Integrated Capital Services Ltd. இன் கணக்கு குறிப்புகள்

Mar 31, 2025

(d) Claims, Provisions, Contingent assets and Liabilities:

Claims lodged by and lodged against the Company are accounted in the period of payment or settlement thereof.

Provisions are recognised when, as a result of a past event, the Company has a legal or constructive obligation; it is probable that an
outflow of resources will be required to settle the obligation; and the amount can be reliably estimated. The amount so recognised is
the best estimate of the consideration required to settle the obligation at the reporting date, taking into account the risks and
uncertainties surrounding the obligation.

In an event when the time value of money is material, the provision is carried at the present value of the cash flows estimated to settle
the obligation.

Contingent liabilities are not recognised but are disclosed by way of notes to the financial statements, after careful evaluation by the
management of the facts and legal aspects of each matter involved. Contingent assets are neither recognised nor disclosed in the
financial statements.

Contingent liabilities are assessed continually to determine whether an outflow of resources embodying the economic benefit has
become probable. If it becomes probable that an outflow of future economic benefits will be required for an item previously dealt with
as contingent liability, a provision is recognised in the financial statements of the period in which the change in probability occurs.

(e) Recognition of revenue and expenditure

(i) Revenue is recognised to the extent that is probable that the economic benefits will flow to the Company and the revenue can be
reliably measured, regardless of when the payment is being made. Revenue is measured at the fair value of the consideration
received or receivable, taking into account contractually defined terms of payment and excluding taxes or duties collected on the
behalf of the government.

Revenue is recognised in the period in which the services are rendered and the amount of revenue can be measured reliably and
recovery of the consideration is probable.

(ii) Interest and dividend income

Interest income is recognised using Effective Interest Method (EIR).

EIR is the rate that exactly discounts the estimated future cash payments or receipts over the expected life of financial
instruments or a shorter period, where appropriate, to the gross carrying amount of the asset or to the amortised cost of financial
liability. When calculating the effective interest rate, the Company estimates the expected cash flows by considering all the
contractual terms of the financial instrument but does not consider the expected credit loss.

Dividend income is recognised in the Statement of Profit and Loss when the right to receive dividend is established.

(f) Employee benefits

Benefits such as salaries, wages and short term compensations etc. is recognized in the period in which the employee renders the
related service.

The Company makes contributions to defined benefit schemes. The Company makes contribution to defined benefit i.e. gratuity plan.
The cost of providing benefits under the defined benefit obligation is calculated by independent actuary using the projected unit credit
method. Service costs and net interest expense or income is reflected in the Statement ofProfit and Loss. Gain or Loss on account ofre-
measurements are recognised immediately through other comprehensive income in the period in which they occur.

(g) Taxes on income

Taxes on income comprises of current taxes and deferred taxes. Current tax in the Statement of Profit and Loss is provided as the
amount of tax payable in respect of taxable income for the period using tax rates and tax laws enacted during the period, together with
any adjustment to tax payable in respect of previous years.

Deferred tax is recognised on temporary differences between the carrying amounts of assets and liabilities and the amounts used for
taxation purposes (tax base), at the tax rates and tax laws enacted or substantively enacted by the end of the reporting period.

Deferred tax assets are recognised for the future tax consequences to the extent it is probable that future taxable profits will be
available against which the deductible temporary differences can be utilised.

Deferred tax assets and liabilities are offset when there is legally enforceable right to offset current tax assets and liabilities and when
the deferred tax balances related to the same taxation authority. Current tax assets and tax liabilities are offset where the entity has a
legally enforceable right to offset and intends either to settle on net basis, or to realize the asset and settle the liability simultaneously.

(h) Foreign currency transactions and translation

Transactions in foreign currency are accounted for at the exchange rate prevailing on the transaction date. Gains/ losses arising on
settlement as also on translation of monetary items are recognised in the Statement of Profit and Loss.

(i) Prior period errors

Prior Period Errors are omissions from, and misstatements in, prior period financial statements resulting from the failure to use, or the
misuse of, reliable information that was available, or could be reasonably expected to have been obtained, at the time of preparation of
those financial statements.

Prior Period Errors has been corrected retrospectively in the financial statements. Retrospective application means that the correction
affects only prior period comparative figures, current period amounts are unaffected. Comparative amounts of each prior period
presented which contain errors are restated. If however, an error relates to a reporting period that is before the earliest prior period
presented, then the opening balances of assets, liabilities and equity of the earliest prior period presented has been restated. (As per
IAS 8).

