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Accounting Policies of Garware Synthetics Ltd. Company

Mar 31, 2015

The financial statements of the Company have been prepared in accordance with the Generally Accepted Accounting Principles in India under the historical cost convention on accrual basis, except for certain tangible assets which are being carried at revalued amounts, pursuant to section 133 of the companies Act, 2013 read with Rule 7 of the Companies (Accounts) Rules, 2014, till the standards of accounting or any addendum thereto are prescribed by the Central Government in consultation and recommendation of the National Financial Reporting Authority, the Existing Accounting standard notified under Companies Act, 1956 shall continue to apply, Consecutively, these financial statements have been prepared to comply in all material aspects with the accounting standards notified under Section 211(3C) of the Companies Act, 2013.

All the assets and liabilities have been classified as current or noncurrent as per the normal operating cycle and other criteria set out in Schedule II to the companies Act, 2013.

1.1 Use of Estimates

The preparation of the financial statements is in conformity with Indian GAAP requires the Management to make estimates and assumptions considered in the reported amounts of assets and liabilities (including contingent liabilities) and the reported income and expenses during the year. The Management believes that the estimates used in preparation of the financial statements are prudent and reasonable. Future results could differ due to these estimates and the differences between the actual results and the estimates are recognized in the periods in which the results are known / materialize.

1.2 Inventories

Inventories are valued as under: - Raw Materials, Packing Materials, Stores & Spares are valued at cost on FIFO basis after making provision for obsolescence & un-serviceability. - FINISHED GOODS & WORK IN PROGRESS at lower of cost or net realizable value. Cost comprises Material cost, cost of conversion, other expenses incurred to bring the inventories to their current condition and location.

1.3 Depreciation and Amortization

Pursuant to the enactment of Companies Act 2013, the company has applied the estimated useful lives as specified in Schedule II of the Act. Accordingly, the unamortized carrying value is being depreciated / amortized over the revised/ remaining useful lives. The Carrying value (Net of Residual Value) of Fixed Assets amounting to Rs. 28,54,761/- whose lives have expired as at 1st April 2014 have been recognized in Retained Earnings.

1.4 Revenue Recognition

- Revenues/Incomes and Costs are generally accounted on accrual, as they are earned or incurred.

- Sales are recognized upon delivery of products and are recorded net of excise duty, VAT/CST.

1.5 Tangible Fixed Assets

Fixed assets are stated at cost of acquisition, including any attributable cost for bringing the asset to its working conditions for the intended use, less accumulated depreciation.

1.6 Investments

Long-term investments are stated at cost less provision for diminution in value, other than temporary. Current investments are stated at the lower of cost and fair value.

1.8 Employee Benefits

Employee benefits includes provident fund, gratuity fund, Leave encashment which are accounted on the basis of liability accrued. Leave Travelling Allowance has been charged to statement of Profit & Loss A/c as and when incurred.

1.9 Borrowing Costs

The company has not incurred any borrowing cost during the year.

1.10 Earnings per Share

Basic earnings per share is computed by dividing the profit after tax by the number of equity shares by the weighted average number of equity shares outstanding during the year.

For the Purpose of calculating diluted earnings per share, the net profit for the year are adjusted for the effect of all dilutive potential equity shares.

1.11 Taxes on Income

Deferred tax is measured based on the tax rates and the tax laws enacted or substantively enacted at the Balance Sheet date. Deferred tax assets are recognized only to the extent that there is reasonable certainty that sufficient future taxable income will be available against which such deferred tax assets can be realized. In situations where the company has unabsorbed depreciation or carry forward tax losses, all deferred tax assets are recognized only if there is virtual certainty supported by convincing evidence that they can be realized against future taxable profits.

1.12 Impairment of Assets

The carrying amounts of assets / cash generating units are reviewed at each Balance Sheet date to assess whether there is any indication of impairment based on internal / external factors. After review of this year, no impairment is recognized, as there was no necessity.

1.13 Provisions and Contingencies

A provision is recognized when the Company has a present obligation as a result of past events and it is probable that an outflow of resources will be required to settle the obligation in respect of which a reliable estimate can be made. Provisions (excluding retirement benefits) are not discounted to their present value and are determined based on the best estimate required to settle the obligation at the Balance Sheet date. These are reviewed at each Balance Sheet date and adjusted to reflect the current best estimates. Contingent liabilities are disclosed in the Notes.

