VEDANTU INNOVATIONS PRIVATE LIMITED

FIRST FLOOR, YSR MANSION, BELLANDUR GATE, SARJAPUR ROAD, BANGALORE (KARNATAKA)
Balance Sheet as at 31 March, 2012
in Rs.
Particulars Note No. As at 31 March, 2012

A EQUITY AND LIABILITIES

1 Shareholders’ funds -3,050,044

(a) Share capital 3 100,000
(b) Reserves and surplus 4 -3,150,044
(c) Money received against share warrants -

2 Share application money pending allotment 3,845,000

3 Non-current liabilities -
(a) Long-term borrowings -
(b) Deferred tax liabilities (net) -
(c) Other long-term liabilities -
(d) Long-term provisions -

4 Current liabilities 1,036,403

(a) Short-term borrowings -
(b) Trade payables 6 19,088
(c) Other current liabilities 7 294,152
(d) Short-term provisions 8 723,163
TOTAL 1,831,359

B ASSETS

1 Non-current assets 1,640,671

(a) Fixed assets 1,440,671
(i) Tangible assets 9 1,440,671
(ii) Intangible assets 10 -
(iii) Capital work-in-progress -
(iv) Intangible assets under development -
(v) Fixed assets held for sale -

(b) Non-current investments -

(c) Deferred tax assets (net) 5 -
(d) Long-term loans and advances 11 200,000
(e) Other non-current assets -

2 Current assets 190,688

(a) Current investments -
(b) Inventories -
(c) Trade receivables -
(d) Cash and cash equivalents 12 76,768
(e) Short-term loans and advances 13 60,000
(f) Other current assets 14 53,920
TOTAL 1,831,359
Notes form part of the financial statements.

As per our report attached

for SUSHIL K SINGLA & Co. For and on behalf of the Board of Directors
Chartered Accountants Vedantu Innovations Private Limited
Firm's Registration Number:001023N
sd/- sd/-
Vamsi Krishna Anand Prakash
sd/- (Director) (Director)
(Sushil K Singla)
Partner
Membership No. 80846
Place : Panchkula
Date : 23/08/2012
 VEDANTU INNOVATIONS PRIVATE LIMITED
FIRST FLOOR, YSR MANSION, BELLANDUR GATE, SARJAPUR ROAD, BANGALORE (KARNATAKA)

Income and Expenditure A/C for the period from 29th October, 2011 to 31 March, 2012
in Rs.
Particulars Note For the period from
No. 29th October to 31 March, 2012
A CONTINUING OPERATIONS

1 Revenue from operations (gross) -

Less: Excise duty -
Revenue from operations (net) -

2 Other income -

3 Total revenue (1+2) -

4 Expenses
(a) Cost of materials consumed -
(b) Purchases of stock-in-trade -
(c) Changes in inventories of finished goods, -
work-in-progress and stock-in-trade
(d) Employee benefits expense 15 2,179,685
(e) Finance costs 16 15,957
(f) Depreciation and amortisation expense 17 180,826
(g) Other expenses 18 773,576

Total expenses 3,150,044

5 Profit / (Loss) before exceptional and -3,150,044

extraordinary items and tax (3 - 4)

6 Exceptional items -

7 Profit / (Loss) before extraordinary items -3,150,044

and tax (5 + 6)

8 Extraordinary items -

9 Profit / (Loss) before tax (7 + 8) -3,150,044

10 Tax expense:
(a) Current tax expense for current year -
(b) (Less): MAT credit (where applicable) -
(c) Current tax expense relating to prior years -

(d) Net current tax expense -

(e) Deferred tax -
-

11 Profit / (Loss) from continuing operations (9 -3,150,044

+10)
 VEDANTU INNOVATIONS PRIVATE LIMITED
FIRST FLOOR, YSR MANSION, BELLANDUR GATE, SARJAPUR ROAD, BANGALORE (KARNATAKA)

Income and Expenditure A/C for the period from 29th October, 2011 to 31 March, 2012
in Rs.
Particulars Note For the period from
No. 29th October to 31 March, 2012
B DISCONTINUING OPERATIONS

12.i Profit / (Loss) from discontinuing operations -

(before tax)
12.ii Gain / (Loss) on disposal of assets / settlement -
of liabilities attributable to the discontinuing
operations

12.iii Add / (Less): Tax expense of discontinuing -

operations
(a) on ordinary activities attributable to the -
discontinuing operations
(b) on gain / (loss) on disposal of assets / -
settlement of liabilities

13 Profit / (Loss) from discontinuing operations -

(12.i + 12.ii + 12.iii)

C TOTAL OPERATIONS -3,150,044

14 Profit / (Loss) for the year (11 + 13) -3,150,044

15.i Earnings per share (of Rs. 10/- each):

(a) Basic
(i) Continuing operations -741.78
(ii) Total operations -741.78

15.ii Earnings per share (excluding extraordinary

items) (of Rs.10 /- each):
(a) Basic
(i) Continuing operations -741.78
(ii) Total operations -741.78

