a) There has been a diminution of Rs. 3,53,000/- in the value of long term investments held by the Company as at 31st March, 2014. No provision against the same has been considered necessary since in the opinion of management such diminution is of temporary in nature.

Note 2.

a) Total present liability for future payment of gratuity as on 31st March, 2014 is neither provided nor actuarially determined. This liability will be dealt with on cash basis which is not in accordance with Accounting Standard (AS) 15- 'Employee Benefit' issued by the Institute of Chartered Accountants of India.

b) Leave encashment liability, if any, has not been determined, presently, and would be charged when paid. This liability will be dealt with on cash basis which is not in accordance with Accounting Standard (AS) 15- 'Employee Benefit' issued by the Institute of Chartered Accountants of India.

Note 3.

During the year the Company has accounted for deferred tax in accordance with the Accounting Standard 22 -"Accounting for Taxes on Income" issued by the Institute of Chartered Accountings of India.

Note 4.

Trade receivables amounting to Rs. 395,61,66,909/- is outstanding for more than three years and the management classifies these debts fully recoverable and Good and accordingly accordingly does not consider it necessary to make any provision.

Note. 5.

LEASE:

The Company has entered into a lease agreement for use of sales counter space along with all the other amenities, which is in the nature of operating lease. As per the terms of the agreement, the period of lease ranges from 11 months to 3 years and the same is further renewable for such period as may be mutually agreed by the lessor and the lessee. The leases can be terminated by either party by giving one month notice as per terms of agreement.

Note. 6.

The management based on their review of assets and operation of the Company has determined that there is no indication of potential impairment and that the recoverable amount of any of its fixed assets is not lower than its carrying amount. Accordingly no provision for impairment is required as at 31 March 2014.

Note 7.

In the absence of the Company Secretary, these financial statements have not been authenticated by a whole time Company Secretary under Section 215 of Companies Act, 1956.

Note 8.

As required by the Notification No. GSR 129(F) dated 22nd February, 1999 issued by the Department of Company Affairs, Ministry of Law, Justice and Company Affairs there are no small scale undertakings to which the Company owes sum which is outstanding for more than 30 days. This information has been determined on the basis of information available with the Company. This has been relied upon by the auditors.

Suppliers/Service providers covered under Micro, Small Medium Enterprises Development Act 2006, have not furnished the information regarding filing of necessary memorandum with the appropriate authority. In view of this, information required to be disclosed u/s 22 of the said Act is not given.

Note 9.

In the opinion of the Board, current assets, loans and advances are approximately of the value stated, if realised in the ordinary course of business and provisions for all the known liabilities and depreciation are adequate and not in excess of the amount reasonably necessary.

Note 10.

Previous year's figures have been regrouped or rearranged, wherever considered necessary to conform to current year's presentation. Figures in bracket are in respect of previous year.

Note 11.

Balances of debtors, loans and advances and creditors are subject to Confirmation.