Notes to Accounts of Vaarad Ventures Ltd.

Mar 31, 2025

2.6. Provisions and Contingent Liabilities

The Company creates a provision when there is present obligation as a result of past
events, it is probable that an outflow of resources embodying economic benefits will
be required to settle the obligation 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. When the likelihood of outflow of resources is remote, no
provision or disclosure is made. If the effect of the time value of money is material,
provisions are discounted using a current pre-tax rate that reflects, when appropriate,
the risks specific to the liability. When discounting is used, the increase in the
provision due to the passage of time is recognised as a finance cost.

2.7. Foreign Currency Translation

Transactions in foreign currencies are initially recorded in the functional currency at
the spot rate of exchange ruling at the date of the transaction. Monetary assets and
liabilities denominated in foreign currencies are retranslated into the functional
currency at the spot rate of exchange at the reporting date. All differences arising on
non-trading activities are taken to other income/expense in the Statement of Profit
and Loss.

Non-monetary items that are measured at historical cost in a foreign currency are
translated using the spot exchange rates as at the date of recognition.

2.8. Leases

Leases where the lessor effectively retains substantially all the risks and benefits of
ownership of the leased asset are classified as operating leases. Operating lease
payments are recognized as an expense in the Statement of profit and loss.

2.9. Cash and Cash Equivalents

Cash and cash equivalents in the balance sheet comprise cash on hand, cheques and
drafts on hand, balance with banks in current accounts and short-term deposits with an
original maturity of three months or less, which are subject to an insignificant risk of
change in value.

2.10. Earnings per Share

Basic earnings per share is calculated by dividing the net profit or loss for the period
attributable to equity shareholders by the weighted average number of equity shares
outstanding during the period. Earnings considered in ascertaining the Company’s
earnings per share is the net profit for the period after deducting preference dividends
and any attributable tax thereto for the period. The weighted average number of equity
shares outstanding during the period and for all periods presented is adjusted for
events, such as bonus shares, sub-division of shares etc. that have changed the number
of equity shares outstanding, without a corresponding change in resources. For the
purpose of calculating diluted earnings per share, the net profit or loss for the period
attributable to equity shareholders is divided by the weighted average number of
equity shares outstanding during the period, considered for deriving basic earnings per
share and weighted average number of equity shares that could have been issued upon
conversion of all dilutive potential equity shares.

2.11. Prior Period Items

All identifiable items of income and expenditure pertaining to prior period are
accounted as "Prior Period Adjustments".

2.12. Other Accounting Policies

These are consistent with generally accepted accounting principles. The figures have
been regrouped for comparison purpose wherever applicable. Quarterly and Annual
figures may not match entirely with these results due to rounding off.

23. As per the information available with the company, there is no small scale (SSI)
undertakings to whom the company owes a sum which is outstanding for more than 30 days.
The company has not received any information from the supplier regarding their status under
the Micro Small & Medium Enterprises Development Act, 2006 and hence disclosures, if
any, relating to amount unpaid as at the end together with interest paid/ payable as required
under the said Act have not been given.

24. Disclosure as per Accounting Standard 15 (Revised)

Gratuity: There are no defined benefit plans for gratuity as there are no employees entitled to
gratuity.

Leave Encashment: Provision for leave encashment has not been made in Accounts. As per
the present service rules the leave is required to be enjoyed or utilized. Hence no leave
entitlement is permissible.

26. Out of 5, 07,913 Equity shares of Atcom Technologies Ltd, 50,000 Equity shares held by
the company are lying with the Income Tax authority in connection with a long pending
income tax matter. This investment has been sold to the extent of 4, 57,913 shares (Balance
will be transferred on recovery).

27. Contingent Liabilities:

Pursuant of the Accounting Standard (AS 29) - Provisions, Contingent Liabilities and
Contingent Assets, the disclosure relating to provisions made in the accounts for the year
ended 31st March 2025 is as shown in the independent auditor’s report.

28. There is no pending litigation.

29. The Company has only one business segment as its primary segment and hence disclosure
of segment-wise information is not required under Accounting Standard -17 ‘Segment
information ‘notified pursuant to the companies (Accounting Standard) Rules, 2006 (as
amended).

