The Company has only one class of equity shares having a par value of Rs. 10 per share. Each holder of equity shares is entitled to one vote per share.

During the year ended 31st March, 2014, the amount of dividend per share recognized as distributions to equity shareholders was Rs. Nil (P.Y. Rs. Nil)

2. Contingent Liabilities

a) Estimated amount of contracts remaining to be executed on capital account and not provided for - Rs. Nil (Previous Year - Rs. Nil).

b) Other Contingent Liabilities - The Company has disputed liability in respect of stamp duty and penalty amounting to Rs. 9,64,934/- raised by the Additional District Magistrate, Nainital vide his order dated 01/03/1993 in respect of freehold lands purchased by the Company in the year 199293. The Company had filed a Revision Application before the Chief Controlling of Revenue Authority ( CCRA ), Allahabad, Uttar Pradesh challenging the order dated 01/03/1993. Vide order dated 31/07/1997, the CCRA had allowed the Revision Application of the Company. The State of Uttar Pradesh { now State of Uttaranchal) has filed a writ petition before the Hon'ble High Court of Judicature at Allahabad, hearing of which is pending. The Company has been legally advised that no provision is required to be made in the accounts in this regard. The title deed of aforesaid lands is impounded by the Additional District Magistrate, Nainital. Further, the Company has already sold the aforesaid lands during the financial year 2005-06.

3. In the opinion of the Board, the Current Assets and Non Current Assets have a value on realisation in the ordinary course of business at least equal to the amount at which they are stated.. 4. Segment Reporting

The Company is primarily engaged in investment and financial activities. These in the context of Accounting Standard - 17 on 'Segment Reporting' issued by 'The Institute of Chartered Accountants of India', in the opinion of the management, are considered to constitute one single primary segment.

5. Related Party transactions

Related Party disclosure as identified by the Management in accordance with the Accounting Standard-18 issued by the Institute of Chartered Accountants of India is disclosed as under

a) List of Related Parties: -

i) Key Management Personnel / Directors :

a. Shri R.G. Dhoot

b. Shri L. K. Daga

c. Shri A.K. Newar

d. Shri O.P. Bhalotia

e. Shri A.K. Kothari

b) During the year, no transaction was carried out with any of the related parties.

6. The Company is entitled to create Deferred Tax Asset in the books of accounts with respect to timing difference of carried forward capital loss under the Income Tax Act, 1961. However, in the absence of virtual certainty of sufficient future taxable capital gains, Deferred Tax Asset has not been recognized on the ground of prudence.

7. The Company has created Reserve Fund as required under Section 45IC of the Reserve Bank of India Act, 1934.