1. Deferred Tax:-

The Company has accounted for Deferred Taxation in respect of timing differences in accordance with the requirement of Accounting Standard 22 “Accounting for Taxes on Income”. The Deferred Tax liability comprises the followings:

2. Segment Reporting:-

The Company has been operating significantly in a single segment of Jewellery

3. As per Micro, Small and Medium Enterprises Development Act 2006, the company is required to identify the Micro, Small and Medium enterprises and pay them interest on amount overdue beyond the specified year irrespective of the terms agreed with them. However, management is of the opinion that in view of supplier profile of the company, the liability in any case will be insignificant. The management has rolled out letters for the confirmation from the parties for confirming their registration under the said Act.

4. The balances of creditors and debtors appearing in the balance sheet are subject to balance confirmations/reconciliation at the year end. The management is in the process of obtaining the respective confirmations in the due course. However, the reconciliation of these balances is not expected to result in any material adjustments in the stated balances.