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Notes to Accounts of GCV Services Ltd.
Mar 31, 2010
1) The schedules referred to in the Balance Sheet and Profit and Loss
Account form an integral part of accounts.
2) In the opinion of the Board and to the best of their knowledge and
belief, the value on realization of Loans and Advances and Current
Assets, in the ordinary course of business will not be less than the
amount at which they are stated in the Balance Sheet.
3) Creditors and Loans and advances are subject to confirmation and
investments are subject to verification.
4) In absence of Taxable Income, no provision for taxation is made.
5) In the opinion of management, there is no virtual certainty and
hence deferred tax assets not created.
6) The Company does not owe any amount to Small Scale Industries as on
7) Contingent Liabilities not provided for Income Tax amounting to Rs.
13.21 Lacs (approx) as the matter is pending before Tribunal. In the
opinion of the Management, there is no contingent liabilities except
8) Auditors Remuneration:
As Audit Fees Rs.19,500/- (Previous Year Rs.19,500/-)
9) Managerial Remuneration Rs. NIL (Previous Year Rs.NIL)
10) The company has not entered into any transactions with related
parties during the year.
11) CIF Value of Imports Rs.NIL (Previous Year Rs.NIL) and Earnings in
Foreign Exchange Rs.NIL (Previous Year Rs.NIL)
12) The companys business activity falls within a single primary
13) The company is engaged in the business of financial, Venture
Support & Global Consultancy Services. The production and sale cannot
be express in generic terms and hence it is not possible to give
quantitative details in terms under paragraph 3 and 4C of Part II of
Schedule VI of the Companies Act, 1956.
14) Previous Years figures have been regrouped, rearranged and recast
to correspond with the figures of the current year.