Notes to Accounts of Virya Resources Ltd.

Mar 31, 2014

1. TRADE RECEIVABLES

Trade receivables outstanding for a period less than six months from the date they are due for payment.

2. Earning Per Share (EPS)

Earning per share calculated as per Accounting Standard 20 on Earning per share issued by the ICAI.

3. Details of related parties:

Associated Companies Relationship Nature of Transaction

Gayatri Projects Limited Associated Companies Contract

Key Management Personnel

Smt. T. Indira Subbarami Reddy Director Loans

4. Previous year figures have been regrouped/rearranged/reclassified wherever necessary to confirm with the current year presentation. All amounts are rounded off to the nearest rupee.

5. Information as per para 4C of part II of Sch. VI of the Companies Act-regarding licensed, installed, actual production is not applicable to the Company.

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Mar 31, 2013

Corporate Information :

Gayatri Tissue and Papers Ltd. was incorporated in the year 1987 executing civil works as sub- contractors.

1. Previous year figures have been regrouped/ rearranged / reclassified wherever necessary to confirm with the current year presentation. All amounts are rounded off to the nearest rupee.

2. Information as per para 4C of part II of Sch. VI of the Companies Act - regarding licensed, installed, actual production is not applicable to the Company.

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Mar 31, 2012

Corporate Information :

Gayatri Tissue and Papers Ltd. was incorporated in the year 1987 executing civil works as sub-contractors.

1. Earning Per Share (EPS)

Earning per share calculated as per Accounting Standard 20 on Earning per share issued by the ICAI. For the purpose of computing

2. Till the year ended March 31, 2011, the company was using the erstwhile Schedule VI to the Companies Act, 1956 for preparation and presentation of its financial statements. During the financial year ended March 31, 2012, the revised schedule VI notified under the Companies Act, 956 has become applicable to the company. The Company has accordingly, reclassified previous year figures to conform to the current years classification.

3. Information as per para 4C of part II of Sch. VI of the Companies Act - regarding licensed, installed, actual production is not applicable to the Company.

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Mar 31, 2011

1.1. Current Assets and Liabilities:

The balances of the Sundry Debtors, Creditors, loans and advances, advances received from Contractees etc., are subject to confirmation from respective parties. In the opinion of management, the aggregate value of the above, on realization/payment in the ordinary course of business will not be less/more than the amounts at which these are stated in the balance sheet.

2.2. Related Party Transactions

Details of related parties:

Associated Companies Relationship Nature of Transaction

Gayatri Projects Limited Associated Companies Contract

Gayatri Capital Limited Associated Companies Loans

Deep Corporation Pvt. Ltd. Associated Companies Rent

T.S.R. Holding Pvt. Ltd Associated Companies Loans

Key Management Personnel

Smt. T. Indira Director Loans

2.6. Information as per para 4C of part II of Sch. VI of the Companies Act – regarding licensed, installed, actual production is not applicable to the Company.

3. Previous year figures have been regrouped and recasted wherever necessary.

4. All amounts are rounded off to nearest rupees.

5. Schedule 1 to 8 form an integral part of accounts.

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Mar 31, 2010

1.1. Current Assets and Liabilities:

The balances of the Sundry Debtors, Creditors, loans and advances, advances received from Contractees etc., are subject to confirmation from respective parties. In the opinion of management, the aggregate value of the above, on realization/payment in the ordinary course of business will not be less/more than the amounts at which these are stated in the balance sheet.

1.2. Information as per para 4C of part II of Sch. VI of the Companies Act – regarding licensed, installed, actual production is not applicable to the Company.

2. Scrap Value of Furniture and Fixtures of Rs.2,466 shown under depreciation for the year is shown under Miscellaneous head.

3. Previous year figures have been regrouped and wherever necessary.

4. All amounts are rounded off to nearest rupees.

5. Schedule 1 to 8 form an integral part of accounts.

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Mar 31, 2009

1.1. Current Assets and Liabilities:

The balances of the Sundry Debtors, Creditors, loans and advances, advances received from Contractees etc., are subject to confirmation from respective parties. In the opinion of management, the aggregate value of the above, on realization/payment in the ordinary course of business will not be less/more than the amounts at which these are stated in the balance sheet.

1.2. Information as per para 4C of part II of Sch. VI of the Companies Act - regarding licensed, installed, actual production is not applicable to the Company.

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

3. All amounts are rounded off to nearest rupees.