1.1 Terms/Rights attached to equity shares:
 
 The company has only one class of equity share having a par value of
 Rs. 10 per share. Each holder of equity shares is entitled to one vote
 per share. The company declares and pays dividends in Indian Rupees.
 The dividend proposed by the Board of Directors is subject to the
 approval of the shareholders in the ensuing Annual General Meeting.
 
 During the year ended 31st March 2012, the amount of per share dividend
 recognized as distributions to equity shareholders was Rs. 1.6 (31st
 March 2011 Rs.1 .5)
 
 In the event of liquidation of the company, the holders of equity
 shares will be entitled to receive remaining assets of the company,
 after distribution of all preferential amounts. The distribution will
 be proportion to the number of equity shares held by the shareholders.
 
 As per records of the company, including its regiater of
 shareholders/members and other declarations received from shareholders
 regarding beneficial interest, the above shareholding represents both
 legal and beneficial ownerships of shares.
 
 2.1 The Term Loans of Rs. 3923.80 lacs are secured by first pari pasu
 charge on land and building situated at dadra and nani tambadi, all the
 tangible movable machinery and plant together with spares tools and
 accessories and other movables, both present and future at dadra and
 personal guantees of three Directors. Term loan of Rs. 16.22 lacs are
 secured by hypothecation of vehicles.
 
 2.2 Current maturities on longterm borrowings are included under note
 no 7 in Other Current Liabilities
 
 3.1 Working capital loans are secured by hypothecation of present and
 future stock of raw materials ,stock in process, finished goods, stores
 and spares, packing materials, book debts & personal gurantees of three
 directors.
 
 4.1 As the market value of quoted investment fluctuates regularly the
 diminution in the value of investments has not been considered of the
 permanent nature and hence no provision of the same amounting to
 Rs.8,255/-(Previous Year - 8,243/-) has been made in the accounts.
 
 5. Contingent Liabilities
 
                                           2011-12         2010-11
 
 Counter Gurantees given to Banks Rs.   14,407,000      23,704,600
 
 Letter of Credit/Bill 
 Discounting with Banks           Rs.  298,311,229     368,033,038
 
 DEPB Entitlement Refund Claim
 by DGFT                          Rs.    8,118,321       8,118,321
 
 6. The Company is engaged in manufacturing and sale of Textile
 Products, which is the only reportable segment.
 
 7. During the year the Company has taken Mat Credit Entitlement of Rs.
 Nil (Previous year Rs. 213.58 Lacs) in relation to the prior years and
 the same is shown under the head ''Loans and Advances'' in the balance
 sheet as there being a convincing evidence of realisation of such
 asset.
 
 8.  Financial and Derivative Instruments
 
 a.  Forward Contracts in Foreign currency for export realisation
 outstanding as at 31st March,2012- Rs. l092.38 Lacs
 
 b.  Foreign currency exposures that are not hedged by deivative
 instruments as at 31 st march 2012 amount to Rs 812.672 lacs
 
 9.  Balance in respect of Unsecured loans. Sundry Creditors, Sundry
 Debtors and Loans & Advances are subject to confirmation by respective
 parties.
 
 10.  Comparative figures for previous year have been regrouped /
 rearranged wherever necessary.