Notes to Accounts of Excel Realty N Infra Ltd.

Mar 31, 2016

1. Segment reporting

2 Identification of segments

The Company''s operating businesses are organized and managed separately according to the nature of business and services provided, with each segment representing a strategic business unit.

3. Allocation of common costs

Common allocable costs are allocated to each segment according to the relative contribution of each segment to the total common costs.

4. Unallocated items

Unallocated items include general corporate income and expense items which are not allocated to any business segment.

5. Segment accounting policies

The Company prepares its segment information in conformity with the accounting policies adopted for preparing and presenting the financial statements of the Company as a whole.

6. Certain Balance in loans & advances & Debtors accounts are subjected to confirmation/ reconciliation.

7. In the opinion of Board of Director of the Company current assets, loans & advances are of approximately the value stated, if realized in ordinary course of business.

8. 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, 2015

1. Corporate information

Excel Realty N Infra Limited [formerly known as Excel Infoways Ltd.) (the Company) is a public company domiciled in India and incorporated under the provisions of the Companies Act, 1956. Its equity shares are listed on National Stock Exchange and Bombay Stock Exchange in India shares are listed on two stock exchanges in India. The company is engaged in the IT enabled BPO Services and development of infrastructure facility.

2. Basis of preparation

These financial statements have been prepared in accordance with the Generally Accepted Accounting Principles in India ('Indian GAAP') to comply with the Accounting Standards specified under Section 133 of the Companies Act, 2013, read with Rule 7 of the Companies (Accounts) Rules, 2014 and the relevant provisions of the Companies Act, 2013. The financial statements have been prepared under the historical cost convention on accrual basis. The accounting policies adopted in the presentation of the financial statements are consistent with those followed in the previous year.

2.1 The Company makes Provident Fund Contribution to defined contribution retirement benefit plans for qualifying employees. Under the schemes, the Company is required to contribute a specified percentage of the payroll costs to fund the benefits. In case of Provident Fund, the contributions specified under the law are paid to the Provident Fund set up to the respective Regional Provident Fund Commissioner.

3. Segment reporting

3.1 Identification of segments

The Company's operating businesses are organized and managed separately according to the nature of business and services provided, with each segment representing a strategic business unit.

3.2 Allocation of common costs

Common allocable costs are allocated to each segment according to the relative contribution of each segment to the total common costs.

3.3 Unallocated items

Unallocated items include general corporate income and expense items which are not allocated to any business segment.

3.4 Segment accounting policies

The Company prepares its segment information in conformity with the accounting policies adopted for preparing and presenting the financial statements of the Company as a whole.

4. Contingent Liability

Guarantee to Custom Department 474.74 474.74

5. Certain Balance in loans & advances & Debtors accounts are subjected to confirmation/ reconciliation.

6. In the opinion of Board of Director of the Company current assets, loans & advances are of approximately the value stated, if realized in ordinary course of business.

7. 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. Share Capital

Rights, preferences and restrictions attached to shares

The Company has one class of equity shares having a par value of Rs. 10 each. Each shareholder is eligible for one vote per share held.

2. Long-term borrowings

(i) Term loan from banks is taken for business expansion in the month of July 2012 against mortgage of office premises for a period of sixty months at an interest rate of 14.00% p.a (Base rate 3.75%)(previous year 13.75%). Loan amounting to Rs. 11,800 thousand was repaid during the year and the loan was rescheduled. The monthly installment reduced from Rs. 763.58 thousand to Rs. 341.68 thousand.

(ii) Term loan from others is taken for business expansion against residential bungalow and pledge of shares held by directors, in the month of August 2013 amounting to Rs. 45,200 thousand at interest rate 14.25% p.a. for a period of 156 month having EMI of Rs. 637.89 thousand.

3. Details of dues to Micro and Small Enterprises under the MSMED Act, 2006

As per information available with the Company, there are no Micro, Small and Medium Enterprises, as defined in the Micro, Small and Medium Enterprises Development Act 2006, to whom the Company owes dues on account of principle or interest. The above information regarding Micro, Small and Medium Enterprises has been determined to the extent such parties have been defined on the basis of information available with the Company. This has been relied upon by the auditors.

