అకౌంట్స్ గమనికలుCountry Condo's Ltd.

Mar 31, 2025

j) Provisions

A provision is recognised in the statement of profit and loss if, as a result of a past event, the Company has a
present legal or constructive obligation that can be estimated reliably, and it is probable that an outflow of
economic benefits will be required to settle the obligation. If the effect of the time value of money is material,
provisions are determined by discounting the expected future cash flows at a pre-tax rate that reflects current
market assessments of the time value of money and the risks specific to the liability. Where discounting is
used, the increase in the provision due to the passage of time is recognised as a finance cost.

Restructuring

A provision for restructuring is recognised in the statement of profit and loss when the Company has approved
a detailed and formal restructuring plan, and the restructuring either has commenced or has been announced
publicly. Future operating costs are not provided.

Onerous contracts

A provision for onerous contracts is recognised in the statement of profit and loss when the expected benefits
to be derived by the Company from a contract are lower than the unavoidable cost of meeting its obligations
under the contract. The provision is measured at the present value of the lower of the expected cost of terminating
the contract and the expected net cost of continuing with the contract. Before a provision is established, the
Company recognises any impairment loss on the assets associated with that contract.

Reimbursement rights

Expected reimbursements for expenditures required to settle a provision are recognised in the statement of
profit and loss only when receipt of such reimbursements is virtually certain. Such reimbursements are
recognised as a separate asset in the balance sheet, with a corresponding credit to the specific expense for
which the provision has been made.

Contingent liabilities and contingent assets

A disclosure for a contingent liability is made when there is a possible obligation or a present obligation that
may, but probably will not, require an outflow of resources. Where there is a possible obligation or a present
obligation in respect of which the likelihood of outflow of resources is remote, no provision or disclosure is
made.

Contingent assets are not recognised in the financial statements. A contingent asset is disclosed where an
inflow of economic benefits is probable. Contingent assets are assessed continually and, if it is virtually certain

that an inflow of economic benefits will arise, the asset and related income are recognised in the period in
which the change occurs.

k) Revenue Recognition

The Company''s revenue is derived from sales of plots and rendering of services. Most of such revenue is
generated from the sale of plots. The Company has generally concluded that it is the principal in its revenue
arrangements.

Sale of plots

Revenue is recognised when the control of the plots has been transferred to a third party. This is usually when
the title passes to the customer upon registration of plots. At that point, the customer has full discretion over
the channel and price to sell the products, and there are no unfulfilled obligations that could affect the customer''s
acceptance of the product.

Revenue from the sale of plots is measured at the transaction price which is the consideration received or
receivable, net of returns and applicable trade discounts and allowances.

Services

Revenue from services rendered, which primarily relate to contract research, is recognised in the statement of
profit and loss as the underlying services are performed. Upfront non-refundable payments received under
these arrangements are deferred and recognised as revenue over the expected period over which the related
services are expected to be performed.

Revenue from services rendered is recognized in the statement of Profit and loss only when the rendering of
services is fully completed or substantially completed.

Proportionate completion method is a method of accounting which recognizes revenue in the statement of
profit and loss proportionately with degree of completion of services under a contract.

Other Income

Other income consists of interest income on funds invested and gains on the disposal of assets. Interest
income is recognised in the statement of profit and loss as it accrues, using the effective interest method. The
associated cash flows are classified as investing activities in the statement of cash flows. Finance cost consist
of interest expense on loans and borrowings.

l) Borrowing Costs

Borrowing costs are recognised in the statement of profit and loss using the effective interest method. The
associated cash flows are classified as financing activities in the statement of cash flows.

m) Income tax

Income tax expense consists of current and deferred tax. Income tax expense is recognised in the statement
of profit and loss except to the extent that it relates to items recognised directly in equity, in which case it is
recognised in equity.

Current tax

Current tax is the expected tax payable on the taxable income for the year, using tax rates enacted or substantively
enacted at the reporting date, and any adjustment to tax payable in respect of previous years.

Deferred tax

Deferred tax is recognized using the balance sheet approach. Deferred tax assets and liabilities are recognized
for deductible and taxable temporary differences arising between the tax base of assets and liabilities and
their carrying amount in financial statements, except when the deferred income tax arises from the initial
recognition of goodwill or an asset or liability in a transaction that is not a business combination and affects
neither accounting nor taxable profits or loss at the time of the transaction.

