The Company is engaged in the business of IT Services and Consulting.

The Company was until February 2010, operating in the name of Jaisal Securities Limited. Effective from February 4, 2010, the name of the company was changed to AURUM SOFT SYSTEMS LIMITED. The Shares of the Company are listed on the Bombay stock exchange.

2. Shares held by holding company, its subsidiaries and associates

The company does not have any holding company.

3. Rights, preferences and restrictions attached to equity shares

The company has one class of equity shares having a face value of Rs. 2/- per share. Each shareholder is eligible for one vote for each share held in the company. The dividend proposed by the Board of Directors is subject to approval of the shareholders in the ensuing Annual General Meeting, except in case of interim dividend. In the event of liquidation, the equity shareholders are eligible to receive the remaining assets of the company after distribution of all preferential amounts, in proportion to their shareholding.

4. Rights, preferences and restrictions attached to preference shares

The company has not issued any preference shares

5. Shares allotted as fully paid up by way of bonus shares (during the 5 years preceding 31st March 2015)

The Company allotted 21,700,000 equity shares of face value Rs. 2/-, as fully paid up bonus shares by utilisation of the Securities premium account on 7th February 2011, pursuant to a shareholder's resolution passed at the Extra ordinary General Meeting held on 19th January 2011.

Business Segment

The Company has only one reportable business segment viz., IT services and Consulting.

Geographical Segment

Entire Revenue from IT services and Consulting business is derived from clients in India and hence the Company does not have any separate reportable geographical segment.

The economic slowdown and the tightening of the immigration laws and hiring procedures have had an adverse effect on the operations of the Company's step down subsidiaries namely Dice Technologies Inc., USA and Dicetek LLC., Dubai. This has adversely impacted the financial position of the step down subsidiaries. In view of this, Dicetek (Sing) Pte Limited, Singapore, has disposed of investment in the shares held by it in Dice Technologies Inc., USA. Accordingly, Dice Technologies Inc., USA has ceased to be a subsidiary of the Company. Dicetek (Sing) Pte Limited, Singapore has also taken steps to dispose of its investment in Dicetek LLC., Dubai

6. RELATED PARTY DISCLOSURE

i. Parties exercising Substantial control

Shripathee Investments Private Limited - Principal Shareholder - Holds 28.31% of the paid up equity share capital of the Company as on March 31, 2015.

ii. Key Managerial personnel

Mr. Srikanth Ramanathan, Managing Director

iii. Subsidiaries

Dicetek (Sing) Pte Limited, Singapore

Dicetek LLC., Dubai

7. Gratuity

The computations are based on the following assumptions:

Discount rate :      8%

* As per the actuarial valuation carried out, no material additional gratuity liability exists when compared to last financial year. Hence no provision for gratuity has been made for the financial year.

8. The Company did not have any outstanding dues to any Micro or Small Enterprises as defined under Micro, Small and Medium Enterprises Development Act, 2006 at any point during the year that were outstanding for a period of more than 45 days from the date of acceptance.

9. Forward Contracts

The Company does not hedge its risks associated with foreign currency fluctuations relating to its receivables and payables, by entering into foreign currency forward contracts. The Company also does not use forward contracts for speculative purposes.

10. CONTINGENT LIABILITY

The Company has not provided any liability in respect of the following contested claim:

Name of the Statute : Income Tax Act, 1961

Nature of Dues                 : Income Tax

Amount                         : Rs. 499,559

Forum where dispute pending : CIT (Appeals)

The Company has paid the said amount of Rs. 499,559 under protest. The Company however is of the opinion that the above demand is not sustainable and expects to succeed in its appeal.

11. The previous year figures have been regrouped / reclassified, wherever necessary to confirm to the current year presentation. Accordingly, amounts and other disclosure for the previous year are included as an integral part of the current year's Financial Statement and are to be read in relation to the amounts and other disclosures relating to the current year.