1) Contingent Liabilities not provided for in respect of :-
a) Dsiputed demand from commercial Tax Authority Rs 1.35 lacs for
financial year 2001 -02 (Previous year Rs 1.35 lacs) is under appeal
with Deputy Tax Officer,Commercial Taxes Spl-4, Jaipur
b) Leasehold land for a period of 99 years from 19th August 1994 is
standing in accounts as per payments made, to be amortised on
settlement of premium with the lessor.
2) As per Accounting Standard 15 Related to Employees Benefit following
disclosures are given ;-
(A) The Company regularly considers its Liability for employees as
defined benefit obligation. Provision for gratuity are made on
actuarial valuation of the present value of defined benefit obligations
made at intervals not exceeding three years. But from this year the
number of employeses being very less, the Employees Gratuity liability
has been estimated by the company.
3) Disclosure of Sundry Creditor under Current Liability in regard to
the amounts due to entities covered under under the Micro.Small and
Medium Enterprises Development Act,2006(MSMED Act 2006).In this
respect, company at the time of negotiating the transaction of
purchases, required the suppliers to inform whether any suppliers of
goods on credit was coming under the provision of the Micro.Small and
Medium Enterprises Development Act 2006,but no information in this
matter was received from any such Vendors, as a result following
information required to be furnised under the provisions of MSMED
Act,2006 could not be furnised
The company has not received any inofrmation from any of its suppliers
(Creditors) of their status of being a Small Scale Industrial (SSI)
unit. Hence the amount, if any due to any such unit as on date of
balance sheet is not ascertainable.
4) As per approval of Remuneration Committee the Managing Director was
paid the following remuneration' in accordance with Section II of
Part II of Schedule XIII of the companies Act, 1956
5) No person was employed by the company either throughout the year or
for a part of the year under review, whose remuneration for the year in
aggregate was not less than Rs 24,00,000/- or Rs 2,00,000 per month
when employed for any part of the Finacial Year.
6) Related party disclosures Relationships with Related Party
i) Enterprises in which Key Management personnel have significant
Infulence :
a) Arvind Coir Foam Private Limited ( ACFPL)
b) Asthavinayak Enterprises Private Limited.( AEPL)
c) Arvind Bajoria ( AB )
d) Anupama Bajoria (ANB )
e) Ruchika Bajoria (RB)
ii) Key Management Personnel : Sri Arvind Bajoria Managing Director
7) Prevoius year Figures have been regrouped and/or rearranged
wherever found necessary in accordance with Revised Form of Schedule VI
of the Companies Act, 1956.
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