Notes to Accounts of Disha Resources Ltd.

Mar 31, 2015

11. Contingent Liabilities :

As at 31-03-15 As at 31-03-14

a. Estimated amount of contracts Remaining to be executed on CapitalA/c and not provided For -Nil- -Nil-

b. Outstanding guarantee furnished To Banks/Financial Institutions -Nil- -Nil-

c. Outstanding guarantee furnished In respect of credit facilities to Others -Nil- -Nil-

d. Liabilities in respec of bills Discounted with Banks -Nil- -Nil-

e. Claims against the Company Not acknowledged as debts -Nil- -Nil-

2. Cash in hand & closing stock at the end of the year has not been physically Verified by us.

3. According to the management explanation there are no contingent liabilities/ Losses as on the Balance-Sheet date which shall affect future business of the Enterprise hence not provided for.

To the best of our knowledge & according to the management Representation given to us, no event has occurred during the period from the Balance sheet date to the date of our report which shall materially affect the financial position of the enterprise.

4. Revenue is recognized only when all significant risk & rewards of ownership have been transferred to the buyer & the enterprise has retained no effective control of goods, shares, securities and properties sold.

5. No provision has been made for gratuity as there is no liability at present.

6. Additional information required under schedule VI of part II of the Companies Act, 1956 to the extent not applicable is not given.

7. Disclosure in respect of Related party pursuant to AS 18:

List of related parties and relationship are as under:

Name Nature of relationship

Shri Krishnawatar Kabra Key Management Personnel

Shri Satyanarayan Kabra Key Management Personnel

Shri Jagannath Kabra Relative Of Key Manegement personnel

M/s KSAssociates Related Party

M/s Krishna Corporation Related Party

OmPrakash&Co. Related Party

Ming Feng Impex Pvt Ltd Related Party

Kabra Jewels Pvt Ltd Related Party

Maheshwari Logistics Pvt Ltd Related Party

Mayadevi Kabra Relative Of Key Manegement personnel

Varun Kabra Relative Of Key Manegement personnel

Saroj Kabra Relative Of Key Manegement personnel

Kailash Kabra Relative Of Key Management personnel

8. Net Profit / Loss for the period, prior period item, and change in Accounting policies.

All the extra ordinary and prior period items of income and expenses are separately disclosed in the statement of Profit & Loss in manner such that it's impact on the current profit or loss can be perceived. Further there has not been any change in the company's accounting polices or accounting estimate so as to have a material impact on the current year profit/loss or that of former or latter periods. All the items of income and expenses from ordinary activities with such size and nature such that they become relevant to the explain the performance of the company have been disclosed separately.

9. Taxation

[I] Provision for current Income tax is made in accordance with income tax act 1961.

[II] Deferred Tax Accounting

(i) Deferred tax expenses or benefit is recognized on timing difference being the difference between taxable income and accounting income that originate in one period and are capable of reversal in on or more subsequent periods. Deferred tax assets and liabilities are measured using the tax rates and tax laws that have been enacted are substantively enacted by the balance sheet date.

Deferred tax assets in respect of un absorbed depreciation and carry forward losses are recognized only to the extent that there is virtual certainty that sufficient taxable income will be available to relies these assets. All other deferred tax assets are recognized only to the extent that there is reasonable certainty that sufficient future taxable income will be available to realizes these assets.

ForF.Y. 14-15 as timing differences are Nil, No provision for DTL has been done.

10. The company has assessed its Fixed Assets & Financial Assets for impairment as on 31/03/2015 & Concluded that there have no significant impairment that need to be recognized in the books of accounts.

11. Business Segment Reporting:

The major income of the company is interest income only. Hence there is no reportable business and geographical segments as per AS 17.

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Mar 31, 2014

1. Contingent Liabilities :

As at 31-03-14 31-03-13

a. Estimated amount of contracts Remaining to be executed on Capital A/c and not provided For - Nil - - Nil -

b. Outstanding guarantee furnished To Banks/Financial Institutions - Nil - - Nil -

c. Outstanding guarantee furnished In respect of credit facilities to Others - Nil - - Nil -

d. Liabilities in respect of bills Discounted with Banks - Nil - - Nil -

e. Claims against the Company Not acknowledged as debts - Nil - - Nil -

2. Cash in hand & closing stock at the end of the year has not been physically verified by us.

3. According to the management explanation there are no contingent liabilities/ Losses as on the Balance-Sheet date which shall affect future business of the Enterprise hence not provided for.

To the best of our knowledge & according to the management

Representation given to us, no event has occurred during the period from the

Balance sheet date to the date of our report which shall materially affect the financial position of the enterprise.

