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Name RIVIEREA DIAMONDS PVT. LTD.

Status Domestic Company

PAN AADCR 5062KDate Of Incorporation 29.01.2007

Previous year ending 31.03.2009

Assessment Year 2009 - 2010

STATEMENT OF TOTAL INCOME

PROFIT & GAINS FROM BUSINESS & PROFESSION:

Net profit/(Loss) as per P&L A/C 434,224

Add: Deferred Tax 107566Add: Preliminary Expenses written off 8000

Add : Depreciation as per company's Act 126982

Add : Provision for current Tax 50000

Add : Provision for FBT 3596 296,144

730,368

Less: Miscellaneous Expenditure allowable U/S 35 D 2000

Less: Depreciation as per Income tax Act 276928 278,928

Total Income /(Loss) 451,439

Rounded Off 451440

Less: Brought Forward Loss from A/Y 2008-2009 adjusted 318710

TOTAL TAXABLE INCOME 132730

Tax due on Total Income 39819

Add:- Surcharge -

Add:- Education Cess 1195

Tax LIaibility 41014

Add :- Interest U/S 234 B 2221

Interest U/S 234 C 1870 4091

Net Tax Payable 45105

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RIVIEREA DIAMONDS PVT. LTD.

BALANCE SHEET AS AT 31st MARCH, 2009

SCHEDULE As at 31.03.2009 As at 31.03.2008

(Rs.) (Rs.)

I. SOURCES OF FUNDS

SHARE HOLDERS FUNDS A

Share Capital 100,000 100,000

RESERVES & SURPLUS 282,796 -

LOAN FUNDS

Unsecured Loans

From Directors 5,696,711 6,009,500

From shareholders 17,976,194 12,625,500

DEFFERED TAX LIABILITY 107,566 -

24,163,267 18,735,000

II. APPLICATION OF FUNDS

FIXED ASSETS B

Gross Block 2,203,453 2,054,240

Less: Accumulated Depreciation 198,070 71,088

Net Block 2,005,383 1,983,152

INVESTMENTS

God Idols of Precious Metal 16,995 16,995

CURRENT ASSETS, LOANS & ADVANCES C

Current Assets

Inventory 19,697,724 18,497,732

Cash & Bank Balances 2,674,667 745,041

Sundry Debtors - 88,064

Loans & Advances 599,151 681,667

22,971,543 20,012,503

Less: CURRENT LIABILITIES &

PROVISIONS D 830,654 3,437,078

Net Current Assets 22 140 889 16 575 425

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PROFIT & LOSS ACCOUNT FOR THE YEAR ENDED 31st MARCH 2009

2008-2009 2007-2008

SCHEDULE (Rs.) (Rs.)

INCOME

Sale of Ornaments 35,100,084 12,489,838

Other Income

Job Charges - 5,749

Bank Interest 13,986 -

Discount Received 196,170 -

35,310,240 12,495,587

EXPENDITURE

Cost of Ornaments sold:

Opening stock 18,497,732 -

33,258,085 29,624,243

51,755,817 29,624,243

Less: Closing stock 19,697,724 32,058,093 18,497,732 11,126,511

Administrative and Other Overheads F 1,762,221 1,416,533

Depreciation 126,982 71,088

Miscellaneous expenses written off 8,000 2,000Interest on Unsecured Loan 759,558 -

34,714,854 12,616,132

Profit/(Loss) BEFORE TAX 595,386 (120,545)

Add : Provision for Taxation

- Current Tax 50,000 -

- Fringe Benefit Tax 3,596 -

- Deferred Tax 107,566 161,162 - 4,972

Profit/(Loss) AFTER TAX 434,224 (125,517)

Profit / (Loss) brought forward (151,428) 25,911

Profit/(Loss) CARRIED TO BALANCE SHEET 282,796 (151,428)

Basic and Diluted Earning Per Share 43.42 12.55

See Note no. 5 of schedule 'H' to accounts

Purchase (including direct attributable expense)

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SCHEDULE : B

FIXED ASSETS 2008-2009

(Amount in Rs.)

