1.  The Company has only one class of Equity share having a par value
 of Re 1/- each per share. Each holder of equity share is entitled to
 one vote per share.
 
 2.  The Company has its increased Authorized Capital from Rs.
 21,00,00,000 divided into 21,00,00,000 Equity shares of Rs. 1 each to
 Rs. 70,00,00,000 divided into 70,00,00,000 Equity shares of Rs. 1 each
 by creation of 49,00,00,000 additional equity shares of Rs. 1 each in
 accordance with the provision of Section 94, and other applicable
 provisions if any, of The Companies Act, 1956
 
 3.  In the event of liquidation of the Company, holders of equity
 shares will be entitled to receive any of the remaining assets of the
 Company after discharging the liabilities of the Company.
 
 4.  In terms ofthe resolution passed under section 81(1A) ofthe
 companies act 1956 at the Extra Ordinary General Meeting ofthe company
 held on 07.09.2010 and in-principle approval received from stock
 exchange, The Board has allotted 400000000 convertible share warrants
 into equal number of equity shares at a price Rs 2.55/- each at a
 premium of Rs 1.55/- per warrant, in the board meeting held on
 07.09.2010 on preferential basis to promotors and non-promotors
 category. Pursuant to allotment of convertible share warrants, the
 company during the financial year 2010-2011 and 2011-2012, has received
 monies aggregating to Rs 51.06 crores out of Rs. 102.00 crores.
 
 5.  Balance of Sundry Debtors, Sundry Creditors and Loans & Advances
 as shown in the accounts are subject to confirmation .and
 reconciliation However, in the opinion of the Board of Directors, the
 current assets, loans & advances are fully realizable at the values
 stated, if realizable in the ordinary course of business.  The
 provisions for depreciation and all other known liabilities are
 adequate in the opinion of the Board.
 
 6.  No provision for the payment of gratuity has been made as none of
 the employees has put the qualifying period of service for entitlement
 of gratuity.
 
 7.  Preferential Allotment
 
 (a) In terms of the resolution passed under section 81 (1A) of the
 Companies Act, 1956 at the Extra Ordinary General Meeting of the
 Company held on 07.09.2010 and the in-principle approval received from
 BSE, the Board has allotted 400000000 convertible warrants into equal
 number of equity shares of Re. 1/- each at a premium of Rs. 1.55/- per
 warrant, in the Board meeting held on 09.11.2010 on preferential basis
 to promoters and non-promoters category. Pursuant to allotment of
 Convertible warrants, the Company, during the financial year 2010-11,
 has received monies aggregatingto Rs. 25.50 crores out of Rs. 102
 Crores.
 
 (b) The company has allotted 4,96,38,600 convertible warrants with an
 option to convert such warrants into equity number of equity shares of
 Re. 1/- each on preferential basis. Out of the total warrants so
 issued, 1,85,49,799 were converted into equal number of equity shares
 at a premium of Rs. 1.18/- per equity share. As at March 31,2010.
 Further 34,00,000 convertible warrants were converted into equal number
 of equity shares at a premium of RS 0.66/ per equity shares (Face Value
 Rs. 1/-) and 1450201 convertible share warrant into equal number of
 equity share at a premium ofRs. 1.18/-per equity shares (F.V Re. 1/-
 per share) during the financial year 2010-2011.
 
 (c) During 2011-12, the Company has allotted 45,77,000 equity shares
 pursuant to conversion of equal no of convertible warrants issued at a
 premium of Rs. 0.66/ per equity share (Face Value).
 
 8.  Allocation of Development expenses is pending to fixed assets.
 
 9.  Contingent Liabilities not provided for Bank Guarantees
 outstanding Rs. NIL (Rs. Nil).
 
 10.  Adoption of Accounting Standard 28 on impairment of assets does
 not have any impact either on the profit for the year or on the net
 assets ofthe company as at the year end.
 
 11.  Directors''Remuneration Rs. 15,20,000/- (Previous Year Rs.
 7,80,000).
 
 12.  Segment Reporting: The company has only one reportable segment.
 
 13. Previous year figures have been regrouped / rearranged /
 reconsidered, wherever considered necessary.
 
 14. As per information available with the company, there are no
 outstanding dues to Small Scale Ancillary Industrial Undertakings as at
 31.03.2012.