Notes to Accounts of Positive Electronics Ltd.

Mar 31, 2015

1. Rights, preferences and restriction attaching to various classes of shares including restrictions on distribution on dividend and repayment of capital

The company has only one class of shares viz equity shares having a par value of Rs. 10/- per share. Each shareholder is eligible for one vote per share and is entitled to pro-rata dividend, if any, declared on equity shares. In the event of liquidation, the equity share holders are eligible to receive the remaining assets of the company after distribution of all preferential amounts in proportion to their share holding.

2. Shares reserved for issued

No Equity Shares have been reserved for issue under option and contracts/commitments for sale of shares/disinvestment as at Balance Sheet date.

3. In the opinion of the Board the current assets, loans and advances are not less than the stated value if realised in ordinary course of business. The provisions for all known liabilities are adequate. There are no contingent liabilities except stated, as informed by the management.

4. Contingent Liability - Nil (P. Y. - Nil)

5. There is no related party transact on by the group, with any related party.

6. The figures of previous year have been reclassified and regrouped wherever considered necessary.

---

Mar 31, 2014

1.01. The company has only one class of shares viz. equity shares having a par value of Rs.10f- per snare, tacn snare, is eligible for one vote per share and is entitled to pro-rata dividend, if any declared on equity shares. In the event of liquidation, the equity share holders are eligible to receive the remaining assets of the company after distribution of all prefertral amounts, in proportion to their share holdings

1.02. The company has issued and allotted 30,00.000 equity shares at the face value of Rs.10/- each vide the Special ressolution passed in the Extra Ordinary General meeting held on 17th Day of January''2014 to the promoter and to a group of strategic investors, not forming part of the promoter group of the company upon preferential allotment basis, rank pari passu with the existin'' equity shares of the Company in all respect. Consequent to such allotment, the percentage of holding of the promoters'' and their in the equity shares of the company is 20 against the earlier holding of 65.51 4.1 Sundry Creditors do not include any dues to micro, small and medium enterprises on account of principal amount together with interest and accordingly no additional disclosures have been made.The above information regarding micro, small and medium enterprises has been determined to the extent such parties have been indented on the basis of information available with the Company .

2.1 In the absence of Audited accounts, the Net Assets Value (NAV) / Book Value (BV) of Investments other than the Investment in wholly owned subidiary companies as at 31st March,2014 are not available, hence the diminution if any in value thereof are uncertain and not determined.The management is of the opinion that short fell if any in the value of such investments is temporay in nature.

2,2. During the year, the company has subscribed in 15 companies to hold 100% Equity Share Capital thereof amounting to Rs. 75 lacs. The Money payable by the company to all it''s subsidiaries under the Memorandum & Articles of Association has been shown under other current liabilitiesas subscriber amont due.

Contigent liabilities not provided for in the account has no identifiable segment reporting segment for the purpose of segment reporting.

Company has during the year not entered in to the transcation with the related parties, hence no disclosure has been made. [Earning and Expenditure in Foreign Currency of the sundry creditors, sundry debtors and some of the loans advances given are subject to confirmation.

Subsequent to the Balance sheet date, the company has made an application to Bombay Stooh Exchange for listing of it''s shares. Lecessary formalities and steps for listing are under process.

Note 3

Previous years figures have been regrouped,rearranged and recast wherever cosidered necessary.

---

Mar 31, 2013

1.01. The company has only one class of shares viz. equity shares having a par value of Rs.10/-per share. Each share holder is eligible for one vote per share and is entitled to pro-rata dividend, if any declared on equity shares. In the event of liquidation, the equity share holders are eligible to receive the remaining assets of the company after distributon of all preferential amounts, in proportion to their share holdings.

2.1 Sundry Creditors do not include any dues to micro, small and medium enterprises on account of principal amount together with interest and accordingly no additional disclosures have been made.The above information regarding micro, small and medium enterprises has been determined to the extent such parties have been indentified on the basis of information available with the Company .

3.1 Since the Net Assets Value(NAV) of Investments as at 31st March,2013 is not available, the management is of the opinion tha'' short fall if any in the value of such investments is temporay in nature.Therefore, no Provision for diminution is made.

Note 4

Contigent liabilities not provided for in the account Nil Nil

Note 5

The company has no identifiable segment reporting segment for the purpose of segment reporting.

Note 6

The company has during the year not entered in to the transcation with the related parties, hence no disclosure has been made.

Note 7

The company has no employee during the year, therefore no benefits (both short & long term) for the employees are provided for.

Note 8

Earning and Expenditure in Foreign Currency Nil Nil

Note 9

Balance of the sundry creditors, sundry debtors and some of the loans & advances given are subject to confirmation.

Note 10

Previous years figures have been regrouped,rearranged and recast wherever cosidered necessary.

---

Mar 31, 2012

NOTE: 1. Figures in brackets indicates outflow.

2. Previous year''s Figures have been regrouped/rearranged wherever necessary.

Note 2

Contigent liabilities not provided for in the account Nil Nil

Note 3

The company has no identifiable segment reporting segment for the purpose of segment reporting.

Note 4

As the company does not have information as to which of its creditors are registered under The Micro, Small And Medium Enterprises Development Act, 2006, no disclosures of outstanding dues of micro enterprises and other related disclosures have been made.

Note 5

Payment towards damages demand of Provident Fund represents arrear demand for the years 2003 to 2009 as assessed by Provident Fund Commissioner,

Note 6

The company has during the year not entered in to the transcation with the related parties, hence no discloser has been made.

Note 7

Tiil the year ended March 31, 2011, the company was using pre-revlsed Schedule VI to the Companies Act 1956, for the preparation and presentation of its financial statements. During the year ended March 31, 2012. the revised Schedule V! notified under the Companies Act, 1956, has become applicable to the company. The Company has reclassified previous previous year figures to confirm to this year''s classification.

---

Mar 31, 2011

Not Available.