a) Contingent Liability and Capital Commitment: Nil

b) On the basis of the information to the extent received from 'enterprises' regarding their status under the 'Micro, Small & Medium Enterprises Development Act, 2006' there is no Micro, Small & Medium enterprise to which the Company owes dues, which are outstanding for more than 45 days during the year ended 31st March, 2015 and hence disclosure relating to amounts unpaid as at the yearend together with interest paid/payable as required under the said Act is not required.

c) Related Party Disclosure:

2. Key Managerial Personnel

Name of the related party

(i) Dhiren Kothary - Director

(ii) Suresh Vishwasrao - Director

(iii) Archana Tripathi - Company Secretary & Compliance Officer

3. Names of related parties where control exists i.e. Key Management personnel and Individual having significant influence

Name of the related party

(i) Quest Profin Advisor Private Limited

(ii) Quest Fin-Cap Limited

(iii) Quest (East India) Advisor Private Limited

(iv) Quest Finlease Private Limited

(v) Niyamak Consultancy Private Limited

(vi) Niyamak Advisor Private Limited

(vii) PNP developers Private Limited

(viii) Ricco International Private Limited

(ix) Yuroas Textiles Private Limited

4. Loans and Advances given aggregating to Rs. 95,00,000/- and Trade Payables are subject to reconciliation and confirmation. In the opinion of the management, these amounts are fully recoverable and hence no material difference is expected to arise at the time of settlement, requiring accounting effect in the financial statements of the current year.

5. Bank Statement and Balance Reconciliation for Bank of Saurashtra not available. However since there are no transactions in this bank during the year, the balance as shown in Books of Accounts is considered to be correct

6. There are certain Business Advances given to parties and by virtue of the nature of the advances, no interest provision is required. Further confirmations from all the parties are available as at 31st March,2015

7. The Company has positive net worth as on 31.03.2015 after adjustment of all accumulated losses. Based thereupon and considering profits generated in the previous year and positive future cash flow projections, the accounts have been prepared on a going concern basis.

8. Investment of Rs. 7,77,000 in Equity Shares of Quest Fin-Cap till 31/03/2014 is subject to valuation for provision for impairment of Asset. Accordingly, the impairment of Rs. 5,52,361/-is charged to Profit and loss account as per AS 28.

9. Effective from April 01, 2014, the Company has charged Depreciation based on the revised remaining useful life of the Assets as per the requirements of Schedule II of the Companies Act, 2013. Due to above, depreciation charge for the year ended 31st March, 2015 is decreased by Rs. 1,56,088/-.

10. Further, based on the transitional provisions as per Note 7(b) of Schedule II of Companies Act,2013 , an amount of Rs. 79,862/- ( Net of Deferred tax of Rs. 35,712) has been adjusted from Retained Earnings.

11. The previous year figures have been reclassified / regrouped / restated to conform to current year's classification.

12. The Company has based on the positive net worth as at the year end, profits generated in the previous year and positive future cash flow projections, prepared accounts on a going concern basis.