| 1 Contingent liabilities not provided for: 31.03.2011 31.03.2010
L/C's issued by Bank 15,405,879 Nil
Bank Guarantee 234,726 Nil
2 Breakup of expenditure incurred on the employees who were in receipt
of remuneration aggregating to Rs.24,00,000/- or more per annum, if
employed through out the year, or Rs. 2,00,000- per month if employed for
198,540 92,725
3 EMPLOYEE BENEFITS
Gratuity has been charged in the accounts on the basis of last year's
provisions as actuarial valuation was not available.
4 Statutory Dues like ESI and PF are not deposited for more than six
months.
5 There are no Micro, Small and medium Enterprise to whom the company
owes dues, which are outstanding for more than 45 Days at the balance
sheet date. The information regarding Micro, Small, and Medium
Enterprise has been determined to the extent such parties have been
identified on the basis of data available with the company
6 Segment Reporting
The Board of Directors of the Company consider and Maintain "Footwear
as the only business segment of the Company.
7 Deferred Tax Liability/Assets
Deferred Tax Liability/Assets has been arrived at after considering the
timing difference on account of depreciation allowable under the
Companies Act and Income Tax Act.
8 Income tax assessment has been completed up to A.Y 2008-09. Demand of
Rs.46.66 Lacs has been created in respect of various years against
which company has preferred appeals which are pending. No provision has
been made in the account as company is hopeful that demand created will
be knocked off in appeals.
9 Sales tax assessment have been completed up to 2007-08. Demand of
Rs.106.31 Lacs Is created including demand of Rs.104.65 Lacs pending
against "C" Forms. Company is of the view that the above demand will be
substantially reduced on receipt of Forms. For the remaining
amount company is seeking opinion for the appeal. As a result no
provision has been made in the books of account.
10 Previous year's figures have been re-arranged/ regrouped wherever
considered necessary, Figures in bracket pertains to previous year.
11 Figures have been rounded off to the nearest Rupee's
| 