1.1 The company has one class of equity shares having a par value of
 Rs. 10 per share. Each shareholder is eligible for one vote per share.
 The dividend proposed by the Board of Directors is subject to the
 approval of shareholders, except in case of interim dividend.  In the
 event of liquidation, the equity shareholders are eligible to receive
 the remaining assets of the Company, after distribution of all
 preferential amounts, in proportion of their shareholding._
 
 1.2 Pursuant to amalgamation of Glorishine Property Developers Pvt Ltd
 (Trasferor Company) into and with the company, approved by the
 shareholders of the company and sanctioned by Hon''ble High Court at
 Mumbai on 21st October 2011, the company has issued and allotted
 1400000 equity shares of Rs. 10 each fully paid up on 5th December
 2011, to the shareholders of transferor company for consideration
 otherwise than in cash.
 
                                             2011-2012    2010-2011
 3 Contingent Liabilities                     (Amount in Lacs)
 
 a) Bank guarantee                             114.56        62.84
 
 b) Disputed liabilities not acknowledged 
 as debts                                      519.83       602.49
 
 4 In the opinion of the Board of Directors the current assets,loans
 and advances have value on realisation in the ordinary course of
 business, at least equal to the amount at which they are stated in the
 Balance Sheet. The company has made adequate provision for all known
 liabilities.
 
 5 Earlier year accumulated unprovided Depreciation on Fixed Assets Rs.
 4044436 (previous year Rs. 4044436)
 
 6 The Company has availed in earlier year the benefit of Sales Tax
 deferment scheme as per terms & conditions of Notification No. 3-
 32-94-ST-V-(5) dated 28/2/95 issued by department of Commercial tax,
 Govt. of M.P. has been deferred and carried forward as unsecured loan
 from Govt. of Madhya Pradesh. The necessary exemption/deferment
 certificate is yet to be received from the concerned authorities. The
 company moved writ petition before the Hon''ble High Court, Indore to
 get exemption certificate which was allowed against state order of MP
 High Court bench, Indore, the State Level Committee has moved a writ
 appeal before the Hon''ble division bench, MP High Court bench at Indore
 no. 168/2008 which is pending for further order.
 
 7 Balance of Creditors, Debtors, Deposits, Advances are partly
 confirmed
 
 8 Sundry creditors includes Bills payable Rs. 39940144 (Previous Year
 71477714).
 
 9 Leases : (where Company is lessee Operating Lease
 
 The Company has taken various premises under operating leases with no
 restrictions and are renewable / cancelable at the option of either
 parties. There is no escalation clause in the lease agreement. There is
 no sub-leases. There are no restrictions imposed by lease arrangements.
 The aggregate amount of operating lease payments recognized in the
 statement of profit and loss is Rs.848633 (Pre.Year Rs.1395000 ). The
 company has not recognized any contingent rent as expense in the
 statement of profit and loss
 
 10 The company has not received any information from Suppliers
 regarding their status under the Micro, Small and Medium Enterprises
 Development Act, 2006 and hence disclosure relating to amount unpaid as
 at the year end together with interest paid / payable under this act
 have not been given.
 
 11 Disclosure as per AS-15 (Revised) Employee Benefit''
 
 Defined Benefit Plan
 
 The employees gratuity is defined benefit plan. The present value of
 obligation is determined based on actuarial valauation using the
 projected Unit Credit Method, which recognize each period of service as
 giving rise to additional unit of employee benefit entitlement and
 measures each unit separately to build up the final obligation. The
 obligation for leave encashment recognized in the same manner as
 gartuity.
 
 12 Out of investment in equity shares of Anik Industries Limited, 10000
 equity shares are pleged to Motilal Oswal Securities Ltd.  aaainst
 loan.
 
 13 Lease hold land alloted by IDA to the company included in current
 assets, possession of which have been hand- over but lease deed of the
 same is yet to be executed pending full payment on allotemen
 
 14 The financial statements have been prepared in line with the
 requirements of Revised Schedule VI of Companies Act, 1956 as
 introduced by the Ministry of Corporate Affairs from the financial year
 ended on 31st March 2012. Accordingly, assets and liabilities are
 classified between current and non-current considering 12 month period
 as operating cycle. Consequently, the company has re-classified
 previous year figures to confirm to this year''s classification
 
 15 Current year''s figures are for nine months ended on 31.03.2012 where
 as previous year''s figures are for fifteen months ending 30.6.2011.
 
 16 Company information, Significant Accounting policies and practices
 adopted by the Company are disclosed in the statement annexed to these
 financial statements as Annexure A