Notes to Accounts of Virgo Global Ltd.

Mar 31, 2015

1. Contingent Liabilities and Commitments – NIL-

2. Balances under Trade Receivable, Trade Payables, are subjected to confirmation and reconciliation from respective parties.

3. Segment Reporting

There are no separate reportable segments (business and/or geographical) in accordance with the requirements of Accounting Standard 17 – 'Segment Reporting' issued by the Institute of Chartered Accountants of India.

4. Previous year figures have been regrouped wherever if thought necessary in conformity with the current year groupings. Paise have been rounded off to the nearest rupee. Notes on financial statements, Cash Flow Statement and statement on accounting policies form an integral part of the balance sheet and profit and loss statement.

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Mar 31, 2014

1. Particulars of Employees in accordance with Sub-section (2A) of Section 217 of the Companies Act , 1956 read with Companies (Particulars of Employees) Rule 1975. NIL

2. Auditor''s Remuneration :

Audit Fee

Current Year (Rs.) 56,180/-Previous Year (Rs.) 56,180/-

3. The Company is engaged in the provision of Internet services. The production and sales in quantitative terms are not possible, as required under paragraphs 3 & 4C of part -II of Schedule VI to the Companies Act, 1956.

4. There are no dues to SSI Units outstanding for more than 30 days.

5. No confirmations were obtained from debtors/creditors as to the balances receivable from/payable to them as at year end.

6. In accordance with Accounting Standard 22 (AS 22) issued by the ICAI, the Company has accounted for deferred income tax during the year. The deferred income tax assets provision for the current year amounts to Rs. 183/- towards deferred income tax liability . (Previous year Rs 5,938/-towards deferred income tax Asset).

7. The company is contingently liable for Rs. 22.00 lacs towards bank guarantees issued in favour of DoT, ISP.

8. The Company got the approval from High Court of Andhra Pradesh towards reduction of paid-up capital and reduction of Authorized capital vide order number.55 of 2007 dated 24-072007. As per the High Court of Andhra Pradesh direction the Authorised capital of the Company has been reduced to 6,69,74,200/- consisting of 1,67,43,550 equity shares of Rupees 4/ - each.

9. Previous years figures have been regrouped wherever necessary.

10. The figures have been rounded off to the nearest rupee.

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Mar 31, 2013

1 Particulars of Employees in accordance with Sub-section (2A) of Section 217 of the Companies Act , 1956 read with Companies (Particulars of Employees) Rule 1975. NIL

2 The Company is engaged in the provision of Internet services. The production and sales in quantitative terms are not possible, as requiredunder paragraphs 3 & 4C of part -II of Schedule VI to the Companies Act,1956.

3 There are no dues to SSI Units outstanding for more than 30 days.

4 No confirmations were obtained from debtors/creditors as to the balances receivable from/payable to them as at year end.

5 In accordance with Accounting Standard 22 (AS 22) issued by the ICAI,the Company has accounted for deferred income tax during the year. The deferred income tax assets provision for the current year amounts to Rs. 5,938/- towards deferred income tax Asset . (Previous year Rs. 6,988/-towards deferred income tax Asset).

6. The company is contingently liable for Rs. 22.00 lacs towards bank guarantees issued in favour of DOT, ISP.

7 Previous years figures have been regrouped wherever necessary.

8 The figures have been rounded off to the nearest rupee.

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Mar 31, 2012

1. Particulars of Employees in accordance with Sub-section (2A) of Section 217 of the Companies Act' 1956 read with Companies (Particulars of Employees) Rule 1975. NIL

2. The Company is engaged in the provision of Internet services. The production and sales in quantitative terms are not possible' as required under paragraphs 3 & 4C of part -II of Schedule VI to the Companies Act' 1956.

3. There are no dues to SSI Units outstanding for more than 30 days.

4. No confirmations were obtained from debtors/creditors as to the balances receivable from/ payable to them as at year end.

5. In accordance with Accounting Standard 22 (AS 22) issued by the ICAI' the Company has accounted for deferred income tax during the year. The deferred income tax assets provision for the current year amounts to Rs. 6'988/- towards deferred income tax Asset. (Previous year Rs. 6'210/-towards deferred income tax Asset).

6. The company is contingently liable for Rs. 22.00 lacs towards bank guarantees issued in favour ofDoT' ISP.

7. Previous years figures have been regrouped wherever necessary.

8. The figures have been rounded off to the nearest rupee.

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Mar 31, 2011

1. Particulars of Employees in accordance with Sub-section (2A) of Section 217 of the Companies Act , 1956 read with Companies (Particulars of Employees) Rule 1975. NIL

2. Confirmation of Balances with Sundry Debtors and Sundry Creditors

Company has taken necessary steps to get the confirmation of balances from the parties.

3. Segment Reporting ( AS -17)

Since the Company operate in one segment, segment reporting as required under Accounting Standard - 17 is not disclosed here separately.

4. Related Party Transactions (AS-18)

Company related party Transactions - Nil

5. Impairment of Assets ( As -28)

There is no impairment Loss on any assets that has occurred in terms of As -28

6. The Company is engaged in the provision of Internet services. The production and sales in quantitative terms are not possible, as required under paragraphs 3 & 4C of part -II of Schedule VI to the Companies Act, 1956.

7. There are no dues to SSI Units outstanding for more than 30 days.

8. In accordance with Accounting Standard 22 (AS 22) issued by the ICAI, the Company has accounted for deferred income tax during the year. The deferred income tax assets provision for the current year amounts to Rs.6,210/-towards deferred income tax Asset . (Previous year Rs.6,411/- towards deferred income tax Asset).

9.Prior Period Adjustments:

Prior period adjustments of Rs. 7,245 shown in the Profit and Loss account is the net amount of the debits and credits pertaining to previous years, which were not provided during those periods.

10. The company is contingently liable for Rs. 22.00 lacs towards bank guarantees issued in favour of DoT, ISP.

11. Previous years figures have been regrouped wherever necessary.

12. The figures have been rounded off to the nearest rupee.

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Mar 31, 2010

1. Particulars of Employees in accordance with Sub-section (2A) of Section 217 of the Companies Act, 1956 read with Companies (Particulars of Employees) Rule 1975. NIL

2. Auditors Remuneration Rs. 55,150/- (Previsous Year Rs. 56,120/-)

3. The Company is engaged in the provision of Internet services. The production and sales in quantitative terms are not possible, as required under paragraphs 3 & 4C of part -II of Schedule VI to the Companies Act, 1956.

4. There are no dues to SSI Units outstanding for more than 30 days.

5. No confirmations were obtained from debtors/creditors as to the balances receivable from/payable to them as at year end.

6. In accordance with Accounting Standard 22 (AS 22) issued by the ICAI, the Company has accounted for deferred income tax during the year. The deferred income tax assets provision for the current year amounts to Rs. 6,411/- towards deferred income tax Liability. (Previous year Rs. 7,588/- towards deferred income tax Asset).

7. The company is contingently liable for Rs. 22.00 lacs towards bank guarantees issued in favour of DoT, ISP.

8. Previous years figures have been regrouped wherever necessary.

9. The figures have been rounded off to the nearest rupee.