| 1. In the opinion of the Board of Directors, Current Assets, Loans and
Advances have realizable value at least equal to amount stated in
Balance Sheet in the ordinary Course of Business. Further, Balance of
Sundry Debtors, Loans and Advances are subject to confirmation &
reconciliation.
2. Contingent Liabilities
Contingent liability as on date of Balance Sheet and not provided in
books of Account
- LC in favor of Foreign Parties for US $ 200400 against Security of
STDR
3. Terms & Condition and Security of Secured Loans taken from Bank
- Term loan from State Bank of India is secured by way of
hypothecation of stock of raw materials, work in progress, finished
goods, and also by way of a charge created over Land of the Company in
favour of Banks.
- Advance against STDR of Rs. 13.50 Lacs was obtained from State Bank
of India out of STDR of Rs. 27.50 Lacs made during previous financial
year.
4. The company has no information from its suppliers/vendors regarding
their status under the Micro Small & Medium Enterprises Development
Act, 2006. Hence, disclosures regarding their unpaid dues of the
year-end together with interest paid or payable under the said Act have
not been given.
5. Tax Expense
Tax expense comprise of current tax. Current income tax is measured at
the amount expected to be paid to the tax authorities in accordance
with the provision contained under Income Tax Act, 1961 enacted in
India.
6. None of the employees of the company were in receipt of a
remuneration exceeding Rs.60,00,000/-per annum or Rs.5,00,000/-per
month, if employed for part of the year.
7. No provision for listing fee payable to various stock exchanges has
been made in the books of accounts.
8. The Previous year's figures have been regrouped, restated and
reclassified wherever necessary. Till the year ended on 31st March,
2011 the company was using pre-revised Schedule VI of the Companies
Act, 1956 for presentation of its financial statement. During the year
ended 31st March, 2012 the revised Schedule VI as notified under the
Companies Act, 1956, has become applicable to the company. The company
has reclassified previous year figures to confirm to this year's
classification as per revised schedule VI.
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