Notes to Accounts of Quasar India Ltd.

Mar 31, 2015

1. Basis of preparation of Financial Statement

The Financial Statements of the company have been prepared in accordance with generally accepted accounting principles in India (Indian GAAP). The company has prepared these Financial Statements to comply in all material respect with the accounting standards notified under the Companies (Accounting standards) Rule, 2006, (as amended) and the relevant provision of the companies Act, 2013.

The Financial Statements have been prepared on the accrual basis and under the historical cost convention.

2. There is no Micro, Small and Medium Enterprises as defined under Micro, Small & Medium Enterprises Development Act, 2006 to which Company owes dues which are outstanding for a period more than 45 days as on Balance Sheet Date.

The above information regarding Micro, Small and Medium Enterprises has been determined on the basis of information availed with the Company and has been duly relied by the auditors of the Company.

3. Provisions of Accounting Standard (AS) – 17 on 'Segment Reporting' are not been applicable to the Company.

4. In the opinion of the management, the current assets, loans and advances have a realizable value in the ordinary course of business is not less than the amount at which they are stated in the Balance Sheet.

5. Balance shown under head Sundry Debtors, Creditors and Advances are subject to confirmation.

6. Figures have been rounded off to the nearest rupees.

7. Figures in brackets indicate negative (-) figures.

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Mar 31, 2014

1. Basis of preparation

The financial statements of the company have been prepared in accordance with generally accepted accounting principles (Indian GAAP). The company has prepared these financial statements to comply In all material respects with the accounting standards notified under Companies (Accounting Standards) Rules, 2006 (as amended from time to time and the relevant provisions of the Companies Act, 1956.

The financial statements have been prepared on accrual basis and under the historical cost convention. The accounting policies not specifically referred, are consistently applied from the past accounting periods.

Terms and rights attached to equity shares

The company has issued only one class of equity shares having a par value of Rs. 10 per share. Each holder of Equity shares is entitled to vote per share. The company declares and pays dividend if any, in Indian Rupees. The dividend proposed by the Board of Directors is subject to approval of the shareholders in the ensuring Annual General Meeting.

In the event of liquidation of the company, the holders of equity shares will be entitled to receive remaining assets of the company, after distribution of all the preferential amount. The distribution will be in proportion to the number of equity shares held by the shareholder.

* There is no Micro, Small and Medium Enterprises as defined under Micro Small & Medium Enterprises Development Act, 2006 to which Company owes dues which are outstanding for a period more than 45 days as on Balance Sheet Date.

The above information regarding Micro, Small and Medium Enterprises has been determined on the basis of Information availed with the Company and has been duly relied by the auditors of the Company.

* Provisions of Accounting Standard (AS) - 17 issued by the ICAI on "Segment Reporting’ are not been applicable to the Company,

* In View of present uncertainty regarding generation of sufficient future income, net deferred tax asset or liability has not been recognized in these accounts on prudent basts.

* In the opinion of the management, the current assets, loans and advances have a reliable value In the ordinary course of business is not less than the amount at which they are stated in the Balance Sheet.

Related party disclosures/ transactions

There is no transaction entered with the related party covered by the Accounting Standard (AS) - 18 on ''Related Party Disclosure'' during the period covered by these financial statements,

* Balance shown under head Sundry Debtors, Creditors and Advances are subject to confirmation.

* The company has paid Rs. 3,48,050 to Registrar of Companies against increasing the authorised capital and the same treated as Deferred Revenue Expenditure and the company charged it over the period of 5 years.

* Quantitive Information in respect of Opening Stock, Purchases, Sates and closing Stock pursuant to Schedule VI of the Companies Act, 1956 are as per list attached.

Particulars Current Period Previous Year (Rs.) (Rs.) Contingent Liability not provided for Nil Nil 2. Previous Year''s Figures have been re-arranged or re-grouped wherever considered necessary.

3. Figures have been rounded off to the nearest rupees.

4. Figures in brackets indicate negative (-) figures.

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Mar 31, 2013

1. Basis of preparation

The financial statements of the company have been prepared in accordance with generally accepted accounting principles (Indian GAAP). The company has prepared these financial statements to comply in all material respects with the accounting standards notified under Companies (Accounting Standards) Rules, 2006 (as amended from time to time) and the relevant provisions of the Companies Act, 1956.

The financial statements have been prepared on accrual basis and under the historical cost convention. The accounting poficies not specifically referred, are consistently applied from the past accounting periods.

2. There is no Micro, Small and Medium Enterprises as defined under Micro, Small & Medium Enterprises Devetopment Act, 2006 to which Company owes dues which are outstanding for a period more than 45 days as on Balance Sheet Date.

The above information regarding Micro, Small and Medium Enterprises has been determined on the basis of information availed with the Company and has been duly relied by the auditors of the Company.

3. Provisions of Accounting Standard (AS) - 17 issued by the ICAI on ''Segment Reporting'' are not been applicable to the Company.

4. In view of present uncertainty regarding generation of sufficient future income, net deferred tax asset or liability has not been recognized in these accounts on prudent basis.

5. In the opinion of the management, the current assets, toans and advances have a relaisable value in the ordinary course of business is not less than the amount at which they are stated in the Balance Sheet.

6. Related party disctosures/ transactions

There is no transaction entered with the related party covered by the Accounting Standard (AS) - 18 on ''Related Party Disctosure'' during the period covered by these financial statements.

7. Balance shown under head Sundry Debtors, Creditors and Advances are subject to confirmation.

8. Previous Year''s Figures have been re- arranged or re- grouped wherever considered necessary.

9. Figures have been rounded off to the nearest rupees.

10. Figures in brackets indicate negative (-) figures.

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Mar 31, 2012

Not Available.

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Mar 31, 2011

Not Available.