BCC FUBA INDIA LIMITED, in collaboration with Fuba Hans Kolbe of Germany, entered the Indian market in 1990 as a manufacturers of Single Sided, Double Sided and Multilayered (up to 8 layers) PRINTED CIRCUIT BOARDS (PCBs). In course of time BCC FUBA has obtained ISO 9001 (2000) certification, approval by the Under Writers Laboratory (U.L) of U.S.A, domestic approval by CACT and C-Dot etc. Consequently BCC FUBA can meet DIN, US MIL standards and IPC specifications.

Note: 2. Contingent Liabilities and Commitments

Contingent Liabilities

(a) Claims against the Company not acknowledges debt

(I) The departmental petition with the Income Tax Appellate Tribunal against the order of CIT (Appeal) for the Assessment Year 1992-93 is decided in the favour of the Company. However demand of Rs.1,63,810/- raised by the department was paid and the same is due for refund. A representation is filed by the Company with the concerned Authority of Income Tax Department for obtaining refund. However, the department has filled an appeal with honb'le High Court against the decision of Income Tax Appellate Tribunal. The case is pending for hearing.

(ii) A suit has been filled by M/s Thakur Associates against the company in the court of Civil Judge Senior Division Nalagarh, Distt Solan (H.P) for payment of Rs. 2,31,191/- for freight & cartage which has not been recognized by the company. The judgement by the court on 29.09.2013 has gone against the company. However, the Company is in the process of appealing against this judgment at a higher court. Consequently, it has not provided forthesame.

3. Contingent Liabilities -

Claims against the Company not acknowledged as debt

(a) The departmental petition with the Income Tax Appellate Tribunal against the order of CIT (Appeal) for the Assessment Year 1992-93 is decided in the favour of the Company. However demand of Rs. 1,63,810/- raised by the department was paid and the same is due for refund. A representation is filed by the Company with the concerned Authority of Income Tax Department for obtaining refund. However, the department has filled an appeal with honb'le High Court against the decision of Income Tax Appellate Tribunal. The case is pending for hearing.

(b) A suit has been filled by M/s Thakur Associates against the company in the court of Civil Judge Senior Division Nalagarh, Distt Solan (H.P) for payment of Rs. 2,31,191/-for Freight & cartage which has not been recognized by the company. The judgment by the court on 29.09.2013 has gone against the Company. However, the Company is in the process of appealing against this judgment at a higher court. Consequently, it has not provided forthe same.

4. The Management has decided not to write off Miscellaneous Expenditure amounting to Rs.51,23,445 up to 31.03.2014 (Previous Year Rs. 51,23,445) the same will be charged to Profit & Loss account in the year in which company will earn adequate profits.

5. In the opinion of the Management, Current Assets, Loans and Advances are of the value stated, if realized in the ordinary course of business except otherwise stated. The provision for all the known Liabilities is adequate and not in excess of the amount considered reasonably necessary.

6. In respect of the dispute between the company and VHEL Industries Ltd., (Formerly known as Vikas Hybrids & Electronics Limited) the arbitrator had made an award for Rs. 12,64,930.89 towards the price of the PCBs supplied and Rs.29,55,684.00 as claim towards price of the PCBs manufactured for VHEL Industries Ltd., but not lifted by them, with interest @15% p.a. from 01.04.1993 till payment or the date of decree whichever is earlier in favour of the Company. The company VHEL has filed an application for rehabilitation with Board for Industrial and Financial Reconstruction during 2002 .The management has undertaken a time bound plan to work on recovering this amount. In the next twelve months if no progress is made, accounts receivables created for this supply will be written off.

7. The Company has to recover a sum of Rs 526785/- from M/s Rikken Instrumentation Ltd., Panchkula, Haryana. The matter is pending before District Court, Saket Delhi for adjudication. The management is hopeful of recovering this pending amount.

8. The Company has also filed winding up petition before Hon'ble High Court, Punjab & Haryana at Chandigarh to recover a sum of Rs 10,80,563/- plus interest thereon from M/s Rikken Instrumentation Ltd., Panchkula, Haryana. The matter is pending and management is hopeful of recovering this amount.

9. The Company has to recover a sum of Rs. 37,99,511/- from M/s Genius Electrical & Electronics Pvt. Ltd., Delhi. The matter is pending before District Court, Tees Hazari, Delhi for adjudication. The party has made some payment through RTGS and the sum now outstanding is Rs. 2670152/- plus interest thereon.. The management is hopeful of recovering this pending amount.

10. The Company has also filed winding up pettion before Hon'ble High Court Delhi to recover a sum of Rs.26,70,152/- plus interest from M/s Genius Electrical & Electronics Pvt. Ltd., Delhi. The matter is pending and management is hopeful of recovering this amount.

11. The Company has to recover a sum of Rs. 13,37,399/- from M/s Vijaya Lakshmi Electronics Delhi. The matter is pending before District Court, Saket Court, Delhi for adjudication. The management is hopeful of recovering this pending amount.

12. The Company has to recover a sum of Rs. 434293/- from M/s Kortek Electronics India Ltd., Delhi. The matter is pending before District Court, Saket, Delhi for adjudication. The management is hopeful of recovering this pending amount.

13. The personal accounts of parties are subject to confirmation and the management reasonably mentioned.

14. Forfeited shares have not been considered forthe calculation of Earning per share.

15. Previous year figures have been regrouped & reclassified wherever necessary to make them comparable to the current year classification.