1.  Contingent Liabilities:
 
 Contingent Liabilities not provided for are as under: (Amt. in Rs. )
 
 Particulars                                   2010-11         2009-10
 
 1. Bank Guarantee issued to Custom 
 department for import purpose             5,20,11,924     3,11,61,769
 
 2.  Secured Loans:
 
 a) Term loans and working capital loans from State Bank of India are
 secured by
 
 (i) Exclusive charge on the entire block of fixed & movable assets
 (present and future) including 1.25 MW Wind mill at village Panchetiya,
 under district Kutch and hypothecation of the current assets and
 receivables of the company''s existing hotel at Ahmedabad and proposed
 Surat project.
 
 (ii) Corporate Guarantee of Lov Kush Properties Pvt. Ltd.(100%
 Subsidiary of the company)
 
 (iii) All Term loans and working capital loans are secured by personal
 guarantee of all executive directors.
 
 b) Cash Credit Loan from I.O.B. is secured against guarantee of a
 sister conern TGB Food Pvt. Ltd.
 
 c) Vehicle loans are secured by the hypothecation of the vehicles
 concern.
 
 2.  Segment Reporting
 
 Since the company has only one segment, there is no separate reportable
 segment as required in AS-17 issued by the Institute of Chartered
 Accountants of India.
 
 3.  Related Party Disclosures:
 
 (a) Related Parties and their Relationship:
 
 Sr. No.  Name of Related Party Relationship
 
 1 New Ramesh Kirana Stores Associate Party
 
 2 TGB Foods P. Ltd Associate Party
 
 3 Devanand G. Somani HUF Associate Party
 
 4 Narendra G. Somani Key Management Personnel
 
 5 Devanand G. Somani Key Management Personnel
 
 6 Hemant G. Somani Key Management Personnel
 
 7 Ramesh K. Motiani Key Management Personnel
 
 8 Harshita D. Somani Relative of Key Mgt.Personnel
 
 9 Sunita N. Somani Relative of Key Mgt.Personnel 
 
 10 Neeta Somani Relative of Key Mgt.Personnel
 
 4.  Since the business of the company is by way of Food and Beverages,
 the quantity wise details of purchase, consumption, turnover, stock
 etc. are not furnished as the items are so large in number that it is
 not practicable to present.
 
 5.  The company had not received any intimation from suppliers
 regarding their status under the Micro, Small & Medium Enterprise Act,
 2006, and hence disclosures, if any, relating to amounts unpaid as at
 the year end together with interest paid or payable as required under
 said Act, have not been given.
 
 6.  In the opinion of the Board, the Current Assets, Loans and
 Advances are approximately of the value stated, if realized, in the
 ordinary course of business. Provision for all known liabilities is
 adequate and not in excess of the amount reasonably necessary.
 
 7.  Figures of previous year have been regrouped, rearranged and
 recast wherever necessary so as to make them comparable with those of
 current year.
 
 8.  The schedules and notes form an integral part of the accounts.