The company main business implementation of an Integrated Aqua Culture Project. The Indian Aqua Industry continued to pass through a difficult period, in view of Virus and other related problems. Due to persistent viral attacks most of the corporate aquaculture companies had discontinued their operations and shut their processing plants due to heavy losses. The company is considering various possibilities to restructure its business operations. During the year under review, company had earned a Gross Income of Rs.15.76 lakhs. This includes Lease Income of Rs. 3.15 lakhs received from M/s. Samasthi Gas Energy Ltd in respect of Lease Agreement with Ms. Samasthi Gas Energy Ltd and Rs. 11.88 lacs from leasing of ponds for aqua culture to Mr. D. Subba Raju. In view of the not so favorable situation prevailing in the aqua industry, the company is considering various possibilities to restructure its business operations.

2 The Company has drawn up its accounts on a Going Concern basis not withstanding the erosion of its net worth, accumulated losses and closure office business. In order to overcome the current situation and to put the company on track, it is exploring alternative business operations

3. Interest on amounts brought by M/s. Nagarjuna Construction Company Limited [NCCL] for settlement of Bank dues was not provided as NCCL assumed the liability to pay out the secured creditors under corporate guarantee against which mortgage of immovable properties is made.

4. Balances from sundry debtors, Loans and Advances and Sundry Creditors are subject to confirmation.

5 Previous year figures have been regrouped/reclassified wherever necessary to conform to current year classification.