Notes:

The Company’s operations are principally based in Ind ia only. Hence secon da ry segment reporting for gegraphic segm en t i s not applicable The Company is currently focused on two business groups: Infrastructure/Realty and Petroleum. However there is no revenue generated from the infrastructure/ realty segment during the year.

The Company’s organisational structure and governance processes are designed to support effective management of multiple businesses while retaining focus on each one of them.

1.01 Disclosures required under Section 22 of the Micro, Small and Medium Enterprises Development Act, 2006

Micro, Small and Medium Enterprises in terms of section 22 of the Micro, Small and Medium Enterprises Development Act, 2006 have been determined to the extent such parties have been identified on the basis of information available with the Company and relied upon by the auditors. Since the relevant information is not readily available, no disclosures have been made in the accounts. However, in the opinion of the management, the impact of interest, if any, that may be payable in accordance with the provision of this Act is not expected to be material.

1.02 The balances appearing under long term borrowings, trade payables, loans and advances, and banks are subject to confirmation and reconciliation and consequential adjustment, if any, will be accounted for in the year of confirmation and/or reconciliation.

1.03 The company has entered into an Memorandum of Understanding dated 16th November, 2016 with M/s Sanjay Builders (a partnership firm in which directors of the company are interested as partners) wherein the company is awarded the contract of construction of the property at 48, Mia Mohamad Chotani Road, Mahim (West), Mumbai - 400 016. Expenses incurred during the year on account of the said construction has been carried forward as work in progress in the financial statement.

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

1.05 Since the Company recognises gratuity and leave salary expense on payment basis no liability for the same has been ascertained and provided in the accounts. Hence, the company has not complied with the provisions of AS-15 “Accounting for Retirement Benefit”.

1.06 Previous year’s figures have been regrouped/reclassified wherever necessary to correspond with the current period’s classification/disclosure.