Mar 31, 2015
1.1 Basis of Preparation of Financial Statements:
The Financial Statements are prepared under the historical cost
convention on ongoing concern basis in accordance with the Generally
Accepted Accounting Principles in India to comply with the Accounting
Standards notified under the Companies (Accounting Standards) Rules,
2006 and the applicable provision of the Companies Act, 1956 and
Companies Act 2013. The Company has followed the mercantile system of
accounting and recognized income and expenditure on accrual basis. The
accounting policies adopted in the preparation of the financial
statements are consistent with those followed in the previous year.
1.2 Use of estimates
The preparation of the financial statements in conformity with Indian
GAAP requires the Management to make estimates and assumptions
considered in the reported amounts of assets and liabilities (including
contingent liabilities) and the reported income and expenses during the
year. The Management believes that the estimates used in preparation of
the financial statements are prudent and reasonable. Future results
could differ due to these estimates and the differences between the
actual results and the estimates are recognized in the periods in which
the results are known / materialize.
1.3 Revenue Recognition:
a. Coal Trading:
Sale of coal has been recorded and recognized on the basis of
dispatches made to customers, which is considered as transfer of
ownership and represents amount billed for goods sold excluding Sales
Tax/ VAT.
b. Revenue from High Seas Sales are accounted for on the basis of date
of agreement entered with the customers during the year.
c. Further, Other Income received through cargo handling charges is
the amount recovered in excess of the amount paid by the company for
the services in Proportion of the quantity dispatched.
d. Dividend income is accounted when the right to receive it is
established.
1.4 Fixed Assets & Capital work-in-progress:
a. Fixed Assets are stated at cost less accumulated depreciation
except otherwise stated. Costs of Fixed assets are arrived at after
including therein attributable expenses for bringing the respective
assets to working condition.
b. The company does not have any Capital Work-in-Progress.
1.5 Depreciation:
Depreciation on Fixed Assets is provided using Straight Line Method.
The Fixed Assets are depreciated over the useful life prescribed in
Schedule II of the Companies Act, 2013. Depreciable amount is
calculated after considering 5% of original cost as residual value. No
Depreciation has been charged on Land held as Investment Property.
1.6 Inventories:
a. Imported Coal: At Cost (including Direct Expenses with specific
identification method) or Market Price, whichever is lower.
b. Indigenous Coal: At Cost (including Direct Expenses) using FIFO
Method or Market Price, whichever is lower.
c. Goods In Transit/ Unclear Stock: At Cost.
d. Land: Valued at Cost including Registration Expenses.
1.7 Retirement Benefits:
a. The Company has provided for value of unutilized leave due to
employees at the end of the year.
b. In the opinion of the Board of Directors, Company does not fall
under the purview of the retirement benefits like,
Gratuity, Due to the fact that none of the employees completed 5 years
service in the company and therefore no provision for the same is
provided in the books.
1.8 Investment:
Non Current Investments are shown at Cost. No provision has been made
for diminution in the value of investments.
1.9 Earnings Per Share
Basic earnings per share is computed by dividing the Profit / (Loss)
for the period after tax (including the post tax effect of
extraordinary items, if any) attributable to equity shareholders after
deducting preference dividends and any attributable tax thereto by the
weighted average number of equity shares outstanding during the year.
1.10 Cash and cash equivalents (for purposes of Cash Flow Statement)
Cash comprises cash on hand and demand deposits with banks. Cash
equivalents are short-term balances, highly liquid investments that are
readily convertible into known amounts of cash and which are subject to
insignificant risk of changes in value.
1.11 Foreign Currency Transaction:
a. Transaction in foreign currency is accounted for at the exchange
spot rate on the date of transaction. Receivable and payables are
translated at the closing rate of exchange prevailing on Balance Sheet
date. The difference because of fluctuation in the rate of exchange is
recognized in the Profit & Loss account.
b. Transactions covered by cross currency swaps and options contracts
to be settled on future dated recognized at the year-end rates of the
underlying foreign currency. Effect arising of the swap contract is
being adjusted on the date of settlement.
c. Transaction covered by Forward contracts to be settled on future
date recognized at the Hedged Rate of the underlying foreign currency
at the year end.
d. Premium & Bank Margin incurred on Forward contracts to be settled
on future date are proportionately recognized at the year end.
