Mar 31, 2014
1. CONTINGENT LIABILITIES
NIL
2. The company has started commercial operation partially during year
ended 31st March 2013. Profit and Loss Account has been prepared. In
view of the above, provision of Income Tax has been made.
3. In the opinion of the Board of Directors and to the best of their
knowledge and belief, the value on realisation of Loans, Advance and
Current Assets in the ordinary course of business will not be less than
the amount at which they are stated in Balance Sheet.
4. Figures of the previous year has been rearranged & regrouped
wherever deemed necessary.
5. Additional information pursuant to para 3, 4C, 4D of PART II of
Schedule VI to the Companies Act, 1956 (To the Extent Applicable), has
not been given since there is no revenue activity.
6. Notes No.17 Notes on account form an integral part of the accounts.
Mar 31, 2013
1. CONTINGENT LIABILITIES
NIL
2. The company has started commercial operation partially during year
ended 31st March 2013. Profit and Loss Account has been prepared. In
view of the above, provision of Income Tax has been made.
3. Amount of bad debts given on capital goods which was written off in
the earlier years and was charged to corresponding Pre-operative
Expenditure Account.
The year wise detail of bad debts written off is as under:
Year Amount of Bad Debts w/o
1999- 2000 77,61,019
2000- 2001 24,50,000
Total 1,02,11,019
This amount has now been transferred to Misc. Expenditure
Account..Company intends to write off this amount in 5 years after full
commercial production.
4. The Capital Work-in-Progress amounting Rs. 1,76,40,234.13/- which
has been arrived as under has been capitalised to Building Accounts..
The above amount which has been capitalised in Building Accounts was
incurred since incorporation, which could not be allocated in Building
Accounts in the respective years. Now in this year it is being
transferred to Building Accounts.
5. In the opinion of the Board of Directors and to the best of their
knowledge and belief, the value on realisation of Loans, Advance and
Current Assets in the ordinary course of business will not be less than
the amount at which they are stated in Balance Sheet.
6. Figures of the previous year has been rearranged & regrouped
wherever deemed necessary.
7. Additional information pursuant to para 3, 4C, 4D of PART II of
Schedule VI to the Companies Act, 1956 (To the Extent Applicable), has
not been given since there is no revenue activity.
8. Notes No.17 Notes on account form an integral part of the accounts.
Mar 31, 2012
1. CONTINGENT LIABILITIES
NIL
2. The FDRs of Rs. 25 lack which was created from the NHB Bridge Loan
and interest thereon, has illegally been appropriated to National
Horticulture Board (NHB) Account by Indian Overseas Bank, until the
previous year the Company was showing this sum (of Rs. 25 lacs) under
the heading 'Cash at Bank-FDRs' as the Management proclaim that the
FDRs are legally the assets of the Company. But now as per the
bahadurgarh court's decree the loan amount had been reduced by Rs. 25
lack out of FDRs of Rs. 28.85 lack and balance of Rs. 3,84,563 reduced
from provision for service charges. Further no provision is required
for the service charges as per bahadurgarh court's decree.
3. Since there has been no revenue operation except some trial
production and the Company is in the process of setting up project
during the year ended 31st March, 2011, Profit and Loss Account has not
been prepared and has therefore Net Pre-operative Expenditure Account
has been prepared. In view of the above, no provision of Income Tax has
been made.
4. It is the Company's intention to capitalise the expenditure on
capital work-in-progress when commercial operation begin. The amount to
be capitalised or created as deferred revenue expenditure will be
determined in accordance with the accepted accounting principle.
5. In the opinion of the Board of Directors and to the best of their
knowledge and belief, the value on realisation of Loans, Advance and
Current Assets in the ordinary course of business will not be less than
the amount at which they are stated in Balance Sheet.
6. Figures of the previous year has been rearranged & regrouped
wherever deemed necessary.
7. Additional information pursuant to para 3, 4C, 4D of PART II of
Schedule VI to the Companies Act, 1956 (To the Extent Applicable), has
not been given since there is no revenue activity.
