Note 1.: As against the same, the company has paid under protest of Rs.406.50 Lacs and shown as Long Term Loans and Advances.

2. In the opinion of the Board and to the best of their knowledge and belief, the value on realization of the current assets, loans and advances in the ordinary course of the business shall not be less than the amount stated in the Balance Sheet except for an amount of Rs.196.75 crore of Trade receivable considered doubtful for recovery. The balance of trade receivable and trade payables are subject to confirmation, reconciliation and consequential adjustments, if any

3. Non-Provision for Doubtful Trade Receivables:

No Provision has been made in respect of an amount of Rs.196.75 crore of Trade Receivable considered doubtful for recovery. To that extent, losses of the company are understated and current assets of the company are overstated.

4. Micro and Small Scale Business Enterprises:

The Company has not received information from the Suppliers regarding their status under The Micro, Small & Medium Enterprises Development Act, 2006. Hence, disclosures, if any relating to amounts unpaid as at the balance sheet date together with interest paid or payable as per the requirement under the said Act, have not been made.

5. There are no amounts due and outstanding to be credited to Investor Education and Protection Fund. The company has transferred Rs.1,33,371/- in relation to year 2007-08, to the Investor Education & Protection Fund during the year.

6. As per clause 32 of the listing agreement, the disclosure related to Loans to Subsidiary

7. As per provisions of the Companies Act, 2013, the company is required to spend 2% of the average net profits of the three immediately preceding financial years on CSR as per the provisions of section 135 of the Companies Act, 2013. The company has not spent any amount towards CSR expenses during the year.

8. In view of the erosion of 100% net worth of the Company by current year's losses as on 31st March 2016, the Company has become Sick Industrial Company under the provisions of Section 3(1)(o) of the Sick Industrial Companies (special provisions) Act, 1985 (SICA 1985). Accordingly the Company has to file 'reference' in prescribed 'Form A' to the Hon'ble Board for Industrial & Financial Reconstruction (BIFR) to comply with the provisions of Section 15(1) of the SICA 1985 within 60 days from the date of forming such opinion by the Board of Directors, The management is in process of compliance of the same.

9. Disclosure under Accounting standard

10. Disclosure as per Accounting Standard - 15 (Revised) Employee Benefits