1.12 Borrowing Costs:
Interest and other costs in connection with the borrowing of the funds
to the extent related / attributed to the acquisition / construction of
qualifying assets are capitalized up to the date when such assets are
ready for its intended use. All other borrowing costs are charged to
Profit & Loss account.
1.13 Provisions and Contingent Liabilities:
A provision is recognized when an enterprises has a present obligation
as a result of past event; it is probable that an outflow of resources
will be required to settle the obligation, in respect of which a
reliable estimate can be made. Provisions are not discounted to
present value and are determined based on best estimates required to
settle the obligation at the Balance Sheet date. These are reviewed at
each Balance Sheet date and adjusted to reflect the current best
estimates. Contingent Liabilities are not provided for in the accounts
and are disclosed by way of Notes.
1.14 Provision for Current and Deferred Tax:
Provision for current tax is made after taking into consideration
benefits admissible under the provision of the Income Tax Act, 1961.
Deferred Tax liabilities and assets are recognized at substantively
enacted tax rates, subject to the consideration of prudence, on timing
difference, being the difference between taxable incomes and accounting
income that originate in one period and are capable of reversal in one
or more subsequent period.
Mar 31, 2014
1.1 Basis of Preparation of Financial Statements:
The Financial Statements are prepared under the historical cost
convention on ongoing concern basis in accordance with the Generally
Accepted Accounting Principles in India to comply with the Accounting
Standards notified under the Companies (Accounting Standards) Rules,
2006 and the provision of the Companies Act, 1956. The Company has
followed the mercantile system of accounting and recognized income and
expenditure on accrual basis. The accounting policies adopted in the
preparation of the financial statements are consistent with those
followed in the previous year.
1.2 Use of estimates
The preparation of the financial statements in conformity with Indian
GAAP requires the Management to make estimates and assumptions
considered in the reported amounts of assets and liabilities (including
contingent liabilities) and the reported income and expenses during the
year. The Management believes that the estimates used in preparation
of the financial statements are prudent and reasonable. Future results
could differ due to these estimates and the differences between the
actual results and the estimates are recognized in the periods in which
the results are known / materialize.
1.3 Revenue Recognition:
a. Coal Trading:Sale of coal has been recorded and recognized on the
basis of dispatches made to customers, which is considered as transfer
of ownership and represents amount billed for goods sold excluding
Sales Tax/ VAT.
b. Revenue from High Seas Sales are accounted for on the basis of date
of agreement entered with the customers during the year.
c. Further, Other Income received through cargo handling charges is
the amount recovered in excess of the amount paid by the company for
the services in Proportion of the quantity dispatched.
d. Dividend income is accounted when the right to receive it is
established.
1.4 Fixed Assets & Capital work-in-progress:
a. The Company does not hold any Depreciable Asset. Costs of
non-Depreciable Fixed assets are arrived at after including therein -
attributable expenses for bringing the respective assets to working
condition.
b. The company does not have any Capital Work-in-Progress.
1.5 Depreciation:
No Depreciation has been charged on Land held as Investment Property.
1.6 Inventories:
a. Imported Coal: At Cost (including Direct Expenses with specific
identification method) or Market Price, whichever is lower.
b. Indigenous Coal: At Cost (including Direct Expenses) using FIFO
Method or Market Price, whichever is lower.
c. Goods In Transit/ Unclear Stock: At Cost.
d. Land: Valued at Cost including Registration Expenses.
1.7 Retirement Benefits:
a. The Company has provided for value of unutilized leave due to
employees at the end of the year.
b. In the opinion of the Board of Directors, Company does not fall
under the purview of the retirement benefits like P.F., Gratuity etc
and therefore no provision for the same is provided in the books.
1.8 Investment:
Non Current Investments are shown at Cost. No provision has been made
for diminution in the value of investments.
