Notes to Accounts of Bhagawati Oxygen Ltd.

Mar 31, 2015

1.1 The Company has revalued its Buildings, Plant & Machinery and Gas Cylinders at Ballabgargh unit as on 31st August 1985 by Government approved values. The net increase of Rs. 78,15, 528/- was transferred to Revaluation of Fixed Assets Reserves.

1.2 Sundry Debtors and Creditors as appearing in the Balance Sheet are subject to confirmation.

1.3 Figures for the previous year have been re-arranged and/ or re-grouped wherever considered necessary.

---

Mar 31, 2014

1. Rights, Preferences and Restrictions attached to Equity Shares

The Company has issued only one class of equity shares having a par value of Rs.10/- per share. Each holder of Equity Share is entitled to one vote per share. In the event the Board of Directors of the Company proposes any dividend, it will be subject to the approval of the shareholders at the Annual General Meeting.

In the event of liquidation of the company the holders of equity shares will be entitled to receive remaining assets of the company. The distribution will be in proportion to the number of Equity Shares held by the shareholders.

2. Excise Duty

Excise Duty on sales for the year has been disclosed as reduction from the turnover

3. Contingent liabilities in respect of

(Amount/ Rs.)

Description 31-Mar-14 31-Mar-13

(a) Bank Guarantees gien by the Company to its customers 4,229,679 4,419,596 [Margin Money Rs. 4362367 (P.Y Rs. 4626614)]

(b) Sales tax and Income tax demands against which the Company 341,275 575,328 has filed appeals for which no provision is considered required as the Company is hopeful of successful outcome in the appeals

4. Capital Commitments : There are no contracts remaining pending to be executed as on 31-03-2014 (P.Y. Nil)

5. The Company has revalued its Buildings, Plant & Machinery and Gas Cylinders at Ballabgargh unit as on 31st August 1985 by Government approved valuer. The net increase of Rs. 78,15,528/- was transferred to Revaluation of Fixed Assets Reserves.

6. Sundry Debtors and Creditors as appearing in the Balance Sheet are subject to confirmation.

7. Figures for the previous year have been re-arranged and/ or re-grouped wherever considered necessary.

---

Mar 31, 2013

1.1 Excise Duty

Excise Duty on sales for the year has been disclosed as reduction from the turnover

1.2 Contingent liabilities in respect of (Amount/ Rs.)

31-Mar-13 31-Mar-12

(a) Bank Guarantees gien by the Company to its customers 4,419,596 4,504,327

[Margin Money Rs. 4626614 (P.Y Rs. 4727128)]

(b) L/C Commitments 4,200,000

[(Margin Money Rs. Nil (P.Y Rs.840000)]

(c) Sales tax, Income tax and Excise demands against 575,328 3,333,959 which the Company has filed appeals for which no provision is considered required as the Company is hopeful of successful outcome in the appeals

(d) Capital Commitments

1.3 The Company has revalued its Buildings, Plant & Machinery and Gas Cylinders at Ballabgargh unit as on 31st August 1985 by Government approved valuer. The net increase of Rs. 78,15, 528/- was transferred to Revaluation of Fixed Assets Reserves.

1.4 Sundry Debtors and Creditors as appearing in the Balance Sheet are subject to confirmation.

1.5 Sundry Creditors includes Rs. Nil pertaining to MSME Enterprises.

1.6 Figures for the previous year have been re-arranged and/ or re-grouped wherever considered necessary.

---

Mar 31, 2012

1.1 Excise Duty

Excise Duty on sales for the year has been disclosed as reduction from the turnover 28 12 Contingent liabilities in respect of

(Amount/ Rs.) 31-Mar-12 31-Mar-11

(a) Bank Guarantees gien by the Company to its customers 4,504,327 5,078,372 [Margin Money Rs. 4727128 (P.Y Rs. 4692614)]

(b) L/C Commitments 4,200,000 [(Margin Money Rs. 840000 (P.Y Rs. Nil)]

(c) Sales tax, Income tax and Excise demands against 3,333,959 which the Company has filed appeals for which no provision is considered required as the Company is hopeful of successful outcome in the appeals

(d) Capital Commitments

1.2 The Company has revalued its Buildings, Plant & Machinery and Gas Cylinders at Ballabgargh unit as on 31st August 1985 by Government approved valuer. The net increase of Rs. 78,15, 528/-was transferred to Revaluation of Fixed Assets Reserves.

1.3 Sundry Debtors and Creditors as appearing in the Balance Sheet are subject to confirmation.

1.4 Sundry Creditors includes Rs. Nil pertaining to MSME Enterprises.

1.5 Figures for the previous year have been re-arranged and/ or re-grouped wherever considered necessary.

---

Mar 31, 2010

1.1 The Company has revalued its Buildings, Plant & Machinery and Gas Cylinders at Ballabhgarh Unit as on 31st August 1985 by Government Approved Valuer. The net increase of Rs.78,15,528/- was transferred to Revaluation of Fixed Assets Reserves.

1.2 Sundry Debtors and Creditors as appearing in the Balance Sheet are subject to confirmation.

1.3 Annual contribution towards Gratuity liability is funded with Life Insurance Corporation of India in accordance with the Gratuity Scheme of L.I.C.

1.4 Sundry Creditors includes Rs. Nil pertaining to Small Scale Industrial undertakings (SSI Units)

1.5 Contingent Liabilities not provided in respect of the following

2010 2009

Particlars Value (Rs) Value (Rs)

51,31,2507- 2,34,2547-

Bank Guarantees

(Margin Money by FDR (Margin Money by FDR Rs.37,38,0007-) Rs.47,0 1,3647-)

1.6 figures for the previous year have been re-ai ranged and/or re-grouped v-herever considered necessary.

1.7 Schedules 1 to 13 forms an integral pari of the Balance Sheet and Profit & Loss Account and have been duly authenticated.