Notes to Accounts of Stellant Securities (India) Ltd.

Mar 31, 2013

1 In the opinion of the Board of Directors, the Current Assets, Loans and Advances have a value of realisation in the ordinary course of business equal to the amount at which they are stated in the Balance Sheet.

2 The balances of unsecured loans, debtors, Creditors, Loans and advances and advances received are subject to confirmation and consequential adjustments.

3. The company is operating in a single segment i.e. trading of goods.

4. Based on the information available with the company regarding status of suppliers as defined under MSMED Act, 2006 there is no amount payable to the Micro, Small and Medium Enterprises.

5. The company had invested Rs. 200 lacs (20,00,000 equity share of Rs. 10/- each) ''n a wholly owned subsidiary company.

6. Earning Per Share

Earning Per Share (EPS) computed in accordance with Accounting Standard 20 issued by the Institute of Chartered Accountants of India.

7. Related Party Transactions during the year as per Accounting Standard 18:

a) Name of the related parties & Description of Relationship

- Holding Company : Nil

- Subsidiary Company : STELLANT STOCK BROKING PRIVATE

LIMITED

- Proprietary Concern : Nil

- Partnership Firm : Nil

- Private / Public Limited Companies : Nil

- Key Management Personnel

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Mar 31, 2012

1 In the opinion of the Board of Directors, the Current' Assets, Loans and Advances have a value of realisation in the ordinary course of business equal to the amount at which they are stated in the Balance Sheet.

2 The balances of unsecured loans, debtors, Creditors, Loans and advances and advances received are subject to confirmation and consequential adjustments.

3. The company is operating in a. single segment i.e. trading of goods.

4.In accordance with the Notification No. GSR 719 (E) dt 16.11.2007, issued by the Ministry of Corporate Affairs, certain disclosures are required to be made relating to Micro, small and medium Enterprises as defined under the Micro, small and medium development Act 2006. The company is in the process of compiling relevant information from its suppliers about their coverage under the said act. Since the relevant information is still not available, no disclosures have been made in the accounts.

5. The company had invested Rs. 200 lacs (20,00,000 equity share of Rs. 10/- each) in a wholly owned subsidiary company.

6. Guarantee amounting to Rs. 5000 (Previous Year Rs. 5000) given by Bank of Baroda World Branch. In favour of Central Sales Tax Authority has not been provided for.

7. Related Party Transactions during the year as per Accounting Standard 18: a) Name of the related parties & Descripting of Relationship

- Holding Company - Nil

- Subsidiary Company : STELLANT STOCK BROKING PRIVATE LIMITED

8. Contingent Liabilities:

Guarantee amounting to Rs. 5000 (Previous Year Rs. 5000) given by Bank of Baroda Worlds Branch. In favour of Central Sales Tax Authority has not been provided for.

9. Previous year's figures

The financial statements for the year ended 31st March, 2011 had been prepared as per then applicable, pre-revised Schedule VI to the Companies Act, 1956. Consequent to the notification of Revised Schedule VI under the Companies Act, 1956, the financial statements for the year ended 313t March, 2012 are prepared as per revised schedule VI. Accordingly, the previous year figures have also been reclassified to conform to this year's classification. The adoption of revised Schedule VI for previous year figures does not impact recognition and measurement principles followed for preparation of financial statements.

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Mar 31, 2010

1 In the opinion of the Board of Directors, the Current Assets, Loans and Advances have value of realisation in the ordinary course of business.

2 In view of the brought forward losses, no provision has been made for income tax. However, provision of Rs. 14,95,735/- has been made in respect of liabilities towards MAT.

3 The following bank accounts has not been reconciled for non availability of Bank Statement.

1. Indian Overseas Bank- Bombay Branch

2. Bank of Baroda- Delhi Branch

3. Bank of Baroda- Marine Drive Branch

4. Allahabad Bank - Ahmedabad Branch

However, no transaction has been routed through these bank accounts during the year..

4. Contingent Liabilities:

a) Guarantee amounting to Rs. 5000 (Previous Year Rs. 5000) given by Bank of Baroda Worli Branch. In favour of Central Sales Tax Authority has not been provided for.

5. Previous years figures have been regrouped/ rearranged wherever necessary to confirm to current position.

6. Tax on Income:

A. Deferred Taxes: The Company has unabsorbed carry forward losses/depreciation available for set-off under the Income Tax Act, 1961. However, in view of present uncertainty regarding generation of sufficient future income, net deferred tax assets at the year end including related credits/charge for the year have not been recognised in these accounts on prudent basis.

B. Current Taxes: Current Tax is determined on the profit for the year in accordance with the provisions of the Income tax Act, 1961.

7. The company is operating in single segment

8. Related Party Disclosures.

Related party disclosures as required under Accounting Standard 18 (AS- 18) on "Related Party Disclosures" issued by the institute of chartered accountants of India (ICAI) are given below.

A) Relationships:

i) Subsidiary company: STELLANT STOCK BROKING (P) LTD.

ii) Associate Company: NIL

iii) Key Management Personnel:

a.) Mrs. MANGLA S RATHOD

iv) Relatives of Key Management Personnel: None

v) Entities over which key management personnel are able to exercises significant influence : None