| (1) The Company during the year has changed the method of providing
depreciation from Written Down Value (WDV) rates as prescribed in
erstwhile Schedule XIV of the Companies Act, 1956 to Straight line
method of depreciation as per Schedule II of Companies Act, 2013.
Consequent to the said change the charge for depreciation and loss for
the year is lower by Rs. 11,466/- and accumulated losses are higher by
Rs. 19,620/-.
(2) (i) Rent including society charges for office premises debited to
the profit & loss account for the year is Rs.2,30,544/-
(Rs.2,30,544/-).
(ii) Provision for rent payable up to 31st March, 2015 Rs. 34,45,283/-
(Rs. 32,48,279/-) includes cherubs paid but not encased by the
landlord.
(3) (i) No provisions of income tax has been made in the books in the
absence of taxable income as per Income Tax Act, 1961.
(ii) The Company has not created, deferred tax asset on tax losses and
depreciation, that are available for set off against future taxable
income, in view of significant uncertainty regarding reliability of the
same.
(4) There are no dues to enterprises as defined under the Micro &
Small Enterprises Development Act, 2006, which are outstanding for more
than 45 days as at March 31", 2015 which is on the basis of such party
having been identified by the management & relied upon by the auditor.
(5) In the opinion of the Board, current assets, loans and advances
other than those disclosed as doubtful, have a value at least equal to
the amounts as shown in the Balance Sheet if realized in ordinary
course of the business. The provision for all the liabilities except
legal cost is adequate and not in excess of the amount reasonably
necessary.
(6) Figures of previous year have been re-grouped/rearranged wherever
necessary to confirm to current year.
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