During the year company has availed OTS scheme as prescribed by GOG
 with The Charotar Nagrik Sahkari Bank Ltd H.P A/c 72 vide their letter
 dated 13/12/2011 company has to pay RS. 38840455 after adjusting all
 FDS with the Charotar Nagrik Sahkari Bank and interest thereon. The
 payment terms are 15% i.e. RS. 5826069 payable immediately and balance
 amt. Of RS.33014386 is payable on RS.1375600 monthly 24 installments
 and simple interest @7% thereon.  The increased in Liabilities of
 secured loan as compare to previous year was adjusted by debiting
 interest paid for Rs.  17623355.51 same amount is effected in profit &
 loss A\C
 
 During the year company has availed OTS scheme as prescribed by GOG
 with The Charotar Nagrik Sahkari Bank Ltd B/ P. A/c no. 2 vide their
 letter dated 13/12/2011 company has to pay RS. 86,87,942. The payment
 term are 15% payable i.e. RS. 13,03,191 payable immediately and balance
 amount of RS.73,84,751 is payable on RS. 309768 installment and simple
 interest @7% thereon. The increased in Liabilities of secured loan as
 compare to previous year was adjusted by debiting interest paid for RS.
 2746610 same amount is effected in Profit & Loss A/c The above balances
 are subject to completion of OTS scheme by the company in prescribed
 time period.
 
 Note : During the year amount payable of CST Rs. 474582 and Sales tax
 Rs. 10658.32 outstanding since las long period and amount receivable of
 Rs. 16600 from Mercury Metax Ltd. are written off during the year.
 
 Note :- 1 CONTINGENT LIABILITIES NOT PROVIDED FOR IN RESPECT OF :-
 
 Guarantee given by company on behalf of the Rupangi impex Ltd (Group
 Company) Rs. 738 Lacs Note:- 18
 
 In the opinion of the board, the current assets, Loans & Advances are
 approximately of the value stated therein, if realized in the ordinary
 course of business. The provision for all known liabilities are
 adequate and not in excess of the amount reasonably necessary. There
 are no contingent liabilities other than stated in the noted. Balance
 of secured and unsecured loans, sundry creditors, sundry debtors and
 loans & advances are subject to confirmation & reconciliation.  No
 provision made for doubtful debts.
 
 Note:- 2
 
 Investment and inventories of shares are subject to physical
 verification. In respect of shares held as investment or inventories by
 company. The same are stated at cost of acquisition. In respect of
 quoted shares where market value is not available no provision is made
 for diminution in the value of shares. Since in the opinion of the
 management, such decline is temporary phase and no provision would be
 necessary.
 
 Note:- 3
 
 Value of import on CIF basis in respect of material is :- NIL (
 Previous year :- NIL) Value of all imported materials & % of such
 material with total cost of material is Rs. NIL(P.Y.NIL) Earning in
 foreign exchange is :- NIL ( Previous Year :- NIL)
 
 Note:- 4
 
 The liabilities of small scale industries for suppliers & services in
 excess of Rs. 100000/- is NIL 
 
 Note:- 5
 
 During the year ended 31st March 2012,revised Schedule VI notified
 under the Companies Act 1956 became applicable to the Company , for
 preparation and presentation of its financial statements . The adoption
 of revised schedule VI does not impact recognition and measurement
 principal followed for preparation of financial statements the previous
 year figures has also reclassified in accordance to requirements
 applicable to current year.
 
 Note:- 6
 
 -Segment information for the year ended 31st March,2012
 
 Segment information is not applicable to company as company does not
 have turnover of Rs.50 crore.
 
 Note:-25
 
 Related party disclosure as required by AS-18 are given below.  Name of
 Related parties
 
 1) Shree Metalloys Ltd.
 
 2) Milan Metal Pvt. Ltd. ( In Liquidation)
 
 3) Mercury Metex Ltd. ( In Liquidation)
 
 4) Govindram L. Kabra
 
 5) Ramprakash L. Kabra
 
 Mercury Metex Limited balance of Rs. 16600, written off during the
 year.