Notes to Accounts of Vasudhagama Enterprises Ltd.

Mar 31, 2015

1. Rights , preferences and restrictions attached to Equity Shares :

(a) The Company has only one class of shares referred to as equity shares having a par value of Rs. 10/-.

(b) Each holder of equity shares is entitled to one vote per share.

(c) No member shall exercice any voting rights in respect of any shares registered in his name on which any calls or other sums presently payable by him have not been paid or in regard to which the Company has extercised any right of lien.

(d) In the event of liquidation of the Company, the holders of equity shares shall be entitled to receive remaining assets of the Company, after distribution of all preferential amounts. The amount distributed will be in proportion to the number of equity shares held by the shareholders.

2. ere no shares reserved at the year-end for issue under options and contracts / commitments for the sale of shares / disinvestment.

3. There were no unpaid calls as on 31st March 2015.

There were 2,48,100 partly paid up shares on 31st March 2014, out of which 31,000 shares were converted into fully paid up shares, on receipt of unpaid amount of Rs. 5/-per share and the remaining 2,17,100 shares were forfeited as on 12th Nov 2014.

4. During the year, the Company has forfeited and cancelled 217100 partly paid-up equity shares on 12th November, 2014 due to non-receipt of call money. Consequently, Rs. 10,85,500/- has been transferred from "Share Capital Account" to the "Capital Reserve Account".

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Mar 31, 2014

1. Rights , preferences and restrictions attached to Equity Shares :

(a) The Company has only one class of shares referred to as equity shares having a par value of Rs. 10/-.

(b) Each holder of equity share is entitled to one vote per share except partly paid up shares.

(c) No member shall exercice any voting rights in respect of any shares registered in his name on which any calls or other sums presently payable by him have not been paid or in regard to which the Company has extercised any right of lien.

(d) In the event of liquidation of the Company, the holders of equity shares shall be entitled to receive remaining assets of the Company, after distribution of all preferential amounts. The amount distributed will be in proportion to the number of equity shares held by the shareholders.

2. DEFERRED TAX ASSETS / LIABILITIES (NET) :

In accordance with Accounting Standard 22 "Accounting for Taxes on Income", the Company has Deferred Tax Assets of Rs. 431/- ( Previous Year Rs. 560/-) and Deferred Tax Liabilities of Rs. NIL (Previous Year Rs. Nil).

3. CONTINGENT LIABILITIES :

The Company does not have any contingent liabilities in the nature of claims or guarantees.

4. In the opinion of the Board of Directors, all current assets and loans & advances are of the value stated, if realised in ordinary course of business and provision for all known liabilities are adequate and not in exceess of the amount reasonably necessary.

5. In view of the nature of the business of the Company, there is no requirement of import of raw materials and as such value of imported raw materials calculated on C.I.F. basis is not applicable.

6. There are no earnings or expenditure in foreign currency / exchange.

7. Investments are stated at cost.

8. Consumption of raw materiel and details of Stock :

The company is not engaged in manufacturing activity, hence there is no consumption of raw materiel. There is no closing stock in hand as on last day of the financial year.

9. Capacity utilization :

In view of the nature of the business of the company the para of capacity utilization does not apply to the company.

10. Related Party Disclosures :

Related party disclosures as required under the Accounting Standard (AS) - 18 on "Related Party Disclosures" notified in Companies (Accounting Standards) Rules, 2006 are given below :

(A) Name of the related parties and description of relationship :

Sr. Description of Relationship Name of the Related Party No. (With whom transaction has taken place during the year)

1 Enterprieses having significant a) Ozone India Limited influence b) Advance Realty Developers

2 Key Managerial Person a) Mr. Jayesh K. Patel

b) Mr. Pranay K. Patel

c) Mr. Deepak M. Patel

d) Mr. Dilip G Patel

3 Relatives of Key Managerial Person a) Mrs. Indiraben Patel

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Mar 31, 2013

1.1 SHARE CAPITAL :

(III) RIGHTS , PREFERENCES AND RESTRICTIONS ATTACHED TO EQUITY SHARES :

(a) The Company has only one class of shares referred to as equity shares having a par value of Rs. 10/-.

(b) Each holder of equity shares is entitled to one vote per share except partly paid up shares.

(c) No member shall exercise any voting rights in respect of any shares registered in his name on which any calls or other sums presently payable by him have not been paid or in regard to which the Company has exercised any right of lien.

(d) In the event of liquidation of the Company, the holders of equity shares shall be entitled to receive remaining assets of the Company, after distribution of all preferential amounts. The amount distributed will be in proportion to the number of equity shares held by the shareholders.

1.2 SEGMENT REPORTING :

The Company is engaged in one reportable segment and therefore disclosures as Accounting Standard (AS) – 17 "Segment Reporting" notified in Companies (Accounting Standards) Rules, 2006 are not given.

1.3 CONTINGENT LIABILITIES :

The Company does not have any contingent liabilities in the nature of claims or guarantees.

1.4 In the opinion of the Board of Directors, all current assets and loans & advances are of the value stated, if realized in ordinary course of business and provision for all known liabilities are adequate and not in excess of the amount reasonably necessary.

1.5 In view of the nature of the business of the Company, there is no requirement of import of raw materials and as such value of imported raw materials calculated on C.I.F. basis is not applicable.

1.6 There are no earnings or expenditure in foreign currency / exchange.

1.8 Investments are stated at cost.

1.9 1/5th of the preliminary expenses have been written off during the year.

1.10 Information u/s. 217(2A) of Companies Act, 1956 read with the Companies (Particulars of Employees) Rules, 1975 and forming part of Directors Report for the year ended 31-03-2013.

Details of employees drawing salary not less than :

Rs. 60,00,000/- p.a. or Rs. 5,00,000/- p.m. : Nil

2. CONSUMPTION OF RAW MATERIEL AND DETAILS OF STOCK :

The company has closing stock of Rs. 1,26,96,884/- as on 31st March 2013, being 1035650 quintals of Jeera and 2400 nos of barman.

3. CAPACITY UTILIZATION :

In view of the nature of the business of the company, the para of capacity utilization does not apply to the company.

4. RELATED PARTY DISCLOSURES :

Related party disclosures as required under the Accounting Standard (AS) – 18 on "Related Party Disclosures" notified in Companies (Accounting Standards) Rules, 2006 are given below :