1.9 Earning Per Share
Basic earnings per share is computed by dividing the Profit / (loss)
for the period after tax (including the post tax effect of
extraordinary items, if any) attributable to equity shareholders after
deducting preference dividends and any attributable tax thereto by the
weighted average number of equity shares outstanding during the year.
1.10 Cash and cash equivalents (for purposes of Cash Flow Statement)
Cash comprises cash on hand and demand deposits with banks. Cash
equivalents are short-term balances, highly liquid investments that are
readily convertible into known amounts of cash and which are subject to
insignificant risk of changes in value.
1.11 Foreign Currency Transaction:
a. Transaction in foreign currency is accounted for at the exchange
spot rate on the date of transaction. Receivable and payables are
translated at the closing rate of exchange prevailing on Balance Sheet
date. The difference because of fluctuation in the rate of exchange is
recognized in the Profit & Loss account.
b. Transactions covered by cross currency swaps and options contracts
to be settled on future dated recognized at the year-end rates of the
underlying foreign currency. Effect arising of the swap contract is
being adjusted on the date of settlement.
c. Transaction covered by Forward contracts to be settled on future
date recognized at the Hedged Rate of the underlying foreign currency
at the year end.
d. Premium & Bank Margin incurred on Forward contracts to be settled
on future date are proportionately recognized at the year end.
1.12 Borrowing Costs:
Interest and other costs in connection with the borrowing of the funds
to the extent related / attributed to the acquisition / construction of
qualifying assets are capitalized up to the date when such assets are
ready for its intended use. All other borrowing costs are charged to
Profit & Loss account.
1.13 Provisions and Contingent Liabilities:
A provision is recognized when an enterprises has a present obligation
as a result of past event; it is probable that an outflow of resources
will be required to settle the obligation, in respect of which a
reliable estimate can be made. Provisions are not discounted to present
value and are determined based on best estimates required to settle the
obligation at the Balance Sheet date. These are reviewed at each
Balance Sheet date and adjusted to reflect the current best estimates.
Contingent Liabilities are not provided for in the accounts and are
disclosed by way of Notes.
1.14 Provision for Current and Deferred Tax:
Provision for current tax is made after taking into consideration
benefits admissible under the provision of the Income Tax Act, 1961.
Deferred Tax liabilities and assets are recognized at substantively
enacted tax rates, subject to the consideration of prudence, on timing
difference, being the difference between taxable incomes and accounting
income that originate in one period and are capable of reversal in one
or more subsequent period.
Mar 31, 2013
1.1 Basis of Preparation of Financial Statements:
The Financial Statements are prepared under the historical cost
convention on ongoing concern basis in accordance with the Generally
Accepted Accounting Principles in India to comply with the Accounting
Standards notified under the Companies (Accounting Standards) Rules,
2006 and the provision of the Companies Act, 1956. The Company has
followed the mercantile system of accounting and recognized income and
expenditure on accrual basis. The accounting policies adopted in the
preparation of the financial statements are consistent with those
followed in the previous year.
1.2 Use of estimates
The preparation of the financial statements in conformity with Indian
GAAP requires the Management to make estimates and assumptions
considered in the reported amounts of assets and liabilities (including
contingent liabilities) and the reported income and expenses during the
year. The Management believes that the estimates used in preparation
of the financial statements are prudent and reasonable. Future results
could differ due to these estimates and the differences between the
actual results and the estimates are recognized in the periods in which
the results are known / materialize. 13 Revenue Recognition:
a. Coal Trading:
Sale of coal has been recorded and recognized on the basis of
dispatches made to customers, which is considered as transfer of
ownership and represents amount billed for goods sold excluding Sales
Tax/ VAT.
b. Revenue from High Seas Sales are accounted for on the basis of date
of agreement entered with the customers during the year.
c. Further, Other Income received through cargo handling charges is
the amount recovered in excess of the amount paid by the company for
the services in Proportion of the quantity dispatched.
d. Dividend income is accounted when the right to receive it is
established.
