1 Background & General Information

Manas Properties Limited, formerly known as Manas Properties Private Limited (“the Company”), got listed at BSE SIME platform on 30 March 2017, is domiciled in Mumbai, India. The registered office of Company is 10th Floor, Dev Plaza, Opp. Andheri Fire Station, S.V. Road, Andheri (West), Mumbai, Maharashtra, India. The Company was incorporated on 02 November 2004. The Company is engaged in the business of Construction, Redevelopment and Leasing of Properties.

a. Terms Rights attached to equity shares:

The Company has only one class of equity shares of face value of Rs 10 per share, Each holder of equity shares is entitled to one vote per equity share. A member shall not have any right to vote whilst any call or other sum shall be due and payable to the Company in respect of any of the shares of such member. Ali equity shares of the Company rank pari passu in all respects including the right to dividend. The dividend is recommended by the Board of Directors and declared by the members a! the ensuing Annua! general Meeting. The Board of Directors have a right to deduct from the dividend payable to any member any sum due from him to the Company.

The Shareholders have all other rights as available to Equity Shareholders as per the provisions of the Companies Act, 2013, read together with the Memorandum of Association and Articles of Association ofiheCompany.as applicable.

2 In the opinion of the Board, the current assets, loans and advances have the value at which they are stated in the balance sheet, if realised in the ordinary course of business.

3 In the opinion of the Board, the Company has made adequate provisions for all the known liabilities and the same is not in excess of the amounts considered as reasonably necessary.

4 Micro, Small and Medium Enterprises Development Act. 2006:

Under the Micro, Small and Medium Enterprises Development Act, 200S which came into force from 2nd October, 2006, certain disclosure are required to be made relating to Micro, Small and Medium Enterprises. On the basis of the information and records available with the management, there are no parties registered as Micro, Small and Medium Enterprises with whom the Company has carried out any transactions.

5 Segment Reporting:

The Company is operating in the single segment of real estate broking and has income within India. Therefore, the Company has only one reportable business segment, which is real estate brokers and only one reportable geographical segment. Accordingly, these financial statements are reflective of the information required by the Accounting Standard 17, for the real estate and property development segment.

6 Related Party Transaction:

Disclosures as required by Accounting Standard (AS) - 18 “Related Party Disclosure” are as under:

7 Details of Leasing arrangements :

The Company has not taken any asset on lease during the current or previous year.

8 Duririg the last year, ihe Company had completed the Initial Public Offer (IPO) and raised a total capital of Rs. 540.00 lakhs comprising a fresh issue of 150,000 Equity Shares of face value of Rs. 10/- each for cash at a premium of Rs. 350/- Per Share. The equity shares of the company were listed on BSE SME Platform effective from 30th March, 2017. The proceeds from IPO has been fully deployed for the purpose of the objects as stated in the prospectus dated 08th March, 2017

9 The Company, consequent upon dispute with the party, has not recognised lease rental in absence of certainty of receipt. Further, the Company is exploring various options, including legal course, to recover ihe dues from the Party.

10 Prior Year Comparatives:

Previous year’s figures are regrouped, rearranged or reclassified wherever considered necessary, to confirm to the current year’s classification.