Notes to Accounts of Dhruv Estates Ltd.

Mar 31, 2015

1 General information

Dhruv Estates Limited (the ‘Company') is a public limited company and is listed on the Bombay Stock Exchange (BSE).

The Company has been incorporated under the provisions of the Companies Act, 1956 (the 'Act') on October 03,1983,

The Company is engaged in construction and contracting,

2 Previous year figures

Previous year's figures have been recast/restated where necessary.

---

Mar 31, 2014

1 General information

Dhruv Estates Limited (the ''Company'') is a public limited company and is listed on the Bombay Stock Exchange (BSE).

The Company has been incorporated under the provisions of the Companies Act, 1956 (the ''Act'') on January 7, 1993.

The Company is engaged in construction and contracting.

Contingent Liabilities: Contingent liabilities are disclosed when there is a possible obligation arising from past events, the existence of which will be confirmed only by the occurrence or non occurrence of one or more uncertain future events not wholly within the control of the company or a present obligation that arises from past events where it is either not probable that an outflow of resources will be required to settle or a reliable estimate of the amount cannot be made.

2.1 Cash and cash equivalents

In the cash flow statement, cash and cash equivalents includes cash in hand, demand deposits with banks, other short-term highly liquid investments with original maturities of three months or less.

2.2 Current tax

Tax expense for the period, comprising current tax and deferred tax, are included in the determination of the net profit or loss for the period. Current tax is measured at the amount expected to be paid to the tax authorities in accordance with the taxation laws prevailing in the respective jurisdictions.

2.3 Earning per share

Basic earnings per share is calculated by dividing the net profit or loss for the period attributable to equity shareholders by the weighted average number of equity shares outstanding during the period. Earnings considered in ascertaining the Company''s earnings per share is the net profit for the period after deducting any attributable tax thereto for the period. The weighted average number of equity shares outstanding during the period and for all periods presented is adjusted for events, such as bonus shares, other than the conversion of potential equity shares, that have changed the number of equity shares outstanding, without a corresponding change in resources. For the purpose of calculating diluted earnings per share, the net profit or loss for the period attributable to equity shareholders and the weighted average number of shares outstanding during the period is adjusted for the effects of all dilutive potential equity shares.

3 Previous year figures

Previous year''s figures have been recast/restated where necessary.

---

Mar 31, 2013

1 General Information

Dhruv Estates Limited (the ''Company'') is engaged in Construction and Contracting Services.The Company is a public limited company and is listed on the Bombay Stock Exchange(BSE).

2 Previous Year Figures

The financial statements for the year ended March 31, 2012 had been prepared as per the then applicable, pre-revised Schedule VI to the Companies Act, 1956. Consequent to the notification of Revised Schedule VI under the Companies Act, 1956, the financial statements for the year ended March 31,2013 are prepared as per Revised Schedule VI. Accordingly, the previous year figures have also been reclassified to conform to this year''s classification. The adoption of Revised Schedule VI for previous year figures does not impact recognition and measurement principles followed for preparation of financial statements.

---

Mar 31, 2012

1 General Information

Dhruv Estates Limited (the 'Company') is engaged in Construction and Contracting Services.

The Company is a public limited company and is listed on the Bombay Stock Exchange (BSE).

2 Previous Year Figures

The financial statements for the year ended March 31, 2011 had been prepared as per the then applicable, pre-revised Schedule VI to the Companies Act, 1956. Consequent to the notification of Revised Schedule VI under the Companies Act, 1956, the financial statements for the year ended March 31,2012 are prepared as per Revised Schedule VI. Accordingly, the previous year figures have also been reclassified to conform to this year's classification. The adoption of Revised Schedule VI for previous year figures does not impact recognition and measurement principles followed for preparation of financial statements.

---

Mar 31, 2011

1) The right to occupy the time share property is from the period 1 -5-1996 to 1 -5-2029. However, no amortisation is being made as the said right is transferable and the Management is hopeful of recovering atleast the cost.

2) In the opinion of Board of Directors, the Current Assets and Loans & Advances have a value of realisation in the ordinary course of business at least equal to the amount at which they are stated and adequate provision has been made for all known liabilities and depreciation.

Note: The land is registered in the name of Mr. Deepak K Kanungo, a relative of a director and purchased from him vide agreement to sale dated 23rd June, 1992. The transfer in the name of the Company and/or in the name of the incoming/prospective buyers of the proposed development will be done in due course of time. For this purpose, Power of Attorney has already been obtained by the Company.

3) (a) Payment of Gratuity to the Employees is made every year under the head "Ex-Gratia Payment" and hence no provision for Gratuity Liability has been made.

(b) Provision for encashment of Leave/Leave Travel Allowance has not been made, as none of the employees is entitled to for the same in view of utilisation of the admissible leave by the employees.

4) Previous Year's figures have been regrouped/rearranged wherever considered necessary.

---

Mar 31, 2010

1) The right to occupy the time share property is from the period 1-5-1996 to 1-5-2029. However, no amortisation is being made as the said right is transferable and the Management is hopeful of recovering atJeast the cost.

2) In the opinion of Board of Directors, the Current Assets and Loans & Advances have a value of realisation in the ordinary course of business at least equal to the amount at which they are stated and adequate provision has been made tor all known liabilities and depreciation.

Note: The land is registered in the name of Mr. Deepak K Kanungo, a relative of a director and purchased from him vide agreement to sale dated 23rd June, 1992. The transfer in the name of the Company and/or in the name of the incoming/prospective buyers of the proposed development will be done in due course of time. For this purpose, Power of Attorney has already been obtained by the Company.

3) (a) Payment of Gratuity to the Employees is made every year under the head "Ex-Gratia Payment" and hence no provision for Gratuity Liability has been made.

(b) Provision for encashment of Leave/Leave Travel Allowance has not been made, as none of the employees is entitled to for the same in view of utilisation of the admissible leave by the employees.

4) Previous Years figures have been regrouped/rearranged wherever considered necessary.