| 1 Contingent liabilities and commitments (to the extent not provided
for)
Contingent liabilities
Claims against the company not
acknowledged as debt 85,201,767.00 88,150,537.00
Unprovided interest on overdue
secured loans pending litigation 379,532,731.26 311,263,530.00
Guarantees - -
Other money for which the company
is contingently liable - -
Sub Total 464,734,498.26 399,414,067.00
Commitments
Estimated amount of contracts unexecuted
on capital account - -
Uncalled liability on shares and other
investments partly paid - -
Other commitments
Interest payable on unsecured loans Amount not Amount not
ascertained ascertained
Interest/penalty payable on Amount not Amount not
account of overdue secured loans ascertained ascertained
Interest/penalty payable on account Amount not Amount not
of delayed statutory payments ascertained ascertained
Interest/liquidated damages payable Amount not Amount not
on account of delayed/ defective work ascertained ascertained
Sub Total - -
Total 464,734,498.26 399,414,067.00
a Income Tax Department has raised demand of Rs 39.29 lacs in resect
of the AY 1999-2000 in the case of the Company against which the
management has filed an appeal. As the management is confident of
succeeding in the same, no provision is proposed to be made on that
account. b Income Tax Department has raised demand of Rs 41.05 lacs
(Rs.22.67 lacs and Rs.18.38 lacs) in respect of the AY 2003-04 in the
case of the Company against which the management has filed an appeal.
As the management is confident of succeeding in the same, no provision
is proposed to be made on that account.
c Income Tax Department has raised demand of Rs 144.25 lacs in respect
of the AY 2006-07 in the case of the Company against which the
management has filed an appeal. As the management is confident of
succeeding in the same, no provision is proposed to be made on that
account. d Income Tax Department has raised demand of Rs 41.61 lacs in
respect of the AY 2008-09 in the case of the Company against which the
management has filed an appeal. As the management is confident of
succeeding in the same, no provision is proposed to be made on that
account. e One of the principals of the company, Delhi Development
Authority has raised a demand of Rs 144.16 lacs in respect of the work
done by the company on that contract. However the management is
contemplating taking appropriate legal recourse for the same. Hence no
provision is proposed to be made on that account.
2 Figures are rounded off to the nearest Rupees.
3 Figures stated in bracket are those in relation to the previous
year.
4 The financial statements have been presented as per the Revised
Schedule VI to the Companies Act 1956. Accordingly the assets and
liabilities have been bifurcated between long term and short term
basis depending upon the perception of the management. Previous year's
figures have been regrouped / reclassified wherever necessary to
correspond with the current year's classification / disclosure.
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