See accompanying notes forming part of the

financial statements
As per our report attached
for SUSHIL K SINGLA & Co. For and on behalf of the Board of Directors
Chartered Accountants Vedantu Innovations Private Limited
Firm's Registration Number:001023N
sd/- sd/-
sd/- Vamsi Krishna Anand Prakash
(Sushil K Singla) (Director) (Director)
Partner
Membership No. 80846
Place : Panchkula
Date : 23/08/2012
 VEDANTU INNOVATIONS PRIVATE LIMITED
FIRST FLOOR, YSR MANSION, BELLANDUR GATE, SARJAPUR ROAD, BANGALORE (KARNATAKA)
Notes forming part of the financial statements

Note Particulars

1 Corporate information

Vedantu Innovations Private Limited (‘the Company’) was incorporated on October 29, 2011 as a private limited company under the
Companies Act, 1956 (“the Act”) with its registered office at First Floor, YSR Mansion, Bellandur Gate, Sarjapur Road (Opposite:
Springfield Apartments), Bangalore, Karnataka. The Company is in the educational services industry, setting up educational networking
platform for providing online/ offline facility for content sharing.

The Company is a Small and Medium Sized Company as defined in the General Instructions in respect of Accounting Standards notified
under the Companies (Accounting Standards) Rules, 2006 (as amended). Accordingly, the Company has complied with the Accounting
Standards as applicable to a Small and Medium Sized Company.

2 Significant accounting policies:

2.1 Basis of accounting and preparation of financial statements

The financial statements of the Company have been prepared in accordance with the Generally Accepted Accounting Principles in Ind
(Indian GAAP) to comply with the Accounting Standards notified under the Companies (Accounting Standards) Rules, 2006 (
amended) and the relevant provisions of the Companies Act, 1956. The financial statements have been prepared on accrual basis und
the historical cost convention. The accounting policies adopted in the preparation of the financial statements are consistent with tho
followed in the previous year.

2.2 Use of estimates

The preparation of the financial statements in conformity with Indian GAAP requires the Management to make estimates a
assumptions considered in the reported amounts of assets and liabilities (including contingent liabilities) and the reported income a
expenses during the year. The Management believes that the estimates used in preparation of the financial statements are prudent a
reasonable. Future results could differ due to these estimates and the differences between the actual results and the estimates a
recognised in the periods in which the results are known / materialise.

2.3 Depreciation and amortisation

Depreciation on fixed assets has been provided on Written Down Value Method (WDV) at the rates prescribed under schedule XIV of
the companies act, 1956.

2.4 Revenue recognition

During the current year company has not generated any revenue.
 VEDANTU INNOVATIONS PRIVATE LIMITED
Notes forming part of the financial statements

Note 2 Significant accounting policies (contd.)

Note Particulars

2.5 Fixed assets

Fixed assets are carried at cost less accumulated depreciation and impairment losses, if any. The cost of fixed assets includes interest
borrowings attributable to acquisition of qualifying fixed assets up to the date the asset is ready for its intended use and other inciden
expenses incurred up to that date. Subsequent expenditure relating to fixed assets is capitalised only if such expenditure results in
increase in the future benefits from such asset beyond its previously assessed standard of performance.
Fixed assets retired from active use and held for sale are stated at the lower of their net book value and net realisable value and a
disclosed separately in the Balance Sheet.

2.6 Investments

Long-term investments (excluding investment properties), are carried individually at cost less provision for diminution, other th
temporary, in the value of such investments. Current investments are carried individually, at the lower of cost and fair value. Cost
investments include acquisition charges such as brokerage, fees and duties.

2.7 Earnings per share

Basic earnings per share is computed by dividing the profit / (loss) after tax (including the post tax effect of extraordinary items, if any)
the weighted average number of equity shares outstanding during the year.

Diluted earnings per share is not computed as Small & Medium Sized Company does not require to compute diluted earnings per share
per AS-20.

2.8 Taxes on income

Current tax is the amount of tax payable on the taxable income for the year as determined in accordance with the provisions of the Incom
Tax Act, 1961.

Minimum Alternate Tax (MAT) paid in accordance with the tax laws, which gives future economic benefits in the form of adjustment
future income tax liability, is considered as an asset if there is convincing evidence that the Company will pay normal income ta
Accordingly, MAT is recognised as an asset in the Balance Sheet when it is probable that future economic benefit associated with it w
flow to the Company.

