1. In the absence of reasonable certainty about sufficient future taxable income, it has been considered prudent not to provide for the Net Deferred Tax Asets under provision of "AS-22" on Accounting for taxes on income.
2. The Statutory Auditors had made an observation on the Audited Accounts for the year ended March 31, 2003 in respect of interest on Debentures subscribed by UTI, it is clarified that the company has entered in to one Time Settlemet with UTI and settled its liabilities thereof in full and effect of the same has been duly accounted for during the current period.
3. There were no pending investor complaints at the beginning of the quarter. During the quarter ended September 30, 2003, the Company received 4 investor complaints, which have been attended and no complaint remained unresolved as on September 30, 2003.
4. Previous period figures have been regrouped/reclassified wherever necessary to correspond with the figures for the current period.
5. The above results were taken on record by the Board of Directors in the meeting held on November 19, 2003.
   

Place: New Delhi	On behalf of the Board of Directors for FILATEX INDIA LIMITED
Dated: November 19, 2003	MADHU SUDAN BHAGERIA
	VICE CHAIRMAN & MANAGING DIRECTOR

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