Notes to Accounts of Consecutive Investments & Trading Company Ltd.

Mar 31, 2015

1. Contingent liability in respect of disputed Income Tax Demand of Rs. 2039963.00 for A.Y. 2011-12 (Previous Year Rs. 2039963.00)

2. No provision has been made in respecty of gratuity payable as no employee has yet put In qualifying period of service for entitlement of the benefits.

3. Taxation Current Tax:

No provision for Income Tax (Current Tax) is made in the current year in view of the computation of income resulting in a loss in accordance with the provision of the Income Tax Act, 1961, and further, there is no "book profit", as envisaged in Section 115JB of the Income Tax Act because of brought forward losses as per books or account

Deferred Tax:

The Company has unabsorbed depreciation and carried forward losses available for set-off under the Income Tax Act, 1961. However, in view of present uncertainty regarding generation of sufficient future taxable income, net deferred tax assets at the year end including related credit / debit for the year have not been recognized In these accounts on prudent basis.

4. The Company has mainly one reportable business and geographical segment and hence no further disclosure is required under Accounting Standard (AS)17 on Segment Reporting issued by the Institute of Chartered Accountants

5. There was no balance due to Micro and Small Enterprises as defined under the MSMED Act, 2006. Further no interest during the year has been paid or payable under the terms of MSMED Act, 2006.

6. There are no derivative instruments either for hedging or for speculation outstanding as at 31st March 2015.

7. There are no long term contracts as on 31st March, 2015 for which there are any material foreseeable losses.

8. Balances in parties accounts are subject to confirmation / reconciliation. Appropriate adjustments, If any, will be made as and when the balances are reconciled.

9. Any of the assets other than fixed assets and non current investments have the value on realization in the ordinary course of business equal to the amount at which they are stated, subject to amounts not realized on full and final settlement / disposal.

10. There are no amounts due and outstanding to be credited to Investor Education and Protection Fund.

11. in view of Accounting Standard 28 on Impairment of Assets issued by the Institute of Chartered Accountants of India, the Company has reviewed its fixed assets and does not expect any loss as on 31st March 2015 on account of impairment.

12. Depreciation of Rs. 191 on account of assets whose useful life is already exhausted on April 01, 2014 has been adjusted against Retained earnings pursuant to adoption of estimated useful life of fixed assets as stipulated by Schedule II of Companies Act, 2013.

13. Related Party Disclosures

Party disclosures as required by Accounting Standard 18 "Related Party Disclosures"

A. List of Related Parties (As identified by the Management)

(i) Key Management Personnel:

Mr. Vijay Kumar Jain

(ii) Individuals having control or significant over the company by reason of voting power, and their relatives:

Mrs. Kiran Devi Jain

Mr. Vijay Kumar Jain

Mrs. Chandrakala Jain

Mr. Niraj Jain

Mr. Santosh Kumar Jain

Nirmal Kumar Jain (HUF) (Hi) Entities over which control is exercised by individuals listed in (ii) above

Dhanlaxml Resources (P) Ltd

M.Nirmal Kumar (P) Ltd

P.S. Synthetics (P) Ltd

Jain Holdings (P) Ltd

Mod Mind Consultancy (P) Ltd

Saraogi Holdinds (P) Ltd

Trident India Ltd

Big Shop

14. prior year comparatives

Previous year's figures have been regrouped/reclassified wherever necessary to correspond with the current year's classification / disclosure.

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Mar 31, 2014

1. Terms/rights attached to equity shares

The Company has only one class of equity shares having a par value of Rs. 10 per share. Each holder of equity shares is entitled to one vote per share. The Company declares and pays dividends in Indian Rupees. The dividend, if any, proposed by the Board of Directors is subject to the approval of the shareholders in the ensuing Annual General Meeting.

In the event of liquidation of the Company, the holders of equity shares will be entitled to receive remaining assets of the company, after distribution of all preferential amounts, if any. The distribution will be in proportion to the number of equity shares held by the shareholders.

2. Contingent liability in respect of disputed Income Tax Demand Rs. 2039963.00 for A.Y. 2011-12 (Previous year Rs. 2039963.00)

3. The Company does not have any employee and hence the provisions of the Payment of Gratuity Act 1972 are not applicable.

4. Taxation

Current Tax:

No provision for Income Tax (Current Tax) is made in the current year in view of the computation of income resulting in a loss in accordance with the provision of the Income Tax Act, 1961, and further, there is no "book profit", as envisaged in section 115JB of the Income Tax Act because of brought forward losses as per books or account.

