Mar 31, 2015
(a) As per the information and explanation given to us the Company does
not have the policy of providing post employment benefits and hence no
provision is made for liabilities for retirement benefits.
(b) Contingent Liabilities
Name of Nature of Amount Rs. Financial
status Dues In Lacs Year to
which
amount
relates
Income tax Tax on 5.56 1999-2000
Act,1961 assessment
u/s 143(3)
Income tax Tax on 98.28 2000-2001
Act,1961 Assessment
u/s 143(3)
Income tax Tax on 11.34 2006-2007
Act,1961 Assessment
u/s 143(3)
Income tax Tax on 0.19 2011-2012
Act,1961 Assessment
u/s 143(3)
115.37
Name of Forum where
status dispute is
pending
Income tax Gujarat High
Act,1961 Court
Ahmedabad
Income tax ITAT
Act,1961 Ahmedabad
Income tax ITAT
Act,1961 Ahmedabad
Income tax CIT (Appeals)
Act,1961
(d)The balances shown in the Balance sheet under the head of Creditors,
Debtors and Loans and Advances are each subject to confirmation from
respective parties and are subject to adjustment, if any, on receipt of
confirmation.
(e) The Company has not received any intimation from Suppliers
regarding their status under Micro and Medium Enterprises Development
Act, 2006 and hence disclosure , if any, relating to amounts unpaid as
at year end together with interest paid/payable as required under the
said Act have not been given.
(f) The Figures for the previous year have been rearranged and
regrouped wherever considered necessary so as to confirm to the current
year classification.
(g) The amount remitted during the year in foreign currencies on
account of dividend is Rs. NIL
* C.I.F. Value of Imports is Rs. NIL.
* Earnings in Foreign Exchange is (FOB) is NIL
(h) The amounts have been rounded off nearest Rupee.
Mar 31, 2014
1. As per the information and explanation given to us the Company does
not have the policy of providing post employment benefits and hence no
provision is made for liabilities for retirement benefits.
2. Contingent Liabilities
Name of status Nature of Dues Amount Financial Forum where
Rs. In Year to dispute is
Lacs which pending
amount
relates
Income tax Tax on 1999-2000 Gujarat High
Act,1961 assessment u/s 5.56 Court
143(3) Ahmedabad
Income tax Tax on 2000-2001 ITAT Ahmedabad
Act,1961 Assessment u/s 98.28
143(3)
103.84 -
3. The balances shown in the Balance sheet under the head of ,
Creditors, Debtors and Loans and Advances are each subject to
confirmation from respective parties and are subject to adjustment if
any, on receipt of confirmation.
4. The Company has not received any intimation from Suppliers
regarding their status under Micro and Medium Enterprises Development
Act, 2006 and hence disclosure , if any, relating to amounts unpaid as
at year end together with interest paid/payable as required under the
said Act have not been given.
5. The Figures for the previous year have been rearranged and
regrouped wherever considered necessary so as to confirm to the current
year classification.
6. The amount remitted during the year in foreign currencies on
account of dividend is Rs. NIL
* C.I.F. Value of Imports is Rs. NIL.
* Earnings in Foreign Exchange is (FOB) is Rs. 10,81,250/-
7. The amounts have been rounded off nearest Rupee.
Mar 31, 2013
(a) As per the information and explanation given to us the Company does
not have the policy of encashment of leave and hence no provision is
made for liabilities for retirement benefits. The effect of the same
cannot be quantified, to that extent loss for the year and balance of
Profit & Loss account is understated and balance of current liabilities
is understated.
(b) Contingent Liabilities
Name of status Nature of Dues Amount Financial Forum where
Rs. In Year to dispute is
Lacs which pending
amount
relates
Income tax Tax on 18.00 1999-2000 Gujarat High Court
Act, 1961 assessment u/s Ahmedabad
143(3)
Income tax Penalty u/s 6.93 1999-2000 CIT (Appeal),
Act,1961 271(l)(c) Ahmedabad
Income tax Tax on 3.31 2000-2001 ITAT Ahmedabad
Act,1961 Assessment u/s
143(3)
28.24
(d) The balances shown in the Balance sheet under the head of unsecured
loans, Creditors, Debtors and Loans and Advances are each subject to
confirmation from respective parties and are subject to adjustment if
any, on receipt of confirmation.
(e) The Company has not received any intimation from Suppliers regarding
their status under Micro and Medium Enterprises Development Act, 2006
and hence disclosure , if any, relating to amounts unpaid as at year end
together with interest paid/payable as required under the said Act have
not been given.
(f) The Figures for the previous year have been rearranged and
regrouped wherever considered necessary so as to confirm to the current
year classification.
(g) The amount remitted during the year in foreign currencies on
account of dividend is Rs. NIL
*C.I.F. Value of Imports is Rs. NIL.
*Expenditure in foreign currency is Rs. Nil.
*Earnings in Foreign Exchange is (FOB) is Nil
(h) The amounts have been rounded off nearest Rupee.
Mar 31, 2011
1. Debit and Credit balances appearing in Balance Sheet are subject to
confirmation from respective parties.
2 The Directors are of the opinion that all the known liabilities have
been adequately provided for and the current Assets, Loans and Advances
are approximately at the value stated, if realised in ordinary course
of business.
3 Depreciation on fixed assets for the year has been provided during
the year Rs. 5532
4 In last year, the company has opted for one time settelment with the
lending bank and paid a treed setlment amount
5 Debtors include Rs. 2,47,26,975 (Previous year Rs.35402408 ) due
three companies namely Gujarat Optical Comm. Jd., RHB Cable & Ind.Ltd.,
and Hindustan Cable Ltd. It is informed by management that the all the
three companies were closed and not in operation, Hence the amount is
doubt full for recovery. During the previous year Rs 10675434 due from
GTCL Mobile Comm.Tech Ltd is written off as bed debt.
6 In accordance with Accounting Standard 22 "Accounting for Taxes on
Income" issued by the Institute of Chartered Accountants of India,
Company has not accounted for deferred tax during the year. Consequently
the deferred tax liability for the year has not been recognised in view
of loss for the year.
7 Previous year figures have been regrouped or rearranged wherever
necessary so as to confirm to Current Year's classification.
8 Related party transaction:
A Name of related party and Nature of related party relationship:
a) Subsidary companies/concem
b) Directors and their relatives:
SHRl MANSUKH A. patal Director
SHRI GOVIND R. PATEL Director
SHRl rooplal nuwal Director
SHRI DINESH CHAUHAN Director