PANDHE INFRACONS PRIVATE LIMITED

PANDHE INFRACONS PRIVATE LIMITED

G. M. Pawle

Bcom, F C A CHARTERED ACCOUNTANT

O ff i, :- 327, Sakhar Peth, Near Nagari Bank, Solapur-413005 : Offi. 2741800 Resi. :- 2741801 e-mail : g a_wl . . hotmail.com

Name of t h e C l i e n t

PANDHE INFRACONS PRIVATE LIMITED

(Formerly known as M/s A V Pandhe a partnership firm) Address 802, Krishna Building, R G Thadani Road, Worli Sagan Society, Worli, Mumbal- 400 018 Subject AUDIT REPORT 31 S ` March 2012

2012-2013 For the Year ended Assessment Year

PANDHE INFRACONS PRIVATE LIMITED (Forme.rly_known as MIs A. V. Pandhe, a partnership firm Regd. Office: 802, Krishna Building, R G. Thadani Road. Worli Sagar Society, Worli, Mumbai-400 018 NOTICE NOTICE is hereby given that the 4T" Annual General Meeting of the members of the Pandhe Infracons Pvt. Ltd. will be held at the Office of the Company at _... 157, Railway Lines, Solapur on 291" September, 2012 at 11.30 a.m. to transact the following business: ORDINARY BUSINESS. 1. To receive, consider and adopt the Balance Sheet as at 31 st March 2012 and the Profit and Loss Account for the period ended on that date and the reports of the Directors and the Auditor's thereon. To appoint the auditors of the company for the current year and to fix their remuneration.

2.

NOTES. ByorderoftheB lyd ofDirectors 1. A member entitled to attend and vote at the meeting is entitled to appoint a proxy to attend and vote instead of himself and the proxy need not be a member of the Company. Directo Solapur, 290" The proxy form duly filled in, stamped and attested should reach the Registered Office of the company at least 48 hours before the time of the meeting. September, 2012 2.

PANDHE INFRACONS PRIVATE LIMITED (Formerly known as Mls A. V. Pandhe, a partnership firm) Regd. Office. 802, Krishna Building, R. G. Thadani Road, Worli Sagar Society, Worli, Mumbai-40Q01 . 8 DIRECTOR'S REPORT Dear Members, Your directors are pleased to present their 4 t'' Annual Report together with the audited statements of accounts for the year ended 31st March 2012. OPERATING RESULTS: For the year under review your company has achieved a turnover of Rs. 351 40 crores and profit before tax of Rs. 25.57 croers. After making the provisions for tax to the extent of Rs.7.75 crores the post tax profit is reported at Rs. 18.16 crores, Your company has contracts worth Rs. 800 crores on hand and is trying its level best to secure more prestigious jobs_ DEPOSITS. Your Company has accepted and repaid temporary loans for a very short period of time. from Public as envisaged under the Provisions of Section 58A of the Companies Act. 1956. DIVIDENDS: In view of future contracts on hand and requirement of funds for completion of same. your directors do not recommend any dividend for the year under review_ PARTICULARS OF THE EMPLOYEES: There are no employees drawing such remuneration as requiring the disclosure under Section 217 (2A) (b) (ii) of the Companies Act, 1956. DIRECTORATE: Under the provisions of Articles of Associations of the Company, directors are not liable to retire by rotation. AUDITORS: The Auditor of the Company Shri G M. Pawle, Chartered Accountant. Solapur, retire at the conclusion of this annual general meeting and being eligible offer himself for reappointment. The Board recommends the re-appointment of Auditor.

