| 1. Contingent Liabilities
No evaluation and estimate has been made by the management in respect
of contingent
2. The management has prepared the accounts of the company on going
concern basis inspite of the fact that the companies manufacturing
activities has been suspended from FY 2013-14 and the losses have
exceeded 50% of the net worth.The Companies office and factory were
under courts seal and the seal has been removed in November 2005, and
the management of the company has been entrusted to an administrator
appointed by the Hon'ble Bombay high court. The management of the
comnpany was under the said administrator up to 3rd August, 2012 and
there after the management of the comapny is under a newly constitued
board of directors.
3. previous year audit has been conducted by the auditor other than
batliboi & purohit
4. Previous year figures have been regrouped wherever neccessary
5. Company does not have any segment which is reportable as per
Accounting Statdard 17
6. RELATED PARTY DISCLOSURES :
As per Accounting Standard 18, the disclosures of transactions with the
related parties are given below:
(i) List of related parties where control exists and related parties
with whom transactions have taken place and relationships:
Sr.No Name of the Related Party Relationship
1) Mr. Dilip Shah - Key Managerial Person Director
2) Mr. Saurabh Kothari Director
3) Mr.Keyur R Sanghvi Director
4) Mr.Ramesh B Patel Director
5) Ms. Pooja Lodha Director
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