Notes to Accounts of Genesis IBRC India Ltd.

Mar 31, 2015

1. Terms/Rights attached to Equity Shares

The Company has only one class of equity shares having a par value of Rs.10/- per share. Voting right is upon show of hands, every member is entitled to one vote only irrespective of number of shares such member is holding and upon a poll, each holder of equity shares is entitled to one vote per share. In event of liquidation of the company, the holders of equity shares will be entitled to receive remaining assets of the company, after distribution of all the preferential amounts. The distribution will be in proportion to the number of equity shares held by the share holders.

B. Other Notes to Accounts and Disclosures :-

2. Related Party Disclosures (AS-18) :

A. Related Parties and their Relationship :

(i) Key Managerial Personnel (Directors) :

* P Mastan Rao, Non-Executive Promoter Director

* K Ratnakara Rao, Whole-Time Director

B. Particulars of Transactions with Related Parties: Nil

3. Contingent Liabilities and commitments - (AS-29):

a. Contingent Liabilities:

i. Guarantees and letters of credit: Nil

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Mar 31, 2014

The previous year figures have been re-grouped/re-classified, wherever necessary to confirm to the current year presentation

1.1 Terms/Rights attached to Equity Shares

The Company has only one class of equity shares having a par value of Rs.10/- per share. Voting right is upon show of hands, every member is entitled to one vote only irrespective of number of shares such member is holding and upon a poll, each holder of equity shares is entitled to one vote per share. In event of liquidation of the company, the holders of equity shares will be entitled to receive remaining assets of the company, after distribution of all the preferential amounts. The distribution will be in proportion to the number of equity shares held by the share holders.

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Mar 31, 2012

1. Use of Estimates

The preparation of financial statements requires estimates and assumptions to be made that affect the reported amount of assets, liabilities, revenues and expenses. The estimates used in preparation and presentation of financial are prudent and reasonable. Actual results could differ from estimates. Any revision of accounting estimates is recognized prospectively in the current and future periods.

2. Impairment

The carrying amounts of assets are reviewed at each balance sheet date if there is any indication of impairment based on internal/external factors. As impairment loss will be recognized if the carrying amount of an asset exceeds its estimated recoverable amount. The recoverable amount is greater of asset''s net selling price and value in use. In assessing the value in use, the estimated future economic benefits are discounted to the present value of the weighted average cost of capital.

3.Related Party Disclosures

I) Key Management Personnel

a). K. Ratnakara Rao, Whole Time Director

b). P. Mastan Rao, Non-Executive Director

c). CHDVV Prasad, Chief Financial Officer

During the year under review there were no related party transactions.

4. Audited Remuneration Audit fee : Rs. 13236