4. Revenue is recognized only when all significant risk & rewards of ownership have been transferred to the buyer & the enterprise has retained no effective control of goods, shares, securities and properties sold.

5. No provision has been made for gratuity as there is no liability at present.

6. Additional information required under schedule VI of part II of the Companies Act, 1956 to the extent not applicable is not given.

7. Net Profit / Loss for the period, prior period item, and change in accounting policies.

All the extra ordinary and prior period items of income and expenses are separately disclosed in the statement of Profit & Loss in manner such that its impact on the current profit or loss can be perceived. Further there has not been any change in the company''s accounting policies or accounting estimate so as to have a material impact on the current year profit/loss or that of former or latter periods. All the items of income and expenses from ordinary activities with such size and nature such that they become relevant to explain the performance of the company have been disclosed separately.

8. Taxation :-

[I] Provision for current Income tax is made in accordance with income tax act 1961.

[II] Deferred Tax Accounting :-

(ii) Deferred tax expenses or benefit is recognized on timing difference being the difference between taxable income and accounting income that originate in one period and are capable of reversal in on or more subsequent periods. Deferred tax assets and liabilities are measured using the tax rates and tax laws that have been enacted are substantively enacted by the balance sheet date.

Deferred tax assets in respect of unabsorbed depreciation and carry forward losses are recognized only to the extent that there is virtual certainty that sufficient taxable income will be available to relies these assets. All other deferred tax assets are recognized only to the extent that there is reasonable certainty that sufficient future taxable income will be available to realizes these assets.

For F.Y. 13-14 as timing differences are Nil, No provision for DTL has been done.

9. The company has assessed its Fixed Assets & Financial Assets for impairment as on 31/03/2014 & Concluded that there have no significant impairment that need to be recognized in the books of accounts.

10. Business Segment Reporting :

The major income of the company is interest income only. Hence there is no reportable business and geographical segments as per AS 17.

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Mar 31, 2013

1. The financial statements have been prepared under Historical Cost Convention in accordance with the generally accepted accounting principles and the provisions of the Companies Act, 1956 as adopted consistently by the Company. The same are prepared on a going concern basis. The Company follows mercantile system of accounting and recognizes significant items of income and expenditure on accrual basis.

2. Closing Stock of all shares are valued at cost.

3. In the opinion of the board, current assets and loans and advances are approximately of the value stated, if realized, in the ordinary course of business and all known liabilities have been provided for.

4. Investments are stated at cost, and provision for permanent diminution in value of such investments have been made as per the circumstances.

5. P F Superannuation Fund and other employees benefits scheme are not yet applicable to the company.

6. Previous year figures have been regrouped and rearranged wherever necessary.

7. Balance of Loans, Debtors, Creditors and depositors are subject to confirmation and reconciliation.

8. Contingent Liabilities:

As at 31-03-13 31-03-12

a. Estimated amount of contracts Remaining to be executed on Capital A/c and not provided For Nil Nil

b. Outstanding guarantee furnished

To Banks/Financial Institutions Nil Nil

c. Outstanding guarantee furnished In respect of credit facilities to Others Nil Nil

d. Liabilities in respec of bills Discounted with Banks Nil Nil

e. Claims against the Company '' Not acknowledged as debts Nil Nil

9. Cash in hand & closing stock at the end of the year has not been physically Verified by us.

10. According to the management explanation there are no contingent liabilities/ Losses as on the Balance-Sheet date which shall affect future business of the Enterprise hence not provided for.

To the best of our knowledge & according to the management Representation given to us, no event has occurred during the period from the Balance sheet date to the date of our report which shall materially affect the. financial position of the enterprise.

11. Revenue is recognized only when all significant risk & rewards of ownership have been transferred to the buyer & the enterprise has retained no effective control of goods, shares, securities and properties sold.

12. No provision has been made for gratuity as there is no liability at present.

13. Additional information required under schedule VI of part II of the Companies Act, 1956 to the extent not applicable is not given.

14. Net Profit / Loss for the period, prior period item, and change in Accounting policies. All the extra ordinary and prior period items of income and expenses are separately disclosed in the statement of Profit & Loss in manner such that it''s impact on the current profit or loss can be perceived. Further there has not been any change in the company''s accounting polices or accounting estimate so as to have a material impact on the current year profit/loss or that of former or latter periods. All the items of income and expenses from ordinary activities with such size and nature such that they become relevant to the explain the performance of the company have been disclosed separately.

15. Taxation:-

[I] Provision for current Income tax is made in accordance with income tax act 1961.

