Notes to Accounts of Ushakiran Finance Ltd.

Mar 31, 2015

1.(b) Terms / Rights attached

The company has issued only one class of shares having face value of Rs.10/- per share. Each holder of equity shares who has paid total amount of Rs.10/- per share is entitled to one vote per share.

2. Confirmation of balances of certain parties for amounts due to them/ due from them as per the accounts of the Company have not been received. However, the balances stated in the books of account are final as it is indicated that the company's balances will be treated as final and correct if confirmation is not received by particular date.

3. As per the records and information available with the company, there are no dues to Micro, Small and Medium Enterprises. Hence, information as required under Section 22 of the Micro, Small and Medium Enterprises Development Act, 2006 is not furnished.

4. The depreciation expense in the Statement of Profit and Loss for the year is higher by Rs.47,210/- due to charging of depreciation as prescribed in Schedule II to the Companies Act, 2013.

5. None of the Directors or their relatives, firms/private companies in which any director is a partner/director/manager or companies under the same management have taken any loan/advance from the company.

6. In the opinion of Board of Directors of the Company the Current Assets, Loans & Advances are approximately of the value stated in the accounts, if realized in the ordinary course of business, unless otherwise stated. The provisions for all known liabilities, unless otherwise stated are adequate and not in excess of the amount reasonably necessary.

7. Earnings per share: The following reflects the Income and Share data used in the computation of Basic and diluted Earnings per share:

8. The company is mainly engaged in the business of Investments and providing finance and all other activities of the company revolve around the main business and as such, there are no separate reportable segments.

9. Related Party Transactions:

Related party disclosures as required under Accounting Standard 18 are given below:

Related Parties

Enterprises significantly influenced by Directors/key Management personnel or their relatives:

Sigachi Laboratories Limited and Krishnaraj Securities Private Limited.

The following transactions were carried out during the year with related parties in the ordinary course of business:

10. Previous year figures have been regrouped/reclassified/rearranged, wherever necessary to conform to the classification of the current year figures.

11. Additional information required under paragraphs 3 & 4 of part II of Schedule VI of the Companies Act, 1956 to the extent applicable. (a) Quantitative details of (Stocks) Shares & Securities:

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Mar 31, 2014

1.(b) Terms / Rights attached

The company has issued only one class of shares having face value of Rs.10/- per share. Each holder of equity shares who has paid total amount of Rs.10/- per share is entitled to one vote per share.

2. Confirmation of balances of certain parties for amounts due to them/ due from them as per the accounts of the Company have not been received. However, the balances stated in the books of account are final as it is indicated that the company''s balances will be treated as final and correct if confirmation is not received by particular date.

3. As per the records and information available with the company, there are no dues to Micro, Small and Medium Enterprises. Hence, information as required under Section 22 of the Micro, Small and Medium Enterprises Development Act, 2006 is not furnished.

4. Balances in Fixed Deposits include deposits of Rs.22,49,733/- (Rs.20,54,666/-) in Adarsh Co-operative Urban Bank Limited and the same amounts are the maximum outstanding balances in the respective years. None of the Directors are interested in the above said co-operative bank.

5. None of the Directors or their relatives, firms/private companies in which any director is a partner/director/manager or companies under the same management have taken any loan/advance from the company.

6. In the opinion of Board of Directors of the Company the Current Assets, Loans & Advances are approximately of the value stated in the accounts, if realised in the ordinary course of business, unless otherwise stated. The provisions for all known liabilities, unless otherwise stated are adequate and not in excess of the amount reasonably necessary.

7. Earnings per share: The following reflects the Income and Share data used in the computation of Basic and diluted Earnings per share:

8. The company is mainly engaged in the business of Investments and providing finance and all other activities of the company revolve around the main business and as such, there are no separate reportable segments.

9. Related Party Transactions:

Related party disclosures as required under Accounting Standard 18 are given below:

Related Parties

Enterprises significantly influenced by key Management personnel or their relatives:

Sigachi Laboratories Limited and Krishnaraj Securities Private Limited.

The following transactions were carried out during the year with related parties in the ordinary course of business:

10. Additional information required under paragraphs 3 & 4 of part II of Schedule VI of the Companies Act, 1956 to the extent applicable.

11. Previous year figures have been regrouped/reclassified/rearranged, wherever necessary to conform to the current year presentation and also to be in conformity with revised schedule - VI.

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Mar 31, 2013

1. Confirmation of balances of certain parties for amounts due to them/ due from them as per the accounts of the Company have not been received. However, the balances stated in the books of account are final as it is indicated that the company''s balances will be treated as final and correct if confirmation is not received by particular date.

2. As per the records and information available with the company, there are no dues to Micro, Small and Medium Enterprises. Hence, information as required under Section 22 of the Micro, Small and Medium Enterprises Development Act, 2006 is not furnished.

