Notes to Accounts of Morgan Ventures Ltd.

Mar 31, 2015

1 OTHER INFORMATION

A. Figures have been rounded off to the nearest rupee and previous year figures have been regrouped/ rearranged wherever necessary.

B CHANGE IN FINANCIAL YEAR

The company was following financial year starting from 1st July to 30lh June.

As per Section 2 (41) of Companies Act, 2013 the financial year of a Company must end on 31at March of every year. The said section of the Companies Act, 2013 further provides that the existing company shall, within a period of two years from commencement of this provision, align its financial year as per the provisions of Section 2(41) of Companies Act, 2013.

In order to comply with above referred provisions of the Companies Act, 2013 your Company closed its financial year on March 31, 2015 by preparing the Financial Statements for a period of 9 months from July 01, 2014 to March 31, 2015."

C. Disclosure as per Accounting Standard-17 on "Segment Reporting"

(i) Segments have been identified in line with the Accounting Standard-17 on Segment Reporting.

(ii) Segment Revenue, Results and Capital Employed figures include the respective amounts identifiable to each of the segments. Unallowable expenditure includes expenses incurred at a corporate level which relate to the company as a whole.

D. Related Parties Disclosures are as under: -

I. Names of related party and nature of related party relationship

a) Subsidiary: Satlej Real Estate Pvt. Ltd., Sudama Technologies Private Limited and Satlej Infotech Private Limited(Subsidiary of Satiej Real Estate Pvt. Ltd.)

b) Key Management Personnel & their relatives (also exercising significant influence over the Company)

Mrs. Meera Goyal-Acted as Managing Director till 28.07.2014 and Director till. 14.08.2014, Spouse of Mr S.C.Goyal

Mr S.C.Goyal - Appointed as Managing Director w.e.f. 29.07.2014, Spouse of Mrs. Meera Goyal Enterprise in which the persons referred in (b) above along with their relative's exercises significant influence:

Goyal MG Gases Private Limited, Dhamwari Power Company Private Limited, Htbra Power Private Limited, Peacock Chemicals Private Limited, Morgan Infrastructures Developers Private Limited and Morgan Signature Towers Private Limited.

E. Contingent Liabilities:

The Company is In litigation relating to termination of Agreement to Sell with Golden Dreams Buildcon Private Limited for sale of a plot at Aurangabad, part of 5 units of Jhalani Tools India Ltd acquired through Court Auction.

Final Arguments have taken place and arbitrator has reserved the award.

The Directors are of the opinion that the Company can protect its interest successfully.

F. (i) Expenditure in Foreign Currency

(ii) Earnings in Foreign Exchange

(iii) CI F Value of Import

G. Additional information pursuant to the provisions of Companies Act, 2013 (to the extent applicable):

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Jun 30, 2014

Corporate Information Morgan Ventures Limited is a Public Limited company incorporated under the provisions of Companies Act, 1956. The Company is a Non - Banking Financial Company registered with Reserve Bank of India. Equity Shares of the Company is listed at Bombay Stock Exchange. The Company is also engaged in power generation from windmills.

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Jun 30, 2013

1. CORPORATE INFORMATION

Morgan Ventures Limited is a Public Limited company incorporated under the provisions of Companies Act, 1956. The Company is a Non - Banking Financial Company registered with Reserve Bank of India. Equity Shares of the Company is listed at Bombay Stock Exchange. The Company is also engaged in power generation from windmills.

A. Figures have been rounded off to the nearest rupee and previous year figures have been regrouped/ rearranged wherever necessary.

B. Share Allotment Money receivable from shareholders is subject to reconciliation with the share transfer agent.

C. Disclosure as per Accounting Standard-17 on "Segment Reporting"

(i) Segments have been identified in line with the Accounting Standard-17 on Segment Reporting.

(ii) Segment Revenue, Results. and Capital Employed figures include the respective amounts identifiable to each of the segments. Unallocable expenditure includes expenses incurred at a corporate level which relate to the company as a whole.

D. Related Parties Disclosures are as under: -

I. Names of related party and nature of related party relationship

a) Subsidiary: Satlej Real Estate Pvt. Ltd., Sudama Technologies Private Limited and Satlej Infotech Private Limited(Subsidiary of Satlej Real Estate Pvt. Ltd.)

b) Key Management Personnel & their relatives (also exercising significant influence over the Company)

Mrs. Meera Goyal, Managing Director

(Relative Mr. S. C. Goyal, Director of the Company)

Enterprise in which the persons referred in (b) above along with their relative''s exercises significant influence:

Goyal MG Gases Private Limited, Dhamwari Power Company Private Limited, Hibra Power Private Limited, Peacock Chemicals Private Limited, Morgan Infrastructures Developers Private Limited and Morgan Signature Towers Private Limited.

E. Contingent Liabilities:

The Company is in litigation relating to termination of Agreement to Sell with Goldendreams Buildcon Private Limited for sale of a plot at Aurangabad, part of 5 units of Jhalani Tools India Ltd acquired through Court Auction. The claim under dispute is for Specific Performance of agreement to sell and interest accrued. Golden dreams Buildcon Private Limited has also claimed compensation for alleged loss and damages suffered by them which has not been quantified by them. The Directors are of the opinion that the Company can protect its interest successfully. Contingent Assets are neither recognized nor disclosed in the Financial Statement.

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Jun 30, 2010

1. Figures have been rounded off to the nearest rupee and previous year figures have been regrouped/rearranged wherever necessary.

2. Share Allotment Money receivable from shareholders is subject to reconciliation with the share transfer agent.

3 . Related Parties Disclosures are as under:

1. Names of related party and nature of related party relationship

i) Subsidiary: Satlej Real Estate Pvt. Ltd., Satlej Infotech Private Limited and

Sudama Technologies Private Limited ii) Key Management Personnel & their relatives (also exercising significant Influence over the Company) Mrs. Meera Goyal, Managing Director (relative Mr. S. C. Goyal, Director of the Company) Enterprises in which the persons referred in (ii) above alongwith their relatives Exercise significant influence:

Goyal MG Gases Pvt. Ltd., Dhamwari Power Co. Pvt. Ltd., Hibra Power Pvt. Ltd.,

Peacock Chemicals Pvt. Ltd., Morgan Infrastructures Developers Pvt. Ltd. and Morgan Signature Towers Pvt. Ltd.

4. Other information pursuant to para 3, 4c & 4d of part II of Schedule VI of the Companies Act, 1956, either NIL or not applicable.

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Jun 30, 2009

1 Figures have been rounded off to the nearest rupee and previous year figures have been regrouped/rearranged wherever necessary.

2. Share Allotment Money receivable from shareholders is subject to reconciliation with the share transfer agent.

3. Related Parties Disclosures as required by Accounting Standard (AS 18) are as under: -

1. Names of the related parties with whom transactions have taken place during the year: - Key Management Personnel Mrs.Meera Goyal. Note: Related party relationship is as identified by the company and relied upon by the Auditors.

4. Additional information pursuant to the provisions of Part II of Schedule VI to the Companies Act, 1956 (to the extent applicable).