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Note As at

March 31, 2014

EQUITY & LIABILITIES

Shareholders' Funds

Share Capital 2.1 3,000,000Reserves and Surplus 2.2 564,320

3,564,320

Non-current Liabilities

Long-term borrowings -

Deferred tax liabilities (Net) 2.3 3,733

Long-term provisions 2.4 -

3,733

Current Liabilities

Short-term borrowings -

Trade payables 2.6 77,500

Other current liabilites 2.7 16,275,018

Short-term provisions 2.8 -

16,352,518

Total 19,920,570

ASSETS

Non-Current Assets

Fixed Assets 2.9

Tangible Assets 75,260

Intangbile Assets

Good Will (intellectual Property) -

Non-current investments 2.10 -

Long-term loans and advances 2.11 6,353,650

6,428,910

Current Assets Inventories 2.12 -

Trade Receivables 2.13 6,512,249

Cash and Cash equivalents 2.14 3,304,789

Short-term loans and advances 2.15 3,674,622

13,491,660

Total 19,920,570

Significant Accounting Policies and

Notes to Accounts 1 & 2

M/S. VIJAYA PRAGATHI CHITS PVT LTD.

Director

ANDHRA PRADESH- 516115

For and on behalf of the Board of Directors

VIJAYA PRAGATHI CHITS PRIVATE LIMITED

PROVISIONAL BALANCE SHEET AS AT MARCH 31, 2014

D.NO. 4/22,FIRST FLOOR

OPP. MARUTHI PRASANNA KALYANA MANDAPAM MAIN ROAD

RAJAMPET , KADAPA

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Note

`

INCOME

Income from Operations Less : Excise Duty & Cess

Total Revenue

Other Income 2.16

TOTAL

EXPENSES

Cost of materials consumed 2.17

Decrease/(increase) in inventories 2.18

Employee benefits expense 2.19

Administration & Other Expenses 2.20

Selling & Distribution expenses 2.21

Financial Expenses

Depreciation 2.9

TOTAL

Profit/(loss) before tax and prior period items

Prior period Adjustments (net)

Profit/(Loss) before Tax

Tax expenses

- Current tax

- Deferred Tax Liability/(Asset)Profit/(Loss) after Tax

Significant Accounting Policies and Note 1 & 2

Director

2,357,350.00

VIJAYA PRAGATHI CHITS PRIVATE LIMITED

PROVISIONAL STATEMENT OF PROFIT & LOSS FOR THE PERIOD ENDED MARCH 31, 2014

Year Ended

March 31, 2014

2,357,350.00

820,800.00

3,178,150.00

-

-

-

183,524.00

2,404,234.00

-

-

22,339.68

2,610,097.68

M/S. VIJAYA PRAGATHI CHITS PVT LTD.

For and on behalf of the Board of Directors

568,052.32

568,052.32

-

3,732.82

-

564,319.50

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Notes to Accounts As at

March 31, 2014

` `

2.1 Share Capital

Authorised:

3,00,000Equity Shares of Rs 10/- each 3,000,000

3,000,000

Issued, Subscribed and Paid up:

3,00,000 Equity Shares of Paid up 3,000,000

Share Apllication Money -

3,000,000

Name of the shareholder

No of sh %

2.2 Reserves & Surplus

General Reserve

As per last Balance Sheet -

Add: Amount transferred from statement of 564,320

564,320

2.3 Deferred Tax liability (net) 3,733

3,733

2.5 Long-term Provisions

-

2.6 Current liabilities

Trade Payables

sundry creditors 77,500

77,500

2.7 Other Current liabilities

Current liabilities 16,177,240

Secured Loans -Unsecured Loans -

Provision for tax -

Statutory Liabilities 97,778

16,275,018

As at March 31, 2014

VIJAYA PRAGATHI CHITS PRIVATE LIMITED

a. Equity shareholders holding more than 5% of equity shares along with the

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Notes to Accounts As at

March 31, 2014

` `

VIJAYA PRAGATHI CHITS PRIVATE LIMITED

2.8 Short-term Provisions

Provision For Expenses -

-

2.10 Non-current Investments (Unquoted and at cost)

-

2.11 Long-term Loans & Advances

Unsecured, considered good

Fixed deposits 5,400,000

Foreman subscription 953,650

Pre operative Exp -

write off for the year -

Misellaneous Exp not written off -6,353,650

2.12 Inventories -

-

2.13 Trade Receivables

Debts outstanding for a period exceeding six months

Secured & considered good 6,512,249

Unsecured & considered doubtful -

6,512,249

Less: Provision for doubtful debts -

6,512,249

Secured & considered goodUnsecured & considered doubtful -

6,512,249

2.14 Cash and Cash equivalents

Cash on hand 2,892,486

Petty cash 17,834

Balances with scheduled banks:

