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Notes to Accounts of Cura Technologies Ltd.

Mar 31, 2016

1. Provision for Gratuity is made for the employees on the basis of calculation by the company: Gratuity

2. Provision for Leave Encashment is made for the employees on the basis of calculation by the company: Leave Encashment

3. Quantitative details requirements regarding software and technical services are not applicable.

4. Balances of Sundry Debtors, Loans & Advances and Sundry Creditors are subject to confirmation from the concerned parties.

5. Segment Report as per Accounting Standard 17 for the Year ended 31st March 2016:

6. EVENTS OCCURRED AFTER BALANCE SHEET

(i) During the Financial year 2016-17,Andhra Bank(Sultan Bazar Branch, Hyderabad) Term Loan of Rs.89,70,33,699/- (Excluding Current Year (FY 15-16) interest of Rs.5,98,79,879/-) which is secured by Land & buildings situated at Flat No.12, Software units layout, Cyberabad, Hyderabad-81 amounting to Rs.17,38,53,881/- (Net amount as at 31st March,2016 of Rs.9,96,85,827/-) was settled under One Time Settlement for an Amount of Rs.50,00,00,000/-.The said settled Loan amount of Rs.50,00,00,000/- was paid by realizing through the sale of all the assets charged to bank during the month of May,2016.

(ii) Also during the year 2016-17,Andhra Bank(Sultan Bazar Branch, Hyderabad) loan of has auctioned the Land & Buildings under construction situated at Plot No 17, Sy No.408/1 situated at Madhurawada Village, Vishakapatanam Rural, (Amounting to Rs.8,51,01,353/-as on 31st March,2016,as per Books of Accounts) towards the repayment of their outstanding Term loan Rs.9.10 Crores (Excluding Current Year(FY 15-16) interest of Rs.1,75,60,018/-) against the security of the said project. However details of the amount realized, expenses incurred were not yet disclosed by the bank.

(iii) Also during the year 2016-17,Investments in Cura Global GRC Solutions PTE Ltd (i.e 27,23,510 Equity Shares with face value of $1/- each fully paid) have been sold to White Orchids Co Ltd for an amount of $ 1,36,175/-.

(iv) The Accounting treatment for the above transactions will be recorded in the books of accounts during the Financial Year 2016-17.

7. Figures were regrouped/reclassified wherever necessary. Figures are rounded off to the nearest rupee.

See accompanying notes forming part of the financial statements 1 to 22

The accompanying notes are an integral part of financial statements

As per our report of even date attached

Note 8.

During the financial year 2009-10, the Company has taken a term loan of 9.38 crore from Andhra Bank, Hyderabad. The said loan is repayable in 60 equitable monthly installments of Rs 15.6 Lakhs each commencing from 20 th Nov 2009. The said loan is secured by way of first charge on rent receivables from tenants and further secured by second charge on land and buildings of the Company and personal guarantee of Mr. G Bala Reddy, Director. Further the company has defaulted on repayment of the loan and the total outstanding of Rs 10.85 crores including interest is currently due. And due to lack of funds interest payable not accounted, if accounted loss will increase by Rs. 1, 75, 60,018/

Note 8

During the financial year 2009-10, Cura Global GRC Solutions Pte Ltd - Singapore, has taken a term loan of USD 14.24 Mn from Bank of India , Singapore. Andhra Bank, Hyderabad has given the financial guarantee to Bank of India, Singapore towards 50% of the loan sanctioned by Bank of India, Singapore for which the Company has given a counter guarantee to Andhra Bank, Hyderabad. During the Financial year 2012-13, Bank of India revoked the guarantee given by Andhra Bank, Hyderabad and Andhra Bank, Hyderabad in turn revoked the corporate guarantee given by the company and credited an amount of Rs. 26.86 crores to company''s loan account. The said loan is secured by pari-passu mortgage charge on the Land and Building of the company. The Company has debited the the same amount along with the interest to Cura Global GRC Solutions Pte Ltd, Singapore and accounted the under the head Loan and advances to Subsidiaries. And due to lack of funds interest payable not accounted, if accounted loss will increase by Rs. 5,98,79,879/-


Mar 31, 2015

1. CORPORATE INFORMATION

CURA Technologies Limited (CURA' or 'the Company'), having registered office at #12, Software Units Layout, Cyberabad, Hyderabad, Telangana - 500 081, with its with its presence in 7 geographies of the world is a global enterprise class software application provider for organizations to efficiently manage their Risk , Compliance and Audit framework through an automated process.


