Notes to Accounts of Speedage Commercials Ltd.

Mar 31, 2014

1) Deferred Taxation :

a. In the of any significant deferred tax assets and liabilities no provision lor deferred tax has been made as required by ditL Accounting Standard - 22 "Accounting for "Taxes on Income" issued by the Institute of Chartered Accountants oflndia.

b. Provision for Current Year Income Tax if any has been made in the accounts tor the financial year as per Income Tax Act 1 %1.

2) There are no employees during the year hence the company has not provided for ihe employees liability as required by AS-15 revised 2005 Employee Benefits":

3) Segment reporting in accordance with Accounting Standards 17 is not applicable to Company.

4) Contingent Liability. Nil.,

5) Related Party Disclosure:

As per Accounting Standard 18 issued by the Institute oT Chartered Accountants of India the Company''s related parties and transaction are disclosed below:

6) previous year figures are rearranged/ regrouped wherever''necessary.

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Mar 31, 2013

1) Deferred Taxation :

a. In the absence of any significant deferred tax assets and liabilities no provision for deferred tax has been made as required by the Accounting Standard - 22 "Accounting for Taxes on Income" issued by the Institute of Chartered Accountants of India.

b. Provision for Current Year Income lax if any has been made in the accounts for the financial year as per Income Tax Act 1961.

2) There arc no employees during the year hence the company has not provided for the employees liability as required by AS-15 revised 2005 "Employee Benefits".

3) Segment reporting in accordance with Accounting Standards 17 is not applicable to Company.

4)Contingent Liability: NIL.

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Mar 31, 2012

1) Deferred Taxation:

a. In the absence of any significant deferred tax assets and liabilities no provision for deferred tax has been made as required by the Accounting Standard - 22 "Accounting for Taxes on Income" issued by the Institute of Chartered Accountants of India.

b. Provision for Current Year Income Tax if any has been made in the accounts for the financial year as per Income Tax Act 1961.

2) There are no employees during the year hence the company has not provided for the employees liability as required by AS-15 revised 2005 "Employee Benefits".

3) Segment reporting in accordance with Accounting Standards 17 is not applicable to Company.

4) Previous year figures are rearranged/regrouped wherever necessary.

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Mar 31, 2011

1) Deferred Taxation :

a. In the absence of any significant deferred tax assets and liabilities no provision for deferred tax has been made as required by the Accounting Standard - 22 "Accounting for Taxes on Income" issued by the Institute of Chartered Accountants of India.

b. Provision for Current Year Income Tax if any has been made in the accounts for the financial year as per Income Tax Act 1961.

2) The Company has pledged own shares of Bhansali Engineering Polymers Limited as a collateral security in favour of the lender Bank for the parties listed in the Register maintained U/s 301 of the Companies Act.

3) The Earning Per Share is Rs.(0047)/-

4) There are no employees during the year hence the company has not provided for the employees liability as required by AS-15 revised 2005 "Employee Benefits".

5) Segment reporting in accordance with Accounting Standards 17 is not applicable to Company.

6) Additional information required under part II of the schedule VI of the Companies Act, 1956 are either NIL or NOT APPLICABLE to the Company.

7) Other information required under Part IV of the Schedule VI of the Companies Act, 1956 is enclosed as Annexure.

8) Previous year figures are rearranged/regrouped wherever necessary.

9) Signatures of Schedule 'A' to 'F'.

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Mar 31, 2010

1) Deferred Taxation:

a. In the absence of any significant deferred tax assets and liabilities no provision for deferred tax has been made as required by the Accounting Standard - 22 "Accounting for Taxes on Income" issued by the Institute of Chartered Accountants of India.

b. Provision for Current Year Income Tax has been made in the accounts for the financial year as per Income Tax Act 1961.

2) The Company has pledged own shares of Bhansali Engineering Polymers Limited as a collateral security in favour of the lender Bank for the parties listed in the Register maintained U/s 301 of the Companies Act.

3) The Earning Per Share is Rs. 0.001.

4) There are no employees during the year hence the company has not provided for the employees liability as required by AS-15 revised 2005 "Employee Benefits".

5) Segment reporting in accordance with Accounting Standards 17 is not applicable to Company.

6) Additional information required under part II of the schedule VI of the Companies Act, 1956 are either NIL or NOT APPLICABLE to the Company.

7) Other information required under Part IV of the Schedule VI of the Companies Act,1956 is enclosed as Annexure.

8) Previous year figures are rearranged/regrouped wherever necessary. 10) Signatures of Schedule A to F.