1. Contingent liabilities not provided for Cheques discounted 125,000
2. Secured loans
i) Borrowing from bank is in the nature of cash credit facilities which
are secured by way of hypothecation of stock of raw materials, stock in
process, stores spares, finished goods, goods - in - transit and book
debts and receivables; and collaterally secured by way of charge over
fixed assets of the Company alongwith personal guarantees of, Mr. B. R.
Arora, Mr. C. M. Marwah, Mr. M. R Sharma, Mr. N. L. Arora and Mr. G. K.
Arora, the directors of the Company.
ii) Loan from Haryana State Industrial Development Corporation Ltd. has
been availed as a bridge finance pending disbursement of investment
subsidy from the State Government of Haryana and secured by way of
personal guarantees of Mr. B. R. Arora, Mr. C. M. Marwah, Mr. M. R
Sharma, Mr. N. L Arora and Mr. G. K. Arora, the directors of the
Company and collaterally secured by way of pledge of shares owned by
the above named directors and their family members/associates.
iii) Loan from others (vehicle finance Company) is secured by way of
hypothecation of vehicle and guaranteed by an associate Company.