The company has equity shares having a face value of Rs. 10 per share and preference share of Rs. 10 per share. Each equity share holder is entitled to one vote per share.

In the event of liquidation of the company , the holders of equity shares will be entitled to receive the remaining assets of the company, after distribution of all preferential amounts and after payment to Preference Share Capital.

2. Prior Period Items

During the year company has reversed the excess provision of tax made in the last year amounting Rs. 74049

3. Amount to be transferred to Investors Education and Protection Fund u/s 205A/ 205C of Companies Act, 1956:-

(a) Unpaid dividend of Rs.204428/-

(b) Unpaid application of Rs. 82646/-

The above amounts are pending since long time.

4. The Debit and credit balances of Sundry Creditors, Sundry Debtors and Advances are subject to confirmation and reconciliation and are relied upon book balances and as certified by the management.

5. a) Overdue amount payable to SSI & Ancillary undertaking could not be ascertained as the necessary details are not available with the company as stated by the company.

b) In absence of details provided by the company, it is difficult to provide information that there are dues for more than 45 days to the Micro, Small & Medium enterprises as defined under MSMED Act, 2006.

6. Previous year figures are regrouped and rearranged wherever necessary.

7. Segment Reporting:

As the Company's business activities fall majority within a single primary segment viz. "Manufacturing of LED", the disclosure requirements of Accounting Standard - 17 "Segment Reporting" are not applicable.

8. Related party transaction:

The Company has identified all related parties and details of transaction are given below:-

i) Subsidiary of the Company : None

ii) Key Management personnel:

a) Dharam Pal Gupta

b) Anup Gupta

c) RatanLalRawat

d) Mata Deen Sharma (Resigned during the FY 2014-15)

e) Shailendra Kumar

f) Anubha Gupta

g) Abhishek Gupta (Appointed during the FY 2014-15 w.e.f. 01.11.2014)

h) Praveen Kumawat

iii) Companies having Relatives of key Management personnel with whom transaction have taken place:

a) Autopal Distribution Pvt. Ltd.

b) Autolite India Ltd.

iv) Concerns having same managerial persons:

a) Man Radio & Electricals Pvt. Ltd.

b) GK-Autopal Lighting Solutions LLP

c) Win ProInfolink Pvt. Ltd.

9. Contingent Liability

Liability for ESI payable of Rs.4.38 Lacs.(Previous Year Rs. 4.38 Lacs)

10. Extra Ordinary Items

The Company has written off certain old outstanding dues from debtors that arise from transactions that are clearly distinct from ordinary activities, AS-5 "Net profit or loss for the period, prior period items and change in accounting policies ", therefore the company has disclosed such expenses of Rs 8,78,051/- separately in profit and loss account during the year 14-15. (Previous Year Rs. 40,18,177)

11. Expenditure in foreign currency

Expenditure incurred in foreign currency for: Travelling Expenses Rs. 93,190/- Purchase of Imported Material Rs. 91,69,283/- (Previous Year Rs. 55,17,896) Purchase of Traded goods Rs. 3,32,25,833/- Purchase of Plant & Machinery components Rs. 2,24,831/-

12. Effect of Hon'ble Board for Industrial and Financial Reconstruction (BIFR) order on the Books of accounts.

During the year w.e.f. 22th August 2014 the company is ceased to be a sick industrial company within the meaning of section 3(1) (o) of SICA, 1985 and therefore it is discharged from the purview of SICA. However, the unimplemented provisions of the sanctioned scheme, if any shall continue to be implemented by the company.

(i) In Compliance of order company has written off to the extent of 75%of old dues of sundry creditors andbalance 25% has to be paid in 1/5 annual installment. In compliance of the same the company has made payment in full to some of the creditors who have nominal amount and 1/5th paymenthas been made during the year through employee to rest of the creditors in compliance of BIFR orderas reported by the company.

(ii) Fixed Deposits from public amounting Rs. 95,725/- is outstanding as at the beginning of the year out of which no payment has been made during the year.

(iii) Interest Payable on Public Deposit amounting to Rs. 1,28,683/- is outstanding in the opening out of which no payment has been made during the year.

Hence, as stated by the management company has not complied with the last 2 terms and condition of BIFR Scheme. However company will finally pay this outstanding amount till March 2016 as per BIFR order.

The same is due to the estimate considered by the management of the company considering absence of reasonable certainty in the near future that the same will be reversed.

13. Depreciation on fixed assets is provided to the extent of Depreciable amount on straight-line method. Depreciation is provided based on useful life of the assets as prescribed in Schedule II to the Companies Act, 2013.Salvage Value of the assets has been taken @5% of Original Cost as prescribed in Schedule II except Building @20% and Car @ 20% .The written down value of Fixed assets whose lives have expired as at 01st April 2014 have been adjusted in the opening balance of Reserves and Surplus amounting to Rs. 38,01,023.