| 1. Quoted investments have been valued at cost, Market value of all
the quoted shares as at the balance sheet date is Rs. 407959/- However
diminution in value other than temporary is provided. The profit / loss
arising on account of sales are recognized in the statement of Profit &
Loss Account.
2. Related party disclosures as per accounting standard - AS-18
issued by the institute of Chartered Accountants of India.
3. Sundry Debtors, Creditors, Advance from Customers, Sundry Deposits
are subject to Confirmation and are as per books of accounts and will
require necessary adjustment on Reconciliation.
4. Sales Tax Assessments for earlier years are in progress. Demands,
if any shall be accounted for on the completion of assessments.
5. Contingent Liabilities
a. For a demand of Central Excise Duty being contested - Rs.
50,76,707/- (Including interest of Rs. 15,22,721/-) for the period from
F.Y. 2007-08 to 2011-12. The matter is pending with the Customs, Excise
& Service Tax Appellate Tribunal, New Delhi.
b. Claims not acknowledged as debts - Nil
6. In the opinion of the directors of the company current assets,
loans and advances, unsecured loans and current liabilities have a
value on realization in the ordinary course of business at least equal
to the amount at which they are stated and provisions for all know
liabilities have been made.
7. Additional information as required by Part-ii Schedule VI of the
Companies Act, 1956:
8. Deferred Tax Liability/ Assets
As required by Accounting Standard -22'' Accounting for taxes on income
issued by Instituted of Chartered Accountants of India, deferred tax
assets on profits for the year has been created.
9. Figures have been rounded off to the nearest paisa.
10. Previous year figures
The company has reclassified previous year figures to conform to this
year's classification.
|