Each Equity Shareholder holding shares of Rs. 10/- each is eligible for one vote per share held and is entitled to dividend when proposed by the Board of Directors subject to the approval of the sharesholders in the Annual General Meeting. Each Equity Shares holders is entitled to participate in repayament of Capital on liqudation after all secured creditors have been paid.

1) Working Capital Loans etc. from Banks are secured /to be secured by first charges by way of hypothecation on the company's stock of Raw Materials, Consumable stores, Semifinished & Finished Goods and book debts present & future.

2) State Bank of India and Punjab & Sind Bank have filed applications against the Company before the Debt Recovery Tribunal, Kolkata for the recovery of their dues.The matters are pending and lying subjudice.

3) The outstanding balance of borrowings from the banks for Working Capital Loans, Overdraft and Cash Credit are subject to receipt of confirmation/statements which could not be obtained due to restructuring being in progress.

4) Efforts are made for recovery of Trade Recievable (including certain Domestics Sales Debts) In respect of the above debts adjustment are pending against supplies and other liabilities etc due to the buyers.

The Management is confident of recovering the balance after such adjustments pending approval from the concerned regulatory authority.

5) Trade Recievable include :-

Overdue Export Bills amounting to Rs.2060.62 Lacs outstanding for long after realization of Rs.236.03 Lacs from such debtors till 31.03.2014 pursuant to a decree in UK Court.

The Management considered that the remaining portion of the debt which is not covered by above decree will be fully adjustable against dues to the party in respect of supplies etc. on receipt of approval from the regulatory authorities.

6) Trade Recievable (over 6 months) also include Rs.1025.28 Lacs due from a customer based in UK in respect of consignment made to them for which suits have been filed by the company for recovery of the dues.The Management has been legally advised that such dues will be recovered.

7) Trade Recievable includes Rs. 176.68 Lacs due from the companies which have become sick and refereed to BIFR under Sick Inndustrial Companies ( Special Provisions ) Act, 1985. In the absence of rehabiliation scheme amount of provision if any required has not been ascertained at this stage.

8) Claims receivable from various banks amounting to Rs.63.06 Lacs on account of excess interest charged by them in earlier years which are subject to confirmation. However as explained by the Management the Banks have not disputed the claims.

9) The Miscellaneous Advances includes dues from certain Banks amounting to Rs.299.87 Lacs settlement of which is pending restructuring.

10) Loans and Advances includes Rs. 33.90 Lacs due from the companies which have become sick and refereed to BIFR under Sick Inndustrial Companies ( Special Provisions ) Act, 1985. In the absence of rehabiliation scheme amount of provision if any required has not been ascertained at this stage.

11) Advances include Rs. 539.00 Lacs due from a party, which in the opinion of the management is considered to be fully recoverable.

12) During the year the company paid Rs 211.70 Lacs as advance to overseas consultant on the basis of Advance Invoice raised by the Consultant for providing technical knowhow and marketing assisstance. The consultant failed to provide neccassary services and the Management is contemplating legal action against him. As the extent of recoverabilty of the amount is presently unascertainable, no provision has been made for the same.

13) Contingent Liabilities and Commitments

(To the extent not provided for)

i) Contingent Liabilities

 a) Guarantees
    Letter of Credit             16,970               16,970
    Bank Gurantee                 4,179                4,005
    Corporate Gaurantee        2,00,000   2,21,149  2,00,000  2,20,975

 b) Other money for which the 
    company is contingently 
    liable:
    Excise Demands             13,67,637           13,70,159
    Income Tax                     1,531               1,531
    Demands are in various         1,450  13,70,618    1,450  13,73,140
    forums/Authorities.
    
   Total                                  15,91,767           15,94,115

Estimated Amount of Contracts remaing 11,972 - to be executed on Capital Account and not provided for

   Total                                   11,972                -

14) Trade Payable, Trade Receivable and Advances are subject to confirmation.

15) Advances include Rs.30000/- (Previous year Rs.166283/-) being amount due from an officer of the company (Maximum amount due at any time during the year Rs.178352/- (Previous Year Rs.634588/-).

16) Related Party Disclosures under AS - 18 i) Related Parties Relationship :

     a) Key Management Personnel
        Mr N K Garg (Executive Director)
     
     b) Other Related Parties
        Uniworth Limited
        Uniworth Apparel Limited

F. The previous year's figures have been reworked, regrouped, rearranged and reclassified wherever necessary and practicable. Amounts and other disclosures for the preceding year are included as an integral part of the current year financial statements and are to be read in relation to the amounts and other disclosures relating to the current year.