1.4 Fixed Assets & Capital work-in-progress:
a. The Company does not hold any Depreciable Asset. Costs of
non-Depreciable Fixed assets are arrived at after including therein -
attributable expenses for bringing the respective assets to working
condition.
b. The company does not have any Capital Work-in-Progress.
1.5 Depreciation:
No Depreciation has been charged on Land held as Investment Property.
1.6 Inventories:
a. Imported Coal: At Cost (including Direct Expenses with specific
identification method) or Market Price, whichever is lower.
b. Indigenous Coal: At Cost (including Direct Expenses) using FIFO
Method or Market Price, whichever is lower.
c. Goods In Transit/Unclear Stock: AtCost.
d. Land: Valued at Cost including Registration Expenses.
1.7 Retirement Benefits:
a. The Company has provided for value of unutilized leave due to
employees at the end of the year.
b. In the opinion of the Board of Directors, Company does not fall
under the purview of the retirement benefits like P.F., Gratuity etc
and therefore no provision for the same is provided in the books.
1.8 Investment:
Non Current Investments are shown at Cost. No provision has been made
for diminution in the value of investments.
1.9 Earning Per Share
Basic earnings per share is computed by dividing the Profit / (loss)
for the period after tax (including the post tax effect of
extraordinary items, if any) attributable to equity shareholders after
deducting preference dividends and any attributable tax thereto by the
weighted average number of equity shares outstanding during the year.
1.10 Cash and cash equivalents (for purposes of Cash Flow Statement)
Cash comprises cash on hand and demand deposits with banks. Cash
equivalents are short-term balances, highly liquid investments that are
readily convertible into known amounts of cash and which are subject to
insignificant risk of changes in value.
1.11 Foreign Currency Transaction:
a. Transaction in foreign currency is accounted for at the exchange
spot rate on the date of transaction. Receivable and payables are
translated at the closing rate of exchange prevailing on Balance Sheet
date. The difference because of fluctuation in the rate of exchange is
recognized in the Profit & Loss account.
b. Transactions covered by cross currency swaps and options contracts
to be settled on future dated recognized at the year-end rates of the
underlying foreign currency. Effect arising of the swap contract is
being adjusted on the date of settlement,
c. Transaction covered by Forward contracts to be settled on future
date recognized at the Hedged Rate of the underlying foreign currency
at the year end.
d. Premium & Bank Margin incurred on Forward contracts to be settled
on future date are proportionately recognized at the year end.
1.12 Borrowing Costs:
Interest and other costs in connection with the borrowing of the funds
to the extent related / attributed to the acquisition / construction of
qualifying assets are capitalized up to the date when such assets are
ready for its intended use. All other borrowing costs are charged to
Profit & Loss account.
1.13 Provisions and Contingent Liabilities:
A provision is recognized when an enterprises has a present obligation
as a result of past event; it is probable that an outflow of resources
will be required to settle the obligation, in respect of which a
reliable estimate can be made. Provisions are not discounted to present
value and are determined based on best estimates required to settle the
obligation at the Balance Sheet date. These are reviewed at each
Balance Sheet date and adjusted to reflect the current best estimates.
Contingent Liabilities arenot provided for in the accounts andare
disclosed by way ofNotes.
1.14 Provision for Current and Deferred Tax:
Provision for current tax is made after taking into consideration
benefits admissible under the provision of the Income Tax Act, 1961.
Deferred Tax liabilities and assets are recognized at substantively
enacted tax rates, subject to the consideration of prudence, on timing
difference, being the difference between taxable incomes and accounting
income that originate in one period and are capable of reversal in one
or more subsequent period.
1.15 Preliminary Expenses / Deffered Revenue Expenditures
Preliminary Expenses / deferred revenue expenses have been written off
in ten equal installments. (Also refer Notes to Accounts No. 2.2)
Mar 31, 2012
1.1 Basis of Preparation of Financial Statements:
The Financial Statements are prepared under the historical cost
convention on ongoing concern basis in accordance with the Generally
Accepted Accounting Principles in India and the provision of the
Companies Act, 1956. The Company has followed the mercantile system of
accounting and recognized income and expenditure on accrual basis.