PARTICULARS

GROSS BLOCK DEPRECIATION NET BLOCK

As at 01/04/2008

(Rs.) (Rs.) (Rs.) (Rs.) (Rs.)

Computers 111,901 - 111,901 12,102 17,669 - 29,771 82,130 99,799

Office Equipment & Appliances 1,377,692 29,212 - 1,406,904 35,660 67,867 - 103,527 1,303,377 1,342,032

Furniture & fittings * 564,648 120,000 - 684,648 23,326 41,446 - 64,772 619,876 541,322

-

TOTAL 2,054,241 149,212 2,203,453 71,088 126,982 198,070 2,005,383 1,983,153

ADDITIONSDURING THE

YEARSALE /

TRANSFERAs at

31/03/2009UP TO

01/04/2008FOR THEYEAR

DEDUCTIONS/ADJUSTMENTS

UP TO31/03/2009

AS AT31/03/2009

AS AT31/03/2008

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SCHEDULES FORMING PART OF THE BALANCE SHEET

As at 31.03.2009 As at 31.03.2008

(Rs.) (Rs.)

SCHEDULE - A: SHARE CAPITAL

AUTHORISED

10000 Equity Shares of Rs. 10/- each 100,000 100,000

ISSUED, SUBSCRIBED & PAID UP 100,000 100,000

10000 Equity Shares of Rs. 10/- each, fully paid up

100,000 100,000

SCHEDULE - C : CURRENT ASSETS, LOANS & ADVANCES

Current Assets

Inventory - Trading goods (as valued and verified by management)Jewellery 3,662,804 3,219,141

Gold 9,410 11,749,287

Silver 102,801 -

Diamonds & Stones 15,922,709 19,697,724 3,529,304 18,497,732

Cash & Bank Balances

Cash in Hand 186,633 478,740

Balance with Scheduled banks in current account 2,488,035 2,674,667 266,301 745,041

Sundry Debtors ( Considered good)

More than six month - -

Others - - 88,064 88,064

Loans & Advances

( Unsecured & Considered good)

Advance recoverable in cash or in kind or for value 40,053

to be received - 13,474

Capital Advances for Assets - 50,000

Advance to Suppliers 24,098 84,693

Security Deposits 535,000 599,151 533,500 681,667

22,971,543 20,012,504

SCHEDULE - D : CURRENT LIABILITIES AND PROVISIONS

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2008-09 2007-08

(Rs.) (Rs.)

SCHEDULE- F

ADMINISTRATIVE AND OTHER OVERHEADS

Audit Fee 22,472 22,472

Advertisements 34,638 46,039

Bank Charges & Interest 165,066 54,128

Books & Periodicals 6,000 12,204

Business Promotion - 13,609

Conveyence - 38,380

Director Remuneration 180,000 160,000

Electricity & Water 131,628 100,273Insurance Charges 83,009 89,225

Legal & Professional - 250

Office Maintenance 97,395 116,002

Other Expenses 25,112 305

Postage & Telegram 283 200

Printing & Stationery 25,327 27,366

Provision for Long term Employee's Benefits - 15,000

Rates & Taxes 1,188 32,105

Rent 114,000 114,000Salaries 792,350 519,176

Staff Welfare 13,349 17,285

Telephone 40,043 23,804

Tour & Travelling 30,362 14,710

-

1,762,221 1,416,533

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Information pursuant to part IV of Schedule VI of the Companies Act, 1956 Balance Sheet

Abstract and Company's General Business profile.

