| (A) Rights, preferences and restrictions attached to shares
EQUITY SHARES
The company has one class of equity shares having a par value of Rs. 10
each.
PREFERENCE SHARES
The 12% Redeemable Preference Shares are redeemable at Rs. 10 per
share.
* Securities pledged for loans obtained by associate concerns from a
bank -* Shares lying with CBI
1. Contingent liabilities' not provided for:
Income-tax Rs 2,53,87,549 (previous year Rs 2,53.87,549)
2. (a) The Tax Recovery Of (TRO) has passod order sunder secaon 226
of the lncome-taxAcl,1961 for attachment of credit balances lying in
some bank accounts and has commenced recovery proceedings under section
222.
(b) Certain cases have been filed by Serious Fraud Investigation Office
(SFIO) for alleged violation of the provisions of the Companies Act,
1956 before the Chief Metropolitan (CMM) Court, the same are pending
disposal.
3. Sundry debtors Rs100,222,765 (previous year Rs 99,794,054) and Loan
& Advances of Rs 68,081,319 (previous year Rs 77,825,000) due from an
associate company Notwithstanding the financial and legal matters
involving the said company, the Management is hopeful of recovering the
amount and no provision is presently considered necessary.
4. In terms of Accounting standard 17, "Segment Reporting* issued by
the Institute of Chartered Accountants of India, no reporting is
required to be made as the Company has not undertaken any trading
activity during the year under review.
5. In terms of Accounting standard 22, "Accounting for taxes on
income* issued by the Institute of Chartered Accountants of India, the
Deferred Tax Assets have tnt been created in the accounts for the year
ended 31st March, 2015 as the Company considers that there is no
reasonable certainty of sufficient future taxable Income being
available against which such deferred tax assets can be
realized/utilized.
6. The carrying amounts of assets are reviewed at each balance sheet
date V there Is any indication of impairment based on internal/external
factors i.e. when the carrying amounts of these assets exceeds the
recoverable amount, an impairment loss is charged to the profit arid
loss account in the year in which an asset is identified as impaired.
An impairment toss recognized in prior accounting periods is reversed
or reduced If there has been a favorable change in the estimate of
recoverable amount
7. There are no dues / overdoes to Smal Scale and/or Anwar Industrial
Suppliers on account of principal and/or Interest as at the close of
the year.
8. (a) Previous year's figures have been regrouped, re-arranged and /
or recast, wherever considered necessary to correspond with current
year's classification / disclosures.
(b) Figures have been rounded-off to the nearest rupee.
9. Information pursuant to Part II of Revised Schedule VI of the
Companies Act, 1956 are given to the extent they are applicable to the
Company.
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