అకౌంట్స్ గమనికలుIccon Oil & Specialities Ltd.

Mar 31, 2012

NOTE 1

Sundry Debtors, Sundry creditors and Bank balances are subject to confirmation and reconciliation.

In the opinion of the directors current assets, loans & advances are approximately of the value stated, if realised in the ordinary course of business.

The provision for depreciation and all known liabilities(except for interest on Term Loan and Cash Credit) are adequate and neither In excess nor short of the amount reasonably necessary.

NOTE 2

Balance with Excise Authorities et & amounting to Rs.24,068(Previous Year Rs.24,068).

NOTE 3

The Company has not received the required information from Suppliers regarding their status under the

vucro, Small and Medium Enterprises Development Act, 2006. Hence disclosures, if any, relating to amounts unpaid as at the year end together

NOTE 4

Previous year's figures have been re-grouped and/or re-arranged wherever necessary.

NOTE 5

accumulated losses of the company at the end of the year have exceeded the net worth of the company, me accounts however have been prepared on going concern basis, since in the opinion of the management company is capable of reconstruction and alternatives In this regard are being considered. Company has been registered as a Sick company as defined under a use 0 of sub-section (I) section 3 of Sick Industrial Companies Act, 1985.

NOTE 6

Fixed deposit receipts of Rs. 5000/- is lodged with Sales tax authority.