a) Contingent Liabilities
 
 i) Counter Guarantee given to the Bank for the performance guarantee
 given by them of Rs. 77.16 lacs (P.Y. Rs.52.92 lacs).
 
 ii) Disputed sales tax liability of Rs. Nil (P.Y. Rs. 161.93 Lacs ).
 
 iii) Letter of Credit outstanding of Rs. Nil (P.Y. Rs. 568.82 Lacs).
 
 iv) Estimated amount of contract remaining to be executed on Capital
 Account and not provided for Rs. 5.00 lacs (P.Y. Rs. 419.45 Lacs)
 
 v) Disputed excise liability for the period August, 2009 to
 December,2010 raised by the Central Excise Dept. for Rs.17,99,007.  »
 
 c) Income Tax
 
 i) The Company has made adequate provision of Current Tax Rs. Nil (P.Y.
 Rs. Nil/-) under the provisions of Income Tax Act, 1961.
 
 d) Sales Tax Deferment
 
 Unsecured loan represent Interest free Sales Tax Deferment of Rs.
 2,32,72,936/- out of these, a sum of Rs 20,54,315/- (P. Y. Rs
 13,97,276/-) is due within the immediate next year and Rs. 76,45,302/-
 is payable in next 5 yearly installments till year 2016-17.
 
 Further Rs. 97,81,109/- (P.Y. Rs 55,46,525/-) is added in above
 unsecured loan as per sanction of the deferment scheme by the Sales Tax
 authorities.
 
 b) Managerial Remuneration *
 
 Directors Remuneration paid Rs 23,99,999/- (Previous Year Rs.
 25,95,169/-).
 
 c) Segment Reporting
 
 The Company has only one reportable segment i.e. Cold drawn Seamless
 Pipes and Tubes.  Hence requirement of Accounting Standard, AS-17
 Segment Reporting are not applicable.
 
 d) Impairment of Assets
 
 There is no such impairment of assets at the year ended on 31.03.11 in
 terms of Accounting Standard, AS - 28. Hence company has not made any
 provision for impairment loss.
 
 e) Dues to Small Scale Industrial Undertakings
 
 The Company has not received any intimation from ''suppliers'' regarding
 their status under the Micro, Small and Medium enterprises Development
 Act, 2006 and hence disclosures, if any relating to amount unpaid as at
 the year end together with interest paid/payable as required under the
 said Act have not been furnished.
 
 f) Additional Information pursuant to clause 3,4C, 4D of Part II of
 Schedule VI of Companies Act, 1956.
 
 g) In the opinion of Board the current assets, loans & advances are
 approximately of the value stated in the balance sheet if realized in
 the ordinary courses of business.
 
 h) Previous years figures have been regrouped, wherever necessary to
 make them comparable with those of current year. Figures in the
 brackets represent figures for the previous year