Notes to Accounts of Yunik Managing Advisors Ltd.

Mar 31, 2016

1. The Company does not have any commitment and contingent liabilities.

2. The Company does not have any dues to micro, small and medium enterprises.

Related Party Disclosures:

a) Related parties where control exists:

i. Holding Companies:

Essar Capital Limited

Essar Satvision Limited (Holding company of Essar Capital Limited)

Essar Capital Holdings (India) Limited [Holding company of Essar Satvision Limited]

ii. Individual owning indirectly an interest in the voting power that gives control:

Smt. Manju S Ruia

iii. Key Management Personnel:

Mr. Ashish Vyas - Manager & Company Secretary, Girish Vyas - Chief Financial Officer

b) Other related parties, where there have been transactions:

Enterprises controlled or significantly influenced by individual or relatives:

Essar Investments Limited

Upto March 22, 2016 - Essar Properties Pvt Limited, Imperial Consultants & Securities Pvt Limited, Futura Travels Limited, Imperial Procurement Services Pvt Limited, Girishan Investment Pvt Limited, Essar Teleholdings Limited.

c) Transactions with related parties are summarised as under:

i) Figures in brackets relates to the previous year.

ii) The names of the related parties are disclosed under each nature of transaction where the transaction with single party is 10% or more of relevant nature of transactions.

3. The Company is having two business segments viz. Consultancy & Advisory Services and Investment Activities. Segment wise data for the year is as under:

4. EMPLOYEE BENEFITS

Gratuity is payable to all eligible employees of the Company on superannuation, death and permanent disablement in terms of provision of the Payment of Gratuity Act or as per the Company''s scheme whichever is more beneficial. Benefit would be paid at the time of separation based on the last salary drawn base salary.

The Company has also agreed to provide certain Compensated Absences.

Gratuity benefits are funded and Compensated Absences are non-funded.

The following tables summarize the components of net benefit expense recognized in the Statement of Profit and Loss and amounts recognized in the balance sheet for respective plans.

5. Previous year figures have been rearranged / regrouped wherever necessary.

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Mar 31, 2015

1. The company does not have any commitment or contingent liabilities.

2. The company does not have any dues to micro, small and medium enterprises.

3. Related Party Disclosures :

a) Related parties where control exists:

i. Holding Companies:

Essar Capital Limited

Essar Satvision Limited (Holding company of Essar Capital Limited)

Essar Capital Holdings (India) Limited [Holding company of

Essar Satvision Limited]

ii. Individual owning indirectly an interest in the voting power that gives control:

Smt. Manju S Ruia

iii. Key Management Personnel:

Mr. Ashish Vyas - Manager & Company Secretary, Girish Vyas - Chief Financial Officer

b) Other related parties, where there have been transactions:

Enterprises controlled or significantly influenced by individual or relatives:

Essar Properties Pvt Limited, Imperial Consultants & Securities Pvt Limited, Futura Travels Limited, Imperial Procurement Services Pvt Limited, Girishan Investment Pvt Limited, Essar Teleholdings Limited, Essar Investments Limited

Notes:

i) Figures in brackets relates to the previous year.

ii) The names of the related parties are disclosed under each nature of transaction where the transaction with single party is 10% or more of relevant nature of transactions.

4. EMPLOYEE BENEFITS

Gratuity is payable to all eligible employees of the company on superannuation, death and permanent disablement in terms of provision of the Payment of Gratuity Act or as per the company's scheme whichever is more beneficial. Benefit would be paid at the time of separation based on the last salary drawn base salary.

The company has also agreed to provide certain Compensated Absences.

