| 1. Foreign Currency Transactions :
Rs. 16,26,322/- as Import of Raw Material & Rs. 3,11,284/- as Export of
Finished Goods (Previous year Rs. 27,46,173/- for Import of Raw
Materials and Rs. 28,443/- towards Foreign Travelling).
2. None of the Employees were in receipt of remuneration aggregating
Rs. 3,00,000/- or more per year or Rs. 25,000/- or more per month.
3. Gratuity :
The Liability in respect of gratuity due to employees of the Company
upto 31st March, 2000 on the basis of actual valuation as in terms of
the prevailing provisions of the payment of Gratuity Act, 1972 is
Rs.39,729/-.
4. Secured Loan :
a) From West Bengal Financial Corporation :
Secured against Hypothecation of specified movable assets by way of
exclusive charge, and guaranteed personally by the three Directors of
the Company.
b) From West Bengal Industrial Development Corporation Ltd.
Secured against Hypothecation of specified movable assets by way of
exclusive charge, and guaranteed personally by the three Directors of
the Company.
c) From State Bank of India :
Secured against Hypothecation of Stock of Raw Materials, Stores,
Finished Goods & Book Debts, Plant & Machinery, (excluding item of
machinery and equipments financed by WBFC & WBIDC under ERS on which
they hold exclusive charge), equitable mortgage on Land & Building and
guaranteed personally by the three Directors of the Company.
5. Excise Duty :
Excise duty on manufactured goods is accounted for at the time of their
clearance from the factory rather than at the time of manufacture.
6. Directors Remuneration :
Paid to Mr. Shiv Kr. Paharia and Mr. Umesh Kejariwal amounting to
Rs.1,20,000/- & Rs.1,08,000/- respectively.
7. During the Year the Company has forfeited 12,83,300 Equity Shares
for non-receipt of Call Money there against.
8. Figures for the previous year have been re-grouped and re-arranged
wherever found necessary.
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