1.  The balances in respect of Sundry Debtors, Current Liabilities and
 Loans and Advances are subject to confirmations and reconciliation if
 any.
 
 2.  In the opinion of Board of directors & Management, the current
 assets, current liabilities, unsecured loans, loans and advances have
 been approximately of the value sated, if realized in the ordinary
 course of business. The Provisions for Depreciation and for all known
 liabilities are adequate and not in excess of amounts reasonably
 necessary.
 
 3.  Equity Share Capital
 
 During the year, each existing Equity shares of the face value of Rs.
 10/- each was subdivided into 10 Equity shares of Face value of Rs. 1/-
 each. After the splitting, the company has issued 49670000 Bonus equity
 shares of face value of Rs. 1/- each by capitalizing Rs. 49670000/-
 accumulated balances in Profit and loss account.
 
 4.  During the year 2009-10, as on 11-02-2010, there was Income tax
 Search U/S 132 on our company along with Chartered logistics Group .
 Pursuant to the search income tax authorities have issued notices U/s
 153A(1)(a) r.w.s. 143(2) of the income tax act for
 assessing/reassessing the returns income filed for Financial years
 2003— 04 to 2008-09 relevant to assessment year 2004-05 to 2009-10.
 Company has already filed the returns of income in response to above
 notices. In view of this tax liability, if any, could not be
 ascertained. Liability, if any, that may arise after completion of
 assessments will be accounted/provided for as and when such liabilities
 will arise
 
 5.  As the company operates in a single segment engaged in Transport
 service, Accounting Standards 17 on Segment Reporting is not
 applicable.
 
 6.  Claims against the company for damage of goods worth of Rs.105000/
 for which matter is in appeal.
 
 Company has not accepted it as a liability, so it is not accounted in
 the books of account of the company as debt during the year.
 
 7.  During the year, the Company has adopted Accounting Standard; - 22
 Accounting for Taxes on Income issued by The Institute of Chartered
 Accountants of India.
 
 8. Related Party Transaction
 
 As per Accounting standard 18 on related party disclosures:,
 disclosures of transactions with related parties as defined therein are
 given below.
 
 List of related parties with whom transactions have taken place and
 Nature of relationship.
 
 a) Key Management Personnel (KMP):- 
 
 Mr. Lalit G. Gandhi, - Chairman & Managing Director 
 
 Mr. Kishore Gandhi, - Executive Director
 
 Ms. Nisha Makwana, - Whole Time Director
 
 Mr. Mohib Khericha, - Non Executive Director
 
 Mr. Mangilal Bohra, - Non Executive Director
 
 Mr. Sandip M. Shah, - Non Executive Director
 
 Mr. Ajay C. Shah, - Non Executive Director
 
 Mr. Jayprakash Gandhi - Non Executive Director
 
 b) Relatives of KMP
 
 M/s Raman Roadways - Father of Mr. Lalitkumar Gandhi
 
 Transactions with Related Parties during the year
 
 The following transactions were carried out with the Related parties in
 the ordinary course of Business.
 
 9. Employee Benefits
 
 a) Defined Benefit Plan
 
 No Liability in respect of present future liability of gratuity has
 been ascertained and provided in the accounts (Pre. Yr. – Not
 ascertained and provided for). This is in contravention with the
 accounting standard 15 issued by the ICAI, in respect of accounting for
 retirement benefits.
 
 10.  The companies have not received information''s from the suppliers
 regarding their status under the Micro, small and Medium Enterprises
 Development Act, 2006. Hence, disclosure, if any relating to amount
 unpaid as at the balance sheet date together with interest paid or
 payable as per the requirement under the said act, have not been made.
 
 11.  Investment of the company have been considered by the management
 to be of long-term nature and hence they are valued at cost of
 acquisition. In respect of quoted investments where the market value is
 lower than the acquisition cost, no provision is made for diminution in
 the value of such investments, since in the opinion of the board it is
 a temporary phenomenon and no provision is necessary.
 
 12.  In the opinion of the Board, current assets, loans and advances
 have a value of the least equal to the amounts shown in the Balance
 sheet, if realized in the ordinary course of business. The provision
 for all known liabilities is adequate and not in excess of amount
 considered reasonably necessary.
 
 13. Previous year''s figures have been regrouped, reclassified &
 rearranged wherever considered necessary.
 
 14. Expenditure incurred on employees who were in receipt of not less
 than Rs.24,00,000/- per year if employed through out the year and
 Rs.200000/- per month if employed for a part of a month - Rs. NIL
 
 15.  The figures have been rounded off to the nearest Rupee.
 
 16.  Additional information pursuant to the provisions of paragraph 3
 and 4 of the part II of schedule VI to the Companies Act, 1956 to the
 extent applicable, is given below.
 
 (a) Expenditure in Foreign Currency
 
 CIF Value of Income & Expenses - NIL
 
 17.  Other information pursuant to the provisions of part II of
 schedule VI to the Companies Act, 1956 has not been furnished as the
 same is not Applicable.