(j) Borrowing cost

Borrowing Cost attributable to the acquisition or construction of qualifying assets are capitalised as part of the cost of such assets upto
the date when such assets are ready for intended use. Other borrowing costs are charged to Statement ofProfit and Loss as expense in
the period in which they are incurred.

(k) Earnings per share

Basic earnings per equity share is computed by dividing the net profit attributable to the equity holders of the Company by the
weighted average number of equity shares outstanding during the period. Diluted earnings per equity share is computed by dividing
the net profit attributable to the equity holders of the Company by the weighted average number of equity shares considered for
deriving basic earnings per equity share and also, the weighted average number of equity shares that could have been issued upon
conversion of all dilutive potential equity shares. The dilutive potential equity shares are adjusted for the proceeds receivable had the
equity shares been actually issued at fair value (i.e. the average market value of the outstanding equity shares). Dilutive potential
equity shares are deemed converted as of the beginning of the period, unless issued at a later date. Dilutive potential equity shares are
determined independently for each period presented.

(l) Cash flow statement

Cash flows are reported using the indirect method, whereby net profit before tax is adjusted for the effects oftransactions ofa non-cash
nature and any deferrals or accruals ofpast or future cash receipts or payments. The cash flows from operating, investing and financing
activities of the Company are segregated based on the available information.

(m) Cash and cash equivalents

Cash and cash equivalents in the Balance Sheet comprise cash at banks and on hand and short-term deposits with an original maturity
of three months or less, which are subject to insignificant risk of changes in value.

26 The Company has along with certain other professional services firms and companies in 9 (Nine) other countries, promoted a company limited by guarantee in the
U.K. with the name BTG Global Advisory Ltd. (BTGA) which is a non-practicing umbrella entity, to (i) promote professional services of the members, (ii) promote
cross referrals of international work, and (iii) creating a framework for progressingjoint pitching opportunities. The Company has nominated one of its Directors of a
wholly owned subsidiary as a director on the Board of Directors of BTGA. The Company’s guarantee is UK Pound 1.

27 As per Indian Accounting Standard-110 on "Consolidated Financial Statements" and Indian Accounting Standard-28 on "Investments in Associates in Consolidated
Financial Statements" issued by the Ministry of Corporate Affairs, Government of India, the Company has presented consolidated financial statements separately.

28 In line with the provisions of Ind AS-108 ‘Operating Segments’ as notified under the Companies (Ind AS) Rules, 2015, and as provided in section 133 of the
Companies Act, 2013, the operations of the Company fall under the head “providing consultancy and advisory services”, which is considered to be the only reportable
segment by the management. Pursuant to change in Object Clause of the Company, the activities of the Company are services in the nature of advisory in matters
related to Insolvency and Bankruptcy. The spread of COVID-19 Pandemic has had an effect on operations of the Company. The Company is in process of making an
application to Insolvency Bankruptcy Board of India for recognition as an Insolvency Professional Entity.

29 Dividend in respect of Cumulative Non-Convertible Redeemable Preference shares has not been provided in the Statement of Profit and Loss during the year due to
negative accumulated profits. The Preference Shares of Rs. 2,05,00,000, comprising 2,05,000 7% Cumulative Non-Convertible Redeemable Preference shares of Rs.
100 each are due for redemption on January 14, 2026.

The holder of preference shares has waived its right to receive dividend.

37 Financial risk management

i) Financial instrument by category

a) Investment in equity shares of subsidiaries, associates and joint venture are measured in accordance with Ind AS 27, “Consolidated and
Separate Financial Statements” and investment in equity shares of other entity is measured in accordance with Ind AS 103 ''Financial
Instruments'' issued by the “Ministry of Corporate Affairs”, Government of India.

b) For amortised cost instruments, carrying value represents the best estimate of fair value except investment in other debentures.

ii) Risk management

The Company’s activities expose it to market risk, liquidity risk and credit risk. The Company’s Board of Directors has overall responsibility
for the establishment and oversight of the Company’s risk management framework. This note explains the sources of risk which the entity is
exposed to and how the entity manages those risks.

A) Credit risk

Credit risk is the risk that a counterparty fails to discharge its obligation to the Company. The Company’s exposure to credit risk is
influenced mainly by cash and cash equivalents, trade receivables and financial assets measured at amortised cost. The Company
continuously monitors defaults of customers and other counterparties and incorporates this information into its credit risk controls. Credit
risk related to cash and cash equivalents and bank deposits is managed only by accepting highly rated banks and diversifying bank deposits.
Other financial assets measured at amortized cost includes loans to employees, security deposits and others. Credit risk related to these other
financial assets is managed by monitoring the recoverability of such amounts continuously, while at the same time internal control system in
place ensures the amounts are within defined limits.

