Notes to Accounts of Comfort Commotrade Ltd.

Mar 31, 2015

1. Balances of the Sundry Debtors, Loans and Advances and Sundry Creditors are subject to confirmation and resultant reconciliation, if any.

2. There are no dues to Micro and Small Enterprises as at 31st March, 2015. This information as required to be disclosed under the Micro, Small and Medium Enterprises Development Act, 2006 has been determined to the extent such parties have been identified on the basis of information available with the company.

3. In accordance with Accounting standard 'AS -18' relating to Related Party Disclosures, information pertinent to related party transaction is given as under:-

Parties where control exists:

1. Shyam Trade Link PTE Ltd. – Wholly owned Subsidiary at Singapore

2. Anjali Tradelink FZE – Wholly owned Subsidiary at Hamriyah, Sharjah - UAE

4. Deferred Tax

In accordance with Accounting standard AS -22 relating to "Accounting for Taxes on Income" issued by the Institute of Chartered Accountants of India, the Company has recognized a net deferred asset of Rs. 6,905/- as on 31ST March, 2015. (Deferred Tax Liability Previous Year Rs. 61,544/-).

5. Segment Reporting :-

In the opinion of the Management, the Company is operating in a single segment only as per the provisions of the accounting standard AS-17, issued by the Institute of Chartered Accountants Of India.

6. The Annual Consolidated Financial results have been prepared by consolidating the Company's Audited Annual Accounts for the financial year 2014-2015 with the Annual Accounts for the year ended 31st March, 2015 of its two wholly owned subsidiaries viz. Shyam Trade Link Pte. Ltd., Keypoint, Singapore and Anjali Tradelink FZE, Hamriyah Free Zone, Sharjah, UAE respectively, which has been considered for the first time. In view of this we have not provided consolidated figures for previous financial year, as they are not comparable to current accounting year. The Company has prepared consolidated financial statements as per AS-21

7. The Previous year figures have been regrouped / rearranged / reclassified wherever necessary. Amounts and other disclosures for the preceding financial year are included as an integral part of current year's financial statements.

---

Mar 31, 2014

(a) Detailed note on shares reserved to be issued under options and contracts / commitment for the sale of shares / divestments including the terms and conditions.

The company does not have any such contract / commitment as on reporting date.

(b) Detailed terms of any securities convertible into shares, e.g. in the case of convertible warrants, debentures, bonds etc.

The company does not have any securities convertible into shares as on reporting date.

2. Contingent Liabilities and Commitments (to the extent not provided for)

Particulars 2013-2014 2012-2013

(A) Contingent Liabilities

(i) Claims against the company not acknowledged as debts - -

(ii) Guarantees 59,75,000 75,00,000

(iii) Other contingent liabilities - -

Total 59,75,000 75,00,000

(B) Commitments N.A N.A

3. Balances of the Sundry Debtors, Loans and Advances and Sundry Creditors are subject to confirmation and resultant reconciliation, if any.

4. There are no dues to Micro and Small Enterprises as at 31st March, 2014. This information as required to be disclosed under the Micro, Small and Medium Enterprises Development Act, 2006 has been determined to the extent such parties have been identified on the basis of information available with the company.

5. In accordance with Accounting standard ''AS -18'' relating to Related Party Disclosures, information pertinent to related party transaction is given as under:- Parties where control exists:

1. Shyam Trade Link PTE Ltd. - Wholly owned Subsidiary at Singapore

2. Anjali Tradelink FZE - Wholly owned Subsidiary at Hamriyah, Sharjah - UAE Parties with whom transaction have taken place during the year.

A. Name of the related parties & description of relationship

a) Key Managerial Personnel and their enterprises :

Shri Anil Kumar Nevatia (Director)

Shri Bharat Shiroya (Director)

Shri Anil Agrawal (Whole Time Director)

Anil Agrawal -HUF

(HUF of Mr. Anil Agrawal, Director)

Shri Sushil Kasturchand Jain (Director)

b) Relative of Key Managerial Personnel : N.A.

c) Associates : Comfort Securities Limited

d) Subsidiary

: Shyam Trade Link PTE Ltd.

