| 1) The previous year's figures have been reworked, regrouped,
rearranged and reclassified wherever necessary.
2) All the investments made by the company are valued at Cost .
3) Managerial Remuneration: Nil
4) The inventories of the company are valued as per cost price and
market price whichever is less.
5) Deferred tax arising on account of timing difference and which are
capable of reversal in one or more subsequent periods is recognized
using the tax rates and tax laws that have been enacted or
substantively enacted. Deferred tax assets are recognized unless there
is virtual certainty with respect to the reversal of the same in future
years.
6) The revised Schedule VI as notified under the companies Act, 1956,
has become applicable to the company for the presentation of its
financial statements for the year ending March 31,2013. The adaptation
of the revised Schedule VI requirements has significantly modified the
presentation and disclosure which have been complied with in these
financial statements Previous year figures have been reclassified in
accordance with current year requirements.
7) All schedules annexed to and from integral part of the Balance Sheet
and Profit & Loss Account.
8) Minimum Alternative Tax (MAT) is recognized as an asset only when
and to the extent there is convicting evidence that the company will
pay normal income tax during the specified period. The Company reviews
the same at each balance sheet date and writes down the carrying amount
of MAT Credit Entitlement to the extent there is no longer convincing
evidence to the effect that company will pay normal Income Tax during
the specified period.
9) Value of Import on CIF Basis Nil
10) Earnings in Foreign Exchange (FOB Value) Nil
11) Expenditure in Foreign Currency Nil
12) The Company has no employee to whom the provisions of section 217
(2A) of the Companies Act, 1956 are applicable.
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