Notes to Accounts of Dugar Housing Developments Ltd.

Mar 31, 2014

1 Corporate information

Dugar Housing Developments Limited (referred to as "DHDL" or the "Company") is engaged in the business of Property Development and Construction activities.

The Company's registered office is in Chennai, Tamilnadu, India.

2. Rights, preferences and restrictions attached to Shares

The Company has one class of Equity Shares having a face value of Rs.10/- each. Each Shareholder is eligible for one vote per Share held. The dividend proposed, if any, by the Board of Directors is subject to the approval of the Shareholders in the ensuing Annual General Meeting, except in the case of interim Dividend. In the event of liquidation, the Equity Shareholders are eligible to receive the remaining assets of the Company after distribution of all preferential amounts, in proportion to their shareholding.

3. Details of shares held by the holding company, the ultimate holding company, their subsidiaries and associates: Nil

4. Details of shares held by each shareholder holding more than 5% shares:

5.Contingent liabilities and commitments (to the extent not provided for)

(i) Contingent liabilities 3,125,000 3,125,000

(ii) Commitments - -

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Mar 31, 2013

Corporate information

Dugar Housing Developments Limited (referred to as "DHDL" or the "Company") is engaged in the business of Property Development and Construction activities.

The Company''s registered office is in Chennai, Tamilnadu, India.

AS 1.1 (including the post tax effect of extraordinary items, if any) by the weighted

AS 1.2 average number of equity shares outstanding during the year. Diluted earnings

AS 1.3 per share, if any, is computed by dividing the profit / (loss) after tax {including the

AS 1.4 post tax effect of extraordinary items, if any) as adjusted for dividend, interest and

AS 1.5 other charges to expense or income relating to the dilutive potential equity shares, by the weighted average number of equity shares considered for deriving basic earnings per share and the weighted average number of equity shares which could have been issued on the conversion of all dilutive potential equity shares.

Potential equity shares are deemed to be dilutive only if their conversion to equity shares would decrease the net profit per share from continuing ordinary operations. Potential dilutive equity shares are deemed to be converted as at the beginning of the period, unless they have been issued ata laterdate. Taxes on Income Current tax is the amount of tax payable on the taxable income for the year as

AS 1.6 determinedinaccord ance with the provisions of the lncome Tax Act,1961.

AS 1.7

AS 1.8 Minimum Alternate Tax (MAT) paid in accordance with the tax laws, which gives

AS 1.9 future economic benefits in the form of adjustment to future income tax liability, is

AS 1.10 considered as an asset if there is convincing evidence that the Company will pay normal income tax. Accordingly, MAT is recognised as an asset in the Balance Sheet when it is probable that future economic benefit associated with it will flow to the Company.

Deferred tax is recognised on timing differences, being the differences between the taxable income and the accounting income that originate in one period and are capable of reversal in one or more subsequent periods. Deferred tax is measuredusingthetaxratesandthetaxlawsenactedorsubstantiallyenactedas at the reporting date. Deferred tax liabilities are recognised for all timing differences. Deferred taxassetsin respect of unabsorbed depreciation and carry forward of losses are recognised only if there is virtual certainty that there will be sufficient future taxable income available to realise such assets. Deferred tax assets are recognised for timing differences of other items only to the extent that reasonable certainty exists that sufficient future taxable income will be available against which these can be realised. Deferred tax assets and liabilities are offset if such items relate to taxes on income levied by the same governing tax laws and the Company has a legally enforceable right for such set off. Deferred tax assets are reviewed ateach Balance Sheetdatefortheirrealisability.

Current and deferred tax relating to items directly recognised in equity are recognised in equity and not in the Statement of Profit and Loss. Impairment of assets

The carrying values of assets/cash generating units ateach Balance Sheet date

AS 1.11 are reviewed for impairment. If any indication of impairment exists, the

AS 1.12 recoverable amount of such assets is estimated and impairment is recognised, if

AS 1.13 the carrying amount of these assets exceeds their recoverable amount. The recoverable amount is the greater of the net selling price and their value in use.

Value in use is arrived at by discounting the future cash flows to their present value based on an appropriate discount factor. When there is indication that an impairment loss recognised for an asset in earlier accounting periods no longer exists or may have decreased, such reversal of impairment loss is recognised in theStatementofProfitandLoss,exceptincaseofrevaluedassets._Provisions and contingencies

Aprovision is recognised when the Company has a present obligation as a result AS 29.14 of past events and it is probab|e tnat an outflow of resources wi|| be required to

AS 1.14 settle the obligation in respect of which a reliable estimate can be made.

AS 1.15 Provisions (excluding retirement benefits) are not discounted to their present value and are determined based on the best estimate required to settle the obligation atthe Balance Sheet date. These are reviewed ateach Balance Sheet date and adjusted to reflect the current best estimates. Contingent liabilities are disclosed in the Notes.

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Mar 31, 2012

1 Corporate information

Dugar Housing Developments Limited (referred TO AS "dhdl" OR THE "cOMPANY") IS ENGAGED IN the business of Property Development and Construction activities.

The Company's registered office is in Chennai, Tamilnadu, India.

(i) Rights, preferences and restrictions attached to Shares

The Company has one class of Equity Shares having a face value of Rs.10/- each. Each Shareholder is eligible for one vote per Share held. The dividend proposed, if any, by the Board of Directors is subject to the approval of the Shareholders in the ensuing Annual General Meeting, except in the case of interim Dividend. In the event of liquidation, the Equity Shareholders are eligible to receive the remaining assets of the Company after distribution of all preferential amounts, in proportion to their shareholding.

(ii) Details of shares held by the holding company, the ultimate holding company, their subsidiaries and associates: Nil

(iii) Details of shares held by each shareholder holding more than 5% shares:

2 The Revised Schedule VI has become effective from 1 April, 2011 for the preparation of financial statements. This has significantly impacted the disclosure and presentation made in the financial statements. Previous year's figures have been regrouped / reclassified wherever necessary to correspond with the current year's classification / disclosure.

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Mar 31, 2010

A) In respect of contracts , the company follows completed contract method and has not made any provision in respect of future loss , if any, that it may incur on the Real Estate projects promoted, as the Board of Directors does not anticipate any Loss.

b) Contingent liabilities with respect to disputed amount of income tax for the A.Y.1999-2000 pending in appeal before ITAT , Chennai amounting to Rs.31.25 Lakhs

c) The figures for the previous accounting year have been regrouped/ rearranged Wherever required.