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.