Notes to Accounts of Presha Metallurgical Ltd.

Mar 31, 2015

Contingent Liabilities are disclosed when the Company has a possible obligation or a present obligation and it is probable that a cash outflow will not be required to settle the obligation.

Note: 1. No remuneration has been paid to the directors during the year.

Note: 2. Related Party Transaction. No related party transaction were carried out during the year

Note: 3. Segment Information: There is no reportable segment as per the contention of the management.

Note: 4. CONTINGENT LIABILITIES:

A Demand of Income Tax of Rs. 21,50,51,870/- is pending for the A.Y. 2012-13 against the company Aggrieved by the order, an appeal was filed before the CIT. The said Appeal is yet pending for disposal. The company is hopeful of getting a favorable decision from the Appellate authorities.

Note: 5. Basic and Diluted Earning per share (EPS) computed in accordance with Accounting Standard (AS) 20 "Earning Per Share"

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Mar 31, 2013

(1) The Accounts are prepared on an accrual basis except otherwise stated and under the historical cost conventions, and are in line with the relevant laws as well as the guidelines prescribed by the Department of Company affairs and the Institute of Chartered Accountants of India.

Note: 2 Expenditure in foreign currency: Nil

Note: 3 Expenditure in foreign currency: Nil

Note: 4 Balance of Sundry Debtors, Creditors, Loans & Advances given and accepted as agreed by the management, is subject to confirmation.

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Mar 31, 2012

(1) The Accounts are prepared on an accrual basis except otherwise stated and under the historical cost conventions, and are in line with the relevant laws as well as the guidelines prescribed by the Department of Company affairs and the Institute of Chartered Accountants of India.

Note: 1 Expenditure in foreign currency: Nil Note: 21 Incomes in Foreign Currency : Nil

Note: 2 Balance of Sundry Debtors, Creditors, Loans & Advances given and accepted as agreed by the management, is subject to confirmation.

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Mar 31, 2010

1. In the opinion of the management, the Provident Fund and ESI Act are not applicable to the terms of employment of any employee of the Company. Hence, no provision or payment has been made for the same. As no employees of the Company has put in the qualifying period of services for the entitlement of gratuity benefits. No provision has been made for the same.

2. Additional information pursuant to part IV of the Schedule VI of the Companies Act, 1956 are as per annexure enclosed.

3. Balance in respect of Creditors and Banks is subject to reconciliation and confirmation.

4. There is no contingent liability in the Company.

5. There are no employees drawing remuneration exceeding Rs.12,00,000/- per annum or Rs. 1,00,000/- per month as the case may be.

6. The Company has not made any payment to any related party as required by AS-18 of ICAI.

7. Previous years figures have been regrouped / rearranged wherever necessary so as to confirm to the balance of the current year.

9. There is no additional information pursuant to Para (3) & (4) of part II of Schedule VI of the Companies Act, 1956.

10. Expenditure incurred in foreign currency is NIL.

11. The deferred tax liability is not provided as Signature to Schedules 1 to 8 As per our report of even date amount pertaining to it is NIL.

12. We confirm that the above Balance Sheet has been correctly extracted from the accounts of the Company for the year ended 31st March, 2010 audited by us.