1. The value on realization of current assets in the ordinary course of
 business would not be less than the amount at which they are stated in
 the Balance Sheet. According to the management, provision for all the
 known liabilities is adequate.
 
 2.  Balances in Debtors, Creditors, loans, advances, and other current
 assets are subject to confirmation and reconciliation.
 
 3. The Company is a Small and Medium Sized Company (SMC) as defined in
 the General Instructions in respect of Accounting Standards notified
 under the Companies Act, 1956. Accordingly, the Company has complied
 with the Accounting Standards as applicable to a Small and Medium Sized
 Company.
 
 4. The Micro, Small and Medium Enterprise Development Act, 2006 has
 repealed the provision of interest on delayed payment to small scale
 and ancillary industrial undertaking Act, 1993. The management does not
 find it necessary to provide for interest on delayed payments to the
 suppliers covered by the said Act in view of insignificant amount and
 probability of its outgo. 
 
 5. Related Party Disclosures, as required by AS-18 are given below:
 
 A. Relationships:
 
 Category I: Holding Company NIL
 
 Category II: Key management Personnel
 
 PriyaN. Mehta,Nirav P. Mehta,Purnima P. Mehta,Sujit Mehta
 
 Category III: Others (Relatives of Key Management Personnel and
 Entities in which the Key Management Personnel have control or
 significant influence) Subir Diamonds Private Ltd.