1.  Holding Company Ess Dee Aluminium Limited.
 
 The Company became a 89.40 percent subsidiary of Ess Dee Aluminium
 Limited with effect from November 19, 2008.
 
 2.  Rehabilitation Scheme
 
 2.1 During the year along a rehabilitation scheme was filed with the
 Honorable Board for Industrial & Financial Reconstruction pursuant to
 the arrangement between Madras Aluminium Co. Ltd. and Ess Dee Aluminium
 Ltd.(EDAL) This scheme was sanctioned by the Honble BIFR vide its
 order dated September 2, 2008. The first closing as per the arrangement
 was achieved on November 19, 2008. Pursuant to this order and the first
 closing, the Company has issued the following.
 
 Equity Shares :
 
 13,60,00,000 Equity Shares of Re 1 each at par.  Preference Shares:
 
 a) 12,50,000,0.01% Optionally Convertible Redeemeable Non Cumulative
 Preference Shares of Rs 100 each redeemable at par on 20th November
 2028
 
 b) 96,28,115, 0.01 % Non Convertible Redeemable Non Cumulative
 Preference Shares of Rs 100 each redeemable at par on 20th November
 2028
 
 c) 1,39,53,423, 0.01% Non Convertible Redeemable Non Cumulative
 Preference Shares of Rs 100 each redeemable at par on 20th November
 2028
 
 2.3 Subsequent to the Company becoming a subsidiary of EDAL, it was
 estimated that significant investments would be needed for its
 rehabilitation. This was also necessitated by the recent economic
 meltdown. Accordingly, the Monitoring Agency, Kotak Bank Ltd.,
 appointed by the BIFR has filed on 30/06/2009 is in the process of
 filing a modified rehabilitation scheme with the Honble BIFR for
 merger of the Company into EDAL with effect from April 1, 2008.
 
 3.  Contingent Liabilities :
 
 3.1 Demand from Kolkata Port Trust in respect of increased lease rental
 amounting to Rs 155.05 lacs (PY Rs. 155.05 Lacs) against the Company
 not acknowledged as debt. The matter is subjudice and is pending before
 the Appellate Authority for
 
 Industrial and Financial Reconstruction as well as the Estate Officer
 appointed under the Public Premises (Eviction of Unauthorized
 Occupants) Act, 1971.  3.2 During the financial year the company has
 issued a bank guarantee to the customs authorities Kolkata Airport for
 a value of Rs 23.29 Lacs which is fully secured by a fixed deposit
 under lien to the bank.
 
 4.  Revaluation of Fixed Assets
 
 4.1 Based on valuation report submitted by a professional valuer
 appointed for the purpose, Freehold Land and Freehold Buildings at
 Kamarhati factory and major items of Plant and Machinery of the Company
 were revalued as at 31st March, 1994 on the then current cost basis and
 adjusted for depreciation element wherever applicable. The .resultant
 increase in net book value on such revaluation amounting to Rs. 1949.58
 lacs was added to cost and transferred to Revaluation Reserve as at
 31st March, 1994.
 
 4.2 Based on valuation report submitted by the Companys professional
 valuer appointed for the purpose, Freehold Land and Buildings and Plant
 and Machinery of the Companys Sheet Division (erstwhile LMI), acquired
 pursuant to the Scheme of Amalgamation with effect from 1st April 1997,
 were revalued as at 31st March, 1994, on the then current cost basis
 and adjusted for depreciation element as applicable. The resultant
 increase in net book value on sUch revaluation amounting to Rs.4441.52
 lacs was added to cost and shown under Revaluation Reserve as at 31 st
 March, 1994 and after adjustment over the years, the balance Rs.3917.16
 lacs as at 1st April, 1997 had been added to the Revaluation Reserve in
 the relevant year.
 
 4.3 The Revaluation Reserve has been adjusted during the year by Rs.
 1394.20 lacs being the impact of impairment on certain fixed assets.
 The Revaluation Reserve now carried forward represents revaluation of
 the Land and Factory Buildings at Kamarhati and Hoera factories.
 