Mar 31, 2014

1 CORPORATE INFORMATION

CURA Technologies Limited (CURA'' or ''the Company'') with its with its presence in 7 geographies of the world is a global enterprise class software application provider for organizations to efficiently manage their Risk , Compliance and Audit framework through an automated process.

2 The company has the following Contingent liabilities as on:

Particulars 31 March, 31 March, 2014 2013

i) Bank Guarantee issued to Central Excise department 249,991 249,991

ii) Claim against the Company not acknowledge as debt - -

iii) The Commercial Tax Officer, (FAC), Madhapur, vide Assessment order dated 27.04.2010 raised a demand towards Value Added Tax amounting to Rs. 4,176,381 (Details given below) on rent for furniture. The Company approached the High Court of Andhra Pradesh for stay and in turn the High Court of Andhra Pradesh has granted interim Stay for further proceedings with a condition that Company shall pay 12.5% of disputed tax. The Company paid an amount of Rs. 522,047 towards disputed Tax liability. Rs.

Particulars 31 March, 31 March, 2014 2013

2005-2006 1,058,047 1,058,047

2006-2007 1,358,171 1,358,171

2007-2008 1,760,163 1,760,163

Total 4,176,381 4,176,381

3 Estimated amount of contracts remaining to be executed on capital accounts not provided for Rs. NIL [Previous year Rs. NIL].

4 The Company granted 100,000 Options under ESOP 2008 to its employees @ Rs. 42 each (Including premium of Rs. 32 each) on 28-08-2008 and received ESOP 2008 application money of Rs. 1,000,000 on granting of 100,000 Options @ Rs. 10 each. The

5 Disclosure in accordance with Section 22 of Micro, Small and Medium Enterprises Development Act, 2006.

This information as required to be disclosed under the Micro, Small and Medium Enterprises Development Act, 2006 has been determined to the extent such parties have been identified on the basis of information available with the Company.

6 Quantitative details requirements regarding software and technical services are not applicable.

7 Balances of Sundry Debtors, Loans & Advances and Sundry Creditors are subject to confirmation from the concerned parties.

8 Figures were regrouped/reclassified wherever necessary. Figures are rounded off to the nearest rupee.


Mar 31, 2013

1. CORPORATE INFORMATION

CURA Technologies Limited (CURA'' or ‘the Company'') with its with its presence in 7 geographies of the world is a global enterprise class software application provider for organizations to efficiently manage their Risk , Compliance and Audit framework through an automated process.

2.1 The company has the following Contingent liabilities as on :

Particulars March 31, 2013 March 31, 2012

i) Bank Guarantee issued to Central Excise 260,000 260,000 department

ii) Claim against the Company not acknowledge as 376,112 376,112 debt

iii) The Commercial Tax Officer, (FAC), Madhapur, vide Assessment order dated 27.04.2010 raised a demand towards Value Added Tax amounting to t 4,176,381 (Details given below) on rent for furniture. The Company approached the High Court of Andhra Pradesh for stay and in turn the High Court of Andhra Pradesh has granted interim Stay for further proceedings with a condition that Company shall pay 12.5% of disputed tax. The Company paid an amount of Rs. 522,047 towards disputed Tax liability.

iv) The Company provided Corporate Guarantee of t 268,610,247 to Andhra Bank for a counter guarantee provided to Bank of India for term loan sanctioned by Bank of India to Cura Global GRC Solutions Pte. Ltd, Singapore ( "CURA Singapore "), a Subsidiary of the Company. This Corporate Guarantee is also secured by first Pari-pasu mortgage of its Land & Buildings.

