Notes to Accounts of Conart Engineers Ltd.

Mar 31, 2015

NOTE - "1" :

BACKGROUND

Conart Engineers Limited

listed company and is engaged providing full range of General Contracting and Project Management Services for Industrial, Commercial, and Residential Construction projects. We service to sectors like Heavy Machinery, Pharmaceuticals, Chemicals, Textiles, and Educational. Our experience has been Four decades long. Majority of our projects are awarded from Private Sectors clients and are based on At-Risk Contracting.

NOTE - "2" :

(a) SHARE CAPITAL

a) Terms / rights attached to equity shares :

The Company has only one class of shares referred to as equity shares having a par value of Rs.10/- per share. Each holder of equity shares is entitled to one vote per share.

In the event of liquidation of the Company, the equity share holders 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.

NOTE - "3" :

DETAILS OF DEFERD TAX LIABILITY

The Company has during the year in accordance with Account Standard AS-22 "Accounting for Taxes on Income " issued by the Institute of Chartered Accountants of India ", Recognized in the profit & loss accounts a difference of Rs.16,05845/- Between net, deferred tax liabilities of Rs.12,50,539/- As on 31st March 2015 and on the deferred tax liabilities of Rs.28,56,384/-As on 31st March,2014

NOTE - "4" :

CONTINGENT LIABILITIES

Guarantee given to the Bank Rs.19,00,000/-(Previous Year Rs. 1,11,46,952/-)

NOTES - "5"

Estimated amount of contract remaining to be executed on capital account and not provided for is Nil (Previous year Nil).

Since the company is operating in one segment i.e. construction, segment wise reporting is not applicable.

Sundry Debtors and Creditors & advance are subjected to confirmation by the respective parties. Necessary Adjustments in account will be made in the year in which discrepancy, if any, may be noticed.

NOTE - "6"

Sundry Loan & Advances and other assets are, in the opinion of management stated at the amount realizable in the ordinary course of business and provision for all known and determined liabilities are adequate and not in excess of the amounts reasonably required.

NOTE - "7"

There are no delays in payments to Micro and Small enterprises as required to be disclosed under the Micro, Small and Medium enterprises development act 2006. This information has been determined to the extent such parties have been identified on the basis of information available with the Company. This has been relied upon by the auditors.

Figures have been rounded off to the nearest rupee.

NOTE - "8"

Previous year figures have been regrouped / reclassified wherever necessary.

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Mar 31, 2014

Notes to Accounts - "1"

BACKGROUND

Conart Engineers Limited is a listed company and is engaged providing full range of General Contracting and Project Management Services for Industrial, Commercial, and residential Construction projects. We service to sectors like Heavy Machinery. Pharmaceuticals, Chemicals, Textiles, and Educational. Our experience has been Four decades long. Majority of our projects are awarded from Private Sectors cilents and are based on At-Risk Contracting.

Notes to Accounts - "2"

Sundry Debtors and Creditors & advance are subjected to confirmation by the respective parties. Necessary Adjustments in account will be made in the year in which discrepancy, if any, may be noticed.

Notes to Accounts - "3"

Sundry Loan & Advances and other assets are, in the opinion of management stated at the amount realizable in the ordinary course of business and provision for all known and determined liabilities are adequate and not in excess of the amounts reasonably required.

Notes to Accounts - "4"

There are no delays in payments to Micro and Small enterprises as required to be disclosed under the Micro, Small and Medium enterprises development act 2006. This information has been determined to the extent such parties have been identified on the basis of information available with the Company. This has been relied upon by the auditors.

Notes to Accounts - "5"

Previous year figures have been regrouped / reclassified wherever necessary.

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Mar 31, 2013

1. CONTINGENT LIABILITIES

Guarantee given to the Bank Rs.1,11,46,952/-(Previous year Rs..1,89,13,000/-)

2. Estimated amount of contract remaining to be executed on capital account and not provided for is Nil (Previous year Nil).

3. Sundry Debtors and Creditors & advance are subjected to confirmation by the respective parties. Necessary Adjustments in account will be made in the year in which discrepancy, if any, may be noticed.

