1. The company has not made any provision for gratuity payable to the
 Managing Director. There are no other employees who are eligible for
 Gratuity payment during the year. The liability as per actuarial
 valuation has not been determined.
 
 2. The balances in sundry debtors, loans and advances, and sundry
 creditors are as per the books of accounts for which the company has
 not obtained confirmations from certain parties. The said balances are
 therefore subject to the confirmation and consequent reconciliation if
 any.
 
 3. In the opinion of the Board of Directors, unless otherwise stated in
 the Balance Sheet and the Schedules annexed thereto, current assets,
 loans and advances as stated in the Balance Sheet have a value on
 realisation in the ordinary course of business at least equal to the
 amount at which they are stated in the Balance Sheet
 
 4. In compliance with Accounting Standard 22 on Accounting for Taxes
 on Income* issued by the Institute of Chartered Accountants of India,
 the Company has during the current year followed Deferred Taxation in
 respect of taxes on income. As a consequence, the company has created
 Net Deferred Tax Liability of Rs. 10,43,851/- in respect of temporary
 differences mainly due to difference in book value and income tax value
 of the block of assets as existing on 31.03.2011 by debiting it to
 Profit & Loss Appropriation Account
 
 5. Related Party Disclosures:
 
 Disclosures as required by Accounting Standard 18 Related Party
 Disclosures are given below:
 
 List of Related Parties (Enterprises commonly controlled or influenced
 by the Major Shareholders or / Directors of the Company):
 
 1. Omega Investment & Properties Ltd.
 
 Key Management Personnel & Relatives
 
 1. A. K. Sethi, Director
 
 2. Varsha Sethi, Director
 
 3. Sharmishta Jadhav, Director
 
 4. D. N. Jha, Director
 
 6. Previous years figures have been regrouped and rearranged wherever
 necessary,