(1) Balances of Sundry Creditors, Sundry Debtors, Advances, Deposits,
 Secured and Unsecured Loans are as per the book and subject to
 confirmation and reconciliation from respective parties.
 
 (2) In the opinion of the Board of Directors Current Assets, Loans and
 Advances are approximately of the same value if realized in the
 ordinary course of business. The provisions for all known liabilities
 are adequate and not in excess of the amount reasonably necessary.
 
 (3) Contingent Liabilities
 
 (a) Estimated amount of contracts yet to be executed on capital account
 and not provided for Rs. 20.00 Lacs (Rs. 639.63 Lacs) and against this
 liability an advance of Rs. 17.48 Lacs (Rs. 168.71).
 
 (b) Gujarat Commercial Tax Department have raised a demand aggregating
 Rs. 32.75 Lacs (Rs. 29.11 Lacs) for the financial year 2002-2003 and
 2006-2007 which has been disputed by the Company, as it is of the
 opinion that the same shall be quashed in the appeal preferred by the
 company.  Hence no provision for this disputed Sales Tax demand has
 been made.
 
 (c) Central Excise Authorities have raised demand aggregating Rs. 33.53
 Lacs (Rs. 33.53 Lacs) for the financial year 1998-1999 and 1999-2000
 which has been disputed by the Company, as it is of the opinion that
 the same shall be quashed in the appeal preferred by the company.
 However company has paid under protest Rs. 36.24 Lacs (Rs. Nil) and
 shown as an asset under the head of Short Term Loans and
 Advances.
 
 (4) There are no amounts due to-be credited to Investor Education and
 Protection, Fund 
 
 The above loan amount brought in by the promoters by way of Unsecured
 Loans in pursuance of stipulations of the Bank for the finance and it
 is exempted under Section 58A of the Companies Act, 1956.
 
 (5) The disclosures as required as per the Accounting Standard - 15
 are as under:
 
 (a) Brief Description of Plans
 
 The Company has various schemes for Long-term benefits such as
 Provident Fund, Pension Fund, Gratuity and Leave Encashment. In case of
 funded schemes, the funds are recognized by the Tax authorities and
 administered through separate trust. The company''s defined
 contribution plans are Provident Fund and Pension Scheme since the
 company has no further obligation beyond making the contributions. The
 company''s defined benefit plans include Gratuity and Leave
 Encashment.
 
 (6) Earning in Foreign Exchange at F.O.B. Value: Rs. Nil (Rs. Nil).
 
 (7) Expenses in Foreign Currency at CIF Value: Rs. Nil (Rs. Nil).
 
 (8) Value of Imports on CIF basis accounted for during the year: Rs.
 Nil (Rs. Nil).