a) Contingent Liability:
 
 i) Excise Duty Rs. Nil(P.Y. 75,0007-) for which appeal is pending.
 
 ii) Letter of Credit Rs.NiKPY8,80,404/-) and Letter of Guarantee
 Rs.Nil(P.Y 88,46,858/-).  iii) Service Tax liability of Rs. Nil (P.Y.
 Rs. 57,29,279/-) against which appeal is pending iv) Sales Tax
 liability of Rs. Nil (P.Y. Rs.7,47,201 /-) against which appeal is
 pending v) Income Tax Liabilities for A.Y. 2009-10 Rs.2,15,817/- (P.Y.
 AY 2008-09 of Rs. 71,17,100/-) Against which appeal is pending.
 
 b) Estimated amount of contracts remaining to be executed on capital
 account and not provided for Rs.Nil (P.Y. Nil).
 
 c) Sundry Debtors, Sundry Creditors & advances are subject to
 confirmation by die respective parties. Neces- sary Adjustments in
 account will be made in the year in which discrepancy, if any, may be
 noticed.
 
 i) Sundry Loan & Advances and other assets are, in die opinion of
 management stated at die amount realizable hi me ordinary course of
 business and provision for all known and determined liabilities are
 adequate and not in excess of die amounts reasonably required.
 
 d) The Company has during me year in accordance widi Accounting
 Standard AS-22 Accounting for Taxes on Income issued by the Institute
 of Chartered Accountants of India, recognized in die profit & Loss
 account a difference of Rs. 4,11,27,958/- between net, deferred tax
 liabilities of Rs.21,53,087/- as on 31st March 2012 and on die deferred
 tax liabilities of Rs.4,32,81,045/- as on 31st March 2011.
 
 e) The Company has made provision for gratuity on estimate basis which
 is not in accordance with Accounting Standard 15 Retirement Benefits.
 As per AS 15, Gratuity should have been provided on the basis of
 actuarial valuation.
 
 f) The Company has sold its manufacturing unit at Panoli to M/s
 Huntsman Performance Products (India) Pvt.  Ltd, on 1 st April, 2011 as
 per the Hon. High Court order dated 11 th March 2011 and hence the
 Company has discontinued its operation since then.
 
 g) Previous year figures have been regrouped/ reclassified wherever
 necessary.
 
 h) Since the Company is dealing in one segment, No separate Segment
 reporting is given.