1. The Company is selling up a refinery and polypropylene plant
 (Project) in a Special Economic Zone at Jamnagar.  Gujarat. India. No
 Profit and Loss Account has been prepared since the Company has not
 commenced revenue operations. The, expenditure incurred during the
 construction period are classified as Project Development
 Eixpenditure pending capitalisation and will be apportioned to the
 Assets on the completion of the Project. Necessary details as per part
 II of Schedule VI to the Companies Act, 1956 have been disclosed below:
 
 2 During the previous year the Company had raised Rs.810000 
 through Initial Public Offering (IPO) and the same had been utilised
 for the Project during the previous year.
 
 3 Miscellaneous Expenditure representing share issue expenses
 amounting to Rs. Nil (Previous year: Rs. 5100 86 690) adjusted against
 the Securities Premium Account.
 
 4 The Companys activities during the year revolve around setting up of
 the Project (Refer Note 1 above). Considering the nature of Companys
 business and operations, there are no separate reportable segments
 (business and/ or geographical) in accordance with the requirements of
 Accounting Standard 17 - Segment Reporting, notified in the Companies
 (Accounting Standards) Rules 2006.