Notes to Accounts of Infraquest International Ltd.

Mar 31, 2013

1. In the option of Board Of Director, current assets, loans and advances have been valued on realisation in ordinary course of the business at least equal to the at which they are stated in the Balance Sheet and that the previsions for known liabilities is adequate and reasonable. There is no Contingent Liabilities.

2 Balances of Debtors, Creditors, Loans & Advances are subject to confirmation and reconciliation.

3. Previous year''s figures have been regrouped rear ranged wherever necessary

4. The additional information as required by Part-n of Schedule-VI to the Companies Act, 1956 :

Information regarding expenditure in Foreign Currency, remittance in Foreign Currency on account of dividend to non-resident, shareholders, earnings in Foreign Exchange, value of imports, closing stock, opening stock, raw material consumption, sales and information regarding employee - NIL.

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Mar 31, 2012

1. In the option of Board Of Director, current assets, loans and advances have been valued on realisation in ordinary course of the business at least equal to the at which they are stated in the Balance Sheet and that the provisions for known liab'lities is adequate and reasonable. There is no Contingent Liabilities.

2. Balances of Debtors, Creditors, Loans & Advances are subject to confirmatjon and recondliation.

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

4. The additional information as required by Part-II of Schedule-VI to the Companies Act, 1956: Information regarding expenditure in Foreign Currency, remittance in Foreign Currency on account of dividend to non-resident, shareholders, earnings in Foreign Exchange, value of imports, closing stock, opening stock, raw material consumption, sales and information regarding employee - NIL.

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Mar 31, 2011

1. Figures of previous year have been regrouped / reclassified wherever necessary.

2. In the option of Board Of Director, current assets, loans and advances have been valued on realisation in ordinary course of the business at least equal to the amount at which they are stated in the Balance Sheet and that the provisions for known liabilities is adequate and reasonable. There are no Contingent Liabilities.

3. Balances of Debtors, Creditors, Loans & Advances are subject to confirmation and reconciliation.

4. In view of losses incurred by the Company no provision for Income Tax has been considered necessary.

5. There is no amount overdue and remaining unpaid to small scale and ancillary industrial suppliers on account of the principal and/or interest as at the close of the year. This disclosure is based on the information available from the Company regarding the status of the suppliers as defined under the interest on delayed payments of Small Scale and Ancillary Industrial Undertaking Act, 1993.

6. The investments held by the Company were sold during the year for an aggregate value of Rs. 12,00,000/- resulting in a Loss on sale of investments worth Rs. 1,08,00,000/- which has been shown as Extra Ordinary Item under the Financial Statements for the year.

7. Rent deposit (previous year Rs.10 Lacs) given to Director, has been squared off in the current Financial Year.

8. The provision of Industries (Development and Regulation) Act, 1951 relating to licensed capacity is not applicable.

9. Segment Reporting :

Company's main activity is dealing in software and it is the main revenue generating activity i.e. only the business segment. Hence segment reporting as required by AS - 17 is not applicable.

10. Related Party Disclosure : (i) Relationships

a) Key Management Personnel : Sanjay Jhalani Director

(ii) Transactions with the related parties referred in (i) above are in ordinary course of business.

Expenses / Remuneration to key Managerial Personnel : Nil

11. Deferred Tax Liability :

In accordance with the Accounting Standard-22 'Accounting for Taxes on Income' issued by the Institute of Chartered Accountants of India, the Company has not provided for deferred tax during the year.

12. Other expenses include Rs.18000/- Auditor's Remuneration towards services.

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Mar 31, 2010

1. Figures of previous year have been regrouped / reclassified wherever necessary.

2. In the option of Board Of Director, current assets, loans and advances have been valued on realisation in ordinary course of the business at least equal to the at which they are stated in the Balance Sheet and that the provisions for known liabilities is adequate and reasonable. There is no Contingent Liabilities.

3. Balances of Debtors, Creditors, and Loans & Advances are subject to confirmation and reconciliation.

4. Pursuant to the order of the Honorable M.P Court, Share Capital of the Company has been reduced by Rs. 17,25,00,000 and necessary accounting entries have been passed in the books of accounts of the Company.

5. In view of losses incurred by the Company no provision for Income Tax has been considered necessary.

6. There is no amount overdue and remaining unpaid to small scale and ancillary industrial suppliers on account of the principal and/or interest as at the close of the year. This disclosure is based on the information available from the Company regarding the status of the suppliers as defined under the interest on delayed payments of Small Scale and Ancillary Industrial Undertaking Act, 1993.

7. Fall in the market value of quoted investments, as at 31st March, 2009 in the opinion of the management is not permanent in view of the nature of investments and accordingly no provision has been made fort the diminution in the value of quoted investments.

8. Rent deposit represents Rs. 10 Lacs (previous year Rs. 10 Lacs) given to Director.

9. The provision of Industries (Development and Regulation) Act, 1951 relating to licensed capacity is not applicable.

10. Segment Reporting :

Company's main activity is dealing in software and it is the main revenue generating activity i.e. only the business segment. Hence segment reporting as required by AS - 17 is not applicable.

11. Related Party Disclosure : (i) Relationships

a) Key Management Personnel : Sanjay Jhalani (Director)

(ii) Transactions with the related parties referred in (i) above are in ordinary course of business.

Expenses / Remuneration to key Managerial Personnel: Nil

12. Deferred Tax Liability :

In accordance with the Accounting Standard-22 'Accounting for Taxes on Income' issued by the Institute of Chartered Accountants of India, the Company has not provided for deferred tax, since the Company did not earn any profit during the year under review.

13. Other expenses include Rs.18000/- Auditor's Remuneration towards services.