(I) The list of related parties as identified by the Management are as under:

Enterprises owned by/over which Key Management Personnel (KMP) is able to exercise significant influence:-

1 Chameleon Commodities Private Limited

2 Grandeur Corporation Private Limited

3 Aditya Investments and Communication Limited -

(ii) There were no transactions with the related parties.

3 Accounting Standard 22

Accounting Standard for taxes on income issued by the Institute of Chartered Accountants of India is applicable to the Company. However, due to substantial looses, on principles of prudence, the Company has not recognised any deferred tax asset.

4 Accounting Standard 28 - Impairment of Aaaeta

During the year 2011-J2, the entire block of assets were sold and hence there is no impairment of assets observed.

5 Consequent to the notification under the Companies Act 1956, the financial statements for the year ended 31 st March 2015 are prepared under revised Schedule