2010-2011   2009-2010
 
 1.  Contingent liabilities not provided for
 
 i) Claims against company not                         Nil         Nil
 acknowledged as debts.
 
 ii) Income Tax demands                          14,80,559   16,66,629
 disputed in appeal.
 
 iii) Letters of credit issued by banks                Nil         Nil
 in favour of suppliers
 
 2.  The company has generally followed the accounting standards
 prescribed by the Institute of Chartered
 
 Accountants of India.
 
 3.  RELATED PARTY TRANSACTION
 
 3.1 List of related party
 
 3.1.1 Parties where control exists
 
 Deacon Infrastructures Pvt.Ltd.
 
 3.1.2 Other parties with whom the Company has entered in to transaction
 during the year
 
 a) Associates and Joint Ventures/ Partnership Firm :
 
 Model Activity
 
 Shri Rachana Construction
 
 Shri Balaji Enterprises
 
 Agro Farms
 
 Khushal Farms
 
 Pooja Farms
 
 Sky Farms
 
 b) Key Management Personnel :
 
 Thakker Jitendra M.  Thakker Rajendra M.  Thakker Narendra M.
 
 c) Enterprises in which Key Management Personnel have significant
 influence :
 
 Abhijit Marketing Pvt.Ltd.  Abhilasha Horti. Pvt.Ltd.  Abhishek Kutir
 Nirman Pvt.Ltd.  Arundhati Marketing Pvt. Ltd.  Asian Food Products
 Ltd.  Ashish agriculture Pvt.Ltd.  Dattatray Marketing Pvt.Ltd.
 Devprit Marketing Pvt. Ltd.  Hemangini Marketing Pvt.Ltd.  Jay-Jeet
 Marketing Pvt.Ltd.  Jasmin Marketing Pvt.Ltd.  Jeet Agriculture
 Pvt.Ltd.
 
 Legend Pharmaceuticals Pvt.Ltd.  M.R.Thakker & Co.Const.Pvt.Ltd.
 Nashik Marketing Pvt.Ltd.  Panchavati Horticulture Pvt.Ltd.  Rajendra
 M.Dev. & Build. Pvt. Ltd.  Ramleela Marketing Pvt.Ltd.  Shivprit
 Marketing Pvt.Ltd.  Shubhakamana Build. Pvt. Ltd.  Surbhi Horticulture
 Pvt.Ltd.  Thakkers Housing Pvt. Ltd.  Vichal Enterprises Pvt.Ltd.
 Yashodeep Marketing Pvt.Ltd.
 
 d) Director''s and their relatives :
 
 Batavia Chetan G.  Batavia Pallavi C.  Thakker Abhishek N.  Thakker
 Amit K.  Thakker Asha Jaman Thakker Bharati J.  Thakker Gaurav J.
 Thakker HetalN.  Thakker Jyoti N.  Thakker Giridharlal H.  Thakker
 Karishma G.
 
 Thakker Manjulaben M.  Thakker Manohardas R.  Thakker M.R.(HUF) Thakker
 N.M.(HUF) Thakker Nishant R.  Thakker Pooja R.  Thakker Poonam R.
 Thakker R.M.(HUF) Thakker Saroj G.  Thakker Savitaben H.
 
 4. The Company has not made provision for disputed Income Tax
 liabilities amounting to Rs.14,80,559/- on the basis of management
 perception this liabilities will not be materialized.
 
 5. The Company is engaged in construction and estate dealing activity
 and as such in view of management it is not possible to give additional information as required by para 3(i)
(a), 3(ii) (d), and 4C of Part II 
 of Schedule VI of Companies Act,1956.
 
 6. Borrowing costs for the year are in relation to working capital,
 not specificaly attributable to any project.  Hence, the same are
 charged to the Profit & Loss A/c, as period cost.
 
 7. No provision has been made for penal interest, if any, (amount
 unascertainable) payable as per agreements for delayed payment to Land
 Vendors. The same will be accounted as and when claimed, ascertained
 and settled.
 
 8.  From the records available with the company, the amount
 outstanding to small and micro industrial under takings for more than
 Rs. 1.00 lakh for a period exceeding 30 days is not ascertainable.
 
 9. In the opinion of Board, the current assets if realised in ordinary
 course of business will be at least of the value stated in the Balance
 Sheet. Provisions for all known liabilites are made in the accounts and
 are not in excess of amount considered necessary.
 
 10. Debtors and Creditors are subject to confirmation.
 
 11.  Previous year''s figures have been regrouped/recasted wherever
 considered necessary to confirm with current year''s presentations of
 Accounts.