అకౌంట్స్ గమనికలుPrecious Trading & Investments Ltd.

Mar 31, 2013

1. in the opinion of the Directors the Current Assets and creditors have the value at which they are stated in the balance sheet, if realized in the ordinary course of business. The provision for all known Liabilities is adequate and not in excess of the Amount reasonably necessary.

2. Revenue recognition

income & expenses considered receivable and payable are accounted for on accrual basis when no significant uncertainties as to its realization or determination exist.

3. Expenditure in Foreign Currency during the year Rs. Nil (Previous Year - Rs. NIL)

4. As per the guidelines provided under AS-13 on ''Accounting for Investments'' all the long term unquoted investments and are stated At Cost. Cost Includes Purchase Cost and the cost of Acquisition,

5. The Liability for Retirement benefits as per Accounting Standard -15 in view of absence of employees. Provision during the year is Rs. NIL. (Previous Year Rs. NIL)

6. Amount of Borrowing Cost capitalized as per Accounting Standard 16 during the year is Rs. NIL. (Previous Year Rs. NIL)

7. Since the Company is operating its Investment Activity only in one Segment no Segment wise Reporting per accounting Standard AS-17 is provided.

8. As required by Accounting Standard - 20 the basic & Diluted (EPS) during the year is Rs. (0.42) [Previous Year Rs. (0.48)] arrived at by dividing net profit/(loss) for the year after tax (NPAT) by the total number of Equity Shares issued and subscribed as at the end of the year.

9. The Disclosure of Financial Information about the subsidiary has been made as per the requirements of Accounting Standard 21 - ''Consolidated Financial Statements''.

10. Deferred taxation

The breakup of Net Deferred Tax Asset as at March 31, 2013 comprising of temporary differences between the profit as per financial statements and profit as per income tax as recognized in the profit & loss account is as under:

Deferred tax assets subject to the consideration of prudence are recognized and carried forward only to the extent that there is a reasonable certainty that sufficient future taxable income will be available against which such deferred tax assets can be realized. Therefore no DTA is recognized.

11. The Disclosure of Investments made in Associate concern other than those in subsidiary concern has been made as per the requirements of Accounting Standard 23 - ''Accounting for Investments in Associates in Consolidated Financial Statements''.

12. There is no joint venture arrangement or control over operations requiring disclosure of per Requirements of AS - 27 ''Financial Reporting of Interest in Joint ventures''.

13. Prior period comparatives

Prior period figures have been regrouped/ reclassified wherever necessary for comparative purpose.

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Mar 31, 2011

1. In the opinion of the Directors the Current Assets and creditors have the value at which they are stated in the balance sheet. If realized in the ordinary course of business. The provision for all known liabilities is adequate and not in excess of the Amount reasonably necessary.

2. Since the Company does not carry on any manufacturing activity, the particulars in respect of quantitative details as required by Para 4(c) and 4 (d) of Part II to Schedule VI of the Companies Act, 1956 are not applicable.

3. REVENUE RECOGNITION :

Income & expenses considered receivable and payable are accounted for on accrual basis when no significant uncertainties as to its realization or determination exist.

4. Expenditure Foreign Currency during the year Rs. Nil (Previous Year - Rs. Nil).

5. As per the guidelines provided under AS-13 on 'Accounting for investments all the long term unquoted investments and are stated At Cost, Cost includes Purchase Cost and the cost of Acquisition.

6. The Liability for Retirement benefits as per Accounting Standard -15 in view of absence of employees. Provision during the year is Rs Nil (Previous year Rs. Nil).

7. Amount of Borrowing Cost capitated as per Accounting Standard 16 during the year is Rs. Nil (Previous Year Rs. Nil).

8. Since the Company is operating its Investment Activity only in one Segment no Segment wise Reporting per accounting Standard AS-17 is provided.

9. Related party Disclosures:

As per Accounting Standard 18, issued by The institute of Chartered Accountants of India, the disclosure of transactions with the related parties as defined in the Accounting Standard are given below: (i) list of related parties where control exists and relationships: (ii)Transaction carried out with Related parties in the ordinary course of business.

