Notes to Accounts of Khodiyar Industries Ltd.

Mar 31, 2011

(i) Balance of cash on hand at the end is accepted as certified by the management of the company

(ii) The figures of the previous year are regroup's or rearranged wherever it is necessary.

(iii) Provision in respect of Audit Fees Rs.15,000.

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Mar 31, 2009

Not Available

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Mar 31, 2008

Contingent Liability not Provided for towards

As 31-03-07 As 31-03-08

(i) Corporate Guarantee given to bank 20.00 20.00 for loan to a company under the same management

Gratuity :

Gratuity Act is not applicable to the company, hence gratuity is not proved in the books of accounts.

Timing of Revenue Recognition ;

In appropriate circumstances, revenue (income) is recognised when no significant uncertainty as to measurability or calculability exists

Expenses :

Material Known liabilities are provided for on basis of available information /estimates.

Previous year figures have been regrouped to confirm with this year's classification wherever necessary.

Prior period material items included in Profit A Loss accounts are as under :