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1. Contingent Liabilities (Rupees in lacs)
Current Year Previous Year
A. Guarantee executed by the company
against the letter of credit
established by the Bank Guarantee
issued by the Bank on behalf of the
company. 45.00 32.36
B E.S.I. demand of the dues which has
been challenged by the company in
the ESI Court. 0.38 0.38
C Excise Duty and penalty demanded
by the Central Excise which has been
challenged by the Company in the
Tribunal (Appeal) Custom & Central
Excise 0.00 0.00
2. In the opinion of the management the Current Assets, Loans &
Advances are approximately of the value stated, if realised in the
ordinary courses of business. The provision for the known liabilities
is adequate and not in excess of amount reasonably necessary.
3. Figures have been rounded off to the nearest lacs of Rupees and
have been regrouped and recast to make them comparable with previous
year figures wherever considered necessary.
4. Sales (Exclusive excise duty& other taxes) of Rs.593.40 lacs and
scrap sales of Rs. Nil.
5. The Company has note paid annual listing fee to the Delhi and
Ahmadabad Stock Exchange where the equity shares were listed as company
has applied for delisting of the shares. Mumbai & Kanpur stock
exchanges had suspended the trading due to some reason and due to this
fees are not paid.
6. Small Scale Industrial Undertaking to whom the Company owes in
excess of Rs. 1,00,000/- for more than 31 days are Nil.
7. In accordance with AS-22 issued by The Institute of Chartered
Accountants of India Deferred Tax Assets amount to Rs. 53.56 for the
year 2013-14.
8. As required by Accounting Standard - AS 18 "Related Parties
Disclosure" issued by The Institute of Chartered Accountants of India.
There are no related parties in this regard.
9. Additional information pursuant to the provision of Section 3, 4C
and 4D of part 11 Schedule VI of the Companies Act, 1956.
10. Transactions in foreign currencies are recorded at the average
rates prevailing on transaction, current assets and current liabilities
not covered by forward exchange contracts are translated at year-end
exchange rates and the profit/loss so determined and also the realized
exchange gains and losses are recognized in the profit and loss
account.
11. Income tax expense comprises of current tax (amount of tax and
deferred tax charge or credit (reflecting the tax effects of timing
differences between accounting income and taxable income for the
period) determined in accordance with accounting standard 22 of the
Institute of Chartered Accountants to the extend here is virtual
certainty that the assets can be realized in future the liabilities or
assets are recognized using the tax rates that have been enacted or
substantially enacted by the Balance Sheet date.
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