The rights, preferences and restrictions attaching to each class of shares including restrictions on the distribution of dividends and the repayment of capital;

a) The Company has only one class of shares referred to as equity shares having a par value of Rs.10/-. Each holder of equity shares is entitled to one vote per share

b) The Company declares and pays dividends in Indian rupees. The dividend proposed by the Board of Directors is subject to the approval of the shareholders in the ensuing Annual General Meeting.

c) In the event of liquidation of the Company, the holders of equity shares will be entitled to receive any of the remaining assets of the Company, after distribution of all preferential amounts. However, no such preferential amounts exist currently. The distribution will be in proportion to the number of equity shares held by the shareholders.

2 CONTINGENT LIABILITIES

Particulars                                    year           Year
                                              ended          ended
                                           31-03-2014      31-03-2013

Guarantees to Banks                         510,113         510,113

As the Company's business activities falls within single segment the disclosure requirement of Accounting Standard 17 "Segment Reporting" issued by the institute of Chartered Accountants of India is not applicable.

4 Disclosure under Micro, Small and Medium Enterprises Development Act, 2006:

There are no Micro, Small and Medium Enterprise, to whom the company owes dues, which are outstanding for more than 45 days as at 31st March, 2014. This information as required to be disclosed under the Micro, Small Medium Enterprise Development Act, 2006 has been determined to the extent such parties have been Identified on the basis of Information available with the company.

5 Deferred Tax Asset / Liability:

The. management has taken the view that, flowri culture activity comes under agricultural activity and since agricultural income is exempted from income tax, there is no need to recognise deferred tax asset/liability in the books of account.

6 Foreign Exchange Fluctuations:

As per the above stated accounting policy, amount of foreign exchange fluctuations debited to Profit and Loss Account during the period was Rs.33,270/- (previous year credited Rs.3,20,622/-)

7 Note on Land:

The company has acquired land in the name of individuals. The rules in Karnataka State do not permit the. companies to hold agricultural land in their names. However, the company has entered into agreement with the respective individuals for execution of necessary legal documents in respect of the title of the land. The consideration for purchase of said land has already been paid out of the company's funds, hence treated as an asset of the company.

8 Previous Years Figures:

The previous year's figures have been reworked / regrouped / rearranged / reclassifed whereever necessary. Amounts and other disclosures for the preceding year are included as an integral part of the current year financial statements and are to be read in relation to the amounts and other disclosures relating to the current year.

9 Balances subject to Confirmation:

Balances under sundry creditors, deposits, Investment in share application money, advances, amounts payable / receivable are subject to confirmation and reconciliation.