1.  In the opinion of the Board of Directors, the current assets, loans
 and advances have a value on realization in the ordinary course of
 business at least equal to the amount stated in the balance sheet
 unless otherwise stated.
 
 2.  Sundry Debtors, Sundry Creditors, Bank accounts, Loans & Advances,
 are subject to adjustments due to verification and reconciliation of
 amounts as per books.
 
 3.  No provision has been made in respect of the following: -
 
 (i) Income Tax Demand aggregating to Rs. 5,32,21,791/- against which
 the company has referred `the matter to the Settlement Commission. The
 Settlement commission has admitted the `company''s application under
 section 245D(1) of the Income Tax Act, 1961,
 
 (ii) Income matters of earlier years in appeals, rectification, towards
 which the liability is not ascertained, will be accounted for in the
 year in which the matters are settled.
 
 (iii) Gratuity amounting to Rs. 122333/- upto March 2012, since the
 same will be accounted for at the time of settlement of the employees
 accounts.
 
 4.  Previous year''s figures have been regrouped rearranged wherever
 necessary.
 
 5.  The Company does not have any business other than its main business
 of Merchant Banking hence segment information is not applicable.
 
 6.  The information with respect to Note No.6A
 (d)(e)(f)(h)(i)(j)(k)(l), 6B (b)(c)(d)(e)(f)(g), 6C, 6D, 6E, 6 F, 6G(a)
 to 6G(i), 6J, 6L (iii)(iv), 6M, 6N, 6O, 6 P, 6Q (ii)(iii)(iv), 6R
 (iii)(iv), 6U, 6V, 6W of Part I (Form of Balance Sheet) of Schedule VI
 are not given in this statement to the extent it is inapplicable to the
 Company.
 
 7.  The information with respect to Note No. 1, 2(A), 3, 4(a)(b)(c), 5
 of Part II (Form of Statement of profit & loss) of Schedule VI are not
 given in this statement to the extent it is inapplicable to the
 Company.
 
 NOTE 8.1
 
 Contingent liabilities and              As at 31 March  As at 31 March
                                              2012           2011
 commitments (to the extent not 
 provided for)                             In Rupees      In Rupees
 
 Contingent Liabilities
 
 (a)  Claims against the company         Please Refer     Please Refer
 not acknowledged as debt                NOTE 1 (B) 3     NOTE 1 (B) 3
 
 (b)  Guarantees                              -                -
 
 (c)  Other money for which the          Please Refer     Please Refer 
 company is contingently liable          NOTE 1 (B) 3     NOTE 1 (B) 3