Deferred Tax:

The Company has unabsorbed depreciation and carried forward losses available for set-off under the Income Tax Act, 1961. However, in view of present uncertainty regarding generation of sufficient future taxable Income, net deferred tax assets at the year end Including related credit / debit for the year have not been recognized in these accounts on prudent basis.

5. As the Company is not carrying any operations, there are no reportable segments, as required by AS- 17 Segment Reporting''.

6. There was no balance due to Micro and Small Enterprises as defined under the MSMED Act, 2006. Further no interest during the year has been paid or payable under the terms of MSMED Act, 2006.

7. Debts over six months amounting to Rs. 6318.30 (Previous year Rs. 6318.30) are long overdue but in the opinion of the management, they are fully recoverable and the same hove been classified as good.

8. Balances In parties accounts are subject to confirmation / reconciliation. Appropriate adjustments, If any, will be made as and when the balances are reconciled.

9. Any of the assets other than fixed assets and non current investments have the value on realisation in the ordinary course of business equal to the amount at which they are stated, subject to amounts not realised on full and final settlement / disposal.

10. There are no amounts due and outstanding to be credited to Investor Education and Protection Fund.

11. In view of Accounting Standard 28 on Impairment of Assets issued by the Institute of Chartered Accountants of India, the Company has reviewed its fixed assets and not expect any loss as on 31st March 2014 on account of impairment.

12. Prior year comparatives

Previous year''s figures have been regrouped/reclassified wherever necessary to correspond with the current year''s classification / disclosure.

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Mar 31, 2013

1. Terms/rights attached to equity shares

The Company has only one class of equity shares having a par value of Rs. 10 per share. Each holder of equity * shares is entitled to one vote per share. The Company declares and pays dividends in Indian Rupees. The dividend, if any, proposed by the Board of Directors is subject to the approval of the shareholders in the ensuing Annual General Meeting.

In the event of liquidation of the Company, the holders of equity shares will be entitled to receive remaining assets of the company, after distribution of all preferential amounts, if any. The distribution will be in proportion to the number of equity shares held by the shareholders.

2. Contingent liability in respect of disputed Income Tax Demand Rs. 234840/- (Previous year Rs. 234840/-)

3. The Company does not have any employee and hence the provisions of the Payment of Gratuity Act 1972 are not applicable.

4. Taxation

Current Tax:

No provision for Income Tax (Current Tax) is made in the current year in view of the computation of income resulting in a loss in accordance with the provision of the Income Tax Act, 1961, and further, there is no "book profit", as envisaged in section 115JB of the Income Tax Act because of brought forward losses as per books or account.

Deferred Tax:

The Company has unabsorbed depreciation and carried forward losses available for set-off under the Income Tax Act, 1961. However, in view of present uncertainty regarding generation of sufficient future taxable Income, net deferred tax assets at the year end Including related credit / debit for the year have not been recognized in these accounts on prudent basis.

5. As the Company is not carrying any operations, there are no reportable segments, as required by AS- 17 Segment Reporting''.

6. There was no balance due to Micro and Small Enterprises as defined under the MSMED Act, 2006. Further no interest during the year has been paid or payable under the terms of MSMED Act, 2006.

7. Debts over six months amounting to Rs. 6318.30 (Previous year Rs. 6318.30) are long overdue but in the opinion of the management, they are fully recoverable and the same hove been classified as good.

8. Balances In parties accounts are subject to confirmation / reconciliation. Appropriate adjustments, If any, will be made as and when the balances are reconciled.

9. Any of the assets other than fixed assets and non current investments have the value on realisation in the ordinary course of business equal to the amount at which they are stated, subject to amounts not realised on full and final settlement / disposal.

10. There are no amounts due and outstanding to be credited to Investor Education and Protection Fund.

11. In view of Accounting Standard 28 on Impairment of Assets issued by the Institute of Chartered Accountants of India, the Company has reviewed its fixed assets and not expect any loss as on 31st March 2012 on account of impairment.

12. Prior year comparatives

Previous year''s figures have been regrouped/reclassified wherever necessary to correspond with the current year''s classification / disclosure.

