Note 1 Contingent Liabilities :                (Figures in Rs. Lakhs)
 
 Contingent liabilities and 
 commitments                                 As at            As at
 
 (to the extent not provided for)        31 March 2012    31 March 2011
 
 (a) Dividend on Preference Shares           31.40                -
 
 (b)Bank Guarantees                          14.57             14.57
       
 Total                                       45.97             14.57
 
 Note 2 Deferred Tax :
 
 The company has accounted for deferred tax in accordance with the
 Accounting Standard 22 Accounting for Taxes on Income issued by
 the Institute of Chartered Accountants of India. Major components of
 Deferred tax assets and liabilities arising on account of timing
 differences as on 31 March, 2012:
 
 Note 3 Disclosures pursuant to Accounting Standard-15 Employee
 Benefit :
 
 The Company has provided for Gratuity based on actuarial valuation on
 the basis of projected unit credit method. The following table
 summarize the components of the net benefit recognized in the profit
 and loss account and amounts recognized in the Balance Sheet.
 
 Note 4 Segment Reporting :
 
 The Company is engaged in the business of manufacturing of Yarn and all
 other activities of the company revolve around the main business and
 the Company operates in a single geography i.e. India. As per the
 opinion of the management, disclosure of segment information as
 prescribed in the Accounting Standard 17 (AS 17) Segment
 Reporting issued by the Institute of Chartered Accountants of India
 is not applicable
 
 Note 5 Significant Accounting Policies and Practices adopted by the
 Company are disclosed in the statement annexed to these financial
 statements as Admixture I.