DIRECTOR'S RESPONSIBILITY STATEMENT: The Directors wish to state that: In the preparation of annual accounts for the Financial Year 2011 2012, the applicable accounting standards had been followed along-with proper explanation relating to material a) departures, The directors had selected such accounting policies and applied them consistently and made judgments and estimates that are reasonable and prudent so as to give a true and fair view of the state of affairs of the company

c)

That the directors had taken proper and sufficient care for the maintenance of adequate accounting records in accordance with the provisions of the Act for safeguarding the assets of the company and for preventing and detecting fraud and other irregularities. That the directors had prepared the annual accounts on a going concern basis.

d)

Additional_ Information required______________________________under the Companies (Disclosure__ _______________________________________________of particulars in _the repprt of the Board of Directors Rules, 198_$_i_ Conservation of Energrj. Nil ii Technology Absorption: Company is trying its level best to use and adapt to modern technology wherever possible. Keeping this view the company has acquired most modern machineries Like Ready Mix Plant, Material handling equipments, modern work forms, laboratory and testing equipment etc. This will go a long way in technology development as such. iiiForeign Exchange Earnings and Outgo: Rs. Nil

Board of Directors expresses their sincere thanks to every one for contribution to the progress of the Company_ For & On Behalf of the Board of Directors,

Director Solapur, 29 `x1 September 2012

AUDITORS REPORT To, The Members of PANDHE INFRACONS PRIVATE LIMITED, SOLAPUR (Formerly known_as M I s A . V . Pan.dhe, a partnership fi.rml 1. I have audited the attached Balance Sheet of Pandhe Tnfracons Private Limited, as at 31st March 2012, the Profit and Loss Accounnt for the year ended on that date annexed thereto. These financial statements arc the responsibility of the company's management. My responsibility is to express an opinion on these financial statements based on my audit. T conducted my audit in accordance with the auditing standards generally accepted in India. Those Standards require that I plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement. An audit includes examining, on a test basis, evidence supporting the amounts and disclosures in the financial statements. An audit also includes assessing the accounting principles used and significant estimates made by management, as well, as evaluating the overall financial statement presentation. T believe that my audit provides a reasonable basis for my opinion. As required by the Companies (Auditor's Report) Order, 2003 issued by the Central Government of India in terms of sub -section (4A) of section 227 of the Companies Act, 1956, T enclose in the Anncxure a statement on the matters specified in paragraphs 4 and 5 of the said Order.

2.

3.

q. Further to my comments in the An.nexure referred to above, i report that: (i) I have obtained all the information and explanations which to the best of my knowledge and belief were necessary For the purposes of niy audit Except a) Confirmation of balances with respect to Sundry Debtors, Sundry Creditors, advances received and given. *'.-7I,SAKFIAR ) In my opinion, proper books of account as required by law have been kept by the company so far as appears from my examination of those books:PETN;QL *'iiR1 ,

The balance sheet and profit and loss account dealt with by this report are in agreement with the books of account;

iv) On the basis of written representations received from the directors, as

on. 31.st March 2012 and taken on record by the Board of Directors, 1 report that none of th.e directors is disqualified as on 31 Sl March 2011 from being appointed as a director in terms of clause (g) of subsection (1) of section 274 of the Companies Act, 1956. In my opinion, the balance sheet, profit. and loss account dealt with by this report comply with the accounting standards referred to in sub section (3C) of section 211 of the Companies Act, 1956 to extent applicable. Subject to .my comment under para (4) (a) above, in. my opinion and to the best of my information and according to the explanations given to me, the said accounts, read together with the notes thereon, give the information required by the Companies Act, 1956 in the manner so required and give a true and fair view in conformity with the accounting principles generally accepted in India: a) In the ease of the balance sheet, of the state of affairs of the company as at. 31.5' March, 201.2; In the case of the profit and loss account, of Profit for the year ended on that date.

v)

b)

Solapu r 29 t 1 1 September, 201.2

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Referred to in. paragraph 3 of my report of even date, (1.) (a) The company is under the process of compiling and updating proper records showing full particulars including quantitative details and situation of the fixed assets. b) In view of the fact stated at pares (i)(a) above 1. am unable to comment upon physical verification of fixed assets and material discrepancies being noticed upon such verification except the declaration br directors of the company that there were no such discrepancies observed. c) According to the information and explanations given to me, the Company has not disposed off any substantial. part of the fixed assets during the year. (a) The inventory has been physically verified during the year by the management. In my opinion, the frequency of verification is reasonable. (b) The procedures of physical verification of inventories followed by the management are reasonable and adequate in relation to the size of the company and the nature of its business. (e) The company is maintaining proper records of inventory at respective sites. The discrepancies noticed on verification between the physical stocks and the book records were not material. 3) In respect of the loans, secured or unsecured granted or taken by the Company to/from companies covered in the register maintained under section 301 of the Companies Act, 1956. (a) The company has given loans to companies in respect of the said loans the maximum amount outstanding at a any time during the year was Rs. 704.99 lacs and year end balance is Ps. 702.33 lacs (including interest of Ps. 38.93 Lacs)M . AA311.SA ,. E

