1. The company has only one class of equity shares having a face value of Rs. 10/- per share and each holder of equity shares is entitled to one vote per share. The dividend proposed, if any, by the Board of Directors is subject to the approval of shareholders in ensuing Annual General Meeting.

In the event of liquidation, the holders of the equity shares will be entitled to receive the remaining assets of the company, after distribution of all preferential amounts, in proportion to their shareholding.

2. Issued, subscribed and paid up shares include 16,52,770 (Previous year 16,52,770) equity shares as fully paid up bonus shares by capitalization of Reserves & surplus during the financial year 2011-12.

3. Issued, subscribed and fully paid up shares include 4,96,000 (Previous year 4,96,000) equity shares issued at premium in lieu of salary payable to certain directors during the financial year 2011-12. '

4. In the opinion of (he management the balances shown under receivables, loam and advances and other assets whether current or noncurrent, have approximately the same realizable value as shown in (he accounts. However these balance are subject to Confirmation.

5. The Management is of the opinion that as at the end of the reporting period, there are no indications of a material impairment in the value of fixed assets. Hence, the need to provide for an impairment loss does not arise.

6. There is no separate reportable segment in accordance with the requirements of Accounting Standard 17 'Segment Reporting’ issued by the Companies (Accounting Standard) Rules, 2006 in view of company's activities during the year are in one segment. The company is not operating in any of the geographical segment.

7. The company has not received any information from suppliers / creditors regarding their status under Micro, Small & Medium Enterprises development Act, 2006.

8. During the year 2011-2012, the company has provided its immovable property as equitable mortgage towards (he term loan taken by the other associate company in which the company is holding shares more than 10% and the personal loan taken by its director. The necessary filing with regard to approval from Central Government and certain compliances according to the provisions of the Companies Act, 1956 arc still in process during the year. However, the terms and condition of said term/personal loan taken by the other associate company / founder directors, in view of the management, are not prejudicial to the interest of the company.

9. During the year ended 31 March 2015, pursuant to a survey conducted under Section 133A of the Income Tax Act, 1961 by the Income -Tax Authorities in the Company's premises and certain documents were impounded. The outcome of such survey is awaited. However the management is confident that no adverse impact shall be transpired.

10. A Subsidiary company has entered into joint venture agreement with M/s Cobra Installations services S.A. a company incorporated , under (he law of Spain to design, manufacture supply, Installation & commissioning of 2x60mva I32/33KV substation at Osoglo, Nigeria. The woric at this project is yet to be commenced. The expenditure incurred to obtain such project has been accounted and kept under deferred expenses.

11. The accumulated losses of a subsidiary has eroded its net worth as at March 31,2015. The management of the subsidiary company is confident of improvement in the company's future operations and the financial statement have been prepared on going concern basis. The company is of view that the investment in the company amounting to Rs. 68,00,000 is a long term investment and no provision for diminution in the value of investment is necessary.