8. Schedule A to J form an integral part of the accounts.
Mar 31, 2011
1. CONTINGENT LIABILITIES
NIL
2. The FDRs of Rs. 25 lacs which was created from the NHB Bridge Loan
and interest thereon, has illegally been appropriated to National
Horticulture Board (NHB) Account by Indian Overseas Bank, but hte
Company is showing this sum (of Rs. 25 lacs) under the heading ''Cash at
Bank- FDRs'' as the Management proclaim that the FDRs are legally the
assets of the Company. Consequently, unsecured Bridge loan from NHB is
overstated by the same amount.
3. Since there has been no revenue operation except some trial
production and the Company is in the process of setting up project
during the year ended 31st March, 2011, Profit and Loss Account has not
been prepared and has therefore Net Pre-operative Expenditure Account
has been prepared. In view of the above, no provision of Income Tax has
been made.
4. It is the Company''s intention to capitalise the expenditure on
capital work-in-progress when commercial operation begin. The amount to
be capitalised or created as deferred revenue expenditure will be
determined in accordance with the accepted accounting principle.
5. In the opinion of the Board of Directors and to the best of their
knowledge and belief, the value on realisation of Loans, Advance and
Current Assets in the ordinary course of business will not be less than
the amount at which they are stated in Balance Sheet.
6. Figures of the previous year has been rearranged & regrouped
wherever deemed necessary.
7. Additional information pursuant to para 3, 4C, 4D of PART II of
Schedule VI to the Companies Act, 1956 (To the Extent Applicable), has
not been given since there is no revenue activity.
8. Schedule A to J form an integral part of the accounts.
Mar 31, 2010
1. CONTINGENT LIABILITIES
Estimated amount of contract remaining to be executed on Capital
Account and not provided for 349.30 Lacs net of advances. Previous year
(349.30 lacs)
2. The FDRs of Rs. 25 lacs which was created from the NHB Bridge Loan
and interest thereon, has illegally been appropriated to National
Horticulture Board (NHB) Account by Indian Overseas Bank, but hte
Company is showing this sum (of Rs. 25 lacs) under the heading ''Cash at
Bank- FDRs'' as the Management proclaim that the FDRs are legally the
assets of the Company. Consequently, unsecured Bridge loan from NHB is
overstated by the same amount.
3. FDRs of Rs. 30 lacs shown under "Cash and BankÂFDRs" (previous
year Rs. 30 lacs) together with the interest of Rs. 3.72 Lacs
(Previous year Rs. 4.91 lacs) are in the name of HAIC A/c T.N. Agrawal.
This is because of the fact that HAIC has insisted at the time of
releasing their equity portion of Rs. 30 lacs that FDRs should be made
of the same amount through Account of one of the Directors of the
Company. Further, the company and its promoters are on their way to
settle the matter amicably with HAIC out of the court.
4. Since there has been no revenue operation except some trial
production and the Company is in the process of setting up project
during the year ended 31st March, 2010, Profit and Loss Account has not
been prepared and has therefore Net Pre-operative Expenditure Account
has been prepared. In view of the above, no provision of Income Tax has
been made.
5. It is the Company''s intention to capitalise the expenditure on
capital work-in-progress when commercial operation begin. The amount to
be capitalised or created as deferred revenue expenditure will be
determined in accordance with the accepted accounting principle.
6. In the opinion of the Board of Directors and to the best of their
knowledge and belief, the value on realisation of Loans, Advance and
Current Assets in the ordinary course of business will not be less than
the amount at which they are stated in Balance Sheet.
7. Figures of the previous year has been rearranged & regrouped
wherever deemed necessary.
8. Additional information pursuant to para 3, 4C, 4D of PART II of
Schedule VI to the Companies Act, 1956 (To the Extent Applicable), has
not been given since there is no revenue activity.
9. Schedule A to J form an integral part of the accounts.
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