 5.  Impairment
 
 5.1 The operations at Taratala and Hoera units of the Company are under
 suspension since April 2002 and September 2003 respectively. The work
 suspension at Hoera unit was lifted on 27th April 2009. The Company has
 now done an assessment of the value in use of these assets as well as
 all other fixed assets. Based on this assessment the following fixed
 assets have been considered as fully impaired as on 31st March 2009:-
 
 
 6.  The Company has obtained a legal opinion in respect of payment of
 salaries and wages and related retiral. benefits like provident fund,
 contribution to employees state insurance scheme, leave liability,
 gratuity etc. to the employees of its Hoera unit, the operation of
 which is under suspension with effect from 15th September, 2003.
 Accordingly, the Coppany is not liable and does not require to make any
 provisions with respect to salaries and wages and other retiral
 benefits for the suspension period. The Company (other than gratuity
 and leave liability, which were actuarially ascertained and provided
 for based on the information available till date of suspension) has
 neither ascertained nor provided for salaries and wages, liability
 towards provident fund, contribution to employee state
 insurance.scheme, etc. for the employees of the said unit since the
 suspension of operation (including that for the current year).
 
 7.  Suppliers/service providers covered under Micro, Small and Medium
 Enterprises (MSME) Development Act, 2006 have been determined to the
 extent such parties have been identified on the basis of information
 available with the company. The Disclosure relating to Micro and Small
 Enterprfses as at 31st March, 2009 are as under.
 
 8.  In the opinion of the Board, the Current Assets, Loans and
 Advances have a value on realization in the ordinary course of business
 at least equal to the amount at which they are stated.
 
 9.  The unamortized balance of the Voluntary Retirement Scheme of
 Rs.94.19 lacs has been charged to the Profit & Loss Account of the
 current year in view of the management estimate that there is no
 enduring benefit available therefrom
 
 10.  The Companys entire activity is of advanced packaging solutions.
 As such there is only one segment viz advanced packaging solutions,
 accordingly, no disclosure is required to me made under AS-17, segment
 reporting.
 
 11.  Related Party Disclosures (Accounting Standard 18)
 
 11.1 List of Related Parties and Relationship - (Post November 19,
 2008)
 
 A.  Holding Company - Ess Dee Aluminium Limited (w.e.f 19/11/08)
 
 B.  Fellow Subsidiary Company - Flex Art Foil Pvt Ltd (w.e.f 19/11/08)
 
 C.  Key Management Personnel - Mr. Sudip Dutta - Chairman
 
 - Mr. Soumitra Barari (Both w.e.f from 19/11/08)
 
 11.2 List of Related Parties and relationship (Pre November 19, 2008)
 
 A.  Holding Company - MALCO
 
 12.  Leases (AS 19)
 
 Operating Lease .  .
 
 The company has no lease facilities under non cancelable operating
 leases except in respect of land situated at Taratala leased by Kolkata
 Port Trust (Refer Note Nos. 3.1 ).
 
 13. Having regard to the losses incurred, the Company does not have any
 current tax at present and has unabsorbed depreciation and carried
 forward business losses available for set off under the Income Tax Act,
 1961 .In view of inability to assess future taxable income, the extent
 of net deferred tax assets which may be adjusted in the subsequent
 years is not ascertainable with virtual certainty at this stage and
 accordingly, in keeping with Accounting Standard-22 on Accounting for
 Taxes on Income, the same has not been recognized in these accounts on
 prudent basis.
 
 #.As per management estimation based on available documentation, hither
 to considered as contingent liability.
 
 Out flow in respect of above provisions, both timing and certainty
 would depend on developments / outcome of these events.  Additional
 information pursuant to paragraphs 3, 4C and 4D of part II of Schedule
 VI to the Companies Act, 1956.
 
 14 Information regarding capacity, stocks, production and sale (as
 certified by Management)
 
 i) Licensed Capacity: Not applicable
 
 ii) Installed Capacity: 19,000 Mts p.a
 
 (As certified by the management and being a technical matter accepted
 by the auditors)
 
 Notes: 1.  *Quantity in various units of measurements
 
 2.  None of the items included in the groups individually account for
 10% or more of the total value of materials consumed.  In the absence
 of verifiable records the Auditors have relied upon the managements
 representation in this behalf.
 
 15.  Balances of debtors, creditors and other parties to whom loans are
 given are pending confirmation.
 
 16.  Previous years figures have been regrouped / reclassified
 wherever necessary.