Notes to Accounts of Hiliks Technologies Ltd.

Mar 31, 2014

1. Previous years figures have been regrouped/rearranged to make them comparable with those of current year.

2. Notes form an integral part of the Balance Sheet and Profit and Loss Account and have been duly authenticated.

3. In the opinion of the Board, the current assets, loans & advances if realized in ordinary course of business have a value at least equal to the amount at which they are stated in the Balance Sheet.

4. Figures have been rounded off to the nearest Rupee.

5. The provisions of AS 15 issued by ICAI, /New Delhi are not applicable to the Company since there are no employees.

6. The Directors have waived their sitting fees.

7. Retirement Benefits

Since the Company does not have any employee as such no accounting policy in respect of Retirement Benefits is required.

8. Earnings per Share:

The Company reports Basic Earnings Per Share in accordance with Accounting Standard - 20; "Earnings Per Share" issued by The Institute of Chartered Accountants of India. Basic EPS is computed by dividing the Net Profit after Tax for the year by the weighted average number of Equity Shares outstanding during the year.

9. Sundry Creditors include a sum of Rs. Nil due to small Scale Industrial Undertakings (Previous year Rs. Nil). The dues have been determined to the extent such parties have been identified on the basis of information available with the Company.

10. Auditors Remuneration relating to audit works Rs.2247/- is provided at the end of year.

11. As per AS 22 issued by ICAI, regarding assessment of Deferred Tax Assets as the Company does not hold any fixed assets the question of timing difference pertaining to depreciation does not arise. As such Deferred Tax Assets/Liabilities is Nil.

12. Number of employees who were:

(a) Employed throughout the year and were in receipt of remuneration of Rs. 60.00. 000/- per annum or more are nil. (Previous Year Nil)

(b) Employed for part of the year and were in receipt of remuneration of Rs 5.00. 000/-per month or more are nil. (Previous Year Nil)

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Mar 31, 2013

1. Previous Years figures have been regrouped/rearranged to make them comparable with those of current year.

2. Schedule '1' to '8' form an integral part of the Balance Sheet and Profit & Loss account and have been duly authenticated.

3. In the opinion of the Board, the current assets, loans & advances if realized in ordinary course of Business have a value at least equal to the amount at which they are stated in the Balance Sheet.

4. The Valuation of Share held as investments have been taken at the rate of Bombay Stock Exchange as on 31.03.2013), which are below cost prices except the Investments in Munak Chemicals Ltd. which had been valued at the rate published on 31.03.2002 till 31.03.06.As the Current market rate is not available and the shares are not traded, as such the value has been taken @ 0.25 paise per share, as a nominal value. The diminution in the value of Investments amounting to Rs.2,757/- has been charged to the P&L as a provision, however, the value of investments have not been affected and the provision has been credited in the Long Term Provision under the head Non-current liabilities.

5. Figures have been rounded off to the nearest of Rupee.

6. The provisions of AS 15 issued by ICAI. New Delhi are not applicable to the company since there are no employees

7. The Directors have waived off their sitting fees.

8. Related party disclosures :

Detail of transaction entered into with related parties during the year as required by Accounting Standard-18 on "Related party disclosures" issued by the Institute of Chartered Accountants of India are as under

9. Sundry Creditors include a sum of Rs. Nil due to Small Scale Industrial Undertakings (Previous year Rs. Nil). The dues have been determined to the extent such parties have been identified on the basis of the information available with the Company.

10. As per AS 22 issued by ICAI. regarding assessment of Deferred Tax Assets as the Company does not hold any fixed Assets the question of timing difference pertaining to depreciation does not arise. As such Deferred Tax Assets/Liabilities is Nil.

11. No Provision for Income Tax has been made for the year under consideration as the company has brought forward losses as per the books of accounts. Similarly no provision for tax under MAT has been made, keeping in view that a TDS has been deducted by bank on Interest and the MAT liability will be met/adjusted out of TDS.

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Mar 31, 2012

1. Previous Years figures have been regrouped/rearranged to make them comparable with those of current year.

2. Schedule '1' to '8' form an integral part of the Balance Sheet and Profit & Loss account and have been duly authenticated.

