| 1. The Company has only one class of shares, referred to as equity
shares, having a par value of Rs.10/-. Each holder of equity shares is
entitled to one vote per share held.
The Company declares and pays dividend in Indian rupees. The dividend
proposed, if any, by the Board of Directors is subject to the approval
of the shareholders in the ensuing Annual General Meeting.
Dividend, if any, is payable to the shareholders in proportion to their
shareholding.
The Company has not declared dividend during the year.
In the event of liquidation of the Company, the holders of equity
shares will be entitled to receive any of the remaining assets of the
company after distribution of all preferential amounts, in proportion
to their shareholding.
2. CONTINGENT LIABILITIES AND COMMITMENTS
Particulars As at 31.03.2014 As at 31.03.2013
Rs. Rs.
(to the extent not provided for)
Bank Guarantees extended by
bankers 4,405,000 -
On account of capital contracts
remaining to be executed 720,517 -
Income Tax 1,535,620 -
3. SEGMENT REPORTING
The Company is engaged primarily in one segment of manufacture of tools
and hence the Segment reporting is not applicable.
4. In the Opinion of Board of Directors, Current Assets, Loans and
Advances, have atleast the value as stated in the Balance Sheet, if
realised in the ordinary course of the business.
5. Confirmation from debtors and creditors have not been received in a
few cases
6. Pursuant to Accounting Standard (AS 28) - Impairment of assets, the
Company assessed its fixed assets for impairment as at March 31,2014
and concluded that there has been no significant impaired fixed asset
that needs to be recognised in the books of account.
7. The Company is yet to appoint the Chief Financial officer in place
of the one, who has resigned on 31st July 2013 and hence the financial
state- ments have not been attested by a Chief Financial officer.
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