B. Previous year adjustments of Rs. 48,773/- include Rs.5,827/- paid for Sales Tax demand for the Assessment Year 2010-11; Rs.3,101/- paid for Service Charges 2013-14, Rs. 14,510/- paid for License Renewal Fee of 2013-14 & VAT Credits of Rs. 25,335/- has been written off due to VAT exemption.

C. Company has revalued its Fixed Assets namely Land and Building on 31.03.2004. The value of aforesaid assets has increased by Rs.5,90,00,625.42 as per Valuation Report dt.31.03.2004 from a qualified & authorized firm of Engineers M/s.Universal Consultants, Meerut. The aforesaid amount has been credited to Revaluation Reserve Account. Further, during the year, same has been reduced by equivalent amount of depreciation charged on this revalued amount.

D. The bifurcation of the total outstanding dues of small scale industrial undertakings and other than small scale industrial undertakings as well as the name of the small scale industrial, undertakings to whom the company owes a sum of exceeding rupees one lacs and which is outstanding for more than thirty days, are not disclosed in the Balance Sheet as suppliers have not indicated their status on their documents/papers whether they are small scale undertakings or not hence it is not possible for the company to disclose the said information in respect of trade creditors.

E. The cost records for the financial year 2014-2015 are still under preparation and till the date of this Balance Sheet, the same could not be finalized.

F. The company has valued the stock of finished goods at lower of cost or realizable value in terms of AS-2. Earlier the company was valuing the stock at realizable value.

G. The company has adopted Schedule II to the Companies Act, 2013, for depreciation purposes, from 1 April 2014. The company was previously not identifying components of fixed assets separately for depreciation purposes; rather, a single useful life/ depreciation rate was used to depreciate each item of fixed asset. Due to application of Schedule II to the Companies Act, 2013, the company has changed the manner of depreciation for its fixed assets. Now, the company identifies and determines separate useful life for each major component of the fixed asset, if they have useful life that is materially different from that of the remaining asset. The company has used transitional provisions of Schedule II to adjust the impact of component accounting arising on its first application. The carrying amount of components whose remaining useful life is not nil on 1 April 2015, is depreciated over their remaining useful life.

H. In the opinion of the Board of Directors, the current assets, loans and advances are approximately of the value stated if realised in the ordinary course of business and the provision for all known liabilities is adequate and not in excess of the amount reasonably necessary.

I. Managerial Remuneration :

Managerial remuneration has been paid within the limits specified by Schedule V of the Companies Act, 2013. Computation of Net Profit u/s 198 of the Act is not given in view of there being no commission payable to any director. The details of managerial remuneration paid under Section 197 of the Companies Act, 2013 are as under:

J. During the current year no dividend is proposed to be paid hence not provided for.

K. Particulars of Capacity, Production, Turnover and Stock for manufacturing Activities:

L. Disclosures in respect of related party as defined in Accounting Standard 18, with whom transactions were carried out in the ordinary course of Business during the year as given below:-

Related party disclosures

a. List of related parties

i. Subsidiaries

- Sybly International FZE

ii. Key Management Personnel

- Mr. Mahesh Chand Mittal

- Mr. Nishant Mittal

iii. Relatives of Key Management Personnel

- Mrs. Suman Mittal

- Mrs. Parul Mittal

- Mrs. Rashi Mittal

- Mrs. Shikha Mittal

- Mr. Satya Prakash Mittal

- Mr. Umesh Kumar Mittal

- Sybly Techno Fibres Limited (Common KMP Mr. M.C.Mittal & Mr. Nishant Mittal)

- Vartex Fabrics (P) Ltd. (Common KMP Mr. M.C. Mittal)

- Dux Textiles (P) Ltd. (Common KMP Mr. Nishant Mittal)

M. In the opinion of the Board of Directors, the current assets, loans and advances are approximately of the value stated if realised in the ordinary course of business and the provisions for all known liabilities is adequate and not in excess of amount reasonably necessary.

N. Previous Year's figures have been rearranged regrouped wherever necessary.