5. Previous year figures have been rearranged / regrouped wherever necessary.

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Mar 31, 2014

1. The company does not have any commitment or contingent liabilities.

2. The company does not have any dues to micro, small and medium enterprises.

3. Related Party Disclosures :

a) Related parties where control exists:

i. Holding Companies:

Essar Capital Ltd

Essar Satvision Ltd (Holding company of Essar Capital Ltd)

Essar Capital Holdings (India) Limited [Holding company of Essar Satvision Ltd]

ii. Individual owning indirectly an interest in the voting power that gives control:

Smt. Manju S Ruia (w.e.f. January 2, 2014), Mr. Anshuman S Ruia (upto January 1, 2014)

iii. Key Management Personnel:

Mr. Ashish Vyas - Manager & Company Secretary

a) Other related parties, where there have been transactions:

Enterprises controlled or significantly influenced by individual or relatives:

Essar Properties Limited, Imperial Consultants & Securities Private Limited, Futura Travels Limited, Imperial Procurement Services Limited, Girishan Investment Limited, Essar Teleholdings Limited, Essar Investments Limited

4. Employee benefits

Gratuity is payable to all eligible employees of the company on superannuation, death and permanent disablement in terms of provision of the Payment of Gratuity Act or as per the company''s scheme whichever is more beneficial. Benefit would be paid at the time of separation based on the last salary drawn base salary.

The company has also agreed to provide certain Compensated Absences.

Gratuity benefits and Compensated Absences are non-funded.

5. Previous year figures have been rearranged / regrouped wherever necessary.

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Mar 31, 2013

1. The company does not have any commitment or contingent liabilities.

2. The company does not have any dues to micro, small and medium enterprises.

3. Related Party Disclosures :

a) Related parties where control exists: i. Holding Companies;

Essar Capital Ltd

Essar Satvision Ltd (Holding company of Essar Capital Ltd) Essar Capital Holdings (India) Ltd [Holding company of Essar Satvision Ltd] ii. Individual owning indirectly an interest in the voting power that gives control: Mr. Anshuman S. Ruia

b) Other related parties, where there have been transactions:

Enterprises controlled or significantly influenced by individual or relatives:

Essar Properties Ltd, Essar Investments Ltd, Imperial Consultants & Securities Private Ltd.

4. Employee benefits

Gratuity is payable to all eligible employees of the company on superannuation, death and permanent disablement in terms of provision of the Payment of Gratuity Act or as per the company''s scheme whichever is more beneficial. Benefit would be paid at the time of separation based on the last salary drawn base salary.

The company has also agreed to provide certain Compensated Absences.

Gratuity benefits and Compensated Absences are non-funded.

The following tables summarize the components of net benefit expense recognized in the Statement of Profit and Loss and amounts recognized in the balance sheet for respective plans.

5. Previous year figures have been rearranged / regrouped wherever necessary.

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Mar 31, 2012

Notes:

a. 10,704,557 (RY. 10,704,557) equity shares are held by Essar Capital Ltd, the holding company together with its nominees and Nil by Essar Capital Holdings (India) Limited, the ultimate holding company.)

b. There is no change in number of shares outstanding as at March 31, 2012 and March 31, 2011.

1. The company does not have any commitment or contingent liabilities.

2. The company does not have any dues to micro, small and medium enterprises.

3. Related Party Disclosures :

a) Related parties where control exists:

i. Holding Companies:

Essar Capital Ltd

Essar Satvision Ltd (Holding company of Essar Capital Ltd)

Essar Capital Holdings (India) Ltd [Holding company of Essar Satvision Ltd]

ii. Individual owning indirectly an interest in the voting power that gives control: Mr. A S Ruia

b) Other related parties, where there have been transactions:

Enterprises controlled or significantly influenced bv individual or relatives:

Essar Properties Ltd, Essar Investments Ltd, Imperial Consultants & Securities Private Ltd.

Note Figures in brackets relates to the previous year.

4. Previous year figures have been rearranged / regrouped wherever necessary.

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Mar 31, 2010

1) There are no amounts for which the company is contingently liable.

2) Related Party Disclosures :

(a) Related parties where control exists: Holding Companies: Essar Capital Limited

Essar Satvision Limited (Holding company of Essar Capital Limited) Essar Capital Holdings (India) Limited (Holding company of Essar Satvision Limited) Individual owning indirectly an interest in the voting power that gives him control: Mr. A. S. Ruia

(b) Other related parties, where there have been transactions:

Enterprises controlled or significantly influenced by individuals or major shareholders:

Essar Properties Limited, Essar Investments Limited, Imperial Consultants & Securities Private Limited,

3) Previous year figures have been rearranged / regrouped wherever necessary.