4. Short Term Borrowings

(a) Loan taken from banks for Financial Year 2012-13 was bank overdraft for working capital requirement secured against mortgage of residential bungalow and pledge of shares held by directors and has been repaid.

(b) Secured loan from others is secured against pledge of shares held by directors for a period of 180 days which can be renewed and is payable on demand. The loan is @18% interest p.a.

5. Employee benefits expense

The Company makes Provident Fund Contribution to defined contribution retirement benefit plans for qualifying employees. Under the schemes, the Company is required to contribute a specified percentage of the payroll costs to fund the benefits. In case of Provident Fund, the contributions specified under the law are paid to the Provident Fund set up to the respective Regional Provident Fund Commissioner.

6. Particulars of subsidiaries and associate

a) Associates/Subsidiaries

1. Ranjana Construction Private Limited

2. Tista Impex Private Limited

3. Ritz Shopping Mall Private Limited

4. Excel Infra N Realty Private Limited (formerly known as Paramsatya Construction Private Limited)

5. Raj HR Solutation Private Limited

6. Lakhmendra Khurana & Sons (H.U.F.)

7. Excel Info FZE (UAE)

b) Key Management Personnel

1. Lakhmendra Khurana Chairman and Managing Director

2. Ranjana Khurana Executive Director

3. Arpit Khurana Executive Director

4. Ravi Prakash Sinha Independent & Non-Executive Director

5. Binoy Gupta Independent & Non-Executive Director

6. Ramesh Joshi Independent & Non-Executive Director

7. Kumud H Waradkar Company Secretary

8. Monika Shah Chief Financial Officer

7. Segment reporting

7.1 Identification of segments

The Company''s operating businesses are organized and managed separately according to the nature of business and services provided, with each segment representing a strategic business unit.

7.2 Allocation of common costs

Common allocable costs are allocated to each segment according to the relative contribution of each segment to the total common costs.

7.3 Unallocated items

Unallocated items include general corporate income and expense items which are not allocated to any business segment.

7.4 Segment accounting policies

The Company prepares its segment information in conformity with the accounting policies adopted for preparing and presenting the financial statements of the Company as a whole.

8. Certain Balance in loans & advances & Debtors accounts are subjected to confirmation/reconciliation.

9. In the opinion of Board of Director of the Company current assets, loans & advances are of approximately the value stated, if realized in ordinary course of business.

10. These financial statements have been prepared in the format prescribed by the Revised Schedule VI to the Companies Act, 1956.

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Mar 31, 2013

1. Corporate information

Excel Infoways Limited (the Company) is a public company domiciled in India and incorporated under the provisions of the Companies Act, 1956. Its shares are listed on two stock exchanges in India. The Company is engaged in the IT enabled BPO Services and development of infrastructure facility.

2. Basis of preparation

The financial statements of the Company have been prepared in accordance with generally accepted accounting principles in India (Indian GAAP). The Company has prepared these financial statements to comply in all material respects with the accounting standards notified under the Companies (Accounting Standards) Rules, 2006, (as amended) and the relevant provisions of the Companies Act, 1956. The financial statements have been prepared on an accrual basis and under the historical cost convention.

3.1 - Payment to auditors for current year is exclusive of service tax.

3.2 - Bank Charges were included in Miscellaneous expenses for previous year.

3.3 - Prior Period Items comprises short provision of Income tax of earlier years Rs. 644.70 thousand (Previous Year Rs. 875.23 thousand).

3.4 - Miscellaneous Expenses includes Misc. Expenditure W/off Rs. 8,509.17 thousand (Previous Year Rs. 8,700.00 thousand).

4. Segment reporting

4.1 Identification of segments

The Company''s operating businesses are organized and managed separately according to the nature of business and services provided, with each segment representing a strategic business unit.

4.2 Allocation of common costs

Common allocable costs are allocated to each segment according to the relative contribution of each segment to the total common costs.

4.3 Unallocated items

Unallocated items include general corporate income and expense items which are not allocated to any business segment.

