- Estimated amounts of contracts remaining to be executed on capital account and not provided for (Net of advances) Rs. 758.63 lacs.

2. The paid up share capital and calls in arrear are pending for reconciliation. There is a difference of Rs. 27000/- between the amount as per financial books and amount as per secretarial records. No interest provision on unpaid calls have been made.

3. Debit and credit balances in the accounts of debtors, suppliers and other parties are subject to their respective confirmation and reconciliation.

4. All the previous year figures have been regrouped, rearranged & recast wherever necessary.

5. The Company has written off bad debts amounting to Rs. 6.69 lacs during the year.

6. On the basis of physical verification of assets & cash generation capacity of these assets, in the management perception, there is no impairment of assets as on date.

7. In the opinion of the management, the current assets, loans and advances are approximately of the value stated, if realized in the ordinary course of business. The provision for all known liabilities are adequate and not in excess of the amount considered reasonably necessary.

8. Security deposits outstanding as on 31.03.2014 Rs. 1503.75 lacs has been received against rent receivables from Bechtel India Pvt. Ltd., the tenant.

9. Related party disclosures :

i) Related Parties

a) Related enterprises

*) Panchkula Agro Foods Ltd.

b) Key Managerial personal

*) Mr. R.S. Malik

*) Mr. Sanjeet Malik

*) Mrs. Nirmala Malik

ii) Transaction with related parties

*) Rent paid to Panchkula Agro Foods Ltd. Rs. 4800000/-.

*) Rent paid to Mrs. Nirmala Malik Rs. 1080000/-.

*) Remuneration to Mr. Sanjeet Malik Managing Director

*) Remuneration R.S. Malik Chairman - Salary Rs. 4200000/-

10. i) The company follows deferred tax method of accounting. The company has accounted the cumulative net deferred tax liability written back in respect of timing differences between book & tax profits as on 31.3.2014. Further, written down value of buildings and depreciation thereon has not been considered for the purpose of calculating deferred tax liabilities due to permanent difference which is not capable of reversal.

ii) Deferred tax assets & liabilities are attributable to the following items.

11. The income from BPO Service Rs.102466096/- (PreviousYear Rs. 179952212/-) thereon in foreign currency has been booked on the basis of the Indian currency realized.

12. The Directors have foregone their sitting fee for Board meetings & various committee meetings.

13. The Company had received a demand of House Tax payable amounting to Rs. 1,94,99,304/- for the financial year 2008 09 and 2009-10 from the Municipal Corporation Gurgaon against the above demand the Company has paid a sum of Rs. 22,11,534/-.

The Company has also paid a sum of Rs. 15,69,476/- as House Tax for the financial year 2010-11 and 2011-12, on the basis of self assessment policy of Municipal Corporation.

The company has not received any notice from the Municipal Corporation in the Current FinancialYear as to the assessment of House Tax. The same will be provided as and when the assessment is received.

14. The Company has not received any communication from any of its suppliers/service provider in respect of letter issued by the Company, confirming whether or not they are covered under the Micro, Small and Medium Enterprises Development Act, 2006. In the absence of any confirmation from the suppliers/service providers, the information as required to be disclosed under the said Act, (MSME Act) could not be determined.

15. Additional information pursuant to the provisions of paragraph 3, 4C, 4 D of part II of Schedule VI to the companies Act, 1956.

16. SEGMENT REPORTING

Business Segment have been considered as the primary segment. The company is organised into 3 business segments namely.

i. Rent Income

ii. Office back up operations

ii. Real Estate

Segment Revenue, result, assets & liabilities have been accounted for on the basis of their relationship to the operating activities of the segment & amounts allocated on a reasonable basis.