1.14 Cash and Cash Equivalents (for purposes of Cash Flow Statement) Cash comprises cash on hand and bank balances in current account.

1.15 Cash flow statement

Cash flows are reported using the indirect method, whereby profit before extraordinary items and tax is adjusted for the effects of transactions of non-cash nature and any deferrals or accruals of past or future cash receipts or payments. The cash flows from operating, investing and financing activities of the Company are segregated based on the available information.

1.16 Segment Reporting

Geographical Segment

Company's entire business is conducted within India but there are no separate reportable geographical segments.

1.17 Other Notes

a) Previous year figures are regrouped wherever necessary to make them comparable with the figures of the current year.

b) Balances of loans/advances/ sundry creditors and debtors are subject to confirmation and adjustment if any.

c) In the opinion of Board of Directors the Current Assets, Loans and advances are stated at net realizable value in the ordinary course of business.

d) In case of few creditors, actual liability does not arise during the year since it has been paid off in the past years and therefore company has written back the same during the year.

e) Certain legal cases are pending with the court of law, the quantum of the same is not ascertainable. However, the management is of the opinion that, decision of the court will be in favor of the company.

f) There are certain banks accounts which are non-operative for a longer period and bank statements are not available and the balances of such bank accounts are subject to reconciliation if any.

g) In the absence of adequate information regarding the SSI Creditors, the Company is unable to give full particulars as required by Notification No. GSR - 376 (E) dated 22nd May 2002 issued by the Department of Company Affairs, Ministry of Law and Justice and Company Affairs.

h) In view of absence of adequate profits in terms of Section 198 and 197 of the Companies Act, 2013 commission is not payable to the Managing Director.

i) Unless otherwise stated, in the opinion of the Board of Directors, the current assets, loans and advances are approximately of the value if realized in the ordinary course of business. The provisions for all known liabilities made are adequate and are neither short nor in excess of the amount reasonably necessary.


Mar 31, 2014

1.1 Basis of Accounting and Preparation of Financial Statements

The financial statements of the Company have been prepared in accordance with the GenerallyAcceptedAccounting Principles in India (Indian GAAP) to comply with the Accounting Standards notified under the Companies (Accounting Standards) Rules, 2006 (as amended) and the relevant provisions of the Companies Act, 1956. In applying the Accounting Policies, considerations have been given to prudence, substance over form and Materiality. The financial statements have been prepared on accrual basis under the historical cost convention. The accounting policies adopted in the preparation of the financial statements are consistent with those followed in the previous year.

Assets and Liabilities are classified as current if it is expected to release or settle within 12 Months after Balance Sheet date.

1.2 Use of Estimates

The preparation of the financial statements is in conformity with Indian GAAP requires the Management to make estimates and assumptions considered in the reported amounts of assets and liabilities (including contingent liabilities) and the reported income and expenses during the year. The Management believes that the estimates used in preparation of the financial statements are prudent and reasonable. Future results could differ due to these estimates and the differences between the actual results and the estimates are recognized in the periods in which the results are known / materialize.

1.3 Inventories

Inventories are valued as under: - Raw Materials, Packing Materials, Stores & Spares are valued at cost on FIFO basis after making provision for obsolescence & un-serviceability. - FINISHED GOODS & WORK IN PROGRESS at lower of cost or net realizable value. Cost comprises Material cost, cost of conversion, other expenses incurred to bring the inventories to their current condition and location.

1.4 Depreciation and Amortization

Depreciation on fixed assets has been provided on Straight line method as per the rates and in the manner prescribed in Schedule XIV to the Companies Act, 1956.

1.5 Revenue Recognition

Sales are recognized upon delivery of products and are recorded net of excise duty, VAT/CST.

1.6 Tangible Fixed Assets

Fixed assets are stated at cost of acquisition, including any attributable cost for bringing the asset to its working conditions for the intended use, less accumulated depreciation.

1.7 Investments

Long-term investments are stated at cost less provision for diminution in value, other than temporary. Current investments are stated at the lower of cost and fair value.

1.8 Employee Benefits

Employee benefits includes provident fund, gratuity fund, Leave encashment which are accounted on the basis of liability accrued.

1.9 Borrowing Costs

The company has not incurred any borrowing cost during the year.