Deferred tax assets are recognized to the extent it is probable that taxable profit will be available against which
the deductible temporary differences and the carry forward of unused tax credits and unused tax losses can
be utilized.

Deferred tax liabilities are recognized for all taxable temporary differences except in respect of taxable temporary
differences associated with investments in subsidiaries and foreign branches where the timing of the reversal
of the temporary difference can be controlled and it is probable that the temporary difference will not reverse
in the foreseeable future.

The carrying amount of deferred tax assets is reviewed at each reporting date and reduced to the extent that
it is no longer probable that sufficient taxable profit will be available to allow all or part of the deferred tax asset
to be utilized. Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the
period when the asset is realized or the liability is settled, based on tax rates (and tax laws) that have been
enacted or substantively enacted at the reporting date.

The Company offsets deferred tax assets and liabilities, where it has a legally enforceable right to offset
current tax assets against current tax liabilities, and they relate to taxes levied by the same taxation authority
on either the same taxable entity, or on different taxable entities where there is an intention to settle the current
tax liabilities and assets on a net basis or their tax assets and liabilities will be realized simultaneously.

Deferred Tax includes MAT credit, if any and it is recognized as an asset only when and to the extent there is
convincing evidence that the Company will pay income tax higher than that computed under MAT, during the
period that MAT is permitted to be set off under the Income Tax Act, 1961 for a specified period. Credit on
account of MAT is recognized as an asset based on the management''s estimate of its recoverability in the future.

n) Earnings per Share

The Company presents basic and diluted earnings per share (“EPS”) data for its ordinary shares. Basic EPS
is calculated by dividing the profit or loss attributable to ordinary shareholders of the Company by the weighted
average number of ordinary shares outstanding during the period. Diluted EPS is determined by adjusting the
profit or loss attributable to ordinary shareholders and the weighted average number of ordinary shares
outstanding for the effects of all dilutive potential ordinary shares, which includes all stock options granted to
employees.

o) Rounding Off

All amounts in Indian Rupees disclosed in the financial statements and notes have been rounded off to the
nearest Lakhs unless otherwise stated.

p) Fair Value Measurement

The Company''s accounting policies and disclosures require the determination of fair value, for certain financial
and non-financial assets and liabilities. Fair values have been determined for measurement and/or disclosure
purposes based on the following methods. When applicable, further information about the assumptions made
in determining fair values is disclosed in the notes specific to that asset or liability. Fair value is the price that
would be received to sell an asset or paid to transfer a liability in an orderly transaction between market

participants at the measurement date. The fair value measurement is based on the presumption that the
transaction to sell the asset or transfer the liability takes place either in the principal market for the asset or
liability or in the absence of a principal market, in the most advantageous market for the asset or liability. The
principal or the most advantageous market must be accessible by the Company. The fair value of an asset or
a liability is measured using the assumptions that market participants would use when pricing the asset or
liability, assuming that market participants act in their economic best interest. A fair value measurement of a
non-financial asset takes into account a market participant''s ability to generate economic benefits by using the
asset in its highest and best use or by selling it to another market participant that would use the asset in its
highest and best use. The Company uses valuation techniques that are appropriate in the circumstances and
for which sufficient data are available to measure fair value, maximizing the use of relevant observable inputs
and minimizing the use of unobservable inputs.

All assets and liabilities for which fair value is measured or disclosed in the financial statements are categorized
within the fair value hierarchy, described as follows, based on the lowest level input that is significant to the fair
value measurement as a whole:

• Level 1 — Quoted (unadjusted) market prices in active markets for identical assets or liabilities.

• Level 2 — Valuation techniques for which the lowest level input that is significant to the fair value
measurement is directly or indirectly observable.

• Level 3 — Valuation techniques for which the lowest level input that is significant to the fair value
measurement is unobservable.

For assets and liabilities that are recognized in the financial statements at fair value on a recurring basis, the
Company determines whether transfers have occurred between levels in the hierarchy by re-assessing
categorization (based on the lowest level input that is significant to the fair value measurement as a whole) at
the end of each reporting period.

