Notes to Accounts of Tradewell Holdings Ltd.

Mar 31, 2025

In 1995, the Company entered into an agreement to purchase land from a seller for a total consideration of Rs 7.79 lakhs, of which Rs 3.69 lakhs was paid, with the balance of ?4.10 lakhs payable upon execution of the transfer deed. The transfer has been stayed by the New Okhla Industrial Development Authority (NOIDA) due to non-payment of conversion charges in full for industrial or commercial use of the land. The Company, along with the seller, filed a suit challenging the arbitrary cancellation of the conversion order and the levy of incremental charges by NOIDA. The suit was dismissed by the lower courts, and the matter is currently under appeal before the Hon’ble Allahabad High Court.

a) Transfer from owner occupied property to investment property

During the year, the Company transferred a Building from Property, Plant and Equipment (PPE) to Investment Property in accordance with Ind AS 40 - Investment Property at its carrying value, due to a change in use evidenced by commencement of leasing to third parties. The Company continues to use the cost model for subsequent measurement of investment property.

b) Fair Value of Investment Properties

The fair value of the Company''s investment properties at the end of the year have been determined on the basis of valuation carried out by the management based on Level -3 inputs. Total fair value of Investment Properties is Rs. 80.96 lakhs (March 31,2024 Rs. 73.33 lakhs).

c) During the year, the Company carried out a review of the recoverable amount of investment properties. As a result, there were no allowances for impairment required for these properties.

During the year, the Company recognized a provision for expected credit losses of Rs. 31.60 lakhs against an amount receivable from a customer, in accordance with Ind AS 109 (Financial Instruments). The provision was made based on an assessment of low recoverability, considering the customer’s financial condition, available information, and forward-looking factors. In 2023, the Company filed an application before the National Company Law Tribunal (NCLT) to initiate insolvency proceedings under the Insolvency and Bankruptcy Code, 2016. The application was dismissed by the NCLT, and the matter is currently pending before the National Company Law Appellate Tribunal (NCL AT).

Due to the uncertainty surrounding the outcome of the legal proceedings, the probability of recovering the outstanding amount has been assessed as low.

(c) Reconciliation of Income Tax Expenses and the Accounting Profit multiplied by India''s applicable tax rate

This note presents the reconciliation of Income Tax charged as per the applicable tax rate specified in the Income Tax Act, 1961 & the actual provision made in the Financial Statements as at March 31, 2025 & March 31, 2024 with breakup of differences in Profit as per the Financial Statements and as per Income Tax Act, 1961.

During prior years, the Company entered into an agreement with M/s Boulevard Projects Private Limited for booking a commercial unit in the real estate project ‘Delhi One’. Due to non-fulfillment of the agreed terms by M/s Boulevard Projects Private Limited, the Company initiated legal proceedings and also filed a claim in the insolvency proceedings of M/s Boulevard Projects Private Limited under the Insolvency and Bankruptcy Code, 2016. As directed by the Resolution Professional appointed by the National Company Law Tribunal (NCLT), the Company deposited Rs. 0.82 lakhs, which was refunded in May 2025 following the resolution of the project by Max Estates Limited, the resolution applicant. The Company continues to pursue its claims in the ongoing legal proceedings, and any material financial impact will be disclosed as required.

(b) Rights, preferences and restrictions attached to each class of shares

The Company has only one class of equity shares having a par value of Rs. 10/- per share. Each holder of equity shares is entitled to one vote per share. The holders of Equity Shares are entitled to receive dividends as declared from time to time. The dividend proposed by the Board of Directors is subject to the approval of the shareholders in the ensuing Annual General Meeting.

In the event of liquidation of the Company, the holders of the equity shares will be entitled to receive any of the remaining assets of the Company, after distribution of all preferential amounts. The distribution will be in proportion to the number of shares held by the shareholders.

Nature & Purpose of Reserves

a) General Reserve

General reserve is created by the company by appropriating the balance of Retained Earnings. It is a free reserve which can be used for meeting the future contingencies, strengthening the financial position of the Company etc.

b) Retained Earning

Retained earnings are the profits that the Company has earned till date, less any transfers to general reserve, dividends or other distributions paid to shareholders.