Deferred tax is recognised on timing differences, being the differences between the taxable income and the accounting income th
originate in one period and are capable of reversal in one or more subsequent periods. Deferred tax is measured using the tax rates a
the tax laws enacted or substantially enacted as at the reporting date. Deferred tax liabilities are recognised for all timing differenc
Deferred tax assets in respect of unabsorbed depreciation and carry forward of losses are recognised only if there is virtual certainty th
there will be sufficient future taxable income available to realise such assets. Deferred tax assets are recognised for timing differences
other items only to the extent that reasonable certainty exists that sufficient future taxable income will be available against which the
can be realised. Deferred tax assets and liabilities are offset if such items relate to taxes on income levied by the same governing tax law
and the Company has a legally enforceable right for such set off. Deferred tax assets are reviewed at each Balance Sheet date for th
realisability.

2.9 Provisions and contingencies

A provision is recognised when the Company has a present obligation as a result of past events and it is probable that an outflow
resources will be required to settle the obligation in respect of which a reliable estimate can be made. Provisions are not discounted
their present value and are determined based on the best estimate required to settle the obligation at the Balance Sheet date. These a
reviewed at each Balance Sheet date and adjusted to reflect the current best estimates. Contingent liabilities are disclosed in the Notes.
VEDANTU INNOVATIONS PRIVATE LIMITED
FIRST FLOOR, YSR MANSION, BELLANDUR GATE, SARJAPUR ROAD, BANGALORE (KARNATAKA)
Notes forming part of the financial statements

3 SHARE CAPITAL
in Rs.
Particulars As at March 31, 2012
Authorized
Equity shares, `10/- par value
1,00,000 equity shares 1,000,000
Issued, Subscribed and Paid-Up
Equity shares, `10/- par value
10000 equity shares ,fully paid up 100,000

Notes:
(i) Forfeited shares amounted to `0 (`0)
(ii) The company was incorporated on 29th october 2011. Hence previous year figures are not given
(iii) The Company has only one class of shares referred to as equity shares having a par value of Rs.10/-.
Each holder of equity shares is entitled to one vote per share.
(iv) The Company declares and pays dividends in Indian rupees.The dividend proposed by the Board of
Directors is subject to the approval of the shareholders in the ensuing Annual General Meeting. So far no
dividend has been declared or proposed for declaration.
(v) In the event of liquidation of the Company , the holders of equity shares will be entitled to receive any of
the remaining assets of the company, after distribution of all preferential amounts. However, no such
preferential amounts exist currently. The distribution will be in proportion to the number of equity
shares held by the shareholders.
(vi) The Company has no Stock Option Plans, as on the date of Balance Sheet.

(vii) The reconciliation of the number of shares outstanding and the amount of share capital as at March 31,
2012 is set out below:
As at March 31, 2012
Particulars
Number of shares Amount
Number of shares at the beginning - -
Add: shares issued against cash 10,000 100,000
Add: shares issued against consideration other
than cash -
Number of shares at the end 10,000 100,000

(viii) Details of shares held by each shareholder holding more than 5% shares:
As at March 31, 2012
Particulars Number of shares held % holding in that class
of shares
Equity shares with voting rights
Pulkit Jain 2,500 25
Anand Prakash 2,500 25
Vamsi Krishna Paruchuri 2,500 25
Saurabh Saxena 2,500 25
10,000 100
(ix) Aggregate number and class of shares allotted as fully paid up pursuant to contract(s) without payment
being received in cash, bonus shares and shares bought back for the period of 5 years immediately
preceding the Balance Sheet date:

Particulars Aggregate number of

As at 31 March, 2012
Equity shares with voting rights -
Fully paid up pursuant to contract(s) without -
payment being received in cash
Fully paid up by way of bonus shares -
Shares bought back -
Equity shares with differential voting rights -
Fully paid up pursuant to contract(s) without -
payment being received in cash
Fully paid up by way of bonus shares -
Shares bought back -

Vedantu Innovations Private Limited

sd/- sd/-
Vamsi Krishna Anand Prakash
(Director) (Director)
VEDANTU INNOVATIONS PRIVATE LIMITED
FIRST FLOOR, YSR MANSION, BELLANDUR GATE, SARJAPUR ROAD, BANGALORE
(KARNATAKA)
Notes forming part of the financial statements

4 RESERVES AND SURPLUS

Particulars As at March 31,

2012
Amount
(a) General reserve
Opening balance -
Add: Transferred from surplus in Statement of Profit and Loss -3,150,044
Less: Utilised / transferred during the year for: -
Issuing bonus shares -
Others (give details) -
Closing balance -3,150,044
 Particulars As at 31 March,
2012
Amount
(a) Other reserves (specify the nature and purpose of each reserve)
Opening balance -
Add: Additions / transfers during the year -
Less: Utilisations / transfers during the year -
Closing balance -

(b) Surplus / (Deficit) in Statement of Profit and Loss

Opening balance -
Add: Profit / (Loss) for the year (3,150,044)
Amounts transferred from:
General reserve -
Other reserves (give details) -
Less: Interim dividend -
Dividends proposed to be distributed to equity shareholders -
(`___ per share)
Dividends proposed to be distributed to preference shareholders -
(`___ per share)
Tax on dividend -
Transferred to:
General reserve (3,150,044)
Capital redemption reserve -
Debenture redemption reserve -
Other reserves (give details) -
Closing balance -

