# 1.1 : Term Loan from State Bank of India is secured by way of
 Hypothecation of Company''s present and future movable fixed assets like
 Plant and Machineries (except machineries on which charge belongs to
 EDC), Equipment etc.  alongwith equitable mortgage of immovable
 properties located at Bommasandra, Bangalore and land located at
 Primrose Road, Bangalore, further secured by way of personal guarantee
 of 2 directors. The said loan is repayable in 6 years in quarterly
 installments, the last of which is due on March 2016.
 
 # 1.2 : Buyer''s Credit on capital goods-the same is taken on the basis
 of letter of credit issued by State Bank of India, security for the
 said Buyer''s credit are same as stated supra in note #4.1, the
 repayment of same shall be made from newly sanctioned term loan to be
 disbursed upon maturity of buyer''s credit.
 
 # 1.3: Term Loan from Export Development of Canada: this is an external
 commercial borrowing secured by way of hypothecation of specified
 machineries, the loan shall be repayable in 6 years in equal semi
 annual installments, commencing from Dec. 2012.
 
 1.  All the figures in the Financial Statement have been rounded off to
 the nearest rupees lakhs.
 
 2.  These financial statements have been presented in accordance with
 the requirements of the revised Schedule - VI notified by the Ministry
 of Corporate affairs vide Notification no. F.No.2/6/2008-CL-V dated
 March 30, 2011.  Accordingly, figures of the previous year have been
 reclassified, regrouped, aggregated and segregated, wherever necessary,
 to confirm to the requirements of the revised Schedule VI.
 
 3.  No amount is paid / payable by the Company under Section 441A of
 the Companies Act, 1956 (cess on turnover) since the rules specifying
 the manner in which the cess shall be paid has not been notified yet by
 the Central Government.
 
 4.  Balances in debtors, creditors and advances accounts as appearing
 in the books of account at the close of relevant accounting year are
 subjected to external confirmation/ reconciliation after the year end
 as per standard accounting practice followed by the company. In the
 opinion of the Board, all the current assets, loans and advances have a
 value on realization in the ordinary course of business of a sum at
 least equal to the amount at which they are stated in the books of
 account.
 
 5.  Details relating to dues to Micro, Small and Medium enterprises as
 per Micro, Small and Medium Enterprises Development Act, 2006 on the
 basis of such parties having been identified by the Management and
 relied upon by the Auditors. The Company has not received any claim for
 interest from any supplier under the said Act. The following table
 provides the details
 
 6.  Estimated amount of contracts remaining to be executed on Capital
 Account as on March 31, 2012 is Rs 3350.81 lakhs (Previous year: Rs114.75
 lakhs) against which advance of Rs.1373.93 lakhs (previous year Rs 55.29
 lakhs) has been made.
 
 7.  Additional information pursuant to the requirements of revised
 Schedule VI to the Companies Act, 1956:
 
 8.  The Company is engaged in the manufacture and sale (both Domestic
 and Exports) of PET / Plastics Preforms and Containers, on own
 account and on account of others which constitutes single business
 segment. As per Management perspective the risks and returns from its
 sales do not materially vary geographically. Accordingly, there are no
 other business / geographical segments to be reported as per Accounting
 Standard 17 issued under the Companies (Accounting Standards) Rules,
 2006.
 
 9.  Pursuant to disclosure requirements of Accounting Standard 18 on
 related parties issued under the Companies (Accounting Standards)
 Rules, 2006, the following disclosures are given:
 
 i.  List of related parties and their relationship
 
 Enterprises under common control of the management (EUC)
 
 - Mphinite Technologies Private Limited
 
 - Mphinite Solutions Private Limited
 
 - Manjushree Fincap Private Limited
 
 - Shruti Financial Services Private Limited
 
 - Hitech Creations Private Limited
 
 Key Management Personnel (KMP)
 
 - Vimal Kedia
 
 - Surendra Kedia
 
 - Rajat Kedia
 
 - Ankit Kedia
 
 Relatives of Key Management Personnel (RKMP)
 
 - Sashi Kedia (wife of Surendra Kedia)
 
 - Savita Kedia (wife of Vimal Kedia)
 
 10.  In the Management''s view there is no impairment to assets as per
 Accounting Standard 28 issued under the companies (Accounting
 Standards) Rules, 2006. Consequently, there is no impairment loss
 debited to the statement of profit and loss.
 
 11.  Details of provisions, contingent liabilities and contingent
 assets as per Accounting Standard 29 issued under the Companies
 (Accounting Standards) Rules, 2006:
 
 i.  The movement in provisions account is detailed below:
 
 ii.  Contingent Liabilities not provided for:
 
                                                 Figures in Rs In Lakhs
 
 Particulars    As on March 31, 2012      As on March 31, 2011
             Total     Margin/    Net       Total     Margin/   Net
             Liability Deposits   Liability Liability Deposits  Liability
 
 1 Disputed 
 liability 
 towards
 customs 
 duty 
 under
 appeal         -         -         -         2.86      -       2.86
 
 Total                                        2.86      -       2.86
 
 12.  The Company is in the process of obtaining the compliance
 certificate regarding maintenance of Cost Accounting records for the
 current financial year as required under Notification No. G.S.R.
 429(E), dated 3rd June 2011 issued by the Ministry of Corporate
 Affairs.
 
 13.  Prior period items for the current year aggregating to Rs 161.49
 lakhs (PY-Nil) comprises of following items:
 
 a.  Rs 165.03 Lakhs - on account of depreciation short provided in the
 earlier years on certain items of plant and machineries.
 
 b.  Rs (3.54) Lakhs - on account of reversal of excess provision for
 gratuity made on adhoc basis in the earlier years.  Rs 161.49 Lakhs -
 Total