1. (a) Contingent Liabilities: NIL (NIL) (b) Guarantees/Counter
 Guarantees issued by the Company Rs. NIL (N I L)
 
 2. Capital commitments : Rs. N I L (N I L)
 
 3. In the opinion of the Board, Current Assets, Loans & Advances, if
 received in the ordinary course of business, will atleast, be equal to
 the value stated in the Balance Sheet & provision for all known
 liabilities has been made in the accounts.
 
 4. Advance for Purchase of real estate is being treated as a trade
 advance, since the company does not intend to hold the said real estate
 as a Fixed Asset.
 
 5. Auditors Remuneration :
 
 Audit Fee Rs.10,000 (Rs.10,000)
 
 Service Tax Rs. 500 (Rs. 500)
 
 Income Tax Matters Rs. 5,000 (Rs. 5,000)
 
 6. The Company has entered into Agreements to Sell agricultural land
 shown under the head Inventories-Real Estate and has received an
 advance of Rs. 16,78,000 (Previous year Rs.17,80,000) against the said
 Agreement. The possession of the said land remains with the company
 
 7. No provision for taxation has been made in the accounts in veiw of
 the loss made by the company.
 
 8. Sundry Debtors of Rs. 74,56,000 in the opinion of Directors is
 doubtful for recovery. No confirmation of closing balances is received
 from debtor. A provision of Rs.74,56,000 has been created in the
 accounts towards doubtful debts.
 
 9. During the year, the company has made a provision of Rs. 5,67,856
 being 100% of the substandard assets. Further provision of Rs. 2907 has
 been made being 20% of substandard asset of Rs. 14536.
 
 10. During the year the company has made a provision of Rs. 56,32,100
 being 50% of advance given earlier tor purchase of real estate. The
 said advance is doubtful for recovery as proceedings against the vendor
 have not - resulted in recovery of any part of the amount or settlement
 in real estate.
 
 11. The company has assigned two doubtful advances including past
 interest thereon in settlement of its current liabilities due to a
 Director.
 
 12. The company has made a provision of Rs. 4,12,126 against advance
 given earlier to share transfer agent as there is an accounting dispute
 with respect to this amount.
 
 13. Additional information as required by part II, Schedule VI of the
 Companies Act 1956. (1) Particulars in respect of opening and closing
 stock, Purchase and sales.
 
 (A) Equity Shares :
                                      Quantity                     Value
                                (No.of Shares)
                                                                   (Rs.)
 
 Opening Stock                 NIL    (98,100)          NIL  (16.55,484)
 
 Sale return (Purchases)  3,20,400  (2,15,100)    12,81,200  (23,07,661)
 
 Sales                         NIL  (3,13,200)          NIL  (12,52,800)
 
 Closing Stock            3,20,400       (NIL)    12,81,200        (NIL)
 
 (B) Real Estate:
 
                                Quantity (Acres)             Value (Rs.)
 
 Opening Stock                        27    (60)  23,42,117  (44,23,617)
 
 Additions Land                        -    (17)        NIL  (16,80,000)
 
 - Land development                    -     (-)        NIL        (NIL)
 
 Sales                                 -    (50)        NIL  (27,40,000)
 
 Closing Stock                        27    (27)  23,42,117  (23,42,117)
 
 14. Expenditure in foreign currency NIL (NIL)
 
 15. Earning in foreign exchange NIL (NIL)
 
 16. Remittance in foreign exchange NIL (NIL)
 
 17. Previous years figures are displayed in brackets.
 
 18. Previous years figures have been regrouped/rearranged wherever
 considered necessary.