Ib) Custom duty saved on Machinery imported against advance license scheme as on 31st March, 2014 and 31st March, 2013 is 2136.31 lacs and Rs 2136.31 lacs respectively. The management is of the view that the necessary Compliance will be adhere to.

II) Company has provided Rs. NIL ( last year Rs 2.48 lacs ) as liability on account of Anti Dumping Duty for the period 1-4-2013 to 31-3-2014 on the basis of last assessment. Difference, if any, will be accounted for at the time of final assessment for the period.

III) Under the provisions of Accounting Standard-18 Issued by the Institute of Chartered Accounts of India following information is disclosed: Particulars of Transactions

V) Deferred Tax Liability

Accounting for Taxes on Income - Disclosure as per AS 22: Major components of deferred tax assets and liabilities on account of timing differences are as follows:

The company follows Accounting Standard -22 "Accounting for Taxes on Income" issued by the Institute of Chartered Accountants of India. Since there is no convincing evidence which demonstrates virtual certainty of realization of deferred tax assets, the company has prudently decided not to recognise deferred tax asset.

VII) SEGMENT INFORMATION

Company deals in one product i.e. export of canned mushroom. As such Board is of the opinion that no disclosure is required as per accounting standard 17.

Note : Write off on account of Apeda Transport Subsidy is due to rejection of claim by the

respective agencies. As regards expense on Freight and others on recall refer point XV below.

IX) Valuation of Work-in-Process & Finished Goods being a technical matter has been taken as certified by the Management and Cost Accountant.

X) As per notification of APEDA, the Company is entitled to transport Subsidy in respect of freight on Exports made during the year. The estimated value of Subsidy works out to NIL ( previous year Rs 17.30 lacs ) for the year 2013-14. The same amount has been considered in the Profit & Loss account against the Ocean Freight.

Company is also entitled for C.S.T reimbursement and Duty drawback on H.S.D under the EXIM Policy. During the year company paid Rs. 2.71 Lacs (Previous year Rs. 33.35 Lacs) as C.S.T. The amount has been taken under the head advance since the whole amount is reimbursable under the above policy. Duty drawback for NIL (previous year Rs 4.24 Lacs) on Diesel has been adjusted against consumption of diesel.

XI) On the basis of information available with the Company, regarding the status of suppliers as defined under the "Micro Small and Medium Enterprises Development Act 2006", total dues to suppliers as at 31st March 2014 amounts to Rs. 74,09,527/- (Previous Year : Rs. 78,93,830/-)

Further as per information available the company has not provided any interest on overdues amount during the period/close of the year as required under the Act.

XII) In the opinion of the Board Current Assets, Loans & Advances are approximately of the value stated which if realized in the ordinary course of business except stated otherwise. The provisions for all the known liability are adequate.

XIII) Comissioning of Can making plant at chennai is getting delayed due to final integration of the unit, which is pending due to liquidity problem being faced by the Company.

XIV) The Company is continously incurring substantial losses and its net worth has been fully eroded. The entire Loan accounts of the Company has become Non Performing/recalled/doubtfull and has been accordingly been shown under the head 'Current Liabilities' .

Subsequent upon erosion of entire net worth, The Company filed fresh reference to the BIFR. The same has been registered vide case no. 75/2013

The Secured Consortium Lenders have issued notice under section-13(2) of SARFESI ACT,2002. The Company has suitably replied the same.

The Secured Lenders have decided to sell surplus and non core assets through Asset Sale Committee & UBI Consortium.

The company expect the liquidation of the Secured Term Debts by way of disposing the said non core and surplus assets. Further the activity of the company shall continue with the remaining assets as going concern.

Taking into account the above facts, the financial statements have been prepared on the basis that the company is a going concern and that no adjustments are required to the carrying value of assets and liabilities.

XV) The Operations of the Company continued to be adversely affected due to presence of some traces of Carbendazim in Shipments of Canned Mushrooms to US. The said development has resulted into reduced level of production. The freight forwarder agency has served a legal notice of Rs. 3.75 Crores, which is towards inward and outward freight and also includes an amount of Rs. 1.55 Crores towards detention and demurrage charges. The Company has not made any provision towards that detention and demurrage as the said claim is not tenable as per the legal opinion obtained by the company.

XVI) As per the financial restructuring scheme approved by the CDR - EG, there is no provision relating to penal interest and other charges. As such the company has not made any provision on that account .More over since the company is approaching BIFR , it is hopeful of suitable package which will result in reduction

XVII) DISCLOUSERS IN ACCORDANCE WITH REVISED AS-15 ON "EMPLOYEEES BENEFITS"

a) Defined Contribution Plan:-

The Company has recognized the following amounts in the Profit and Loss Account for the Year:

b) Defined Benefit Plans:-

The following figures are as per actuarial valuation, as at the Balance Sheet Date, carried out by an independent actuary.

i) A reconciliation of Opening and Closing Balances of the Present Value of the Defined Benefit Plan (DBO).

iii) Amount recognized in Balance Sheet including a Reconciliation of the Present Value of the Defined obligation in (a) and Fair value of the Plan assets in (b) to the assets and liabilities recognized in the balance sheet.

vi) The overall expected rate of return on assets is based on the expectation of the average long term rate of return expected on investments of the fund during the estimated term of the obligations.

vii) Following are the Principal Actuarial Assumptions used as at the Balance Sheet Date:

The above said Rupee Term Loan/FITL/WCTL/Corporate term loans are secured by way of pari passu first charge on the Fixed assets of the company and Pari passu second charge on current assets of the company , present and future.

The above said Term Loan/WCTL/FITL ( except Foreign Currency Loans ) are further secured by way personal guarantee of two directors of the company ( Out of which one has resigned) as well as pledge of their 100% holding ( present and future ) in the company. The said facilities are further secured by the corporate guarantee of M/S Vishwa Calibre Builders Pvt. Ltd. and M/S Penta Homes Pvt. Ltd . The later's guarantee being limited to the extent of face value of 19,00,000 equity shares in Agro Dutch Industries Limited.

The Secured Lenders (UBI Consortium) have issued a notice under section 13(2) of SARFESI ACT,2002 for repayment of Debt, Which has been Suitably replied by the company.

The above said Working Capital Demand loan are secured by way of pari passu first charge on the Fixed assets of the company and Pari passu second charge on current assets of the company, present and future.

Working capital facilities are secured by way of pari passu first charge on the current assets of the company and pari passu second charge on the fixed asets of the company , present and future.

The above said Working Capital facilities & Working Capital Demand Loans are further secured by way personal guarantee of two directors of the company as well as pledge of their 100% holding ( present and future ) in the company. The said facilities are further secured by the corporate guarantee of M/S Vishwa Calibre Builders Pvt. Ltd. And M/S Penta Homes Pvt. Ltd . The later's guarantee being limited to the extent of face value of 19,00,000 equity shares in Agro Dutch Industries Limited.

Note All term loan liabilites have become Non Performing Assets/recalled/doubtful and as such have been shown under the head Current Maturities of lon g term Debts.