1. CONTINGENT LIABILITIES
 
 (a) Any tax, duty or levy demanded by the Govt. authorities in excess
 of provision made.
 
 (b) Rs.25.00 lacs (Previous Year Rs.50.00 lacs) on account of bank
 guarantees for which FDRs of Rs.13,91,070/- (Previous Year
 Rs.12,65,990/-) have been pledged as margin.
 
 (c) Fixed deposit of Rs.20,43,408 have been pledged with National Stock
 Exchange of India as per arbitration awards against which the company
 has filed an appeal in the appropriate Courts.
 
 (d) The Sacurities And Exchange Board Of India (SEBI) had levied a
 turnover fee for the first five years of the turnover of brokers. The
 company has paid a sum of Rs.12,94,901/- on the basis of revised
 definition of the turnover. However, the Securities And Exchange Board
 Of India (SEBl) may demand Interest payment for the late payment of
 this amount
 
 (e) Capital contracts not yet executed for Rs. NIL
 
 2 AUDITORS REMUNERATION                CURRENT YEAR      FREVIOUS YEAR
 
 AUDIT FEE                                  13.125.00          13,125.00
 
 TAX AUDIT FEE                               2,625.00           2,625.00
 
 CERTIFICATION CHARGES                       2,025.00           2,625.00
 
                                            18,375.00          18,375.00
 
 3 During the previous year Shri Arun Kumar Jain, ax Director of the
 company committed an act of criminal breach of trust and
 misappropriated the funds of the company against whom legal proceedings
 as advised by the experts were initiated and the matter is in the
 courts. All the debit and credit balances standing against his
 personal account, his HUF account, accounts of companies in which he is
 Director, accounts of his family members and the accounts of the
 Clients who were dealing with the company but stopped dealings after
 his suspension amounting to Rs.44,51,692.56 (Net) is included in Sundry
 Debtors until the occasion by the court of law.
 
 4 Unquoted shares of a company which has gone in BIFR has been valued
 at 50 % of the cost.
 
 5 In the opinion of the Directors, Current Assets, loans and advances
 have the value at which they are stated in the Balance Sheet if
 realised, in the ordinary course of business except amount recoverable
 for which court case is pending (Refer Note No.3).
 
 6 Previous years figures have been regrouped/rearranged to make them
 comparable with those of current year.