1.  A) Contingent Liabilities: Nil
 
 B] The Board does not anticipate any claims against the Company.
 
 2: Previous years figures have been regrouped and rearranged wherever
 found necessary to make them comparable to those of the current year.
 
 3.  Balances standing to the debit/credit of parties disclosed under
 the heads Current Assets, Loans and Advances as well as Current
 Liabilities are subject to confirmation as are the balances of
 financial institutions, banks and unsecured lenders.
 
 4.  In view of the losses incurred by the company no provision for
 taxation is made in the current year.
 
 5.  The working of deferred taxation of the company shows that in view
 of the losses over a period of time, there is a deferred tax asset of
 Rs 2.03,55,537/-for the earlier years and Rs.8,51,611/- the
 current year under audit As per para 18 of the Accounting standard 22,
 an enterprise is required to recognise deferred tax assets only to the
 extent that it has timing differences the reversal of which will result
 in sufficient income or there is other convincing evidence that
 sufficient taxable income will be available against which such deferred
 tax assets can be realised.  In the opinion of the directors it is not
 likely that sufficient income will arise to set off deferred tax assets
 as worked out above. The directors did not consider it prudent to make
 any entry in the books of accounts for deferred tax asset.
 
 6.  The undertakings to whom amounts outstanding for more than 30 days
 in respect of small scale undertakings where such dues exceed Rs 1 lakh
 are Rs Nil The information has been complied in respect of parties to
 the extent to which they could be identified as small scale and
 ancillary undertakings on the basis of the information available with
 the company.
 
 7.  In the opinion of the Board, all known liabilities are provided for
 and all the Current Assets, Loans & Advances have a value on
 realisation, the value stated in Balance Sheet if realised in the
 ordinary course of business.