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(b) In our opinion and according to the information and explanations given 1.o u s No securities are available and other terms and condition arc not being stipulated. Therefore I am unable to express opinion on. the terms and conditions as whether they arc prima facie prejudicial to the Interest of the company or not. c)The principal amount are payable on demand. d)in respect of the said loan there are no overdue amount e)The company has not. taken any loan during the year from companies, firms or other parties covered in register maintained under section 301 of the Companies Act, 1956, consequently the requirements of Clause (iii)(f) and (iii)(g) of paragraph 4 of the order not applicable. 4) in my opinion and according to the information and explanations given to mc, there arc adequate internal control procedures commensurate with the size of the company and the nature of its business with regard to purchases of inventory, equipment and other assets and for the sale of goods and services. During the course of my audit, I have not observed any continuing failure to correct major weaknesses in the internal control system of the company. To the best of my knowledge and belief and according to information and explanation given to me, transactions that required to be entered into the register maintained under Section 301 of the Companies Act, 1956 were not prejudicial to the interest of the company.PA

5)

The Company has not accepted deposits from public in contravention of 327,SAKH,R. section 58A of Companies Act, 1.956. ET4,30lAAL'Rp

The company has reported existence of internal audit system however appointment letter and report of Internal audit was not made available for my verification. Therefore I am unable to express opinion on internal audit system, and its scope as to whether it was commensurate with the size of the company and nature of its business. The Central Government has not prescribed maintenance of cost records under section 209 (1) (d) of the Companies Act, 1956 in respect of any of (8) activities of the company. the (9)(a) Company is generally regular in depositing, undisputed dues, including Provident Fund, Income Tax, Sales Tax, and other material statutory dues applicable to it with the appropriate authorities except the payment of tax deducted at source, service tax, Dividend

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Distribution Tax, Local 13ody Tax &, VAT which has been paid belatedly. (b) There were amounts payable raised against the company in respect of income lax, service tax, TDS, Professional Tax, l'rovidcnd Fund and other material statutory dues in arrears as at. 3 1 ti' March 2012 for a period of more than six months from the date they became payable which were paid belatedly except, Excise duly us. 60,169/ Service Tax Rs. 40,03,445/- ; Professional Tax Rs. l,41,150/ Provident Fund Its. 5, 10,848 aggregating to Rs. 17,1.8,6 J2/- remained unpaid. 10) The company does not. have accumulated losses and has not incurred cash losses during the financial year covered by my audit. In my opinion and according to the information and explanations given to me, the company is generally regular in repayment of dues to banks and financial institutions.

11)

(]2) In my opinion and according to information and explanation given to me, the company has not granted any loans or advances on the basis of securities by way of pledge of shares, debentures and other securities. 13) In my opinion, the company is not a chit fund or a nidhi/mutual benefit fund/society. Therefore, the provisions of clause 4(xiii) of the Companies (Auditor's Report) Order, 2003 are not applicable to the company. In my opinion, the company is not dealing in. or trading in shares, securities, debentures and other investments. Accordingly, the provisions of clause l(xiv) of the Companies (Auditor's Report) Order, 2003 are not applicable to the company. As informed to .me, the Company has not given any guarantees for loans taken by others from banks or financial institutions. In my opinion the term loans have been generally applied for the purpose for which they were raised.

14)

15)

16)

(1 7) According to the information and explanations given to me and on an overall examination. of the balance sheet of the company, I report that. no funds raised on. short-term basis have been used for long term investment. No long-term funds have been used to finance short-term assets except permanent working capital. (18) The Company has not made any preferential allotment during the year. of shares

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The company has not issued any debentures during the year. The Company has not raised any money by public issues during the year.

21) Based on m audit procedures performed and information explanation given by the management, no fraud on or by the Company has been noticed or reported during the course of my audit.