External valuers are involved for valuation of significant assets, such as assets acquired in a business
combination and significant liabilities, such as contingent consideration. Involvement of external valuers is
determined by the Management, based on market knowledge, reputation, independence and whether
professional standards are maintained.

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Mar 31, 2024

The Company has not received any intimation from "Suppliers" regarding their status under Micro, Small and Medium Enterprises Development Act, 2006, and hence disclosure relating to the outstanding amount more than 45 days cannot be ascertained.

Detailed information regarding quantitative particulars under part II of Schedule III to the Companies Act, 2013. Quantitative details are not furnished as the company is in the activity of Real Estate. Closing Inventories of Land and Land Development Expenditure is Amount 2,650.50 for current year (previous year Amount 2,525.53).

In accordance with Accounting Standard 22(AS 22) issued by the ICAI, the Company has accounted for deferred income tax during the year. The deferred income tax provision for the current year amount 0.23 towards deferred tax Asset and amount (0.29) towards deferred tax Asset in the previous year.

The Company has only one segment i.e “Real Estate”. As such there is no requirement of segment reporting.

The Corporate guarantee given by the Company is revoked as M/s. Country Club Hospitality & Holidays Limited completely repaid the term loan.

The Company has sold out the Property Situated at No.20/1-524, Sy No: 20/1, Geddanahalli, Attibele Hobli, Anekal Taluk, Bangalore District Pin-562107.

. Capital Management:

For the purpose of Company''s capital management, Capital includes issued equity capital and other equity reserves attributable to the equity holders of the Company. The primary objective of the Company''s capital management is to maximise the shareholder value.

To maintain or adjust the capital structure, the Company may adjust the dividend payment to shareholders, return capital to shareholders or issue new shares. The Company monitors capital using a gearing ratio, which is net debt divided by total capital plus net debt. The Company includes within net debt, interest bearing loans and borrowings, trade and other payables, less cash and cash equivalents.

Particulars	31-Mar-24	31-Mar-23
Borrowings	194.66	166.42
Trade and other payables	721.02	861.69
Less: Cash and cash equivalents	(372.06)	(407.97)
Net Debt	543.62	620.17
Equity	2,450.21	2,288.87
Capital and Net Debt	2,993.83	2,909.04
Gearing Ratio	18.16%	21.32°%

29. Additional Regulatory information

i. The Company is in possession of immovable property and title deeds are held in the Name of the company.

ii. The Company has not revalued any of its Property, Plant and Equipment during the year.

iii. The Company has not granted any loans or advances in the nature of loans to promoters, directors, KMPs and other related parties.

iv. There are no proceedings initiated or pending against the company for holding any Benami property under the Benami Transactions (Prohibition) Act, 1988 (45 of 1988) and rules made there under.

v. The Company has no borrowings from banks or financial institutions on the basis of security of current assets and the quarterly returns or statements filed by the company with such banks or financial institutions are in agreement with the books of account of the Company.

vi. The Company has overdraft facility from banks on the basis of security against fixed deposits and the bank statements are in agreement with the books of accounts of the company.

vii. The Company is not declared as wilful defaulter by any bank or financial Institution or other lenders.

viii. The Company did not have any transactions with Companies struck off under Section 248 of Companies Act, 2013 or Section 560 of Companies Act, 1956 considering the information available with the Company.

30. (i) Financial risk management objectives and policies

The Company''s principal financial liabilities comprise of trade and other payables. The main purpose of these financial liabilities is to finance the Company''s operations. The Company''s principal financial assets include cash and cash equivalents that derive directly from its operations and FVTPL investments.

The Company is exposed to market risk and liquidity risk. The Company''s senior management oversees management of these risks. The Company''s financial risk activities are governed by appropriate policies and procedures so that financial risks are identified, measured and managed in accordance with the Company''s policies and risk objectives. The Board of Directors reviews and agrees policies for managing each of these risks, which are summarised below.

(ii) Market Risk

Market risk is the risk that the fair value or future cash flows of a financial instrument will fluctuate because of changes in market prices. Market risk comprises of currency rate risk, interest rate risk and other price risk. Financial instruments affected by market risk include FVTPL financial instruments.

The sensitivity analysis in the following sections relate to the position as at 31 March 2024 and 31 March 2023.

