(a) Terms/rights attached to equity shares

The Company has only one class of equity shares having a par value of 10/- per share. Each holder of equity shares is entitled to one vote per share. The Company declares and pays dividend in Indian Rupees. The dividend proposed by the Board of Directors is subject to the approval of the shareholders in the Annual General meeting.

In the 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 preferential amounts. The distribution will be in proportion to the number of equity shares held by the shareholders.

(b) The Company does not have a holding company.

(c) Aggregate number and class of shares allotted as fully paid-up pursuant to scheme of amalgamation without payment being received in cash.

The Company allotted 22,00,750 equity shares of 10/- each and 70,42,400 0% Optionally Convertible Redeemable Preference Shares of 10/- each in pursuance of scheme of amalgamation without payment being received in cash during the year ended March 31, 2011.

2. Contingent Liabilities not provided for :

                                                       (Amount in Rs. )

Particulars                                   2014-15           2013-14

B.   Bank Certificate for cancelled                 -                -
     guarantee

    Income Tax                               5,47,469         5,47,469

    Excise Duty                              2,26,871         2,26,871

* Based on the decisions of the Appellate authority and interpretation of other provision, the company has legally advised that demand is likely to be either deleted or substantially reduced and accordingly no provision has been made.

3. Estimated amount of contracts remaining to be executed on capital account and not provided for (net of advances) Nil (2014: Nil)

4. There are no Micro, Small and Medium Enterprises, to whom the Company over dues which are outstanding for more than 45 days as at March 31,2015 and no interest payment during the year to any Micro, Small and Medium Enterprises. This information as required to be disclosed under the Micro, Small and Medium Enterprises Development Act, 2006 has been determined to the extent such parties have been identified on the basis of information available with the Company. This has been relied upon by the auditors.

5. Company operates in a single business segment. However it operates both in Indian and international markets. Accordingly information required under AS - 17 "Segment Reporting" pertaining to geographical segment is as under :

6. Leases

The Company has entered into operating lease arrangements for premises. The future minimum lease rental obligations under non-cancellable operating lease for the period less than 1 year is 1,50,000/- (2014 : Nil).

7. During the year, 35,96,400 0% Optionally Convertible Preference Shares of 10/- each were converted into 35,96,400 Equity Shares of 10/- each.

8. As of balance sheet date, the company has net foreign currency exposures (In USD) that are not hedged by derivative instruments or otherwise amounting to Nil (2014: NIL).

9. Related Party Disclosure:

Disclosures as required by the Accounting Standard 18 "Related Party Disclosure" is given below:

a) List of Key Management Personnel and Relatives

Key Management Personnel

Mr. Apoorva H. Shah - Managing Director

Mrs. Alpa A. Shah - Whole time Director

Company over which key management personnel are able to exercise significant influence

NHC Mercantile Private Limited

b) Disclosure in respect of material Related Party Transactions during the year:

(i) Loan Taken includes from Mr. Apoorva H. Shah 3,67,00,000 (2014: 12,000).

(ii) Repayment of Loans taken includes to Mr. Apoorva H. Shah Rs. 1,27,56,016 (2014: 38,74,043).

(iii) Remuneration includes to Mr. Apoorva H. Shah 42,25,450 (2014: 29,17,404) and to Mrs. Alpa

A. Shah 42,25,450 (2014: 29,17,404).

10. Previous year figures have been recasted / restated wherever necessary.