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Notes to Accounts of Patidar Buildcon Ltd.

Mar 31, 2012

A) Contingent liabilities and commitments

(to the extent not provided for) (Rs. in '000)

2011-12 2010-11

(i)Contingent Liabilities - - (a) Claims against the company not acknowledged as debt - -

(b) Guarantees - -

(c) Other money for which the company is contingently liable - - (ii) Commitments - -

(a) Estimated amount of contracts remaining to be executed on capital account and not provided for - -

(b) Uncalled liability on shares and other investments partly paid - -

(c) Other commitments (specify nature) - -

Mar 31, 2010

1. In the absence of confirmation from various parties the debit and credit balance of such parties included under Sundry Creditors, Loans and Advances and Unsecured Loans in the Balance Sheet are as per ledger.

2. The estimated amount of capital contract remaining to be executed is Rs. 38.56 lakhs (Previous Year Rs. 38.56 Lakhs)

3. There exists a contingent liability in respect of Underwriting Commission and Brokerage payable to Grindlays Bank and Central Bank of India amounting to Rs. 13,715.00. This may materialise in the event of their fulfilling their underwriting commitments. (Previous year Rs. 13,715.00).

4. There were no employees drawing a remuneration exceeding limits prescribed under section 217(2A) of the Companies Act, 1956.

5. No provision has been made for Income Tax based on the Expert opinion obtained by the Company.

6. No previous year figures have been given for Profit and Loss account as this is the first year of commencement of commercial activity.

7. Previous year figures have been regrouped and rearranged wherever necessary.