| 1. In the opinion of the Board the value of realization of current
assets, loans & advances in the ordinary course of business would not
be less than the amount at which they are stated in the Balance Sheet &
the provisions for all the loans & determined liabilities is adequate
and not in excess of the amount.
2. Provision for retirement benefits to employees was not provided on
accrual basis, which is not in conformity with Accounting Standard-15
issued by ICAI and the amount has not been quantified because actuarial
valuation report is not available. However, in the opinion of the
management the amount involved is negligible and has no material impact
on the Statement of Profit & Loss.
3. According to a technical assessment carried out by the Company,
there is no impairment in the carrying cost of cash generating units of
the Company in terms of accounting standards-28 issued by the Institute
of Chartered Accountants of India.
4. Accounts payable to Small Scale Industrial Undertaking under the
head of Sundry Creditors - NIL (Previous Year - NIL)
5. Related Party Transaction :
Related Parties and Nature of Relationship:
Related'Party Nature of Relation ship.
KAVYA AMIT DIGVIJAY SINGH Key Managerial Personal
VIJAY DASHRATH BHAGAT Director
NAVMEET ARORA Director.
PURABI JHAVERI Director
Note: Related Parties as disclosed by the management and relied upon by
auditors. Related Party Transaction
6. The Revised Schedule VI has become effective from 1 April, 2011 for
the preparation of financial statements. This has significantly
impacted the disclosure and presentation made in the financial
statements. Previous year's figures have been regrouped/reclassified
wherever necessary to correspond with the current year's
classification/disclosure.
7. During the financial year 2013-14 Company has issued 6,25,000 Zero
Percent Convertible Preference shares of Rs.10/- each and Premium
amount of Rs. 2/-each.
8. In accordance with Accounting Standard 22 (AS 22) issued by the
ICAI, the Company has accounted for deferred income tax Liability
during the year of Rs 58,47,561.87
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