1.  Contingent Liabilities and commitments not provided for-
 
                                      As at 31.3.2012    As at 31.3.2011
                                     (Rs. In lakhs)     (Rs. In lakhs)
 
 (i) '' Guarantees extended 
 by the Company on behalf of 
 other companies                            2400.00           2400.00
 
 (ii) Bank Guarantees given by the 
 Company —                                  --                  20.80
 
 (iii) Claims by parties/customers 
 not acknowledged as debts                   253.71            250.36
 
 2.  The Company has determined the Sundry Debtors to the extent of
 Rs.1849.69 lakhs (Previous Year Rs. 1867.02 lakhs) as doubtful debts.
 However the Company has not made any provision for the same in
 expectation of the recovery.
 
 3.  Balances of Sundry Debtors, Creditors, Loans and Advances are
 subject to confirmation and reconciliation, if any.
 
 4.  Except otherwise mentioned herein, in the opinion of the Board, the
 Current Assets, Loans and Advances are approximately of the value
 stated if realized in the ordinary course of business and the provision
 of all known liabilities is adequate and not in excess of the amount
 reasonably necessary.
 
 5.  Exceptional Items includes amount of Rs. 414,73 lacs of interest
 liabilities written back and credit to profit and loss account and
 waiver of interest liabilities payable to Oman International Bank SAOG
 as per negotiation made with them during the current reporting period.
 
 6.  The terms of Redemption of Preference Shares: -
 
 (i) 15% Redeemable Cumulative Non Convertible Preference Shares were
 redeemable at par in three equal annual installments from the end of
 7th year from the date of allotment i.e. 18th'' December 1996. However
 installments of redemption due by the year end date have not been paid.
 
 (ii) 0 % Redeemable Cumulative Non Convertible Preference Shares were
 redeemable at par on the expiry of 10th year from the date of allotment
 i.e. on 4lrt November, 2009. However, the Company has not paid anything
 to such Preference Shareholders till the year end.
 
 7.  No depreciation is provided by the Company on its fixed assets
 situated in Its closed units.
 
 8.  The Company was declared a sick company by the Hon''ble Board for
 Industrial and Financial Reconstruction (BIFR) within the meaning of
 clause (0) of sub - section (1) of section 3 of the Sick Industrial
 Companies {Special Provisions) Act, 1985 vide its order dated
 16.02.2006. The networth of the company has become positive during the
 current reporting period and the company is in the midst of making an
 application to come out of BIFR in the next hearing scheduled to be
 held on 03.05.2012 on the ground that it no more has negative networth.
 
 9.  The Company has recognized and created a deferred tax assets of
 Rs. 357.51 Lacs in respect of brought forward long term capital losses
 and depreciation of earlier year considering the possibility with
 reasonable certainty of their realization in subsequent years.
 
 10.  Segment Information
 
 Textile business is the Company''s only business segment; hence
 disclosure of segment-wise information is not applicable.
 
 11.  In absence of any business activity carried out by the only
 subsidiary company, consolidated financial statements have not been
 prepared.
 
 12. Previous reporting period figures have been regrouped and recasted
 wherever necessary.