Notes to Accounts of Rasi Electrodes Ltd.

Mar 31, 2015

1. The Company has only one class of shares namely equity shares comprising of nominal value of Rs 10 per equity shares. Each holder of equity shares is entitled to one vote per share. The shareholders have the right to receive interim dividends, if any, declared by the Board of Directors and final dividends proposed by the Board of Directors and approved by the shareholders. In the event of liquidation of the Company, the holders of equity shares will be entitled to receive any of the remaining assets of the Company after distribution of preferential amounts. The distribution will be in proportion to the number of equity shares held by the shareholders. The equity shareholders have all other rights as available to the equity shareholders as per the provisions of the Companies Act, 1956, read together with the Memorandum of Association and Articles of Association of the Company as applicable.

2. Out of 61,61,100 Equity shares issued subscribed and paid up, 13,60,000 Equity shares of Rs 10/- each have been issued and allotted as fully paid bonus shares on 29th December 2007 by capitalisation of General Reserves.

3. Short term borrowings from Banks represents working capital borrowings by way of cash credit repayable on demand. They are secured by hypothecation of raw-materials, work in progress, finished goods, book debts and a part of plant and machineries, and additionally secured by equitable mortgage by deposit of title deeds of land and personal guarantees of promoter directors.

4. The Company has not accepted any deposits from public. The deposits represents unsecured security deposits from dealers which will be retained with the Company till such time the dealership arrangement continues.

5. The Company has not borrowed any funds from related parties.

6.Related Party Transactions during the year ended 3f'March 2015: 1. Relationships

a. Key Management Personnel

Mr B. Popatlal Kothari - Managing Director

Mr P Kashyap Kothari - Factory Manager

b. Relatives of Key Managerial Personnel:

Mr P Nitya Kothari

7. The Company operates in a single segment and as such disclosures under segmental reporting is not applicable.

8.The Depreciation on tangible assets have been re-computed based on useful life of assets, under straight line method as prescribed under Schedule II to the Companies Act, 2013. The re-computation has resulted in the excess depreciation amounting to Rs 669810 being written off against the assets as on 1 st April 2014 which has been adjusted against the retaining earnings in the reserves as at the beginning of the year.

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Mar 31, 2014

1.1. CONTINGENT LIABILITIES

A disclosure for contingent liability is made when there is possible obligation or a present obligation that may, but probably will not, require an outflow of resources. When there is a possible obligation or present obligation that the likelihood of outflow of resources is remote, no provision or disclosure is made.

1.2. Related Party Transactions 1. Relationships

a. Key Management Personnel

Mr B. Popatlal Kothari - Managing Director Mr P Kashyap Kothari - Factory Manager

b. Relatives of Key Managerial Personnel:

Mr P Nitya Kothari

1.3. The Company operates in a single segment and as such disclosures under segmental reporting is not applicable.

1.4. The figures have been rounded off to the nearest rupee.

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Mar 31, 2013

1.1. Related Party Transactions 1. Relationships

a. Key Management Personnel

Mr B. Popatlal Kothari - Managing Director Mr P Kashyap Kothari - Factory Manager

b. Relatives of Key Managerial Personnel: Mr P Nitya Kothari

1.2. The Company operates in a single segment and as such disclosures under segmental reporting is not applicable.

1.3. The figures have been rounded off to the nearest rupee.

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Mar 31, 2012

1.01 The Company has only one class of shares namely equity shares comprising of nominal value of Rs 10 per equity shares. Each holder of equity shares is entitled to one vote per share. The shareholders have the right to receive interim dividends, if any, declared by the Board of Directors and final dividends proposed by the Board of Directors and approved by the shareholders. In the event of liquidation of the Company, the holders of equity shares will be entitled to receive any of the remaining assets of the Company after distribution of preferential amounts. The distribution will be in proportion to the number of equity shares held by the shareholders. The equity shareholders have all other rights as available to the equity shareholders as per the provisions of the Companies Act, 1956, read together with the Memorandum of Association and Articles of Association of the Company as applicable.

1.02 Out of 47,60,000 Equity shares issued subscribed and paid up, 13,60,000 Equity shares of Rs 10/- each have been issued and allotted as fully paid bonus shares on 29th December 2007 by capitalization of General Reserves.

2.01 Short term borrowings from Banks represents working capital borrowings by way of cash credit repayable on demand. They are secured by hypothecation of raw-materials, work in progress, finished goods, book debts and a part of plant and machineries, and additionally secured by equitable mortgage by deposit of title deeds of land and personal guarantees of promoter directors.

2.02 The Company has not accepted any deposits from public. The deposits represents unsecured security deposits from dealers which will be retained with the Company till such time the dealership arrangement continues.

1.03 The Company has not borrowed any funds from related parties.

3.01 Out of the total amount shown under sundry creditors, an amount of Rs 343435 is due to two small scale industrial unit which exceeds Rs 100,000 and which are due for more than 30 days. Names of the small scale industrial undertakings (as compiled by the Company based on the information available and relied upon by the Auditors) to whom the Company owe a sum which is outstanding for more than 30 days are as follows:

4.1..Related Party Transactions 1. Relationships

a. Key Management Personnel

Mr B. Popatlal Kothari - Managing Director

Mr P Kashyap Kothari - Factory Manager

b. Relatives of Key Managerial Personnel:

Mr P Nitya Kothari

Mrs Aanchal Kothari

4.2.. The Company operates in a single segment and as such disclosures under segmental reporting is not applicable.

4.3. The figures have been rounded off to the nearest rupee.

4.4. The Revised Schedule VI has become effective from 1st April 2011 for the preparation of financial statements. Previous year's figures have been regrouped/reclassified wherever necessary to correspond with the current year's classification/disclosure.

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Mar 31, 2010

1. Out of the total amount shown under sundry creditors, an amount of Rs 7,93,521 is due to two small scale industrial unit which exceeds rupees one lakh and which are due for more than 30 days. Names of the small scale industrial undertakings (as compiled by the Company based on the information available and relied upon by the Auditors) to whom the Company owe a sum which is outstanding for more than 30 days are as follows:

2. Related Party Transactions

1. Relationships

a. Key Management Personnel B. Popatlal Kothari - Managing Director P. Kashyap Kothari - Factory Manager

3. The Company operates in a single segment and as such disclosures under segmental reporting is not applicable.

4. As per the requirements of AS-22, the company has accounted the cumulative net deferred tax asset in respect of timing differences between book and tax profit as on 31st March 2010 amounting to Rs 22245 and deferred tax (accrual) for the cur/ent year amounting to Rs. 200271 in the Profit and Loss Account.

5. The figures have been rounded off to the nearest rupee.

6. The figures pertaining to the previous year have been to conform to current years classification.