4.4 Segment accounting policies

The Company prepares its segment information in conformity with the accounting policies adopted for preparing and presenting the financial statements of the Company as a whole.

5. Certain balance in loans & advances and Debtors accounts are subjected to confirmation/reconciliation.

6. In the opinion of Board of Director of the Company current assets, loans & advances are of approximately the value stated, if realized in ordinary course of business.

7. These financial statements have been prepared in the format prescribed by the Revised Schedule VI to the Companies Act, 1956.

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Mar 31, 2012

1. Corporate information

Excel Infoways Limited (the Company) is a public company domiciled in India and incorporated under the provisions of the Companies Act, 1956. Its shares are listed on two stock exchanges in India. The Company is engaged in the IT enabled BPO Services and development of infrastructure facility.

2. Basis of preparation

The financial statements of the Company have been prepared in accordance with generally accepted accounting principles in India (Indian GAAP). The Company has prepared these financial statements to comply in all material respects with the accounting standards notified under the Companies (Accounting Standards) Rules, 2006, (as amended) and the relevant provisions of the Companies Act, 1956 and guidelines issued by SEBI. The financial statements have been prepared on an accrual basis and under the historical cost convention.

The' accounting policies adopted in the preparation of financial statements are consistent with those of previous year, except for the change in accounting policy explained below.

3.1 Rights, preferences and restrictions attached to shares

The Company has one class of equity shares having a par value of Rs 10 each. Each shareholder is eligible for one vote per share held.

4.1 - The Company makes Provident Fund to defined contribution retirement benefit plans for qualifying employees.

Under the schemes, the Company are required to contribute a specified percentage of the payroll costs to fund the benefits. In case of Provident Fund, the contributions specified under the law are paid to the Provident Fund set up to the respective Regional Provident Fund Commissioner.

5.1 - Prior Period Items comprises short provision of Income tax of earlier years Rs 875.23 thousands ( Previous year Rs 12.66 thousands).

5.2- Miscellaneous Expenses includes Misc. Expenditure W/off Rs 8700 thousands (Previous Year Rs 7762.70 thousands).

6.1 Acquisitions I Disinvestments

On 18.11.2011, the company has sold 25000 shares of Excel Infra N Realty Pvt. Ltd and hence M/s Excel Infra N Realty Pvt. Ltd is no more subsidiary of Excel Info ways Ltd.

7. Segment reporting

7.1 Identification of segments

The Company's operating businesses are organized and managed separately according to the nature of business and services provided, with each segment representing a strategic business unit.

7.2 Allocation of common costs

Common allocable costs are allocated to each segment according to the relative contribution of each segment to the total common costs.

7.3 Unallocated items

Unallocated items include general corporate income and expense items which are not allocated to any business segment.

7.4 Segment accounting policies

The Company prepares its segment information in conformity with the accounting policies adopted for preparing and presenting the financial statements of the company as a whole.

8. Contingent Liability

Guarantee to Custom Department 474.74 313.00

9. Certain balance in loans & advances & Debtors accounts are subjected to confirmation/reconciliation.

10. In the opinion of Board of Directors of the Company current assets, loans & advances are of approximately the value stated, if realized in ordinary course of business.

11. These financial statements have been prepared in the format prescribed by the Revised Schedule VI to the Companies Act 1956. Previous period figures have been recanted / restated to conform to the classification of the current period.

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Mar 31, 2011

1) The identification of Micro, Small & Medium Suppliers is based on Management's knowledge of their status. There are no dues to Micro, Small & Medium Enterprise Supplier as on 31.03.2011 (March 31, 2010 Rs. Nil)

2) As per the information given by the management the company has only one reportable business segment as defined under AS 17 – "Segmenting Reporting" issued by Institute of Chartered Accountants of India, hence segment wise information is not relevant.

