| 1. Companies Overview;
Hindustan Appliances Limited (the company) is a public Limited company
incorporated under the provisions of the companies Act, 1956 vide CIN:
L18101MH1984PLC034857
2. Provision for accruing of liabilities for gratuity in terms of
Accounting Standard 15 [AS-15 (revised 2005)] "Accounting for Employee
Benefits" issued by The Institute of Chartered Accounts of India has
not been made in the accounts. The figure of which is not
ascertainable. However same is accounted on cash basis.
3. In accordance with the pronouncements of Accounting Standard 22 :
Accounting for Taxes deferred tax is recognized, subject to
consideration of prudence, on timing differences, being difference
between the taxable and accounting income/expenditure that originate in
one period and are capable of reversal in one or subsequent period.
In view of reasonable uncertainty as to the utilization of deferred tax
assets in the foreseeable future in relation to carry forward capital
Loss under tax laws the same has riot been recognized in books of
accounts as per para 17 of the said standard:
4. Related Party Transactions
Related party disclosure in accordance with the Accounting Standard
18-issued by the Institute of chartered Accountants of India is as
under
5. Balances in respect of Loans & advances in most of the cases are
subject to confirmations, reconciliations and adjustments, if any.
6. In the opinion of the management Loans & Advances have a value on
realization in the ordinary course of the business at least equal to
the amount at which they are stated in the books of accounts.
7. The previous year's figures have been regrouped & recast wherever
necessary to make them comparable.
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