1.10 Earnings per Share

Basic earnings per share are computed by dividing the profit after tax by the number of equity shares outstanding during the year. Since there are no dilutive potential equity shares, Diluted earnings per share is computed in the manner same as used for basic earnings per share.

1.11 Taxes on Income

Deferred tax is measured based on the tax rates and the tax laws enacted or substantively enacted at the Balance Sheet date. Deferred tax assets are recognized only to the extent that there is reasonable certainty that sufficient future taxable income will be available against which such deferred tax assets can be realized. In situations where the company has unabsorbed depreciation or carry forward tax losses, all deferred tax assets are recognized only if there is virtual certainty supported by convincing evidence that they can be realized against future taxable profits.

1.12 Impairment of Assets

The carrying amounts of assets / cash generating units are reviewed at each Balance Sheet date to assess whether there is any indication of impairment based on internal / external factors. After review of this year, no impairment is recognized, as there was no necessity.

1.13 Provisions and Contingencies

A provision is recognized when the Company has a present obligation as a result of past events and it is probable that an outflow of resources will be required to settle the obligation in respect of which a reliable estimate can be made. Provisions (excluding retirement benefits) are not discounted to their present value and are determined based on the best estimate required to settle the obligation at the Balance Sheet date. These are reviewed at each Balance Sheet date and adjusted to reflect the current best estimates. Contingent liabilities are disclosed in the Notes.

1.14 Cash and Cash Equivalents (for purposes of Cash Flow Statement)

Cash comprises cash on hand and bank balances in current account. Cash equivalents are short-term balances (with an original maturity of three months or less from the date of acquisition), highly liquid investments that are readily convertible into known amounts of cash and which are subject to insignificant risk of changes in value.

1.15 Cash flow statement

Cash flows are reported using the indirect method, whereby profit before extraordinary items and tax is adjusted for the effects of transactions of non-cash nature and any deferrals or accruals of past or future cash receipts or payments. The cash flows from operating, investing and financing activities of the Company are segregated based on the available information.

1.16 Segment Reporting

Geographical Segment

Company''s entire business is conducted within India but there are no separate reportable geographical segments.

1.17 Related Party Disclosure

The Company has entered into transaction with related parties during the current year, however the terms are not prejudicial to the interest of the company.

1.18 Other Notes

i. Previous year figures are regrouped wherever necessary to make them comparable with the figures of the current year.

ii. Balances of loans/advances/ sundry creditors and debtors are subject to confirmation and adjustment if any.

iii. In the opinion of Board of Directors the Current Assets, Loans and advances are stated at net realizable value in the ordinary course of business.

iv. A sum of Rs 30,82,671/- (P.Y. Rs. 51,76,090/-) is written back in the accounts being liability towards creditors, M/S K.M Enterprise. It is the management contention that the suit filed by the creditors will be decided in company''s favor. However as the decision of the court is still pending, in our opinion the liability is not yet discharged and this amount should not be offered for tax while filing the income tax return.

v. During the year, term loan with UTI amounting to Rs.50,00,000 which was outstanding at the beginning of the year and loan has been discharged by paying off Rs. 35,00,000/- in full and final settlement and the balance of Rs. 15,00,000/- has been written back in the accounts.

vi. In case of few creditors, actual liability does not arise during the year since it has been paid off in the past years and therefore company has written back the same during the year.

vii. Certain legal cases are pending with the court of law, the quantum of the same is not ascertainable. However, the management is of the opinion that, decision of the court will be in favor of the company.

viii. There are certain banks accounts which are non-operative for a longer period and bank statements are not available and the balances of such bank accounts are subject to reconciliation if any.

ix. In the absence of adequate information regarding the SSI Creditors, the Company is unable to give full particulars as required by Notification No. GSR - 376 (E) dated 22nd May 2002 issued by the Department of Company Affairs, Ministry of Law and Justice and Company Affairs.

x. In view of absence of adequate profits in terms of Section 349 and 309 of the Companies Act, 1956 commission is not payable to the Managing Director.

xi. Unless otherwise stated, in the opinion of the Board of Directors, the current assets, loans and advances are approximately of the value if realised in the ordinary course of business. The provisions for all known liabilities made are adequate and are neither short nor in excess of the amount reasonably necessary.

xii. Balances amounting to Rs. 10,04,691/- (P.Y. 8,27,417/-) with various banks are subject to confirmation and reconciliation (if any).

xiii. Figures in Brackets in the Notes forming part of the accounts relate to the previous year.


