1 CORPORATE INFORMATION:
 
 M/s Rishab Special Yarns Limited was incorporated under Companies Act,
 1956 ( No. 1 of 1956) on 17.08.1987 as a public Limited company with
 its registered office at 2070, Rasta Bara Gangore, Jaipur -302003, to
 carry on the business of manufacturing, processing, texturising,
 twisting, doubling, dyeing of polyester filament yarn, and all other
 types of yarns and fibres.
 
 The company went public in February 1992. The basis of allotment was
 finalized on 10.04.1992 and company raised a total sum of Rs.290.43
 lakhs through this Initial public offer. Shares of the Company are
 listed with The Bombay Stock Exchange Ltd., Mumbai ,The Delhi Stock
 Exchange Association Ltd., New Delhi,Jaipur Stock Exchange Limited,
 Jaipur
 
 The company has decided in its Board Meeting held on 29.10.2005 to
 discontinue the then existing business operation of the company. Now
 company is evaluating to enter new businesses viz. Granite cutting &
 Polishing etc and business related to production and recycling and to
 trade, deal in import or export of various plastic materials and to
 manufacture various products of aforesaid material at present location
 at Abu Road.
 
 Contingent Liabilities - Not Provided for:
 
 S.  Particulars                            Amount        Amount
 No                                         (Rs. in Lacs) (Rs. in Lacs)
 
                                            31.03.2012    31.03.2011
 
 a)  In  respect of Cess demanded  by 
     Textile Committee  under the Textile    8.27            8.27
     Committee (Cess) Rules, 1975, for the 
     period from 1989 to 1997, against
     which company has filed writ petition 
     at Raj. High Court for nullifying 
     the levy
     of Cess and for setting aside the 
     demand (Rs. 400000/- deposited under
     protest & Rs. 426749/- retained as 
     security against the demand by 
     The Office
     of NHAI land acquisition, Abu Road 
     which is included in Loans & Advances)
 
 b)  In respect of Excise Duty and 
     Penalty demanded by Excise 
     Department for                          83.36          83.36
     clearances during March, 2003, against 
     which the company has filed appeal
     with Hon''ble Tribunal Excise 
     Custom & Service Tax, New Delhi 
     (Rs. 801632/-deposited, included 
     in Loans & Advances).
 
 
 
 
 
 
 2.  Figures of the previous year have been regrouped and rearranged to
 correspond to current year''s classification.
 
 3.  Provision for Current and Deferred Tax: No provision for tax for
 the year has been made in view of losses in current year and in view of
 uncertainty of future business deferred tax assets has not been
 recognized.
 
 4.  Due to Micro, Small & Medium Enterprises: To the extent of
 information available with management, there are no SSI units to whom
 Company owes money for more than 30 days.
 
 The Company has not received any communication from the suppliers
 regarding their status under the Micro, Small and Medium Enterprises
 Development Act, 2006 and hence disclosures, if any, relating to
 amounts unpaid as at the year end together with interest paid / payable
 as required under the said Act have not been given.
 
 5.  In the opinion of management, loans and advances and other assets
 are approximately of the value stated, if realized in the ordinary
 course of business unless otherwise stated. The provisions of all
 liabilities are adequate and not in excess of the amount reasonably
 necessary.
 
 6. Additional information pursuant to the provisions of paragraphs 3
 and 4 of Part II of Schedule VI of the Companies Act, 1956 is not
 applicable.
 
 7. Disclosure as required by Accounting Standard 24 : Discontinuing
 Operations and Accounting Standard 28 : Impairment of Assets
 
 The company was incurring heavy losses in textile business. Under the
 circumstances the Board of directors in their meeting held on
 29.10.2005 decided to discontinue the business operations of the
 company and to sell the company''s machinery & equipments and surplus
 land to repay the liabilities of the company. The company has sold
 entire fixed assets except major part of land & building and some
 furniture & fixtures.
 
 8.  Disclosure as required by Accounting Standard - 18 on Related
 Party Disclosures issued by the Institute of Chartered Accountants of
 India are as follows:
 
 a. Relationship
 
 i.  Key Management Personnel & their relatives
 
 Mr. Amitabh Hirawat - Managing Director
 
 Mr. Nathmal Hirawat - Father of Mr. Amitabh Hirawat
 
 Srnt. Padam Devi Hirawat - Mother of Mr. Amitabh Hirawat
 
 ii.  Enterprises owned or significantly influenced by key management
 personnel or their relatives where transactions have taken place:
 
 Trepechy Trading Pvt. Ltd.  Shashwin Textiles Ltd.  Trepechy Textiles
 Pvt. Ltd,
 
 Note: Related party relationship is as identified by the company &
 relied upon by the Auditors.
 
 Notice Pursuant to Section 192A (2) of the of the Companies Act, 1956
 read with the Companies (Passing of the Resolutions by Postal Ballot)
 Rules, 2011.