1. In the opinion of the Board, current assets, loans and advances have a value on realization at least equal to the account at which they are stated in the books of accounts and provision for all known liabilities have been made, except as mentioned otherwise.

2. The Company is engaged in the business of Telecom System development and electronic hardware and software trading and other product and there is no separate reportable segment as per Accounting Standard (AS) 17 on segment reporting.

3. In accordance with the Accounting Standard (AS) 28 on “Impairment of Assets” issued by the Institute of Chartered Accountants of India, the company assesses potential generating of economic benefits from its business assets and is of the view that assets employed in continuing business are capable of generating adequate returns over their useful lives in the usual course of business. There is no indication to the contrary and accordingly the management is of the view that no provision is called for in the accounts for the vear.

4. In order to strength the financial position of the company and to support to fund flow position the Managing Director, Anil B Vedmehta have foregone his Managerial Remuneration for the FY 201415 and other directors have not taken any financial benefits including directors board sitting fees.

5. The balances of debtors, creditors, loans & advances are subject to confirmation.

6. The previous year’s figures are regrouped, rearranged or recast, wherever required, to make them comparable.