Mar 31, 2010
1. Contingent Liabilities not provided for:
(Rs. in lacs) (Rs. in lacs)
In respect of outstanding corporate guarantees to 10035.61 10035.61
Financial Institutions / Bank/Body Corporate
In respect of Demand on additions and interest for Assessment Year 1997-98 raised by I. T. Department 287.29 287.29
2. Deferred Tax Assets have not been recognised in the accounts on prudence basis as per Accounting Standard (AS-22) issued by The Institute of Chartered Accountants of India.
3. Related Party Disclosure
As per Accounting Standard 18 issued by the Institute of Chartered Accountants of India, the disclosures of transactions with the related parties as defined in Accounting Standard as given below :
(A) List of the related parties and relationship
SI. No. Name of related Party Relationship
1 Dunlop India Ltd Associate 2 Falcon Tyres Ltd. Associate
3 Jessop & Co. Ltd. Associate
4 Monotona Tyres Ltd. Associate
5 Suryamani Financing Co. Ltd. Associate
(B) Transactions carried out during the year with related parties :-
No Transaction were made with the related parties during the year.
4. Previous years figures have been re-arranged/re-grouped wherever necessary.
5. Balance Sheet abstract and Companys general business profile as required under Part IV of Schedule VI to the Companies Act, 1956 is enclosed and marked as Schedule 10.