1. Loans and Advances include :
i. Rs. 70,00,000/- interest free office deposit paid concern in which Directors are interested.
ii. Rs.5,93,400/ Land rent deposit paid to Directors and their relatives.
iii. Rs.50,70,000 interest free loan paid to a concern in which Directors are interested.
2. Calls in arrears, Rs.1,12,500/- is subject to adjustment, if any required, on reconciliation of public
issue money account which is in progress.
3. There being no employee entitled to gratuity, no liability has been ascertained and provided for in books
of accounts for the same.
4. Pending execution and erection of the project, direct expenses have been allocated to respective assets,
work in progress and indirect expenses transferred to capital expenditure pending capitalisation to the
extent of 80% thereof.
5. Land Rent of Rs.1,18,680/- service charges Rs.48,000/- and rest house charges Rs.1,02,000/- paid to
concern in which Directors are interested, for service rendered and/ or facilities provided by them.
6. In the opinion of the Board current asset loans and advances have a value on realisation in the ordinary
course of business, at least equal to the amount of which they are stated.
7. Balance of Debtors, Creditors, Loans and Advances are subject to confirmation.