in current accounts 394,469

in deposit accounts -

3,304,789

2.15 Short-term loans & advancesUnsecured, considered good 3,637,622

TDS Received -

CENVAT Credit -

Advances 36,000

Other current assets 1,000

3,674,622

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Period ended

March 31, 2014

2.16 Other Income

Interest Received- Fixed Deposits with banks -

Miscellaneous Income 820,800

820,800

2.17 Cost of materials consumed -

-

2.18 Decrease/(Increase) in inventories -

-

2.20 Employee benefits expense

Salaries 183,524

Staff Welfare

Employer PF Contribution

Employer E S I Contribution

Bonus -

183,524

VIJAYA PRAGATHI CHITS PRIVATE LIMITED

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Period ended

March 31, 2014

VIJAYA PRAGATHI CHITS PRIVATE LIMITED

2.21 Administration and other expenses

Agent Commission 1,668,300

Special allowances 42,196

Agents Conveyance -

Audit Fees 1,070

Chit Regd Expenses 15,590

Electricity Charges 16,972

Advertisements 2,700

Office Maintenance 36,116

Office Rent 103,500

Postage&telegram 3,320

Misc Expenses 22,006

Marketing Expenses 34,977

Printing & Stationery 81,685

Stamps & Miscellaneous Exp 38,980

Telephone Expenses 12,835

Travelling Expenses 18,840

Vehicle Maintenance 166,178

VDA 138,969

2,404,234

2.22 Selling & Distribution Expenses

Advertisement & Sales promotion expenses -

-

2.23 Tax expense

- Current tax -

Less: MAT Credit entitlement -- Deferred Tax 3,733

3,733

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PARTICULARS

AS AT 31-3-

2014

Rs.

SECURED LOANS

Vehicle Loan 20,825Kotak Mahendra -

TOTAL 20,825

Sundry Debtors

Sundry Debtors 6,512,249

TOTAL 6,512,249

Other Current AssetsDeposits

Rental Advance

Site Advance

BID Amount 3,637,622

Outstanding Subscription

Company Investment on own chits

3,637,622

Statutory Liabilites

TDS Received 12,960

Vat Input Credit -CENVAT Asset -

IT Payable

Penalty a/c -

sales tax -

service tax 97,778

Provident fund

Profeessional tax

Service Tax input Credit

TOTAL 97,778

Other Assets

Agent TDS .

