1.01 EXCEPTIONAL ITEMS
 
 Exceptional item amounting to Rs. 1830205 (Rs.8444506) represents sale
 proceed of equity shares held as security against Inter-Corporate
 Deposit given by company. The sale proceed is adjusted during the year
 against the penal interest recoverable by the company from the
 borrower, as in the opinion of the managment the same is not payable.
 
 1.02 ACCOUNTING STANDARD DISCLOSURES
 
 i The company has acquired the lease right of land of 118 Bigha and 10
 Biswa from the directors/ relative of directors for the 10 years as per
 terms and condition of the agreement. The total amount paid for the
 said lease of 10 year is Rs. 1,16,50000/- which is amortized equally
 over the period of lease. The aforesaid lease agreement is cancelable
 lease agreement and therefore no disclosure is required to be made in
 accordance with AS-19 Leases issued by ICAI.
 
 ii Employees Benefits are recognized as on expense in the profit and
 loss account in which the related service in rendered. In I respect of
 payment of gratuity, the same is neither applicable as per statute nor
 payable under any formal plan or agreement between company and its
 employees
 
 iii SEGMENT DISCLOSUR
 
 In pursuant to Accounting Standard 17 regarding Segment Reporting, the
 Segment wise disclosure are as under:
 
 1.03 The company has entered into an agreement for cultivation of crops
 at its land . The party has borne labour and tractor running and
 maintenance expenses for a consideration of 25% of total produced crops
 at the said land of the company. The company has taken into account the
 production of only 75% of total produced crop at the said land being
 its share and sales thereof have been accounted for in the books of
 accounts
 
 1.04 The company''s equity shares are delisted due to non-payment of
 stock exchange fees and non-compliance of listing requirements and
 other regulatory compliances. However, the company during the year has
 initiated the process of getting its shares re-listed in BSE and has
 submitted required documents and information as required by stock
 exchange. The company has submitted its previous years quarterly and
 annual results with stock exchanges as per the requirement of stock
 exchange.
 
 In order to comply with clause 49 of the listing agreement, the
 company has inducted 3 independent directors to its Board of Directors
 and shall be complying with the requirement of clause 49 of listing
 agreement and other clauses from the financial year 2012-2013
 
 1.05 In the opinion of the Board, all the assets other than fixed
 assets and non current-investments have a value on realization in the
 ordinary course of business at least equal to the amount at which they
 are stated and provision for all liabilities have been made.
 
 1.06 Figures forthe previous year have been regrouped and rearranged
 whereever considered necessary.