Notes to Accounts of Rama Vision Ltd.

Mar 31, 2015

1. Other Plans

The two other plans of the company for gratuity and leave encashment are unfunded. Any amount paid and provided for gratuity and leave encashment are adjusted to profit & loss account. Liability is ascertained at the end of each financial year and the increase/decrease in the amount of the liability is adjusted in profit & loss account. Liability of gratuity payable to an employee is equal to 15 days salary based on the last drawn salary for every completed year of service or part thereof in excess of six months. Salary for a day is calculated by dividing the salary last drawn by 26 (being the number of working days in a month). During the year Rs. 119366 (previous year Rs. 38943) was paid as gratuity to the employees and Rs. 885746 (previous year Rs. 662477) has been adjusted to the profit & loss account on account of variation in liability for gratuity at year end. Liability of leave encashment payable to an employee is equal to salary for earned leaves to the credit of the employee based on the last drawn salary. Salary for a day is calculated by dividing the salary last drawn by 26 (being the number of working days in a month). During the year Rs. 315984 (previous year Rs. 123233) was paid as leave encashment to the employees and Rs. 674301 (previous year Rs. 446919) has been adjusted to the profit & loss account on account of variation in liability for leave encashment at year end.

2. Related Party Disclosure:

A. Names of related parties and description of relationship

Key management personnel

Shri Satish Jain Mg. Director Shri Arhant Jain Director (Mkt) Shri Udit Jain Executive (Business Development)

3. Disclosure in respect of loans/advances & investments in its own shares by the company its subsidiaries /associates etc. (as required under clause 32 of listing agreement) is not being made as the company had not granted any loan or advances in the nature of loan.

4. Effective 1st April 2014, the company has revised the estimated useful life of fixed assets, wherever appropriate, on the basis of useful life specified in Schedule II of the Companies Act, 2013. The carrying amount as on 1st April, 2014 is depreciated over the revised remaining useful life. As a result of these changes, the depreciation charged forthe year ended 31st March, 2015 is higher by Rs. 6,11,363/-.

5. Figures for the previous year have been regrouped / rearranged wherever considered necessary.

6. Paisa has been rounded off to the nearest rupee.

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Mar 31, 2014

1. CONTINGENT LIABILITIES AND COMMITMENTS

(to the extent not provided for)

Particulars Amount (Rs.) As at As at 31.03.2014 31.03.2013

Contingent Liabilities

Outstanding Bank Guarantee 278,050 278,050

Income Tax, Excise duty & Service Tax demand under appeal 3,226,945 10,320,115

Claims against the company not acknowledged as debts 5,130,401 4,828,011

2. In the year 2003-2004, the company increased its installed capacity to manufacture black & white picture tubes from 20,00,000 pcs. p.a to 30,00,000 pcs. p.a by way of expansion resulting in more than 25% increase in installed capacity. In terms of notification no 50/2003-CE dated 10.06.2003 issued by Central Board of Excise & Customs, the company has neither charged nor paid to the government excise dutyon goods cleared from its factory located in Uttrakhand State on or after 27.09.03. However, the Central Excise Department has not accepted the contention of the company and raised demand amounting to Rs. 23460912 (previous year Rs.23460912) for the period from 27.09.2003 to 31.03.2005 which is being disputed in appeals. The Tribunal has granted stay from deposit of demand on merits.

3. In the opinion of the board the assets other than fixed assets have a value on realization in the ordinary course of business at least equal to the amount at which they are stated.

EMPLOYEE POST RETIREMENT BENEFITS

The various benefits provided to employees has been classified as under:

a) State Plans

Contributions made by the company to the various state plans which have been recognized as an expense in the profit & loss account are:-

b) Other Plans

The two other plans of the company for gratuity and leave encashment are unfunded. Any amount paid and provided for gratuity and leave encashment are adjusted to profit & loss account. Liability is ascertained at the end of each financial year and the increase/decrease in the amount of the liability is adjusted in profit & loss account. Liability of gratuity payable to an employee is equal to 15 days salary based on the last drawn salary for every completed year of service or part thereof in excess of six months. Salary for a day is calculated by dividing the salary last drawn by 26 (being the number of working days in a month). During the year Rs. 38943 (previous year Rs. 44769) was paid as gratuity to the employees and Rs. 662477 (previous year Rs. 552781) has been adjusted to the profit & loss account on account of variation in liability for gratuity at year end. Liability of leave encashment payable to an employee is equal to salary for earned leaves to the credit of the employee based on the last drawn salary . Salary for a day is calculated by dividing the salary last drawn by 26 (being the number of working days in a month). During the year Rs. 123233 (previous year Rs.93672) was paid as leave encashment to the employees and Rs. 446919 (previous year Rs. 412149) has been adjusted to the profit & loss account on account of variation in liability for leave encashment at year end.

