i) CONTINGENT LIABILITIES AND COMMITMENTS :
 
 (a) CONTINGENT LIABILITIES: NIL (NIL)
 
 (b) COMMITMENTS :           Estimated amount of contracts remaining
                             to be executed and not provided fori n
                             respect of capital purchases (Net of
                             Advance) Rs. 14,27,591/- (Rs. NIL)
 
 ii) The Revised Schedule VI has become effective from 1st April, 2011
 for the preparation of financial statements. This has significantly
 impacted the disclosure and presentation made in the financial
 statements. Previous Years'' figures have been regrouped/reclassified
 wherever necessary to correspond with the current year''s
 classification/disclosure.
 
 iii) In the opinion of the Board, Current Assets, Loans and Advances
 are approximately of the value stated if realized in the ordinary
 course of business and provision for all known liabilities is adequate.
 
 iv) No interest is payable on account of amount outstanding to Micro
 and small Enterprises. The identification of vendor as a Supplier
 under the Micro, Small and Medium Enterprise Development Act, 2006 has
 been done on the basis of information available with the company. This
 has been relied upon by the Auditors.
 
 v) Company''s operations comprise of only one segment i.e. 
 manufacturing of man made fibres in terms of the guidelines stated in
 AS-17 issued by the Institute of Chartered Accountants of India.
 
 vi) The Company has deposited MOT charges of t 1,41,625/- {I
 101260/-)with Excise Authority Under Protest, hence the same is not
 Accounted as expense.
 
 vii) a) Defined Contribution Plan - Provident Fund :
 
 During the year,the company has recognized the Company''s Contribution
 to Employees Provident Fund amounting to Rs. 776422/- (Rs. 751405/-) as
 part of Remuneration and other benefits to the employees.
 
 b) Defined Benefit Plan
 
 The benefit of gratuity is Funded Defined Benefit Plan. For this
 purpose the company has obtained qualifying insurance policy from Life
 Insurance Corporation of India.
 
 The company provides benefits to its employees under the leave
 encashment pay plan which is a non contributory defined benefit plan.
 
 viii) The following table sets out the funded status of the gratuity plan
 and unfunded status of leave encashment plan. The amount recognized in
 the company''s financial statement as at 31st March, 2012.