| 1. Contingent Liabilities on a account of litigation with
creditors/Parties is to the extent of Rs. 6.15 lakhs from 1998-99.
Income Tax Liability demanded by the Department for an amount of Rs.
11,13,063/- has not been provided in the Books of Accounts.
2. Deferred Revenue Expenditure will be written off over a period of 5
years.
3. Preliminary and Public Issue Expenses will be written off over a
period of 10 years.
4. Amount invested by Moerheim Roses & Trading India, Bangalore has
been shown in Current Liabilities Account.
5. Balances under the heads Sundry Debtors, Sundry Creditors, Term
Loans, Bank Balances and advances given by the company are subject to
confirmations.
6. Estimated amount of contracts to be executed on Capital Account and
not provided for on 31st March, 2012 is Rs. NIL (Previous Year : NIL)
7. Gratuity is not accounted during the year as there are no
employees. advanced by KSIIDC, Bangalore are under the proposal of
OTS.
8. Provision for deferred Tax liability/asset has not been provided
for as the same does not arise in the case of the company.
9. The loan outstanding to KSIIDC, Bangalore , NHB, Bangalore are
secured against the assets of the company and the same are under the
personal guarantee of Mr. K. Bhanu Prasad, Mr. D. Raghava Rao & Mr. K.
Madhava Rao.
10. Previous Year's figures have been regrouped wherever considered
necessary.
11. Figures have been rounded off to the nearest Rupee.
12. Schedules 1-11 referred to in the Balance Sheet and Profit and
Loss Account from an integral part of accounts.
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