Notes:

19 (i) Repayment terms and security disclosures for the outstanding secured non-current borrowings [including current maturities] as on March 31, 2025.

a) Outstanding term loan from HDFC Bank of Rs. 19.72 lakhs (March 31, 2024: Nil) including current maturities carrying an interest rate of 8.95% is secured by way of hypothecation of vehicle. Repayment of balance loan including current maturities is repayable in 52 monthly instalments from April, 2025.

b) Outstanding term loan from HDFC Bank of Rs. 31.36 lakhs (March 31, 2024: Nil) including current maturities carrying an interest rate of 8.85% is secured by way of hypothecation of vehicle. Repayment of balance loan including current maturities is repayable in 52 monthly instalments from April, 2025.

c) Outstanding term loan from Kotak Mahindra Prime Limited (NBFC) of Rs. 15.87 lakhs (March 31, 2024: Nil) including current maturities carrying an interest rate of 9.43% is secured by way of hypothecation of vehicle. Repayment of balance loan including current maturities is repayable in 51 monthly instalments from April, 2025.

19 (ii) Unsecured intercorporate loan from related parties carry an interest rate of 10% pa repayable on mutually agreed dates from financial year 2025-26 onwards and are taken for business purpose to meet the operational requirement of the company.

19 (iii) Outstanding loan from Dhoopla Enterprises Private Limited (loans from others) of Rs. 200 lakhs carry an interest rate of 9% repayable in 2 years.

19 (iv) For Current Maturities refer note no.: 24

The Disclosure in respect of the amounts payable to Micro and Small Enterprises have been made in the financial statements based on the information received and available with the Company. Further in view of the Management, the impact of interest, if any, that may be payable in accordance with the provisions of the Act is not expected to be material. The Company has not received any claim for interest from any supplier as at the balance sheet date. These facts have been relied upon by the auditors.

Note No: 40 Segment Reporting

The management of the company is of opinion that the company is in the business in such a manner that it has only one business segment and one geographical segment and there is no separate reportable segment as per Indian Accounting Standard (Ind AS) 108 "Operating Segment".

Note No: 41 Disclosure in respect of Employee Benefit Expenses

The Company has made provision in the accounts for Gratuity based on Actuarial valuation. The particulars under the Ind AS 19 "Employee Benefits" furnished below are those which are relevant and available to the Company for this year.

(a) Contributions to Defined Benefit Plan are as under :

The status of gratuity plan as required under Ind AS-19 :

The Company operates a defined benefit plan (the Gratuity plan) covering eligible employees, which provides a lump sum payment to vested employees at retirement, death, incapacitation or termination of employment, of an amount based on the respective employee''s salary and the tenure of employment.

The Company has a defined benefit gratuity plan (funded) and is governed by the Payment of Gratuity Act, 1972. Under the Act, every employee who has completed at least five year of service is entitled to gratuity benefits on departure at 15 days of basic salary (last drawn basic salary) for each completed year of service.

Aforesaid post-employment benefit plans typically expose the Company to actuarial risks such as: investment risk, interest rate risk, longevity risk and salary risk.

Investment Risk:

These Plans invest in long term debt instruments such as Government securities and highly rated corporate bonds. The valuation of which is inversely proportionate to the interest rate movements. There is risk of volatility in asset values due to market fluctuations and impairment of assets due to credit losses.

Interest Risk:

The present value of the defined benefit liability is calculated using a discount rate which is determined by reference to market yields at the end of the reporting period on Government securities. A decrease in yields will increase the fund liabilities and vice versa.

Longevity Risk:

The present value of the defined benefit liability is calculated by reference to the best estimate of the mortality of plan participants both during and after their employment. An increase in the life expectancy of the plan participants will increase the plan''s liability.

Salary Risk:

The present value of the defined benefit liability is calculated by reference to the future salaries of plan participants. As such, an increase in salary of the plan participants will increase the plan''s liability.

# It is important to note that in the previous financial year, the Company did not provide for gratuity liability as per the actuarial valuations as the number of employees fell below 10, but after legal advice confirmed the application of the relevant statute, the Company has now accounted for it based on an actuarial valuation as at the end of the current financial year. Accordingly, the comparative figures for previous has not been presented.