2.2 Estimated amount of contracts remaining to be executed on capital accounts not provided for f NIL [Previous year Rs. 473,800].

2.3 The Company granted 100,000 Options under ESOP 2008 to its employees @ Rs.42 each (Including premium of t 32 each) on 28-08-2008 and received ESOP 2008 application money of Rs. 1,000,000 on granting of 100,000 Options @ ^ 10 each. The details of the outstanding options granted, expired and exercised are as follows:

2.4. Quantitative details requirements regarding software and technical services are not applicable.

2.5 Balances of Sundry Debtors, Loans & Advances and Sundry Creditors are subject to confirmation from the concerned parties.


Mar 31, 2012

Note: During the financial year 2008-09, the Company has received an amount of Rs. 10,00,000 towards share application money for allotment of 1,00,000 equity shares of Rs. 10 each against options granted under ESOP 2008.

As at 31st March, 2012, the Company has allotted 65,000 equity shares of Rs. 10 each out of 1,00,000 stock options granted during 2008-09 and the balance amount of Rs. 350,000 is pending for allotment and kept under share application money.

Note 1.1 During the financial year 2009-10, the Company has taken a term loan of 9.38 crore from Andhra Bank, Hyderabad. The said loan is repayable in 60 equitable monthly installments commencing from 20th Nov. 2009The said loan is secured by way of first charge on rent receivables from tenants and further secured by land and buildings of the Company and personal guarantee of the promoter.

Note 1.2 During the year the Company has taken an unsecured interest free loan from Sahasra Investments Pvt Ltd.

Note 2.1: Deposits with Government Authorities include an amount of Rs. 15,67,600 (previous year: Rs.15,67,600) towards Security Deposit with APCPDCL Hyd and other deposits Rs. 195,350 (previous year :195,350)

3. CORPORATE INFORMATION

Incorporated on 20 November 1991 CURA Technologies Limited (CURA' or 'the Company') with its presence in 7 geographies of the world is a global enterprise class software application provider for organizations to efficiently manage their Risk , Compliance and Audit framework through an automated process. The company is carrying its activities from its registered office situated at Plot No. 12, Software Units Layout, Cyberabad, Hyderabad - 500 081.

4.1. Estimated amount of contracts remaining to be executed on capital accounts not provided for (Rs.) 473,800 [Previous year (Rs.) 934,726].

4.2. The Company granted 100,000 Options under ESOP 2008 to its employees @ (Rs.) 42 each (Including premium of (Rs.) 32 each) on 28-08-2008 and received ESOP 2008 application money of (Rs.) 1,000,000 on granting of 100,000 Options @ (Rs.) 10 each. The details of the outstanding options granted, expired and exercised are as follows:

This information as required to be disclosed under the Micro, Small and Medium Enterprises Development Act, 2006 has been determined to the extent such parties have been identified on the basis of information available with the Company.

4.3. Quantitative details requirements regarding software and technical services are not applicable. 2.25 Balances of Sundry Debtors, Loans & Advances and Sundry Creditors are subject to confirmation from the concerned parties.

4.4. The Revised Schedule VI has become effective from 1 April, 2011 for the preparation of financial statements. This has significantly impacted the disclosure and presentation made in the financial statements. Previous year's figures have been regrouped / reclassified wherever necessary to correspond with the current year's classification / disclosure. Figures are rounded off to the nearest rupee.


Mar 31, 2011

1. The company has the following Contingent liabilities as on : (Rs.)

Particulars March 31, 2011 March 31, 2010

i) Bank Guarantee issued to Central Excise department 260,000 260,000

ii)Claim against the Company not acknowledge as debt 376,112 376,112

iii) The Commercial Tax Officer, (FAC), Madhapur, vide Assessment order dated 27.04.2010 raised a demand towards Value Added Tax amounting to Rs. 4,176,381 (Details given below) on rent for furniture. The Company approached the High Court of Andhra Pradesh for stay and in turn the High Court of Andhra Pradesh has granted interim Stay for further proceedings with a condition that Company shall pay 12.5% of disputed tax. The Company paid an amount of Rs. 522,047 towards disputed Tax liability.