Credit risk management: The Company assesses and manages credit risk of financial assets based on following categories arrived on the
basis of assumptions, inputs and factors specific to the class of financial assets.

a) Low credit risk

b) Moderate credit risk

c) High credit risk

Credit risk exposures: The Company’s trade receivables does not have any expected credit loss as they are generally within the credit
period. In case of non recoverability in extreme cases, the Company, accordingly, provides for the same in its books of account instead of
writing it off permanently.

B) Liquidity risk

Prudent liquidity risk management implies maintaining sufficient cash and marketable securities and the availability of funding through an
adequate amount of committed credit facilities to meet obligations when due. Due to the nature of the business, the Company maintains
adequate liquidity for meeting its obligations by monitoring the Company’s liquidity position and cash and cash equivalents on the basis of
expected cash flows from the operations.

C) Market risk

Market risk is the risk of changes in the market prices on account of foreign exchange rates, interest rates and Commodity prices, which shall
affect the Company’s income or the value of its holdings of its financial instruments. The objective of market risk management is to manage
and control market risk exposure within acceptable parameters, while optimising the returns.
a) Currency risk

The Company undertakes transactions denominated in foreign currencies, which are subject to the risk of exchange rate fluctuations.
Financial assets and liabilities denominated in foreign currency, except the Company’s net investments in foreign operations (with a
functional currency other than Indian Rupee), are subject to reinstatement risks.

b) Interest risk

i) Assets: The Company’s fixed deposits are carried at fixed rate and interest rate on loan given to subsidiary company is also fixed.
Therefore, they are not subject to interest rate risk as defined in Ind AS 107 issued by “the Ministry of Corporate Affairs, Government of
India" since neither the carrying amount nor the future cash flows will fluctuate because of a change in market interest rates.

ii) Liabilities: The Company does not have any borrowings from the market and therefore, it is not subject to interest rate risk.

39 The Company has presented its financial statements in lakhs and figures have been rounded off to the nearest two decimal after lakh.

40 Figures in bracket represents previous year figures, unless otherwise indicated.

41 Figures of the previous year have been regrouped/recast, wherever necessary, to confirm to current period''s presentation.

The accompanying notes are an integral part of the financial statements.

As per our report of even date.

For DHANA & Associates

Chartered Accountants Sajeve Bhushan Deora Gyaneshwar Sahai

Firm Registration No. 0510525C Director Director

DIN: 00003305 DIN: 00657315

Nitin Kumar Lohia
Partner

Membership No. 508528 Vartika Jain Anil Kumar Tiwari Pinku Kumar Singh

Date: 30.05.2025 Company Secretary Chief Executive Officer Chief Financial Officer

New Delhi Membership No. A70782 PAN:AFXPT0882R PAN: HSQPS7526Q

---

Mar 31, 2024

Data Not Good

---

Mar 31, 2015

1. SHARE CAPITAL

a) Terms/rights attached to equity shares

The Company has only one class of equity share having a par value of Re. 1 per share. Each shareholder of equity shares is entitled to one vote per share. The Company declares and pays dividend proposed by the Board of Directors is subject to the approval of the shareholders in the ensuing 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) Terms of redemption of CNCRPS

The Company has one class of CNCRPS carrying cumulative dividend of 7% per annum. The dividend proposed by the Board of Directors is subject to the approval of the shareholders at the ensuing Annual General Meeting. Each holder of CNCRPS is entitled to one vote per share only on resolutions placed before the Company which directly affect the rights attached to CNCRPS.

The CNCRPS are redeemable in one or more tranches at any time at the option of shareholders. However, the preference shareholders shall subject to notice of 90 days be entitled to put part or whole of the shares for redemption and in the event of exercise of put option, extended to September 30, 2016, by the shareholders, no dividend shall be payable.

c) Number of equity shares held by holding company

2,50,41,000 (2,50,41,000) equity shares being 69.27% (69.27%) of total equity shares of the Company are held by Deora Associates Pvt. Ltd., the holding company.

2. In accordance with the Accounting Standard 15 (Revised) (AS15) on "Employee Benefits" issued by the Institute of Chartered Accountants of India, the Company has recognized its liability towards defined benefit plans being gratuity liability of Rs. 84,644 (Rs. 37,712).

