Borrowing Costs that are attributable to the acquisition or construction of qualifying assets are capitalised as part of the cost of such assets. A qualifying asset is one that necessarily takes a substantial period of time to get ready for its intended use or sale. All other borrowing costs are charged to revenue.

2. Terms/Rights attached to equity shares:

The company has only one class of equity share having a par value of Rs. 10 per share. Each holder of equity shares is entitled to one vote per share.

During the year ended 31st March 2015, the amount of per share dividend recognized as distributions to equity shareholders was Rs. Nil (31st March 2014 Rs. Nil)

(A) While determining dimunition other than temporary in the value of the long term quoted/unquoted investments, has not been provided as in the view of the management such dimunition is temporary in nature and as such there is no requirement of making any provision.

3. Contingent Liabilities Not Provided For : -

                                                 31.03.2015  31.03.2014

a) Estimated amount of contracts remaining to be
   executed on capital account                       NIL          NIL

4. Foreign Exchange earnings and out-go is Rs. NIL (P.Y. NIL)

5. Segment Reporting

Segment Reporting as defined in Accounting Standards 17 is not applicable as the company is primarily engaged in Finance Activity.

6. Disclosure requirements as per Accounting Standard 18 (AS-18) "Related Party Disclosure" issued by the Institute of Chartered Accountants of India

I. List of Related Parties :

Name of the Related Party Nature of Relationship

Mangalam Exim Private Limited Shareholder

Kumaar Bagrodia                           Shareholder

i) GSL Securities Limited - Associate Company

Key Managerial Personnel:-

i) Mr. Kaushal Atul Mehta - Director

ii) Mr. Brij Mohan Kabra - Director

iii) Mr. Mukesh Kumar Nolkha - Director

iv) Mr Sneh Lal Gupta- Additional Director(Appointed w.e.f. 27/03/2015)

7. Deferred taxes on Income:-

The company is entitled to create deferred tax asset/ liability in the books of A/cs with respect to timing difference of carried forward business and depreciation losses as well as depreciation. However, in view of carried forward business & depreciation losses there is no reasonable certainty that the asset can be realized. Hence the deferred tax asset is not recognized on the ground of prudence.

8. In the absence of confirmation from some of the parties and pending reconciliation the debit and credit balances with regard to recoverable and payable have been taken as reflected in the books. In the opinion of the Directors, Loans and Advances and Current Assets, if realized in the ordinary course of business, have the value at which they are stated in the Balance Sheet.

9. As per Accounting Standard 20 "Earning Per Share'' issued by Institute of Chartered Accountant of India the Company gives following disclosure for the year.

10. During the year, the Company has provided Rs. NIL/- (P.Y. NIL-), towards Non- performing Assets in accordance with the prudential norms prescribed by Reserve Bank of India.

11. The figures of the previous year have been regrouped and recast wherever necessary to confirm to the groupings of the current year.

12. There were no outstanding Dues to Micro, Small and Medium Enterprises to the Extent Information Available with the Company and the Payments in respect of such suppliers are made within the appointed day.