i The company has acquired the lease right of land of 118 Bigha and 10 Biswa from the directors/ relative of directors for the 10 years as per terms and condition of the agreement. The total amount paid for the said lease of 10 year is Rs. 1, 16, 50000/- which is amortized equally over the period of lease. The aforesaid lease agreement is cancelable lease agreement and therefore no disclosure is required to be made in accordance with AS-19 "Leases" issued by ICAI.

ii Employees Benefits are recognized as on expense in the profit and loss account in which the related service in rendered. In respect of payment of gratuity, the same is neither applicable as per statute nor payable under any formal plan or agreement between company and its employees

iii SEGMENT DISCLOSURE

In pursuant to Accounting Standard 17 regarding Segment Reporting, the. Segment wise disclosure are as under:

1.02 The company has entered into an agreement for cultivation of crops at its land. The party has borne labour and tractor running and maintenance expenses for a consideration of 25/ of total produced crops at the said land of the company. The company has taken into account the production of only 75/- of total produced crop at the said land being its share and sales thereof have been accounted for in the books of accounts

1.3 The company during the year has paid fees for listing of its shares in Bombay Stock Exchange.

1.4 In the opinion of the Board, all the assets other than fixed assets and non-current investments have a value on realization in the ordinary course of business at least equal to the amount at which they are stated and provision for all liabilities have been made.