Current 
                                                    Year      Previous 
                                                              Year
                                                   (Rs.in 
                                                    lacs)    (Rs.in 
                                                              lacs)
 
 1.  Contingent Liabilities not provided for 
 in respect of:
 
 A) Claims against the company not acknowledged 
 as debts:                                            1.60       1.60
 
 B). Contingent liabilities not provided for :
 
 a) Income Tax demand raised by Income tax 
 Authorities.                                          Nil        Nil
 
 b) Excise & Coustom duty demands raised by 
 Excise Authorities.                                 58.11      58.11 
 
 Matter pending in appeal with Appellate 
 Authorities
 
 2.  Estimated amount of contracts remaining 
 to be executed on capital                             Nil     180.00 
 account and not provided for.,
 
 3.  Prior period income (expense) amounting to Rs.0.80 Lac
 
 {previous period Rs. 4.63 Lac} have been debited / Credited to
 respective heads of Accounts.
 
 2.  EMPLOYEES BENEFI TS PLANS :
 
 1) The Company makes contribution towards employees’ Provident Fund,
 Pension Fund, Under the rules of these schemes, the Company is required
 to contribute a specified percentage of payroll costs. During the year
 the Company has recognized Rs. .50 Lac as expenses towards contribution
 to these plans.  2) In view of the non viability in the existing set of
 operational and manufacturing setup,all the fixed assets have been
 disposed off setteling almost all liabilities and labourdues, However,
 accounts continued to be prepared on the basis of going concern, as the
 management is exploring other business opportunities to be carried in
 the company. All the necessary provisions , losses and liabilities to
 the extent identified and assessed by the management have been provided
 for. Further management is of the view that the value in realization of
 current assets, loans & advances and current liabilities would not
 significantly differ from the position as stated in the books as on
 year end.
 
 3.  Debtors, Creditors and advances are subject to confirmations,
 Reconciliations and adjustments, if any. The Management does not expect
 any significant variation and in the process of taking the necessary
 steps in this regard in the current year.
 
 4 Related party disclosure in accordance with the Accounting Standard
 18 issued by the Institute of Chartered Accountants of India is given
 below :
 
 5.  Based on the information available with the Company, no balance is
 due to Micro & Small Enterprises as defined under the Micro, Small and
 Medium Enterprises Development Act, 2006. Further during the year no
 interest has been paid or payable under the terms of the said Act.
 
 6.  a) In View of absence of Profit in accordance with Section 349 of
 the Companies Act 1956, no commission is payable to the Managing
 Director for the current year.
 
 7.  Segment reporting
 
 As the company''s business activity falls within a single primary
 business segment - textile yarn, the disclousre requirements of
 Accounting Standard - 17 Segment reporting issued by the Institute of
 Chartered Accountants of India, are not applicable.
 
 8.  Figures for the previous Year have been restated / regrouped /
 rearranged wherever considered necessary.
 
 9.  Till the year ended the 31st March 2011, the Company was using
 pre-revised Schedule VI to the Companies Act 1956, for preparation and
 presentation of its financial statements. During the year ended the
 31st March 2012, the revised Schedule VI notified under the Companies
 Act 1956, has become applicable to the Company. The Company has
 reclassified previous year figures to conform to this year''s
 classification.