2005-2006 1,058,047 1,058,047

2006-2007 1,358,171 1,358,171

2007-2008 1,760,163 1,760,163

Total 4,176,381 4,176,381

iv) The Company provided Corporate Guarantee of Rs. 341,333,000 to Andhra Bank for a counter guarantee provided by Andhra Bank to Bank of India for sanctioning a term loan of US $ 14.24 million to Cura Global GRC Solutions Pte. Ltd, Singapore, a Subsidiary of the Company. This Corporate Guarantee is also secured by first Pari-pasu mortgage charge of its Land & Buildings at Vishakhapatnam.

2. Estimated amount of contracts remaining to be executed on capital accounts not provided for Rs. 934,726 [Previous year Rs. 7,085,907] .

3. The Company granted 100,000 Options under ESOP 2008 to its employees @ Rs. 42 each (Including premium of Rs. 32 each) on 28-08-2008 and received ESOP 2008 application money of Rs. 1,000,000 on granting of 100,000 Options @ Rs. 10 each and created a Reserve for ESOP 2008 towards premium of Rs.32 each and the differential price of Rs. 172.35 each on 100,000 options and correspondingly debited the sum to Deferred Employee Compensation Account with an amount of Rs. 20,435,000 and allotted 30,000 Equity shares under this scheme and transferred an amount of Rs. 300,000 to Equity Share Capital account at Rs. 10 each.

4. Further 1,65,000 Equity Shares and 2,400,000 Equity Shares were alloted on conversion of warrants during the year on Preferential basis to the Promoters and Non promoters and received an amount of Rs. 408,000,000 on 2,400,000 Equity Shares and Rs. 13,200,000 on 165,000 Equity shares towards Equity Share premium on conversion of warrants.

Further it has received an amount of Rs. 960,000 on allotment of 30,000 Equity Shares under ESOP 2008 Scheme and an amount of Rs. 5,170,500 was transferred to Equity Share premium account out of Reserve for ESOP 2008 Scheme . And an amount of Rs. 643,783 and Rs.188,840 towards preferential issue and ESOP 2008 issue expenses has been utilized from Share premium account

5. The Company availed Term Loan from Andhra Bank, Koti, Hyderabad. The said Term Loan is secured by extension a charge of Land and Building of Cura Technologies Ltd, Hyderabad and Equitable mortgage of Company's Land and Building located at Vishakapatnam and the personal guarantee of the promoter.

6. During the year the company has restated the foreign currency receivables outstanding. However the advances/ Loans in foreign currency given to subsidiaries have not been restated as on the date of balance sheet .

7. During the year an amount of Rs. 19,173 being unclaimed dividend for the year 2002-03 was been transferred to Investor Education and Protection Fund A/c.

8. Related parties information:

A) Information regarding related party transactions as per Accounting Standard 18 is given below:

Names of related parties and description of relationship:

Party Relationship

G. Bala Reddy Key Management Person

G. Venkateswara Rao Key Management Person

Softpro Technologies Private limited Subsidiary Company

Cura Global Grc Solutions Pte Ltd Wholly Owned Subsidiary

ICSA (India) Limited Associate Company

BRG Energy Limited Associate Company

P R Cements Ltd Associate Company

Sahasra Investments Pvt Ltd Associate Company

G. Velangini Mary Relative of Key Management Person

9. Expenditure incurred on encashment of Earned leave is accumulated as and when the same is payable.

10. Quantitative details requirements regarding software and technical services are not applicable.

11. Balances of Sundry Debtors, Loans & Advances and Sundry Creditors are subject to confirmation from the concerned parties.

