Bihar Tubes

1.  Contingent Liability not provided for in respect of 
 
                                                      (Amount in Lakh)
                                          31-3-2007          31-3-2006
 
 Counter guarantee to Union Bank of 
 India for performance guarantee
 given to various departments                45.52             45.29
 
 2.  None of the employees was in receipt of remuneration in excess or
 Rs. 24,00,000.00 p.a. or Rs. 2,00,000.00 p.m. if employed for part of
 the year as prescribed under section 217 (2) (A) of the Companies Act,
 1956.
 
 3.  The Working Capital Facilities with Union Bank of India are
 personally guaranteed by Two Directors of the Company.
 
 4.  The Company has only one segment i.e. manufacturing of Steel tubes
 and pipes, therefore segment reporting as required under Accounting
 Standard -17 is not applicable.
 
 5. The figures of previous year have been regrouped/rearranged wherever
 considered necessary.
 
 6. The outstanding balance of Debtors/Creditors in the books of the
 company are subject to confirmation.
 
 7.  Duty credit on Export Sales has been taken on accrued basis whether
 license has been issued after closing of the financial year.
 
 8.  On the basis of information available with,the company, :it does
 not owed any outstanding dues towards Small Scale Industrial Under
 taking as per amended Schedule VI of the Companies Act, 1956 vide
 Notification No. GSR 129 (E) dated 22.02.99, in case the sum owned is
 Rs. 1.00 Lac or more which is outstanding for more than 30 days.
 
 9. The provision for Gratuity Liability has not been made which is
 against the As-15 issued by ICAI.
 
 10. Secured Loans from JCICI bank Ltd. and Union Bank Of India are
 guaranteed by Two Directors - Mr. Sanjay Gupta & Mrs. Saroj Rani Gupta
 and their relatives - Mr. Vinay Gupta, Mr. Sameer Gupta, Mrs. Neera
 Gupta, Mrs. Vandana Gupta and Mrs. Meenakshi Gupta.