1.  The Company has not made provision for Gratuity since the Company
 do not have any employees during the year.
 
 2.  No provision has been made in accounts in accounts in respect of
 Income Tax Liability for interest u/s 234 B and 220(2) as per orders
 passed for prior years as representation is being made by the company
 before higher authorities for waiver of interest and the management is
 of the opinion that there would be no liability on this account.
 
 3.  During the year previous ended 31st March 2010, the Company had
 made a final settlement with its Bankers in respect of its dues and the
 banker had waived off Rs. 149.64 Lacs on settlement . The said sum of
 Rs. 149.64 Lacs was considered and reflected as Capital Reserve. The
 same has been rectified during the current year and the said amount has
 been transferred to the Profit and Loss Account. The Company has also
 revised its Income Tax Return for the A.Y. 2010-11 to this effect.
 
 4.  As on 31.03.2011, there are no dues to Micro, Small and Medium
 Enterprises suppliers defined under The Micro Small and Medium
 Enterprises Development Act, 2006.
 
 5.  In case of delinquent hirers or persons who have availed of
 financial facilities, appropriate action for the recovery of the
 outstanding amounts has been taken. Provision for Non Performing Assets
 on the said delinquent hirers has been made as per Reserve Bank of
 India guidelines on Non Banking Financial Companies
 
 6.  Balances in the Sundry Debtors, Loans & Advances and Other
 Liabilities are subject to confirmations and reconciliations.
 Consequential adjustment thereof, if any, will be given effect into the
 books of accounts in the year of such adjustments.
 
 10.  Related Party Disclosures
 
 Related party disclosures as required by the Accounting Standard –18 on
 Related Party Disclosures Notified by the Companies (Accounting
 Standard) Rules, 2006 are given below.
 
 b) Name of the enterprises having same Key Management Personnel and /
 or their relatives as the reporting enterprise with whom the Company
 has entered into transactions during the year.
 
 - Ram House Limited
 
 - Rammaica (India) Limited
 
 - Ramfabric (India) limited
 
 11.  Segment Information
 
 The segment wise details as per Accounting Standard 17 Segment
 Reporting as notified by the Companies (Accounting Standard) Rules,
 2006 is not applicable since the Company do not have separate
 reportable business segments during the year.
 
 12.  Provision for Taxes
 
 No Provision for current tax is made since the Company do not have any
 taxable income during the year .
 
 Deferred Taxes
 
 As per Accounting Standard ( AS-22 ) on  Accounting for Taxes on
 Income issued by the Institute of Chartered Accountants of India , the
 timing difference relating to unabsorbed losses results into Deferred
 Ta x Assets. In view of present uncertainty regarding generation of
 sufficient future taxable income and as a measure of prudence the
 Deferred Tax Assets on the same has not been recognized in the
 accounts.
 
 13.  Chirania Trading Private Limited (CTPL) acquired 22,51,000 equity
 shares on 18th November, 2010 from the existing promoters of the
 Company and has also made an Open Offer for acquiring another 20%
 equity shares from the Public in terms of SEBI (SAST) Regulation 1997
 vide Public Announcement on 23rd November, 2010. The Open Offer has
 been completed on 7th April, 2011 and CTPL has acquired 1,000 equity
 shares in Open Offer (in physical form) which is still to be
 transferred in the name of CTPL. Accordingly, CTPL is holding 22,52,000
 equity shares i.e. 75.04 % holding of the Company and is now promoter
 and in charge of the management of the Company.
 
 14.  The Company has incurred losses during the year and its net worth
 has been significantly eroded. However, having regard to the change in
 the management of the Company and considering the future expansion
 plans of the Company the financial statements have been prepared on a
 going concern basis and no adjustments are required to the carrying
 value of assets and liabilities.
 
 15.  Change of Name:
 
 The name of the Company has been changed from Gomti Finlease (India)
 Limited to Two-up Financial Services Limited and fresh certificate of
 incorporation dated 16th September, 2011 has been received from the
 Registrar of Companies, Maharashtra
 
 16.  The financial statements for the year ended 31st March 2010 were
 audited by another firm of Chartered Accountants and the same has been
 reclassified, wherever considered necessary, to conform with the
 current year''s presentation.  Figures wherever not available/ furnished
 in last year''s financial statements have not been given and hence are
 not strictly comparable.