1) The total outstanding of sundry debtors as on year end is Rs.
 38,006,086/- (P.Y. Rs. 31,134,510) out of which substantial amount of
 debtors of Rs. 34,394,168/-(RY. Rs.  26,674,842) (foreign currency AED
 2,789,968 (P.Y Rs. 2,175,762) is outstanding from its foreign branch
 for which confirmations are awaited.
 
 2) a) In the opinion of the management and to the best of their
 knowledge and belief the value on realisation of loans, advances and
 other current assets in the ordinary course of the business shall not
 be less than the amount at which they are stated in Balance Sheet.
 Further provisions have been made for all known and accrued
 liabilities.
 
 b) The outstanding balances of Debtors, Creditors, Loans and advances
 either debit or credit are subject to confirmation by the parties.
 
 3) a) As per the opinion of the Management, the creditors outstanding
 in the balance sheet except creditors for foreign branch to whom the 
 Company owes dues on account of principal amount together with 
 interest do not fall in the category of Micro, Small & Medium Enterprises 
 as defined in the Micro, Small, Medium Enterprises Development Act, 2006,
 and accordingly no additional disclosures have been made by the management.
 In the absence of confirmation from the creditors and based on the management explanation as above the facts
are relied upon by us.
 
 b) No comments are offered on the creditors outstanding in the balance
 sheet of foreign branch of the company as the audit of foreign branch
 is done by local auditors.
 
 4) Figures relating to previous year have been regrouped/ rearranged
 wherever necessary.
 
 5) Since there is no commission payable to directors, the mode of
 computation of net profit as required U/S 198 & 349 of the Companies
 Act, 1956 is not given.
 
 Even though no yield is received from these subsidiary/Associate
 companies, the provision for erosion in value if any, of these
 investments are not made since in the opinion of management, these are
 long term and do not require provisioning.
 
 6) Additional information pursuant to paragraphs nos. 3 & 4 of part II
 of Schedule VI of the Companies Act, 1956 as certified by the
 management.
 
 The quantity details as mentioned above are relating to UAE branch and
 therefore details are subject to verification and are relied upon as
 per the information provided by the management.
 
 7) Disclosure of the relationship and transactions in accordance with
 Accounting Standard 18- Related Party Disclosures issued by the
 Institute of Chartered Accountants of India :
 
 8) SEGMENT INFORMATION
 
 The Company is principally engaged in the business of international
 trading in Dubai and there are negligible operations in India and
 therefore discloser as per AS 17 segment reporting is not applicable to
 the company.
 
 9) During the year the Company has allotted 3300000 warrants on
 13-11-2010 to M/s Sat Invest Pvt. Ltd.  convertible into equity share
 of Rs.2/- each at a premium of Rs.39/- each within 18 months from the
 date of allotment. The Company has received Rs.3,38,25,000/- being 25%
 of the amount of share warrants within the stipulated time and same is
 shown in shareholders fund after the capital of the Company.
 
 10) In the opinion of management, there is no impairment of fixed
 assets as prescribed in the accounting standard (AS-28) on impairment
 of assets.
 
 11) The Company''s foreign branch situated at U.A.E. is audited by the
 local auditor for the financial year ended on 31st March, 2011.
 
 12) The company has not appointed whole-time company secretary as
 required by the provisions of section 383A of the Companies Act, 1956.
 The company may face penalty for contravention of the section. However,
 to appoint a Company Secretary, Company is continuously making efforts
 and looking for right person but the effort has not been materialized