(iii) Equity price risk

The Company''s listed equity instruments are susceptible to market price risk arising from uncertainties about future values of the investment securities. The Company manages the equity price risk through diversification. The Company''s Board of Directors reviews and approves all equity investment decisions.

(iv) Liquidity Risk:

The Company''s objective is to maintain a balance between continuity of funding and flexibility. The Company has sufficient working capital funds available to honour the debt maturing within 12 months.

31. The Company does not have any transactions which are not recorded in the books of accounts that has been surrendered or disclosed as income in the tax assessments under the Income Tax Act, 1961 during the year.

32. The Company has not traded or invested in Crypto currency or Virtual Currency during the financial year.

33. There are no significant events that occurred after the balance sheet date.

34. The company has not advanced/loans/invested or received funds (either borrowed funds or share premium or any other sources or kind of funds to any other persons or entities, including foreign entities (Intermediaries) with the understanding (whether recorded in writing or otherwise) that the Intermediary shall directly or indirectly lend or invest in other persons or entities identified in any manner whatsoever by or on behalf of the company (Ultimate Beneficiaries) or provide any guarantee, security or the like to or on behalf of the Ultimate Beneficiaries.

35. The company has also not received any fund from any person(s) or entity(ies), including foreign entities (Funding Party) with the understanding (whether recorded in writing or otherwise) that the company shall (i) directly or indirectly lend or invest in other persons or entities identified in any manner whatsoever by or on behalf of the Funding Party (Ultimate Beneficiaries) or (ii) provide any guarantee, security or the like on behalf of the Ultimate Beneficiaries.

36. The Company is not covered under the provisions of section 135 of the Companies Act, 2013.

37. The Company has not declared any dividend during the year.

38. In the opinion of the management, the assets As shown in the financial Statements, have a value on realization in the ordinary course of business of at least equal to the amount at which they are stated in the balance sheet.

40. Previous year''s numbers have been regrouped, rearranged, recasted, wherever necessary to conform to Current Year Classification.

41. The numbers have been rounded off to the nearest rupees in Lakhs.

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Mar 31, 2018

1. Detailed information regarding quantitative particulars under part II of Schedule III to the Companies Act, 2013. Quantitative details are not furnished as the company is in the activity of Real Estate and Hospitality Services. Closing Inventories of Land and Land Development Expenditure is Rs,13,12,01,885/- for current year (previous year Rs,10,25,70,894/ -) and Closing Inventories of Consumables is Rs,96,154/- for current year (Previous year Rs,1,44,275/-).

2. Contingent Liability:

a) The Company has given the Corporate Guarantee to Vijaya Bank, Bank of India and Union Bank of India in respect of Term Loan availed by M/s.Country Club Hospitality & Holidays Limited.

The details of the Property given as Collateral securities are as follows.

Company''s Immovable property situated at No.20/1-524, Sy No: 20/1, Geddanahalli, Attibele Hobli, Anekal Taluk, Bangalore District Pin-562107.

b) The Company has given the Corporate Guarantee to Central Bank of India in respect of Term Loan availed by M/s.Country Club Hospitality & Holidays Limited.

The details of the Property given as Collateral securities are as follows.

Company''s Immovable Property Situated at Sy No:101/3,102/3,103/1,103/2 & 103/17, Kumbalgodu, Kengeri Hobli beside Mc.dowell Unit near Mysore Road under BBMP, Bangalore.

3. Previous year''s numbers have been regrouped, rearranged, recasted, wherever necessary to conform to Current Year Classification.

4. The numbers have been rounded off to the nearest rupee.

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Mar 31, 2014

1. Detailed information regarding quantitative particulars under part II of Schedule VI to the Companies Act, 1956. Quantitative details are not furnished as the company is in the activity of Real Estate and Hospitality Services. Closing WIP is Rs.380,983,885 and Closing Stock of Consumables is Rs.574,411 for current year (Previous year Closing WIP is Rs.332,369,011 and Closing Stock of Consumables is Rs.530,648)

2. Depreciation has not been provided on old assets in the Fixed Assets Schedule as they belong to the earlier business, which are not put in use for current business.

3. Contingent Liability:

a) During the financial year - 2011-12, the company has given corporate guarantee to its Associated enterprise i.e. M/ s Country Club (India) Limited for availing the Term Loan from Three Banks namely Vijaya Bank, Bank of India and Union Bank of India for which the company has given its Assets as collateral security.

