| 1. In the opinion of Management and to the best of their knowledge and
belief, the realisable value of current Assets, Loans and Advances in
the ordinary course of business would not be less than the amount by
which they are stated in the Balance Sheet.
2. The Comparative figures for the previous year have been rearranged
and regrouped wherever required to confirm with the revised
presentation of accounts .
3. No provision for taxation has been made because of carry forward
losses of earlier years. No provision for deferred tax has also been
made because future viability of the Company is endangered.
4. In the presentation of Balance sheet and profit & loss Account
paise have been omitted.
5. contingent liabilities not provided for a respect of :-
a) Bond executed in favour of Customs/Excise authorities for Rs. 10
lacs (previous year Rs. 10 lacs)
b) Bond executed in favour of Development Commissioner, NOIDA Export
Processing Zone, noida for the fulfilment of export obligations for
five years and other terms and conditions relating there to. The case
is pending before the Delhi High court challenging the penalty of
Rs.10.00 lacs as imposed by the NEPZ commissioner.
E. During the year no interest has been provided on the Term Loans and
Working Capital Loans and interest amounted to Rs. 81,08,710/ - during
the year and if the same had been provided the loss would have
increased by Rs. 81,08,710/-. During the five previous years also, no
interest was provided for.
7. Information Pursuant to the Provision of Paragraph (3) & (4) of
Part II of schedule VI to the companies Act, 1956.
2004-2005 2003-2004
a) Managerial Remuneration Nil Nil
b) Auditors Remuneration Statutory Audit Fee 11020 10800
c) There was no foreign exchange earning and outgoes during the year.
(Previous year nil)
8. PARTICULARS IN RESPECT OF CAPACITY, PRODUCTION, OPINING AND CLOSING
STOCK, PURCHASES, SALES AND CONSUMPTION OP RAW MATERIALS.
The Quantitative details are not applicable, because there is no
manufacturing or trading by the company due the action taken by HSIDC
under section 29 of the State Financial Corporation Act,1951. Hence no
details have been provided.
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