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Notes to Accounts of Alora Trading Company Ltd.

Mar 31, 2015

I. Contingent Liabilities: Nil

II. In the opinion of the Board of Directors, the current assets, loans and advances are stated in the balance sheet at the value which, if realized in the normal course of business, would not be less than the amount at which they are stated in the balance sheet.

III. Balances with sundry debtors, other advances received/given are subject to confirmation. Various transactions relating to the business of the company entered into with different parties are also subject to confirmation.

IV. Any statutory liability arising in future out of business transactions shall be accounted for on cash basis.

V. Bank confirmation in respect of Allahabad Bank, Kolkata having balance of Rs.5,713.67/- is not available. However, there was no transaction with the bank during the year.

VI. As a matter of prudence and future possibility of adjustment of unabsorbed carry forward losses. No adjustment has been made for Deferred Tax Asset in the books of accounts.

VII. Previous year figures are regrouped /rearranged and recast wherever considered necessary.


Mar 31, 2012

1. Contingent Liabilities not provided for in respect of Income Tax demands pending appeals Amount Unascertained(Amount Unascertained)

2. In the opinion of the Board of Directors, the current assets, loans and advances are stated in the balance sheet at the value which, if realised in the normal course of business, would not be less than the amount at which they are stated in the balance sheet.

3. Balances with sundry debtors, other advances received/given are subject to confirmation. Various transactions relating to the business of the company entered into with different parties are also subject to confirmation.

4. Any statutory liability arising in future out of business transactions shall be accounted for on cash basis.

5. As a matter of prudence and future possibility of adjustment of unabsorbed carry forward losses. No adjustment has been made for Deferred Tax Asset in the books of accounts.

6. Disclosure on Related Party Transactions pursuant to Accounting Standard - 18 are given bellow.

1) List of Related Party

(a) Where Control Exists 1. M/s. Bagla Polifilms Limited

2. M/s. Bagla Polifilms Private Limited

3. M/s. Hindustan Adheshive Limited Consumers

5. M/s. Agrwal Tracom Private Limited

(b) Key Management Personnel Nil

(c) Relative of Key Management Personnel

(with whom transaction have been taken place Nil during the year)

(d) Other related parties 1. Shree Iswer Satyanaraynjee & O.D.

7. Previous year figures are regrouped/rearranged and recast wherever considered necessary.

 
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