Note No: 42 Lease Accounting a) As a Lessor

The Company has leased out its investment property under operating lease for periods ranging up to 3 years. Lease payments are structured with periodic escalations consistent with the prevailing market conditions. There are no variable lease payments. The details of income from such leases are disclosed under Note No: 30. The Company does not have any risk relating to recovery of residual value of investment property at the end of leases considering the business requirements and other alternatives.

The undiscounted minimum lease payments to be received over the remaining non-cancellable term on an annual basis are as follows:

b) As a Lessee

The Company has lease contracts for building and office space. These lease contracts have lease term of 9 years. The weighted average incremental borrowing rate applied to discount lease liabilities is 9.08% other than in case of interest rate specified in lease agreements.

Note No: 43 Financial Instrument & Risk Review

(a) Accounting Classification and Fair Value Hierarchy

i) Financial Assets and Liabilities :

The Company''s principal financial assets include investments, derivative assets, trade receivables, cash and cash equivalents, other bank balances and deposits, interest accrued, security deposits, intercorporate deposits, contract assets and other receivables. The Company''s principal financial liabilities comprise of derivative liabilities, borrowings, lease liabilities, retention and capital creditors, interest accrued, deposit from customers and others, trade and other payables. The main purpose of these financial liabilities is to finance the Company''s operations and projects.

ii) Fair Value Hierarchy :

The fair value hierarchy is based on inputs to valuation techniques that are used to measure fair value that are either observable or unobservable and consists of the following three levels:

Level-1 : Inputs are quoted prices (unadjusted) in active markets for identical assets or liabilities.

Level-2 : Inputs are other than quoted prices included within Level-1 that are observable for the asset or liability, either directly (i.e. as prices) or indirectly (i.e. derived from prices).

Level-3 : Inputs are not based on observable market data (unobservable inputs). Fair values are determined in whole or in part using a valuation model based on the assumptions that are neither supported by prices from observable current market transactions in the same instrument nor are they based on available market data.

iii) The following tables summarise carrying amounts of financial instruments by their categories and their levels in fair value hierarchy for each year end presented.

(b) Financial Risk Management Objective and Policies :

The Company''s risk management activities are subject to the management direction and control under the framework of Risk Management Policy as approved by the Board of Directors of the Company. The Management ensures appropriate risk governance framework for the Company through appropriate policies and procedures and that risks are identified, measured and managed in accordance with the Company''s policies and risk objectives.

The Company is primarily exposed to risks resulting from fluctuation in market risk, credit risk and liquidity risk, which may adversely impact the fair value of its financial instruments.

(i) Market Risk

Market risk is the risk that future earnings and fair value of future cash flows of a financial instrument may fluctuate because of changes in market price. Market risk comprises of commodity price risk, currency risk and interest risk.

A. Commodity Price Risk:

Commodity Price Risk refers to the risk of financial loss arising due to fluctuations in the prices of commodities such as crude oil, natural gas, gold, silver, agricultural products, and metals. As the company is not engaged in the purchase or sale of commodities and does not hold any commodity based financial instruments, accordingly the company is not exposed to commodity price risk.

B. Foreign Currency Exchange Risk:

Foreign currency risk is the risk that the Fair Value or Future Cash Flows of an exposure will fluctuate because of changes in foreign currency rates. Exposures can arise on account of the various assets and liabilities which are denominated in currencies other than Indian Rupee.

The company operates only in the domestic market and all the transactions are denominated in Indian rupees. Accordingly, the company is not exposed to foreign currency exchange risk.

Financial Instrument & Risk Review (Contd.)

C. Interest Risk

Interest Risk is the risk that changes in interest rates will affect the company''s financial position, particularly its finance costs, interest income or the fair value of financial instruments. Interest risk mainly raises when the company has borrowings or loans, investment in fixed income securities, cash deposits earning with variable interest rate. The company''s financial instruments are primarily at fixed interest rates and do not expose it to interest rate volatility. Accordingly, the company is not significant exposed to interest rate risk.

(ii) Credit Risk

Credit risk refers to the risk that a counterparty or customer will default on its contractual obligations resulting in a loss to the Company. Financial instruments that are subject to credit risk principally consist of Loans and advances, Cash & Cash Equivalents, and Other Financial Assets. The carrying amounts of financial assets represent the maximum credit risk exposure.