30. The balance of certain Creditors, other liabilities and loans and advances are subject to
confirmation /reconciliation.

31. No Provision for diminution in the value of certain long term investments has been
considered necessary, since in the opinion of the management, such diminution in their value
is temporary in nature considering the nature of investments, inherent value, and investees’
assets and expected future cash flows from such investments.

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Mar 31, 2024

2.6. Provisions and Contingent Liabilities

The Company creates a provision when there is present obligation as a result of past events, it is probable that an outflow of resources embodying economic benefits will be required to settle the obligation 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. When the likelihood of outflow of resources is remote, no provision or disclosure is made. If the effect of the time value of money is material, provisions are discounted using a current pretax rate that reflects, when appropriate, the risks specific to the liability. When discounting is used, the increase in the provision due to the passage of time is recognised as a finance cost.

2.7. Foreign Currency Translation

Transactions in foreign currencies are initially recorded in the functional currency at the spot rate of exchange ruling at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the functional currency at the spot rate of exchange at the reporting date. All differences arising on non-trading activities are taken to other income/expense in the Statement of Profit and Loss.

Non-monetary items that are measured at historical cost in a foreign currency are translated using the spot exchange rates as at the date of recognition.

2.8. Leases

Leases where the lessor effectively retains substantially all the risks and benefits of ownership of the leased asset are classified as operating leases. Operating lease payments are recognized as an expense in the Statement of profit and loss.

2.9. Cash and Cash Equivalents

Cash and cash equivalents in the balance sheet comprise cash on hand, cheques and drafts on hand, balance with banks in current accounts and short-term deposits with an original maturity of three months or less, which are subject to an insignificant risk of change in value.

2.10. Earnings per Share

Basic earnings per share is calculated by dividing the net profit or loss for the period attributable to equity shareholders by the weighted average number of equity shares

outstanding during the period. Earnings considered in ascertaining the Company’s earnings per share is the net profit for the period after deducting preference dividends and any attributable tax thereto for the period. The weighted average number of equity shares outstanding during the period and for all periods presented is adjusted for events, such as bonus shares, sub-division of shares etc. that have changed the number of equity shares outstanding, without a corresponding change in resources. For the purpose of calculating diluted earnings per share, the net profit or loss for the period attributable to equity shareholders is divided by the weighted average number of equity shares outstanding during the period, considered for deriving basic earnings per share and weighted average number of equity shares that could have been issued upon conversion of all dilutive potential equity shares.

2.11. Prior Period Items

All identifiable items of income and expenditure pertaining to prior period are accounted as "Prior Period Adjustments".

2.12. Other Accounting Policies

These are consistent with generally accepted accounting principles. The figures have been regrouped for comparison purpose wherever applicable. Quarterly and Annual figures may not match entirely with these results due to rounding off.

23. As per the information available with the company, there is no small scale (SSI) undertakings to whom the company owes a sum which is outstanding for more than 30 days. The company has not received any information from the supplier regarding their status under the Micro Small & Medium Enterprises Development Act, 2006 and hence disclosures, if any, relating to amount unpaid as at the end together with interest paid/ payable as required under the said Act have not been given.

24. Disclosure as per Accounting Standard 15 (Revised)

Gratuity: There are no defined benefit plans for gratuity as there are no employees entitled to gratuity. Leave Encashment: Provision for leave encashment has not been made in Accounts. As per the present service rules the leave is required to be enjoyed or utilized. Hence no leave entitlement is permissible.

26. Out of 5, 07,913 Equity shares of Atcom Technologies Ltd, 50,000 Equity shares held by the company are lying with the Income Tax authority in connection with a long pending income tax matter. This investment has been sold to the extent of 4, 57,913 shares (Balance will be transferred on recovery).

27. Contingent Liabilities:

Pursuant of the Accounting Standard (AS 29) - Provisions, Contingent Liabilities and Contingent Assets, the disclosure relating to provisions made in the accounts for the year ended 31st March 2024 is as shown in the independent auditor’s report.

