1.  The company did not have a whole time company secretary and hence
 the accounts have been signed by Chairman & two Directors.
 
 2.  Gratuity & Leave Encashment : As informed by the directors the
 Company accounts liability towards leave encashment on Realisation/
 Payment basis. The company has made provision for Gratuity in
 compliance of AS -15
 
 3.  Contingent liability not provided in respect of:
 
 a) Income Tax Assessment orders have been received upto A.Y : 2008-09
 and refund orders have been received for these years
 
 4 Segment Accounting :
 
 The company''s operation predominantly relate to single segment namely
 Diamonds and is primary basis for segmental information. Since the
 Company operates in a single business, Segment wise Reporting as defined
 in AS-17 of ICAI is not applicable.
 
 5 There are no. subsidiary companies to Company. The company has not
 obtained any economic benefits from its activities with the associate
 Companies/firms hence provisions of AS-21 issued by I.C.A.I, are not
 applicable in current year.