The company is dealing in real estate with its project “Ahura Ashish
 Complex” at Bordi.
 
 The Company could not make any progress on this project due to
 dispute between the Company and the Vendor. The matter is pending in
 the Court. The Directors are taking every possible necessary steps to
 protect the interest of the Company. As per the legal advice, the
 company is confident that out come of the said suit will be in favour
 of the company and the company will be able to recover its expenses on
 the project.
 
 The Company had filed two suits against the respective Vendor and
 Confirming Parties for specific performance of the agreements entered
 into with them for purchase of lands at Village Bordi, Taluka Dahanu.
 Both the suits have been partly decreed in favour of the company and
 Specific Performance of the agreements have been granted.
 
 Considering the facts and circumstances of the case, your Directors
 are confident of getting the appropriate orders and/or reliefs in the
 Company’s favour from the Court.