28. There is no pending litigation.

29. The Company has only one business segment as its primary segment and hence disclosure of segment-wise information is not required under Accounting Standard -17 ‘Segment information ‘notified pursuant to the companies (Accounting Standard) Rules, 2006 (as amended).

30. The balance of certain Creditors, other liabilities and loans and advances are subject to confirmation /reconciliation.

31. No Provision for diminution in the value of certain long term investments has been considered necessary, since in the opinion of the management, such diminution in their value is temporary in nature considering the nature of investments, inherent value, and investees’ assets and expected future cash flows from such investments.

32. Disclosure of balances with subsidiaries, associates, Directors and Key managerial personnel (in lacs.)

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Mar 31, 2023

1. As per the information available with the company, there is no small scale (SSI) undertakings to whom the company owes a sum which is outstanding for more than 30 days. The company has not received any information from the supplier regarding their status under the Micro Small & Medium Enterprises Development Act, 2006 and hence disclosures, if any, relating to amount

unpaid as at the end together with interest paid/ payable as required under the said Act have not been given.

2. Disclosure as per Accounting Standard 15 (Revised)

Gratuity: There are no defined benefit plans for gratuity as there are no employees entitled to gratuity.

Leave Encashment: Provision for leave encashment has not been made in Accounts. As per the present service rules the leave is required to be enjoyed or utilized. Hence no leave entitlement is permissible.

3. Out of 5, 07,913 Equity shares of Atcom Technologies Ltd, 50,000 Equity shares held by the company are lying with the Income Tax authority in connection with a long pending income tax matter. This investment has been sold to the extent of 4, 57,913 shares (Balance will be transferred on recovery).

4. Contingent Liabilities:

Pursuant of the Accounting Standard (AS 29) - Provisions, Contingent Liabilities and Contingent Assets, the disclosure relating to provisions made in the accounts for the year ended 31st March 2023 is as shown in the independent auditor’s report.

5. There is no pending litigation.

6.. The Company has only one business segment as its primary segment and hence disclosure of segment-wise information is not required under Accounting Standard -17 ‘Segment information ‘notified pursuant to the companies (Accounting Standard) Rules, 2006 (as amended).

7. The balance of certain Creditors, other liabilities and loans and advances are subject to confirmation /reconciliation.

8. No Provision for diminution in the value of certain long term investments has been considered necessary, since in the opinion of the management, such diminution in their value is temporary in nature considering the nature of investments, inherent value, and investees’ assets and expected future cash flows from such investments.

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Mar 31, 2021

23. As per the information available with the company, there is no small scale (SSI) undertakings to whom the company owes a sum which is outstanding for more than 30 days. The company has not received any information from the supplier regarding their status under the Micro Small & Medium Enterprises Development Act, 2006 and hence disclosures, if any, relating to amount unpaid as at the end together with interest paid/ payable as required under the said Act have not been given.

24. Disclosure as per Accounting Standard 15 (Revised)

Gratuity: There are no defined benefit plans for gratuity as there are no employees entitled to gratuity.

Leave Encashment: Provision for leave encashment has not been made in Accounts. As per the present service rules the leave is required to be enjoyed or utilized. Hence no leave entitlement is permissible.

26. Out of 5,07,913 Equity shares of Atcom Technologies Ltd, 50,000 Equity shares held by the company are lying with the Income Tax authority in connection with a long pending income tax matter. This investment has been sold to the extent of 4,57,913 shares (Balance will be transferred on recovery).

27. Contingent Liabilities:

Pursuant of the Accounting Standard (AS 29) - Provisions, Contingent Liabilities and Contingent Assets, the disclosure relating to provisions made in the accounts for the year ended 31st March 2021 is as shown in the independent auditor''s report.

28. There is no pending litigation.

29. The Company has only one business segment as its primary segment and hence disclosure of segment-wise information is not required under Accounting Standard -17 ''Segment information ''notified pursuant to the companies (Accounting Standard) Rules, 2006 (as amended).

30. The balance of certain Creditors, other liabilities and loans and advances are subject to confirmation /reconciliation.

31. No Provision for diminution in the value of certain long-term investments has been considered necessary, since in the opinion of the management, such diminution in their value is temporary in nature considering the nature of investments, inherent value, and investees'' assets and expected future cash flows from such investments.