(a) Loans and Advances & Other Financial Assets: The company does not perceived any significant credit risk as the loans and advances givens are the parties with appropriate creditworthiness.

(b) Cash and Cash Equivalents: The Company does not have any significant concentration of credit risk, as it primarily deals in cash and bank deposits with highly rated financial institutions.

(iii) Liquidity Risk

Liquidity risk are risk that an entity will encounter difficulty in meeting obligations associated with financial liabilities that are settled by delivering cash or another financial asset. The Company''s objective is to provide financial resources to meet its obligations when they are due in a timely, cost effective and reliable manner and to manage its capital structure. The Company monitors s liquidity risk using cash flow forecasting models. These models consider the maturity of its financial investments, committed funding and projected cash flows from operations. A balance between continuity of funding and flexibility is maintained through continued support from trade creditors, lenders and equity contributions.

The tables below provide details regarding contractual maturities of significant financial liabilities as at the reporting date based on contractual undiscounted payments.

NOTE: 46 Additional Regulatory Information

(a) The Company has not revalued its Property, Plant and Equipment during the year.

(b) The company did not have any outstanding Loans or Advances granted to its related parties at the end of year in the nature of Loans. Further, the company has not granted loans or advances in the nature of loans to its promoters, director and KMPs.

(c) The Company does not have any capital work in progress during the year.

(d) The Company neither has any intangible assets nor any intangible assets were under development by the company during the year.

(e) The company does not have any benami property, where any proceeding has been inititated or pending against the company for holding any benami property.

(f) The company is not declared as wilful defaulter by any bank or financial institution (as defined under the Companies Act 2013) or other lender in accordance with the guidelines on wilful defaulters issued by the Reserve Bank of India.

(g) The company has no transaction with companies struck off under section 248 of the Companies Act 2013 or Section 560 of the Companies Act, 1956.

(h) The company have registered all the charges and satisfaction with the ROC within the statutory period.

(i) The Company has complied with the provisions of Section 2(87) of the Companies Act, 2013 read with the Companies (Restriction on number of layers) Rules, 2017.

The Company does not have any subsidiaries, and hence, the requirement to restrict the number of layers is not applicable.

(j) No scheme of arrangement involving the company has been approved by the competent authority in terms of the section 230 to 237 of Companies Act 2013.

(k) The Company has not advanced or loaned or invested funds (either borrowed funds or share premium or any other sources or kind of funds) to any other person(s) or entity(ies), including foreign entities (Intemediaries) with the understanding, whether recorded in writing or otherwise that the intermediary shall (i) directly or indirectly lend or invest in other persons or entities identified in any manner whatsoever by or on behalf of the company (Ultimate Beneficiaries) or (ii) provide any guarantee, security or the like to or on behalf of the Ultimate Beneficiaries.

(l) The Company has not traded or invested in Crypto Currency or Virtual Currency during the financial year.

(m) The company has no tranaction that has been surrendered or disclosed as income during the year in the tax assessments under the Income Tax Act, 1961 which is unrecorded in the books of accounts.

(n) The Company is not covered under Section 135 of the Companies Act with regard to CSR activities.

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Mar 31, 2015

1. CORPORATE INFORMATION

Brand Realty Services Limited is a public company domiciled in India and incorporated under the provisions of The Indian Companies Act,1956. Its shares are listed on Bombay Stock Exchanges. Brand Realty Services Limited is primarily engaged in the business of Real Estate and it has started a new business acitivity as publishing of newspaper in the field of real estate segment.

2. The Company has only one class of equity share having a par value of Rs. 10/- per share. Each shareholder is eligible for one vote per share. The dividend proposed by the Board of Directors is subject to the approval of shareholders except in case of interim dividend. In the Event of liquidation, the equity shareholders are eligible to receive the remaining assets of the Company in proportion to their shareholding.

** a)The Term Loan from Religare Finvest Ltd of rupees 95,00,000/- was sanctioned on dated 15-10-2014 and the loan is repayable in 121 equally monthly installment commencing from 01-11-2014 alongwith interest.

3. The Term Loan from BMW India Fin.Serv. Pvt.Ltd of rupees 22,00,000/- was sanctioned against the car on dated 19-02-2014 and the loan is repayable in 60 equally monthly installment commencing from 16-03-2014 alongwith interest.

