1) Estimated amount of contracts remaining to be executed on capital
 account not provided for Rs. 1,064.38 Lacs (Previous year Rs. 724.98 Lacs).
 
 2) Contingent Liabilities:
 
 (a) Counter guarantees given to the banks in respect of various
 guarantees issued by the banks to third parties Rs. 40.33 Lacs (Previous
 year Rs. 92.74 Lacs).
 
 (b) Letter of credit opened and outstanding Rs. 368.86 Lacs (Previous
 year Rs. 429.15 Lacs).
 
 (c) Other claims against the Company not acknowledged as debts amount
 unascertainable.
 
 (d) Claims from employees and former employees amount unascertainable.
 
 (e) Disputed tax liabilities:
 
 i) Excise Duty and Service Tax Rs. 203.73 Lacs (Previous year Rs. 193.93
 Lacs).  
 
 ii) Income-tax Rs. 1.19 Lacs (Previous Year Rs. 38.06 Lacs).
 
 3) As far as balances of creditors are concerned the Company has
 obtained the balance confirmations on perpetual, basis from most of the
 suppliers including all major suppliers. While in case of Debtors,
 reconciliation with major parties is done pending formal confirmation.
 
 4) In compliance with the Accounting Standard-2 (AS-2) issued by the
 Institute of Chartered Accountants of India (ICAI), the Company has
 included excise duty on closing stock of finished goods amounting to Rs.
 50.06 Lacs (Previous Year Rs. 34.80 Lacs) and the same has been claimed
 as expenditure.  However this charge has no impact on the profit of the
 Company for the year under review.
 
 5) Maximum balance due during the year from Banco Aluminum Ltd, a
 company under the same management, is Rs. 7.26 Lacs (Previous year Rs. 3.24
 Lacs)
 
 6) Based on the information available with the Company and relied upon
 by the auditors, the disclosure requirement as prescribed under the
 Micro, Small & Medium Enterprises Development (MSMED) Act, 2006 is as
 under:
 
 7) In compliance with Accounting Standard 22 (AS-22) Accounting for
 Taxes on Income, the Company has recognized deferred tax liability
 (net of assets) arising on account of timing differences, being the
 difference between the taxable income and accounting income, that
 originates in one period and is capable of reversal in one or more
 subsequent period(s).
 
 8) The Company has identified manufacturing of automobile components
 as its sole primary segment.  Thus the disclosure requirements as set
 out in Accounting Standard 17 (AS-17) Segment Reporting are not
 applicable.
 
 9) Legal & professional charges include * 1.50 Lacs (Previous Year
 0.50 Lacs) paid to Shah & Associates, wherein some of the partners of
 the auditors are interested.
 
 10) In the opinion of the management, there are no indications,
 internal or external which could have the effect of impairment of the
 assets of the Company to any material extent as at the balance sheet
 date, which requires recognition in terms of Accounting Standard 28
 (AS-28) on Impairment of Assets.
 
 11) Additional information pursuant to the provision of Para 3 & 4, in
 part II of Schedule VI to the Companies Act, 1956 (as certified by the
 management)
 
 12) Previous years figures have been regrouped and reclassified
 wherever necessary to be in conformity with the figures of the current
 year.