SIGNIFICANT ACCOUNTING POLICY :

Basis of Accounting :

The financial statements are brpared under historical cost convention, on an accrual basis and in accordance with relevant brsentational requirements of the Companies Act, 2013 and the applicable mandatory Accounting Standards as brscribed under section 133 of Companies Act, 2013 read with rule 7 of the Companies (Accounts) Rules, 2014.

Inventories:

Inventories of shares are valued at cost computed on FIFO Basis or fair value, which ever is lower.

Recognition of Income and Expenditure :

Income and expenditure are accounted for on accrual basis. Interest income is recognized on a time proportion basis taking into account the amount outstanding and the rate applicable. Dividend income is recognized when the shareholder’s right to receive payment is established by the balance sheet date.

Debrciation on Fixed Assets:

Debrciation on Fixed Assets has been provided based on useful life assigned to each asset brscribed in accordance with Part - "C" of Schedule-II of the Companies Act, 2013.

Fixed Assets:

Fixed Assets are stated at cost less accumulated debrciation and impairment losses, if any.

Cost comprises the purchase price and any attributable cost of bringing the asset to its working condition for its intended use.

Impairment of Assets:

I. The carrying amounts of assets are reviewed at each balance sheet date if there is any indication of impairment based on internal/external factors. An impairment loss is recognized wherever the carrying amount of an asset exceeds its recoverable amount.

The recoverable amount is the greater of the asset's net selling price and value in use.

In assessing the value in use, the estimated future cash flows are discounted to their brsent value at the weighted average cost of capital.

II. After impairment, debrciation is provided on the revised carrying amount of the assets over its remaining useful life.

Investment :

Investments that are readily realizable and intended to be held for not more than a year are classified as Current Investments. All other Investments are classified as Non Current Investments. Current Investments are stated at lower of cost and market rate on an individual investment basis. Non Current Investments are considered ‘at cost’ on individual investment basis, unless there is a decline other than temporary in the value, in which case adequate provision is made against such diminution in the value of investments.

Earnings per share:

• Earnings per share are calculated by dividing the net profit or loss for the year attributable to equity shareholders, by the weighted average number of equity shares outstanding during the year.

• For the purpose of calculating diluted earnings per share, the net profit or loss for the year attributable to equity shareholders and weighted average number of shares outstanding during the year is adjusted for the effects of all dilutive potential equity shares.

Provision and Deferred Tax :

The Provision for current tax is made after taking into consideration benefits admissible under the provisions of the Income Tax Act, 1961.

Deferred Tax resulting from “timings difference” between book and taxable profit is accounted for using the tax rates and laws that have been enacted or substantially enacted as on the Balance Sheet date. The Deferred Tax Asset is recognized and carried forward only to the extent that there is a reasonable certainty that the assets will be realized in future.

Contingencies:

These are disclosed by way of notes on the Balance sheet. Provisions is made in the accounts in respect of those contingencies which are likely to materialize into liabilities after the year end , till the finalization of accounts and material effect on the position stated in the Balance Sheet .

PROVISIONING FOR STANDARD ASSETS :

The Reserve Bank Of India vide Notification No DNBS 223/CGM (US) 2011 DATED 17 JANUARY, 2011 has issued direction to all NBFCs to make provision of 0.25% on STANDARD ASSETS with immediate effect. Accordingly the Company has made provision @ 0.25%.

NOTE 2 OTHER NOTES ON ACCOUNTS

i Based on the information / documents available with the Company, no creditor is covered under Micro, Small and Medium Enterprise Development Act, 2006. As a result, no interest provision/payments have been made by the Company to such creditors for the year ended 31st March 2015.

ii Loans & advances balances are subject to confirmation by the respective parties .

iii Segment Report :

The Company is engaged in the business of Non-Banking Financial Services and there are no separate reportable segments as per Accounting Standard 17.

iv. The Company has Complied this information based on the current information in its possession. As at 31.03.2015, No Amount due to Micro Small and Medium Enterises as on 31.03.2015 Rs. NIL ( PY Rs. NIL )

v. The Financial Statements and Notes on Accounts has been brpared as per the Companies Act, 2013 with their Schedule as the same is effective from 1st April, 2014.

Vi . Effective from 1st April, 2014, the Company has charged debrciation based on the useful life of the assets as per the requirement of Schedule II of the Companies Act, 2013. It has recomputed the debrciation on various fixed assets in accordance with and in the manner brscribed with Part C of Schedule II of the Companies Act, 2013. The aggregate difference between the debrciation so computed as per the companies Act, 2013 till 31st March, 2014 and the debrciation charged in the accounts till 31st March, 2014 has been debited to the opening balance of profit & Loss Account.

vii. Provision for taxation on Income for the year has been made under the tax calculated on income under normal computation as per income tax act being higher than the tax computed under section 115JB of the income tax act.

viii. The management has assessed that there is no impairment of Fixed assets requiring provisions in the accounts.

ix Deferred Taxation :

The company will recogonise the deferred tax liabilities/assets on the timing differences for the period in which there is virtual certainty of future income by way of prudence in accordance with AS-22 " Accounting For Taxes On Income " issued by the Institute of Chartered Accountants of India.

x. No Provision has been made on account of gratuity as none of the employees have put in completed years of Service as required by the payment of Gratuity Act

xi No provision has been made on account of leave salary as there are no leave to the credit of employees as at the end of the year

xii. Previous Year figures have been regrouped, rearranged or recasted wherever considered necessary.

xiii. Information’s required to be furnished under paragraph 9BB of Non-Banking Financial Companies Prudential Norms (Reserve Bank) Directions, 1998 is given in separate Annexure.

For and on behalf of the Board

SAGARMAL NAHATA

SANDIP KUMAR BEJ

VIVEK KHANDELWAL

In terms of our report of even date

For C.GHATAK & CO.

(CHARTERED ACCOUNTANTS)

 ( CHINMAY GHATAK)

(Partner )

M.No : 003591

Firm Reg No : 302162E

Place: Kolkata

Date: 14.08.2015