

K. Krishnasree Rao, Daughter

K. Vishnudev Rao, Son

6. Previous year figures have been regrouped / recasted wherever considered necessary to make them comparable with those of the current year.

---

Mar 31, 2010

1. The term loans from financial institutions are secured by a first charge on a pari passu basis on all the companys immovable and movables including movable machinery, machinery spares, tools, accessories present and future, except the companys stock of raw materials, semi finished and finished goods, consumables stores, book debts and such other movables on which the banks / institutions who have sanctioned working capital limits have a first charge. Working capital limits are secured by personal guarantees of two of the directors of the company.

2. Unclaimed dividend of Rs 13,76,560 is included in other liabilities under Current Liabilities and Provisions.

3.Segment Reporting:

The company is engaged in manufacturing of Ophthalmic lenses business which as per Accounting Standard 17 is considered the only reportable business segment. As part of secondary reporting, revenues are attributed to geographic areas based on the location of the customers.

4. Related Party Disclosures:

a) Relationship

i. Subsidiary Company: Techtran Ophthalmics Private Limited

ii. Other Related Company: Techtran Agro Industries Limited

(Closed & defunct)

iii. Key Management Personnel Relatives

K. V. Rao Leelavathi K Rao, Wife

Rob K. Rao, Son

Sajan K. Rao, Son

Neena K. Rao, Daughter

K. Krishnadev Rao K. Vijayalakshmi, Wife

K. Amruta Devi, Mother

K. Srilatha Rao, Daughter

K. Krishnasree Rao, Daughter

K. Vishnudev Rao, Son

5. Previous year figures have been regrouped / recasted wherever considered necessary to make them comparable with those of the current year.