1.  The company is a holding company with investments in subsidiary
 companies.
 
 2.  All the fixed assets are located in India and are as detailed in
 Schedule.11
 
 3.  Remuneration to Auditors - Audit Fees : - .
 
 4.  The stocks are valued at cost or market value whichever is less.
 
 5.  Contingent liabilities not provided for.
 
 6.  Figures have been re-grouped wherever necessary.
 
 7.  Confirmation of balances are not obtained for sundry creditors and
 advances made.