The details of the Property given as Collateral securities are as follows.

(i) Company''s Immovable property situated at No.20/1-524, Sy No: 20/1, Geddanahalli, Attibele Hobli, Anekal Taluk, Bangalore District Pin-562107.

b) During the financial year - 2011-12, the company has given corporate guarantee to its Associated enterprise i.e. M/s Country club (India) Limited for availing the Secured Business Loan from M/s.Karvy Financial Services. For which the company has given its Assets as collateral security.

The details of the Property given as Collateral securities are as follows.

(i) Property Situated at Sy No:101/3,102/3,103/1,103/2 & 103/17, Kumbalgodu, Kengeri Hobli beside Mcdowell Unit near Mysore Road under BBMP, Bangalore.

4. During the financial year 2013-14, both Country Club (India) Limited and Amrutha Estates & Hospitality Private Limited got amalgamated through scheme of Amalgamation approved by Hon''ble High Court of Andhra Pradesh vide its order dated 01-04-2013, petitions C.P No.s 103 & 104 of 2012.

As a result of the above, during the year company has set off a loan amount due to Country Club (India) Limited amounting to Rs.350,147,572/- (Previous year amounting to Rs.354,022,202/- shown under Long term Borrowings) against the loan receivable from Amrutha Estate & Hospitality Private Ltd amounting to Rs.361,562,797/- (Previous year amounting to Rs.367,335,604/- shown under Long Term Loans and Advances) and showing the closing balance of loan receivable from Country Club (India) Ltd amounting to Rs.11,415,225/- (Previous year amounting to Rs.13,313,402/-) as shown in the balance sheet - Note No.9.

5. Closing Balances of Debtors / Creditors / Loans & Advances are subject to confirmation from the parties.

6. Previous year''s numbers have been regrouped, rearranged, recasted, wherever necessary to conform to Current Year Classification.

7. The numbers have been rounded off to the nearest rupee.

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Mar 31, 2013

BASIS OF PREPARATION: The financial statements have been prepared to comply in all material respects with the accounting standards notified by Companies Accounting Standards Rules, 2006 and the relevant provisions of the Companies Act, 1956 (the Act''). The financial statements have been prepared under historical cost convention on an accrual basis in accordance with accounting principles generally accepted in India. The accounting policies have been consistently applied by the Company and are consistent with those used in the previous year.

USE OF ESTIMATES: The preparation of financial statements in conformity with generally accepted accounting principles require the management to make estimates and assumptions that affect the reported amounts of Assets and Liabilities and disclosure of Contingent Liabilities at the date of the financial statements and the result of operations during the reporting period. Although these estimates are based upon management''s best knowledge of current events and actions, actual results could differ from these estimates. Significant estimates used by the management in the preparation of these financial statements include estimates of the economic useful life of Fixed Assets and provisions for bad and doubtful debts. Any revision to accounting estimates is recognized prospectively.

1. Corporate Guarantee:

a) During the financial year - 2011-12, the company has given corporate guarantee to its Associated enterprise i.e. M/s Country Club (India) Limited for availing the Term Loan from Three Banks namely Vijaya Bank, Bank of India and Union Bank of India for which the company has given its Assets as collateral security.

The details of the Property given as Collateral securities are as follows.

(i) Company''s Immovable property situated at No.20/1-524, Sy No:20/1, Geddanahalli, Attibele Hobli, Anekal Taluk, Bangalore District Pin-562107.

b) During the financial year - 2011-12, the company has given corporate guarantee to its Associated enterprise i.e. M/s Country club (India) Limited for availing the Secured Business Loan from M/s.Karvy Financial Services. For which the company has given its Assets as collateral security.

The details of the Property given as Collateral securities are as follows.

(i) Property Situated at Sy No:101/3,102/3,103/1,103/2 & 103/17, Kumbalgodu, Kengeri Hobli beside Mcdowell Unit near Mysore Road under BBMP, Bangalore.

2. Closing Balances of Debtors / Creditors / Loans & Advances are subject to confirmation from the parties.

3. Previous year''s numbers have been regrouped, rearranged, recasted, wherever necessary to conform to Current Year Classification.

