NOTE NO. 1. - CONTINGENT LIABILITIES AND COMMITMENTS: i. Contingent Liabilities:

Claims against the company not acknowledged as debt: Rs Nil (Previous year: Rs Nil)

The company has given guarantee to the bank on behalf of its Wholly Owned Subsidiary, Urdhwa Chemical Co Pvt Limited of Rs 27 crores. (Previous year Rs 27 Cr) and Lasa Laboratory Private Limited of Rs 45.00 crores ( previous year Rs 45.00 crores) Contingent Liability in respect of income tax demands against which company has filed appeals with Income Tax Appellate

Tribunal for Assessment Years 2009-10, 2010-11 and 2011-12. The total demand ( net of payments ) is Rs 211.48 Lakhs Contingent Liability in respect of sale tax demands against which company has filled appeal / granted stay order for Financial Years 2009-10. The total demand (net of payments) is Rs 20.08 Lakhs

We have examined all the contracts, claims and litigations against the Company and have analyzed the likely impact of the same as indicated above. We certify that apart from the contingent liabilities indicated above, the Company does not have any other contingent liabilities.

NOTE NO. 2. –

- The Previous year figures have been regrouped/re arranged wherever necessary to make it comparable with the current year.