10. As required by Accounting Standard - 20 the basic and Diluted (EPS) during the year is Rs.(2.07) [ Previous Year Rs. (0.81)] arrived at by dividing net profit/ loss) for the year after tax (NPAT) by the total number of Equity Shares issued and subscribed as at the end of the year.

11. The Disclosure of Financial Information about the subsidiary has been made as per the requirements of Accounting Standard 21 - 'Consolidated financial Statements'.

12. DEFERED TAXATION:

The break up of Net Deferred Tax Asset as at March 31, 2011 comprising of temporary differences between the profit as per financial statements and profit as per Income tax as recognized in the profit & loss account is as under :

Deferred tax assets:

subject to the consideration of prudence are recognized and carried forward only to the extent that there is a reasonable certainty that sufficient future taxable income will be available against which such deferred tax assets can be realised. Therefore the DTA recognized in the earlier years has been reversed during the year.

13. The Disclosure of Investments made in Associate concern other than those in subsidiary concern has been made as per the requirements of Accounting Standard 23 - 'Accounting for Investments in Associates in Consolidated Financial Statements'.

14. There is no joint venture arrangement or control over operations requiring disclosure of per Requirements of AS -27 'Financial Reporting of Interest in Joint ventures'.

15. PRIOR PERIOD COMPAR1T1VES:

Prior period figures have been regrouped / reclassified wherever necessary for comparative purpose.

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Mar 31, 2010

1. In the opinion of the Directors the Current Assets and creditors have the value at which they are stated in the balance sheet, if realized in the ordinary course of business. The provision for all known Liabilities is adequate and not in excess of the Amount reasonably necessary.

2. Since the Company does not carry on any manufacturing activity, the particulars in respect of quantitative details as required by Para 4 (c) and 4 (d) of Part II to Schedule VI of the Companies Act, 1956 are not applicable.

3. REVENUE RECOGNITION:

Income & expenses considered receivable and payable are accounted for on accrual basis when no significant uncertainties as to its realization or determination exist.

4. Expenditure in Foreign Currency during the year Rs. Nil (Previous Year - Rs. NIL)

5. As per the guidelines provided under AS-13 on Accounting for Investments all the long term unquoted investments and are stated At Cost. Cost Includes Purchase Cost and the cost of Acquisition.

6. The Liability for Retirement benefits as per Accounting Standard -15 in view of absence of employees. Provision during the year is Rs NIL. (previous Year Rs. nil)

7. Amount of Borrowing Cost capitalized as per Accounting Standard 16 during the year is Rs. NIL (Previous Year Rs NIL).

8. Since the Company is operating its Investment Activity only in one Segment no Segment wise Reporting per accounting Standard AS-17 is provided.

9. Related party Disclosures:

As per Accounting Standard 18, issued by The institute of Chartered Accountants of India, the disclosure of transactions with the related parties as defined in the Accounting Standard are given below:

(i) List of related parties where control exists and related parties with whom transactions have not token place and relationships:

Sr No. Name of the Related Party Relationship

1. Sheth Realcon Ventures Pvt. Ltd. Associate Concerns

2. Sheth Estate (International) Ltd.

3. Middle East Exports Pvt. Ltd.

4. Sheth Building Materials Pvt. Ltd.

5. Lohitka Properties Pvt. Ltd.

6. Attaz Digi-Tel Pvt. Ltd.

7. Sheth Infrastructure Pvt Ltd

8. Laxmiprabha Impex & Investments Pvt. Ltd.

9. Sheth Shelters Pvt.Ltd.

10. Sheth Developers and Realtors (I) Limited Subsidiary Company

11. Sheth Developers Pvt Ltd. Holding Company

12. Ashwin N. Sheth Directors / Key

13. Jitendro N. Sheth Management Personnel

14. Vallabh N. Sheth

15. Sheth Vasantben Natwarlal Charitable Trust Enterprises over which key managerial personnel are able to exercise significant influence.

10. As required by Accounting Standard - 20 the basic and Diluted (EPS) during the year is Rs. {0.81) [ Previous Year Rs. 0.44 ] arrived at by dividing net profit/ (loss) for the year after lax (NPAT) by the total number of Equity Shares issued and subscribed as at the end of the year.