: Anjali Tradelink FZE

6. Deferred Tax

In accordance with Accounting standard AS -22 relating to "Accounting for Taxes on Income" issued by the Institute of Chartered Accountants of India, the Company has recognized a net deferred tax liability of Rs. 61,544/- as on 31st March, 2014. (Previous Year 1,11,976/-).

7. Segment Reporting :-

In the opinion of the Management, the Company is operating in a single segment only as per the provisions of the accounting standard AS-17, issued by the Institute of Chartered Accountants Of India.

8. During the fiscal year 2013-2014, the Company had remitted an amount of 1,000 USD in its wholly owned subsidiary (WOS) incorporated on 31st December, 2013 i.e. Shyam Trade Link PTE Ltd located at Singapore. This remittance was toward subscription of shares in its WOS.

9. During the fiscal year 2013-2014, the Company had remitted an amount of 2,00,000 AED in its wholly owned subsidiary (WOS) incorpor -ated on 28th January, 2014 i.e. Anjali Tradelink FZE located at Hamriyah Free Zone Authority, Sharjah, United Arab Emirates. This remittance was toward subscription of shares in its WOS.

10. The utilisation of IPO proceeds

11. The Previous year figures have been regrouped / rearranged / reclassified wherever necessary. Amounts and other disclosures for the preceding financial year are included as an integral part of current year''s financial statements.

---

Mar 31, 2013

Note 1 - Contingent Liabilities and Commitments (to the extent not provided for)

(Amount in INR)

Particulars As at March 31, 2013 As at March 31, 2012

(A) Contingent Liabilities

(i) Claims against the company not acknowledged as - - debts

(ii) Guarantees 7,500,000 7,500,000

(iii) Other contingent liabilities - -

(A) 7,500,000 7,500,000

(B) Commitments

(i) Estimated amount of contracts remaining to be - - executed on capital account not provided for

(ii) Uncalled liabilities on share and other investments - - partly paid up

(iii) Others commitments - -

(B) - -

TOTAL (A B) 7,500,000 7,500,000

2. Balances of the Sundry Debtors, Loans and Advances and Sundry Creditors are subject to confirmation and resultant reconciliation, if any.

3. There are no dues to Micro and Small Enterprises as at 31st March, 2013. This information as required to be disclosed under the Micro, Small and Medium Enterprises Development Act, 2006 has been determined to the extent such parties have been identified on the basis of information available with the company.

4. In accordance with Accounting standard ''AS -18'' relating to Related Party Disclosures, information pertinent to related party transaction is given as under:-

Parties where control exists: Nil

Parties with whom transaction have taken place during the year.

A. Name of the related parties & description of relationship

a) Key Managerial Personnel : Shri Anil Kumar Nevatia (Director) and their enterprises Shri Bharat Shiroya (Director)

Shri Anil Agrawal (Whole Time Director)

Anil Agrawal -HUF

(HUF of Mr. Anil Agrawal, Director)

Shri Sushil Kasturchand Jain (Director)

b) Relative of Key Managerial Personnel : N.A.

c) Associates : Comfort Securities Limited

5. Deferred Tax

In accordance with Accounting standard AS -22 relating to "Accounting for Taxes on Income" issued by the Institute of Chartered Accountants of India, the Company has recognized a net deferred tax liability of Rs. 1,11,976/- as on 31st March, 2013. (Previous Year 87,824/-).

6. Segment Reporting

In the opinion of the Management, the Company is operating in a single segment only as per the provisions of the accounting standard AS-17, issued by the Institute of Chartered Accountants Of India.

7. During the current financial year i.e. FY 2012-13, Company has issued 26,80,000 Equity Shares of face value of Rs. 10/- by way of Bonus Issue making total subscribed, issued and paid up equity share capital to Rs. 4,02,00,000/divided into 40,20,000 equity shares of Rs. 10/- each.

8. During the current financial year i.e. FY 2012-13, Company has issued 60,00,000 Equity Shares of face value of Rs. 10/- at an issue price of Rs. 10/- per Equity Share by way of Initial Public Offer making total subscribed, issued and paid up equity share capital to Rs. 10,02,00,000/- divided into 1,00,20,000 equity shares of Rs. 10/- each.

9. The utilization of IPO proceeds

10. The Previous year figures have been regrouped / rearranged / reclassified wherever necessary. Amounts and other disclosures for the preceding financial year are included as an integral part of current year''s financial statements.