Vedantu Innovations Private Limited

sd/- sd/-
Vamsi Krishna Anand Prakash
(Director) (Director)
VEDANTU INNOVATIONS PRIVATE LIMITED
FIRST FLOOR, YSR MANSION, BELLANDUR GATE, SARJAPUR ROAD, BANGALORE (KARNATAKA)
Notes forming part of the financial statements

5 DEFERRED TAX ASSET / LIABILITY

Particulars As at 31 March, 2012

Deferred tax (liability) / asset

Tax effect of items constituting deferred tax liability
On difference between book balance and tax balance of fixed assets -
On expenditure deferred in the books but allowable for tax purposes -
On items included in Reserves and surplus pending amortisation into the Statement of Profit and -
Loss
Others -
Tax effect of items constituting deferred tax liability -

Tax effect of items constituting deferred tax assets

Provision for compensated absences, gratuity and other employee benefits -
Provision for doubtful debts / advances -
Disallowances under Section 40(a)(i), 43B of the Income Tax Act, 1961 -
On difference between book balance and tax balance of fixed assets -
Unabsorbed depreciation carried forward -
Brought forward business losses -
On items included in Reserves and surplus pending amortisation into the Statement of Profit and -
Loss
Others (Preliminary expenses) -
Tax effect of items constituting deferred tax assets -

Net deferred tax (liability) / asset -

Vedantu Innovations Private Limited

sd/- sd/-
Vamsi Krishna Anand Prakash
(Director) (Director)
VEDANTU INNOVATIONS PRIVATE LIMITED
FIRST FLOOR, YSR MANSION, BELLANDUR GATE, SARJAPUR ROAD, BANGALORE (KARNATAKA)
Notes forming part of the financial statements

6 TRADE PAYABLES

Particulars As at 31 March, 2012

Amount
(a) Trade Payables:
(i) Acceptances -
(ii) Other than Acceptances -
Total of Trade Payables -
(b) Others:
(i) Payables on purchase of fixed assets
(ii) Contractually reimbursable expenses -
(iii) Interest accrued but not due on borrowings -
(iv) Interest accrued on trade payables -
(v) Interest accrued on others -
(vi) Trade / security deposits received -
(vii) Advances from customers -
(viii) Income received in advance (Unearned revenue)
-
(ix) Others- Directors reimbursements 19,088
Total of Others 19,088
Total 19,088

Vedantu Innovations Private Limited

sd/- sd/-
Vamsi Krishna Anand Prakash
(Director) (Director)
VEDANTU INNOVATIONS PRIVATE LIMITED
FIRST FLOOR, YSR MANSION, BELLANDUR GATE, SARJAPUR ROAD, BANGALORE (KARNATAKA)
Notes forming part of the financial statements

7 OTHER CURRENT LIABILITIES

Particulars As at 31 March, 2012

Amount

(a) Current maturities of long-term debt -

(b) Interest accrued but not due on borrowings -
(c) Interest accrued and due on borrowings -
(d) Income received in advance (Unearned revenue) -
(e) Application money received for allotment of securities
and due for refund -
(f) Other payables
(i) Statutory remittances (Contributions to PF,TDS,
Service tax payable, etc.) 271,200
(ii) Payables on purchase of fixed assets 6,977
(iii) Contractually reimbursable expenses -
(iv) Interest accrued on tds payables 15,975
(v) Legal and professional fees payable
(vi) Trade / security deposits received
(vii) Advances from customers
Total of Other payables 294,152
Total 294,152
Notes:
(i) Current maturities of long-term debt (Refer Note-5 Long-term borrowings for details of
security and guarantee):
Particulars
As at 31 March, 2012
Amount
(a) Term loans
From banks
Secured
PNB Term Loan -
ICICI Car Loan -
HDFC Car Loan -
OBC Car Loan -
OBC Term Loan (against Server purchase ) -
OBC Term Loan (against Generator purchase) -
PNB Captiva Car Loan -
PNB Magnum Car Loan -
Unsecured -
From other parties
Secured -
Unsecured -
Total of Term loans -
(b) Loans and advances from related parties
Secured -
Unsecured -
Total of Loans and advances from related parties -
(c) Other loans and advances
Secured -
Unsecured -
Total of Other loans and advances -
Total -

(ii) As per the takeover agreement, Lakshya Firm will take one and half year period to settle/realise
all of the agreed assets and liabilities .i.e. by June 30th 2012, Lakshya firm will stand
dissolved.
Therefore as on 31-3-2011, all the term loans outstanding in the name of Lakshya firm are

(iii) All the secured and unsecured loans of the company are guaranteed by directors.

