Mar 31, 2014
Mar 31, 2010
1. The company on analysing its investments outstanding as on 31.03.2010 considered the diminution in value as permanent and accordingly made a provision of Rs 16,32,754/-.
2. The Company has drawn up its accounts on a going concern basis, not withstanding the erosion of its net worth, accumulated losses and closure of its finance business.The Company is exploring alternative business opportunities.
3. Other income of Rs.12,63,711 /- includes an amount of Rs.11,60,000/- recovered towards Bad debt, which was written off in earlier years.
4. Deferred tax asset of Rs 3,21,097/- accounted in earlier years has been withdrawn by debiting to Profit and Loss account, as there is no certainty to get adjusted in future years.
5. Fixed Assets standing at residual value have been discarded and sold as scrap and no fixed assets are in place as of 31.03.2010.
6. Transactions with related parties is:
1) Key Management Personnel:
i Sri A. G. K. Raju
ii Sri A.S.R. Raju
2) Enterprises Owned or significantly influenced by Key management personnel:
7. Balances in respect of some of the Sundry Debtors and Loans and Advances are subject to confirmation.
8. Paise have been rounded off to the nearest rupee.