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Notes to Accounts of C G Impex Ltd.
Mar 31, 2008
1. Debit and Credit balances are subject to confirmation.
2. In the opinion of the Board of Directors the current assets, loans
and advances are approximately of the value stated, if realised in the
ordinary course of business. All known liabilities including provisions
have been provided for in the books of accounts.
3. Previous years figures are regrouped/recasted wherever necessary
so as to make them comparable with the current years figures.
4. There is no employee in the company drawing salary of more than Rs.
2400000/- for a year or Rs. 200000/- per month if employed for a part
of the year.
5. Income Tax Provision has been made for Rs. 8000000/-. (Previous
year Rs. 12000000/-) v. The company has given Rs. 13301035 as Advances
for Raw Materials upto 31st March,2008 and the company has not received
any Raw Materials during the year.
6. Contingent liabilities are neither estimated nor provided for.
7. Disclosure of DTA/DTL and its effect in the Profit & Loss A/c. as
per Accounting Standard 22 of the ICA.