Notes to Accounts of Oasis Nutraceuticals Ltd.

Mar 31, 2015

1. Details of Related parties transactions are as under :

2. CONTINGENT LIABILITIES NOT PROVIDED FOR :

a) The Liability for workman compensation ofRs, 45,174/- is disputed by the company and the the matter is lying in Lab our Court.

b) The liability for Loan amountRs, 27,33,157/- is not provided as the matter is pending with the custodian under special court Trial of offence relating to transactions in Security Act, 1992.

c) The liability for Interest amount Rs, 92,15,092/- is not provided as the matter is pending with the custodian under special court Trial of offence relating to transactions in Security Act, 1992.

3. IN THE OPINION OF THE DIRECTORS:

a) The Current Assets and Loans & Advances are approximately of the value stated, if realized in the ordinary course of business.

b) The provision for depreciation and for all known liabilities is adequate and not in excess of the amount reasonably necessary.

4. Effective from April 1,2014,the Company has charged depreciation based on the revised remaining useful life of the assets as per the requirement of Schedule II of the Companies Act 2013. The balance useful life of the Fixed Assets has been taken as difference between the total use full life prescribed under schedule II and assets already used. Due to above depreciation charge for the year ended March, 2015 is higher by 0.01 lacs.

5. Reporting under sub clause 32 of clause 49 of listing agreement issued by Securities and Exchange Board of India (SEBI), is not applicable to the company, as there is no loan given to subsidiary or Associates as defined under section 186 of the Companies Act, 2013 and no loans and advances are given which is outstanding for a period of more than seven years.

6. Reporting as per the requirement under Section 186 (4) of the Companies Act, 2013

7. All assets and liabilities have been classified as current or non-current as per the Company's normal operating cycle and other criteria set out in the Revised Schedule III to the Companies Act, 2013. Based on the nature of products and the time between the acquisition of assets for processing and their realization in cash and cash equivalents, the Company has ascertained its operating cycle as 12 months for the purpose of current - noncurrent classification of assets and liabilities.

8. The Company had incurred heavy expenditure on Filing fees to Registrar of Companies, Bombay Stock Exchange and Preferential Share Issue, Since the amount incurred was very high, the management has decided to write it off in a span of five years, the same practice was followed from old companies Act, 1956 and even in Revised Schedule VI of the Companies Act, 1956. The same practice is continued and followed in Schdule III of the Companies Act, 2013.If they would have been written off the loss would have been higher by Rs, 8,01,664/-.

9. The previous year's figures have been regrouped and rearranged wherever necessary to make in compliance with the current financial year.

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Mar 31, 2014

1 Details of Related parties transactions are as under :

a) List of related parties and relationship where control exists or with whom transactions were entered into :

Relationship Name of the Related Party

Associates S. Ramdas (Prop. Milan Dalal)

Key Management Personnel Mr. Nitin Eknath Velhal

Mr. Yogesh Gupta

2 CONTINGENT LIABILITIES NOT PROVIDED FOR :

a)The Liability for workman compensation of Rs. 45,174/- is disputed by the company and the the matter is lying in Labour Court.

3 IN THE OPINION OF THE DIRECTORS:

a)The Current Assets and Loans & Advances are approximately of the value stated, if realised in the ordinary course of business.

b)The provision for depreciation and for all known liabilities is adequate and not in excess of the amount reasonably necessary.

4 All assets and liabilities have been classified as current or non-current as per the Company''s normal operating cycle and other criteria set out in the Revised Schedule VI to the Companies Act, 1956 notified by MCA vide its notification no. 447(E) dated February 28, 2011. Based on the nature of products and the time between the acquisition of assets for processing and their realisation in cash and cash equivalents, the Company has ascertained its operating cycle as 12 months for the purpose of current – non current classification of assets and liabilities.

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Mar 31, 2013

1 CONTINGENT LIABILITIES NOT PROVIDED FOR :

a) The Liability for workman compensation of Rs.45''174/- is disputed by the company and the the matter is lying in Labour Court.