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Mar 31, 2018

Note:1

The company has examined carrying cost of its identified cash generating units by comparing present value of estimated future cash flows ,in terms of Accounting standard-28. N o provision for impairment is required as assets of none of cash generating units are impaired during the financial year ended 3it March,20B 2 Rounded off where required.

2. As per the information available with the company, there is no small scale (SSI) undertakings to whom the company owes a sum which is outstanding for more than 30 days. The company has not received any information from the supplier regarding their status under the Micro Small & Medium Enterprises Development Act, 2006 and hence disclosures, if any, relating to amount unpaid as at the end together with interest paid/ payable as required under the said Act have not been given.

3. Disclosure as per Accounting Standard 15 (Revised)

Gratuity: There are no defined benefit plans for gratuity as there are no employees entitled to gratuity.

Leave Encashment: Provision for leave encashment has not been made in Accounts. As per the present service rules the leave is required to be enjoyed or utilized. Hence no leave entitlement is permissible.

4. Out of 5,07,913 Equity shares of Atcom Technologies Ltd, 50,000 Equity shares held by the company are lying with the Income Tax authority in connection with a long pending income tax matter.

5. The HDFC Bank account of the company is under freeze because of the pending income tax demand. The company has obtained relief and is awaiting a defreeze order from the Income tax department.

6. Contingent Liabilities:

Pursuant of the Accounting Standard (AS 29) - Provisions, Contingent Liabilities and Contingent Assets, the disclosure relating to provisions made in the accounts for the year ended 31st March 2017 is as shown in the independent auditors report.

Pending Litigations:

There is no pending litigation.

7. The Company has only one business segment as its primary segment and hence disclosure of segment-wise information is not required under Accounting Standard -17 ''Segment information ''notified pursuant to the companies (Accounting Standard) Rules, 2006 (as amended).

8. The balance of certain Creditors, other liabilities and loans and advances are subject to confirmation /reconciliation.

9. No Provision for diminution in the value of certain long term investments has been considered necessary, since in the opinion of the management, such diminution in their value is temporary in nature considering the nature of investments, inherent value, and investees'' assets and expected future cash flows from such investments.

Note:

10. Out of Rs.425.08 lacs advanced to Subsidiaries and Companies of the same group in table 5, Rs. 143.35 lacs relates to recievables in the course of business. They have been clubbed under loans and advances for convenience.

11. Out of Rs. 157.66 lacs invested in Companies of same group and other related parties in table 6 , Rs.49.19 lacs relates to investment in shares of companies of same group.

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Mar 31, 2016

2. As per the information available with the company, there is no small scale (SSI) undertakings to whom the company owes a sum which is outstanding for more than 30 days. The company has not received any information from the supplier regarding their status under the Micro Small & Medium Enterprises Development Act, 2006 and hence disclosures, if any, relating to amount unpaid as at the end together with interest paid/ payable as required under the said Act have not been given.

3. Disclosure as per Accounting Standard 15 (Revised)

Gratuity: There are no defined benefit plans for gratuity as there are no employees entitled to gratuity.

Leave Encashment: Provision for leave encashment has not been made in Accounts. As per the present service rules the leave is required to be enjoyed or utilized. Hence no leave entitlement is permissible.

5. Out of 5,07,913 Equity shares of At com Technologies Ltd, 50,000 Equity shares held by the company are lying with the Income Tax authority in connection with a long pending income tax matter.

6. Contingent Liabilities:

Pursuant of the Accounting Standard (AS 29) - Provisions, Contingent Liabilities and Contingent Assets, the disclosure relating to provisions made in the accounts for the year ended 31st March 2015 is as shown in the independent auditors report.

7. Pending Litigations:

There is a pending litigation with Reliance Capital Ltd. in the arbitration tribunal.

8. The Company has only one business segment as its primary segment and hence disclosure of segment-wise information is not required under Accounting Standard -17 ''Segment information ''notified pursuant to the companies (Accounting Standard) Rules, 2006 (as amended).

9. The balance of certain Creditors, other liabilities and loans and advances are subject to confirmation /reconciliation.

