Notes to Accounts of Abate As Industries Ltd.

Mar 31, 2014

1. ACCOUNTING STANDARDS:

a) Accounting Standard 17:

The Company is mainly engaged in Trading activity and the major revenue comes from the said activity, where as the other activities of Investment and Financial Services, form very negligent part. So the segment wise information is of no significant use, hence not furnished.

b) Related Parties disclosure as per Accounting Standard 18:

List of the relative party with whom transaction took place during the year. - NIL

c] Lease Agreement as per Accounting Standard 19:

The Company has entered in to an agreement of lease as under:

For Office at Mumbai w.e.f. from 1-04-2014 and will be terminate on 31-03-2014 and can be renewed further

d] Earning per share as per Accounting Standard 20:

2013-2014 2012-2013

a. Weighted average number of share at the beginning 50, 16,100 50,16,100 And end of the year

b. Net Profit after tax available for equity share holders 36,096 23,656

c. Diluted earnings per share 0.007 0.004

e] Taxes on Income Tax as per Accounting Standard 22:

i. Provision for Income Tax is made in accordance with the Income Tax Act, 1961.

ii. Current Tax is determined as the amount of tax payable in respect of taxable income for the year.

iii. Deferred tax for timing difference between the books profit and tax profit for the year is accounted using tax rates and tax laws that have been enacted or subsequently enacted at the Balance Sheet date.

2. Previous Year figures have been rearranged/regrouped wherever necessary, to make it comparable with figures of the current year.

3. The figures have been rounded off to the nearest multiple of Rupee.

4. Balances of Deposits, Advances and Unsecured Loans etc. are subject to confirmation.

5. In the opinion of the Board of Directors of the company, the current assets, loan and advances have value at least equal to the amount at which they are stated in Balance Sheet, if realized, in ordinary course of business.

6. The Company has given schedule of value of investments as per the rates given in BSE for Quoted shares. Unquoted shares are shown at cost as the market value is not available.

7. Auditor''s Remuneration include following:-

Companies Act Audit Fee Rs. 20,000/-

8. There is no employee who is in receipt of remuneration, which in aggregate was not less than Rs. 36,00,000/- p.a. If employed throughout the year, previous year (NIL), and Rs. 3,00,000/- p.m. in aggregate if employed for the part of the year, previous year (NIL).

9. Amount due to Small Scale Industries Rs. Nil as on 31/03/2014 out of which amount outstanding for more than Rs. 1.00 lac and due for more than 30 days is Rs. Nil.

10.

a) Value of Imports - NIL

b) Earnings in foreign exchanges - NIL

c) Remittance in foreign exchange - NIL

d) Expenditure in foreign exchange - NIL

Note 11 - Contingent Liabilities and Commitments (to the extent not provided for) (Amount in Rs.) Particulars Current Reporting Period Previous Reporting Period 2013-14 2012-13

(a) Contingent Liabilities - -

(B) Commitments - -

TOTAL

Note:

The above note should be modified as per the disclosure requirements of AS-29

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Mar 31, 2013

A) Accounting Standard 17:

The Company is mainly engaged in trading activity and the major revenue comes from the said activity, where as the other activities of Investment and Financial Services, form very negligent part. So the segment wise information is of no significant use, hence not furnished.

b) Related Parties disclosure as per Accounting Standard 18:

List of the relative party with whom transaction took place during the year. -

---- NIL ------

c] Lease Agreement as per Accounting Standard 19:

The Company has entered in to an agreement of lease as under:

For Office at Mumbai w.e.f. from 1-04-2013 and will be terminate on 31-03-2014 and can be renewed further.

e] Taxes on Income Tax as per Accounting Standard 22:

i. Provision for Income Tax is made in accordance with the Income Tax Act, 1961.

ii. Current Tax is determined as the amount of tax payable in respect of taxable income for the year.

iii. Deferred tax for timing difference between the books profit and tax profit for the year is accounted using tax rates and tax laws that have been enacted or subsequently enacted at the Balance Sheet date.

1. Previous Year figures have been rearranged/regrouped wherever necessary, to make it comparable with figures of the current year.

2. The figures have been rounded off to the nearest multiple of Rupee.

3. Balances of Deposits, Advances and Unsecured Loans etc. are subject to confirmation.

4. In the opinion of the Board of Directors of the company, the current assets, loan and advances have value at least equal to the amount at which they are stated in Balance Sheet, if realized, in ordinary course of business.

5. The Company has given schedule of value of investments as per the rates given in BSE for Quoted shares. Unquoted shares are shown at cost as the market value is not available.

6. There is no employee who is in receipt of remuneration, which in aggregate was not less than Rs. 36,00,000/- p.a. If employed throughout the year, previous year (NIL), and Rs. 3,00,000/- p.m. in aggregate if employed for the part of the year, previous year (NIL).

Note : Sales During The Year includes Stock in trade of quantity 41 No.s of Packages worth Rs.89,19,030/- Transferred to companies fixed assets for own use.

7. Amount due to Small Scale Industries Rs. Nil as on 31/03/2013 out of which amount outstanding for more than Rs. 1.00 lac and due for more than 30 days is Rs. Nil.

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Mar 31, 2012

(a) Detailed note on shares reserved to be issued under options and contracts (ESOPs or Loans) / commitment for the sale of shares (without payment being received in cash) divestments including the terms and conditions.

(b) Detailed terms of any securities convertible into shares, e.g. in the case of convertible warrants, debentures, bonds etc. Disclosure should be security wise starting from the farthest date of conversion and ending with the earliest date of conversion

(c) Aggregate amount of provision for diminution in value of investments.

(b) Basis of valuation of investments carried at other than cost.

