1 WBFC Loan is secured by way of

a. First Charge on the whole of the Plant and Machinery of the Company situated only at its plant at Palashdiha, Kanyapur, Panchgachhia Road, Asansol,Burdwan both present & future.

b. Second Charge on the Current Assets of the company situated only at its plant at Palasdiha, Kanyapur, Panchgachhia Road, Asansol, Burdwan both present & future.

c. WBFC loan is restructured on 01.02.2016 as per ref. no. ODGM(M)/BCL/4900

2 Swift Dzire Loan from SBI, Asansol is Secured by hypothecation of the said Car.

3 The consortium account from SBI Term Loan,SBH term Loan, CBI Term Loan & UBI Term Loan is secured by way of:-

a. First pari passu mortgage of Factory Land and Biuilding at Patratu with all term lenders.

b. First Pari Passu charge by way of hypothecation with all term lenders on the borrower's plant and machinery and all other movable fixed assets, both present and future of the Borrower's Patratu Unit.

c. First Pari Passu Hypothecation Charge of Capital Work in Progress (Patratu Unit) on pari passu basis with all Term Lenders

d. Second Pari Passu charge with all the lenders by way of hypothecation of the entire Stock/ Work-in-Progress/Receivables and other current assets of the borrower of the Patratu Unit.

e. Common collateral for patratu Unit Lenders including SBI (for the loans to the Patratu Unit)

(i) 3rd Pari Passu hypothecation charge over the moveable fixed assets of the Asansol unit (1st charge with WBFC and 2nd charge with SBI for the credit facilities granted to Asansol

(ii) 2nd hypothecation charge pari-passu with all term lenders over the entire current assets of the Asansol unit (1st charge with SBI for the credit facilities granted to Asansol Unit)

(iii) 2nd pari-passu mortgage and charge in respect of the land, building & sheds of the Asansol Unit comprised in Mouza - Palashdiha, P.S. Asasnol

(iv) Pledge of Promoter's shareholding comprising of 21799826 equity shares of the face value of Rs.10 each.

f. Personal guarantee of the Promoter Directors of the company.

g. Car Loan, Tipper Loan, Payloader Loan is secured by hypothecation of said Car, Tipper & Payloader.

h. Amount outstanding in Term Loan from SBI (TL-I & TL-II) has been converted into Foreign Currency Loan to the extent of USD equivalent of 44.85 crores.

Rate of Interest of TL-I & TL-II is 5.25% & 4.5% respectively, over the 6 months LIBOR at monthly rest on fully hedged basis.

i. The consortium banks - SBI, SBH, CBI & United Bank of India have sanctioned

(i) Term Loan 1 of Rs. 125 crores has been fully disbursed. Repayment of Rs. 1.4 crores has been made in F.Y.2014-15

(ii) Out of the sanctioned amount of Rs. 53.96 crores of Term Loan of 2, an amount of Rs. 51.20 crores has been disbursed till 31st March, 2016.

(iii) Out of the sanctioned amount of Rs. 20.27crores of FITL , an amount of Rs. 20.24 crores has been utilized till 31st March, 2016.

Notes : Cash Credit of Asansol Unit is secured by

a) Way of first charge by hypothecation of the entire current assets of the Asansol unit of the company.

b) Way of second charge on the entire fixed assets of the Asansol Unit of the Company.

c) Equitable Mortgage (1st Charge) over Factory Land & building /Factory Shed at Palashdiha, Kanyapur, Asansol and Equitable Mortgage (1st Charge) of Land at Dharma Mouza.

d) STDR of face value of Rs.80 lakhs and LIC Policy of Rs.0.32 lakhs in the name of Shri Ashok Gutgutia.

e) Personal Guarantee of Shri Ashok Gutgutia & Shri Manoj Kumar Agarwal.

Cash Credit of Patratu Unit is secured by :

a) Way of first charge by hypothecation of the entire current assets of the Patratu unit of the company on pari -passu basis

b) Way of second charge on pari-passu basis on the Factory Land & Building of the Patratu unit of the Company.

c) Way of second charge on pari-passu basis on the Plant & Machinery and all other movable Fixed assets, both present & future of the Patratu unit of the Company.

d) Way of second charge on pari-passu basis on the Capital work in Progress of the Patratu unit of the Company.

e) Common collateral as detailed in Schedule 3 note 3(e)

f) Personal Guarantee of Shri Ashok Gutgutia & Shri Manoj Kumar Agarwal.

(d) Right of recompense to the term lenders for the relief and sacrifice extended, subject to provisions of Restructuring Guidelines amounting to Rs. 37.79 crores.

4. The figures of Excise Duty paid are disclosed in the Books at the net figures after taking credit for rebate/ refund of Excise Duty.

5. Figures pertaining to previous year have been re-grouped/re-arranged, reclassified and restated, wherever considered necessary, to confirm to the classification adopted in the current year.

6. There were no Foreign exchange inflow and outflow during the year except a Term Loan from State Bank of India, Ind Finance Branch, Kolkata, to the tune of $6750000.00.

7. Deferred Tax is recognized subject to consideration of prudence in respect of deferred tax assets on timing difference being the difference between the taxable income and accounting income that originate in one period and are capable of reversal in one or more subsequent periods.

8. Service Tax is also being determined in accordance with the provision of Service Tax Law.

9. The company operates in Production and Sales of Cement and reseller of goods under the name & style of Burnpur Cement Limited. However there were no trading activities during the current year. In current year, no segment reporting is required.

10. In terms of Section 22 of Micro, Small & Medium Enterprises Act 2006, the outstanding to these enterprises are required to be disclosed. However, these enterprises are required to be registered under the Act. In the absence of the information about registration of the enterprises under the above Act, the required information could not be furnished. In view of above and in absence of relevant information, the auditor has relied upon the same.

11. Gratuity

The Company has defined gratuity plan. Every employee who has completed 5 years or more of service is entitled to gratuity on terms not less favourable than the provisions of the Payment of Gratuity Act, 1972. The amount of contribution to be made is arrived at based on Actuarial valuation done at the balance sheet date, as given below and is accounted accordingly:

12. Sundry Debtors, Sundry Creditors and advances to parties as reflected in the financial statements are subject to confirmations from the respective parties and management of the Company.

13. In the opinion of the management, the current assets, loans and advances have a value on realization in the ordinary course of business, which is at least equal to the amount at which they are stated.

14. Interest on fixed deposits taken in the financial statement is as per management's certificate.