Fixed Deposits shown in the schedule of cash and bank balances includes
 surety given to sales tax department and margin money to banks against
 tenet of Credit, bank gurantee etc Rs4.880.556/- (Previous year Rs.
 435.432/-).
 
 Contingent liabilities
 
                                     31,03.2009        31,03.2008
 Particulars                         (Rupees)          (Rupees)
 
 Bank Guarantees                     82,500            82.500
 
 Letter of Credit                10.200.000
 
 Corporate Guarntees on behalf 
 of Subsidaries                  55,000,000        17,600,000
 
 Total                           65,282,500        17.682.500
 
 2. Applying the principles of Accounting Standard 22. issued by The
 Institute of Chartered Accountants of India, the deferred tax has been
 calculated and not deferred tax asset as on 31 03 2009 has emerged on
 account of losses and disallowances under the Income Tax Act 1961
 However in absence of reasonable and virtual certainity of future
 taxable profits the same has not been recognised in the accounts The
 defferd tax liability as on 31 03 2008 was Rs 8 606 933 which has been
 written back in the accounts
 
 3 Related Parties Disclosures : 
 
 (A) Name of the Related Party 
 
 (a) Key Management Personnel
 
 Name                              Nature of Relationship
 
 Mr. Kapil Kumar                   Managing Director
 
 Mr. Dinesh Gulati                 Wholetime Director*
 
 Mr.Rohit Sood                     Wholetime Director**
 
 Mr Pawan Sabharwa                 Wholetime Director
 
 * Resigned w.e.f 13.02 2009
 
 ** Resigned w e f 07 07 2000 and reappointed w e f 13 02.2009
 
 ***Resigned w.e.f. 06.09.2008
 
  Relatives of Key Management Personnel
 
 Mrs.Rohit  Kumar
 Mrs. Komal Gulati
 
 4 Impairment of Assets
 
 The Company has examined carrying cost of is identified Cash Generating
 Units (CGU) by comparing present value of estimated future cash flows
 from such CGUs. in terms of Accounting Standard -28 on Impairment of
 Assets, according to which no provision for impairment is required as
 there have been no indications of impairment of CGUs during the
 financial year ended 31st March. 2009
 
 5 The Sale is net off taxes, duties The amount of Excise duty on sates
 is Rs NIL Previous year Rs 1.469.735/-
 
 6 During the year an amoun of borrowing costs of Rs Nil [previous year
 Rs 8.862,602/-) has been capitalized with the fixed assets and Rs.Nil
 (previous year Rs 191.130/-) with capital work in progress in
 accordance with AS -16 on borrowing cost
 
 7 Balances under the heads Sundry Debtors, Sundry Creditors, Unsecured
 Loans. Loans and Advances are subject to confirmation by the respective
 parties
 
 8 The Company has no intimation from Suppliers regarding their
 status under the Micro Small and Medium Enterprises Development Act.
 2006 and hence the Disclosure if any, relating to amounts unpaid as at
 the year end together with interest paid/payable as required under the
 said Act has not been given
 
 9 The quoted investment in Moongipa Securities Ltd. has not been
 traded since long, hence Market Value of these shares are not available
 Therefore the required information of market value cannot be given
 Moreover the long term investments have been valued at cost since the
 company has no information towards the diminution in the value of the
 shares/net worth of the investee companies
 
 10 Security against Secured Loan 
 
 a) Working Capital
 
 Working capital facilities from consortium of State Bank of India and
 State Bank of Indore are secured by hypothecation of Stocks. Book Debts
 and current assets 01 the company The loan is collaterally secured by
 fixed assets of the company and also by Equitable Mortgage of property
 (at registered office) belonging to a partnership firm in which the
 Managing Directors interested as partner The loan is also personally
 guaranteed by The Managing Director and his family members are a firm
 in which the Managing Director is interested as partner.
 
 Whether capital facilities from Standard Chartered Bank is secured try
 hypothication of all present and future stocks. book debts of the
 company closed or to be slored at the borrowers godowon of promises or
 wherever else the same may be The facilities are also collaterally
 secured against the pari passu first charge by way of mortgage of the
 properties of the company at Delhi Mumbai and pantnagar The loan is
 also personally guaranteed by the Managing Director and his family
 members 
 
 b) Term Loans
 
 Term loans from banks are Secured by equitable mortgage of factory (and
 & building at 34-35-36 sector 3. SIDCUL Industrial Area, Pantnagar.
 Uttarakhard and equitable mortgage of Companys office at 604, Makani
 Centre, Bandra (W), Mumbai and also by charge on the entire Plant &
 Machinery & other fixed assets The loan is also personally guaranteed
 by the Managing Director and his family members and a firm in which the
 Managing Director is interested as partner. Also Secured by sub
 servient charge on all the movable assets of the company present and
 future.  pledge of equity shares of the company held by promoters of
 the company and also personally guaranteed by the Managing Director of
 the company Term loan from others have been taken for equipments &
 machineries and are secured against respective assets
 
 e) Vehicle Loan
 
 vehicle Loans are secured against hypothication of respective vehicle.
 
 11 GDR issue
 
 (a) During (be year the company has issued and allotted 3.910.000
 equity shares of Rs 10/- each against issue of 3.910.000 Global
 Depository Receipts (GDR) aggregating USD 12 million equivalent to Rs 5
 17.059,220/- in July 2008 The amount in excess of par value of equity
 share has Peer transferred 10 securities premium account