Vedantu Innovations Private Limited

sd/- sd/-
Vamsi Krishna Anand Prakash
(Director) (Director)
VEDANTU INNOVATIONS PRIVATE LIMITED
FIRST FLOOR, YSR MANSION, BELLANDUR GATE, SARJAPUR ROAD, BANGALORE (KARNATAKA)
Notes forming part of the financial statements

8 SHORT-TERM PROVISIONS

Particulars As at 31 March,
2012
Amount
(a) Provision for employee benefits -
(i) Provision for Bonus -
(ii) Provision for Salary 657,966
(ii) Provision for Provident fund -
Total of Provision for employee benefits 657,966
(b) Provision - Others:
(i) Provision for tax (net of advance tax) -
(ii) Provision - others
(Audit Fees) 29,775
( Electricity) 2,576
(Telephone expense) 2,337
(Legal & Professional Fees ) 28,500
Courier Expenses payable 2,009
Total of Provision - Others 65,197
Total 723,163

Vedantu Innovations Private Limited

sd/- sd/-
Vamsi Krishna Anand Prakash
(Director) (Director)
 VEDANTU INNOVATIONS PRIVATE LIMITED
FIRST FLOOR, YSR MANSION, BELLANDUR GATE, SARJAPUR ROAD, BANGALORE (KARNATAKA)
Notes forming part of the financial statements

9 TANGIBLE ASSETS

Tangible assets Gross block

Balance Additions Disposals Acquisitions Reclassified as Revaluation increase Effect of foreign Borrowing cost Other Balance
as at through held for sale currency exchange capitalised adjustments as at
29th October, business differences 31 March, 2012
2011 combinations

(a) Land - - - - - - - - - -
(b) Buildings - - - - - - - - - -
(c) Plant and Equipment - - - - - - - - - -
(d) Furniture and Fixtures - 645,579 - - - - - - - 645,579
(e) Vehicles - - - - - - - - -
(f) Office equipment - 975,918 - - - - - - - 975,918
(g) Leasehold improvements - - -
(h) Others (specify nature)
Total - 1,621,497 - - - - - - - 1,621,497

Tangible assets Accumulated depreciation and impairment Net block

Balance Depreciation / Eliminated Eliminated Impairment losses Reversal of Other Balance Balance
as at amortisation on disposal on recognised in impairment losses adjustments as at as at
29th October, expense for the of assets reclassificati statement of profit recognised in 31 March, 2012 31 March, 2012
2011 year on as held for and loss Statement of Profit
sale and Loss

Amount Amount Amount Amount Amount Amount Amount Amount Amount

(a) Land - - - - - - - - -
(b) Buildings - - - - - - - - -
(c) Plant and Equipment - - - - - - - - -
(d) Furniture and Fixtures - 62,225 - - - - - 62,225 583,354
(e) Vehicles - - - - - - - -
(f) Office equipment - 118,601 - - - - - 118,601 857,317
(g) Leasehold improvements - - - - - - - - -
(h) Others (specify nature) - - - - - - - - -
Total - 180,826 - - - - - 180,826 1,440,671

Vedantu Innovations Private Limited

sd/- sd/-
Vamsi Krishna Anand Prakash
(Director) (Director)
 VEDANTU INNOVATIONS PRIVATE LIMITED
FIRST FLOOR, YSR MANSION, BELLANDUR GATE, SARJAPUR ROAD, BANGALORE (KARNATAKA)
Notes forming part of the financial statements
10 INTANGIBLE ASSETS
Intangible assets Gross block
Balance Additions Disposals Acquisitions Reclassified as Effect of foreign Borrowing cost Other Balance
as at through business held for sale currency capitalised adjustments as at
29th October, combinations exchange 31 March, 2012
2011 differences
Amount Amount Amount Amount Amount Amount Amount Amount Amount
(a) Goodwill - - - - - - - - -
(b) Brands / trademarks - - - - - - - - -
(c) Computer software - - - - - - - - -
(d) Website - - - - - - - - -
(e) Mining rights - - - - - - - - -
(f) Copyrights, patents and other - - - - - - - - -
intellectual property rights, services and
operating rights
(g) Recipes, formulae, models, designs - - - - - - - - -
and prototypes
(h) Licenses and franchise - - - - - - - - -
(i) Others - - - - - - - - -
Total - - - - - - - - -
Intangible assets Accumulated depreciation and impairment Net block
Balance Depreciation / Eliminated on Eliminated on Impairment losses Other Balance Balance
as at amortisation disposal of assets reclassification as recognised / adjustments as at as at
29th October, expense for the held for sale (reversed) in 31 March, 2012 31 March, 2012
2011 year Statement of
Profit and Loss
Amount Amount Amount Amount Amount Amount Amount Amount
(a) Goodwill - - - - - - - -
(b) Brands / trademarks - - - - - - - -
(c) Computer software - - - - - - - -
(d) Website - - - - - - - -
(e) Mining rights - - - - - - - -
(f) Copyrights, patents and other - - - - - - - -
intellectual property rights, services and
operating rights
(g) Recipes, formulae, models, designs - - - - - - - -
and prototypes
(h) Licenses and franchise - - - - - - - -
(i) Others - - - - - - - -
Total - - - - - - - -