4. The numbers have been rounded off to the nearest rupee.

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Mar 31, 2012

BASIS OF PREPARATION:

The financial statements have been prepared to comply in all material respects with the accounting standards notified by Companies Accounting Standards Rules, 2006 and the relevant provisions of the Companies Act, 1956 ('the Act'). The financial statements have been prepared under historical cost convention on an accrual basis in accordance with accounting principles generally accepted in India. The accounting policies have been consistently applied by the Company and are consistent with those used in the previous year.

USE OF ESTIMATES:

The preparation of financial statements in conformity with generally accepted accounting principles require the management to make estimates and assumptions that affect the reported amounts of Assets and Liabilities and disclosure of Contingent Liabilities at the date of the financial statements and the result of operations during the reporting period. Although these estimates are based upon management's best knowledge of current events and actions, actual results could differ from these estimates. Significant estimates used by the management in the preparation of these financial statements include estimates of the economic useful life of Fixed Assets and provisions for bad and doubtful debts. Any revision to accounting estimates is recognized prospectively.

1. Detailed information regarding quantitative particulars under part II of Schedule VI to the Companies Act, 1956. Quantitative details are not furnished as the company is in the activity of Real Estate and Hospitality Services. Closing WIP is Rs.239,912,726 and Closing Stock of Consumables is Rs.355,229 for current year (Previous year Closing WIP is Rs.167,807,578)

2. Depreciation has not been provided on old assets in the Fixed Assets Schedule as they belong to the earlier business, which are not put in use for current business.

3. Corporate Guarantee:

a) During the financial year, the company has given corporate guarantee to M/s Country Club (India) Limited for availing the Term Loan from Three Banks namely Vijaya Bank, Bank of India and Union Bank of India for which the company has given its Assets as collateral security.

The details of the Property given as Collateral securities are as follows.

Company's Immovable property situated at No.20/1-524, Sy No:20/1, Geddanahalli, Attibele Hobli, Anekal Taluk, Bangalore District Pin-562107.

b) During the financial year, the company has given corporate guarantee to M/s Country club (India) Limited for availing the Secured Business Loan from M/s.Karvy Financial Services. For which the company has given its Assets as collateral security.

The details of the Property given as Collateral securities are as follows.

Property Situated at Sy No:101/3,102/3,103/1,103/2 & 103/17, Kumbalgodu, Kengeri Hobli beside Mcdowell Unit near Mysore Road under BBMP, Bangalore.

c) During the financial year, the company has given corporate guarantee and mortgaged their property for loans taken by M/s. Country Club (India) limited for which the Company has to obtain the necessary approval of share holders U/s. 293(1)(a) and Section 372A by way of postal ballot and the Company has initiated necessary steps to obtain the approval from share holders.

4. Closing Balances of Debtors / Creditors / Loans & Advances are subject to confirmation from the parties.

5. Previous year's numbers have been regrouped, rearranged, recasted, wherever necessary to conform to Current Year Classification.

6. The numbers have been rounded off to the nearest rupee.

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Mar 31, 2011

1. Share warrants forfeited due to non conversion within 18 months from the date of issue i.e. on or before 23fd February, 2011. Therefore the amount of Rs.4,52,20,000/- forfeited in share warrants amount transferred to Reserves & Surplus as on 24th February, 2011.

2. The company has issued bonus shares of 4,85,97,300 @ Rs.1A each on 08.09.09 out of securities premium account.

3. A Scheme of Amalgamation of M/s Country Club Bangalore Limited with M/s Country Condo's Limited has been approved by the Honorable High Court of Andhra Pradesh dated 29,h April, 2010 vide CP No.61 & 62 of 2010 and obtained certified copy of the order dated 15th June, 2010. The Swap ratio for allotment of shares is 5:29 i.e. for every 5 shares of Country Club Bangalore Limited 29 shares of Country Condo's Limited is recommended fair for appointed date 1st October, 2009. Accordingly 2,90,00,000 shares @ Rs.1/- amounting to Rs.2,90,00,000 is included under subscribed & paid up capital of the Company.

