2. Balances under the heads 'Current Assets', 'Loans and Advances' and 'Current Liabilities' are subject to confirmation from respective parties.

3. In the opinion of the Board of Directors, the current assets, loans and advances are approximately of the value stated, if realized in the ordinary course of Business.

4. Previous year figures have been regrouped and rearranged wherever necessary.

5. No Provision for Taxation has been made in view of absence of taxable income.

6. All known liabilities have been provided for in the books of accounts for the year under Report.

7. In the opinion of the Board of Directors of the company there is no contingent liability as on 31st March, 2011. (Previous Year -Nil-)

8. In accordance with the Accounting Standard-22: 'Accounting for Taxes on Income' issued by the Institute of Chartered Accountants Of India and followed by the Company; in view of past year losses and unabsorbed depreciation and uncertainty about sufficient future taxable income even though in Current Year there is loss, the Deferred Tax Assets/Liabilities has not been recognized.

9. Additional information pursuant to the provisions of paragraphs 3 and 4 of part II of Schedule VI of the Companies Act, 1956.

(a) Particulars of Licensed and Installed Capacity and Actual Production (as certified by the management and accepted by the auditors without verification being a technical matter):

(c) Expenditure and earnings in foreign currency during the year: Earnings-Rs. Nil

(d) Amount remitted during the year in foreign currency on account of Dividend Rs. Nil

10. Loans and Advances of Rs. 413.56 lacs included (i) Rs. 49.34 lacs in respect of which the hon'ble City Civil Court, Ahmedabad has passed decree which is pending for execution,

(ii) Rs. 20.18 laces in respect of which the company has filed a suit for recovery. The management is of the opinion that the aforesaid amounts are good and recoverable and hence no provision for bad debts/ written off has been made.