A.   COMPANY OVERVIEW
 
 Era E-Zone (India) Limited was incorporated as a Public Limited Company
 under the name and style of Era Financial Services (India) Limited on
 6th January, 1993 with the office of Registrar of Companies NCT of
 Delhi & Haryana and obtained the Certificate of Commencement of
 Business on 2nd February, 1993 from the office of Registrar of
 Companies NCT of Delhi & Haryana. W.e.f. 20th September, 2006 it
 changed its name to Era E-Zone (India) Limited consequent upon change
 in its Main Objects. Presently Company is engaged in the business of
 running of Multiplexes/Cineplexes, Food Court and real estate etc.
 However, the company is now entering into manufacturing of
 pre-engineered building blocks and other allied areas and has amended
 the main object clause of its Memorandum of Association accordingly.
 The Company''s registered office is situated at 153, Okhla Industrial
 Estate, Phase-III, New Delhi-110020
 
 The shares of the Company are listed on the Bombay Stock Exchange,
 Mumbai.
 
 a Terms/right attached to Equity shares
 
 The company has only one class of equity shares having par value of
 Rs.10 per share.  Each holder of equity shares is entitled to one vote
 per share. The company declares and pays dividends only in Indian
 rupees.
 
 In the event of liquidation of the company, the holders of equity
 shares will be entitled to receive remaining assets of the company,
 after distribution of all preferential amounts. The distribution will
 be in proportion to the number of equity shares held by the
 shareholders.
 
 As per records of the company, including its register of
 shareholders/members and all other declarations received from
 shareholders regarding benficial interest, the above shareholding
 represents both legal and benficial ownership of shares.
 
 *Term Loan from Yes Bank Ltd was secured against exclusive charge on
 whole of the movable assets relating to 9 screens & 3 food court and
 current assets of the Company, both present and future pertaining to
 units at various locations.
 
 1.  Capital and other commitments
 
 Estimated Value of Contracts in Capital account remainning to be
 executed & not provided for Rs. 201,51,022 (P.Y Rs. 201,51,022) net of
 advances.
 
 2.  Contingent Liabilities
 
 NIL (Previous Year - NIL)
 
 3.  SEGMENT REPORTING
 
 Based on the guiding principles giving in the accounting standard
 (AS-17) on segment reporting issued by the Institute of Chartered
 Accountants of India, the primary segment of the company were Real
 Estate business, Trading activities & Entertainment Business.
 
 4.  Related Party Disclosures
 
 Related Parties With Whom Transactions Have Taken Place During The Year
 
 a.  Wholly Owned Subsidiaries: Silverline Cinemas Private Limited
 
 b.  Associates:               Era Landmarks Ltd.(Till 05.01.11)
 
 c.  Key Management Personnel: Mr. H.S. Bharana -Chairman
 
 Mr. Amit Bharana -            Managing Director till 31.05.2011
 Mr. Gaurav Chopra -           Manager w.e.f. 01.06.2011
 
 5.  a) During the year Company issued 1,80,00,000 convertible warrants
 to Non Promoters on Preferential basis and out of them 127,00,000
 warrants have been converted into equal number of equity shares.
 
 6.  In the opinion of the board of directors, all the current assets,
 loans & advances have value of realisation in the ordinary course of
 business at least equal to the amount at which they are stated except
 those are expressly stated and that all the known liabilities relating
 to the period under review have been provided for.
 
 7.  In the opinion of the board, none of the assets/ cash generating
 units of the company is impaired.
 
 8.  Expenditure/Earnings in foreign currency-Nil
 
 9.  There are no payments due to Micro, Small & Medium Enterprise.
 
 10.  Provisions for diminution in the value of Non Current Investments
 has not been made as in the opinion of the board, such diminution is
 temporary.
 
 11.  Parties balance is subject to confirmation from them.
 
 12.  Previous Years Figures
 
 Till the year ended 31st March,2011, the company was using pre-revised
 Schedule VI to the Companies Act, 1956 for prepration and presentation
 of financial statements. During the year ended 31st March,2012, the
 revised schedule VI notified under Companies Act,1956 has become
 applicable to the Company. The adoption of revised schedule VI does not
 impact recognition and measurement principles followed for prepration
 for financial statements. However, it significantly impacts
 presentation and disclosures made in the financial statements,
 particularly presentation of balance sheet. As a result, previous
 years'' figures have been regrouped/ reclassified to conform to this
 year''s financial statements where necessary.