a) The company follows mercantile system of accounting and recognizes
 income and expenditure on accrual basis except retirement benefits
 those with significant uncertainties.
 
 b) Sundry Debtors for more than 6 months are Rs. 49,728,296.00 and less
 than 6 months are Rs. 178,636.49.
 
 c) Miscellaneous Expenditure:
 
 Preliminary expenses are amortized in equal installment over a period
 of ten years. Authorized capital expenditure consisting of
 advertisement expenses is written off over a period of ten years in
 equal annual installment. However such amortization over the period of
 10 years is not in conformity of provisions of Accounting Standard -26
 Intangible Asset as issued by the ICAI. Such expenditure is to be
 charged to profit and loss account as per the said Accounting Standard.
 
 d) Fixed Assets:
 
 i) Fixed assets are stated at original cost less depreciation.  Cost
 includes inward freight and expenses incidental
 to acquisition and installation.
 
 ii) Depreciation on fixed assets is provided on Straight Line method at
 the rate specified in the schedule XIV to
 the Companies Act, 1956.
 
 iii) Intangible Asset: The Company amortises the Brand @10%. Its useful
 life and probability of flow of future
 economic benefits cannot be ascertained.
 
 e) Impairment:
 
 In accordance with Accounting Standard 28 - Impairment of Assets, the
 carrying amounts of the Company''s assets including intangible assets
 are reviewed at each Balance Sheet date to determine whether there is
 any indication of impairment.
 
 f) Investments:
 
 Long - term investments are carried at cost less any other than
 temporary diminution in value determined separately for each individual
 investment.
 
 g) Inventories:
 
 Inventories include raw materials and finished goods. Raw Material has
 been valued on FIFO basis and Finished Goods are valued at cost or
 market price whichever is less. There is no change in system of
 valuation.
 
 h) Provisions and contingencies:
 
 Provision is recognised in the Balance Sheet when the Company has a
 present obligation as a result of a past event; it is probable that an
 outflow of economic benefits will be required to settle the obligation;
 and a reliable estimate of the amount of the obligation can be made. A
 disclosure by way of a contingent liability is made when there is a
 possible obligation or a present obligation that may require an outflow
 of resources. Where there is a possible obligation or a present
 obligation that the likelihood of outflow of resources is remote, no
 provision or disclosure is made.
 
 i) Related Party Disclosure as per Accounting Standard 18:
 
 List of Related Parties
 
 1.  Vyaas Technologies Pvt. Ltd.
 
 2.  Abbee Consumables & Peripherals Sshope Ltd.
 
 3.  Gloima Imaging Technologies Pvt. Ltd.
 
 During the year, company has granted loans to related parties.
 Outstanding balances as on 31.3.2011 are Rs.  41,049,557.78. Out of
 this, Vyaas Technologies Rs. 1,602,666.78, Mr. B. B. Somani Rs.
 36,477,394.00 Mrs. Priya B. Somani Rs. 2,657,637.00, Mrs. R. A.
 Joglekar Rs. 311,860.00. These parties are not paying any interest on
 outstanding amount. Not a single party has paid interest and principal
 during this year. Company has also sold goods to M/s Abbee Consumables
 and Peripherals Sshoppe Ltd. amounts to Rs. 954,022.00 in which
 Directors Mr. B.B.Somani and Mrs. PB.Somani are interested.
 
 j) As per the provisions of the Section 383Aof the Companies Act, 1956,
 company is required to appoint a whole time Company Secretary. The
 Company has appointed a whole time Company Secretary.
 
 k) Company''s scrip has been suspended by BSE since 31.12.2007, due to
 non - compliances of the Listing Agreement. As per explanation given by
 the Company, company has following up with concern authorities for
 revocation of suspension.
 
 I) Consequent on the application of Accounting Standard 22 Accounting
 for Taxes on Income
 
 The Deferred Tax Assets has not been recognized; since there is
 accumulated depreciation loss and there is not virtual certainty that
 there will be future taxable income as required by Accounting
 Standard-22.
 
 The deferred tax liability has been calculated applying income tax rate
 of 30.90%.
 
 The company is enjoying income tax holidays under section 80IC of the
 Income Tax Act. The time differences originating in the tax holiday
 period and reversing in the tax holiday period are not provided for in
 terms of accounting standard interpretation note on AS-22.
 
 m) Segment information as per Accounting Standard 17: Sheet Attached.
 
 n) The Company has not made any provision for retirement benefits
 including liabilities under the Payment of
 Gratuity Act, 1972.
 
 o) Debtors, loans and advances, current liabilities and balances in
 other personal accounts as at the year-end are
 subject to confirmation and reconciliation.
 
 s) Employee Benefits:
 
 Defined Contribution Plan: Employee benefits in the form of
 contribution to Super Provident Fund managed by Government Authorities,
 Employees State Insurance Corporation and Labour Welfare Fund are
 considered as defined contribution plan and the same is charged to the
 Profit & Loss Account of the year when the contributions to the
 respective funds are due.
 
 Defined Benefit Plan: Retirement benefits in the form of Gratuity, Post
 retirement medical benefit and Death & disability benefit are
 considered as defined benefit obligations and are not provided for.
 
 t) The company has an online ERP for recording all transactions in
 relation to purchase, sale, inventory, production and other accounting
 transactions. However, the system is not optimum in terms of its
 efficiency and effectiveness.
 
 u) Contingent Liability:
 
 As per the Certificate issued by the Management following are the cases
 under dispute and hence contingent in nature: