Mahalaxmi Rubtech

1.  Related Party Transactions:
 
 As per Accounting Standard 18, Related Party Disclosure is as under:
 (a) List of Related Parties with whom transactions have taken place
 during the year and relationship:
 
 Name of the Related Party            Relationship
 
 Shah Jeetmal Champalal               Associate
 
 Mahalaxmi Fabric Mills Pvt. Ltd      Associate
 
 Mahalaxmi Calchem Pvt. Ltd           Associate
 
 Jeetmal B Parekh                     Key Managerial Personnel
 
 Rahul J Parekh                       Key Managerial Personnel
 
 Rajendra Mehta                       Key Managerial Personnel
 
 Kamlaben J Parekh                    Key Managerial Personnel
 
 2.  Contingent liabilities in respect of: 
                                                  2007-2008   2006-2007
 
 Bank Guarantee                                             Rs 1047510
 
 3.  In the opinion of the management the balances of sundry debtors
 loans and advances have approximately the same realisable value as
 shown in the accounts.
 
 4.  The company has not received information from existing suppliers
 regarding their status of registration under the Micro, Small, and
 Medium Enterprises Development Act,2006 and hence disclosure relating
 to such suppliers have not been given.
 
 5.  During the year company has received share warrant application
 money and the same has been applied for the working capital and for
 capital expenditure of expansion project.
 
 6.  Estimated amount of capital contracts remaining to be executed and
 not provided for Rs.5 lacs (Prv. Year Rs.Nil)
 
 7.  Previous years figures are regrouped and/or rearranged wherever
 considered necessary.
 
 8.  During the year Board of Directors of the company has approved the
 scheme of Amalgamation of Mahalaxmi Fabric Mills Pvt. Ltd. with
 Mahalaxmi Rubtech Limited, the company has applied to the Honble High
 Court of Gujarat for approval of the scheme, further on approval by the
 Honble High Court of Gujarat, Amalgamation will take effect from the
 appointed date as mentioned in the scheme, 1st April 2007 As per our
 report attached.