Mar 31, 2011
1. No. of employees was in receipt of remuneration aggregating to Rs. 2400000/- per annum throughout the year or Rs. 200000/- per month for a part of the year.
2. In the opinion of the management, all current assets, loan and advances their value if realized in the ordinary course of business, at least equal to the amount at which they are stated except expressly stated otherwise.
3. Balances of Sundry Debtors, Sundry Creditors and loans and Advances are subject to confirmation and reconciliation.
4. Previous years figure have been regrouped/recasted wherever necessary to make it comparable with that of current year.
5. The interest free loan taken from Director of Industries, Chandigarh is secured by way of second charge favoring Director of Industries, Chandigarh on the assets of the Company and by way of first charge on State Capital subsidy sanctioned by Director of Industries, Chandigarh, personal guarantee of directors and further collaterally secured by equitable mortgage of Company's land measuring 55 Kanals and 19 marlas at Village Gaunspur, Hambran, Ludhiana.
6. Accounting for Taxes on Income (AS-22).
Since the Company has brought forward accumulated losses / unabsorbed depreciation therefore, no deferred tax assets has been assumed in the books of account of the company.
7. The Company has no information about the parties who has registered themselves under Micro, Small and Medium Enterprises Development Act, 2006.
8. Related Party Disclosures
(i) List of Related Parties and Relationships
Key Management Personnel
1. Sh. Bhupinder Singh (Managing Director)
2. Sh. Kulbir Singh (Director)
3. Smt. Harbans Kaur (Director)
Relative of Key Management Personnel
4. Smt. Rimmi Sethi
5. Smt. Nishi Sethi
7. A.S.T. Paper Mills Limited
8. B.K.Coated Board Ltd
9. B.K.Krafts Limited
9. Schedule A to G form an integral part of the Profit & Loss a/c and Balance Sheet.