| 1. a) Steps have been taken to withdraw the guarantee given to
bank for term loan of Rs. 1312 lacs taken by Shashwat International
Limited.
b) During the year (2008-09) the Company provided a Guarantee
for 1600 lacs to Bank of Baroda in respect of loan taken by Shashwat
International Limited. Steps have been taken to withdraw such
guarantee.
2. There are no reported Micro and Small Enterprises as defined in the
'The Small and Medium Enterprises Development Act, 2006' (as disclosed
in Schedule 9 - Current liabilities) to whom the company owes dues.
3. Write off of Foreign Debts amounting to Rs. 59,27,257.58 in 2009-10
is awaiting approval of Reserve Bank of India.
4. Information about Segment Reporting :
The company is engaged in trading and application of refractory
products and the same constitute the main activity of the company.
Accordingly, the Accounting Standard-17, Segment Reporting is not
applicable.
5. In absence of taxable income, provision for current tax has not
been made.
6. In absence of virtual certainty of income deferred tax asset has
not been created in respect of business loss and unabsorbed
depreciation.
7. The figures for the previous years have been re-grouped/recast as
far as practicable to make them comparable with those of the current
year.
8. Figures have been rounded off to the nearest Rupees.
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