a) Property Revaluation Reserve :

The total adjustments to the Property Revaluation Reserve for the financial year ended 31/03/2015 amounts to Rs.2.17 lacs.

The figure comprises of Rs.0.26 lacs adjusted towards depreciation charged during the financial year ended 31/03/2015 on Revalued Fixed Assets as reflected in Note No. 8 - relating to Fixed Assets, forming part of the Balance Sheet.

The Balance amount of Rs.1.91 lacs relates to those revalued Fixed Assets, having zero useful life as on 1st April'2014, the amounts standing to the credit of revaluation reserve have been transferred to the general reserve.

b) The additions during the financial year ended 31/03/2015 to the General Reserve is Rs.4.72 lacs. The figure comprises of Rs.1.91 lacs, transferred from revaluation reserve, as explained in 2 (b) above. The balance amount of Rs.2.81 lacs relates to the deferred tax liabilities which have been reversed on those assets having zero remaining useful life as on 1st Arpil'2014 and transferred to the General Reserve.

The adjustments towards Fixed Assets having zero remaining useful life as on 1st April'2014, their carrying amounts totaling Rs.9.09 lacs, after retaining their residual value have been transferred to General Reserve. The same has been reflected on Note No. 8 relating to Fixed Assets, forming part of the Balance Sheet.

2. Depreciation

Effective from 1st April, 2014 the Company has charged depreciation on the Straight Line Method based on revised remaining useful life of the Fixed Assets as per the requirement of Schedule - II of the Companies Act, 2013. Whereas the company had charged depreciation based on the Written Down Value Method in the earlier Years. Due to the change in the method of calculation of Depreciation, the depreciation charge for the year ended on 31st March, 2015 is lower by Rs.14.41 Lacs.

3. Disclosure under Section 129 of the Companies Act, 2013

In view of pending one time settlement proposal with the Bank, interest from October, 2012 has not been considered as a stop gap arrangement and not as a deviation of AS1.

4. The company has three cash generating units in respect of income from House Property. These buildings are let out for commercial purposes for which prima-facie assessment of net selling price conducted by management works out to be higher than their carrying cost in the books, thereby ruling out the cause of any impairment loss there for.

5. Pending One time settlement proposal of Term Loan and Cash Credit with State Bank of India, Kolkata, the Company has considered interest on borrowing up to 30th September, 2012 in the books of accounts.. Interest from 1st October, 2012 to 31st March, 2015 as per Management's estimate amounts to Rs.1217.48 Lacs (Previous year Rs.747.45 lacs) which has not been accounted for. However the company is likely to get substantial relief in interest from the one time settlement proposal.

6. The company has made purchases from Micro & Small scale Industries during the year.

The principal amount outstanding as at the end of the year is 4.65 lacs(Previous year Rs.3.22 lacs) and no interest is due or payable on the said amount.

Segment Revenue, Results, Assets and Liabilities include respective amounts identifiable to each of the segments and amounts allocated on a reasonable basis.

7. Earning per share as per Accounting Standard on Earning per Share (AS-20) issued by the Institute of Chartered Accountants of India :-

8. The company was awarded two construction contracts by MES (Military Engineer Services),Kolkata Zone for setting up Infrastructure in Diamond Harbor and Haldia.

MES has during the financial year 2014-15 cancelled both the contracts. The company has initiated appropriate legal proceedings against the said cancellation. Effect of the dispute arising out the above is not ascertainable at this stage.

9. Figures for the previous year have been rearranged / regrouped where found necessary to make them comparable with those of the current year.

10. State Bank of India invoked securitization proceedings action thereof being pending initiation as Company's case is lying with Debt Recovery Tribunal and continuing negotiation of the management with bank for One Time Settlement.