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Notes to Accounts of Cityon Systems (India) Ltd.

Mar 31, 2015

1. No Prior period items are present.

2. The current assets. loans and advances are approximately of the value stated, if realized in the ordinary course of business. The provisions for all known liabilities are adequate and not in excess of the amount considered reasonably necessary. These amount are subject to combination.

3. Gross deprecation for the year Rs. 70,914.00 (Prev. Yr. Rs. 55,569.00).

Company Secretary

4. No Commission on Sales has been paid or is payable as at date.

5.enasure of Segment reporting as per Accounting Standard (As-17) issued by the Institute of Chartered Accountants

6. Disclosure of Related Party Transact ions in accordance with Accounting Standard (AS-IS) "Related Party Disclosures" issued by the Institute of Chartered Accountants of India

Related party where significant influence exists is mentioned below:

Party Relationship

Rich Udyog Network Entity in which Director can exercise significant control

Nfkki Gteba! Finance Ltd. Efrti,y in which Director can exercise significant 1contro1

7. During thenar under consideration no borrowing cost has capitalized by the company in accordance with the Accounting Standard 16. 'Borrowing Cost' issued by the Institute of Chartered Accountants of India.

8. The figure of the previous year have been regrouped/ rearranged wherever necessary in order to make them comparable with the figures of the current year.

9. Figures have been rounded off to the two decimals places.

10. Income Tax department has raised demand of Rs. 3.86,21, 697.00 relating to A.Y. 2011-12 on 31.03.2014. The company has filed appeal against the relevant AO's 'order relating to A.Y. 2011-12 on 24.04.2014 before the First Appellant Authority. This is a contingent liability which has not been provided for in books of accounts.

Oct 25, 12:00 am
Oct 25, 4:14 pm
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