4. Deferred Tax Assets & Liabilities:

In accordance with Accounting standard 22 (As 22) issued by the ICAI, the Company has accounted for deferred income tax liability Rs.28,594/- for current year (Previous year Rs.30,211/-)

5. Amalgamation Expenses incurred during the Current year are amortised over a period of 5 years

6. Particulars of Employees in accordance with Sub-section (2A) of Section 217 of the Companies Act, 1956 read with Companies (Particulars of Employees) Rule 1975. NIL

7. Detailed information regarding quantitative particulars under part II of Schedule VI to the Companies Act, 1956. Quantitative details are not furnished as the company is in the activity of Real estate and Construction. Closing WIP is 1678.07 (Rs. in Lakhs) for current year (Previous year 1277.00 (Rs. in Lakhs)).

8. Depreciation has not been provided on old assets in the Fixed Assets Schedule as they belong to the earlier business, which are not put in use for current business

9. Segment Reporting:

Since the Company is Operating in only one segment-Real Estates & Construction, hence segment reporting as required under Accounting Standard - 17 is not practicable.

10. Related Party Disclosure:

Particulars of related parties:

Name of the Related Party Nature of Transaction during the year

Country Club (India) Limited Lease Rent of Rs.28,44,000 received

Amrutha Estates & Hospitality Private Limited Commission Income of Rs.15,58,050 received

11. Directors Remuneration during the year - NIL

12. Employee benefits: Provision for Gratuity, Leave Encashment hat not been provided for as per AS - 15, on the basis of Actuarial Valuation

13. Closing Balances of Debtors / Creditors / Loans & Advances are subject to confirmation from the parties.

14. Previous year's numbers have been regrouped, rearranged, recasted, wherever necessary to conform to Current Year Classification.

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Mar 31, 2010

1. During the year the Company has issued Bonus Shares on 08.09.2009 in the ratio of 2:1 out of Securities Premium Account up to the tune of `3,23,98,200, Hence net reserves & Surplus after Bonus issue is `47,15,300 therefore, the total no. of shares after Bonus issue is 4,85,97,300 equity share of `1/-each amounting to `4,85,97,300/-

2. A Scheme of Amalgamation of M/s Country Club Bangalore Limited with M/s Country Condos Limited has been approved by the Honorable High Court of Andhra Pradesh dated 29th April, 2010 vide CP No.61 & 62 of 2010 and obtained certified copy of the order dated 15th June, 2010. The Swap ratio for allotment of shares is 5: 29 i.e. for every 5 shares of Country Club Bangalore Limited 29 shares of Country Condos Limited is recommended fair for appointed date 1st October, 2009. Accordingly 2,90,00,000 shares @ `1/- amounting to `2,90,00,000 is included under subscribed & paid up capital of the Company.

3. Company has also issued 1,70,00,000 partly paid share warrants of `10.64/-each to be converted into equity shares of `1/- each at a premium of `9.64/-. Out of which the Company has received 25% as on 24.08.2009 which is required to be converted into equity shares within 18 months from the date of issue i.e on or before 23rd February, 2011.

4. Capital Reserve of `2,29,82,670 arrived out of amalgamation through Honorable High Court of Andhra Pradesh dated 29th April, 2010 vide CP No.61 & 62 of 2010.

5. Particulars of Employees in accordance with Sub-section (2A) of Section 217 of the Companies Act, 1956 read with Companies (Particulars of Employees) Rule 1975. NIL

6. The Company has not made any provision for Gratuity to its employees, because no employee has put in qualifying period of service for entitlement of this benefit.

7. Depreciation has not been provided on old assets in the Fixed Assets Schedule as they belong to the earlier business, which are not put in use for current business.

8. Balance confirmations from Sundry Creditors are yet to be obtained.

9. Segment Reporting

Since the Company is Operating in only one segment – Real Estate & Construction, hence segment reporting as required under Accounting Standard – 17 is not applicable.

10. Related Party Transactions

During the year the company has received rent from Country Club India Limited for an amount of `14,22,000/-.

11. Deferred Tax Assets & Liabilities

In accordance with Accounting standard 22 (As 22) issued by the ICAI, the Company has accounted for deferred income tax liability `30,211/- for current year (Previous year `6,71,078/- towards deferred income tax asset).

12. Figures have been rounded off to the nearest rupee.

13. Previous years figures have been regrouped / rearranged wherever necessary.