1. Loans and Advances
 
 Loans and Advances includes Rs.2,71,84,404/- which is unsecured,
 outstanding for more than 2 years. In our opinion, it requies 100%
 provision.
 
 I. Auditors Remuneration
 Audit Fee                                    10,000      5,000
 
 2. No provision for taxation has been made under the Income Tax act due
 to losses incurred during the year.
 
 3. Deferred Tax
 
 Applicability of Deferred tax provision for this year has not been
 considered, since here is no fixed asset and unabsorbed depreciation
 and carry forward toss.
 
 4. List of related parties and nature of their relationship
 
 NAME                                             NATURE OF RELATIONSHIP
 
 1. V.C. Jain Chairman                          Key Management Personnel
 
 2. Vijay Shanthi Education Trust                       Associate Comany
 
 3. Vijay Shanthi Builders Limited                     Associate Company
 
 4. Vijay Shanthi Builders (Partnership firm)          Associate Company
 
 5. Vivekananda Cements Ltd.                           Associate Company
 
 6. Sri Shanthi Constructions Co.                      Associate Company
 
 M. Related Party Transactions as per Accounting Standard 18
 
 Nature of Transactions    Associate Companies        Key Personnel
 
 Purchase of land                 12535000                  Nil
 
 N. Segment wise Revenue, Results and Capital employed Under Clause 41
 of the Listing Agreement
 
 The Company during the year has no different segments of business
 activities. Hence, segment wise reporting regarding revenue, segment
 results, capital employed is not recognized. The reported revenue,
 results, capital employed pertains to single segment.
 
 5. Previous years figures have been regrouped, wherever necessary to
 confirm this years classification.
 
 for V.Ramaratnam & Co.        Chandan Parmar              Chandan Kumar
 Chartered Accountants               Chairman                   Director
 R.Sunder                        Suresh Kumar               Naresh Kumar
 Partner                             Director                   Director
 Place: Chennai                                         K.V. Viswanathan
 Date: 30.6.03                                         Company Secretary