Daily Collection a/c -

IT Payable -

P Tax -

Previous year P & L -

VIJAYA PRAGATHI CHITS PRIVATE LIMITED

Sub Notes AS ON 31-3-2014

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TOTAL -

CURRENT LIABILITITES

Bid Payable 5,965,000

Dividend Payable 3,260,000Liability on own Chits 5,035,000

Subscriptions Payable -

Foreman commission 1,810,000

Audit Fees Payable -

Penalty 14,240

Entraance fee 93,000

TOTAL 16,177,240

Sundry Creditors

Sundry Creditors 77,500

Total 77,500

Provision for IncomeTax -

Deffered Tax Liability -

Provision for FBT -

TOTAL -

Total Current Liabilities 16,177,240

FINANCIAL EXPENDITURE

Bank Charges -

Interest on Car Loan -

TOTAL -

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Note.9. FIXED ASSETS

S.No PARTICULARS RATE

As At Additions Deduc Cost as on Depn.upto On OB On TOTA

01.04.2013 31.3.2014 01.04.13 Additions 31.3.20

1 Computers 40.00% - 48,000 - 48,000 - - 19,200 19,

2 Furniture & Fixtures 6.33% - 36,400 - 36,400 - - 2,304 2,

3 Office Equipment 6.33% - 13,200 - 13,200 - - 836

Total - 97,600 - 97,600 - - 22,340 22,

VIJAYA PRAGATHI CHITS PRIVATE LIMITED

Financial Year 2012-13

GROSS BLOCK DEPRECIATION

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SL. W.D.V W.D

NO. PARTICULARS AS ON BEFORE AFTER GROSS AS ON RATE FOR THE AS O

1/4/2013 SEP 30 SEP 30 BLOCK 31-03-2013 (%) YEAR 31-03-2

1 Computers - 48,000 - 48,000 - 60% 28,800 19

2 Furniture & Fixtures - 36,400 - 36,400 10% 3,640 32

3 Office Equipment - 13,200 - 13,200 15% 1,980 11

TOTAL - 97,600 - 97,600 - 34,420 63,

Dep AS Per Com Act 22,340

402,267,058

Dep AS Per IT Act 34,420

Difference 12,080

DTL @30.9% 3,733

DEPRECIATION SCHEDULE AS PER INCOME TAX FOR THE YEAR 2013-14

DEPRECIATION AS PER INCOME TAX

ADDITIONS: DEPRECIATION

VIJAYA PRAGATHI CHITS PRIVATE LIMITED

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Note.9. FIXED ASSETS

S.No PARTICULARS RATE

As At

Additions

During theyear

Deductio

ns

During

the year

Cost as on

31.03.13

Depn.upto

01.04.2014 On OB

On

Additions TOTAL 3

01.04.2013 31.3.2013 01.04.13 Additions 31.3.2013 3

1 A C 13.91% 13.91% 86,150 275,600 - 361,750 39,085 6,547 - 45,632

2 Computers 40% 40.00% 1,684,112 490,852 - 2,174,964 1,042,432 256,672 - 1,299,104

3 Computer Equipements 40% 40.00% 25,265 40,454 - 65,719 3,210 8,822 - 12,032

4 Furniture & Fixtures 18.1% 18.10% 577,897 630,000 - 1,207,897 153,113 76,886 - 229,999

5 Carpet 18.1% 18.10% 164,594 - - 164,594 11,182 27,768 - 38,950

6 Electrical equipements 13.91 13.91% 62,000 38,214 - 100,214 378 8,572 - 8,950

7 EPABX 13.91% 13.91% 22,160 - - 22,160 11,885 1,429 - 13,314

8 Car Scorpio 13.91% 13.91% 1,007,730 - - 1,007,730 206,118 111,504 - 317,622

9 Printer -15% 15.00% 5,850 - - 5,850 154 854 - 1,008

10 Mobiles-40% 40.00% 9,100 - - 9,100 708 3,357 - 4,065

Total 3,644,858 1,475,120 - 5,119,978 1,468,265 502,411 - 1,970,676

A C 13.91%

3/31/2012 4/9/2011 - 357 13.91% 0

3/31/2012 3/1/2012 - 30 13.91% 0

3/31/2012 3/22/2012 - 9 13.91% 0

0 0

Computer Equipements 40%

3/31/2012 8/6/2011 - 238 40.00% 0

3/31/2012 12/21/2011 - 101 40.00% 03/31/2012 12/22/2011 - 100 40.00% 0

3/31/2012 1/19/2012 - 72 40.00% 0

3/31/2012 3/16/2012 - 15 40.00% 0

0 0

Computers 40%

3/31/2012 7/8/2011 - 267 40.00% 0

3/31/2012 8/6/2011 - 238 40.00% 0

3/31/2012 12/6/2011 - 116 40.00% 0

3/31/2012 12/7/2011 - 115 40.00% 0

3/31/2012 3/10/2012 - 21 40.00% 0

0 0

Electrical equipements 13.91%

3/31/2012 4/13/2011 - 353 13.91% 0

3/31/2012 5/25/2011 - 311 13.91% 03/31/2012 11/7/2011 - 145 13.91% 0

0 0

Furniture & Fixtures 18.1%

3/31/2012 5/3/2011 - 333 18.10% 0

3/31/2012 7/6/2011 - 269 18.10% 0

3/31/2012 7/25/2011 - 250 18.10% 0

3/31/2012 9/30/2011 - 183 18.10% 0

3/31/2012 12/1/2011 - 121 18.10% 0

3/31/2012 1/1/2012 - 90 18.10% 0

0 0

GROSS BLOCK DEPRECIATION

VIJAYA PRAGATHI CHITS PRIVATE LIMITED

Financial Year 2011-12

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2700 5400000 1251

1668300 953650 120800 5495000

1070 1000 2250300 93000

450 394469 1250 5035000

15590 2892486 23150 3260000

9593 34977 25550 470000

16972 13200 58350 2490

895 17834 11750

10120 6512249 97778

948 720036116 1810000

103500 12960

320 350

81685 70300

8380

42196

183524 16352518

18800 -13310

30600

12835

40

138969166178

2549781 16219865 2480651 16365828

2478150

2652883 -2501

103102

2587858

2587758

37977