Notes to Accounts of Shailja Commercial Trade Frenzy Ltd.

Mar 31, 2015

1. Related party transactions

Details of related parties:

Description of relationship Names of related parties

Key Management Personnel (KMP) VIJAY KUMAR SHARMA - Managing Director

CHETAN SHARMA - Chief Financial Officer SWETA AGARWAL - Company Secretary

Relatives of KMP Nil

Company in which KMP / Relatives of KMP can exercise significant influence

DEBDARU DEALMARK PRIVATE LIMITED

DEECSHIKHA VANIJYA PRIVATE LIMITED

HORA COMMOTRADE PRIVATE LIMITED

KSHMAYA DEALTRADE PRIVATE LIMITED

2. Corporate Overview

SHAILJA COMMERCIAL TRADE FRENZY LIMITED, (Formerly Known as Stanley Schappell Trade & Finance Limited) incorporated on 08/05/ 1981, having its registered office at 21, PARSEE CHURCH STREET, CABIN NO. 7, KOLKATA - 700001. The Directors of the company are YASH SARAOGI, SONAM SHARMA, VIJAY KUMAR SHARMA and CHETAN SHARMA.

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Mar 31, 2012

(i) Previous year's figures have been regrouped/ re-arranged wherever necessary.

(ii) The Company is listed an Calcutta Stock Exchange.

(iii) There is no Contingent Liability for the year under review.

(iv) There is no employee eligible for the benefit of gratuity: hence no such provision is made.

(v) In the opinion of the Board and to the best of their knowledge and belief, the value of realization of current assets in the ordinary course of business will not be less than the amount at which they are stated in the Balance Sheet

(iv) As per information and explanation provided by the Management there are no outstanding dues of SSI undertakings as required by Schedule VI of the Companies Act. 1956.

(v) The Company has no amount to be paid to Micro. Small and Medium Enterprises in accordance with provisions of Micro, Small & Medium Enterprises Development Act. 2006.

(vi) In terms of Accounting Standard 20. the calculation of EPS is given below;-

Profit/ (loss) after Taxation: - (Rs 160.00)

(a) Weighted Average number of Equity Shares outstanding during the year: - 2.49,000 shares.

(b) Normal value of shares:- Rs 10/ share

(c) Basic and Diluted EPS:-Rs. 0.00

(vii) In accordance with the Accounting Standard AS-22 "Accounting for Taxes on Income" issued by the Institute of Chartered Accountants of India, Deferred Tax Asset is not created as a matter of prudence as there is no reasonably certainty of future profit,

(viii) All assets and liabilities have been classified as current or non-current as per company's normal operating cycle and other criteria set out in the revised Schedule VI to the Companies Act. 1956. Based on the nature of products and the time between the acquisition of assets for processing and their realization in cash and cash equivalents, the Company has ascertained its operating cycle as 12 months for the purpose of current & non-current classification of assets & liabilities.