| 1. Figures for the year have been rounded off to the nearest Rupee.
2. Number of employees whether employed for full or part of the period
who are in receipt of remuneration, aggregating to Rs. 25000/- or more
per month - None.
3. The company does not have the practise to call for confirmation in
respect of Loans & Advances, Debaters, Sundry Creditors, & another
liabilities and hence the same are subject to confirmation &
reconciliation if any, Barring a few parties under Loans & Advances and
a few Parties under Sundry Creditors from whom confirmations are
received for the year end balance.
4. For the year in question The company has not written off to P & P
exp. @ 1/10 of the total expense as has been the practice of the
company so far. Due to this Profit for the year has been reduced to the
extent of Rs. 349965/-
5. Prior Period Items Include :
(a) A sum of Rs. 8.00 Lac as which represents balance reconciliation
difference with Nakoda Textiles Industries Ltd. arising out of rate
difference debit Notes in Sale/Purchase transactions of earlier Years.
(b) a further sum of Rs. 63057 Lacs, which represent accumulated
depreciation since 1996 on a sum of Rs. 187644 by way of
Brokerage/Commission on acquisition of Machinery. The said expenditure
was omitted to be recorded due to some disputes.
6. Computation of NP* Profit U/S 309(5) of the Companies Act, 1956 is
not given because no commission is payable to managing directors or
other directors.
7. Figures for previous the year as well as current year have been
regrouped wherever found necessary.
8. Presently the process of ascertaining status of creditors is in
progress, hence, exact amount outstanding to S.S.I, units amongst the
creditors is not readily available.
9. (a) Land, Building, Structures & Plants Standing thereon. Situated
at Book No. 9 to 10 Village Karanj, Dist. Surat.
(b) All Plants & Machinery situated thereon.
(c) All books debts of the Company present & future
(d) Hypothecation of stock of raw materials, finished goods & goods in
progress
10. The company has not provided for Income Tax liability due to loss
as per Books of Accounts.
11. Contingent Liabilities :
(a) Company has preferred an appeal against the order of D. C. I.t.Co.
Cir. 3 (1), Surat against the addition of Rs. to its closing Stock for
A. Y. 97-98. The matter is reported to be under litigation.
(b) Company has availed P. C. facilities in the past from Canara Bank
K. M. Road, Surat. As perthe directive of RBI, interest was not payable
on such facility. However during the year, bank has charged interest of
Rs. 191379 stating that the same was chargeable. Company has contested
the interest and shown as recoverable in the Balancesheet. Matter is
reported to be under negotiation.
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