Notes to Accounts of Visagar Financial Services Ltd.

Mar 31, 2014

1. RETIRMENT BENEFITS

Provision for Payment of Gratuity Act, 1972 is not applicable and as such no provision is made. Leave Encashment, if any, would be accounted for as and when paid.

2. In the opinion of the Board the value of Current Assets, Loans & Advances have a value in ordinary course of business at least equal to that stated in the Balance Sheet except in case of those show in doubtful. Loans & Advances, Sundry Debtors & Sundry creditors are subject to confirmation from the parties.

3. No Interest has been provided for the year on loans & advances made by the Company during the year in many cases.

4. Estimated Amount of Contracts Remaining to be executed on Capital Accounts and not provide for Rs. NIL.

5. Additional information Pursuant to the Provision of Paragraph 3, 4C and 4D of part II of the Schedule VI of the Companies Act, 1956.

a. Particulars of Purchase, Turnover and Stock of Goods traded in -

b. Other additional information - NIL (Previous Year NIL)

c. Earning & Expenditure in Foreign Currency - NIL (Previous Year NIL)

6. Previous Year''s Figure have been Regrouped and rearrange wherever found necessary.

---

Mar 31, 2013

1. In the opinion of the Board the value of Current Assets, Loans & Advances have a value in ordinary course of business at least equal to that stated in the Balance Sheet except in case of those show in doubtful. Loans & Advances, Sundry Debtors & Sundry creditors are subject to confirmation from the parties.

2. No Interest has been provided for the year on loans & advances made by the Company during the year in many cases.

3. Estimated Amount of Contracts Remaining to be executed on Capital Accounts and not provide for Rs. NIL.

4. Additional information Pursuant to the Provision of Paragraph 3, 4C and 4D of part II of the Schedule VI of the Companies Act, 1956.

A. Particulars of Purchase, Turnover and Stock of Goods traded in –

B. Other additional information – NIL (Previous Year NIL)

C. Earning & Expenditure in Foreign Currency – NIL ( Previous Year NIL)

5. Previous Year''s Figure have been Regrouped and rearrange wherever found necessary. Signature to the Schedule 1 to 19 forming part of the Balance Sheet & Profit & Loss Account.

---

Mar 31, 2012

1. In the opinion of the Board the value of Current Assets, Loans & Advances have a value in ordinary course of business at least equal to that stated in the Balance Sheet except in case of those show in doubtful. Loans & Advances, Sundry Debtors & Sundry creditors are subject to confirmation from the parties.

2. No Interest has been provided for the year on loans & advances made by the Company during the year in many cases.

3. Estimated Amount of Contracts Remaining to be executed on Capital Accounts and not provide for Rs. NIL.

4. Additional information Pursuant to the Provision of Paragraph 3, 4C and 4D of part II of the Schedule VI of the Companies Act, 1956.

A. Particulars of Purchase, Turnover and Stock of Goods traded in -

B. Other additional information - NIL (Previous Year NIL)

C. Earning & Expenditure in Foreign Currency - NIL ( Previous Year NIL)

5. Previous Year's Figure have been Regrouped and rearrange wherever found necessary.

Signature to the Schedule 1 to 19 forming part of the Balance Sheet & Profit & Loss Account.

---

Mar 31, 2011

1. In the opinion of the Board the value of Current Assets, Loans & Advances have a value in ordinary course of business at least equal to that stated in the Balance Sheet except in case of those show in doubtful. Loans & Advances, Sundry Debtors & Sundry creditors are subject to confirmation from the parties.

2. No Interest has been provided for the year on loans & advances made by the Company during the year in many cases.

3. Estimated Amount of Contracts Remaining to be executed on Capital Accounts and not provide for Rs. NIL.

4. Additional information Pursuant to the Provision of Paragraph 3, 4C and 4D of part II of the Schedule VI of the Companies Act, 1956.

A. Particulars of Purchase, Turnover and Stock of Goods traded in –

B. Other additional information – NIL (Previous Year NIL)

C. Earning & Expenditure in Foreign Currency – NIL ( Previous Year NIL)

5. Previous Year's Figure have been Regrouped and rearrange wherever found necessary.

---

Mar 31, 2010

1. In the opinion of the Board the value of Current Assets, Loans & Advances have a value in ordinary course of business at least equal to that stated in the Balance Sheet except in case of those show in doubtful. Loans & Advances, Sundry Debtors & Sundry creditors are subject to confirmation from the parties.

2. No Interest has been provided for the year on loans & advances made by the Company during the year in many cases.

3. Estimated Amount of Contracts Remaining to be executed on Capital Accounts and not provide for Rs. NIL.

4. Additional information Pursuant to the Provision of Paragraph 3, 4C and 4D of part II of the Schedule VI of the Companies Act, 1956.

A. Particulars of Purchase, Turnover and Stock of Goods traded in -

B. Other additional information - NIL (Previous Year NIL)

C. Earning & Expenditure in Foreign Currency - NIL (Previous Year NIL)

5. Previous Year's Figure have been Regrouped and rearrange wherever found necessary. Signature to the Schedule 1 to 13 forming part of the Balance Sheet & Profit & Loss Account.