1.1. Financial statements of the Company have been prepared ongoing concern basis' despite:

a. Complete erosion of net worth as at 31 March 2014;

b. Current liabilities exceeded the current assets by Rs.336.31 Lakhs at 31 March 2014; and

c. Uncertainty associated with the operations of the company.

1.2. Contingent Liabilities not provided for in respect of:

Particulars                                     As at             As at
                                        31 March 2013     31 March 2014    
     
i) Bank Guarantees issued by Bankers        26,00,000         37,20,000

1.3. Interest accrued and due on Distributor/Dealer deposits

In view of the Company's adverse financial position, interest payable to various distributors and dealers on their deposits would be negotiated with them for waiver. Hence, no provision is made for interest for the current year amounting to Rs.6,34,899/-(Previous year: Rs.6,40,343/-) and interest for earlier years amounting to Rs.78,05,598/. Had the interest provision been made, the profit for the current year would have been less by Rs.6,34,899./- and current liabilities would have been more by Rs.84,40,497/-.

1.4. Claims receivable (included under other current assets)

Claims receivable are the minimum commitment charges and the operational loss upto 31-03-2013 in respect of Aurangabad bottling plant, collectible from the operations Agent.

1.5. Additional information

a. Value of imports calculated on C.I.F basis during the financial year: The Company has no imports for the current financial year and the previous year to report.

b. Expenditure in foreign currency during the financial year on account of: The Company has no expenditure in foreign currency for the current financial year and the previous year to report.

c. Earnings in foreign exchange:

The Company has no earnings in foreign exchange for the current financial year and the previous year to report.

d. The value of consumption of imported and indigenously obtained raw materials, stores and spare parts and the percentage of each to the total consumption:

2. Disclosures in accordance with the requirements of Accounting Standards stated under the Companies (Accounting standards) Rules 2006.

The Company has made disclosures in accordance with the accounting standards as applicable for the year under report.

2.1. Segment Reporting

The Company operates only in one business segment namely, sale of gas and hence the requirements of AS - 17 are not applicable.

3. Taxes on income

3.1. Current Tax

Provision for current tax is not made, in view of the brought forward unabsorbed depreciation and business loss, in accordance with the provisions of the Income-tax Act, 1961 as well as book profits tax under Section 115JB of the Income-tax Act, 1961.

3.2. Deferred tax

In view of the absence of reasonable certainty that sufficient future taxable income will be available against which deferred tax asset can be realized, the Company has considered it prudent not to provide for deferred tax asset of Rs.4.81 crores (Previous Year Rs. 4.84 crores), in accordance with Accounting Standard - 22, Accounting for taxes on income, resulted on account of brought forward losses and unabsorbed depreciation.

4. Dues to Micro, Small and Medium Enterprises

On the basis of details furnished by the suppliers, there are no amounts to be reported as dues to micro, small and medium enterprises as required under section 22 of the Micro, Small and Medium Enterprises Development Act, 2006 (`MSMED Act').

5. Previous Year's figures

Previous Year's figures have been reclassified, wherever necessary so as to conform with the requirements of the Revised Schedule VI to the Companies Act, 1956.