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G. M. Pawle tiE0 a.Gcc`r Chartered Accountant M. No. 32561 Solapur 29~' September, 2012

PA N D HE IN FR A C ON S PR IV A TE LIM ITED ( For me r l y kn ow n a s M/s A V I'a n d h e , a p a r t n e r s h i p f ir m) Re gd . Of f ic e : 8 0 2 , Kr ish n a Bu ild in g, R C T ha da n i Roa d , Wnrli Sa ga r S oc ie ty, Wor th Mu n) b a i 1 0 0 0 1 8 BA LA NC E S HEET AS A T 3 1S T MA RC H, 2 0 1 2 Sr . No A T ( A. 1 1 'l'Y A:` 1) l, I A1 3 I l, [ T 1 1( S 1 Shareholders' funds (a :, ) S h a r e Ca p ita l (b ) Re ser ve s an d s u r p l u s (c ) Mon e y r ec e ive d a ga in st. s h a r e w a r r a n t s S h a r e ap p li. mo n e y pe n d in g a llot me n t Particulars Nato N o. As at 3 1 st Mar c h 2012 As a l 3 1 s t Ma rc h 2()1 l

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In terms

my report attached.

PANDHE INFRACONS PRIVATE LIMITED [formerly known as M/s A V Pandhe, a partnership firm) Regd. Office: 802. fkrishna Building, R G Thadani Road, Worli Sagar Society. Worli. Murnbai-400018

STATEMENT OF PROFIT AND LOSS FOR THE YEAR ENDED 31 March, 2012 Sr. Note No. For the y ear ended 31st March .2.01 2

Seven . uc from operations (gross) Other income Total revenue (1 +2) 4 Expenses

20

21

35 1 401 3(330.4 55 318418.35 3569362058.02 272618701 3,67 330787772,19 20665542,00 1325964.00 2246b7708.5I 33036611000.40 265698057.62 0.00 265698057.6:2 26569805 1 /.62

3010291.521.38 231 35860.29 3 0 3 3 2 7 3 -8 1 .67 2342508081,83 20542267991 15584057.00 00659.0(1 441988.00 21 . 4536 265.2 7 2778402416.01 2550 2 .965.66 0.00 255024965.6(3 255024965.66 84500000.00 0.00 (].00 84500000.00 13830000.00 1 56(394965.66

Cost of Goods Sold 22 m v r ep o r t a t t a (f) e d . c h Finance costs on behalf of the Hoare) of Directors23 ] r oe and

(g) Depreciation and amortisation expense PA t 1 Depreciation for the year 1)ircetor 3'17,SA 'ta n v l e Chartered A c C O U 0E T H,S O L 4 2 1 Depreciation Written back ? 1 3Misc. Expenses Written Off 0 05 Place : S o lo p o r n ~ , 1 HIo ons61 Other expenses te : 2 9 1 h S ep . 2 0 1 .4 (h) 0 / L D

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Total expenses 5 Profit / (Loss) before exceptional and extraordinary items and tax (3 - 4) 6 Exceptional items .7 Profit / (Loss( before extraordinart items and tax (3 +6) 8 Extraordinary items 9 Profit / (Loss) before tax (7 -+ 8) 10 Tax expense (a) Current tax expense for current year (b) (Less): MAT credit (c) Tax expenses relating to prior years (d) Net cur r ent tax expense (c) Deferred tax I1 Profit / (Loss) from continuing operations (9 C 1.0) 12 Profit / (Loss) from discontinuing operations

77500000.00 0.01} 0.00 77500000.00 6576000.00 181622057.62

13 Add / (Less): Tax expense of discontinuing operations 14 Profit/(loss) from discootinuingoperations 0.00 181622057.62 15 Profit / (Loss) for the year (11 + 13) 16.i Earnings per share (of 10/ each): (a) 13asic (b) Diluted Notes forming part of the financial statements 6.67 1 28 5.75 0.00 156094965.66

Cl. M. PAWI,E Chartered Accot.m Lint Place : Solapur Date : 29th Sep. 2.012 a

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PANDHE INFRACONS PRIVATE LIMITED (Formerly known as M/s A. V. Pandhe, a partnership firm) Regd. Office: 802, Krishna Building, R. G. Thadani road, Worli Sagar Society, Worli, Mumbai 400 018 ------------