12. The figures of the previous year have been regrouped/recast to render them comparable with figures of the current year wherever necessary.


Mar 31, 2010

1. The company has the following contingent liabilities as on:

Particulars 31-03-2010 31-03-2009

i). Bank guarantee issued to 260,000 260,000 Central Excise Department

ii). Claim against the Company 376,112 376,112 not acknowledge as debt

iii). The Commercial Tax Officer, (FAC), Madhapur, has vide his Assessment orders dated 27.04.2010 demanded valued added tax of Rs. 10,58,047/-, Rs. 13,58,171/- and Rs. 17,60,163/- (Totaling to Rs. 41,76,381/-) for the financial years 2005-06, 2006-07 and 2008-09 respectively on rent for furniture. The Company approached Honble High Court of Andhra Pradesh for stay and in turn the Honble High Court of Andhra Pradesh has granted interim Stay for further proceedings with a condition that Company shall pay 12.5% of disputed tax and the Company has paid an amount of Rs.5,22,047/- towards disputed Tax liability of Rs. 41,76,381/-.

iv). During the year the company has provided Corporate Guarantee to an extent of Rs. 3413.33 Lakhs to Andhra Bank for the guarantee provided by them to Bank of India, who has sanctioned a term loan of US $ 14.24 millions to the Cura Global GRC Solutions Pte. Ltd, Singapore a subsidiary of the Company. The said guarantee given by the company is also secured by the first Pari-pasu mortgage charge over Land & Buildings situated at Softpro Heights, Softpro Units layout, Madhapur, Hyderabad.

2. Estimated amount of contracts remaining to be executed on capital accounts not provided for is Rs. 70,85,907/-

3. During the year the company has received Equity Warrant application money on allotment of 1,65,000 warrants @ Rs. 22.50/- each and 24,00,000 warrants @ Rs. 45/- each amounting to Rs. 11,17,12,500/-

4. The Company has granted 100,000 Options under ESOP 2008 to its employees at Rs. 42/- each (Including premium of Rs. 32/- each) on 28-08-2008. During the year the Company has received ESOP application money of Rs. 10,00,000/- on granting of 100,000 Options @ Rs. 10/- each. The Company has created a Reserve for ESOP 2008 towards premium of Rs. 32/- each and the difference price of Rs. 172.35 each on 100,000 options and correspondingly debited to Deferred Employee Compensation account with an amount of Rs. 2,04,35,000/- The said amount of Rs. 2,04,35,000/- shall be amortized in proportion to conversion of options into Equity Shares.

5. During the year the Company has issued 9,25,000 Equity Shares for Rs. 90/-each (Including Premium Rs. 80/- each) on Preferential basis to the Promoters and others and received an amount of Rs.7,40,00,000/- towards share premium account and an amount of Rs. 2,44,271/- has been utilized from Share premium account to meet the Preferential issue expenses.

6. During the year the Company has converted authorized capital relating to 7,50,000 Redeemable Preference Shares of Rs. 10/- each into Equity Shares of Rs. 10/- each.

7. During the year the Company has availed Term Loan of Rs. 9.38 Crores from Andhra Bank, Koti, Hyderabad. The Said Term Loan is secured by extension of Charge of Land and Building of Softpro Heights, Hyderbad and Equitable mortgage of Vizag unit Land and Building located at Plot No. 17, Hill No. 2, Rishikonda Vishakapatnam. This Loan is further secured by personal guarantee of Shri. G. Bala Reddy, C M D of the Company.

8. During the year under review an amount of Rs. 9,949/- being unclaimed dividend for the year 2001-2002 has been transferred to Investor Education and Protection Fund A/c.

9. Provision for Gratuity is made for the employees whoever has completed the qualifying period of service (5 years).

10. The quantitative details requirements regarding software and technical services are not applicable.

11. The balances of sundry debtors, Loans & Advances and sundry creditors are subject to confirmation from the concerned parties.

12. The figures of the previous year have been regrouped/recast to render them comparable with figures of the current year wherever necessary.

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