Schedule 7

JAMUNA ENTERPRISES STATIONERY PRIVATE LIMITED : NEW DELHI SCHEDULE - 7 Significant Accounting Policies and Notes to Accounts forming part of accounts for the year ended 31st March, 2009 SIGNIFICANT ACCOUNTING POLICIES A.

Accounting Concepts The company follows mercantile system of accounting and recognises Income and Expenditure on accrual basis. The accounts are prepared on historical cost basis and as a going concern. Accounting Policies not referred to otherwise are consistent with generally accepted accounting principles.

B.

Fixed Assets Fixed Assets are stated at cost of acquisition which comprises of purchase price and any directly attributable cost.

C.

Depreciation on Assets Depreciation is provided on “written down value” method at the rates provided by Schedule XIV of the Companies Act, 1956.

D.

Sales i.

Sales are accounted for on dispatch of goods to customers.

ii. E.

Other income is recognised when amount and collectibility is certain.

Investments Investments are valued at cost.

F.

Taxes on Income Provision for Tax for the year comprises estimated current income-tax determined to be payable in respect of taxable income and deferred tax being the tax effect of timing differences representing the difference between taxable income and accounting income that originate in one period and are capable of reversal in one or more subsequent periods.

G.

Contingent Liabilities All liabilities other than contingent liabilities are provided in the accounts. The contingent liabilities, if any, are disclosed at their estimated value by way of note in the accounts.

NOTES TO ACCOUNTS 1. Deferred Tax Asset has not been recognized due to uncertainty of absorption of carry forward losses/ depreciation. 2. Quantitative information as required by paragraph 3 and 4 of Schedule VI of the Companies Act, 1956 is not provided, in the absence of purchases, sales, opening and closing stock. 3. Balances outstanding as on 31st March, 2009 are subject to confirmation. 4. The market value of investment in Haryana Coated Paper Ltd. has been stated on the basis of last quoted price of the share on 2nd February 1996. 5. Previous year’s figures have been regrouped and recasted, wherever necessary, to make them comparable with those of current year. 6. Previous year figures have been rounded off to the nearest rupee.

ATTACHED TO OUR REPORT OF DATE FOR AIYAR & CO. CHARTERED ACCOUNTANTS

Sd/(PREM PATNAIK) DIRECTOR

PLACE: NEW DELHI DATE : 31st August, 2009

Sd/(CRISTINA PATNAIK) DIRECTOR

Sd/(A.K.BATRA) PARTNER

BALANCE SHEET ABSTRACT AND COMPANY’S GENERAL BUSINESS PROFILE: (Information pursuant to part IV of Schedule VI to the Companies Act, 1956.) I.

II.

III.

IV.

V.

Registration Details Registration No. 5418 State Code 55 st Balance Sheet Date 31 March 2009 Capital Raised during the year (Amount in Rs. / Thousand) Public Issue NIL Right Issue NIL Bonus Issue NIL Private Placement NIL Position of Mobilisation and Deployment of Funds (Amount in Rs. / Thousand) Total Liabilities 127.87 Total Assets 127.87 Sources of Funds : Shareholder’s Funds 114.20 Reserve & Surplus 13.67 Secured Loans Unsecured Loans Application of Funds : Net Fixed Assets 0.02 Investments 113.00 Net Current Assets 14.85 Performance of Company (Amount in Rs. / Thousand) Turnover/Other Income Total Expenditure 9.03 Profit/(loss) Before Tax (9.03) Profit/(loss) After Tax (9.03) Earnings per Share (Rs.) (7.90) Dividend Rate % Generic Names of Three Principles Products/Services of Company (as per monetary terms) Item Code No. (ITC Code) Not Available Product Description Stationers, Printers & Other Ancillary Objects Item Code No. (ITC Code) Product Description Item Code No. (ITC Code) Product Description

PLACE: NEW DELHI DATE: 31st, August,2009

Sd/(PREM PATNAIK) DIRECTOR

N.A. N.A. N.A. N.A.

Sd/(CRISTINA PATNAIK) DIRECTOR