Notes to Accounts of Rahul Merchandising Ltd.

Mar 31, 2014

1). Some of the debtors, current liabilities and advances are subject to confirmation/reconciliation.

2). There are no dues to micro, small and medium enterprises.

3). In the opinion of the Board, all the current assets, loans and advances have a value on realization in the ordinary course of business at least equal to the amounts at which those are stated in the Balance Sheet.

4). Exchange fluctuations against export debtors are not accounted as the company has filed claims with ECGC for recovery of debtors and the payment against the export debtors will be recovered in India.

5). Previous year figures have been re-grouped and rearranged wherever necessary to make them comparable with those of the current year.

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Mar 31, 2013

I) Some of the debtors, current liabilities and advances are subject to confirmation/reconciliation.

ii) There are no dues to micro, small and medium enterprises.

iii) In the opinion of the Board, all the current assets, loans and advances have a value on realization in the ordinary course of business at least equal to the amounts at which those are stated in the Balance Sheet.

iv) Exchange fluctuations against export debtors are not accounted as the company has filed claims with ECGC for recovery of such debtors and the payment against the export debtors will be recovered in India.

v) CONTINGENT LIABILITIES

a) Income Tax and interest thereon for which the company 0.00 50.30 has preferred appeals.

b) Income tax and interest thereon for which the income tax 0.00 5.40 department has preferred appeals.

c) Export obligation in respect of custom duty exemption

Availed under Advance Licensee Scheme 0.00 7.12

Note: figures in brackets above are in respect of previous year.

vi) Previous year figures have been re-grouped and rearranged wherever necessary to make them comparable with those of the current year.

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Mar 31, 2012

As on 31.03.12 As on 31.03.11 (Rs. Lakhs) (Rs. Lakhs)

i). CONTINGENT LIABILITIES

a) Income Tax and interest thereon for which the company has preferred appeals. 50.30 50.30

b) Income tax and interest thereon for which the income tax department has preferred appeals. 5.40 5.40

Export obligation in respect of custom duty exemption Availed under Advance Licence Scheme 7.12 22.00

ii). Deferred Tax asset is not recognized on the basis of prudence.

iv). Some of the debtors, current liabilities and advances are subject to confirmation/reconciliation.

v) There are no dues to micro, small and medium enterprises.

vi). In the opinion of the Board, all the current assets, loans and advances have a value on realization in the ordinary course of business at least equal to the amounts at which those are stated in the Balance Sheet.

Exchange fluctuations against export debtors are not accounted as the company has filed claims with ECGC for recovery of such debtors and the payment against the export debtors will be recovered in India.