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Notes to Accounts of Sri Amarnath Finance Ltd.

Mar 31, 2015

1. The company has only one class of equity Shares having Par Value of Rs 10 per Share. All these Shares have Same right & preferences with respect to payment of dividend, repayment of Capital & Voting.

2. The reconciliation of the number of Shares outstanding is set out Below

3. Previous years figures have been reworked, regrouped, & reclassified wherever necessary to confirm to the current year presentation.

4.. In the opinion of Board of Director, the current Assets, loans & advances have a value on realization in the ordinary course of business at least equal to the amount at which these are stated.

5. During the year, the Company has sold Investments of Shalini Holdings Limited and Apoorva Leasing Finance & investment Co. Limited at Profit.

6. During the year, Company has purchased Commodities that is considered as stock in trade by the Management.

7. Statutory Reserve represents the Reserve Fund created u/s 45-IC of the Reserve Bank of India Act, 1934. An amount of Rs 727,511. (Previous Year Rs 2,071,813) representing 20% of Net Profit is transferred to the fund for the year.

8. Provision for Standard & Non Performing Assets:

Provision for non performing assets (NPAs) is made in the financial statements according to the Prudential Norms prescribed by RBI for NBFCs. The Company also makes additional provision towards loan assets, based on the management's best estimate. Additional provision of 0.25% on Standard assets has also been made during the year, as per stipulation of RBI on Standard assets. Company has made provisions for Standard Assets as well as Non-Performing Assets as per the table below:

9. The company's business activity falls within single primary/ secondary business segment viz. Finance Activity. The disclosure requirement of Accounting standard (AS) -17 "Segment Reporting "issued by the Institute of chartered Accountants of India, therefore is not applicable.

10. Related Party Disclosure:

As per Accounting Standard 18 on related Party disclosure issued by the Institute of chartered Accountants of India, the nature and volume of transaction of the company during the year with the related parties were as follows:

11. Earning per Share "AS-20" issued by the Institute of chartered Accountants of India:

12. Information as required by Non Banking Financial (Non Deposit Accepting or Holding) Companies Prudential Norms (Reserve Bank) Direction, 2007 is Furnished vide Annexure - 1 Attached Herewith.

13. The Company has the borrower companies are involved in the business of Real estate. List of the borrowers is given below:

14. There are no micro, Small and Medium Enterprises, to whom the Company owes dues which outstanding for more than 45 days as at 31st March 2015. This information as required to be disclosed under the micro, small and medium Development Act, 2006 has been determined to the extent such parties have been identified on the basis of information available with company.

15. The Company estimates the deferred tax created / (credit) using the applicable rate of Taxation based on the impact of timing Difference s between financial Statements and Estimated taxable income for the current Year.