2. The Company has during the year not received any information from any vendor regarding their status being registered under Micro, Small and Medium Enterprises Development Act, 2006.

3. In the opinion of the Management the Current Assets, Loans and Advances have a value on realization in the ordinary course of business at least equal to the amount at which they are stated in the Balance Sheet except stated otherwise.

4. Pending settlement with the a party under Slump sale arrangement of the erstwhile Sugar Division of the company in earlier years, a sum of Rs320.07lacs (Previous Year Rs295.99lacs)is deposited in escrow account as fixed deposit in bank as shown in Other Bank balances in Note 13.The company is recognizing interest income thereon.

5. Tax Expense is the aggregate of current year income tax and deferred tax charged to the Profit and Loss Account for the year.

a) Current Year Charge:

Income Tax provision of Rs.42.00 Lacs(Previous Year Rs.3.00lacs) has been made towards MAT u/s 115JB and no tax is payable on regular income.

b) Deferred Tax

Deferred tax asset and liability are recognized on the timing differences between book records and income tax records in accordance with the provisions of AS 22 of Taxes on Income. Keeping in view the uncertainty of future profits for setting off the deferred tax asset the same are not recognized in the books during the year.

6. Disclosure of interest in joint ventures under AS 27 of 'Financial Reporting of Interest in Joint Ventures: Name of Joint venture: Galaxy Monnet InfraheightsPvt Ltd

Proportion of ownership interest: 50%

Operations: The joint venture entity is in the business of real estate development and has taken up a project in Gurgaon. Construction of the project is in progress as at 31.3.2015.