Notes to Accounts of South East Agro Industries Ltd.

Mar 31, 2013

Current Year Previous Year

1. Contingent liabilities not provided for Outstanding Bank Guarantee Nil Nil

2. Estimated amount of Contracts remaining to be executed on Capital account Nil Nil

(Net of Advances)

3. In absence of taxable income, provision for taxation is not considered necessary

4. Out Sundry Creditors for Raw Material of Rs.71,69,099/-, Rs.NIL is due to Small Scale Industrial Undertaking. Further there is no outstanding dues for more than 30 days to any SSI units.

5 Since number of employees in the company is less than 10, and employees frequently change employment, company is following a method of ''Pay as you go'' rn accounting retirement benefits of employees. However company is covered under ESI Schemes and applicable contributions towards ESI scheme are deposited in time on monthly basis. As no employee in the company is in employment with the company for five years or more as on 31-03-2013, provision of gratuity is not considered for the year 2012-13

6. No employee was in receipt of remuneration in excess of limits specified u/s 217(2A) of the Companies Act, 1956 read with Companies (Particulars of Employees) Rules 1975.

7. Debit/Credit balance of parties are subject to confirmation.

8. Previous years figures have been re-grouped wherever considered necessary