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Notes to Accounts of Suyog Telematics Ltd.

Mar 31, 2015

1. Terms and Rights attached Is Equity Shares

The company Has only one class of equity shares having a par value of INR 10/- per share. Each holder or equity shares is entered to one vote per Share.

a. Shares held by holding ultimate holdmg company and/or their subsidiaries/associates

b. There are no calls remaining unpaid as on March 31,2015, hence no disclosure is requred pursuant to Hole no. 6(A)(K) of Pan 1 of Schedule VI to me companies Act, 2013.

c.Terms and Rights attached to Equity Shares

The Company has only one class of equity shares having a par value of INR 10/- per share. Each holder of equity share is entitled to one vote per share.

d. Fundraised through Preienentiai Allotment of Equity Shares of the Company

The Company has raised INR 9 crores Irom issuance of preferential allotment of of 20 Lacs equity snares issued at 45/- per share havng face value at INR 10 each and snare premium at INR 35 each during the financial year.

2.(a) Sale of service companies of instaliation Maintanance, Survey, Labour Supply and rental income changed to clients

(b) Other operating revenue compainies reimoursement received for taxes paid on clients behalf.

i. Segment Reporting

The Company is mainly engaged in single segment business of Telecommunication Products and Services, which is managed as one entity and governed by a similar set of risk and returns. Further, operations of the Company is confined to the single geographic segment i.e. India and does not qualify for reporting as geographic segment. Further, in view of the Accounting Standard Interpretation (ASI) 20, issued by the Institute of Chartered Accountants of India for companies operating in single segment, the disclosure requirements as per Accounting Standard 17 "Segment Reporting" are not applicable to the Company.

ii. Contingent Liabilities:

a. As per information and explanation provided by the management that there are no Contingent Liabilities / pending litigations for Income Tax / Sales Taxes / VAT / Service Tax and TDS and no such court cases are pending against the company in any matter except the VAT Liability of I NR 183562/- due for payment for FY 2010-11 vide department letter dated Feb 16, 2015 and liabilities for interest and penalty for delay in payment of Service Tax and TDS during the FY 2014-15 however the company has not accounted the liability for interest on delay in payment of TDS and Service Tax during the year.

b. As per information and explained provided to us by the management, details of the Bank Guarantees issued by the Company are as under:

Sr. Party Name Amount (INR) No.

i. BG Issued in favour of Maharashtra Industrial Development Corporation, Mumbai INR 2,52,900/-

Guarantee No. 0505014BG0000051 issued From 07/01/2014 to by State India, Trade Finance CPC, 30/08/2015 Lower Parel, Mumbai

ii. BG Issued in favour of Maharashtra INR 5,00,000/- State Electricity Development Corporation Limited, Mumbai From 21/08/2013 to Guarantee No. 0505013BG0002456 issued 28/05/2015 by State India, Trade Finance CPC, Lower Parel, Mumbai

iii. BG Issued in favour of BSNL, Dhule INR 53,250/-

Guarantee No. 0505014BG0002595 issued From 27/08/2014 to by State India, Trade Finance CPC, Lower 25/02/2016 Parel, Mumbai

iv. BG Issued in favour of Maharashtra State INR 64,74,500/- Road Development Corporation, Mumbai

Guarantee No. 0505014BG0000518 issued From 27/02/2015 to by State India, Trade Finance CPC, Lower 25/02/2016

Parel, Mumbai

c. In view of Accounting Standard required by AS-28 "Impairment of Assets" issued by ICAI, the company has reviewed its fixed assets and does not expect any loss as on 31st March, 2015 on account of impairment.

d. Income and Expenditures in Foreign Currency: Nil

e. Purchases of material for consumption and installation of polls and towers was made during the financial year include purchases from Unregistered Dealers.

f. Events Occurring After Balance Sheet Date

No significant events have occurred after the Balance sheet date till the signing of report which could affect the financial position as on 31st March, 2015 to a material extent, have been reported by the management

g. In the opinion of the management, current assets, loans and advances have a value on realization in the ordinary course of business at least equal to the amount at which they are stated and similarly all liabilities are payable as on balance sheet date.

h. Balances of Long Term Liabilities, Current Liabilities i.e. Trade Payables, Short Term Liabilities & Other Current Liabilities & Long Term Loans and Advances, Other non Current Assets, Trade Receivables, Short Term Loans and Advances, Sundry Deposits and Other Current Assets are subject to Confirmations, Reconciliation and Consequential Adjustments, if any thereon.

i. The company being listed company required to follow section 203 & 134 (1), However, the view of absence of appropriate candidate for filing vacancy of Company Secretary and CFO have not appointed. The said Key Managerial Personnel as per section 203 and to the extent 134(1) Signing of financial statement have been considered only by director. However, the management has considered the matter in the process of appointing Company Secretary and CFO.

j. In view of multiplicity and difficulty in identification of accounts to Micro, Small and Medium Enterprises, information with regard to amount unpaid at the yearend together with the interest paid / payable under the MSMED Act, 2006 as required under to the Companies Act, 2013 is not disclosed.

k. Secured Loans: The details of Secured Loans balances as on 31.03.2015 and the securities offered for each loan is as under:

l. Related party transactions:

Related Parties and their Relationship Key Management Personnel:

i. Gurushantappa N Lature — Director

ii. Shivshankar G Lature — Director

iii. Vivek Lature - Director

Relative of the Director

i. Suchitra Lature

Enterprises over which Key Management personnel are able to exercise significant influence:

ii. Suyog Telematics (Prop, of Mr. Shiv Shankar Lature)

iii. Suyog Gurbaxani Funicular Ropeways Pvt. Ltd.

m. Prior Year Comparatives: These financial statements have been prepared in the format prescribed by the Revised Schedule VI to the Companies Act. Previous period figures have been recasted / restated to conform to the classification of the current period.

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