1. No provision for Gratuity has been made as no employees has put in
the qualifying period of service for entitlement of this benefit under the payment of Gratuity Act, 1972.
2. There are no payments over due to small scale industries units.
3. In the opinion of Management all the Current Assets, Loans and Advances are realisable at the value in
the ordinary course of business at which they are stated in the forgoing balance sheet.
4. Debit and Credit balances of parties are subject to confirmation.
5. Advances includes a sum of Rs. 20000/- given as membership fee of
Director to M/s Majestic Hotel Limited for which the Company has already asked M/s Majestic Hotel Limited to
refund the amount. The refund is still awaited.
6. Cash and Bank Balance, under the head Current Assets and loans and Advances in the Balance Sheet.
Include amount of Rs. 2,69,000 being cash seized by the Income Tax Deptt. belonging to the company.
7. Sigma Gold Cement Works is a new unit proposed by the company to
be established by its company at near Ropar (Pb). The amount represent the advance made by the company to
various persons for land and other expenses incurred on that project till date. Certain parts of its land
has already been registered in the name of the Company.