NOTES FORMiNG PART OF TITE ACCOUNTS

Year Ended: 31Y March. 201 2 l

. STATEMENT OF STGNIFTCANT ACCOUNTING POLICIES 1.1 BASIS OF PREPARATION OF FINANCIAL STATEMENTS: a. The financial statements have been prepared in accordance with all material aspects with notified Accounting standards by Companies (Accounting Standards Rules, 2006 and the relevant provisions of the Companies Act, 1956. b. The financial statements are based on historical cost convention and arc prepared on accrual basis. However, on crystallization of Liability petty revenue expenditure/ income may have been debited / Credited on the bases of cash payment / receipt. ilowever considering the principles of materiality and volume of the activity the effect of these items on the accounts is negligible. c. Accounting policies have been decided to be followed consistently. d The preparation of financial statement is in conformity with generally accepted accounting principles requires management to make estimates and technical and other assumptions that affects the reported amount of assets and liabilities and disclosure of contingent liabilities at the date of financial statements are the results of preparations during the reporting period end. Although these. estimates are based upon management's best knowledge of current events and actions, actual. result could differ from. these estimates. 1 ..2 FIX. lfi) ASSETS:

Fixed assets acquired during the year are stated at the cost of acquisition including interest and financial costs attributable till the date of acquisition and/or installation of the assets and improvements thereon less accumulated Depreciation and/or Amortization. 1.3 DEPRECIATION: PAr121,5AKHAR

in respect of Buildings, Plant and machinery, Heavy Vehicles, Light Vehicles and other assets depreciation has been provided on Straight Line Method on. pro rata basis with PETH S O L 7 7 41aC05 respect to the date of additions/put to use/deletions of respective assets at the rates specified in the Schedule XIV to the Companies Act, 1956.~ , , 1 , t O 3 ? S 6 1 In respect of computers depreciation is provided on straight line method over a period of three years on pro rata basis.

Software and implementation costs including web designing and other application software costs arc amortized over a period of 3 years. .I .A INVESTMIE;NTS: Company has investment by way of shares in cooperative banks only which arc stated at the cost of acquisition. Earning from investments is accounted for on receipt basis. 1.5 INVENTORIES: The methods of valuation of inventories as followed by the erstwhile partnership firm were as follows and after conversion company has also followed the same: a. Closing Stock of Raw Materials and consumables arc valued at the cost of acquisition on FlifO method. b. Work in Process i.e. construction works not yet completed are valued al cost plus expenses proportionate to the stage of completion. c. The stock of buildings completed and booked by the customers pending execution of the sale deed and/or possession arc valued at the agreed booking price and those not yet booked by the customers and/or unsold are valued at estimated realizable value. d. 13alancc of unsold/unused portion of land is valued at cost of acquisition plus proportionate development expenses incurred thereon. e. Damaged/unserviceable material or scrap is accounted for on the basis of actual realisation, if any. 1.6 SALES: Sales in respect of flats, buildings etc. are accounted on. the basis of completion of building and receipt of lull price and/or possession given to the customers irrespective of the date of execution of sale decd, in respect of old projects. Company has adopted percentage completion method to recognize the revenue and accordingly revenue is booked on proportionate completion being reached over 30% of the estimated cost as per AS 9 in respect of sale of flats. Revenue. from contract receipt is recognized on the basis of percentage completion method, stated on the basis of physical measurement of work actually completed at the balance sheet date taking into account the contractual price and revision thereto by estimating total revenue and total cost till completion. of the contract and profit so determined has been. accounted for proportionate to the percentage of actual work clone. Claims in. respect escalation etc. are accounted as income in the year of acceptance by clients or evidence of acceptance received.

