1. CONTINGENT LIABILITIES
 
 Contingent liabilities have not been provided for. The same will be met
 as and when they arise.
 
 2.  CONTINGENT LIABILITIES
 
 Contingent liabilities have not been provided for. The same will be met
 as and when they arise.
 
 3.  SALES
 
 Net sales include sale of products manufactured exclusive of Excise
 Duty and Sales/VAT Tax charged to customers. It comprises of direct
 sales and consignment Sales 
 
 4.  As required by MSME Development Act 2006, the dues outstanding for
 more than 45 days to Micro, Small and Medium Enterprises are given
 below:-
 
 Jaya Enterprises             Rs. 3,24,388/-
       
 Venkateswara Minerals        Rs. 2,64,676/-
 
 Bengal Polysacks             Rs. 4,71,099/-
 
 Sri Lakshmi Paper Products   Rs. 1,49,348/-
 
 The Company has not received from its vendors/ suppliers about their
 status under the MSME Development Act 2006 and hence disclosing the
 amounts unpaid as at the end of the year.
 
 5.  Sundry Debtors, Creditors, Unsecured Loans and Loans and Advances
 are subject to confirmation and reconciliation and are stated at the
 book balance thereof. Similarly, the balance of Share Application money
 with Vysya Bank is subject to confirmation and reconciliation.
 
 6.  TAXATION
 
 The company has no liability towards income tax, due to its accumulated
 losses.
 
 Deferred tax Liability is recognized on timing differences of
 depreciation between Income Tax and Books of Accounts. The benefit of
 carry forward losses permissible, which company is certain to realize
 with future profit is arrived as Deferred Tax Asset. The Net of DTA and
 DTL is recognized in the financial statement.
 
 7. SEGMENT REPORTING
 
 The Company manufactures and sells only one product, namely writing and
 printing papers. The company finds no risks involved in the revenue and
 expenses of the transaction.
 
 8.  Previous year figures have been regrouped / rearranged wherever
 necessary to confirm to'' this year''s classification / comparison.