The company has issued only one class of Equity Shares having the par value of Rs. 10/- per share. Each shareholder is entitled to one vote per share.

2 *Term loans are secured by way of pari-passu negative lien on the land & building situated at Kavi Nagar, Ghaziabad.

3 Details of the default amount is as follow : Loan from related Party - Principal Rs. 9,22,26,422/- (Previous Year Rs. NIL), Interest Rs.1,97,96,456/- (Previous Year Rs. 1,27,17,827)

4 Profit/(Loss) from discontinuing operations

5 In view of the Economic/Financial non-viability and on-going labour problems etc., the Company had discontinued its operations of manufacturing of Polyester Fibres and Chips in the earlier year. In previous years, company had entered into a sale agreement for disposal of its entire Plant & Machinery and Building related to the discontinued operations and sold the significant part thereof. The unsold part has been shown as Building held for disposal in note no. 2.15.

6 Total assets includes fixed assets for which binding sale agreements have been entered into and are likely to be settled by 31st March 2016.

7 Contingent Liabilities

8 Contingent Liabilities & Commitments (To the extent not provided for)

Claims against the Company not acknowledged as debts including excise, sales tax, Income Tax, Labour Disputes, Legal and other Disputes Rs. 9,73,06,619/- Previous year Rs. 8,67,21,964/-).

9 Based on the confirmations from the suppliers, who have registered themselves under the Micro, Small and Medium Enterprises Development Act, 2006, received so far with the company, no balance is due to Micro & Small Enterprises as defined under the Micro, Small and Medium Enterprises Development Act, 2006 as on 31st March 2015. Further during the year no interest has been paid or payable under the terms of the said Act.

10 Balances appearing for few inoperative bank accounts, Trade Receivable and Payables, loans & advances and short term borrowing are subject to confirmation, reconciliation and adjustments, if any.

11 The company has provided interest on loan taken from both the secured lenders in accordance with the Memorandum of Understanding signed with them. Similarly, interest recoverable on delayed receipt of sales consideration has been accounted for in accordance with agreed terms. Independent year end confirmations are awaited from the respective parties.

12 Company has started developing the Plots as per the approved plan of UPSIDC and accordingly has incurred an expenditure of Rs.27,64,194/- (Previous year Rs.19,70,444/- excluding write back of Rs. 31,37,718), which is allocated proportionately on the saleable area and unallocated portion made a part of stock in Trade.

13 Particulars Current Year Previous Year

(a) PF Cases pending at various forums 5,895,381 20,002,286

(b) Labour Matters relating settlement pending at 3,898,476 1,646,109

various forums

(c) Revenue collection charges by Tehsil & other - 20,946,436

authorities pending at Hon'able High Court

(d) Sales tax cases under litigation 14,937,402 14,937,402

(e) Excise matter under litigation 19,021,748 19,021,748

(f) Extension Fee payable to UPSIDC pending with 48,495,100 -

Hon'ble High Court

(g) Other Matters 5,058,512 10,167,983

14 Related Party Disclosure

As per Accounting Standard (AS) - 18 "Related Party Disclosures" the Company's related parties and transactions are disclosed below:

15 Considering the Binding Sales Agreement and the provisions as specified in the Accounting Standard-22 "Accounting for taxes on Income" issued by the Institute of Chartered Accountants of India, the company has recognised Deferred Tax assets (DTA) based on the principle of virtual certainty.

16 The Company has claimed losses in the return filed for subsequent years till Assessment years 2014-15 and is of the view that majority of the same will be available for set off against future profits. In view of the losses and unabsorbed depreciation and based on the legal opinion obtained by the company, no provision for tax has been considered necessary in the accounts.

17 During the year, the Company has changed the method of providing depreciation on assets other than Buildings and Plant & Machinery from Written Down Value method to Straight Line Method. Further, useful lives of the assets have been changed in terms of Schedule II of the Companies Act 2013. Due to these changes, depreciation for the year has increased by Rs. 44,635/- with a corresponding reduction in net block and Reserves and Surplus.

18 Segment Information

The primary segment reporting format is determined to be the business segment as the company's risks and rate of return are affected predominantly by difference in business line. Based on these lines, company has identified Trading of fabric, Sale of leasehold plots rights and discontinued business as business segments. The details of the segment revenue, expenses, assets, liabilities and capital employed are given here under:

19 The figures reported in financial statements have been rounded off to the nearest rupee.

20 Previous year figures have been regrouped, rearranged or reclassified where ever necessary.

21 Information regarding Goods Traded

a Description : Lease Plots rights