(a) The fair value of plan assets is Nil since employee benefit plans are wholly unfunded as on March 31, 2015.

(b) Discount rate: The rate used to discount post employment benefit obligations (both funded and unfunded) should be determined by reference to market yields at the balance sheet date on government bonds.

(c) Rate of return on plan assets: The liability is not funded and rate of return on plan assets is not relevant to this Report.

(d) Salary increase: Salary increase should take into account inflation, seniority, promotion and other relevant factors such as supply and demand in the employment market.

(e) The employees are assumed to retire at the age of 58 years.

3. BSE has accorded an In-Principle Approval for listing of equity shares of the Company and the Company is completing the requirements and formalities in respect thereof.

4. The Company and certain other overseas professional organisations engaged in near like services are promoting a non- practicing, International umbrella entity asa Private Company Limited by Guarantee, in England and Wales to, (i) promote professional services of the members, (ii) promote cross referrals of international work, and (iii) creating a frame work for progressing joint pitching opportunities. The Company has nominated its Director to be a direct or on the Board of Directors of the proposed company. The Company's guarantee will be UK Pound 1.

5. The Company had initiated arbitration proceedings against its clients in accordance with the rules and regulations of the National Stock Exchange of India Limited in respect of trades conducted by the Company for such client sat trading counter of the aforesaid stock exchange. The learned Arbitrators issued awards short of the claimed amounts by Rs. 22.10 lacs (Rs. 22.10 lacs) (excluding interest demanded by the Company). The Company's appeals are pending before the Courts.

6. As per Accounting Standard-21 on "Consolidated Financial Statement" and Accounting Standard-23 on "Accounting for Investments in Associates in Consolidated Financial Statements" issued by the Chartered Accountants of India, the Company has presented consolidated financial statements separately.

7. The Company's equity shares were listed on Delhi Stock Exchange Ltd. and Jaipur Stock Exchange Ltd. The Securities Exchange Board of India (SEBI) had withdrawn recognition of Delhi Stock Exchange Ltd. on November 19,2014 and allowed Jaipur Stock Exchange Ltd. to Exit as a Stock Exchange on M arch 23, 2015, in terms of Clause 8 of the Exit Circular, 2012, and the equity shares of the Company are not listed on these stock exchanges. The Company is informed that 2 (two) stock exchanges whereat the equity shares of the Company are listed, i.e., Madras Stock Exchange Ltd. and Ahmadabad Stock Exchange Ltd., have applied to SEBI to Exit under the aforesaid Exit scheme and the equity shares of the Company would no longer be listed on those exchanges after the Exit is allowed to the said exchanges.

8. The Company deals only in one segment, Consulting and Advisory Services, hence, no separate information for segment- wise disclosure is required under Accounting Standard - 17 "Segment Reporting", issued by the Institute of Chartered Accountants of India.

9. Related Party Disclosures:

Pursuant to Accounting Standard (AS-18)"Related Party Disclosures" issued by Institute of Chartered Accountants of

India following parties are to be treated as related parties:

a) Name of related parties and description of relationship

Holding company Subsidiary companies

Deora Associates Pvt. Ltd. RAAS e Solutions Pvt. Ltd.

Green Infra Profiles Pvt.Ltd.

Associate companies

KW Publishers Pvt. Ltd.

Sun Links Ltd.

Greenway Advisors Pvt. Ltd.

Key management personnel

Brijinder Bhushan Deora Chairman & Director

Rajiv Jaiswal Managing Director

Sajeve Deora Director

Suresh Chander Kapur Director

Sandeep Chandra Director

Arun Deora Director

Ambarish Chatterjee# Director

Alka Jain* Director

Pulkit Deora** Relative of key management personnel

Ravi Mathur*** Chief Financial Officer

Shivani Arora Company Secretary



# Resigned on March 17,2015 ** Appointed on November 8,2014

* Appointed on March 17, 2015 *** Appointed on July 9, 2014

Note: The above parties have been identified by the management.

10. Pursuant to applicable provisions of the Companies Act, 2013, effective April 1, 2014, the Company has revised the rate of depreciation on fixed assets in accordance with the useful life of the assets specified in Part 'C' of Schedule II of the said Act. Accordingly, the charge of depreciation for the year ended March 31, 2015 is higher by Rs. 2,81,564 (Nil).

11. In the opinion of the Board,the assets, other than fixed assets and non current investments, do have a value on realisation in the ordinary course of business atleast equal to the amount at which they are stated.