* Other borrowing costs includes bank charges,commitment charges, loan processing charges, guarantee charges, loan facilitation charges, discounts / premiums on borrowings, other ancillary costs incurred in connection with borrowings or amortisation of such costs, etc.

4. Contingent Liability not provided for:-

a) Bill discounted with the Bank Rs.: - Nil

b) Bank guaranty outstanding as on 31-03-2015 Rs.:- Nil

5. Deferred Tax Liabilities/(Assets)

a) The company is liable to regular tax and the provision of income tax of Rs. 383,515/- has been made out of current profit.

Provision has also been done for the Deferred Tax Liabilities net of Deferred Tax Assets amounting to a sum of Rs.278,699.00 out of current year profit.

b) The Composition of timming difference of Deferred Tax Liabilties is as under :

* On account of losses and Others (132,350.00)

* On account of Depreciation & Current Period depreciation 2,528,267.00

Total Deferred Tax Liabilities 2,395,917.00

6. As per Accounting Standard 18 issued by the ICAI the Companies/related parties and transaction with them are disclosed below:

Related Parties

Key Management Personnel Relative to Key Management Personnel

(a) (b)

Sh Kamal Manchanda

Smt Aruna Manchanda

Enterprises over which (a) and (b) have significant influence

(c)

Brand Realty Pvt. Ltd.

Tradewell Portfolios Pvt. Ltd.

Era Resorts Pvt Ltd Realtor Today Pvt Ltd

Sahil Securities Pvt Ltd

Subsidiary Company Ecopulse Infra Ltd

7. a) The balance of some accounts in Long Term Loans & Advances given, Trade Receivable, Long Term Liabilities, Long Term Borrowings, Short Term Borrowings, Trade Payable and Other Current Liabilities are subject to reconciliation/confirmation and have been shown as per values appearing in the books of accounts as good for recovery/payment unless specifically provided for.

b) In the opinion of the Board, the Current Assets and Loans & Advances would be,in the ordinary courses of business realize not less than the value stated in the balance sheet.

c) The TDS receivable and Brokerage income are subject to reconciliation with the 26AS of income tax.

d) Lease Hold Land: The company had purchased a residential plot in NOIDA.The matter is in dispute regarding ownership and allotment. The company is taking suitable legal action for this and the case is pending at Allahabad High Court . The amount had been shown as fixed assets in the Balance Sheet .

8. The company had invested Rs.465,000/- with Sahil and Elite Stock Broking Pvt.Ltd - for share allotment money in the year 19971998 but the shares were not alloted till date and amount shown under the share application money (Pending for allotment). No business was done in the company for last many years.

9. The Company has not received any information from parties, whether they are covered under the MICRO, Small and Medium Enterprises (Development) Act, 2006. Disclosure relating to amount unpaid at the year-end together with interest payable, if any, as required under the said Act are not ascertainable.

10. Previous year,s figures have been regrouped/reclassified, wherever necessary, to correspond with the current year,s classification / disclosure.

11. Significant accounting policies and practices adopted by the Company are disclosed in the statement annexed to these financial statements as Annexure I.

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Mar 31, 2014

1. CORPORATE INFORMATION

Brand Realty Services Limited is a public company domiciled in India and incorporated under the provisions of The Indian Companies Act,1956.

Its shares are listed on Bombay Stock Exchanges. Brand Realty Services Limited is primarily engaged in the business of Real Estate.

The Company has only one class of equity share having a par value of Rs. 10/- per share. Each shareholder is eligible for one vote per share. The dividend proposed by the Board of Directors is subject to the approval of shareholders except in case of interim dividend. In the Event of liquidation, the equity shareholders are eligible to receive the remaining assets of the Company in proportion to their shareholding.

* a)The Term Loan from HDFC Bank of rupees 15,00,000/- was sanctioned against the car on dated 12-11-2011 and the loan is repayable in 36 equally monthly installment commencing from 20-10-2011 alongwith interest.

b)The Term Loan from BMW India Fin.Serv. Pvt.Ltd of rupees 22,00,000/- was sanctioned against the car on dated 19-02-2014 and the loan is repayable in 60 equally monthly installment commencing from 16-03-2014 alongwith interest

NOTES TO ACCOUNT AND OTHER DISCLOUSURE

2. Contingent Liability not provided for:-

a) Bill discounted with the Bank Rs.: - Nil

b) Bank guaranty outstanding as on 31-03-2014 Rs.:- Nil

3. Deferred Tax Liabilities/(Assets)

a) The company is liable to regular tax and the provision of income tax of Rs. 300,000/- has been made out of current profit.