Mar 31, 2013

1.1 Basis of Accounting and Preparation of Financial Statements

The financial statements of the Company have been prepared in accordance with the Generally Accepted Accounting Principles in India (Indian GAAP) to comply with the Accounting Standards notified under the Companies (Accounting Standards) Rules, 2006 (as amended) and the relevant provisions of the Companies Act, 1956. In applying the Accounting Policies, considerations have been given to prudence, substance over form and Materiality. The financial statements have been prepared on accrual basis under the historical cost convention. The accounting policies adopted in the preparation of the financial statements are consistent with those followed in the previous year.

1.2 Use of Estimates

The preparation of the financial statements is in conformity with Indian GAAP requires the Management to make estimates and assumptions considered in the reported amounts of assets and liabilities (including contingent liabilities) and the reported income and expenses during the year. The Management believes that the estimates used in preparation of the financial statements are prudent and reasonable. Future results could differ due to these estimates and the differences between the actual results and the estimates are recognized in the periods in which the results are known / materialize.

1.3 Inventories

Inventories are valued as under : - Raw Materials, Packing Materials, Stores & Spares are valued at cost on FIFO basis after making provision for obsolescence & un-serviceability. - FINISHED GOODS & WORK IN PROGRESS at lower of cost or net realizable value. Cost comprises Material cost, cost of conversion, other expenses incurred to bring the inventories to their current condition and location.

1.4 Depreciation and Amortization

Depreciation on fixed assets has been provided on Straight line method as per the rates and in the manner prescribed in Schedule XIV to the Companies Act, 1956.

1.5 Revenue Recognition

Sales are recognized upon delivery of products and are recorded inclusive of excise duty but are net of VAT/CST.

1.6 Tangible Fixed Assets

Fixed assets are stated at cost of acquisition, including any attributable cost for bringing the asset to its working conditions for the intended use, less accumulated depreciation.

1.7 Investments

Long-term investments of the company in the form of equity shares have been assigned at the book value to the creditor of the company and there is no gain/loss on such assignments.

1.8 Employee Benefits

Employee benefits includes provident fund, gratuity fund, Leave encashment which are accounted on the basis of liability accrued.

1.9 Borrowing Costs

The company has not incurred any borrowing cost during the year.

1.10 Earnings per Share

Basic earnings per share is computed by dividing the profit after tax by the number of equity shares outstanding during the year. Since there are no dilutive potential equity shares, Diluted earnings per share is computed in the manner same as used for basic earnings per share.

1.11 Taxes on Income

Deferred tax is measured based on the tax rates and the tax laws enacted or substantively enacted at the Balance Sheet date. Deferred tax assets are recognized only to the extent that there is reasonable certainty that sufficient future taxable income will be available against which such deferred tax assets can be realized. In situations where the company has unabsorbed depreciation or carry forward tax losses, all deferred tax assets are recognized only if there is virtual certainty supported by convincing evidence that they can be realized against future taxable profits.

1.12 Impairment of Assets

The carrying values of assets / cash generating units at each Balance Sheet date are reviewed for impairment. After review of this year, no impairment is recognized, as there was no necessity.

1.13 Provisions and Contingencies

A provision is recognized when the Company has a present obligation as a result of past events and it is probable that an outflow of resources will be required to settle the obligation in respect of which a reliable estimate can be made. Provisions(excluding retirement benefits) are not discounted to their present value and are determined based on the best estimate required to settle the obligation at the Balance Sheet date. These are reviewed at each Balance Sheet date and adjusted to reflect the current best estimates. Contingent liabilities are disclosed in the Notes.

1.14 Cash and Cash Equivalents (for purposes of Cash Flow Statement)

Cash comprises cash on hand and bank balances in current account. Cash equivalents are short-term balances (with an original maturity of three months or less from the date of acquisition), highly liquid investments that are readily convertible into known amounts of cash and which are subject to insignificant risk of changes in value.

1.15 Cash flow statement

Cash flows are reported using the indirect method, whereby profit before extraordinary items and tax is adjusted for the effects of transactions of non-cash nature and any deferrals or accruals of past or future cash receipts or payments. The cash flows from operating, investing and financing activities of the Company are segregated based on the available information.