Vedantu Innovations Private Limited

sd/- sd/-
Vamsi Krishna Anand Prakash
(Director) (Director)
VEDANTU INNOVATIONS PRIVATE LIMITED
FIRST FLOOR, YSR MANSION, BELLANDUR GATE, SARJAPUR ROAD, BANGALORE (KARNATAKA)
Notes forming part of the financial statements

11 LONG-TERM LOANS & ADVANCES

Particulars As at March 31, 2012

Amount
(a) Capital advances *
Secured, considered good -
Unsecured, considered good -
Doubtful -
Less: Provision for doubtful advances -
Total of Capital advances -

(b) Security deposits

Secured, considered good -
Unsecured, considered good 200,000
Doubtful -
Less: Provision for doubtful deposits -
Total of Security deposits 200,000

(c) Loans and advances to related parties -

Secured, considered good -
Unsecured, considered good
Doubtful -
Less: Provision for doubtful loans and advances -
Total of Loans and advances to related parties -

(d) Loans and advances to employees -

Secured, considered good -
Unsecured, considered good -
Doubtful -
Less: Provision for doubtful loans and advances -
Total of Loans and advances to employees -

(e) Prepaid expenses - Unsecured, considered good (For

e.g. Insurance premium, Annual maintenance contracts,
etc.) -

(f) Advance income tax (net of provisions `0 (`0) -

Unsecured, considered good -

(g) MAT credit entitlement # - Unsecured, considered

good -
(h) Balances with government authorities
Unsecured, considered good
(i) CENVAT credit receivable -
(ii) VAT credit receivable -
(iii) Service Tax credit receivable -
Total of Balances with government authorities -
(i) Other loans and advances (specify nature)
Secured, considered good -
Unsecured, considered good -
Doubtful -
Less: Provision for other doubtful loans and
advances -
Total of Other loans and advances -
Total 200,000

Notes:
(i) Long-term loans and advances include amounts due from:

Particulars As at 31 March, 2012

Amount
Directors -
Other officers of the Company -
Firms in which any director is a partner -
Private companies in which any director is a director or -
member
-

Vedantu Innovations Private Limited

sd/- sd/-
Vamsi Krishna Anand Prakash
(Director) (Director)
VEDANTU INNOVATIONS PRIVATE LIMITED
FIRST FLOOR, YSR MANSION, BELLANDUR GATE, SARJAPUR ROAD, BANGALORE (KARNATAKA)
Notes forming part of the financial statements

12 CASH AND CASH EQUIVALENTS

Particulars As at 31 March, 2012

Amount
(a) Cash on hand 50,787
(b) Cheques, drafts on hand -
(c) Balances with banks
(i) In current accounts
PNB Bank 25,981
Total of Balance with banks 25,981
(ii) In EEFC accounts -
(iii) In deposit accounts
(iv) In earmarked accounts
- Unpaid dividend accounts -
- Unpaid matured deposits -
- Unpaid matured debentures -
- Share application money received for allotment of -
securities and due for refund
- Balances held as margin money or security against -
borrowings, guarantees and other commitments (Refer
Note (i) below)
- Other earmarked accounts -
Total of earmarked accounts -
(d) Others
Total 76,768
Notes:

Vedantu Innovations Private Limited

sd/- sd/-
Vamsi Krishna Anand Prakash
(Director) (Director)
VEDANTU INNOVATIONS PRIVATE LIMITED
FIRST FLOOR, YSR MANSION, BELLANDUR GATE, SARJAPUR ROAD, BANGALORE (KARNATAKA)
Notes forming part of the financial statements

13 SHORT TERM LOANS AND ADVANCES

Particulars As at 31 March, 2012

Amount
(a) Loans and advances to related parties
Secured, considered good -
Unsecured, considered good -
Doubtful -
Less: Provision for doubtful loans and advances -
Total of Loans and advances to related parties -
(b) Security deposits
Secured, considered good -
Unsecured, considered good -
Doubtful -
Less: Provision for doubtful deposits -
Total of Security deposits -
(c) Loans and advances to employees
Secured, considered good -
Unsecured, considered good 60,000
Doubtful -
Less: Provision for doubtful loans and advances -
Total of Loans and advances to employees 60,000
(d) Prepaid expenses - Unsecured, considered good (Prepaid Insurance)

