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Notes to Accounts of Kutch Salt & Allied Industries Ltd.

Mar 31, 2011

1. Contingent liabilities not provided for:

a) Estimated amount of contracts remaining to be executed on capital account (net of advances ) Rs. .1,16,75,000/- (Previous Year Rs. 1,56,37,000/-)

b) Gujarat Water Supply and Sewerage Board has demanded water charges at enhanced rate w.e.f. 01.01.1988. The liability for such claims comes to Rs, 4.34 lacs for which no provision is made. The company has filed suitable replies to the concerned authorities. (Previous year Rs. 4.34 Lacs)

2. There are no micro, small and medium enterprises to whom the Company owes dues which are outstanding for more than 45 days at the balance sheet date. The said details have been determined to the extent such parties have been identified on the basis of information available with the company.

3. The Balances of Sundry Debtors and Sunday Creditors and some other debit and credit balances are subject-to their confirmation.

4. The Company has not paid any remuneration to its Directors including sitting fees, hence, provisions of the Companies Act, 1956 pertaining to Managerial Remuneration is not applicable.

5. Previous year's figures have been regrouped / rearranged wherever consider necessary, to make them comparable.

6. Schedule A to Q Form integral part of Balance Sheet and Profit and Loss Account and have been duly authenticated as such.

7. Additional information as required under paragraph 3 and 4 of part II of schedule VI of the companies Act, 1956 are as follows


Mar 31, 2010

1. Contingent liabilities not provided for :

a) Estimated amount of contracts remaining to be executed on capital account (net of advances)

Rs. 1,56,37,000/- (Previous Year Rs. 6,15,53,376/-)

b) Service Tax Refund Claim of Rs.49,34,874/- lodged by the company with the appropriate authority but till date no refund is sanctioned by the authority.

c) Gujarat Water Supply and Sewerage Board has demanded water Charges at enhanced rate w.e.f. 01.01.1988. The liability for such claims comes to Rs. 4.34 lacs for which no provision is made. The company has filed suitable replies to the concerned authorities. (Previous year Rs. 4.34 Lacs)

d) The company has undertaken export obligation of Rs. Nil (Previous year Rs. 14.14 Crores) to export goods against the issuance of Import Licence for the Import of capital goods. Out of this, export obligation of Rs. 7.99 Crores ( Previous year Rs. 6.15 Crores ) have already been fulfilled up to 31 March, 2010.

Note :

1, Geographical segment considered for disclosure as follows :

Revenue within India includes sales to customers located within India Revenue outside India includes sales to customers located outside India

2. There are no micro, small and medium enterprises to whom the company owes dues which are outstanding for more than 45 days at the balance sheet date. The said details, have been determined to the extent such parties have been identified on the basis of information available with the company.

3. The Balances of Sundry Debtors and Sundry Creditors and some other Debit and credit balance are subject to their confirmation.

4. The Company has not paid any remuneration to its Directors Including sitting fees hence provisions of the Companies Act, 1956 pertaining to Managerial Remuneration is not applicable.

5. Previous year's figures have been regrouped / rearranged wherever consider necessary, to make them comparable.

6. Schedule 1 to 17 From integral part of Balance Sheet and Profit and Loss Account and have been duly authenticated as such.

7. Additional information as required under paragraph 3 and 4 of part - II of schedule VI of the companies Act, 1956 are as follows.

 
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