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Mar 31, 2012

1. Terms/rights attached to equity shares

The Company has only one class of equity shares having a par value of Rs. 10 per share. Each holder of equity * shares is entitled to one vote per share. The Company declares and pays dividends in Indian Rupees. The dividend, if any, proposed by the Board of Directors is subject to the approval of the shareholders in the ensuing Annual General Meeting.

In the event of liquidation of the Company, the holders of equity shares will be entitled to receive remaining assets of the company, after distribution of all preferential amounts, if any. The distribution will be in proportion to the number of equity shares held by the shareholders.

2. Contingent liability in respect of disputed Income Tax Demand Rs. 234840/- (Previous year Rs. 234840/-)

3. The Company does not have any employee and hence the provisions of the Payment of Gratuity Act 1972 are not applicable.

4. Taxation

Current Tax:

No provision for Income Tax (Current Tax) is made in the current year in view of the computation of income resulting in a loss in accordance with the provision of the Income Tax Act, 1961, and further, there is no "book profit", as envisaged in section 115JB of the Income Tax Act because of brought forward losses as per books or account.

Deferred Tax:

The Company has unabsorbed depreciation and carried forward losses available for set-off under the Income Tax Act, 1961. However, in view of present uncertainty regarding generation of sufficient future taxable Income, net deferred tax assets at the year end Including related credit / debit for the year have not been recognized in these accounts on prudent basis.

5. As the Company is not carrying any operations, there are no reportable segments, as required by AS- 17 Segment Reporting''.

6. There was no balance due to Micro and Small Enterprises as defined under the MSMED Act, 2006. Further no interest during the year has been paid or payable under the terms of MSMED Act, 2006.

7. Debts over six months amounting to Rs. 6318.30 (Previous year Rs. 6318.30) are long overdue but in the opinion of the management, they are fully recoverable and the same hove been classified as good.

8. Balances In parties accounts are subject to confirmation / reconciliation. Appropriate adjustments, If any, will be made as and when the balances are reconciled.

9. Any of the assets other than fixed assets and non current investments have the value on realisation in the ordinary course of business equal to the amount at which they are stated, subject to amounts not realised on full and final settlement / disposal.

10. There are no amounts due and outstanding to be credited to Investor Education and Protection Fund.

11. In view of Accounting Standard 28 on Impairment of Assets issued by the Institute of Chartered Accountants of India, the Company has reviewed its fixed assets and not expect any loss as on 31st March 2012 on account of impairment.

12. Prior year comparatives

Previous year''s figures have been regrouped/reclassified wherever necessary to correspond with the current year''s classification / disclosure.

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Mar 31, 2011

1. Contingent liability in respect of disputed Income Tax Demand Rs. 234840 (Previous year Rs. - 234840)

2. The Company does not have any employee and hence the provisions of the Payment of Gratuity Act, 1972 are not applicable.

3. Taxation

4. Current Tax:

In view of book profits and no taxable profits, as per computation of income, the provision for tax has been made as per MAT under section 115 JB of the Income tax Act 1961.

5. Deferred Tax:

The Company has unabsorbed depreciation and carried forward losses available for set-off under the Income Tax Act, 1961. However, in view of present uncertainty regarding generation of sufficient future taxable income, net deferred tax assets at the year end including related credit / debit for the year have not been recognized in these accounts on prudent basis.

6. The Company has mainly one reportable business and geographical segment and hence no further disclosure is required under Accounting Standard (AS) 17 on Segment Reporting issued by the Institute of Chartered Accountants of India.

7. The Company has no amounts due to any micro, small and medium enterprises as defined under section 7(i)(a) / 7(i)(b) / 7(i)(c) of Micro, Small and Medium Enterprises Development Ac, 2006 as on March 31, 2011. Further, no interest during the year has been paid or payable under the terms of the Micro, Small and Medium Enterprises Development Act, 2006

8. Debts over six months amounting to Rs. 6318.30 (Previous year Rs. 6318.30) are long overdue but in the opinion of the management, they are fully recoverable and the same have been classified as good.

9. Balances with Debtors, Creditors and for Loans and Advances are subject to confirmations form the respective parties.

10. The Currant Assets, Loans and Advances are stated at the value, which in the opinion of the board, are realizable in the ordinary course of the business. Current Liabilities and Provision are stated at the value payable in the ordinary course of the business.

11. The information pursuant to Clause 4, 4-A, 4-C and 4-D of Part II of Schedule VI to the Companies Act, 1956 have not been furnished as these are not applicable the the Company.