3. In the opinion of the Board, the current assets, loans & advances if realized in ordinary course of Business have a value at least equal to the amount at which they are stated in the Balance Sheet.

4. The Valuation of Share held as investments have been taken at the rate of Bombay Stock Exchange as on 31.03.2012), which are below cost prices except the Investments in Munak Chemicals Ltd. which had been valued at the rate published on 31.03.2002 till 31.03.06. As the Current market rate is not available and the shares are not traded, as such the value has been taken @ 0.25 paise per share, as a nominal value. The diminution in the value of Investments amounting to Rs. 9,436/- has been charged to the P&L as a provision, however, the value of investments have not been affected and the provision has been credited in the current liabilities.

5. Figures have been rounded off to the nearest of Rupee.

6. The provisions of AS 15 issued by ICAI, New Delhi are not applicable to the company since there are no employees

7. The Directors have waived off their sitting fees.

8. Related party disclosures :

Detail of transaction entered into with related parties during the year as required by Accounting Standard-18 on "Related party disclosures" issued by the Institute of Chartered Accountants of India are as under

9. Enterprises over which Key Management personnel (KMP) are able to exercise significant control and with whom transactions have taken place during the year:-

Munak Chemicals Ltd.

10. Sundry Creditors include a sum of Rs. Nil due to Small Scale Industrial Undertakings (Previous year Rs. Nil). The dues have been determined to the extent such parties have been identified on the basis of the information available with the Company.

11 . As per AS 22 issued by ICAI, regarding assessment of Deferred Tax Assets as the Company does not hold any fixed Assets the question of timing difference pertaining to depreciation does not arise. As such Deferred Tax Assets/Liabilities is Nil.

12 No Provision for Income Tax has been made for the year under consideration as the company has brought forward losses as per the books of accounts. Similarly no provision for tax under MAT has been made, keeping in view that a TDS has been deducted by bank on Interest and the MAT liability will be met/adjusted out of TDS.

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Mar 31, 2011

1. Previous Years figures have been regrouped/rearranged to make them comparable with those of current year.

2. Schedule 'A' to 'G' form an integral part of the Balance Sheet and Profit & Loss account and have been duly authenticated.

3. In the opinion of the Board, the current assets, loans & advances if realized in ordinary course of Business have a value at least equal to the amount at which they are stated in the Balance Sheet.

4. The Valuation of Share held as investments have been taken at the rate of Bombay Stock Exchange as on 31.03.2011), which are below cost prices except the Investments in Munak Chemicals Ltd. which had been valued at the rate published on 31.03.2002 till 31.03.06. As the Current market rate is not available and the shares are not traded, as such the value has been taken @ 0.25 paise per share, as a nominal value. The diminution in the value of Investments amounting to Rs. 53,682/- has been charged to the P&L as a provision, however, the value of investments have not been affected and the provision has been credited in the current liabilities.

5. Figures have been rounded off to the nearest of Rupee.

6. The provisions of AS 15 issued by ICAI, New Delhi are not applicable to the company since there are no employees

7. The Directors have waived off their sitting fees.

8. Related party disclosures :

Detail of transaction entered into with related parties during the year as required by Accounting Standard-18 on "Related party disclosures" issued by the Institute of Chartered Accountants of India are as under

9. Enterprises over which Key Management personnel (KMP) are able to exercise significant control and with whom transactions have taken place during the year:-

1. Munak Chemicals Ltd.

2. Vijay Kumar Garg Contractor Pvt. Ltd.

10. Sundry Creditors include a sum of Rs. Nil due to Small Scale Industrial Undertakings (Previous year Rs. Nil). The dues have been determined to the extent such parties have been identified on the basis of the information available with the Company.

11 . As per AS 22 issued by ICAI, regarding assessment of Deferred Tax Assets as the Company does not hold any fixed Assets the question of timing difference pertaining to depreciation does not arise. As such Deferred Tax Assets/Liabilities is Nil.

Additional information pursuant to the provisions of paragraph 3 & 4 of Part II of Schedule VI of the Companies Act, 1956

a) There were no employees whose remuneration was more than the Limit as prescribed u/s 217(2A) of the Companies Act, 1956.

b) Quantitative Information

Such the Company does not hold Inventory Shares as such quantitative information is Nil.