| 1) In view of the confirmation not having been obtained from the Trade
receivables, Loans and Advances (both Long-term and Short- term) and
Trade payables, the accounts are subject to adjustment on receipt of
confirmation of balance and /or reconciliation of accounts the impact
where off on account cannot be ascertained at this stage.
2) In the opinion of the Board of Directors, the Tangible Fixed Assets,
the Trade receivables and Loans and Advances (both Long-term &
Short-term) have a value on realization in the ordinary course of
business at least equal to the amount at which they are stated in the
Balance Sheet.
3) No provision for doubtful Trade receivable and Long term loans &
advances of Rs.499.71 lacs (Previous year Rs. 128.85 lacs) and Rs.38.03
lacs (Previous year Rs.28.03 lacs) respectively has been made because
in the opinion of management, these amounts are still good in nature
and management is hopeful of their recovery.
4) Company has not booked the income of Rs 85 Lacs (Previous year Rs
NIL) as per agreement on the basis of which company has given security
deport to one of the trust in which directors of the company are
interested because in the opinion of the management there is a dispute
with the trust and entire amount of security deport has been recalled.
5) Company has not made provision for service tax of Rs 321.64 lacs
(Previous year Rs NIL) on the basis of show cause notice received form
service tax department. In the opinion of the management same is under
dispute and has been shown as contingent liability.
6) The Subsidiaries Companies made a combined net Loss of Rs. 4.78 lacs
for the year ended 31st March, 2015. This loss together with the
brought forward loss of Rs. 55.27 lacs has been carried to the Balance
Sheet. The holding Company's Share of loss out of Rs. 60.05 lacs has
not been dealt with in the holding Company's books of accounts.
7) Deferred Tax:
In accordance with Accounting Standard (AS)-22 on "Accounting for Taxes
on Income Tax" issued by the Institute of Chartered Accountants of
India and based on the reasonable certainty that sufficient future
taxable income will be available, the company has accounted for
deferred tax during the year.
8) Segment Reporting-Basis of Preparation
The segment reporting policy complies with the accounting policies
adopted for preparation and presentation of financial statements of the
company and is in conformity with Accounting Standard-17 on "Segment
Reporting", as specified in the Companies (Accounting Standard)
Rules,2006The primary segmentation is based on the nature and type of
Services rendered. Segment assets and liabilities represented
Net assets and liabilities of that segment.
9) There are no transaction which are required to be disclosed under
clause 32 of the Listing Agreement with the Stock Exchange where the
equity shares of the Company are listed.
10) Previous year's expenditure accounted for under the respective
heads of accounts during the current year is Rs.0.07 lacs (Previous
year Rs. 0.10 lacs)
11) Additional information pursuant to Note 5 of Part-I I of the
Schedule - III of the Companies Act, 2013 is given below to the extent
applicable.
12) Previous year's figures have been regrouped/rearranged wherever
considered necessary.
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