1.  Estimated amount of contracts remaining to be executed on capital
 account and not provided for (Net of advances) is Rs. 31,281,400
 (previous year Rs. 6,758,250).
 
                                         (Amount in Rupees) 
 
                                          2010-11     2009-10
 
 2.  CONTIGENT LIABILITIES:
 
 
 a) Disputed Income Tax Liability        456.084        NIL
 
 b) Bonds issued under Export 
    Promotion Capital Goods              3,369,825      NIL
    Scheme
 
 3.  The Company has not received information from Vendors regarding
 their status under the Micro, Small and Medium Enterprises Development
 Act 2006, and hence disclosures relating to amounts unpaid as at the
 year end together with interest paid / payable under this Act have not
 been given. The same has been relied upon by the Auditors.
 
 4.  Balances of Sundry Debtors, Loans & Advances and Creditors are
 subject to confirmation and consequential adjustment, if any.
 
 5.  Employee Benefits:
 
 The disclosures as required under the Accounting Standard 15 (Revised)
 are as under: - The Company has schemes for long-term benefits such as
 Provident Fund, Gratuity and leave encashment. In case of funded
 scheme, the funds are recognized by the Income tax authorities and
 administered through trustees / appropriate authorities. The Companys
 defined benefit plans include gratuity and leave encashment. The
 companies Defined Contribution Plan includes Provident Fund.
 Accordingly related disclosures are as under:
 
 6.  RELATED PARTY DISCLOSURES:
 
 a) LIST OF RELATED PARTIES AND RELATIONSHIPS:
 
 PARTIES WHERE CONTROL EXIST:
 
 I Companies / Partnership Firms / Proprietorship Concerns where the
 companys director (s) along with their relatives are Director(s) /
 Partners) / Proprietor hold more than 50% voting power or share:
 
 i)   Modicon Pvt. Ltd. (Formerly Modison Private Ltd.)
 
 ii)  Modison Copper Pvt. Ltd.
 
 iii) Modison Chemtech Pvt. Ltd.
 
 iv)  Modison Contacts Pvt. Ltd.
 
 v)   Modison
 
 vi)  Modison Investments
 
 vii) Modison International
 
 viii)Anujay Corporation
 
 II KEY MANAGEMENT PERSONNEL:
 
 i) Mr. G. L. Modi Managing Director
 
 ii) Mr. Rajkumar Modi Wholetime Director
 
 III RELATIVES OF KEY MANAGEMENT PERSONNEL:
 
 Mr. S. M. Mody, Mr. Prakash Modi, Mr. Kumar Jay Modi, Mrs. Rama S.
 Modi, Mr. Anand Modi, Mr. O. P. Modi, Mrs. Chandramani Devi Modi, Mrs.
 Gini Devi Modi, Mrs. Lalita Devi Modi, Mr.  Amit Modi, Mrs. Sarla G
 Modi, Mohanlal Modi H.U.F., G. L. Modi H.U.F., S. M. Mody H.U.F.  and
 Mohanlal Modi (Estate).
 
 7.  OPERATING LEASES DISCLOSURE.
 
 Assets Taken on Lease
 
 The companys major leasing arrangements are in respect of staff
 quarters and office premises taken on Leave and Licence basis. The
 aggregate lease rentals of Rs 409,160 and Rs. Nil (Previous Year:
 480,500 and Rs.400,000) are charged as Rent and shown under the
 Schedule of Manufacturing Expenses and Sales, Administrative & Other
 Expenses respectively. These leasing arrangements, which are
 cancelable, range between eleven months and three years generally or
 longer and are usually renewable by mutual consent at mutually agreed
 terms and conditions.
 
 8.  Previous year figures have been re-grouped / rearranged / restated
 wherever considered necessary to make them comparable with those of the
 current year.