12. Figures and words in brackets pertain to previous year unless otherwise specified.

13. Figures have been rounded off to the nearest Rupee.

14. Figures of the previous year have been regrouped/recast, wherever necessary, to confirm to current years presentation.

---

Mar 31, 2014

1. SHARE CAPITAL

a) Terms/rights attached to equity shares

The Company has only one class of equity share having a par value of Re. 1 per share. Each shareholder of equity shares is entitled to one vote per share. The Company declares and pays dividend proposed by the Board of Directors is subject to the approval of the shareholders in the ensuing 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) Terms of redemption of CNCRPS

The Company has one class of CNCRPS carrying cumulative dividend of 7% per annum. The dividend proposed by the Board of Directors is subject to the approval of the shareholders at the ensuing Annual General Meeting. Each holder of CNCRPS is entitled to one vote per share only on resolutions placed before the Company which directly affect the rights attached to CNCRPS.

The CNCRPS are redeemable in one or more tranches at the option of the Company within a period of 7 years from the date of allotment. However, the preference shareholder shall subject to notice of 90 days be entitled to put part or whole of the shares for redemption during the lock-in-period of 2 years from the date of issue of said shares and in the event of exercise of put option by the shareholders, no dividend shall be payable.

c) Number of equity shares held by holding company

2,50,41,000 (2,50,41,000) equity shares being 69.27% (69.27%) of total equity shares of the Company are held by Deora Associates Pvt. Ltd., the holding company.

2. In accordance with the Accounting Standard 15 (Revised) (AS-15) on "Employee Benefits" issued by the Institute of Chartered Accountants of India, the Company has recognized its liability towards defined benefit plans being gratuity liability of Rs. 37,712 (Rs. 81,513).

(a) Discount rate: The rate used to discount post-employment benefit obligations (both funded and unfunded) should be determined by reference to market yields at the balance sheet date on government bonds.

(b) Rate of return on plan assets: The liability is not funded and rate of return on plan assets is not relevant to this Report.

(c) Salary increase: Salary increase should take into account inflation, seniority, promotion and other relevant factors such as supply and demand in the employment market.

(d) The employees are assumed to retire at the age of 58 years.

3. The Company had initiated arbitration proceedings against its clients in accordance with the rules and regulations of the National Stock Exchange of India Limited in respect of trades conducted by the Company for such clients at trading counter of the aforesaid stock exchange. The learned Arbitrators issued awards short of the claimed amounts by Rs. 22.10 lacs (Rs.22.10 lacs) (excluding interest demanded by the Company). The Company's appeals are pending before the Courts.

4. As per Accounting Standard -21 on "Consolidated Financial Statement" and Accounting Standard -23 on "Accounting for Investments in Associates in Consolidated Financial Statements" issued by the Chartered Accountants of India, the Company has presented consolidated financial statements separately.

5. The Company deals only in one segment, Consulting and Advisory Services, hence, no separate information for segment- wise disclosure is required under Accounting Standard - 17 "Segment Reporting", issued by the Institute of Chartered Accountants of India.

6. Additional information pursuant to provisions of Para 5 (viii) of Part II of Schedule VI of the Companies Act, 1956:

7. Related Party Disclosures:

Pursuant to Accounting Standard (AS-18) - "Related Party Disclosures" issued by Institute of Chartered Accountants of India following parties are to be treated as related parties:

a) Name of related parties and description of relationship

Holding company Subsidiary companies

Deora Associates Pvt. Ltd. RAAS e Solutions Pvt. Ltd.

Green Infra Profiles Pvt. Ltd.

Associate companies

KW Publishers Pvt. Ltd.

Sun Links Ltd.

Greenway Advisors Pvt. Ltd.

Key management personnel

B. B. Deora Chairman & Director

Rajiv Jaiswal Managing Director

Sajeve Deora Director

Suresh Chander Kapur Director

Sandeep Chandra Director

Arun Deora Director

Ambarish Chatterjee Director

Note: The above parties have been identified by the management.

8. In the opinion of the Board, the assets, other than fixed assets and non-current investments, do have a value on realisation in the ordinary course of business at least equal to the amount at which they are stated.

9. Figures and words in brackets pertain to previous year unless otherwise specified.

10. Figures have been rounded off to the nearest Rupee.

11. Figures of the previous year have been regrouped/recast, wherever necessary, to confirm to current years presentation.