Provision has also been done for the Deferred Tax Liabilities net of Deferred Tax Assets amounting to a sum of Rs.10,383.00 out of current year profit.

4 a) The balance of some accounts in Long Term Loans & Advances given, Trade Receivable, Long Term Liabilities, Long Term Borrowings, Short Term Borrowings, Trade Payable and Other Current Liabilities are subject to reconciliation/confirmation and have been shown as per values appearing in the books of accounts as good for recovery/payment unless specifically provided for.

b) In the opinion of the Board, the Current Assets and Loans & Advances would be,in the ordinary courses of business realize not less than the value stated in the balance sheet.

c) The TDS receivable and Brokerage income are subject to reconciliation with the 26AS of income tax.

d) Service Tax paid/payable on commission/brokerage income and rented income are subject to reconciliation with Service Tax Return.

5. The company had invested Rs.465,000/- with Sahil and Elite Stock Broking Pvt.Ltd - for share allotment money in the year 1997-1998 but the shares were not alloted till date and amount shown under the share application money (Pending for allotment). No business was done in the company for last many years.

6. The Company has not received any information from parties, whether they are covered under the MICRO, Small and Medium Enterprises (Development) Act, 2006. Disclosure relating to amount unpaid at the year-end together with interest payable, if any, as required under the said Act are not ascertainable.

7. Previous year''s figures have been regrouped/reclassified, wherever necessary, to correspond with the current year''s classification / disclosure.

8. Significant accounting policies and practices adopted by the Company are disclosed in the statement annexed to these financial statements as Annexure I.

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Mar 31, 2013

1. Contingent Liability not provided for:-

a) Bill discounted with the Bank Rs.: - Nil

b) Bank guaranty outstanding as on 31 -03-2013 Rs.:- Nil

2. Deferred Tax Liabilities/(Assets)

a) The company is liable to regular tax and the provision of income tax of Rs.8,17,227/- has been made out of current profit.

Provision has also been done for the Deferred Tax Liabilities net of Deferred Tax Assets amounting to a sum of Rs. 1,79,223/- out of current year profit.

3. a) Thebalance ofsome accounts in Long Term Loans & Advances given, Trade Receivable, Long Term Liabilities, Long Term Borrowings, Short Term Borrowings and Other Current Liabilities are subject to reconciliation/confirmation and have been shown as per values appearing in the books of accounts as good for recovery/payment unless specifically provided for.

b) In the opinion of the board.the Current Asset and Loans & Advances would be,in the ordinary courses of business realize not less than the value stated in the balance sheet.

c) TheTDS receivable and brokerage income are subject to reconciliation with 26 AS of Income Tax Act.

d) Service Tax paid/payable on commission/brokerage income and rental income are subject to reconciliation with service tax return.

4. The company had invested Rs.465,000/- with Sahil and Elite Stock Broking Pvt.Ltd - for share allotment money in the year 1997-1998 but the shares were not alloted till date and amount shown under the share application money (Pending for allotment). No business was done in the company for last many years.

5. The Company had signed lease deed for property no.GF-18, at Omaxe Mall.Patiala on 29-02-2012 with Titan Industries Ltd. As per Clause No. 4(a) of the deed lease rent @ Rs. 1,05,000/- per month was due from 16 Aug, 2011. The same was not provided in the book of accounts in the previous year and now the same has been provided in the books of accounts and shown in current year as prior period income.

6. Prior period income includes rental income received from Titan Industries Limited rupees 6,30,000/- and rupees 1,20,060/- as maintenance charges reimbursed from Titan Industries Ltd.

7. The Company has not received any information from parties, whether they are covered under the MICRO, Small and Medium Enterprises (Development) Act, 2006. Disclosure relating to amount unpaid at the year-end together with interest payable, if any, as required under the said Act are not ascertainable.