2 Details of Related parties transactions are as under :

a) List of related parties and relationship where control exists or with whom transactions were entered into :

Relationship Name of the Related Party

Associates 1 S. Ramdas (Prop. Milan Dalal)

Key Management Personnel

1 Mr. Asim Bhupendra Dalal

2 Mr. Nitin Eknath Velhal

3 Mr. Yogesh Gupta

b) Transactions during the year with related parties:

3 IN THE OPINION OF THE DIRECTORS:

a) The Current Assets and Loans & Advances are approximately of the value stated'' if realised in the ordinary course of business.

b) The provision for depreciation and for all known liabilities is adequate and not in excess of the amount reasonably necessary.

4 During the year under review the company has advanced to parties which are not related to the company and which is in excess of the limit laid down by the Act. The management is of the view tha t the the said advances are made in the normal course of business and the same will be taken up for approvals from the shareholders.

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Mar 31, 2010

1) RETIREMENT BENEFITS:

In absence of the employees, the company has no obligation to make provisions for economic/ termination

2) BORROWING COST:

Borrowing costs are recognised as an expenses in the period in which they are incurred.

3) BUSINESS SEGMENTS:

The company is exclusively engaged in the business of leasing and hire purchase. These in the context of Accounting Standard 17 on Segment Reporting,issued by the Institute of Chartered Accountants of India, are considered to constitute one single primary segment.

4) RELATED PARTY DISCLOSURES:

Disclosures as required by the Accounting Standard 18 "Related Party Disclosures" are given below:

I) List of Related Parties:

a) Holding company None

b) Subsidiary company None

c) Associate companies

1 Asim Holding Private Limited

2 Bombay Swadeshi Stores Limited

3 Grishma Construction & Trading Private Limited

4 Milan Holding Private Limited

5 Ornat Talcum Private Limited

6 Regent Publishers Private Limited

7 Satyen Holding Private Limited

8 Western Press Private Limited

9 Mrs. Aditi Dalai (Prop. Aditi Dalai)

10 Cifco Properties Private Limited]

11 S. Ramdas (Prop. Milan Dalai)

12 Cifco Travels Private Limited

13 CFL Securities Limited

14 Tropical Securities & Investments Private Limited

15 Oceanic Investments Limited

16 Milan Investments Limited TE

17 Apurva Investments Co. Ltd.

18 Chasam Investments & Leasing Pvt. Ltd.

19 The Amalgamated Electricity Co. Ltd.

20 Arcadia Investments Co. Ltd.

21 Shriya Capital Services Pvt. Ltd.

d) Key management personnel and relatives Key management personnel

Mr. Asim Bhupendra Dalai

Mr. Devanshu Pravin Desai

Mr. Nitin Eknath Velhal

5) TAXES ON INCOME:

Current tax is the amount of tax payable on the taxable income for the year as determined in accordance with the provisions of the Income-tax Act, 1961.

Deferred tax is recognised, on timing differences,being the difference between taxable income and accounting jncome that originate in one period and are capable of reversal in one or more subsequent Deferred tax assets in respect of unabsorbed depreciation and carry forward of losses are recognised if there is virtual certainty that there will be sufficient future taxable income available to realise such losses. The company has not recognised the net deferred tax in respect of accumulated losses in view of the uncertainity of availing the benefit in future.

6) CONTINGENT LIABILITIES:

The liability for workman compensation of Rs. 45,174/- is disputed by the company and the matter is lying in Labour Court

7) The Company has not received any intimation from the suppliers regarding their status under the Micro, Small and Medium Enterprises Development Act, 2006 and hence the disclosures relating to amount unpaid as at end of the year together with interest payable as required under the said act has not been furnished and provision for interest, if any, on delayed payment is not ascertainable at this stage. No interest payment is made during the year.

8) The company has delivered the shares of M/s. State Bank of India, IFCI Ltd., B.S.E.S. Ltd., Pashupati Fabrics Ltd. and Samta Sahakari Bank Ltd., to the Office Of Custodian, Special Court (Trial of offences relating to transactions in securities) Act, 1992. The company has however received dividend from State Bank of India.

9) BALANCE SHEET ABSTRACT AND COMPANYS GENERAL BUSINESS PROFILE

10) Comparative figures of the previous year have been regrouped / rearranged wherever considered necessary.