3. Balances in Fixed Deposits include deposits of Rs.20,54,666/- (Rs. 18,81,964/-) in Adarsh Co-operative Urban Bank Limited and the same amounts are the maximum outstanding balances in the respective years. None of the Directors are interested in the above said co-operative bank.

4. None of the Directors or their relatives, firms/private companies in which any director is a partner/director/manager or companies under the same management have taken any loan/advance from the company.

5. In the opinion of Board of Directors of the Company the Current Assets, Loans & Advances are approximately of the value stated in the accounts, if realised in the ordinary course of business, unless otherwise stated. The provisions for all known liabilities, unless otherwise stated are adequate and not in excess of the amount reasonably necessary.

6. The company is mainly engaged in the business of Investments and providing finance and all other activities of the company revolve around the main business and as such, there are no separate reportable segments.

7. Related Party Transactions:

Related party disclosures as required under Accounting Standard 18 are given below:

Related Parties

Enterprises significantly influenced by key Management personnel or their relatives: Sigachi Laboratories Limited and Krishnaraj Securities Private Limited.

8. Previous year figures have been regrouped/reclassified/rearranged, wherever necessary to conform to the current year presentation and also to be in conformity with revised schedule

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Mar 31, 2012

1. (a) Terms / Rights attached '

The Company has issued only one class of shares having face of Rs.10/- per share. Each holder of equity shares who has paid total amount of Rs.10/- per share is entitled to oqe, vote per share. ... ,

2. Confirmation of balances of certain parties for amounts due to them/due from them as per the accounts of the Company have not been received. However, the balances stated in the books of account are final as it is indicated that the company's balances will be treated as final and correct if confirmation is not received by particular date.

3. As per the records and information available with the company, there are no dues to Micro, Small and Medium Enterprises. Hence, information as required under Section 22 of the Micro, Small and Medium Enterprises Development Act, 2006 is not furnished.

4 Balances in Fixed Deposits include deposits of Rs. 18,81,964/- (Rs. 17,30,706/-) in Adarsh Co- operative Urban Bank Limited and the same amounts are the maximum outstanding balances in the respective years. None of the Directors are interested in the above said co-operative bank.

5 None of the Directors or their relatives, firms/private companies in which any director is a partner/director/manager or companies under the same management have taken any loan/advance from the company.

6. In the opinion of Board of Directors of the Company the Current Assets, Loans & Advances are approximately of the value stated in the accounts, if realised in the ordinary course of business, unless otherwise stated. The provisions for all known liabilities, unless otherwise stated are adequate and not in excess of the amount reasonably necessary.

7. Contingent Liabilities:

Unpaid liability for partly paid shares amounts to Rs.NIL (Rs.7.00 Lakhs)

8. The company is mainly engaged in the business of Investments and providing finance and all other activities of the company revolve around the main business and as such, there are no separate reportable segments.

9. Previous year figures have been regrouped/reclassified/rearranged, wherever necessary to conform to the current year presentation andalso to be in conformity with revised schedule - VI.

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Mar 31, 2010

1. Confirmation of balances of certain parties for amounts due to them/ due from them as per the accounts of the Company have not been received. However, the balances stated in the books of account are final as it is indicated that the Companys balances will be treated as final and correct if confirmation is not received by particular date.

2. As per the records and information available with the company, there are no dues to Micro, Small and Medium Enterprises. Hence, information as required under section 22 of the Micro, Small and Medium Enterprises Development Act, 2006 is not furnished.

3. None of the Directors or their relatives, firms/private companies in which any director is a partner/director/manager or companies under the same management have taken any loan/advance from the company.

4. In the opinion of Board of Directors of the Company the Current Assets, Loans & Advances are approximately of the value stated in the accounts, if realised in the ordinary course of business, unless otherwise stated. The provisions for all known liabilities, unless otherwise stated are adequate and not in excess of the amount reasonably necessary.

5. The company has adopted accounting standard 22 - Accounting for Taxes on Income issued by the Institute of Chartered Accountants of India, however Deferred Tax Asset has not been accounted after set off, in view of accumulated losses. Current tax is determined as the amount of tax payable as per the provisions of the Income Tax Act, 1961.

6. Earnings per share: The following reflects the Income and Share data used in the computation of Basic and diluted Earnings per share:

7. The company is mainly engaged in the business of providing finance and all other activities of the company revolve around the main business and as such, there are no separate reportable segments.

8. Related Party Disclosures:

Related party disclosures during the year as required under Accounting Standard 18 - Nil.

9. Additional information required under paragraphs 3 & 4 of part II of Schedula VI of the Companies Act, 1956 to the extent applicable.

10. Previous year figures have been regrouped/reclassified/rearranged, wherever necessary.