1. Gratuity Scheme

The liability towards gratuity as at the yearend has been ascertained on the basis of adularia valuation. Gratuity liability has been funded with Kotak Mahindra Old Mutual Life Insurance Limited during the year. The premium paid during the year after adjusting provision in the books has been charged to profit and loss account. The additional liability as per actuarial valuation at the yearend has been provided for.

2. Leave Encashment

The liability towards Leave Encashment to employees as at the yearend has been ascertained on the basis of actuarial

Which the Company has preferred an appeal

3) Balances of Sundry debtors. Sundry creditors and loans and advances are subject to confirmation and reconciliation if any.

4) The Company's main business is financing, investment m shares I debentures, investment in mutual funds, investment n properties etc. and all the activities of the Company are related to its main business. As such there are no separate reportable segments as defined by Accounting Standard-17 on 'Segment Reporting’.

5) Related Party Information: Pursuant to AS-18

i) Relationships

a) Where control exists

Anju R. Innani - Managing Director.

Estate of Late Shri. Ramesh R. Innani- Husband of Managing Director.

Ramesh R. Innani HUF - Karla Anju R. Innani (M.D.)

Mikhil R. Innani - Son of Managing Director.

7) Pursuant to Accounting Standard-22 issued by the Institute of Chartered Accountants of India, current tax is determined at the amount of tax payable in respect of estimated taxable income of the year. Deferred Tax resurfacing from timing difference between book and taxable profit for the year is accounted for using the tax rates and laws that have been enacted on the balance sheet date. Deferred Tax Asset has not been recognized due to uncertainty of future profit. The wording of the same is as under -

8) Estimated amounts of contracts remaining to be executed (Net of Advances) Rs. 1.62.12.928/- (Previous Year Rs. 1.76.44,050/-)

9) Disclosures m accordance with Revised AS - 15 'Employee Benefits*.

A. Defined Contribution Plan

The company has recognized the Mowing amounts in the profit and loss accounts for the year

10) Figures are rounded off to the nearest rupee and previous year's figures are regrouped and rearranged wherever necessary