1.1 Terms/rights attached to shares
 
 The company has one class of equity shares having a par value of Rs.
 10/- each. Each shareholder is eligible for one vote per share held, in
 the event of liquidation the equity share holders are eligible to
 receive remaining assets of the company after distribution of all
 preferential amount in proportion to their shareholding.  
 
 2. Contingent liability not provided for in respects of disputed Income
 Tax demand for the Assessment Year 1991-92 and 1997-98 which the
 Department has preferred an appeal with the Tribunal/High Court
 Rs.4565969 (P.Y. Rs. 4565969). Rs.5,16,523/- has been deposited for the
 assessment year 1991-92 against the appeal filed for the said
 assessment year with Income-tax Tribunal and it has been shown under
 the head Advance Income- tax. and TDS
 
 The related party information is as identified by the management based
 on the information available and relied upon by the auditors.
 
 3.  The company has given an undertaking to vacuous Financial
 Institutions not to transfer, assign, pledge, hypothecate or otherwise
 dispose off in any manners its investments in equity shares in LML
 Limited without prior approval of the Institutions so long as the
 advances to LML Limited by Institutions remain outstanding.
 
 4.  Pursuant to amendments in RBI Act, 1934, the Company had applied
 for registration under the new scheme with RBI. In response to the
 application. RBI has vide letter No.DNBS (MRO).No.4223/02.04
 Regn./97-98 dated April 24, 1998, precluded the
 company from accepting or renewing any fresh public deposits. The NOF
 as on March 31, 2012 is more than the minimum stipulated limit of Rs.
 25 lakhs. Pending any further communication from RBI, the Company
 continues to carry on its existing business activities and it has not
 accepted any public deposits.
 
 5.  The outstanding balances as at March 31, 2012 in respect of some
 of the Payables.  Loans and Advances are subject to confirmation from
 the respective parties and consequential reconciliation / adjustments
 arising there from, if any. The management, however, does not expect
 any material variation.
 
 6.  In the opinion of the Board, the value of realization of Current
 Assets, Loans & Advances in the ordinary course of business would not
 be less than the amount at which they are stated in the Balance Sheet
 and the provision for known and determined liabilities is adequate and
 not in excess if amount reasonably required.
 
 7.  In view of time limitations on carry forward losses and as a
 matter of prudence deferred tax assets arising on account of brought
 forward losses/unabsorbed depreciation under tax laws and provision for
 diminution in the value of long term investments has not been
 recognized,
 
 8.  The company operates only in one segment i.e. Investment & Finance
 Activities and therefore no separate segment wise detail is given as
 required by Accounting Standard -
 
 9. ''Segment Reporting'' issued by the Institute of Chartered
 Accountants of India.
 
 10.  Additional information pursuant to Part II of Schedule VI of the
 Companies Act, 1956 are not applicable to the company.
 
 11.  There are no dues to Micro and Small Enterprises. This information
 as required to be disclosed under the Micro. Small and Medium
 Enterprises Development Act, 2006 has been determined to the extent
 such parties have been identified on the basis of information available
 with the Company.
 
 12.  For the year ended March 31, 2012 the Revised Schedule VI notified
 under the Companies Act 1956 has become appraisable for preparation and
 presentation of financial statements. The preparation of financial
 statements based on the Revised Schedule VI does not impact the
 recognition and measurement principles followed for preparation of the
 financial statements. However it has significant impact on the
 presentation and disclosures made in the financial statements. However,
 it has required / reclassified (he previous year figure in accordance
 with the requirement applicable in the current year.