8. 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, 2012

The Company has only one class of equity share having a par value of Rs. 10 per share. Each shareholder is eligible for one vote per share. The dividend proposed by the Board of Directors is subject to the approval of shareholders except in case of interim dividend.In the Event of liquidation, the equity shareholders are eligible to receive the remaining assets of the Company in proportion to their shareholding.

1. Contingent Liability not provided for:-

a) Bill discounted with the Bank Rs.: - Nil

b) Bank guaranty outstanding as on 31-03-2012 Rs.:- Nil

2. Deferred Tax Liabilities/(Assets)

a) The company is liable to regular tax and the provision of income tax of Rs.2443614/- has been made out of current profit.

Provision has also been done for the Deferred Tax Liabilities net of Deferred Tax Assets amounting to a sum of Rs.1353593/- out of current year profit.

3 a) The balance of some accounts in Long Term Loans & Advances given, Trade Receivable, Long Term Liabilities and Other Current Liabilities are subject to reconciliation/confirmation and have been shown as per values appearing in the books of accounts as good for recovery/ payment unless specifically provided for.

b) In the opinion of the board,the Current Asset and Loans & Advances would be,in the ordinary courses of business realize not less than the value stated in the balance sheet.

4 The company had invested Rs.465,000/- with Sahil and Elite Stock Broking Ltd - for share allotment money in the year 1997-1998 but the shares were not alloted till date and amount is shown under the share application money (Pending for allotment). There has been no business done in the company for last many years.

5 The Company has signed lease deed for property no.GF-18, at Omaxe Mall,Patiala on 29-02-2012 with Titan Industries Ltd. As per Clause No. 4(a) of the deed lease rent @ Rs.1,05,000/- per month was due from 16 Aug, 2011. The same has not been provided in the books of accounts. The management was not sure as to the amount to be received.

6 There are no outstanding dues in respect of small scale industrial undertakings as defined under clause (j) of section 3 of Industrial (Development and Regulation ) Act, 1951 ( Previous year NIL).

7 The Revised Schedule VI has become effective from April 1, 2011 for the preparation of financial statements. This has significantly impacted the disclosure and presentation made in the 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. Contingent Liability not provided for al Bill discounted with the Bank Rs.: - Nil

b) Bank guaranty outstanding as on 31-03-2010 Rs.- NIL

2. a) The balance of some accounts in Loan & Advances recoverable in cash or in kind, Share application money ( pending for allotment) Debtors, Creditors & Current Liabilities are subject to reconciliation/confirmation and have been shown as per values appearing in the books of accounts as good for recovery/payment unleass specifically provided for.

b) In the opinion of the board the Current Asset and Loans & Advances would be, in the ordinary courses of business realize not less than the value stated in the balance sheet.

3. The company had invested Rs.465,000/- with Sahil and Elite Stock Broking Pvt. Ltd - for share allotment money in the year 1997-98 but the shares were not alloted till date and amount shown under the share application money (Pending for allotment). There has been no business done in the Company for last many years.

4. Previous year figures have been reworked, regrouped, rearranged and reclassified wherever considered necessary. Amounts and other disclosures for the preceding year are included as an integral part of the current year financial statements and are to be read in relation to the amounts and other disclosures relating to current year.

5. Deferred Tax (Assets) / Liabilities

a) The company is liable to regular tax and the provision of income tax of Rs. 7,74,566/- has been made out of current profit. Provision has also been done for the Deferred Tax Liability net of Deferred Tax Assets amounting to a sum of Rs.6,59,223/- out of current year profit.

6. As per Accounting Standard 18 issued by the ICAI the Companies/related parties and transaction with them are disclosed below:

Related Parties

Key Management Personnel Relative to Key Management Personnel Enterprises over which (a) and (b) have significant influence (a) (b) (c)

Sh Kamal Manchanda Brand Realty Private Limited

Smt Aruna Manchanda (Subsidiary Company)

Sh K L Manchanda Tradewell Portfolios Private Limited

7. There are no outstanding dues in respect of small scale industrial undertakings as defined under clause (j) of section 3 of Industrial (Development and Regulation ) Act, 1951 ( Previous year NIL).

8. The company had accumulated reserve of rupees 34,33,083.00 under RBI Act from the previous years and since the company had surrenderd to RB; its registration certificat of NBFC, therefore there is no need to show the fund seperately and the amount has been transferred to general reserve.