Notes to Accounts of Integrated Proteins Ltd.

Mar 31, 2014

1) Amount unpaid and interest on delayed payment, if any, due at the end of the year to Small Scale/Ancillary Industrial Supplier under the ''INTEREST ON DELAYED PAYMENTS TO SMALL SCALE AND ANCILLARY INDUSTRIAL UNDERTAKINGS ACT, 1993, is unascertained in the absence of Status of the suppliers.

2) Payments to Vendors in S.S.I. Sectors

There are generally made in accordance with agreed terms. The amount, if any, overdue as on 31st March 2014 has not been ascertained.

3) The Company is having freehold land in its ownership at Village Dhichada, Tal.: Jamnagar, District - Jamnagar. The ownership of some plots of land are disputed by some persons claimed to be legal heirs of seller of such Plots, The matter is pending before the Civil Court, Jamnagar. As the matter is pending before the judicial authority hence, is contingent in nature and effect thereof to the company is also not quantifiable.

4) The company has activated D''mat account of shares of the company with CDSL and NSDL. The shareholders can now convert their physical shares to their D'' mat account.

5) In the immediate preceeding year; the company had granted unsecured loan for a sum of Rs. 90,00,000/- to M/s F. C. Pharmaceuticals Pvt. Ltd. The outstanding balance as on the date of Balance Sheet is Rs. 92,99,589/-

6) Provision for Auditor''s fees is recorded on the basis of last year.

7) Previous year''s figures are regrouped where ever necessary.

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Mar 31, 2013

(a) Provision for Auditor''s fees is recorded on the basis of last year.

(b) Previous year''s figures are regrouped where ever necessary.

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Mar 31, 2010

There is time difference between returned income and income as per profit and loss account except permanent difference statutorily decided and other related allowances and exemptions. As explained and certified by the directors looking in to the huge carried forward losses in the income tax as well as company law schedule VI there is no possibilities for adjusting the same in near future. In these circumstances it is not provided in the books of account.

(a) CONFIRMATION: No confirmation has been obtained from the debtors, creditors, ad- vances and deposits. Accordingly Balance Sheet in these accounts has been consid- ered on the basis of books. The basis of the advances to the concern is treated as certified and confirmed by the directors in this regards.

(b) PROVISIONS: A provision is recognized when an enterprise has a present obligation as a result of past event; it is probable that an outflow of resources will be required to settle the obligation, in respect of which a reliable estimate has been made. Provisions are not discounted to its present value and are determined based on best estimate required. These are reviewed at each balance sheet date and adjusted to reflect the current best estimated.

(c) Amount unpaid and interest on delayed payments, if any, due at the end of the year to Small Scale /Ancillary Industrial Supplier under the INTEREST ON DELAYED PAY- MENTS TO SMALL SCALE AND ANCILLARY INDUSTRIAL UNDERTAKINGS ACT. 1993, is unascertained in the absence of Status of the supplier.

(d) PAYMENTS TO VENDORS IN S.S.I. SECTORS: These are generally made in accor- dance with agreed terms. The amount, if any, overdue as on 31st March 2009 has not been ascertained.

(e) Provision for Auditors fees is recorded on the basis of last year.

(f) Previous years figures are regrouped where ever necessary.

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Mar 31, 2009

(a) Provision for Auditors fees is recorded on the basis of last year.

(b) Previous years figures are regrouped where ever necessary.