Poly Medicure

1.  Contingent liabilities not provided for:
 
 Particulars                                      Year ended
 
                                        March 31, 2008  March 31, 2007
 
 Unexpired letters of credit 
 (Net of margins)                              Rupees       Rupees
 
 Counter Guarantees given to bankers 
 for guarantees issued by them           40,330,553       45,157,475
 
 Bills discounted but not matured         1,857,239        5,398,046
 
 Demand from custom contested in 
 Appeal (Amount paid Rs. 120354,         71,444,913       48,047,328
 previous year Rs. 120354)  
 
 Custom duty payable against import 
 under Advance Licence Scheme               120,354          120,354
 
 Custom duty payable against import 
 under EPCG Scheme                       11,668,290       19,204,303
 
 Compensation for enhanced cost of 
 Land contested in Punjab & Haryana      12,256,751        4,523,855
 
 High Court (Amount paid Rs. 233430, 
 Previous year Rs. 233430)                  933,720          933,720
 
 Income tax matters contested in appeal      40,197           40,197
 
 2.  Estimated amount of contracts remaining to be executed on capital
 account and not provided for Rupees 8,541,820 (Previous year
 Rs.41,349,962). Advances paid there against Rs. 3,023,414 (Previous
 year Rs.  11478916).
 
 3.  Company had allotted 425000 Warrants on March 17, 2007 on
 preferential basis to the promoters, convertible into equal number of
 equity shares of Rs. 10/- each at a conversion price of Rs. 106
 (including Rs. 96 as share premium) per equity share within a period of
 18 months in accordance with SEBI (Disclosure & Investor Protection)
 Guidelines and had received 10% payment against that. During the year,
 106250 warrants have been converted into equal number of equity
 shares.
 
 4.  The company has not received any intimation from suppliers
 regarding their status under the Micro, Small and Medium Enterprises
 Development Act,2006 hence disclosure required under Schedule VI vide
 notification no. GSR 719(E) dated 16.11.2007, relating to amount unpaid
 as at the year-end together with interest paid /payable has not been
 given.
 
 2.  Figures of previous year have been regrouped or rearranged
 wherever found necessary and the same are appearing in brackets.