1.1. In the financial year 2007-2008 in accordance with the scheme of
 amalgamation 8,63,720 equity shares of Rs. 10/- each were allotted to the
 equity shareholders of the erstwhile SPL Polymers Ltd whose names
 appeared in the register of members as on August 5,2008 (record Date)
 without payment being received in cash.The equity shares were issued
 and allotted in the ratio of 1:6.
 
 1.2 In the financial year 2008-2009,The company bought back and
 extinguished 15,37,907 equity shares which has reduced the paid-up
 share capital of the company from Rs. 9837.65 Lacs to Rs. 9683.86 Lacs.
 
 1.3. The Company has only one class of shares referred to as equity
 shares having a par value Rs. 10/- per share.Each holder of equity shares
 is entiltled to one vote per share. The Company declares and pays
 dividends in Indian Rupees.The dividend proposed by the Board of
 Directors is subject to the approval of the shareholders in the ensuing
 Annual General Meeting,except in the case of interim dividend. As per
 the Companies Act, 1956, the holders of equity shares will be entitled
 to receive remaining assets of the Company,after distribution of all
 preferential amounts in the event of liquidation of the Company. The
 distribution will be in proportion to the number of equity shares held
 by the shareholdres.
 
 2.1 Rupee Term Loans amounting to Rs. 12,347.67 Lacs (Previous Year Rs.
 14,421.79) from Banks are secured by a first charge by way of mortgage
 of the Company''s immovable properties including Plant and Machinery
 and by hypothecation of movable assets (except trade receivables)
 subject to prior charge in favour of Company''s Bankers for working
 capital facilities.
 
 Working capital facilities (including letters of credit) from banks are
 secured by hypothecation of Company''s stocks and trade receivables
 and by second charge by way of mortgage of the Company''s Immovable
 properties including plant and machinery.
 
 A.  Leave Encashment
 
 The valuation of Leave Encashment has been done on exit as well as
 availment during the service. This liability forms part of other long
 term benefits as per the standard and does not require disclosures as
 mentioned in Para 132 of the standard.
 
 B.  Provident Fund
 
 The provident fund contribution is made to a trust administered by the
 company. In terms of the guidance note issued by the Institute of
 Actuaries of India,the actuary has provided a valuation of provident
 fund liability based on assumptions listed below and determined that
 there is no shortfall as at 30th June,2012.
 
 The assumptions used in determining the present value of obligation of
 interest rate guarantee under deterministic
 
 NOTE 2                                                      (Rs. Lacs) 
 
 Contingent liabilities not provided for in respect of :
 
                                                   Year             Year 
                                              2011-2012        2010-2011
 
 i) Estimated value of contracts remaining 
 to be executed on capital accounts and
 not provided for :                              397.14         1179.62
 
 ii) Letters of Credit opened by Bankers 
 and outstanding at the year end.              12910.33        14592.33
 
 iii) Bills discounted but not matured.         7527.52        11881.63
 
 iv) Counter guarantees given to Banks 
 against Banks'' guarantees to Customs/
 Sales Tax.                                      278.71          275.88
 
 v) Disputed Excise / Service Tax demand.       2228.06         4994.08
 
 vi) Disputed Sales Tax demand.                    0.88           99.56
 
 vii) Disputed Income Tax liability
 (matters under appeal)                          499.41          716.66
 
 viii) Other Claims.                              71.31           71.31
 
 NOTE 3
 
 In the opinion of the Board, the current assets, loans and advances are
 approximately of the value stated, if realised in the ordinary course
 of business. The provisions for all the known liabilities and
 depreciation are adequate and not in excess of the amount reasonably
 required.
 
 NOTE 4
 
 In absence of any intimation received from vendors regarding the status
 of their registration under The Micro, Small and Medium Enterprises
 Development Act, 2006'''' the Company is unable to comply with the
 disclosures required to be made under said Act. There are no amounts
 payable to any Small Scale Industrial Undertaking.
 
 NOTE 5
 
 a] Prior period adjustments include expenses Rs. 8.09 Lacs, (Previous
 year NIL) and income Rs. NIL (Previous year Rs. 6.63 Lacs).  
 
 NOTE 6
 
 Trade Receivables/ Trade payables balances are subject to confirmation.
 
 NOTE 7
 
 Previous year''s figures have been reworked, regrouped, rearranged and
 reclassified, wherever necessary, consequent to Revised Schedule VI
 under the Companies Act, 1956.