1) Managerial Remuneration: NIL
2) The Company has become a subsidiary of Shri Ramalinga Mills Ltd., Aruppukottai, who, by virtue of conversion of loan into equity by preferential allotment and shares holding 61.63% of the paid up equity share capital of the company as on 31.03.2016.
3. Balance of certain debtors, creditors and Advances are yet to be confirmed and reconciled if any. In the opinion of the management the difference would be insignificant.
4. Income Tax Assessment:
Income-tax Assessments up to the Assessment year 2013-14 were completed. As the Company has no Taxable Income under regular Income or Profit U/s. 115JB of the Income Tax Act, for the assessment year 2016-17, No Provision for Income Tax Liability has been made in the accounts.
5. The Company has not received information from vendors regarding their status under the Micro, Small and Medium Enterprises development Act, 2006 and hence disclosure relating to amounts unpaid as at the yearend together with interest paid/payable under this act has not been given.
6. In the opinion of the Board of Directors the Current Assets, Loans and Advances value as stated in the balance sheet will be realized in the ordinary course of business.
7. Previous year figures have been regrouped and reclassified wherever necessary, to confirm to the years classification.
8. Paisa have been rounded off to the nearest rupee .
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