Notes to Accounts of Gallops Enterprise Ltd.

Mar 31, 2010

(1) Contingent Liablities Rs. Nil (Previous Year Rs Nil)

(2) No provision has been made for accruing liability payable in future in respect of Gratuity and Leave encashment on retirement, amount undetermined.

Deferred Tax Assets relating to unabsorbed Depreciation has been recognised only to the extent to which it can be realised due to reversal of timing difference

(3) The Company is engaged in single business and geographical segment and hence separate segment information is not applicable.

(4) There are no Micro and Small Enterprises , to whom the Company owes dues, which are outstanding for more than 45 days as at 31st March, 2010. 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) Previous years figures have been regrouped/rearranged , wherever necessary Figures in the brackets are for the previous year

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Mar 31, 2009

(1) Contingent Li a billies Rs Nil (Previous Year Rs Nil)

(2) Estimated amount of contracts remaining to be executed on capital account and not provided for Net of Advance Rs.Nil. (Previous Year Rs. 6,95,000/-)

(3) During the year, the name of the Company has been Changed from Ficon Lease And Finance Limted to Gallops Enterprise Limited.

(4) Exceptional items comprises of provision for non performing assets of Rs.180 26 lacs being no longer required written back including for some of the non performing assets of Rs. 83 97 lacs which were written off earlier but recovered during the year. .

(5) Payments to and provisions for employees include remuneration paid to Dinectars Rs. Nil (Previous year Rs 1,61,200/-)

(6) No provision has been made for accruing libility payable in future in respect of Gratuity and Leave encashment on retirement, amount undetermined

Deferred Tax Asseis relating to unabsorbed Depreciation has been recognised only to the extent to which it can be realised due to reversal of timing difference

{7) The Company is engaged in single business and geographical segment and tie nee separate segment information is not applicable

(8) There are no Micro and Small Enterprises , to whom the Company owes does, which are outstanding for more than 45 days as at 31st March. 2009. This information as required to be disclosed under the Micro, Small and Medium Enterprises Development Act,2006 has bean determined to the extent such parties have been identified on the basis of information available wrlh the Company.

(9) Previous years figures have been rggrouped/rearranged . wherever necessary Figures in the brackets are for the previous year