2.7 SECURITY i)E,POSIT: Securil:y/earnest money deposit paid and/or deducted from the contract receipts arc accounted for on the basis of payments and/or deduction and shown as receivables irrespective of there possibility of rccovex~- in future period. When recovered the amount is deducted from. such receivables and if not recovered, will be written off. I .8 EMPLOYEE R1fTINI:MItNT___BENEFITS:

Gratuity is accounted for on. actual payment basis. No provision is made for gratuity on actuarial basis and hence its effect on profit or loss cannot he ascertained. Retirement I3cnelt in the form of Provident Fund and Pension. Schemes arc accounted for on accrual basis and charged to the Profit & Loss Account of the year. heave Encashable on retirement is being accounted for as and when it is due for payment. 1 .9 FO121E;I(IN CURRENCY TRANSACTiON: Vorcign exchange. transactions are converted into Indian rupees at the prevailing rates on tiro date of transaction. Gains or losses arising out of remittance./translation related to revenue transactions at the year end are credited/debited to the profit and toss account. 1.10 EVENTS OCCURRiNG AFTER I3ALANCE SI I U T DATE: According to the verdict. of Hon.. Supreme Court in. iA/2/201.2 in Petition for Special Leave to Appeal (Civil) Nos. 1 7 7 0 9 / 2 0 1 2 dt. 28.08.2012 wh.ic.h has been delivered in favour of Govt. of Maharashtra against the verdict of Bombay lligh Court. Company h.ad become liable to pay Maharashtra Value Added Tax in respect of its activity of construction of flats, dwellings, buildings or promises and transfer them in pursuance of an. agrcemenl along with land for which date of payment is granted till 30.10.201 .2 for transactions effected bctwccn 2006 to 2012. Company is i.n the process of computing the liability and at this stage the same is not quantified. 1,11 BORROWINGCOST: Borrowing costs that are attributable to the acquisition, construction or production . of a qualifying asset are capi.talizcd. Other borrowings costs are expensed out. 1.12 TAXES ON INCOME:MPf

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Z a) Deferred tax is recognized on timing differences between the ) accounting income 4 . p' J S5 ' 1/ 1N . 2 1 and the taxable income for the year. The tax effect is calculated on accumulated timing differences at the end of accounting period based on prevailing enacted or subsequent: enacted regulations.4 13Co~

b) Particulars T3a]ance as on 31.03.201 1. 138.30 0.00 138.30 0.00 0.00 138.30 138.30 Arising during the year 7 l.85 0.00 74.85 0.00 9.09 9.09 65.76 13alancc as on 31.03.201`2.

A. Deferred Tax Liabilities: on. account of timing difference in depreciation Others Sub Total A: B. Deferred Tax Assets Unabsorbed depreciation and losses Disallowances Sub Total 13: C. Deferred Tax Assets/ biab (13 A)

213.15

0.00 213.15 1 0. C)0 9.09 9.09 204.06

Provision for current tax is made on the basis of taxable profits computed for the current accounting period in accordance with The Income Tax Act. 1961 Advance taxes and provisions for current income tax arc presented in the balance sheet after offsetting advance taxes paid and Income Tax provision arising in the same tax jurisdiction and the company intends to settle the assets and liabilities on a net basis. 1 .1. 3 PRIOR PERIOD EX.PIfNSES: There are no such prior period expenses or incomes recorded during the current year. 1.14 CONTTNGI';NT JAAI3I1,ITII'IIS: No provision is made for liabilities which are disclosed by way of votes, if found material. % O32l,SAKHAR FETR, 50tAPl~'R contingent in 413005 nature, M.hlo.032561 A C i t

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P A N DH E IN F R AC O N S PR I VA T E L I M I TE D (For merly knoc vti its NI s A. V. Pondhe, a partnership Finn) Regd. Office: 802. Krishna Build ing, R. G. Thatdani Road, 117or li S u ga r S oc ie ty, Wish . Mt. I mb a i 1 0 0 0 1 8 N ote s f o r min g pa r t of t he f in a nc ia l s t a t e m e n t s N ote 2: Sh ar e C ap it a l Sr . N o. P ar tic u lar s As al. 3 1 st: Mar c h 7 0 1 2 Va lu e in N o. N u mb e r of shares 30,00,000 30,00,00,000 As 'It 3 1 st Ma tn h 20 11. V a lue in 12s. N u mb e r of sh a r t's 30,00.000 3 0, 00 .0 0. 00 0

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r igh ts ( c) S ub sc r ibe d an d fu lly p a id up Ca p it a l E q u it y s h a r e s of 1 0 / ea ch with voting r igh ts ( d) S u Isc 'r ib e d b u t n ot fu ] Iv p a id u p T ota l a.

