A CORPORATE INFORMATION
 
 Vallabh Poly Plast International Limited (''VPPIL''), ''the Company'' was
 originally incorporated on April 1,1989 as a Partnership Firm, bearing
 the name Vallabh Poly-Plast. The said firm was reconstituted thrice on
 January 27,1993, April 2,1993 and July 14,1993. Thereafter, on October
 7, 1994, it was converted into a Private Limited Company. On December
 1,1994, the Company was converted to a Public Limited Company. The
 Company was engaged in manufacturing of Plastic Plain / Printed Bags,
 Rolls, Garbage and Zhabala Bags etc till 2008, thereafter it is now
 carrying on the business of commission, brokerage and packaging
 services. The company has its registered office at 194, Jawahar Nagar,
 Road No. 3, Goregaon (West), Mumbai-400 062.
 
 1.1 As per the resolution passed on 23rd February, 2010 in the Extra
 Ordinary General Meeting, authorised share capital was increased from Rs.
 5 crores to Rs. 25 crores. However relevant forms have not been submitted
 with Registrar of Companies. As such company is liable to pay about Rs.
 22.56 lacs on account of stamp duty, filing fees and additional fees
 etc. as on reporting date.
 
 1.2 The Company has, at present, one class of issued, subscribed and
 paid up share referred to as equity shares having a par value ofRs. 10/-
 each. Each holder of equity share is entitled to one vote per share.
 
 2 TRADE PAYABLES:
 
 There is no amount due and payable to ''Suppliers'' registered under the
 Micro, Small and Medium Enterprises Development Act, 2006 at the end of
 the year. No interest has been paid/ is payable by the Company
 during/for the year to these ''Suppliers''. The above information takes
 into account only those suppliers who have submitted their registration
 details or has responded to the inquiries made by the Company for this
 purpose.
 
 3 In the opinion of the Board, the assets of the company have a value
 on realization in the ordinary course of business atleast equal to the
 amount at which they are stated.
 
 4 The Company''s Income tax assessment has been completed up to
 assessment year 2009-10 as per the return of income filed by the
 Company.
 
 5 The main business of the Company is plastic layflat tubing / bags
 and accordingly there are no separate reportable segment and as such
 there are no separate reportable segments as specified in Accounting
 Standard (AS 17) on Segment Reporting. The company caters mainly to
 the needs of the domestic market and the export turnover is nil having
 regard to the total turnover. As such there are no reportable
 geographical segments.
 
 6 Figures for the previous year have been regrouped, rearranged and
 reclassified wherever necessary. Accordingly, amounts and other
 disclosure for the previous year are included as an integral part of
 the current year''s financial statement and are to be read in relation
 to the amounts and other disclosures relating to the current year.