1. Employee Benefit Plans

(i) Defined contribution plans

The Company makes Provident Fund contributions to defined contribution plans for qualifying employees. Under the Schemes, the Company is required to contribute a specified percentage of the payroll costs to fund the benefits. The Company recognized Rs.3,41,526/- for Provident Fund contributions in the Statement of Profit and Loss. The contributions payable to these plans by the Company are at rates specified in the rules of the schemes.

(ii) Defined benefit plans

The Company offers the following employee benefit schemes to its employees:

“i. Gratuity : The company is providing for the Gratuity Liability in the Books of Account based on its own estimate & it is charged to Profit & Loss Account. The Company recognized NIL (PY : Rs.2,50,000/-) towards Gratuity Liability in the Statement of Profit and Loss.

There is no specific investment plan or asset kept aside to meet the Gratuity Liability. The Company is of hope that, it can pay the gratuity as and when it falls due on termination / retirement of eligible employees. During the year, the company paid NIL towards Gratuity for the retiring / resigning employees.”

2.a Details of related parties: Description of relationship Names of related parties

Key Management Personnel - KMP Mr. Chandan Kumar, Managing Director

Mr.D.V.B.Prasad, Whole time Director

Relatives of KMP Mrs. Ratan Bai

Mr. Suresh Kumar (The amount availed by the company when Mr. Suresh Kumar was the Managing Director of the company however, no fresh loans has been taken from him after he ceased to be Managing Director during November 2014 the company shall repay the full amount back to him on or before 31st March 2017.

Mrs. Rekha Jain Mrs. Pramila Jain Mr. Naresh Kumar Mrs. Varsha Jain Ms. Bakthi Jain Ms. Pooja Jain Mr. Darshan Jain

Companies / Firms in which the Key

Management Personnel / their relatives are Akash Housing interested

Darshan Housing Infrastructure Limited Influence Enterprises India Private Limited Vijay Shanthi Developers Pvt Ltd

Note: Related parties have been identified by the Management.

3. Certain Confirmation of balances for Trade Payables, Trade Deposits, Flat Advances, Other loans & advances and Bank Balances are awaited. The accounts’ reconciliation of some parties where confirmation have been received are in progress. Adjustments for differences, if any, arising out of such confirmations / reconciliations would be made in the accounts on receipt of such confirmations and reconciliations thereof. The Management is of the opinion that the impact of adjustments, if any, is not likely to be significant. In the opinion of the Management, all current assets and loans & advances would be realized at the values at which these are stated in the accounts, in the ordinary course of business.

Note 4 Previous year’s figures

5. Previous year’s figures have been regrouped / reclassified wherever necessary to correspond with the current year’s classification / disclosure.