The Company has only one class of Equity Shares having a par of value of Rs. 10 per share. Each holder of Equity Share of the Gompany is entitled to one vote per share.

In the event of liquidation of the company, the Equity Shareholders will be entitled to receive remaining assets of the Company, after distribution of all preferential amounts. The distribution to the Equity Shareholders will be in proportion to the number of Equity Shares held by the Shareholder.

The preference shares are redeemable in three equal annual installments of Rs. 300.00 Lakhs each commencing from the financial year 2019-2020. The cumulative dividend on these Preference Shares aggregating to Rs. 55.04 Lacs (Previous year NIL) is to be paid as and when declared by the Company.

The holders of all preference shares do not have any voting rights. The holders of all Preference shares have a first right of cumulative dividend as compared to the shareholders of Equity shares in case the Company declares any dividend.

In the event of liquidation of the company, all Preference Shareholders will have a priority over the Equity shareholders to receive remaining assets of the Company, after distribution of all other preferential amounts. The distribution to the Preference shareholders will be in proportion of the number of shares held by each shareholder.

2. Secured

Cash Credit (Note 7 (I))

Cash Credit including Export Packing Credit is secured by hypothecation of stock-in-trade, stores and book debts of Chemical Division at Ambernath and Dahej, further secured by way of second charge by simple registered mortgage on the land of Chemical Division at Ambernath, Maharashtra and mortgage on the land at Dahej, Gujarat. Rate of interest is ranging from 15% to 17%.

3. Unsecured:

Corporate loan from HDFC Ltd( Note 7 (II) (b))

Corporate loan from HDFC Ltd. for financing factory premises at Dahej @ 14.85% rate of interest, repayable by July, 2015.

There are no Micro, Small and Medium Enterprises, to whom the Company owes dues, which are outstanding for more than 30 days either during the year or as at the Balance Sheet date, computed on unit wise basis. Further, no interest has been paid during the year or is payable to any Micro, Small and Medium Enterprise on the Balance Sheet date. The above information regarding Micro, Small and Medium Enterprises has been determined to the extent such parties have been identified on the basis of information available with the Company. This has been relied upon by the auditors.

4. Deferred Tax Assets/ (Liabilities) [Net]

Deferred Tax Assets/ (Liabilities) for nine months ended 31st March, 2015 has been provided on the estimated tax computation.

5. Other loans and advance includes

(i) An amount Rs. 14.22 lacs was receivable from the State Trading Corporation of India Ltd. (STC), New Delhi, on account of rate difference and dispatch money earned. The Tis Hazari Court, Delhi, upheld the recovery, against which STC preferred further appeal in Delhi High Court & deposited 50% of decreed amount. In terms of the settlement agreement with STC, 50% of the amount deposited along with interest due thereon is receivable. Accordingly, an amount of Rs.6.16 Lakhs is continued to be shown as receivable from STC and balance amount of Rs..8.06 Lakhs has been written off during the year.

6. Contingent Liabilities not provided for:

                                           Nine Months    Fifteen Months
                                           Ended 31st     Ended 30th
                                           March2015      June 2014

                                           Rs. in Lacs     Rs. in Lacs

(1)  Bank Guarantees Outstanding                 27.71          49.68

(a) Tax Demands under appeal:

i)  Excise Duty demanded by
Commissioner of Central Excise                   12.65          12.65

ii) Custom Duty levied by Collector
of Customs *                                     44.60          44.60

(b) Some of the retrenched employees of Export Oriented Unit (EOU) of the erstwhile Timber Division have not accepted the retrenchment compensation offered by the company on the closure of the unit and matter is in the court. The amount as offered by the company has been duly provided for and as per legal opinion the possibility of any further liability is remote. The additional liability if any is presently not ascertainable.

(c) Some of the employees of Chemical Division at Ambernath have not accepted the relocation to Dahej Plant and have also not accepted Voluntary Separation Scheme offered by the Company. These employees have approached Thane Labour Court in the matter. However the Company has provided for the dues payable to them as per Voluntary Separation Scheme amounting to Rs. 89.54 Lacs.

(3) Arrears of Cumulative Preference Divided            55.04      -

8. Segment Reporting

(i) The Company has disclosed Business Segment as the primary segment. Segments have been identified taking into account the nature of the products, the differing risks and returns, the organization structure and internal reporting system.

(ii) The company `s operations predominantly relate to manufacture of Boron Based Chemicals and Wind Power Generation.

(iii) The Company caters mainly to the need of domestic market. The export turnover is not significant in the context of total turnover. As such, there are no reportable geographical segments.

(iv) Segment Revenue, Segment Results, Segment Assets and Segment Liabilities include the respective amounts identifiable to each of the segments as also amounts allocated on a reasonable basis.

(v) The expenses , which are not directly attributable to the business segment, are shown as unallocated corporate cost. Assets and Liabilities that cannot be allocated between the segments are shown as a part of unallocated corporate assets and liabilities respectively.

31 Disclosures in respect of Related Parties pursuant to Accounting standard - AS 18 - issued by the Central Government Of India pursuant to Companies (Accounting Standards) Rules 2014 are as follows.

List of Related Parties with whom the Company has entered into transactions during the year.

a) Controlling Companies : There is no controlling Company

b) Subsidiary Company               : Borax Moraiji (Europe) GmbH

                                    : L.P.Gas Equipment Pvt. Ltd.

                                    : Kosan Industries Pvt. Ltd.

                                    : Phoenix Distributors Pvt. Ltd.

                                    : The Natural Gas Co. Pvt. Ltd.

                                    : Jasraj Trading Company

                                    : Bombay Foods Pvt. Ltd.

                                    : L.P.Gas Transport & Bottling Co.
                                      P. Ltd.

                                    : Gocul Gas Pvt.Ltd.  *

                                    : Autogas Conversion (India)
                                      Pvt. Ltd.

                                    : B.S.and Services Private Ltd.

                                    : Falcon Chemical LLC ..

d) Key Management personnel         : Mr. Bimal L.Goculdas, Managing
                                      Director

                                    : Mr. Laxmikumar N. Goculdas,
                                      Chairman

                                     Mr. Dilip S. Nagle, Company
                                     Secretary .

                                     Mr. Shreeram R.Mohite, C.F.O.

e) Relatives of Key Management Personnel & :    Mr. Lalit N. Goculdas
their enterprises where transactions have       Mrs. Radha L. Goculdas
taken place .                                   Ms. Mitika L. Goculdas

10. Previous year's figures have been regrouped and reclassified wherever considered necessary. Current year figures are for nine months ended on 31st March,2015 therefore not comparable with figures for previous year ended on 30th June,2014 for fifteen months.