Notes to Accounts of ACE Software Exports Ltd.

Mar 31, 2015

1. Company Overview:

Ace Software Exports Limited (ASEL or Company) was incorporated on August 17, 1994 under the provisions of the Companies Act, 1956. ASEL's shares are listed on Bombay Stock Exchange Ltd., Mumbai. ASEL is mainly engaged in the business of creation of Database.

2 Segment Reporting:

The company's operations fall under single segment namely Computer Software and Services Exports, hence Segment wise information is not furnished.

3 The outstanding balances as at 31.03.2015 in respect of certain Sundry Creditors, Loans & Advances and deposits are subjected to confirmation from respective parties and consequential reconciliation and or adjustments arising there from, if any. The Management, however, does not expect any material variation.

4 According to the opinion of the Management the value of realization of current assets, loans & advances and other receivables in the ordinary course of business would not be less than the amount at which they are stated in the Balance Sheet.

5 Previous year's figures have been regrouped / rearranged wherever necessary to make them comparable.

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Mar 31, 2014

1 Segment Reporting:

The company''s operations fall under single segment namely Computer Software and Services Exports, hence Segment wise information is not furnished.

2 Contingent Liabilities NIL

3 The outstanding balances as at 31.03.2014 in respect of certain Sundry Creditors, Loans & Advances and deposits are subjected to confirmation from respective parties and consequential reconciliation and or adjustments arising there from, if any. The Management, however, does not expect any material variation.

4 According to the opinion of the Management the value of realization of current assets, loans & advances and other receivables in the ordinary course of business would not be less than the amount at which they are stated in the Balance Sheet.

5 Previous year''s figures have been regrouped / rearranged wherever necessary to make them comparable.

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Mar 31, 2013

1 Segment Reporting:

The company''s operations fall under single segment namely Computer Software and Services Exports, hence Segment wise information is not furnished.

2 Contingent Liabilities NIL

3 The outstanding balances as at 31.03.2013 in respect of certain Sundry Creditors, Loans & Advances and deposits are subjected to confirmation from respective parties and consequential reconciliation and or adjustments arising there from, if any. The Management, however, does not expect any material variation.

4 According to the opinion of the Management the value of realization of current assets, loans & advances and other receivables in the ordinary course of business would not be less than the amount at which they are stated in the Balance Sheet.

5 Previous year''s figures have been regrouped / rearranged wherever necessary to make them comparable.

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Mar 31, 2012

1 Contingent Liabilities NIL

2 The outstanding balances as at 31.03.2012 in respect of certain Sundry Creditors, Loans & Advances and deposits are subjected to confirmation from respective parties and consequential reconciliation and or adjustments arising there from, if any. The Management, however, does not expect any material variation.

3 According to the opinion of the Management the value of realization of current assets, loans & advances and other receivables in the ordinary course of business would not be less than the amount at which they are stated in the Balance Sheet.

4 Previous year's figures have been regrouped / rearranged wherever necessary to make them comparable.

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Mar 31, 2010

I Contingent Liabilities NIL

II The outstanding balances as at 31.03.2010 in respect of certain Sundry Creditors, Loans & Advances and deposits are subjected to confirmation from respective parties and consequential reconciliation and or adjustments arising there from, if any. The Management, however, does not expect any material variation.

III According to the opinion of the Management the value of realization of current assets, loans & advances and other receivables in the ordinary course of business would not be less than the amount at which they are stated in the Balance Sheet.

IV Previous years figures have been regrouped / rearranged wherever necessary to make them comparable.