(e) Balances with government authorities

Unsecured, considered good
(i) CENVAT credit receivable -
(ii) VAT credit receivable -
(iii) Service Tax credit receivable
(iv) Service Tax paid on advance receipts
(v) Tax Deducted at Source credit receivable
Total of Balances with government authorities -
(f) Inter-corporate deposits
Secured, considered good -
Unsecured, considered good -
Doubtful -
Less: Provision for doubtful inter-corporate deposits -
Total of Inter-corporate deposits -
(g) Others
Secured, considered good -
Unsecured, considered good
Advance Income Tax
Advance given to Majestic Tour India
Registrar consumer forum
Ujjwal
Doubtful -
Less: Provision for other doubtful loans and advances -
Total of Others -
Total 60,000

Notes:
(i) Short-term loans and advances include amounts due from:
Particulars As at 31 March, 2012

Amount
Directors -
Other officers of the Company -
Firms in which any director is a partner -
Private companies in which any director is a director or member -
-

Vedantu Innovations Private Limited

sd/- sd/-
Vamsi Krishna Anand Prakash
(Director) (Director)
VEDANTU INNOVATIONS PRIVATE LIMITED
FIRST FLOOR, YSR MANSION, BELLANDUR GATE, SARJAPUR ROAD, BANGALORE (KARNATAKA)

14 OTHER NON-CURRENT ASSETS

Particulars As at March 31, 2012

Amount
(a) Long-term trade receivables
Secured, considered good -
Unsecured, considered good -
Doubtful -
Less: Provision for doubtful trade
receivables -
Total of Long-term trade receivables -

(b) Unamortised expenses

(i) Ancillary borrowing costs -
(ii) Share issue expenses -
(iii) Discount on shares -
Total of Unamortised expenses -
(c) Accruals
(i) Interest accrued on deposits -
(ii) Interest accrued on investments -
(iii) Interest accrued on trade receivables -
Total of Accruals -
(d) Others
(i) Insurance claims -
(ii) Receivables on sale of fixed assets -
(iii) Contractually reimbursable expenses -
(iv) Unamortized expense 53,920
Total of Others 53,920
Total 53,920

Vedantu Innovations Private Limited

sd/- sd/-
Vamsi Krishna Anand Prakash
(Director) (Director)
VEDANTU INNOVATIONS PRIVATE LIMITED
FIRST FLOOR, YSR MANSION, BELLANDUR GATE, SARJAPUR ROAD, BANGALORE (KARNATAKA)
Notes forming part of the financial statements

15 EMPLOYEE BENEFITS

Particulars For the period from

29th October to 31
March, 2012
Amount
Salaries and wages 2,179,685
Contributions to provident and other funds -
Expense on employee stock option (ESOP) scheme -
Staff welfare expenses -
Total 2,179,685

Vedantu Innovations Private Limited

sd/- sd/-
Vamsi Krishna Anand Prakash
(Director) (Director)
VEDANTU INNOVATIONS PRIVATE LIMITED
FIRST FLOOR, YSR MANSION, BELLANDUR GATE, SARJAPUR ROAD, BANGALORE (KARNATAKA)
Notes forming part of the financial statements

16 FINANCE COST

Particulars For the period from

29th October to 31
March, 2012
Amount
(a) Interest expense on:
(i) Borrowings -
(ii) Trade payables -
(iii) Others
- Interest on delayed / deferred payment of income tax -
-TDS 15,957
-Loan processing charges -
-Interest paid on service tax -
Total of Interest expense 15,957
(b) Other borrowing costs (Bank Charges) -
(c) Net (gain) / loss on foreign currency transactions and translation (considered as finance -
cost)
Total 15,957

Vedantu Innovations Private Limited

sd/- sd/-
Vamsi Krishna Anand Prakash
(Director) (Director)
 VEDANTU INNOVATIONS PRIVATE LIMITED
FIRST FLOOR, YSR MANSION, BELLANDUR GATE, SARJAPUR ROAD, BANGALORE (KARNATAKA)
Notes forming part of the financial statements

17 DEPRECIATION AND AMORTISATION

Particulars For the period

from
29th October to 31
March, 2012
Amount

Depreciation and amortisation for the year on tangible assets as per Note 12 180,826
Depreciation and amortisation for the year on intangible assets as per Note 13 -
Less: Utilised from revaluation reserve -
Depreciation and amortisation relating to discontinuing operations
Depreciation and amortisation relating to continuing operations 180,826

Vedantu Innovations Private Limited

sd/- sd/-
Vamsi Krishna Anand Prakash
(Director) (Director)
 VEDANTU INNOVATIONS PRIVATE LIMITED
FIRST FLOOR, YSR MANSION, BELLANDUR GATE, SARJAPUR ROAD, BANGALORE (KARNATAKA)
Notes forming part of the financial statements

18 OTHER EXPENSES

Particulars For the period from

29th October to 31 March,
2012
Amount
Business Promotion 25,438
Computer consumable exp 10,088
Membership Fee 3,600
Server Procurement Charges 94,653
Power and fuel 15,244

