1. Indiabulls Financial Services Ltd conducts its operations along with its subsidiaries and associate. The Consolidated financial statements are prepared in accordance with the principles and procedures for the preparation and presentation of Consolidated Accounts as set out in the Accounting Standards (AS 21 and AS 23) notified by the Companies (Accounting Standards) Rules, 2006. The financial statements of the parent Company and its subsidiaries have been combined on a line-by-line basis by adding together the book values of like items of assets, liabilities, income and expenses, after eliminating intra-group balances, transactions and resulting unrealized gains / losses. The Investment in associate is accounted on Equity Method. The consolidated financial statements are prepared by applying uniform accounting policies.

2. During the quarter, the subsidiaries of the Company have incurred / provided for losses on dealing in securities which has resulted in losses amounting to Rs 22753.30 Lakhs for the year. This amounting has been fully changed off to the Profit and Loss Accounting and is stated under administrative and other expenses above. consequently, the holding company has written off loans amounting to Rs 11361.73 Lakhs, which were recoverable these subsidiaries in its stand-alone financial statements.

3. Figures for the period year / period have been regrouped and / or reclassified wherever considered necessary.

Gagan Banga
Director & CEO