4 Related Party Disclosure:

A. Names of related parties and description of relationship

Key management personnel

Shri Satish Jain Mg. Director

Shri Arhant Jain Director (Mkt)

Shri Udit Jain Executive (Business Development)

5 Figures for the previous year have been regrouped / rearranged wherever considered necessary.

6 Paisa has been rounded off to the nearest rupee.

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Mar 31, 2013

1. In the year 2003-2004, the company increased its installed capacity to manufacture black & white picture tubes from 20,00,000 pcs. p.a. to 30,00,000 pcs. p.a by way of expansion resulting in more than 25% increase in installed capacity. In terms of notification no 50/2003-CE dated 10.06.2003 issued by Central Board of Excise & Customs, the company has neither charged nor paid to the government excise duty on goods cleared from its factory located in Uttrakhand State on or after 27.09.03. However, the Central Excise Department has not accepted the contention of the company and raised demand amounting toRs.23,460,912 (previous yearRs.23,460,912) for the period from 27.09.2003 to 31.03.2005 which is being disputed in appeals. The Tribunal has granted stay from deposit of demand on merits.

2. In the opinion of the board the assets other than fixed assets have a value on realization in the ordinary course of business at least equal to the amount at which they are stated.

3. Related Party Disclosure:

A. Names of related parties and description of relationship

Key management personnel

Shri Satish Jain, Mg. Director

Shri Arhant Jain, Director (Mkt)

Shri Udit Jain Executive (Business Development)

4. Disclosure in respect of loans/advances & investments in its own shares by the company its subsidiaries /associates etc. (as required under clause 32 of listing agreement) is not being made as the company had not granted any loan or advances in the nature of loan.

5. Figures for the previous year have been regrouped / rearranged wherever considered necessary.

6. Paisa has been rounded off to the nearest rupee.

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Mar 31, 2011

As at 31.03.2011 As at 31.03.2010

Rs. Rs.

1 Contingent liabilities not provided for in respect of

(a) Outstanding Bank Guarantees 278,050 278,050

(b) Sales Tax/Excise Duty/

Service Tax demands under appeal/ 1,840,497 1,755,115

Interest on Income Tax under rectification

(c) Claims against the company not acknowledged as debts 3,618,451 3,618,451

2 There is no outstanding payment at the year end (either principal or interest for delay in payment) to Micro, Small and Medium Enterprises registered under Micro, Small and Medium Enterprises Development Act, 2006. No interest is paid/payable to Micro, Small and Medium Enterprises as there is no delay in payments. The above statement is in respect of the parties which could be identified as Micro,Small and Medium Enterprises under Micro, Small and Medium Enterprises Development Act, 2006 on the basis of information available with the Company.

3 (a) The outstanding balances of secured loans, unsecured loans, sundry creditors, current liabilities, sundry debtors, loans and advances are subject to confirmation and reconciliation. Difference if any, shall be accounted for on such reconciliation.

(b) In the opinion of the management, subject to note no. 6 (a) the current assets, loans and advances are expected to realise at least the amount at which they are stated, if realised in the ordinary course of business and provision for known liabilities have been adequately made in the accounts.

4. In the year 2003-2004, the company increased its installed capacity to manufacture black & white picture tubes from 20,00,000 pcs. p.a to 30,00,000 pcs.p.a by way of expansion resulting in more than 25% increase in installed capacity. In terms of notification no 50/2003-CE dated 10.06.2003 issued by Central Board of Excise & Customs, the company has neither charged nor paid to the government excise duty on goods cleared from its factory located in Uttrakhand State on or after 27.09.03. However, the Central Excise Department has not accepted the contention of the company and raised demand amounting to Rs. 23460912 (previous year Rs.23460912) for the period from 27.09.2003 to 31.03.2005 which is being disputed in appeals. The Tribunal has granted stay from deposit of demand on merits.

5. Disclosure in respect of loans/advances & investments in its own shares by the company its subsidiaries /associates etc. (as required under clause 32 of listing agreement) is not being made as the company had not granted any loan or advances in the nature of loan.