[II] Deferred Tax Accounting :- I

(ii) Deferred tax expenses or benefit is recognized on timing difference being the difference between taxable income and accounting income that originate in one period and are capable of reversal in on or more subsequent periods. Deferred tax assets and liabilities are measured using the tax rates and tax laws thai have been enacted are substantively enacted by the balance sheet date.

Deferred tax assets in respect of un absorbed depreciation and carry forward losses are recognized only to the extent that there is virtual certainty that sufficient taxable income will be available to relies these assets. All other deferred tax assets are recognized only to the extent that there is reasonable certainty that sufficient future taxable income will be available to realizes these assets.

For F.Y. 12-13 as timing differences are Nil, No provision for DTL has been done.

16. The company has assessed its Fixed Assets & Financial Assets for impairment as on 31/03/2013 & Concluded that there have no significant impairment that need to be recognized in the books of accounts.

17. Business Segment Reporting :

The major income of the company is interest income only . Hence there is no - reportable business and geographical segments as per AS 17.

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Mar 31, 2012

1. P F Superannuation Fund and other employees benefits scheme are not yet applicable to the company.

2. Previous year figures have been regrouped and rearranged wherever necessary.

3. Balance of Loans. Debtors. Creditors and depositors are subject to confirmation and reconciliation.

4. Contingent Liabilities:

As at 31-03-12 31-03-11

a. Estimated amount of contracts Remaining to be executed on Capital A/c and not provided For -Nil- - Nil -

b. Outstanding guarantee furnished To Banks/Financial Institutions -Nil- -Nil-

c. Outstanding guarantee furnished In respect of credit facilities to Others -Nil- -Nil -

d. Liabilities in respec of bills Discounted with Banks -Nil- - Nil -

e. Claims against the Company Not acknowledged as debts - Nil - - Nil -

4. Cash in hand & closing stock at the end of the year has -not been physically verified by us.

5. According to the management explanation there are no contingent liabilities/ losses as on the Balance-Sheet date which shall affect future business of the enterprise hence not provided for.

To the best of our knowledge & according to the management representation given to us, no event has occurred during the period from the Balance sheet date to the date of our report which shall materially affect the . financial position of the enterprise.

7. Revenue is recognized only when all significant risk & rewards of ownership have been transferred to the buyer & the enterprise has retained no effective control of goods, shares, securities and properties sold.

8. No provision has been made for gratuity as there is no liability at present.

9. Additional information required under schedule VI of part II of the Companies Act, 1956 to the extent not applicable is not given.

10. Net Profit / Loss for the period, prior period item, and change in Accounting policies.

All the extra ordinary and prior period items of income and expenses are separately disclosed in the statement of Profit & Loss in manner such that his impact on the current profit or loss can be perceived. Further here has not been any change in the company's accounting polices or accounting estimate so as to have a material impact on the current year profit/loss or that of for me or latter periods. All the items of income and expenses from ordinary activate with such size and nature such that they become relevant to the explain the performance of the company have been disclosed separately.

11. Taxation:-

[I] Provision for current Income tax is made in accordance with income tax act 1961.

[II] Deferred Tax Accounting :-

(ii) Deferred tax expenses or benefit is recognized on timing difference being the difference between taxable income and accounting income tha originate in one period and are capable of reversal in on or more subsequent periods. Deferred tax assets and liabilities are measured using the tax rates and have been enacted are substantively enacted by the balance sheet date.

Deferred tax assets in respect of un absorbed depreciation and carry forward losses are recognized only to the extent that there is virtual certainty that- sufficient taxable income will be available to relies these assets. All other deferred tax assets are recognized only to the extent that there is reasonable certainty that sufficient future taxable income will be available to realizes For F.Y. 11 -12 as timing differences are Nil, No provision for DTL has been done.

12. The company has assessed its Fixed Assets & Financial Assets for impairment as on 31/03/2012 & Concluded that there have no significant impairment that need to be recognized in the books of accounts.

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Mar 31, 2011

1. The financial statements have been prepared under Historical Cost Convention in accordance with the generally accepted accounting principles and the provisions of the Companies Act, 1956 as adopted consistently by the Company. The same are prepared on a going concern basis. The Company follows mercantile system of accounting and recognizes significant items of income and expenditure on accrual basis.

2. Closing Stock of all shares are valued at cost.

3. In the opinion of the board, current assets and loans and advances are approximately of the value stated, if realized, in the ordinary course of business and all known liabilities have been provided for.

4. Investments are stated at cost, and provision for permanent diminution in value of such investments have been made as per the circumstances.

