1. Share Capital
 
 (d) Rights of Shareholders, Dividend and Repayment of Capital:
 
 i) Holder of equity shares is entitled to one vote per share.
 
 ii) The company declares and pays dividend in Indian rupees.The
 companies Act, 1956 provides that any dividend be declared out of 
 accumulated distributed profits only after transfer to general 
 reserve of a special percentage of net profit computed in accordance 
 with current regulations.
 
 iii) In the event of liquidation of the company, holder of the shares
 shall be entitled to receive any of the remaining assets of the
 company, after distribution of all preferential amounts.The amount
 distributed will be in proportion to number of equity shares held by
 shareholders.
 
 2.  Contingent Liabilities Rs. Nil (Previous Year Rs. Nil)
 
 3.  Capital Commitment:
 
 Estimated amount of contracts remaining to be executed on capital
 account and not provided for are Rs. Nil (Previous Year Rs. Nil)
 
 4.  The company has discontinued manufacturing of paper and paper
 board and has continued the activity of assembling of pollution control
 equipments.  The company has also carried out trading activity and
 leasing assets on rent.  The Company''s net worth is negative as on
 March 31, 2012. The management is hopeful of making the net worth
 positive from out of the surplus that may be generated from present
 activities and also by bringing required funds to finance losses. Now
 having regard to these the accounts are prepared on going concern.
 
 5.  In the opinion of the Board, the current assets, loans and
 advances are approximately of the value stated, if realized in the
 ordinary course of business, provision for depreciation and all known
 liabilities is adequate and not in excess of the amount reasonably
 necessary.
 
 6. a) Balance of Trade Payables, Trade Deposits, Advance from
 Customers, Trade Receivables, Non Current and Current Loans & Advances
 are subject to confirmation by the parties.
 
 b) There are no Micro, Small and Medium Enterprises, to whom the
 Company owes dues, which are outstanding for more than 45 days at the
 Balance Sheet date. The Micro, Small and Medium Enterprises have been
 identified on the basis of information available with the Company. This
 has been relied upon by the auditors.
 
 7.  The Company has setup Gratuity Fund for future payment of
 retirement gratuities of employees. The company has not ascertained the
 amount of accrued liability on the basis of actuarial valuation and has
 not made any contribution to gratuity fund.
 
 8.  Disclosure for operating leases under Accounting Standard 19 -
 Leases
 
 (i) The company has significant operating leases for premises. These
 lease arrangements range for a period between 11 months and 3 years
 which includes cancellable leases. Most of leases are renewable for
 further period on mutually agreeable terms and also include escalation
 clauses.
 
 (ii) Lease income are recognized to Profit and Loss Account under Rent
 received for Rs. 67,64,796/- (P.Y. Rs.22,22,000/-). Operating Lease
 payments are recognised in Statement of Profit and Loss for Rs.
 30,000/- (P.Y. Rs.30,000/-).
 
 9.  Expenditure in foreign currency during the year on account of
 Travelling expenses Rs. 33,809 (Previous Year Rs. NIL )
 
 10.  OF Value of Imports of Raw Materials for Paper Division Rs.NIL
 Lacs and Import of Felt, Wire Cloth . Stores Rs.NIL Lacs (Previous Year
 Rs. NIL Lacs)
 
 11.  Remittance in Foreign Currency on account of Dividend Rs. NIL
 (Previous Year Rs. NIL)
 
 12.  Earnings in foreign exchange on account of Exports Rs. NIL
 (Previous Year Rs.  NIL)
 
 13.  Related party disclosures:
 
 I.  LIST OF RELATED PARTIES:
 
    A) Key Management Personnel:
 
     a) Shri Manoj R. Patel    :   Managing Director
 
     b) Shri Rajeev R. Patel   :   Whole time Director
 
     c) Smt. Laxmiben J. Patel :   Director
 
 B) Other Related Parties:
 
     a) M/S Polycone Paper Limited      : Associate Company
  
     b) Laj Investments Private Limited : Associate Company
 
 14. In view of the uncertainty of availment of tax benefit on
 accumulated business losses and unabsorbed depreciation, the company
 has not considered any deferred tax assets as required to be disclosed
 under Accounting Standard 22 Accounting for Taxes on Income
 
 15.  Company has closed down engineering division during the year
 2011-12.  However the required information as per Accounting Standard -
 24 have not been disclosed.
 
 16.  The financial statements for the year ended March 31, 2011 had
 been prepared as per the then applicable, pre-revised schedule VI to
 the Companies Act, 1956.Consequent to the notification of Revised
 Schedule VI under the Companies Act, 1956, financial statements for the
 year ended March 31, 2012 are prepared as per Revised Schedule VI.
 Accordingly, the previous figures have been reclassified to conform to
 this year''s classification.  The adoption of Revised Schedule VI for
 the previous year figures does not impact recognition and measurement
 principles followed for preparation of financial statements.