In the opinion of management there are no contingent liabilities for the year.

2. In the opinion of the management, Current Assets, Deposits, Loans and advances have value equal to the amounts shown in the Balance Sheet. The provision for depreciation and all the liabilities is not in excess of the amount reasonably necessary.

3. The foreign currency rate fluctuation balance as on 31/03/2015 of Rs. 53,56,593/- is credited to the Profit & Loss Account is in accordance with AS 11(Revised) The Effects of Changes in Foreign Exchange Rates.

4. During the year The Company has debited to Profit and Loss A/c. as Bad debts of Rs. 1,07,00,000/-.

5. During the year, the company has made payments of ESIC for the period April - June 2014.

6. Service tax liability for the year is still partly unpaid.

7. Rate of Interest on ICD given to Supama Financial Services, RSM Exim and Oasis Heights Developers LLP is charged @ 12% P.A.

8. As per Accounting Standard (AS) 18, 'Related Party Disclosures' prescribed under the Accounting Standard Rules, the disclosures of the details of the related parties and the transactions entered with them are given below:

I - List of Related Parties

Sr No. Nature Name of the person

1 Key Management Personnel Tushar Suresh Shah

2 Key Management Personnel Ketan Babulal Shah

3 Relatives of KMP Namita T Shah

4 Relatives of KMP Tanay T Shah

5 Relatives of KMP Rajeshri Ketan shah

6 Relatives of KMP Ketan Babulal Shah HUF

7 Relatives of KMP Tushar Suresh Shah HUF

8 Relatives of KMP Madhu Suresh Shah

9 Others (Independent Director) Mr VinodKumar G Bapna

10 Others (Independent Director) Mr Nilesh Dharia

9. Segment Reporting

The Company is engaged in two business segments, one is to provide brokerage services to its clients in the capital markets within India from which revenue is Rs. 89,76,550/- and other is trading of shares from which loss is Rs. (1,09,774/-)

10. Principal of Consolidation:

a) The consolidated financial statements relate to KBS India Limited, the holding company and its foreign subsidiary. The consolidation of accounts of the company with its subsidiary has been prepared in accordance with the Accounting Standard (AS) 21 'Consolidated financial Statements' taking into considerations the stipulations mentioned in Accounting Standard (AS) 11 'The Effects of Changes in Foreign Exchange Rates'. The financial statements of the parent and its Foreign Subsidiary are combined on a line by line basis and intra group balances, intra group transactions and unrealized profits or losses are fully eliminated.

b) Foreign Currency Translation Gain of Rs. 53,56,593/- is been added to the Profit & Loss Account.

c) As it is a 100% Foreign Subsidiary the Minority Interest is NIL

11. Previous year's figures have been regrouped wherever necessary to confirm the classification adopted in the current year.