1.16 Segment Reporting

Geographical Segment

Company''s entire business is conducted within India but there are no separate reportable geographical segments.

1.17 Related Party Disclosure

The Company has entered into transaction with related parties during the current year, however the terms are not prejudicial to the interest of the company.

1.18 Other Notes

A sum of Rs 51,76,090/- written back in the accounts being liability towards creditors. It is the management contention the suit filed by creditors will be decided in company''s favor. However as the decision of the court is still pending, in our opinion the liability is not yet discharged and this amount should not be offered for tax while filling the Income tax return.


Mar 31, 2012

A. Basis of preparation ,

1. These financial statement have been prepared in accordance with the generally accepted accounting principles in India under historical cost convention on accrual basis.

2. The Company generally follows mercantile system of Accounting

B. Revenue Recognition

Sales and Purchase are net of VAT and CST

C. Use of Estimates The preparation of financial statements in conformity with generally accepted accounting principles requires estimates and assumptions to be made that affect the reported amount of assets and liabilities on the date of the financial statement and the reported amounts of revenue and expenses during the reporting period. Difference between the actual results and estimates are recognised in the period in which the results are known/ materialised.

D. Fixed Assets

Assets are stated at original cost of acquisition and installation less Depreciation.

E. Depreciation

Depreciation on fixed assets is provided on straight line method at the rate and in the manner prescribed in Schedules XIV of the Companies act, 1956.

- On written down value method on all assets purchased before 01.04.78

- On Straight line method on the original cost and additions on revaluation for all assets purchased after 31.03.78

- Depreciation on addition of assets is calculated on pro-rata basis.

F. Investment

Long Term Investments are stated at cost. Provision for diminution in the value of the investments is made, only if such a decline is other than of a temporary nature in the opinion of the management.

G. Inventories

Inventories are valued as under:

- Raw Materials, Packing Materials, Stores and Spares are valued at cost on FIFO basis after making provision for obsolescence and un-serviceability.

- STOCK - IN - PROCESS is valued at direct cost.

- FINISHED GOODS at lower of cost or net realisable value. Cost comprises Material cost, cost of conversion, other expenses incurred to bring the inventories to their current condition and location.

H. EMPLOYEE BENEFITS:

The Company is making payment of ESIC, Provident Fund and other statutory dues however, it has failed to deposit the same on due date.

I. Retirement Benefit

During the year provision are made in the books of accounts for the Retirement benefits.

J. Borrowing Cost

Interest and other borrowing costs whether on specific or general borrowings relatable to qualifying assets are capitalised. Other interest and borrowing costs are charged to revenue.

K. PROVISION FOR CURRENT AND DEFERRED TAX

Provision for current tax is made using the current tax rates and as per the provisions of Income Tax Act 1961.

Deferred tax resulting from "timing differences" between book and taxable profit is accounted for using the tax rates and laws that have been enacted or substantively enacted as on the balance sheet date. The deferred tax asset is recognised and carried forward only to the extent that there is reasonable certainty that the asset will be realised in future.

L. PROVISION OF CONTINGENT LIABILITIES

Provision involving substantial degree of estimation in measurement is recognized when there is present obligation as a result of past events and it is probable that there will be an outflow of resources. Contingent liabilities are not recognized but are disclosed in the notes (if any).

M. Segment Reporting Geographical Segment

Company's entire business is conducted within India but there are no separate reportable geographical segments.

N. Related Party Disclosure

The Company has entered into transaction with related parties during the current year, however the terms are not prejudicial to the interest of the company.


Mar 31, 2011

1. METHOD OF ACCOUNTING: The Company maintains its accounts on accrual basis.

2. PROVISION OF CONTINGENT LIABILITIES: Provision involving substantial degree of estimation in measurement is recognized when there is present obligation as a result of past events and it is probable that there will be an outflow of resources. Contingent liabilities are not recognized but are disclosed in the notes (if any).

3. FIXED ASSETS: Fixed Assets are stated at original cost of acquisition and installation less Depreciation.

4. DEPRECIATION: Depreciation on fixed assets is provided on straight line method at the rate and in the manner prescribed in Schedules XIV of the Companies act, 1956.