3) Related Party Disclosure

As per Accounting Standard – 18, issued by the ICAI, the Company's related parties and transactions with them are as under.

a) Associates/Subsidiaries

1. Ranjana Construction Ltd.

2. Tista Impex Pvt. Ltd.

3. Ritz Shopping Mall Pvt. Ltd.

4. Excel Infra N Realty Pvt. Ltd (formerly known as Paramsatya Construction Pvt. Ltd.)

5. Raj H.R. Solutation Pvt. Ltd.

6. Lakhmendra Khurana & Sons (H.U.F.)

7. Excel Info FZE (UAE)

b) Key Management Personnel

1. Lakhmendra Khurana (Managing Director)

2. Ranjana Khurana (Executive Director)

3. Bela Ash (Executive Director)

4. Ravi P. Sinha (Independent Director)

5. Binoy Gupta (Independent Director)

6. Ramesh Joshi (Independent Director)

c) Relatives of Key Management Personnel

Director Name of Relative Relationship

1. Lakhmendra Khurana Isha Khurana Daughter

2. Lakhmendra Khurana Arpit Khurana Son

3. Bela Ash Pratima Ash Mother

e) The Company has given loan to its wholly owned subsidiary viz. Excel Info FZE of Rs. 22,28,24,388 without repayment schedule and interest. Maximum amount outstanding during the year was Rs. 22,28,24,388.

4) Quantitative Information

Company is engaged in business of Business Process Outsourcing/IT enabled Services. Hence it is not possible to give quantitative details of turnover and certain information. In Para 3, 4C and 4D of Part II of Schedule VI to Companies Act 1956.

5) Remittance in foreign currency on account of dividend to a non-resident shareholder: Final dividend on 106218 Equity Shares for 2009-2010 (Previous year : Nil) :- Rs 106218

6) Certain balances in Loans and Advances and Debtors account are subject to confirmation/ reconciliation.

7) In the opinion of Board of Directors of the company current assets, loans & advances are of approximately the value stated, if realized in ordinary course of business.

8) The figures have been regrouped /rearranged wherever necessary to make them comparable with those of current period.

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Mar 31, 2010

1. The identification of Micro, Small & Medium Suppliers is based on Managements knowledge of their status. There are no dues to Micro, Small & Medium Enterprise Supplier as on 31.03.2010 (March 31, 2009, Rs. Nil)

2. As per the information given by the management the company has only one reportable business segment as defined under AS 17 -"Segmenting Reporting" issued by Institute of Chartered Accountants of India, hence segment wise information is not relevant.

3. Related Party Disclosure

As per Accounting Standard - 18, issued by the ICAI, the Companys related parties and transactions with them are as under.

a) Associates

1 Ranjana Construction Ltd.

2 Tista Impex Pvt. Ltd.

3 Ritz Shopping Mall Pvt. Ltd.

4 Paramsatya Construction Pvt. Ltd.

5 Raj H.R. Solutation Pvt. Ltd.

6 Lakhmendra Khurana & Sons (H.U.F.)

7 Excel Info FZE (UAE)

8 Omdaya Builders & Developers Pvt. Ltd.

b) Key Management Personnel

1 Lakhmendra Khurana (Managing Director)

2 Ranjana Khurana (Executive Director)

3 Bela Ash (Executive Director)

4 Ravi P. Sinha (Independent Director)

5 Binoy Gupta (Independent Director)

6 Ramesh Joshi (Independent Director)

c) Relatives of Key Management Personnel

Director Name of Relative Relationship

1. Lakhmendra Khurana Isha Khurana Daughter

2. Lakhmendra Khurana Arpit Khurana Son

3. Bela Ash Pratima Ash Mother

4. Quantitative Information

Company is engaged in business of Business Process Outsourcing/IT enabled Services. Hence it is not possible to give quantitative details of turnover and certain information. In Para 3, 4C and 4D of Part II of Schedule VI to Companies Act 1956.

5. Contingent Liability 31.03.2010 31.03.2009

Guarantee to Custom

Department (Rs.) 4,21,357 3,61,031 Bank Guarantee to BSE (Rs.) 23,50,000 _

6. Certain balances in Loans and Advances and Debtors account are subject to confirmation/reconciliation.

7. In the opinion of Board of Directors of the company current assets, loans & advances are of approximately the value stated, if realized in ordinary course of business.

8. The figures have been regrouped wherever necessary to make them comparable with those of current period.

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Mar 31, 2009

Not Available