Notes to Accounts of Jumbo Finance Ltd.

Mar 31, 2013

1. Employee Benefits (AS - 15)

No provision for gratuity has been made since none of the employees had completed the mandatory period of five years continuous service and hence not entitled to benefit of gratuity.

2. Segment Information (AS - 17)

The Company is engaged in only one business i.e Non Banking Financial Services (granting of loans, making investments, etc.) and as such there are no other reportable segment in the context of Accounting Standard 17 "Segment Reporting". Therefore, Segment Information as required by Accounting Standard - 17 "Segment Reporting" is not applicable.

3. Related Party Disclosures (AS - 18)

Name of related parties and related party relationship:

a) Information in respect of Related Parties:

i) Key Management Personnel :

Smriti Ranka Director

J.P. Khandelwal Director

ii) Enterprises owned or significantly influenced by any management personnel or their relatives: M/s Star Enterprises Trishul Traders Private Limited

4. The Company believes that no impairment of assets arises during the year as per the recommendations of Accounting Standard - 28 Impairment of Assets.

5. Contingent Liabilities

There are no contingent liablity as on balance sheet for which the company is required to make provision in the books of acconts.

6. Details of dues to Micro and Small Enterprises as defined under the MSMED Act, 2006

Based on the intimation received by the Company, none of the suppliers have confirmed to be registered under "The Micro, Small and Medium Enterprises Development (''MSMED'') Act, 2006". Accordingly, no disclosures relating to amounts unpaid as at the year end together with interest paid /payable are required to be furnished.

7. While determining diminution, other than temporary, in the value of the long term quoted / unquoted investments, the strategic objective of such investments and the asset base of the investee companies have been considered. In view thereof, the decline in the market value of such investments is considered to be of a temporary nature.

8. In the opinion of the Board, the Current Assets, Loans & Advances are realizable in the ordinary course of business at least equal to the amount at which they are stated in the Balance Sheet. The provision for all known liabilities is adequate and not in excess of the amount reasonably necessary.

9. Previous year figures

a) Figures are rounded off to nearest rupee.

b) Previous year figures have been regrouped and reclassified wherever necessary to confirm to current year''s presentation.

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Mar 31, 2012

1. Segment Information (AS - 17)

The Company is engaged in only one business i.e Non Banking Financial Services (granting of loans, making investments, etc.) and as such there are no other reportable segment in the context of Accounting Standard 17 "Segment Reporting", issued by the Institute of Chartered Accountants of India. Therefore, Segment Information as required by Accounting Standard - 17 "Segment Reporting" is not applicable.

2. The Company believes that no impairment of assets arises during the year as per the recommendations of Accounting Standard - 28 Impairment of Assets, issued by the Institute of Chartered Accountants of India.

3. Details of dues to Micro and Small Enterprises as defined under the MSMED Act, 2006 Based on the intimation received by the Company, none of the suppliers have confirmed to be registered under "The Micro, Small and Medium Enterprises Development ('MSMED') Act, 2006". Accordingly, no disclosures relating to amounts unpaid as at the year end together with interest paid /payable are required to be furnished.

4. While determining diminution, other than temporary, in the value of the long term quoted / unquoted investments, the strategic objective of such investments and the asset base of the investee companies have been considered. In view thereof, the decline in the market value of such investments is considered to be of a temporary nature.

5. In the opinion of the Board, the Current Assets, Loans & Advances are realizable in the ordinary course of business at least equal to the amount at which they are stated in the Balance Sheet. The provision for all known liabilities is adequate and not in excess of the amount reasonably necessary.

6. Previous year figures

Till the period ended 31st March 2011, the company was using pre-revised Schedule VI to the Companies Act, 1956, for preparation and presentation of its financial statements. During the year ended 31 March, 2012 the revised Schedule VI notified under the Companies Act, 1956, has become applicable to the company. The company has reclassified previous year's figures to confirm to this year's classification. The adoption of revised Schedule VI does not impact recognition and measurement principles followed for preparation of financial statements. However, it significantly impacts presentation and disclosures made in the financial statements, particularly presentation of balance sheet.

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Mar 31, 2011

1) In the opinion of the Board of Directors the current Assets, Loans and Advances have a value on realisation in the ordinary course of business, at least equal to the amount at which they are stated in the foregoing Balance Sheet and adequate provision for all known liabilities of the company have been made.

2) There ore no Micro Small and Medium Enterprises, as defined in the Micro, Small and Medium Enterprises Development Act 2006, to whom the Company owes dues on account of principal amount together with interest and accordingly no additional disclosures have been made.

3) The above information regarding Micro, Small and Medium Enterprises is on the basis of information available with the Company and this has been relied upon by the auditors.

4) Provision for gratuity is not made as there is no employee in the Company.

5) The Company has a single segment namely "Shares and Securities" and the Company's business does not fall under different business segments as defined by AS- 17- "Segmental Reporting" issued by ICAI.

6) Related Parties Disclosures (AS-18)

7) Accounting for taxes on income { AS - 22 )

8) a) Previous year figures have been regrouped and rearranged wherever necessary to make them comparable with current year's figures.

b) Figures have been rounded off to nearest rupee.

NOTES:

1) Cash & Cash Equivalents comprises of: Cash in Hand Current Accounts with Banks

2) The above cash flow statement has been prepared by using the indirect method as per Accounting Standard 3 - Cash Flow Statement issued by the Institute of Chartered Accountants of India.

3) Previous year's figures have been regrouped/recasted, wherever necessary to confirm to the current year's classification.

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Mar 31, 2010

1) In the opinion of the Board of Directors the current Assets, Loans and Advances have a value on realisation in the ordinary course of business, at least equal to the amount at which they are stated in the foregoing Balance Sheet and adequate provision for all known liabilities of the company have been made.

2) There are no Micro Small and Medium Enterprises, as defined in the Micro, Small and Medium Enterprises Development Act 2006, to whom the Company owes dues on account of principal amount together with interest and accordingly no additional disclosures have been made.

3) The above information regarding Micro. Small and Medium Enterprises is on the basis of information available with the Company and this has been relied upon by the auditors.

4) Provision for gratuity Is not made as there is no employee in the Company.

5) The Company has a single segment namely "Shares and Securities" and the Companys business does not fall under different business segments as defined by AS- 17- "Segmental Reporting" issued by ICAI.

6)a) Previous year figures have been regrouped and rearranged wherever necessary to make them comparable with current years figures.

b) Figures have been rounded off to nearest rupee.