The Company has only one class of equity shares having par value of Rupee 10 per share. Each holder of equity shares is entitled to one vote per share. The company declares and pays dividend in Indian rupees. The dividend (if proposed) by the Board of Directors is subject to the approval of the shareholders in the ensuing Annual general Meeting.

2. Additional information:

(1) Secured loan represent vehicle loans from bank/finance companies which are secured by hypothecation of vehicles of the Company.

(2) UnSecured loan from directors and related parties do not carry any interest, also the maturity is dependent on the funds avaliable with the company.

(3) Loans from Directors includes amount of Rs. 12,56,61,122/-due to Mr. Gokul Tandon, out of this total an amount of Rs. 8,00,00,000 would be converted into Equity Shares on preferential basis.

(4) Details on analysis of borrowings i.e. Maturity profile, Interest rate and Currency of borrowings.

(a) The company in FY 2013-14 has transferred its International SIM card division on going concern basis to Roaml Telecom Ltd. by way of slump sale, pursuant to the above Roam1 Telecom has issued 1,20,00,000 equity shares of Rs. 10/- each fully paid-up at Rs. 56/- premium

3. Exceptional Items

[ Item No. 4(c) ]

Pursuant to the enactment of Companies Act 2013(The Act), the Company has effective revised the useful livesof its fixed assets, in accordance with the provisions of part II of the Act.In case of those assets whose useful life is expired but depreciation charged is less than 95% of the original cost of Asset the difference between depriciation charged till 01/04/2014 and 95% of original cost of the Asset has been passed through profit and loss account.

4. Corporate information

Virtualsoft Systems limited is a listed company and having the presence in USA, U.K. Singapore and India. The vision of the company is to empower business and learning communities with rich "knowledge-on-demand". Company is engaged in: Pioneering Broadband, Virtual Event & Providing Mobile Roaming Services & Solutions.

The Registered Office of the company is:- S-101, Panchsheel Park, New Delhi-110017 and Corporate Office is currently located at C-123, Okhla Phase -I, New Delhi- 110020

5. 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 under the historical cost convention on the accrual basis except for certain financial instruments which are measured at fair values .GAAP comprises mandatory accounting standards as prescribed under section 133 of the Companies Act 2013('Act ') read with rule 7 of the Companies (Accounts) Rules, 2014, the provisions of the Act (to the extent notified) and guidelines issued by the Securities and Exchange Board of India(SEBI).Accounting policies have been consistently applied except where a newly issued accouting standard is initially adopted or revision to an existing accounting standard requires a change in the accounting policy hitherto in use.in India (Indian GAAP). The financial statements have been prepared on accrual basis under the historical cost convention.

6.. Disclosures under Accounting Standard 11 on "Effects on Change in Foreign Exchange Rates"

(a) Foreign currency exposure not hedged by any derivative instrument or otherwise is NIL

(b) Outstanding forward contracts entered by the company for the purpose of hedging its foreign currency exposure

The company do not hedge its foreign currency exposure, accordingly it does not have any outstanding forward contracts

7. Disclosures under Accounting Standard 15 on "Employees benefits"

The Company makes Provident Fund and EDLI contributions to defined contribution plans for qualifying employees. Under the Schemes, the Company is required to contribute a specified percentage of the payroll costs to fund the benefits. The Company recognised Rs. 25,385/- (Year ended 31 March, 2015) for Provident Fund and EDLI contributions ions in the Statement of Profit and Loss.

Provision for gratuity and leave encashment is made as per Management Policy .

(b) The company has entered into operating lease agreements that are renewable on a periodic basis and cancelable at company's option.

(c) The company has not entered into sublease agreements in respect of these leases.

8. Disclosures under Accounting Standard 18 on "Related Party Transactions"

(a) List of related parties

(i) Subsidiary Company

Roam1 Telecom Limited

(ii) Key Managerial Personnel (KMP)

Mr. Gokul Tandan Mr. Rajendra V Kulkarni

(iii) Enterprises over which KMP / Relatives of KMP can exercise significant influence

V Reach Solutions Private Limited M.R. Capital Private Limited Goto Customer Services Private Limited SME Business Services Private Limited Visnova Solution Private Limited Foundation TechnologiesPrivate Limited Marble Arch Estate(P) Limited

9. Other disclosures as per Companies Act, 1956

Pursuant to section 205C of the Companies Act 1956, dividends that are unpaid / unclaimed for a period of seven years or more from the date they become due for payment are required to be transferred to the Investors Education and Protection Fund (IEPF) administered by the central government. The following unpaid / unclaimed dividends have not been transferred to IEPF A/C.

10. Reconcilation and confirmations

Balances of Debtors and Creditors and Loans and Advances to/from parties, Security Deposits are subject to reconcilations and confirmations.

11. Provision for tax

In view of the carried forward losses, no provision for current tax have been made during the year. Provision for Deferred tax has also not been recognized in the Balance Sheet in view of the fact that there exits no virtual certainty supported by convincing evidence that there will be available sufficient future profits against which such deferred tax asset can be adjusted.

12. Intangible assets under development

The company is developing a software called Live Webcast Suite for providing telecom services. No amount has been capitalized during the year. The management is of the opinion that since the process is still going on & hence no amortization is required during this year

13. Previous year's figures

Previous year's figures have been regrouped / reclassified wherever necessary to correspond with the current year's classification / disclosure.

14. Prior period Items

There is no material prior period items included in the statement of profit & loss required to be disclosed as per AS-5, notified by the Companies (Accounting Standard) rules, 2006.

15. Others disclosures

(a) There are no Contingent liabilities as on the date of balancesheet.

(b) As at year end, there was no amount due to any small scale industrial undertaking.

(c) The company has not received any Government Grants during the year.

(d) Figures are rounded off to nearest rupee.