(e) Details of the names of the partnership firms with name of all their partners, total capital and share of each partner (as currently given).

a) Accounting Standard 17:

The Company is mainly engaged in trading activity and the major revenue comes from the said activity, where as the other act Mets of investment and financial services, form very negligent it of no Significant use, hence not furnished.

b) Related parties disclosure as per accounting Standard 18:

List of the related party with whom transaction took place during the year.

c] Lease Agreement as per Accounting Standard 19:

The Company has entered m to an agreement of lease as under:

For office at Mumbai w.e.f. from 1.04.2012 and will be terminate on 31..3.2013.

d] Taxes on Income Tax as per Accounting Standard 22:

i. Provision for Income Tax is made in accordance with the Income Tax Act, 1961. ii. Current Tax is determined as the amount of tax payable in respect of taxable income for the year. iii. Deferred tax for timing difference between the books profit and tax profit for the year is accounted using tax rates and tax laws that have been enacted or subsequently enacted at "the balance sheet date .

1. Previous year figures have been rearranged / regrouped wherever necessary, to make it comparable with figures of the current year.

2. The figures have been rounded off to the nearest multiple of Rupee.

3. Ba1ances of deposits, Advances and unsecured loans etc. are subject to confirmation.

4. In the opinion of the Board of Directors of the company, the current assets, loan and advances have value at least equal to the amount at which they are stated in Balance Sheet, if realized in ordinary course of business.

5. The company has given schedule of value of investments as per the rates given in BSE for quoted shares. Unquoted shares are shown at cost as the market value is not available.

6. There is no employee who is in receipt of remuneration, which in aggregate was not less than Rs. 36,00,000/- p.a. If employed throughout the year, previous year (NIL), and Rs. 3,00,000/- p.m. in aggregate if employed for the part of the year, previous year (NIL).

7. Amount due to small scale Industries Rs. Nil as on 31/03/2012 out of which amount outstanding tor more than Rs. 1.00 lac and due for more than 30 days is Rs. Nil.

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Mar 31, 2011

A) Accounting Standard 17:

The Company is mainly engaged in trading activity and the major revenue comes from the said activity, where as the other activities of investment and financial services, form very negligent part. So the segment wise information is of no significant use, not given.

b) Related parties disclosure as per accounting Standard 18:

List of the relative party with whom transaction took place during the year. -----NIL-----

C) Lease Agreement as per Accounting Standard 19:

The Company has entered in to an agreement of lease as under: For Office at Mumbai w.e.f. from 1-04-2010 stands terminated on 31- 03-2011 and can be renewed further.

i. Provision for Income Tax is made in accordance with the Income Tax Act, 1961.

ii. Current Tax is determined as the amount of tax payable in respect of taxable income for the year.

iii. Deferred tax for timing difference between the books profit and tax profit for the year is accounted using tax rates and tax laws that have been enacted or subsequently enacted at the balance sheet date.

1. Previous year figures have been rearranged egrouped wherever necessary to make it comparable with figures of the current year.

2. The figures have been rounded off to the nearest multiple of Rupee.

3. Balances of deposits, Advances and unsecured loans etc. are subject to confirmation.

4. In the opinion of the Board of Directors of the company, the current assets, loan and advances have value at least equal to the amount at which they are stated in Balance Sheet, if realized in ordinary course of business.

5. The company has given schedule of value of investment as per the rates given in BSE for quoted shares. Unquoted shares are shown at cost as the market value is not available.

6. There is no employee who is in receipt of remuneration, which in aggregate was not less than Rs. 36, 00,000/- p.a. If employed through out the year, previous year (NIL), and Rs. 3, 00,000/- p.m. in aggregate if employed for the part of the year, previous year (NIL).

7. Amount due to small scale Industries Rs. Nil as on 31/03/2011 out of which amount outstanding for more than Rs. 1.00 lack and due for more than 30 days is Rs. Nil.

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Mar 31, 2010

1. ACCOUNTING STANDARDS:

a) Accounting Standard 17:

The Company is mainly engaged in trading activity and the major revenue comes from the said activity, where as the other activities of investment and financial services, form very negligent part. So the segment wise information is of no significant use, not given.

b) Related parties disclosure as per accounting Standard 18:

List of the relative party with whom transaction took place during the year.

----- NIL -----

c] Lease Agreement as per Accounting Standard 19:

The Company has entered in to an agreement of lease as under: For Office at Mumbai w.e.f. from 1-04-2009 stands terminated on 31-03-10 and can be renewed further.

e] Taxes on Income Tax as per Accounting Standard 22:

i. Provision for Income Tax is made in accordance with the Income Tax Act, 1961.

ii. Current Tax is determined as the amount of tax payable in respect of taxable income for the year.

iii. Deferred tax for timing difference between the books profit and tax profit for the year is accounted using tax rates and tax laws that have been enacted or subsequently enacted at the balance sheet date .

2. Previous year figures have been rearranged egrouped wherever necessary to make it comparable with figures of the current year.

3. The figures have been rounded off to the nearest multiple of Rupee.

4. Balances of deposits, Advances and unsecured loans etc. are subject to confirmation.

5. In the opinion of the Board of Directors of the company, the current assets, loan and advances have value at least equal to the amount at which they are stated in Balance Sheet, if realized in ordinary course of business.

6. The company has given schedule of value of investment as per the rates given in BSE for quoted shares. Unquoted shares are shown at cost as the market value is not available.

7. There is no employee who is in receipt of remuneration, which in aggregate was not less than Rs. 36,00,000/- p.a. If employed through out the year, Previous year (NIL), and Rs. 3,00,000/- p.m. in aggregate if employed for the part of the year, Previous year (NIL).