- On written down value method on all assets purchased before 01.04.78

- On Straight line method on the original cost and additions on revaluation for all assets purchased after 31.03.78

- Depreciation on addition of assets is calculated on pro-rata basis.

5. INVESTMENTS: Long Term Investments are stated at cost. Provision for diminution in the value of the investments is made, only if such a decline is other than of a temporary nature in the opinion of the management.

6. INVENTORY : Inventories are valued as under :

- Raw Materials, Packing Materials, Stores and Spares are valued at cost on FIFO basis after making provision for obsolescence and un-serviceability.

- STOCK - IN - PROCESS is valued at direct cost.

- FINISHED GOODS at lower of cost or net realisable value. Cost comprises Material cost, cost of conversion, other expenses incurred to bring the inventories to their current condition and location.

7. TREATMENT OF RETIREMENT BENEFITS: During the year no provision are made in the books of accounts for the Retirement benefits.

8. SALES: Sales and purchases are net of VAT and CST.

9. The preparation of financial statement in conformity with generally accepted accounting principles requires estimates and assumption to be made that affect the reported amount of assets and liabilities on the date of the financial statements and the reported amounts of revenue and expenses during the reporting period. Differences between the actual results and estimates are recognised in the period in which the results are known /materialized.

10. Interest and other borrowing costs whether on specific or general borrowings relatable to qualifying assets are capitalised. Other interest and borrowing costs are charged to revenue.

11. In view of accounting standard 22, the incidence of deferred tax liability on the company for the year under audit is NIL.

12. Figures of the previous year have been regrouped, and reclassified and rounded off wherever necessary to confirm to the current years figures.

13. Revaluation of plant and machinery and building has been made during the year ended 31st March, 1992 on the basis of valuation report submitted by Mr. V.S. Pandit. The increase in value of these assets amounting to Rs. 14.79 Crores has been credited to the Capital Reserve.


Mar 31, 2010

1. METHOD OF ACCOUNTING: The Company maintains its accounts on accrual basis.

2. PROVISION OF CONTINGENT LIABILITIES: Provision involving substantial degree of estimation in measurement is recognized when there is present obligation as a result of past events and it is probable that there will be an outflow of resources. Contingent liabilities are not recognized but are disclosed in the notes (if any).

3. FIXED ASSETS: Fixed Assets are stated at original cost of acquisition and installation less Depreciation.

4. DEPRECIATION: Depreciation on fixed assets is provided on straight line method at the rate and in the manner prescribed in Schedules XIV of the Companies act, 1956.

- On written down value method on all assets purchased before 01.04.78

- On Straight line method on the original cost and additions on revaluation for all assets purchased after 31.03.78

- Depreciation on addition of assets is calculated on pro-rata basis.

5. INVESTMENTS: Long Term Investments are stated at cost. Provision for diminution in the value of the investments is made, only if such a decline is other than of a temporary nature in the opinion of the management.

6. INVENTORY : Inventories are valued as under :

- Raw Materials, Packing Materials, Stores & Spares are valued at cost on FIFO basis after making provision for obsolescence & un-serviceability.

- STOCK - IN - PROCESS is valued at direct cost.

- FINISHED GOODS at lower of cost or net realisable value. Cost comprises Material cost, cost of conversion, other expenses incurred to bring the inventories to their current condition and location.

7. TREATMENT OF RETIREMENT BENEFITS: During the year no provision are made in the books of accounts for the Retirement benefits.

8. SALES: Sales and purchases are net of VAT and CST.

9. The preparation of financial statement in conformity with generally accepted accounting principles requires estimates and assumption to be made that affect the reported amount of assets and liabilities on the date of the financial statements and the reported amounts of revenue and expenses during the reporting period. Differences between the actual results and estimates are recognised in the period in which the results are known /materialized.

10. Interest and other borrowing costs whether on specific or general borrowings relatable to qualifying assets are capitalised. Other interest and borrowing costs are charged to revenue.

11. In view of accounting standard 22, the incidence of deferred tax liability on the company for the year under audit is NIL.

12. Figures of the previous year have been regrouped, and reclassified and rounded off wherever necessary to confirm to the current year's figures.

13. Revaluation of plant & machinery and building has been made during the year ended 31st March, 1992 on the basis of valuation report submitted by Mr. V.S. Pandit. The increase in value of these assets amounting to Rs. 14.79 Crores has been credited to the Capital Reserve.

 
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