11. The Disclosure of Financial Information about the subsidiary has been made as per the requirements of Accounting Standard 21 - Consolidated Financial Statements.

12. DEFERRED TAXATION :

The break up of Net Deferred Tax Asset as at March 31. 2010. comprising of temporary differences between the profit as per financial statements and profit as per Income tax as recognized in the profit & loss account is as under: Deferred tax assets subject to the consideration of prudence are recognized and carried forward only to the extent that there is a reasonable certainty that sufficient future taxable income will be available against which such deferred tax assets can be realised.

Therefore the DTA recognized in the earlier years has been reversed during the year.

13. The Disclosure of Investments made in Associate concern other than those in subsidiary concern has been made as per the requirements of Accounting

14. There is no joint venture arrangement or control over operations requiring disclosure of per Requirements of AS -27 Financial Reporting of Interest in Joint ventures.

15. PRIOR PERIOD COMPARIIIVES:

Prior period figures have been regrouped/ reclassified wherever necessary for comparative purpose.

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Mar 31, 2009

1. In the opinion of the Directors the Current Assets and creditors have the value at which they are stated in the balance sheet, if realized in the ordinary course of business. The provision for all known Liabilities is adequate and not in excess of the Amount reasonably necessary.

2. Since the Company does not carry on any manufacturing activity, the particulars in respect of quantitative details as required by Para 4 (c) and A (d) of Part II to Schedule VI of the Companies Act, 1956 are not applicable.

3. REVENUE RECOGNITION :

Income & expenses considered receivable and payable are accounted for on accrual basis when no significant uncertainties as to its realization or determination exist.

4. Expenditure in Foreign Currency during the year Rs. Nil (Previous Year - Rs. NIL)

5. As per the guidelines provided under aS-13 on Accounting for Investments all the long term unquoted investments and are stated At Cost. Cost Includes Purchase Cost and the cost of Acquisition.

6. The Liability for Retirement benefits as per Accounting Standard -15 in view of absence of employees. Provision during the year is Rs NIL. (Previous Year Rs. nil]

7. Amount of Borrowing Cost capitalized as per Accounting Standard 16 during the year is Rs. NIL (Previous Year Rs NIL).

8. Since the Company is operating its Investment Activity only in one Segment no Segment wise Reporting per accounting Standard AS-17 is provided.

9. Related party Disclosures:

As per Accounting Standard 18, issued by The Institute of Chartered Accountants of India, the disclosure of transactions with the related parties as defined in the Accounting Standard are given below:

(i) List of related parties where control exists and related parties with whom transactions have not taken place and relationships:

Sr No. Name of the Related Party Relationship

1 Atlaz Digi-Tel Pvt. Ltd. Associate Concerns

2. Laxmiprabha Impex & Investments Pvt. Ltd.

3. Middle East Exports Pvt. Ltd.

4. Sheth Estate (International) Ltd.

5. Sheth Building Materials Pvt. Ltd.

6. Lohitka Properties Pvt. Ltd.

7 Sheth Realcon Ventures Pvt. Ltd.

8. Sheth Developers Pvt. Ltd. Holding Company

9 Henkel Switchgears Ltd. Subsidiary Company

10. As required by .Accounting Standard -.20 the basic and Diluted (EPS) during the year is Rs. (0.44) [ Previous Year Rs. 0.22 ] arrived at by dividing net profit/ (loss) for the year after tax (NPAT) by the total number of Equity Shares issued and subscribed as at the end of the year.

11. The disclosure of Financial Information about the subsidiary, has been made as per the requirements of Accounting Standard 21 - Consolidated Financial Statements.

12. The Disclosure of Investments made in Associate concern other than those in subsidiary concern has been made as per the requirements of Accounting Standard 23 - Accounting for Investments in Associates in Consolidated Financial Statements.

13. There is no joint venture arrangement or control over1 operations requiring disclosure of per Requirements of AS -27 Financial Reporting of Interest in Joint ventures :

14. PRIOR PERIOD COMPARITIVES:

Prior period figures have been regrouped/ reclassified wherever necessary for VI comparative purpose.