1.  Contingent Liabilities not provided for Rs. nil. (Previous year Rs.
 NIL ).
 
 2.  The unsecured loans accepted including loans from the director or
 companies in which director are interested are interest free as per
 term of the agreement and therefore no interest has been provided for
 against these loans.
 
 3.  Unsecured Loans also includes advances received from customers as
 per agreement with these customers.
 
 4.  Balance of unsecured loans, sundry debtors, sundry creditors,
 advances are subject to confirmation from respective parties.
 
 5.  According to management current assets, loans and advances are
 recoverable at par in normal course of business at price stated in the
 Balance Sheet.
 
 6 Advances received from parties and advances given to supplier have
 not been shown separately, but they have been netted with debit and
 credit balances of Sundry debtors and Sundry Creditors
 
 7 Interest on term loan from IFCI & Bridge loan from PSIDC has been
 provided on the amount of liabilities towards these institutions as per
 BIFR order dt.13.3.2003 @ 12.5% as ordered by BIFR.
 
 8.  As per BIFR order company has got refund of Interest on working
 capital limits from banks amounting to Rs 1.27 Lacs pertains prior to
 01.04.2003
 
 9.  Interest accrued to IFCI amounting to Rs. 150456989/- represent the
 interest amount to be waived as per BIFR order dt. 13.3.2003, reversal
 of which to the credit of profits loss account will be given after
 completion of OTS payment to IFCI.
 
 10 Out of Interest accrued to PSIDC, a sum of Rs 11620936/- represent
 the interest amount to be waived as per BIFR order dt. 13.3.03 reversal
 of which to tbe credit of profit & loss account will be given after
 completion of payment to PSIDC .
 
 11 The paid up Equity Share Capital of the company has to be reduced by
 25% by reducing the face value of Share from Rs.10.00to Rs. 7.50 per
 share as per BIFR order dated 13.3.2003, the effect of which has not
 been given in the balance sheet.
 
 12 No provision for taxation has been made due to brought forward
 unabsorbed losses of the company.
 
 13 FIXED ASSETS
 
 Fixed assets installed and put to use have been certified by the
 management & relied on by the auditors being a technical matter.
 
 Notes :
 
 a) The installed capacity and the date of installation of machineries
 is as per certificate given by the companys technical expert and
 relied on by the auditors, being technical matter.
 
 b) Capacities are expressed on the basis of triple shift working of the
 factory for 330 working days.
 
 c) The Vanaspati Industry has been delicensed by the New Industrial
 Policy, 1991. Therefore, there is no licensed capacity applicable to
 the company.
 
 14.  There were foreign exchange payment during the year.
 
 15.  Previous year figure have been regrouped/restated wherever
 considered necessary to conform with currency year figures.