12. Interest received is gorss of tax deducted at source of Rs, 0.00 (Previous year Rs.7756.00)

13. There are no amounts due and outstanding to be credited to Investor Education and Protection Fund.

14. In view of Accounting Standard 28 on Impairment of Assets issued by the Institute of Chartered

15. Accountants of India, the Company has reviewed its fixed assets and does not expect any loss as on 31sl March 2011 on account of impairment.

16. Related Party Disclosures

Related party disclosures as required by Accounting Standard 18 "Related Party Disclosures"

17. List of Related Parties (As identified by the Management)

i. Individuals holding 20% or more voting rights.

Vijay Kumar Jain Smt. Kiran Devi Jain

ii. Key Management personnel and their relatives. Directors : Vijay Kumar Jain

Relatives :

Santosh Kumar Jain (HUF) Smt. Kiran Devi Jain Smt. Chandrakala Jain Niraj Jain Santosh Kumar Jain

iii. Enterprises owned or significantly influenced by key management personnel or their relatives. M. Nirmal Kumar (P) Limited

18. Schedules 1 to 10 are annexed to and form an integral part of the Balance Sheet and Profit and Loss Account.

19. Previous year's figures have been re-grouped wherever necessary.

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Mar 31, 2010

1.Contingent liablity in respect of disputed Tax Demand Rs.234840

2. The Company does not have any employee and hence the provisions of the Payment of Gratuity Act, 1972 are not applicable.

3. Taxation Current Tax:

In view of book profits and no taxable profits, as per computation of income, the provision for tax has been made as per MAT under section 115 JB of the Income tax Act 1961.

Deferred Tax:

The Company has unabsorbed depreciation and carried forward losses available for set-off under the Income Tax Act, 1961. However, in view of present uncertainty regarding generation of sufficient future taxable income, net deferred tax assets at the year end including related credit / debit for the year have not been recognized in these accounts on prudent basis.

4. The Company has mainly one reportable business and geographical segment and hence no further disclosure is required under Accounting Standard (AS) 17 on Segment Reporting issued by the Institute of Chartered Accountants of India.

5. The Company has no amounts due to any micro, small and medium enterprises as defined under section 7(i)(a) / 7(i)(b) / 7(i)(c) of Micro, Small and Medium Enterprises Development Ac, 2006 as on March 31, 2010. Further, no interest during the year has been paid or payable under the terms of the Micro, Small and Medium Enterprises Development Act, 2006

6. Debts over six months amounting to Rs. 6318.30 (Previous year Rs. 6318.30) are long overdue but in the opinion of the management, they are fully recoverable and the same have been classified as good.

7. Balances with Debtors, Creditors and for Loans and Advances are subject to confirmations form the respective parties.

8. The Currant Assets, Loans and Advances are stated at the value, which in the opinion of the board, are realizable in the ordinary course of the business. Current Liabilities and Provision are stated at the value payable in the ordinary course of the business.

9. The information pursuant to Clause 4, 4-A, 4-C and 4-D of Part II of Schedule VI to the Companies Act, 1956 have not been furnished as these are not applicable the the Company.

10. Interest received is gorss of tax deducted at source of Rs. 7756.00 (Previous year Rs.NIL)

11. There are no amounts due and outstanding to be credited to Investor Education and Protection Fund.

In view of Accounting Standard 28 on Impairment of Assets issued by the Institute of Chartered

12. Accountants of India, the Company has reviewed its fixed assets and does not expect any loss as on 31st March 2010 on account of impairment.

13. Related Party Disclosures

Related party disclosures as required by Accounting Standard 18 "Related Party Disclosures"

a. List of Related Parties (As identified by the Management)

i. Individuals holding 20% or more voting rights.

Vijay Kumar Jain Smt. Kiran Devi Jain

ii. Key Management personnel and their relatives.

Directors : Santosh Kumar Jain

Relatives :

Santosh Kumar Jain (HUF) Smt. Kiran Devi Jain Smt. Chandrakala Jain Niraj Jain Vijay Kumar Jain

iii. Enterprises owned or significantly influenced by key management personnel or their relatives. Big Shop M. Nirmal Kumar (P) Limited

Note :

1. No amount has been written off or written back during the year in respect of debts due from or

14. Schedules 1 to 10 are annexed to and form an Integral part of the Balance Sheet and Profit and Loss Account.

15. Previous year''s figures have been re-grouped wherever necessary.