5. P F Superannuation Fund and other employees benefits scheme are not yet applicable to the company.

6. Previous year figures have been regrouped and rearranged wherever necessary.

7. Balance of Loans, Debtors, Creditors and depositors are subject to confirmation and reconciliation.

8. According to the management explanation there are no contingent liabilities/ losses as on the Balance-Sheet date which shall affect future business of the enterprise hence not provided for.

To the best of our knowledge & according to the management representation given to us, no event has occurred during the period from the Balance sheet date to the date of our report which shall materially affect the financial position of the enterprise.

9. Revenue is recognized only when all significant risk & rewards of ownership have been transferred to the buyer & the enterprise has retained no effective control of goods, shares, securities and properties sold.

10. No provision has been made for gratuity as there is no liability at present.

11. Additional information required under schedule VI of part II of the Companies Act, 1956 to the extent not applicable is not given.

12. Disclosure in respect of Related party pursuant to AS 18: List of related parties and relationship are as under:

13. Net Profit / Loss for the period, prior period item, and change in Accounting policies.

All the extra ordinary and prior period items of income and expenses are separately disclosed in the statement of Profit & Loss in manner such that it's impact on the current profit or loss can be perceived. Further there has not been any change in the company's accounting polices or accounting estimate so as to have a material impact on the current year profit/loss or that of former or latter periods. All the items of income and expenses from ordinary activities with such size and nature such that they become relevant to the explain the performance of the company have been disclosed separately.

14. Taxation :-

[I] Provision for current Income tax is made in accordance with income tax act 1961.

[II] Deferred Tax Accounting :-

Deferred tax expenses or benefit is recognized on timing difference being the difference between taxable income and accounting income that originate in one period and are capable of reversal in on or more subsequent periods. Deferred tax assets and liabilities are measured using the tax rates and tax laws that have been enacted are substantively enacted by the balance sheet date.

Deferred tax assets in respect of un absorbed depreciation and carry forward losses are recognized only to the extent that there is virtual certainty that sufficient taxable income will be available to relies these assets. All other deferred tax assets are recognized only to the extent that there is reasonable certainty that sufficient future taxable income will be available to realizes these assets. For F.Y. 10-11 as timing differences are Nil, No provision for DTL has been done.

15. The company has assessed its Fixed Assets & Financial Assets for impairment as on 31-03-2011 & Concluded that there have no significant impairment that need to be recognized in the books of accounts.

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Mar 31, 2010

1. Previous year figures have been regrouped and rearranged wherever necessary.

2. Balance of Loans, Debtors, Creditors and depositors are subject to confirmation and reconciliation.

3. Contingent Liabilities :

As at 31-03-10 31-03-09

a. Estimated amount of contracts Remaining to be executed on Capital A/c and not provided For -Nil- -Nil-

b. Outstanding guarantee furnished To Banks/Financial Institutions -Nil- -Nil-

c. Outstanding guarantee furnished In respect of credit facilities to Others -Nil- - Nil-

d. Liabilities in respec of bills Discounted with Banks -Nil- -Nil-

e. Claims against the Company Not acknowledged as debts -Nil- -Nil-

4. According to the management explanation there are no contingent liabilities/ losses as on the Balance-Sheet date which shall affect future business of the enterprise hence not provided for.

To the best of our knowledge & according to the management representation given to us, no event has occurred during the period from the Balance sheet date to the date of our report which shall materially affect the . financial position, of the enterprise. -

5. Revenue is recognized only when all significant risk & rewards of ownership have been transferred to the buyer & the enterprise has retained no effective control of goods, shares, securities and properties sold.

6. No provision has been made for gratuity as there is no liability at present.

7. Additional information required under schedule VI of part II of the Companies Act, 1956 to the extent not applicable is not given.

8. Taxation :-

[I] Provision for current Income tax is made in accordance with income tax act 1961.

[II] Deferred Tax Accounting :-

(ii) Deferred tax expenses or benefit is recognized on timing difference being the difference between taxable income and accounting income that originate in one period and are capable of reversal in on or more subsequent periods. Deferred tax assets and liabilities are measured using the tax rates and tax laws that have been enacted are substantively enacted by the balance sheet date.

Deferred tax assets in respect of un absorbed depreciation and carry forward losses are recognized only to the extent that there is virtual eertainty that sufficient taxable income will be available to relies these assets. All other deferred tax assets are recognized only to the extent that there is reasonable certainty that sufficient future taxable income will be available to realizes these assets.

9. As the company has 99.10 % income being generated out of interest on advances, it does not have a separately disclosable Business or Geographic segment as per requirement of AS 17.