10. No Provision for diminution in the value of certain long term investments has been considered necessary, since in the opinion of the management, such diminution in their value is temporary in nature considering the nature of investments, inherent value, and investees'' assets and expected future cash flows from such investments.

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Mar 31, 2015

1. Managerial remuneration under section 198 of the companies Act 1956, paid or payable during the financial year as under :

During the year no remuneration has been paid to the whole time directors as the remuneration has been waived by the whole time director.

2. As per the information available with the company, there is no small scale (SSI) undertakings to whom the company owes a sum which is outstanding for more than 30 days. The company has not received any information from the supplier regarding their status under the Micro Small & Medium Enterprises Development Act, 2006 and hence disclosures, if any, relating to amount unpaid as at the end together with interest paid/ payable as required under the said Act have not been given.

3. Disclosure as per Accounting Standard 15 (Revised)

Gratuity: There are no defined benefit plans for gratuity as there are no employees entitled to gratuity.

Leave Encashment: Provision for leave encashment has not been made in Accounts. As per the present service rules the leave is required to be enjoyed or utilized. Hence no leave entitlement is permissible.

4. Out of 5,07,913 Equity shares of Atcom Technologies Ltd, 50,000 Equity shares held by the company are lying with the Income Tax authority in connection with a long pending income tax matter.

5. Contingent Liabilities:

Pursuant of the Accounting Standard (AS 29) – Provisions, Contingent Liabilities and Contingent Assets, the disclosure relating to provisions made in the accounts for the year ended 31st March 2015 is as follows:

a) Sales Tax liability in respect of disputed cases amounting to Rs.25,94,078/- (Previous year Rs.25,94,078/-)

b) Central Excise liability in respect of disputed case amounting to Rs.50,00,000/- (Previous year Rs.50,00,000/-)

c) Punjab Small Industries & export Corporation Limited in respect of disputed case amounting to Rs.58,70,877/- (Previous year Rs.58,70,877/- ).

d) Sales Tax Demand aggregating to Rs.49,33,992/- relate to the year 2009-10 which had been disputed by company and appeal has been filed by company.

e) Income tax Demand aggregating to Rs.8,55,26,540 /- relate to the year 2011-12 which had been disputed by company and appeal has been filed by company.

f) Sales Tax Demand aggregating to Rs.23,96,921/- relate to the year 2010-11 which had been disputed by company and appeal will be filed by company.

g) Service Tax Liability aggregating to Rs. 4,34,000/- relating to year 2012-13 has been disputed by the Company.

6. Pending Litigations:

There is a pending litigation with Reliance Capital Ltd. in the arbitration tribunal.

7. The Company has only one business segment as its primary segment and hence disclosure of segment-wise information is not required under Accounting Standard -17 'Segment information 'notified pursuant to the companies (Accounting Standard) Rules, 2006 (as amended).

8. The balance of certain Creditors, other liabilities and loans and advances are subject to confirmation /reconciliation.

9. No Provision for diminution in the value of certain long term investments has been considered necessary, since in the opinion of the management, such diminution in their value is temporary in nature considering the nature of investments, inherent value, and investees' assets and expected future cash flows from such investments.

10. Disclosure of details required by revised para 13 of NBFC Prudential norms directions, 2007 is annexed.

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Mar 31, 2013

1. As per the Ironman Coin available with the company, there Is no small scale (551) undertakes to whom the company owes a sum Which is outranking for more than 30 days. The company has n received any information from these, Idler regarding their status under the Micro Small & Medan Eerier prizes Development Act, 2006 and hence disclosures, if a,. re1atir to amount ribald as at the end together with Interest paid/payable as required under the said A have-not been given

2. Disc lure as per According Standard 15(Revised)

Gratuity: There are no define benefit plan bar gratuity as there are only three employee entities to gratuity and the amount congruity payable In not material.

Leave Encashment: Proview for leave enzyme has not been made in A courts. as per the present which. rules the leave .squared to be Enjoyed or utilized. Hence no leave entitle meat as permissible.