2,72.50,000

2 7 2 5 0( 1 0 0 1 )

2.112.50.000

2 1 /2500000

2 7 '2 5 0 0 0 0 0

272500000

R e c o n c i l i a t i o n o f th e Sh ar e s o u t s t a n d i n g a t th e be g in n in g an d at t he en d of th e r ep or t in g pe r iod E Cillit y s h a r e s N o. of s h a r e s o u t s t a n d i n g a t the he gin n in g of th e ve a l Ar ld fu r th e r i s s u e d ur in g the p e r iod N o. of s h a r e s o u t s t a n d i n g a t the en d of th e pe r iod T e r m s / r i g h t s a t t a c h e d to sh a re s N o of Sh ar e s 2,72,50.000 V a lue in 2 s. 2% 5 0 0 0 0 0 0

b.

2,72,50,000

2 1 5 0 ( 1 0 {1 0 0 p er sh a re , Ea c h holde r of

T he comp an y ha s on ly on e cla ss of equ ity share s havin g a par va lu e of N o. I0.' e qu ity sh a re is en title d to on e vo te pe r sha r e . T h e c omp a n y d ec la re s a an c l p a ys d ivid e n d s in In dia n Rupee s_ T he d ivid e n d pr op s oe d b y th e H oa r d of D ir ec tor s is su bj ec t to ap p r ova l of th e s h a r e h o l d e r s in the e nsuing An n u a l ( Ge ne ra l :Mee tin g In the (" ve n t of liq u id a tion of th e c omp a n y, th e h old e r s of e q u ity s h a r e s will h e en title d lu r ec eive the r e ma in in g a s s e t s or Ihe- c o mp a n y af ter d istr ib u ti on of a ll p re fe re n tia l iir n ou ms. The d istr ibuti on be in pr op or t io n to n u mb e r of e q u ity s h a r e s he ld b y the s h a r e h o ld e r s. c . Sh ar eh o ld in g of mo r e t ha n 5% S r, N a me of th e Sh ar c 'le ild e r N o. 1 An d V asa n tra n P an d h e H ill- itit' An il 0 a n d ltc As a t 3 . l st Ma rc h 2 0 1 2 "-o h e ld N o. o1 s h a r e s 40.37 1,10,00.000 '10.22 1,09,00,000 As of 3 1 st Ma r c h 201 1 h e ld No, of sf7.tarc5 0.37 1.10,00.000 (1.22 1,09,60,(100

d. e. f.

Sh ar e s r e s e r v e d fo r issu e un de r o p t i o n s Emp lo y ee s St oc k Opt io n S ch e me Bo n u s s h a r e s / B u y R ac k/S h a r e s f or c on sid er a t io n ot he r th a n ca sh issue d du r in g p a st f iv e y e ar s

N i] N il N il

PANDHE INFRACONS PRIVATE LIMITED Note 3: Reserves and Surplus Sr. Part icl.ilars As at 3 I st. As at3It>I

No. -I-Share Premium ii Capital Reserve Surplus as per statement of profit and loss Rotation brought folwtuiel Add : Profit/loss for the period Less Proposed Dividend Less Tax on Dividend Closing balance Total Note 4 : Long-term borrowings Sr. No. Particut;n'5

March 201 ;2 v)ar'clr 201 1 237500000.0() 2 ;'7;100000.00 01.00 0.00

233 1.38697.08 I81622067.12 0 - 00 0-00 43 4 176075 1.70 672260751.70

105716190. Li 1; 689 1942.06 817.5000.1)0 1367 763,010 2:73 . 19063869 1 i (18 O8

Non C:i Trent Portion Asat3lst As at l l s l March 2012 March 20 t l 61507372.84 26353297 1.33 325040344 - .17 97220206.13 63084006.22 60334212 65

(aJ Term Loans From banks secured f 100 other parties secured Grand Total

4.1 Additional. information to Secured / Unsecured Borrowings The long lion] portion of t