Mar 31, 2010
1.1.1 There are no Micro, Small and Medium Enterprises, as defined in the Micro, Small and Medium Enterprises Development Act, 2006 to whom the Company owes dues on account of principal amount together with interest and accordingly no additional disclosures have been made. The above information regarding Micro, Small and Medium Enterprises has been determined to the extent such parties have been identified on the basis of the information available with the company.
1.2.2 As per the best estimate of the management, no provision is required to be made as per Accounting Standard (AS 29) as notified by Companies (Accounting Standard) Rules, 2006 in respect of any present obligation as a result of a past event that could lead to probable outflow of resources, which would be required to settle the obligation.
1.2.3 In accordance with the Accounting Standard (AS 28) on "Impairment of Assets" the Management during the year carried out an exercise of identifying the assets that may have been impaired. On the basis of this review carried out by the management, there was no impairment loss on fixed assets during the year ended March 31,2010.
1.2.4 Deferred Tax Asset on book loss is not created on account of uncertainty of the future profitability; despite of the fact company has started earning profit.
1.2.5 There are no amounts due and outstanding to be credited to Investor Education and Protection Fund.
Sundry debtors, Loans and Advances and creditors balances are subject to confirmation, reconciliation and consequent adjustments, if any.
1.2.6 The disclosure requirements in respect of Accounting Standard 18 on "Related Party Disclosures" are as under:
Key Management Personnel Mr.Abhishek Mehta
Mr. Karsan Chitroda
1.2.7 Figures for the previous year have been regrouped / reclassified wherever necessary.
1.2.8 Additional Information as required under Part IV of Schedule VI to the Companies Act, 1956.