NOTE [1.1]
 
 Terms / rights attached to equity shares
 
 (a) The Company has Two class of shares:
 
 (i) Equity shares having a par Value of Rs.10/- per Share. Each holder of
 equity shares is entitled to one Vote per share.
 
 (ii) 1% Redemable Preference shares having a par Value of Rs. 100/- per
 Share redeemable on 22nd November, 2012.
 
 (b) The dividend on equity shares proposed by Board of Directors is
 subject to approval of shareholders in the ensuing Annual General
 Meeting.
 
 (c) In the event of liquidation of the company, the holders of equity
 shares will be entitled to receive the remaining assets of the company,
 after distribution of all preferential amounts. The distribution will
 be in proportion to the number of equity shares held by the
 shareholders
 
 (d) The company has not issued any bonus shares or bought back the
 equity shares in the last 5 years immediately preceding the balance
 sheet date.
 
 2.  Contingent Liabilities               As At             As At
 
                                         31.03.2012      31.03.2011
 
 i) Income Tax Matter                    Rs.788,600      Rs.788,600
 
 ii)  Dividend Arrears of 1% 
 Redeemable Cumulative                 Rs.6,175,000    Rs.5,700,000
 Preference Shares
 
 3.  Deferred Tax:
 
 The Company has not recorded cumulative net deferred tax assets as of
 31.03.2012 in view of uncertainty of reversal of the same in immediate
 future.
 
 4.  Segment Reporting
 
 As the Company has only one reportable segment, segment reporting as
 per Accounting Standard - 17 is not applicable.
 
 5.  Previous year figures have been regrouped and / or reclassified
 wherever necessary to correspond with current year''s classification /
 disclosure in consonance with the revised schedule VI of the Companies
 Act, 1956.