i) The Company has only one class of equity shares having a par value of Rs.10/- each. Each holder of a equity share is entitled to one vote per share. The Company declares and pays dividend in Indian rupees. The holders of equity shares are entitled to receive dividend as declared from time to time. The Company has not declared dividend for the year but dividend was declared for the previous year ended 31st March, 2013.

ii) In the event of liquidation of the Company, the holders of equity shares will be entitled to receive the remaining assets of the Company after distribution of all preferential dues. The distribution will be in proportion to the number of equity shares held by the shareholders.

2. Contingent Liabilities not provided for in respect of:

(a) Bank Guarantees outstanding Rs.1,07,000/- (previous year Rs. 1,07,000/-) against which fixed deposit receipts of Rs.2,11,231/- (previous year Rs.1,94,956/-) pledged with a bank.

(b) Income Tax demand of Rs.32,64,089/- (previous year Rs. 32,64,089/-) for the Assessment Year 1988-89 has been disputed by the Company and an appeal against the same is pending before the Hon'ble Bombay High Court. The Company has deposited Rs.21,59,608/- (previous year Rs. 21,59,608/-) against the said demand.

(c) Disputed demand of Municipal Corporation of Greater Mumbai towards arrears of property tax on account of revision of rateable value pertaining to earlier years, amounting to Rs.13,15,419/- has been deposited with Jolly Bhavan No. 1 Commercial Premises Co-operative Society Ltd. pending outcome of Appeal filed by the Company.

(d) The Company has given an undertaking/indemnity bond to Jolly Bhavan No. 1, Commercial Premises Co-operative Society Ltd on 17th August 2012, that in the event the Society is called upon by MCGM to pay the additional demand of lease rent from 14.12.2000 onwards, then this additional liability will be paid by the Company. The amount is not ascertainable.

3. There are no dues outstanding to any micro, small and medium enterprises.

4. Employee Benefits

As per Accounting Standard -15 "Employees Benefits", the disclosure of Employees Benefits as defined in the Accounting Standard are given as below:

a) Defined Contribution Plan

The Company makes contribution at a specified percentage of its payroll cost towards the Employees Provident Fund (EPF) for qualifying employees.

The Company recognised Rs. 1,13,914/- (Previous Year Rs. 1,39,880/-) towards provident fund contribution in the Statement of Profit and Loss.

b) Defined Benefit Plans

The Company provides annual contributions as a non-funded defined benefit plan for qualifying employees. The gratuity scheme provides for payment to vested employees as under :

i) On normal retirement / early retirement /withdrawal / resignation :

As per the provisions of Payment of the Gratuity Act, 1972 with a vesting period of 5 years of service.

ii) On death while in service :

As per the provisions of the Payment of the Gratuity Act, 1972 without any vesting period.

5. The previous year's figures have been reworked, regrouped, rearranged and reclassified wherever necessary. Accounts and other disclosures for the preceding year are included as an integral part of the current year financial statements and are to be read in relation to the amounts and other disclosures relating to current year.