NOTES ON ACCOUNTS: -

1. Previous year's figures have been regrouped / reclassified wherever necessary to correspond with the current year's classification / disclosure.

2. In the Opinion of the Board of directors, the loans, advances and other current & non-current assets have a value on realization in the ordinary course of business, at least equal to the amounts of which these are stated and that the provisions for the known liabilities are adequate and not in excess of the amount reasonably necessary.

3. The outstanding balance at the yearend in respect of Sundry Creditors, Loans and Advances, Deposits and certain Bank Accounts are subject to confirmation / reconciliation from the respective parties and the same have been reckoned in these accounts as per the balances appearing in the books. Any further adjustments arising out of reconciliation will be accounted for as and when such reconciliation is completed. The company however does not expect any material effect in a particular year or in future years.

4. In the opinion of the Management, Current Assets, Loans & Advances have the value at which they are stated in the balance sheet if realized in the ordinary course of the business except the balance of "Suvikash Alloys And Steel Pvt Ltd, Bhadramaruti Concast Private Limited".

No Provision has been made as matter is under court proceedings.

5. In the opinion of the management there is no such events occurred after the date of Balance sheet, which needs disclosure in these accounts.

6. There were no employees at any time during the year drawing Rs.500000/- per month or more.

7. Contingent liabilities & Commitments not provided for in respect of:

8. Deferred Tax : In accordance with the Accounting Standard - 22 "Accounting for taxes on Income" issued by the Institute of Chartered Accountants of India, which has become mandatory from 1st April' 2002 for listed companies, the company has accounted for deferred tax during the year. Consequently, the cumulative net deferred tax liability of Rs. 8679711/- as on 31st March' 2018 has been recognized and adjusted from Statement of Profit & Loss.

The deferred tax liability/(asset) of the year amounting to Rs (19778146/-) has been charged in profit and loss a/c

9. Segment Wise Reporting Results:

Basis of Preparation

Business Segment-: Business segments of the company have been identified as distinguishable components that are engaged in a group of related product and that are subject to risks and returns different from other business segments. Accordingly Steel, Power, Real Estate & Fabrics have been identified as the business segments.

Geographical Segment: - The geographic segments identified as secondary segments are "Domestic Market" and "Export Market". Since there is no Export Market Revenue, the same has not been disclosed. The entire capital employed is within India.

10. Directors Disqualification

a. Shri Ravi Kumar Vaswani Managing Director of the company is disqualified under Section 164 of the Companies Act, 2013 with effect from 01/11/2016 to 31/10/2021 due to non-filing of annual accounts and annual return of Vaswani Ispat Limited, Vaswani Energy Limited and Vaswani Cement Limited for a period of three years and Strike off of Elite Buildhome Limited by ROC, Chhattisgarh. However, director has duly filed the annual accounts and annual returns of Vaswani Ispat Limited, Vaswani Energy Limited and Vaswani Cement Limited under CoDS scheme, 2018 and paid the penalty and have initiated process for revival of Elite Buildhome Limited.

b. Shri Pawan Kumar Jha, Director of the Company is disqualified under section 164 of the Companies Act, 2013 with effect from 01/11/2016 to 31/10/2021 due to Strike off of Elite Buildhome Limited by ROC, Chhattisgarh. Director has initiated process for revival of Elite Buildhome Limited.

c. Shri Yashwant Vaswani, Whole-time Director of the Company was disqualified under Section 164 of the Companies Act, 2013 with effect from 01/11/2016 to 31/10/2021 due to non-filing of annual accounts and annual return of Vaswani Ispat Limited, Vaswani Energy Limited and Vaswani Cement Limited for a period of three years. However, director has duly filed the annual accounts and annual returns of Vaswani Ispat Limited, Vaswani Energy Limited and Vaswani Cement Limited under CoDS Scheme, 2018 and paid the penalty and ROC has removed his disqualification with effect from 16th March, 2018. MCA DIN enquiry status is attached.

Notes: Related party relationship in terms of Accounting Standard 18 as given above is pointed out by the management and relied upon by the Auditors.