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Notes to Accounts of Ace Tours Worldwide Ltd.

Mar 31, 2015

1. Term/rights attached to equity shares

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

In the event of the liquidation of the company, the holders of equity shares will be entitled to receive remaining assets of the company, after distribution of all preferential amounts. The distribution will be In proportion to the number of equity shares held by the shareholders.

2. No shares have been reserved for issue under options and contracts1 cimmitments for the sale of investmentmeat

3. During me past 5 years the company has not alloted any shares pursuant to contracts. without payment being account in cash

4. During the past 5 years me company has not allotted any bonus shares.

5. During the past 5 yeans the company nas not bought back any shares,

6. no shares have been forfeited by the company.

Mar 31, 2014

1 Estimated amount of contracts remained to be executed on capital accounts is Rs. Nil.

2 Contingent liability in respect of bills discounted with bank is Rs. Nil.

3 There is no employee who was in receipt of remuneration, which in aggregate was more than Rs. 60,00,000/- per annum if employed throughout the year and not less than Rs. 5,00,000/- per month if employed for part of the year.

4 The company has not received balance confirmation from few of the Sundry creditors and Sundry debtors at the end of Balance sheet date

5 The company has requested its suppliers to furnish the information whether they are registered under the provisions of The Micro, Small and Medium Enterprises Development Act, 2006. The company has not received any information in this regard. Hence, disclosure as required under Section 22 of the said Act could not be furnished.

6 As the company''s business activity falls within a single primary business segment viz. tours and travels, the disclosure requirements of Accounting Standard (AS)-17 on segment reporting issued by the Institute of Chartered Accountants of India are not applicable.