1. The figures of the previous year has been re-grouped and re-arranged
 wherever found necessary.
 
 2. The company has followed prudential norms issued by the Reserve Bank
 of India for Non Banking Financial Companies. 20% of profit after tax
 has been transferred to Reserve Fund as per section 45(1C) of the RBI
 Act, 1934.
 
 3 .The balances of Debtors and Creditors are subject to confirmations
 by the respective parties
 
 4. There is no outstanding amount payable to Small Scale Industries as
 on the balance sheet date.
 
 5. The deferred payment liabilities shown under secured loan in Balance
 Sheet includes installment of loan taken for purchase of truck /
 tankers which is due within twelve months amounting Rs. 2,72,32,022/-
 (P.Y. 1,99,23,086/-).
 
 6. The Company has not received any intimation from suppliers
 regarding their status under the Micro, Small and Medium Enterprises
 Development Act, 2006 and hence disclosures, if any, relating to
 amounts unpaid as at the year end together with interest paid/payable
 as required under the said Act have not been given.
 
 7. No foreign Exchange earnings or outgoes occur during the year.
 
 8.2 Related Party disclosure 
 
 Information given in accordance with Accounting Standard 18 
 
 (i) Related Party Relationship 
 
 a) Key Management Personnel 
 
 1. Shri Shanti Lal Jain                  2. Shri Sanjay Jain 
 
 3. Shri Rikhab Chand Jain                4. Shri Neeraj Jain 
 
 5. Shri Shankar Lal Khandelwal           6. Shri Bhag Chand Jain 
 
 b) Relatives of Key Management Personnel 
 
 1. Smt Gunmala Devi Jain 
 
 2. Shri Virendra Jain 
 
 c) Enterprises over which key management personnel exercises
 significant influence exists:-
 
 1. Gulshan Carrying Corporation       2. Inter State Oil Carrier 
 
 9 Information pursuant to part IV of Schedule VI to the Companies Act,
 1956 has been given in Annexure I.
 
 10. Contingent Liability: 
 
 
 
 B.G TAKEN FROM    SEC. DEPOSIT   AMOUNT     BG IN FAVOUR      AMOUNT
                                                OF             OF B.G
 
 
 Indusind Bank     Limit(as per     -        Balmer Lawrie 
                   note No.14)               &               237000.00
                                             Co. Ltd
 
 Indusind Bank     Limit(as per     -        Sales Tax       300000.00
                   note No.14)
 
 Indusind Bank     Limit(as per  100000.00   Haldia          500000.00 
                   note(No.14)               Petrochemicals 
                                             Ltd
 
 Indusind Bank     Fixed Deposit 240000.00   The Joint      1125583.00
                                             Commissioner
                                             of Sales Tax
                                            (Central) 
 
 11. The Company has taken cash credit facility (Limit Rs.160 Lacs) and
 Bank Guarantee limit of Rs. 40 Lacs with Induslnd Bank and created
 first charge on all current assets of the company comprising of stock
 of raw material, WIP, Finished Goods, receivables, book debts and other
 current assets and equitable mortgage value of office premises, and
 also the personal guarantee of Mr Shanti Lal Jain and Mr Sanjay Jain.
 directors of the company.
 
 12. The Company has received a demand of Rs. 1,94,599/- (such amount
 already paid by the Company) from Income Tax department for the
 Assessment year 05-06 and the Company has filed an appeal against that
 the said demand which is still pending.