Note:

1. Reserve specifically represented by earmarked investments shall be termed as a 'fund'

2. Debit balance of P & L shall be shown as negative figure under surplus instead of presenting on the asset sid Pursuant to the provisions of Schedule -A to the Companies Act, 2013 effective from 1-4-2014 the company has reassessed the useful lives of its fixed assets. The revised useful lives as assessed by Management match with those specified in Part C of schedule II to the Companies Act -2013 for all the assets.

In case of assets whose useful lives have ended the carrying value as at 1-4-2014 amounting to Rs.1,39,068/- have been adjusted against the reserve as on 1-4-2014.

a. Although operations of the Company have totally ceased since March 2007 and entire plant and machinery and related electric installations disposed of, accounts have been prepared on a 'going concern' basis.

b. In view of the accumulated losses, no transfer has been made to the Capital Redemption Reserve in respect of Redeemable Preference Shares.

c. Revaluation

i. The Company had earlier revalued leasehold land, building, plant machinery and electrical installations of its erstwhile Carbon Black Unit (First Revaluation 30-9-1986) and also freehold land, building, plant and machinery and electrical installations of MEK Division at the estimated market value as on 30-9-1993 resulting in the net increase of Rs.2204.61 Lakhs which was transferred to revaluation Reserve. Relying on legal opinion, the Company had set off debit balance of Profit and Loss Account of Rs. 2094.75 Lakhs as on 30.09.1993 against the balance of revalued assets of Carbon Black Division as on 30.09.1986 and updated on 30.09.1993 and MEK Division as on 30.09.1993.

ii. The Company had further revalued buildings except a flat and above mentioned assets of MEK Division at estimated market value as on 31-3-1999. The net increase in the value of such assets amounted to Rs.2229.96 Lakhs which had been transferred to Revaluation Reserve Account. Relying on legal opinion, the Company had set off Rs. 1140.00 Lakhs being accumulated debit balance of Profit and Loss Account up to 30-09-1997 against Revaluation Reserve of Rs. 2229.96 lakhs created on 31-3-1999 as stated above.

d. No provision is made for interest payable on certain Inter-corporate Deposits. The quantum of such interest which may be payable is not determined at present as the Company is in negotiation with the lenders and the same shall be provided as and when finally crystallized.

e. Preference shares due for redemption as on April1, 2013 have not been redeemed and continue to be shown as preference share capital. Accumulated Dividend on Cumulative Preference Shares amounts to Rs. 104.92 lakhs (Previous Year Rs.96.32 lakhs).

f. i) In the opinion of the management, Current and Non-current Assets, Long Term and Short Term Loans and Advances are realizable at a value, in the ordinary course of business, which is at least equal to the amount at which these are stated, and provisions for all known and determined liabilities are adequate and not in excess of the amounts stated.

ii) The accounts of certain Trade Receivables, Trade Payables, Loans and Advances and Lenders are however subject to formal confirmations / reconciliations and consequent adjustments, if any. The management does not expect any material difference affecting the current year's financial statements on such reconciliation / confirmation.

i. Deferred Tax Asset/Liability - In absence of virtual certainty of sufficient future taxable income, as a matter of prudence, the Company has not accounted for cumulative net deferred tax assets for the year ended March. 31, 2015. j. Details of transactions with related parties as identified by the management in accordance with Accounting Standard -18 of the Companies Accounting Standard Rules, 2006 are as follows:

The following transactions were carried out with related parties (companies) in the ordinary course of business and at arm's length:

The Company has compiled the above information based on verbal confirmations from suppliers. As at the year end, no supplier has intimated the Company about its status as a Micro or Small Enterprise or its registration under the Micro, Small and Medium Enterprises Development Act, 2006. l. Physical verification of stocks of raw materials, finished goods and stores has not been done since no stocks are being carried.

Details of consumption (raw materials, stores and spares), capacity, stocks, imports and foreign exchange expenditure earnings not given as no production operations have been carried out in last four years.

g. After the resignation of the Company Secretary w.e.f. November 27, 2006, the Company continues to make concerted efforts to appoint a Company Secretary as required under Section 203 of the Companies Act,2013.

h. Previous year's figures have been reclassified / regrouped / rearranged wherever considered necessary.

i. No provision for Income Ta x is required to be made for the year under Minimum Alternate Tax (Section 115JB of the Income Tax Act,1961).

Note :

a) The above Cash Flow Statement has been prepared under the indirect method set out in Accounting Standard - 3 on "Cash Flow Statements" as prescribed under section 133 of the Companies Act read with Rule 7 of the Companies (Accounts) Rules, 2014.

b) Previous year figures have been regrouped / rearranged where necessary.