4. Sundry Loan & Advances and other assets are, in the opinion of management stated at the amount realizable in the ordinary course of business and provision for all known and determined liabilities are adequate and not in excess of the amounts reasonably required.

5. There are no delays in payments to Micro and Small enterprises as required to be disclosed under the Micro, Small and Medium enterprises development act 2006. This information has been determined to the extent such parties have been identified on the basis of information available with the Company. This has been relied upon by the auditors.

6. Figures have been rounded off to the nearest rupee.

7. Previous year figures have been regrouped / reclassified wherever necessary.

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Mar 31, 2012

Personal Guarantee of the following properties.

1) Office No-35 belong to Mr. Tejas V Sura, Mr Jimish J Sura, MsTeena H Gandhi, Ms Shweta D Shah, Ms Prachi J Sura at Manoj Ind Premises, Wadala, Mumbai 2) Office No - 36 belong to Ramesh S Sura ( HUF ), Vinod S Sura ( HUF ) and Jitendra S Sura ( HUF ) at Manoj Ind Premises, Wadala, Mumbai

3) Resi property Spun Villa Plot No - 2 , Vadodara, belong to Mr Jitendra Sura, MD , Conart Engg Ltd.

4) Office Premises No -11 to 16 2nd floor Bombay Shopping Centre Vadodara ad measuring about 5942 sq ft belong to Mr Tejas Sura, Mr Pradip Sura, Mr Jimish Sura and Ms Prachi Sura. — Personal guarantee/s of Mr Jitendra S Sura, Mr Tejas V.Sura, Mr Jimish J Sura, Mr Pradip Sura, Ms Prachi Sura, Ms Shweta D Shah, Ms Teena H Gandhi as well as and the adult co-parcenors of Ramesh S Sura (HUF),Vinod S Sura (HUF), and Jitendra S Sura(HUF)

1. CONTINGENT LIABILITIES

Guarantee given to the Bank Rs.1,89,13,000/-(Previous year Rs..2,24,35,500/-)

As employee-wise break-up of contribution to group gratuity scheme is not ascertainable, the amounts related to the individual Director have not been included above.

2. Earning in foreign Currency: ;

3. Since the company is operating in one segment i.e. construction, segment wise reporting is not applicable.

4. Name and Nature of Transaction with related parties: 2011-2012 Name of Related Parties & Nature of Transaction Value of Transaction

5. Sundry Debtors and Creditors & advance are subjected to confirmation by the respective parties. Necessary Adjustments in account will be . made in the year in which discrepancy, if any, may be noticed.

6. Sundry Loan & Advances and other assets are, in the opinion of management stated at the amount realizable in the ordinary course of business and provision for all known and determined liabilities are adequate and not in excess of the amounts reasonably required.

7. There are no delays in payments to Micro and Small enterprises as required to be disclosed under the Micro, Small and Medium enterprises development act 2006. This information has been determined to the extent such parties have been identified on the basis of information available with the Company. This has been relied upon by the auditors.

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Mar 31, 2010

1. CONTINGENT LIABILITIES

a) Guarantee given to the Bank Rs.3,37,45,776/-(Previous year Rs.93,08,870/-)

b) Income tax demand of Rs.8,84,945/-against which appeal is pending. (Previous year Rs.13,72,338/-)

2. Estimated amount of contract remaining to be executed on capital account and not provided for is Nil (Previous year Nil).

3. Since the company is operating in one segment i.e. construction, segment wise reporting is not applicable.

4. Sundry Debtors and Creditors & advance are subjected to confirmation by the respective parties. Necessary Adjustments in account will be made in the year in which discrepancy, if any, may be noticed.

5. Sundry Loan & Advances and other assets are, in the opinion of management stated at the amount realizable in the ordinary course of business and provision for all known and determined liabilities are adequate and not in excess of the amounts reasonably required.

6. There are no delays in payments to Micro and Small enterprises as required to be disclosed underthe Micro,Small and Medium enterprises development act 2006. This information has been determined to the extent such parties have been identified on the basis of information available with the Company. This has been relied upon by the auditors.

7. Figures have been rounded off to the nearest rupee.

8. Previous year figures have been regrouped / reclassified wherever necessary.