3. Out of 5,07,913 Equity shares of At corn Technologies Ltd. 50000 Equity shares held by the company are lying with the Intone Tax authority in comment ion with long pending rom. tax matter.

4. Contingent Label fats:

Pursuant of the Accounting Standard (AS ) —Pr vinous Contingent Liabilities and Contingent Assets the disclosure relating to provisions mad. in the accosts for the y.uend.d3lst March 2013 Is as follows:

a) Income tie Demand aggregating to Rs231 lacs which had been disputed by company and appeal has been lied by company.

(Previous year Rs2.31 Lac3)

b) Sales Tax liability In respect of spited cases amounting to 25,94078/- (Prevails year Rs. ,94.078/-)

c) Central Excise liability in respect of disputed case amounting to r.50,00,000/- (Previous year Rs.S0,00,000/-)

d) Punjab Small nestles & port Corporation limited in respect of spited case annulling to Rs58.70.877/ (Previous year Rs.5870877/-).

5. Opera it Lease:

The Corporation has taken vane residential / communal premises radar manner under operating leases Theses lease agreements are normally renewed on expiry. The lease payments recognized in Profit & toss Account is Rs.2.8O lakhs (Precious year Rs 10.12 lathe).

6. The Company has only one business semen wise Investment as its primary segment end hence disuse of segment-wise information is not required insider Accounting Standard -17 Segment information ''rarified pursuant to the comma tees (Accouters Standard)Rules. 2CD6(as amended

7. The balance of certain Creditors other lie blitzes and bare and advances are sub act to nomination /reconciliation.

8. Provision for diminution Wt the value of certain long term cements has been coned nuclear. wince In the opinion of the management, such diminution in their value is temporary in nature considered the nature of segments. Inherent value, and invest. sassiest and expected ft ire cash flows from such .

9. In accordance with the provision can sec.205A (5) of the Compares Act, 1956. the dividend unclaimed for a panned of seven years from the date of transfers to the un poi dividend account all be creed fetor Investor Protection and Edition Famed.

10 0isdcia''e of details required by Revised Pare 13 of Non Banks( Financial Compares Pruderies None (Reserve Bank)Directions .2007. earlier Para 98B of Non Baking Financial Companies Prudential Names(Reserve Bank)Directions.3,998.: as per Annexure Attached.

11 Disclosure loans/ Advances sundials ,associate companies etc.

12. Pervious year it''s figures have regrouped and rearranged wherever necessary

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Mar 31, 2012

1. Loan from ICICI Bank is a Car loan and it is secured by way of hypothication of Car.

2. Loan from GIIC Ltd is secured by way of hypothication a company's plant and machinery and during the year company repaid the same.

3. Unsecured Loans & Advance from others represents rent discount facility from Reliance Capital Limited of Rs.23.91 lacs is repayable in 45 monthly Instalments.

Note:

1. During the year company tranfer some of the assets and capital WIP to its wholly owned subsidiries.

2. The company has examined carrying cost of its identified cash generating units by comparing present value of estimated future cash flows in terms of Accounting standard-28 on impairment of Assets according to which no provision for impairment is required as assets of none of cash generating units are impaired during the financial year ended 31st March,2012

1. Managerial remuneration under section 198 of the companies Act 1956, paid or payable during the financial year as under:

During the year no remuneration has been paid to the whole time directors as the remuneration has been waived by the whole time director.

2. As per the information available with the company, there is no small scale (SSI) undertakings to whom the company owes a sum which is outstanding for more than 30 days. The company has not received any information from the supplier regarding their status under the Micro Small & Medium Enterprises Development Act, 2006 and hence disclosures, if any, relating to amount unpaid as at the end together with interest paid/ payable as required under the said Act have not been given.

3. Disclosure as per Accounting Standard 15 (Revised)

Gratuity: There are no define benefit plan for gratuity as there are only three employee entitle to gratuity and the amount of gratuity payable is in not material.

Leave Encashment: Provision for leave encashment has not been made in Accounts, as per the present service rules the leave is required to be enjoyed or utilized. Hence no leave entitlement is permissible.

4. Out of 5,07,913 Equity shares of Atcom Technologies Ltd, 50,000 Equity shares held by the company are lying with the Income Tax authority in connection with long pending income tax matter.