Water and sewerage 4,000

Carriage Expenses 34,000
Designing Expense 100,000
Rent including lease rentals 176,020
Repairs and maintenance - Others 8,110
Insurance -
Service Tax -
Rates and taxes -
Communication 56,113
Travelling and conveyance 96,495
Vehicle running expenses -
Printing and stationery 5,587
Interest paid to employees on securities -
Freight and forwarding 7,073
Advertisement 15,000
Function and seminars -
Recruitment Expenses 20,367
Legal and professional 43,500
School Payments -
Payments to auditors 29,775
Office Expenses 28,513
Processing Fees -
Bad trade and other receivables, loans and advances written off -
Test expenses -
Security guard expenses -
Preliminary expense written off -
Miscellaneous expenses -
Total 773,576

Vedantu Innovations Private Limited

sd/- sd/-
Vamsi Krishna Anand Prakash
(Director) (Director)
VEDANTU INNOVATIONS PRIVATE LIMITED
FIRST FLOOR, YSR MANSION, BELLANDUR GATE, SARJAPUR ROAD, BANGALORE (KARNATAKA)
Notes forming part of the financial statements

19 Additional information to the financial statements

i) The Revised Schedule VI has become effective from 1 April, 2011 for the preparation of financial statements. This has
significantly impacted the disclosure and presentation made in the financial statements.

ii) Related Party Disclosures

ii) a) Details of related parties:

Description of Relationship Names of Related Parties

Ultimate Holding Company Nil
Subsidiaries Nil

Fellow Subsidiaries Nil

Associates Nil
Key Management Personnel (KMP) 1.Vamsi Krishna Paruchuri- Director
2.Saurabh Saxena- Director
3.Anand Parkash- Director
4.Pulkit Jain- Director
Relatives of KMP Nil
Company in which KMP / Relatives of KMP can exercise significant 1. Lakshya Forum For Competitions Private
influence Limited
Note: Related parties have been identified by the Management.

ii) b) Details of related party transactions during the year ended March 31, 2012

Party Nature of transaction Relationship For the period from

29th October to 31
March, 2012
Lakshya Forum For Competitions Company in which KMP / Nil
Private Limited Relatives of KMP can
exercise significant
Nil influence

Vamsi Krishna Paruchuri Finance (including loans and Director 50,000

equity contributions in cash or
in kind)

Saurabh Saxena Finance (including loans and Director 1,635,749

equity contributions in cash or
in kind)

Anand Parkash Finance (including loans and Director 1,445,000

equity contributions in cash or
in kind)

Pulkit Jain Finance (including loans and Director 833,339

equity contributions in cash or
in kind)

ii) c) Details of related party balances outstanding as at March 31, 2012

Party Relationship Balance as on 31 March,

2012
Lakshya Forum For Competitions Company in which KMP / Nil
Private Limited Relatives of KMP can exercise
significant influence

Vamsi Krishna Paruchuri Director Nil

Saurabh Saxena Director 10749
Anand Parkash Director Nil
 Pulkit Jain Director 8339

iii) Earnings per share

Particulars For the period from

29th October to 31 March,
2012
Net Profit / (Loss) after tax available (3,150,044)
for equity shares
Basic/Weighted Average number of 10,000
Equity Shares of Rs.10 each
Basic Earnings Per Share (Rs.) (315.00)
iv) Employee benefit plans

The company has not complied with Accounting Standard 15- Employee Benefits as no provision or an assessment has
been made for the retirement benefits. As company was incorporated on 29/10/2011 there is no employee who have
completed five years of continuous service with the company.

v) Share application money pending allotment

As at 31 March 2012, the Company has retained an amount of Rs. 38,45,000/- towards share application money towards
3,84,500 equity shares of the Company at a zero premium out of expenses incurred by Directors on behalf of the
company/funds provided by the shareholders/directors of the company . The Company proposes to increase the
authorised capital sufficiently to allot shares against share application money.

vi) In the opinion of the Board the Current Assets, Loans & Advances are approximately of the value stated and realizable in
the ordinary course of business. The Provision for all known liabilities is adequate.

vii) Auditor's Remuneration

Particulars For the period from

29th October to 31 March,
2012
(i) Payments to the auditors
comprises (net of service tax input
credit, where applicable):
As auditors - statutory audit 29,775
For taxation matters -
For company law matters -
For management services -
For other services -
Reimbursement of expenses -
Total 29,775
viii) Dues to small-scale Medium Enterprises industrial undertakings

There are no Micro, Small and Medium Enterprises with whom the Company owes dues, which are outstanding for more
than 45 days at the Balance Sheet date other than those disclosed below. The Micro, Small and Medium Enterprises have

ix) C.I.F Value of Imports, Expenditure and Earnings in Foreign Companies

For the period from
29th October to 31 March,
Particulars 2012
C.I.F Value of Imports
Expenditure in Foreign Companies
Earning in Foreign Exchange N.A
F.O.B Value of Exports
Interest Received

Vedantu Innovations Private Limited

sd/- sd/-
Vamsi Krishna Anand Prakash
(Director) (Director)