1.  Previous year''s figures have been re-grouped and rearranged
 wherever necessary.
 
 2.  In the opinion of the Board of Directors, the current assets, loans
 and advances are approximately of the value stated, if realized in the
 ordinary course of business except doubtful debts & advances. All known
 and ascertainable liabilities have been accounted for in full, in the
 books of accounts except those stated otherwise. All material accounts
 in respect of debtors, creditors, loans and advances etc. have been
 confirmed directly or indirectly. However, in some cases confirmations
 are pending but the amounts thereof are not material and consequent
 adjustments, if any required, will be carried out as and when such
 confirmations are received.
 
 3.  The Company has requested its suppliers for furnishing information
 about their SSI status.  Prima-facie, there is no outstanding dues to
 any SSI Unit. However, authentic information about such dues can be
 furnished only upon receipt of information from respective SSI Units,
 if any.
 
 4.  Capital Work in Progress
 
 The company has incurred expenditure for site development in respect of
 various plots acquired during the year 2010-11. Pending completion of
 work the amount is shown under Capital Work in progress. Final
 allocation of the same to the respective plots will be done on
 completion of work as capitalised and amount Rs.15,98,860/ still
 pending as WIP.
 
 5.  The company has provided Unsecured Loan to Gateway Commodities(P)
 Ltd. during the year and year end balance is Rs.8,07,57,806/- 7.  The
 management is rigorously pursuing the recovery against doubtful debts
 and advances and is hopeful of
 
 recovery. Provision is made to the extent considered necessary in
 accordance with the principal of prudence and conservatism.
 
 6.  Fixed Deposits of Rs. 82,18,227/- are pledged with bank for various
 facilities.
 
 7.  Advances Recoverable in cash or in kind under the head Current
 Assets includes Rs.51,15,594/- (P.Y. Rs. 87,47,890) being advance tax
 refundable under Income Tax Act,1961 in respect of various years with
 held by authorities in respect of disputed tax demands for which
 appeals are pending before various authorities. The company is
 confident of favourable disposal of the same and hence no provision is
 considered necessary in respect thereof.
 
 C.  ADDITIONAL INFORMATION PURSUANT TO THE PROVISIONS OF PARAGRAPH 3
 AND 4 OF PART-II OF SCHEDULE VI TO THE COMPANIES ACT 1956 (AS AMENDED)
 (TO THE EXTENT APPLICABLE)
 
 1 None of the Employees of the Company was in receipt of Salary
 exceeding Rs.200,000/- per month (Previous Year Rs. 2,00,000/-) for
 either part or full year.
 
 2 Quantitative information of Licensed and Installed capacity,
 production, purchases, Raw Material Consumed and sales and stock of
 each class of goods manufactured / traded:
 
 D.  Additional Disclosures as required under applicable Accounting
 Standards (to the extent applicable) 1 Contingent liabilities not
 provided for:
 
 Particulars                                     2010-11     2009-10
 
 Bank Guarantees Issued                     10,30,00,000    60,50,000
 
 Claims against the Company not 
 acknowledged as debts (including MACT
 claims aggregating to Rs.3,49,00,258/- 
 for which the Company holds
 adequate Insurance)                         4,01,51,518   4,01,51,518
 
 Disputed Direct and Indirect Taxes 
 for which appeals are
 pending at different forums                   51,15,594     87,47,890
 
 Sult filed by The New India Insurance 
 Co. Ltd. to recover
 amount under The Carriers Act               2,12,87,770   2,12,87,770
 
 LC discounted with bank (Sino Steel 
 Holding Pvt. Ltd.)                                -      12,51,93,576
 
 Advance on purchase of Land                   22,00,000     10,38,000
 
 Service tax on Rental Income                  26,34,837     22,04,241
 
 TOTAL CONTINGENT LIABILITY                 17,48,89,719  20,46,72,995
 
 Note : Provisions for claims are made based on deductions made for
 thefts and shortages by various clients.  The Final Amounts of
 deductions will be settled only after completion of counter claims and
 other legal proceedings. However, based on the information available
 with company and past empirical experience, necessary provision has
 been made as per the best judgement.