5. Contingent Liabilities:

Pursuant of the Accounting Standard (AS 29) - Provisions, Contingent Liabilities and Contingent Assets, the disclosure relating to provisions made in the accounts for the year ended 31st March 2012 is as follows:

a) Income tax Demand aggregating to Rs.2.31 lacs which had been disputed by company and appeal has been filed by company. (Previous year Rs.2.31 Lacs)

b) Sales Tax liability in respect of disputed cases amounting to Rs.25,94,078/- (Previous year Rs.25,94,078/-)

c) Central Excise liability in respect of disputed case amounting to Rs.50,00,000/- (Previous year Rs.50,00,000/)

d) Punjab Small Industries & export Corporation Limited in respect of disputed case amounting to Rs.58,70,877/- (Previous year Rs.58,70,877/-).

6. Operating Lease:

The Corporation has taken various residential / commercial premises and plant machinery under operating leases. Theses lease agreements are normally renewed on expiry. The lease payments recognised in Profit & Loss Account is Rs.10.12 lacs (Previous year Rs.9.66 lacs).

7. The Company has transferred its business of Software Division and Publication Division as ongoing concern on slump sales basis w.e.f. 30th September,2011 to its wholly owned subsidiaries company Edesk Services Ltd and Innovamedia Publication Limited respectively.

8.The Company has only one business segment wise Investment as its primary segment and hence disclosure of segment-wise information is not required under Accounting Standard -17 'Segment information 'notified pursuant to the companies (Accounting Standard) Rules, 2006(as amended).

9.The balance of certain Creditors, other liabilities and loans and advances are subject to confirmation/reconciliation.

10. No Provision for diminution in the value of certain long term investments has been considered necessary, since in the opinion of the management, such diminution in their value is temporary in nature considering the nature of investments, inherent value, and investees' assets and expected future cash flows from such investments.

11.In accordance with the provision of sec.205A (5) of the Companies Act, 1956, the dividend unclaimed for a period of seven years from the date of transfers to the unpaid dividend account shall be credited to Investor Protection and Education Fund.

12. During the year ended 31st march 2012,the revised scheduleVI notified under the companies Act,1956,has become applicable to the company.Thus previous year figures has been reclassified/recasted suitable.The adoption of revised schedule VI does not impact recognition and measurement principles followed for preparation of financial statements except for presentation and disclosures,wherever required.

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Mar 31, 2010

1. Segment Reporting: - As per Annexure 1.

2. Related Party Disclosure: - As per Annexure 2.

3. Particulars of goods manufactured/ traded in: - As per Annexure 3.

4. Value of imports calculated on CIF basis Rs. - As per Annexure 4. (Previous year Rs. Nil)

5. Expenditure in Foreign Currency :- Rs. As per Annexure 4.(Previous year Rs. Nil)

6. Excise duty of Rs. Nil/- (Previous year Rs.12,251/-) Payable on f nished goods lying in stock is provided for as per accounting standards 2 ofiThe Institute of Chartered Accountants of India.

7. Company has kept various fixed deposit with the banks and others amounted to Rs. 43.89 Lacs (Previous year Rs.24.59 Lacs). Out ofithis deposits amounting to Rs. 35 lacs are kept in No Lien account as per the BIFR order received for settlement ofiterm loan with GIIC. Remaining deposits were kepThat the various places for dif erent purposes. Interest provision on such deposiThis not made as company is in the process of ascertaining the exact amount of interest receivable on such deposits.

8. Secured Term Loan from GIIC Ltd is against Plant & Machinery at Daman Factory and personal Guarantees by two promoting Directors.

9. As per the information available with the company, there is no small scale undertakings to whom the company owes a sum which is outstanding for more than 30 days.

10. Whole Time Directors Remuneration:

During the year no remuneration has been paid to the whole time directors as the remuneration has been waived by the whole time director. (Previous year Rs. Nil).

11.50,000 Equity shares of Atcom Technologies Ltd held by the company are lying with the Income Tax authority in connection with long pending income tax matter.

12.Previous year figures have been regrouped, rearranged wherever necessary.