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Notes to Accounts of Coral Hub Ltd.

Jun 30, 2010

1. Subsidiaries to consolidation:

The consolidated financial statements present the consolidated accounts of Vishal Information Technologies Ltd., with the following subsidiaries.

The consolidated accounts thus includes the results of the aforesaid subsidiaries and there are no other body corporate/entities, where the company hold 50% or more of the share capital or where the Company can control the composition of the Board of Directors/governing bodies of such companies/entities, where the holding may be less than 50%. Significant Accounting Policies and Notes to consolidated financial statements are intended to serve as a means of informative disclosure and a guide to better understand the consolidated position of the Group, Recognizing this purpose, the Company has disclosed only such policies and Notes from the individual financial statements, which fairly present the needed disclosures.

We have verified the above Cash Flow Statement of Vishal Information Technologies Limited derived from Audited Financial Statements for the period ended 30th June 2010 and found the same in accordance therewith, and also with requirements of clause 32 of the listing agreement of the Stock Exchanges.