| 1. EXCISE DUTY ON CLOSING STOCK
Excise duty shown as deduction from sales represents the amount of
excise duty collected on sales and in accordance with ASI 14 on
'Disclosure of Revenue from Sales Transactions' issued by Institute of
Chartered Accountants of India, differential excise duty on opening and
closing stock of - finished goods amounting to Rs.-3509200/- [P.Y.
Rs.(-186411)] has been adjusted from increase/(decrease) in stock in
trade in Notes -21.
2. Balances of the sundry debtors, sundry creditors, loans and
advances etc. are subject to confirmation and reconciliation.
3. The Company has not received any information from any of the
suppliers of their being a Small Scale Industrial Unit. Hence the
amounts due to Small Scale Industrial Unit as on 31st March 2015 are
not ascertainable.
4. In opinion of the Board, the value of realization of loans,
advances and current assets in the ordinary course of business will not
be less than the amount at which they are stated in the balance sheet.
5. Information on Related Party as required by Accounting
Standard-18, "Related Party Disclosures" issued by The Institute of
Chartered Accountants of India, are given below :
i) Related Parties
a) Wholly owned Subsidiary b) Key Management Personnel
Popular Mercantile Pvt. Ltd. Shri Suresh Goel
c) Associate Shri Narendra Goel
Shri Bajrang Power and Ispat Limited Shri Anand Goel
Shri Bajrang Ispat & Plywood Limited Shri Bajrang Hydro Energy Pvt.
Ltd. S.B. Multimedia Private Limited Shimmer Investment Pvt. Ltd.
Swastik Mercentiles Ltd. Jainarayan Hari Ram Goel Charitable Trust I A
Energy
6. In accordance with the Accounting Standard (AS-28) on "Impairment
of Assets" issued by the Institute of Chartered Accountants of India,
the Company during the year carried out an exercise of identifying the
assets that may have been impaired in respect of each cash generating
unit in accordance with the said Accounting Standard. The Company has
not identified any Fixed Assets to be materially impaired mainly on
account of economic performance and alternative viability of such
assets and accordingly no amount has been charged as impairment loss to
the Profit & Loss Account at the year end.
7. FOREIGN CURRENCY TRANSACTION
Foreign Exchange Income / (Expenditure) shown in Profit and Loss
Account Rs.770228/- (PY. Rs. (43592/-)) relates to fluctuation of
currency value of Sales Transaction .
38. Inventories and consumption of stores materials have been taken as
valued and certified by the management.
39. The previous year figures have been regrouped and/or rearranged
wherever necessary.
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