---

Mar 31, 2013

1. SHARE CAPITAL

a) Terms/rights attached to equity share

The Company has only one class of equity share having a par value of Re. 1 per share. Each shareholder of equity shares is entitled to one vote per share. The Company declares and pays dividend proposed by the Board of Directors is subject to the approval of the shareholders in the ensuing 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) Terms of redemption of CNCRPS

The Company has one class of CNCRPS carrying cumulative dividend of 7% per annum. The dividend proposed by the Board of Directors is subject to the approval of the shareholders at the ensuing Annual General Meeting. Each holder of CNCRPS is entitled to one vote per share only on resolutions placed before the Company which directly affect the rights attached to CNCRPS.

The CNCRPS are redeemable in one or more tranches at the option of the Company within a period of 7 years from the date of allotment. However, the preference shareholder shall subject to notice of 90 days be entitled to put part or whole of the shares for redemption during the lock-in-period of 2 years from the date of issue of said shares and in the event of exercise of put option by the shareholders, no dividend shall be payable.

c) Number of equity shares held by holding company

2,50,41,000 (2,50,41,000) equity shares being 69.27% (69.27%) of total equity shares of the Company are held by Deora Associates Pvt. Ltd., the holding company.

2. Disclosure in respect of Loans and Advances in the nature of loans pursuant to clause 32 of the Listing Agreement:

a) I) Loan of Rs. 68,50,000 (Rs. 68,50,000) is recoverable from subsidiary company, Green Infra Profiles Pvt. Ltd. The maximum amount outstanding during the year was Rs. 68,50,000 (Rs. 1,44,20,508).

ii) Loan of Rs. 1,02,25,000 (Rs. 1,02,25,000) is recoverable from an associate company, Greenway Advisors Pvt. Ltd. The maximum amount outstanding during the year was Rs. 1,02,25,000 (Rs. 1,04,50,000).

iii) Advance of Rs. 15,567 (Rs. 15,468) is recoverable from an associate company, Sunlinks Limited. The maximum amount outstanding during the year was Rs. 17,181 (Rs. 15,468).

b) No loans have been given (other than loans to employees), wherein there is no repayment schedule or repayment is beyond seven years; and

c) No investment has been made by the loanee in the shares of parent company.

3. The Company had initiated arbitration proceedings against its clients in accordance with the rules and regulations of the National Stock Exchange of India Limited in respect of trades conducted by the Company for such clients at trading counter of the aforesaid stock exchange. The learned Arbitrators issued awards short of the claimed amounts by Rs. 22.10 lacs (Rs.22.10 lacs) (excluding interest demanded by the Company). The Company's appeals are pending before the Courts.

4. As per Accounting Standard -21 on "Consolidated Financial Statement" and Accounting Standard -23 on "Accounting for Investments in Associates in Consolidated Financial Statements" issued by the Institute of Chartered Accountants of India, the Company has presented consolidated financial statements separately.

4. The Company deals only in one segment, Consulting and Advisory Services, hence, no separate information for segment- wise disclosure is required under Accounting Standard - 17 "Segment Reporting", issued by the Institute of Chartered Accountants of India.

5. Related Party Disclosures:

Pursuant to Accounting Standard (AS18) - "Related Party Disclosure" issued by Institute of Chartered Accountants of India following parties are to be treated as related parties:

a) Name of related parties and description of relationship

Holding company Subsidiary companies

Deora Associates Pvt. Ltd. RAAS e Solutions Pvt. Ltd.

Green Infra Profiles Pvt. Ltd.

Associate companies

KW Publishers Pvt. Ltd.

Sun Links Ltd.

Greenway Advisors Pvt. Ltd.

Key management personnel

B. B. Deora Chairman & Director

Sajeve Deora Director

Arun Deora Director

Ambarish Chatterjee Director

Suresh Chander Kapur Director

Sandeep Chandra Director

Rajiv Jaiswal* Managing Director

Harinder Kumar Chadha# Director

* Appointed on April 13,2012

# Held office upto April 12, 2012

Note: The above parties have been identified by the management

6. A notice under section 148 of Income tax Act, 1961, dated March 26, 2013, was received on April 1, 2013 from Income tax Department, New Delhi, for re-assessment of the income of the Company for the assessment year 2006-07.The said notice does not state any reason for which the assessment has been reopened.

7. In the opinion of the Board, the assets, other than fixed assets and non-current investments, do have a value on realisation in the ordinary course of business at least equal to the amount at which they are stated.

8. Figures and words in brackets pertain to previous year unless otherwise specified.

9. Figures have been rounded off to the nearest Rupee.

10. Figures of the previous year have been regrouped/recast, wherever necessary, to confirm to current years presentation.