The Company provides software development and related IT and Infrastructure services. The company has identified six business segments viz. Assessment, Governance, Learning, Teaching, Consulting & Advance Technology The accounting policies adopted for segment reporting are in line with the accounting policy of the company with following additional policies for segment reporting.

(a) Revenue and expenses have been identified as allocable to a particular segment on the basis of relationship to operating activities of the segment, Revenue and expenses which relate to enterprises as a whole and are not allocable to a particular segment on reasonable basis have been disclosed as "Unallocated Corporate Expenses".

(b) Segment assets and segment liabilities represent assets and liabilities in respective segments. Investments, tax related assets and other assets and liabilities that cannot be allocated to a segment on reasonable basis have been disclosed as "Unallocated Corporate Assets" or "Unallocated Corporate Liabilities" as the case may be.

2. EMPLOYEE STOCK OPTION SCHEME:

During the year 2007, the company had introduced CORE Employee Stock Option Scheme - 2007 in accordance with the Securities and Exchange Board of India (Employee Stock Option and Employee Stock Purchase Scheme) Guidelines, 1999. The eligibility and number of options to be granted to an employee is determined on the basis of his/her experience, seniority, designation /job title, and their performance and as approved by the Board/Remuneration and Compensation Committee.

3. REMITTANCES IN FOREIGN CURRENCY ON ACCOUNT OF DIVIDEND

The company has paid dividend in respect of shares held by Non-Residents on repatriation basis. This inter-alia includes portfolio investment and direct investment, where the amount is also credited to Non-Resident External Account (NRE A/c). The exact amount of dividend remitted in foreign currency cannot be ascertained. The total amount remittable in this respect is Nil:

4. COMMITMENTS

a) Estimated amount of contracts remaining to be executed on capital account and not provided for ' NIL /- (PY ' 500,747/-).

5. FINANCIAL AND DERIVATIVE INSTRUMENTS

a) Derivative contracts entered into by the Company and outstanding as on 31st March, 2015 For Hedging Currency & Interest Rate Risks:-

For Nominal amounts of derivative contracts entered into by the Company and outstanding as on 31st March, 2015 amount to ' NIL (PY ' NIL-)

b) Details of foreign currency exposures that are not hedged by a derivative instrument or otherwise:

Foreign currency exposure (other than foreign operation) that are not hedged as on 31st March, 2015 amount to ' 7,498,685,617/- (PY ' 6,733,939,592/-) on account of:

6. OTHER NOTES

a) Exceptional Items represents : - Investment w/off :

As per the companies estimates on valuation for the investments made in various subsidiaries there was an indication that the investment has to be impaired. Hence the company has made provision as per AS -13 for diminution in the value of Investments totaling to ' 4,052,948,378 as on 31st March 2015.

Receivables w/off

During the year, customers have raised quality issues relating to assessment and intervention segment of the products. A management committee was formed to analyses and suggest the future course of action. Customers in this segment would, generally make additional improvements on the products sold to them and further sell the upgraded/final product to their customers. During negotiations, these customers have alleged that due to defective products supplied by CORE, they have lost their contracts with reputed clients and have claimed compensation. To avoid the legal claims and disputes in future and to have continuity in overseas operations, the committee has decided to write off the receivables of ' 1,730,436,995 and settle with customers.

IPR Impairment:

During the year, management has reviewed the carrying value of it's IPR in view of the adoption of Common Core States Standard Initiative(CCSSI) in the United States of America (USA) where these assets were substantially used. The CCSSI is an education initiative in the USA that seeks to establish consistent education standards across the states as well as ensure that students graduating from high school are prepared to either two or four year college programs or enter the workforce. Prior to the CCSSI, each state had its own education standards and Company had the required resources and capability to deliver the solutions. However with the change in regulations and requirements, company has been investing in upgrading to the CCSSI to deliver the solutions consistently and as per requirement. With the CCSSI now in place, all the old products of the company that were aligned to the erstwhile State Standards have become partially redundant. Whilst the erstwhile State Standards will run parallel with the CCSSI for a few years, thus making the old products still commercially relevant, the company has, out of abundant caution, and with a conservative view, decided to fully write down these products. Management has made provision for impairment of ' 3,287,844,535 towards the carrying cost of such IPRs which has been treated as exceptional item. The IPRs aligned to CCSI are carried at cost.

(b) Going Concern:

The Company's finances continued to be under stress which is evident from decrease in sales revenue, increase in overdue trade receivables and payables, salary arrears and arrears of statutory dues, over dues (interest and repayment of borrowings) of banks, financial institutions and finance lease obligations. To mitigate the financial stress, the company has taken various steps including cost cutting exercise and opted for Corporate Debt Restructuring (CDR) plan which has been admitted and is subject to final approval from its lenders. Also, during the year a promoter company has infused ' 51,20,80,907 as an advance under the aforesaid restructuring Plan. The management is confident of approval of the restructuring package of the loans under CDR, improve the operating margins and collection from trade receivables. Despite there being possible material uncertainty in this regard, management is confident of meeting its financial obligations. and hence, these financial statements have been prepared on the basis of going concern assumption.

(c) Haryana ICT

The company had entered into a contract with the State of Haryana on 25.03.2011 to install and maintain computer labs in 2,622 schools under the ICT program. The project was completed as per the contract and the maintenance part of the contract was in operation since last couple of years. Due to various reasons, chief among them being non-receipt of payments from the State Government, the company had partially ceased to service the contract during the year. In spite of on-going negotiations taking place between the company and the State Governments to revive the project, the company received a termination order from the State on 23.04.2014 and forfeiture of bank guarantee of ' 29,50,00,000. The company filed a Special Leave Petition with the Supreme Court on 28.04.2014 and in response to which the Supreme Court granted a stay on the termination Order and forfeiture of bank guarantee for a period of 3 weeks. The stay is currently in operation. The company believes that it has strong case in this matter. Pending outcome of the legal proceedings, no adjustment has been made to the carrying value as at 31st March, 2015 of receivables of ' 74,83,19,014 and of the fixed assets of ' 100,21,44,968 at this stage, for this project.

(d) Trade receivable overdue for more than six months period includes ' 4,655,855,013 dues from customers in assessment segment. Based on the discussion with the customers, management is confident of recovering the dues. The customers have confirmed the year end balances and therefore no provision for doubtful debts is considered necessary at this stage. Out of the total Debtors of ' 4,801,085,391 debtors of ' 1,898,559,608 are receivable from the subsidiaries

(e) Company had purchased computer equipments for ICT projects on financial lease and has taken term loan from Hewlett Packard Financial Services (India) Private Limited (HPFS). During the year, a restructuring agreement has been entered into and a repayment schedule has been restructured for both finance lease and the loan as a consolidated amount. In the absence of breakup of future repayments of lease and loan, the disclosures pertaining to finance lease obligations has not been made.

(f) In the opinion of the Board of Directors, other current assets have a value on realization in the ordinary course of the company's business, which is at least to the amount at which they are stated in the balance sheet.

(g) Advances, Trade payables and few trade receivable balances are subject to confirmation and reconciliation, if any

(h) These accounts of Core Education & Technologies Ltd. include accounts of its two overseas branches.

(i) Application to RBI has been made for overseas debtors outstanding for a period of more than 1 year but the approval from RBI is pending.

(j) The FCCB redemption date was 7th May 2015 but the company has still not redeemed the FCCB

(k) Share Application money of Core Education INC is still not converted into equity shares for more than 1 year. The Company is in the process of making application to RBI for the approval of the same

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