6. As required under Accounting Standard (AS) 22 “Accounting for Taxes on Income” issued by the Institute of Chartered Accountants of India, the Company is required to account for deferred taxation while preparing its accounts. The details of deferred tax asset/ (liability) are as under:

b Other Plans

The two other plans of the company for gratuity and leave encashment are unfunded. Any amount paid and provided for gratuity and leave encashment are charged to profit & loss account. Liability is ascertained at the end of each financial year and the increase/decrease in the amount of the liability is adjusted in the profit & loss account.Liability of gratuity payable to an employee is equal to 15 days salary based on the last drawn salary for every completed year of service or part thereof in excess of six months. Salary for a day is caculated by dividing the salary last drawn by 26 (being the number of working days in a month). During the year Rs. 152308 (previous year Rs.91480) was paid as gratuity to the employees and Rs. 499410 (previous year Rs. 753002) has been adjusted to the profit and loss account on account of increase in liability for gratuity for the year. Liability of leave encashment payable to an employee is equal to salary for earned leaves to the credit of the employee based on the salary last drawn. Salary for a day is caculated by dividing the salary last drawn by 26 (being the number of working days in a month). During the year Rs. 209131 (previous year Rs.73869) was paid as leave encashment to the employees and Rs. 251525 (previous year Rs.496931) has been adjusted to the profit and loss account on account of increase in liability for leave encashment for the year.

7 Additional information pursuant to the provisions of paragraphs 3,4B,4C and 4D of part II and of Part IV of Schedule VI of the Companies Act, 1956.

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Mar 31, 2010

As at 31.03.2010 As at 31.03.2009 Rs. Rs

1 Eastimated amount of contracts remaining to be executed on capital account and not provided for (net of advances) - 2,500.000

2 Contingent liabilities not provided for in respect of

(a) Outstanding Bank Guarantees 278,050 278,050

(b) Sales Tax/Excise Duty/ Service Tax demands under appeal 1,755,115 2,263,284

(c) Claims against the company not acknowledged as debts 3,618,451 3,618,451

3 There is no outstanding payment at the year end (either principal or interest for delay in payment) to Micro, Small and Medium Enterprises registered under Micro.Small and Medium Enterprises Development Act, 2006.

No interest is paid/payable to Micro, Small and Medium Enterprises as there is no delay in payments The above statement is in respect of the parties which could be identified as Micro.Small and Medium Enterprises under Micro, Small and Medium Enterprises Development Act, 2006 onthe basis of information available with the Company.

4 Previous year figures have been regrouped and/or rearranged wherever considered neccessary

5 Loan includes repayable within one year (including overdue):-

6 (a) The outstanding balances of secured loans, unsecured loans, sundry creditors, current liabilities, sundry debtors, loans and advances are subject to confirmation and reconciliation Difference if any, shall be accounted for on such reconciliation

(b) In the opinion of the management, subject to note no. 7 (a) the current assets, loans and advances are expected to realise at least the amount at which they are stated, if realised in the ordinary course of business and provision for known liabilities have been adequately made in the accounts

7 In the year 2003-2004, the company increased its installed capacity to manufacture black & white picture tubes from 20,00,000 pes. p.a to 30,00,000 pes pa by way of expansion resulting in more than 25% increase in installed capacity,

in terms of notification no 50/2003-CE dated 10.06 2003 issued by Central Board of Excise & Customs, the company has neither charged nor paid to the government excise duty on goods cleared from its factory located in Uttrakhand State on or after 27.09.03 However, the Central Excise Department has not accepted the contention of the company and raised demand amounting to Rs. 23460912 (previous year Rs.23460912) for the penodjrom 27.09.2003 to 31.03.2005 which is being disputed in appeals The Tribunal has granted stay from deposit of demand on merits

8 Loss on sale of raw material represents raw material valued at Rs Nil (previous year Rs 83041) sold for Rs Nil (previous year Rs. 10000).

9 Loss on sale of stores & spares represents stores & spares valued at Rs Nil (previous year Rs 1207756) sold for Rs. Nil (previous year Rs. 167778)

10 Current liabilities include amount to be credited to "Investor Education and Protection Fund" as on 31 03.2010 Rs. Nil (previous Year Rs. Nil)

11 Related Party Disclosures

(a) Key management personnel Shri Satish Jain - Managing Director

Shri Arhant Jain - Director (Marketing) since 25 05 2009

Son of Shri Satish Jain Managing Director

Shri Arhant Jain - Manager (Marketing) up to 24.05.2009

Son of Shri Satish Jam Managing Director

(b) Associate Concerns RVL Finance & Investment Pvt. Ltd

AUS Finance & Investment Pvt Ltd.

12 Disclosure in respect of loans/advances & investments in its own shares by the company its subsidiaries /associates etc.

-(as required under clause 32 of listing agreement) is not being made as the company had not granted any loan or advances in the nature of loan.

13 Paisa have been rounded off to the nearest rupee.

14 Schedules A toS annexed to and forming part of the statement.of accounts have been duly authenticated As per our report of even date annexed