| Admitted and Other CONTINGENT LIABILITIES AND COMMITMENTS Admitted
& other contingent Liabilities
1 P.S.Approximately Rs.7721 .37 Crores Amount Payable to Law Firm 85 &
other against expenses made and or Guaranteed by them on behalf of
Company as on year ended between 1985 to 31st October 2013 pre and post
incorporation of the Company to be split in different head like
interest out of pocket expenses spent on credit basis promises,
commercial & private debts Travelling conveyances & other Hotel &
Lodging & Boarding Charges for attending various Legal cases before
various Legal casese before various Authorities including Drafting,
correctiong Reading improving, advising communicating, Director,
Chairman Employees, CEO and ther key member of the management team
current and past employees, Director,staff, chairman etc. pleading and
appearing attending & briefing counsels, staff, Employees, Director,
Associates and attending conferences and other professional charges
fees with interest cut of pocket expenses between 1985 to 2013 pre and
post incorporation of the Company in above among other Areas for which
Bills are/ were received and confirmed and recinfirmed by the company
Director, CEO, CFO, Chairman, Director, Board of Directors Generals
Body of Shareholders from time to time
2 Rent & statutory taxes, Legal & professional Charges, License,
charges & Royalties, scrutiny inspection, security & Maintianance
Charges, indeminity Cost/ Charges, Guarantee fee/charges/cost etc., for
receiving advise on various proceeding in various Courts including,
Consumer Forum, Criminal, Civil, Session, High Court, Supreme court,
Company Affairs, SAT, CLB, SEBI, Stock Exchange, Merchant Banking,
Activities, HRD Foreign tie up, Agreement and coilboration etc.,
interest, penalties, penal, interest Damages, Punitive Damages and
various other Charges opportunity cost, defamation charges & penalties
and various others Direct and indirect charges with cost/fees various
others statutory interest and other taxes.
3 Charges, fees /for using professional goodwill, offices professional
contacts and social contacts political contacts and long standing
credits for the benefits of the Company and its business collaborations
contracts and international contacts, Tie ups with world Best
Technology Companies, international political and social contacts, for
its future business, some of them are/were fortune 500 Companies world
wide.
4. a) Outstanding liabilities-amounts payable by Company Rent-Municipal
Taxes-Interest, etc., - Maintainance Repairs - up keeping -
Electricity, etc.,
b) Professional fees-Legal & Service Charges.
c) Fees for Statutory maintainanc-SEBIStock/Exchanges & legal Cases
follow up charges with vaious.
d) Income Tax provident Fund, ESIC-Services-ROC-Sales Tax-Co-ordinating
witn various Govt. authorities, attending engaging varius
lawyers/consultant counsels,etc. and replying attending Incom Tax, CIT,
ITAT, High Court, Sessions Courts, City Civil courts, Supreme Courts
cConsumer/ State and National Forums.
e) Correction of company correspondences, minutes, letters, Draft,
Agreements petitions, legal submission plaints and work related to it,
etc.
f) License Fees-Royalty fees and othes chargse for / using Name /
Brands etc. patent, copyrights and other related Areas, trade names,
trade marks, lie ups. Licenses and Royalty Securities Deposits.
g) Security and other services charges, etc.
h) MPID-SFIO & Other ROC,R& T related work-SEBI & other casese follow
up with different different law firm, lawyers, solicitors, senior
lawyers legal consultants etc. various courts-Authorities-Polie.etc...
i) Correction of Various correspondences,
Details of which were/ are filed by creditors with the Company
5. The outstanding balances of certain Trade Receivables, Trade
Payables, Deposits, Advances and Other Current Assets/ Liabilitis are
subject to confirmation.
6. In the opinion of the Board, the value on realisation of Current
Assets, Loans and Advances in the ordinary course of the business would
not be less than amount at which they are stated in the Balance Sheet
and the provision for all known and determined liabilities is adequate
and not in excess of the amount reasonably required.
7. Figures of the previous year have been regrouped, reclassified and
recasted wherever necessary to make them comparable with those of
current year.
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