Baid Global Ventures Ltd. के अकाउंट के लिये नोट

Mar 31, 2010

1. Previous years figures have been regrouped and/or reclassified, wherever necessary, to conform to the current years classification.

Contingent Liability:

Nit; Previous year: Employees State Insurance Corporation has demanded Rs.154,968 towards contribution for the period from 1-4-1993 to 29-12-2000, out of which the Company has paid Rs.77,500, against which the Company has preferred an appeal before the Employees Insurance Court, Mumbai against the order under section 45-A of the Employees State Insurance Act, 1948.

2. The Company has not received the required information from Suppliers regarding their status under the Micro, Small and Medium Enterprises Development Act, 2006. Hence disclosures, if any, relating to amounts unpaid as at the year end together with interest paid/payable as required under the said Act have not been made.

3 Segment Reporting:

In the opinion of the management, since the Company is engaged in the business of furniture items, there are no separate reportable segments as per Accounting Standard 17 "Segment Reporting*.

4. Related Party Disclosures as per Accounting Standard 18 "Related Party Disclosures" (related party are identified by the management of Company and relied upon by the auditor):

a) Key Management Personnel:

Shri Jehangir T. Nagree - Chairman & Managing Director

b) Relatives:

Mrs. Shakera J. Nagree - Director - wife of Shri Jehangir T. Nagree

Ms. Amberine J. Nagree - daughter of Shri Jehangir T. Nagree and Mrs. Shakera J. Nagree

Dr. Pervez T. Nagree - brother of Shri Jehangir T. Nagree

Particulars of Enterprises over which any person described in (a) and/or (b) above or other Directors of the Company has control and/or substantial c interest in voting power:

The Workshop (upto 31-5-2009)

Workshop Furniture Ltd. (from 1-6-2009)

BlueMoon Commerce & Credit Pvt. Ltd.

The Living Room Designers

Contour International

The Living Room

Flroz T. Nagree & Jehangir T. Nagree (Joint Account)

Garden Construction Company

Banoo Turabali Foundation

Sky Line Estate FVt. Ltd.

Kirrt Damania

Perfect Engineering Associates Pvt. Ltd.

5. The Company has transferred its Undertaking (consisting of the entire business carried on by the Company under the name and style of LivingRoom Lifestyle Limited along with all its assets, liabilities, rights, interest, licences, and permissions, registrations certificates excluding cash and bank balance and unclaimed dividend account, provision for taxation, advance income tax and tax deducted at source and the brand name The LivingRoom on 18-2-2010 to BlueMoon Commerce & Credit Pvt. Ltd. for Rs.159,00,000 under slump sate on a going concern basis. The loss thereon of Rs.65,96,953 has been treated as an extraordinary item in the Profit and Loss Account for financial year 2009-2010.

6. In the opinion of the management, Current Assets and Loans and Advances are approximately of the value stated If realised in the ordinary course of business and provision for depreciation and liabilities are reasonable and not In excess of the amount reasonably necessary. Debtors, advances, deposits and creditors are subject to confirmation.