I. Registration details

Registration No. U36912DL2007PTC158468 State Code 55

Balance Sheet Date 31.03.2009

II Capital raised during the year (Amount in '000)

Public issue Nil Right Issue Nil

Bonus Issue Nil Private placement Nil

III Position of Mobilisation and Deployment of Funds (Amount in '000)

Total Liabilities 24163 Total Assets 24163

Sources of Funds

Paid up Capital 100 Reserves & Surplus 283

Share Application money NIL Deferred Tax 108

Secured Loan NIL

Application of Funds

Net Fixed Assets 2005 Investments 17

Net Current Assets 22141

Profit and loss account 0

IV Performance of the Company (Amount in '000)

Turnover 35310 Total Expenditure 34715

Profit/(Loss) before tax 595 Profit/(Loss) after Tax 434

Earning per share (Rs)* 43 Dividend Rate % Nil

* Earning per share have been calculated by dividing profit after tax by the weighted average no. of

equity shares as at the year end.

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Calculation of Deferred Tax Assets/(Liability) as on 31.03.2009

Time Difference

As per As per

Acounts Income Tax Difference @ 30.90 %Deferred Assets

Unadjusted Depreciation/Loss Carried forward - - - -

Provision for Long term employee's benefits - 15,000 15,000 4,635

- 15,000 15,000 4,635

Deferred Liability

Fixed Assets WDV 2,005,383 1,642,273 363,110 112,201

- - - -

2,005,383 1,642,273 363,110 112,201

DIFFERENCE (2,005,383) (1,627,273) (348,110) (107,566)

Net Deferred Tax Liability as on 31.03.09 (107,566)

Less : Already provided upto 01.04.2008 -

Deferred Tax Liabilty to be provided for the Year (107,566)

Deferred TaxFigure

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Quantitative detail of Closing Stock as on 31.03.2009

Class of GoodsPurchase (qty) Closing stock (qty.)

DIAMONDS JEWELLERY

ASMI 44 Pcs 18 Pcs 39 Pcs 23 Pcs

D DAMAS 344 Pcs 419 Pcs 387 Pcs 376 Pcs

RIVIEREA 1 Pc 1 Pcs - 2 Pcs

SCINTILLATING - 25 Pcs 25 Pcs NIL

RD SOLITAIRE - 2 Pcs (4 crt) 2 Pcs NIL

SILVER JEWELLERYRD SILVER - 14089.063Pcs 7664 Pcs 6425.063 Pcs

GOLD JEWELLERY

D DAMAS GOLD 4 Pcs - - 4 Pcs

RD GOLD 22 K 10810.204 Gms 12141.597 Gms 13649.654 Gms 9302.147 Gms

RD GOLD 18 K 1094.950 Gms 1929.794 Gms 2432.527 Gms 592.214 Gms

BEADS & STONES - - - 1345.458 Pcs

Srishti - 3 Pcs 3 Pcs NILPrima Art - 178 Pcs 178 Pcs NIL

RAW MATERIAL

DIAMONDS(Opening) - 298.93 CRT

ADD- Purchase during the year 221.26 CRT

- 86.600 CRT - 357.278 CRT

Gold (see note 1 below) - 754.41 Gms

Note:-1.

(Qty)( in Gms)

Gold Purchase 17460.34

LESS:- GOLD T/F AGA. PAYMENT TO KARIGAR 846.56

Opening stock

(qty.)

Sales

(qty.)

Less Utilise in diamonds production &Sold during the year

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ASSESSMENT YEAR - 2009-2010

Depreciation as per Income Tax Rules

Rate W.D.V. Addition Addition Deductions / Total Depreciation W.D.V.

Particulars of as on upto after Adjustments upto for the as on

Dep. 01.04.2008 30.09.2008 30.09.2008 31.3.2009 Year 31.03.2009

Furniture & Fixtures 10% 509,578 120,000 - - 629,578 62,958 566,620

Computer 60% 45,615 - - - 45,615 27,369 18,246

Office Equipment 15% 1,214,796 29,212 - - 1,244,008 186,601 1,057,407

Grand TOTAL 1,769,990 149,212 - - 1,919,202 276,928 1,642,273

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Details of Addition in Fixed Assets 31-Mar-09

Amount No of Days

Office Equipments

Security System 1.09.09 1.09.09 29,212 212

29,212

Furniture & Fixture

Furniture& Fitting 20.04.08 20.04.08 120000 345

120000

Date ofPurchase

Date Put toUse

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