1.2 Revenue Recognition:
a. Coal Trading:
Sale of coal has been recorded and recognized on the basis of
dispatches made to customers, which is considered as transfer of
ownership and represents amount billed for goods sold excluding Sales
Tax/ VAT.
b. Revenue from High Seas Sales are accounted for on the basis of date
of agreement entered with the customers during the year.
c. Further, Other Income received through cargo handling charges is
the amount recovered in excess of the amount paid by the company for
the services in proportion of the quantity dispatched.
1.3 Fixed Assets & Capital work-in-progress:
a. The Company does not hold any Depreciable Asset. Costs of
non-depreciable Fixed assets are arrived at after including therein -
attributable expenses for bringing the respective assets to working
condition.
b. The company does not have any Capital Work-in-Progress.
1.4 Depreciation:
No Depreciation has been charged on Land held as Fixed Assets.
1.6 Inventories:
a. Imported Coal: At Cost (including Direct Expenses with specific
identification method) or Market Price, whichever is lower.
b. Indigenous Coal: At Cost (including Direct Expenses) using FIFO
Method or Market Price, whichever is lower.
c. Goods In Transit: At Cost.
d. Land: Valued at Cost including Registration Expenses.
1.7 Retirement Benefits:
a. The Company has provided for value of unutilized leave due to
employees at the end of the year.
b. In the opinion of the Board of Directors, Company does not fall
under the purview of the retirement benefits like P.F., Gratuity etc
and therefore no provision for the same is provided in the books.
1.8 Investment:
Long Term investments are shown at Cost. No provision has been made for
diminution in the value of investments.
1.9 Foreign Currency Transaction:
a. Transaction in foreign currency is accounted for at the exchange
spot rate on the date of transaction. Receivable and payables are
translated at the closing rate of exchange prevailing on Balance Sheet
date. The difference because of fluctuation in the rate of exchange is
recognized in the Profit & Loss account.
b. Transactions covered by cross currency swaps and options contracts
to be settled on future dated recognized at the year-end rates of the
underlying foreign currency. Effect arising of the swap contract is
being adjusted on the date of settlement.
1.10 Borrowing Costs:
Interest and other costs in connection with the borrowing of the funds
to the extent related / attributed to the acquisition / construction of
qualifying assets are capitalized up to the date when such assets are
ready for its intended use. All other borrowing costs are charged to
Profit & Loss account.
1.11 Provisions and Contingent Liabilities:
A provision is recognized when an enterprises has a present obligation
as a result of past event; it is probable that an outflow of resources
will be required to settle the obligation, in respect of which a
reliable estimate can be made. Provisions are not discounted to
present value and are determined based on best estimates required to
settle the obligation at the Balance Sheet date. These are reviewed at
each Balance Sheet date and adjusted to reflect the current best
estimates. Contingent Liabilities are not provided for in the accounts
and are disclosed by way of Notes.
1.12 Provision for Current and Deferred Tax:
Provision for current tax is made after taking into consideration
benefits admissible under the provision of the Income Tax Act, 1961.
Deferred Tax liabilities and assets are recognized at substantively
enacted tax rates, subject to the consideration of prudence, on timing
difference, being the difference between taxable incomes and accounting
income that originate in one period and are capable of reversal in one
or more subsequent period.
1.13 Preliminary Expenses / Deferred Revenue Expenditures:
Preliminary Expenses / Deferred Revenue Expenditures have been written
off in ten equal installments.
Mar 31, 2011
01. Basis of Preparation of Financial Statements:
The Financial Statements are prepared under the historical cost
convention on ongoing concern basis in accordance with the Generally
Accepted Accounting Principles in India and the provision of the
Companies Act, 1956. The Company has followed the mercantile system of
accounting and recognized income and expenditure on accrual basis.
02. Revenue Recognition:
Coal Trading: Sale of coal has been recorded and recognized on the
basis of dispatches made to customers, which is considered as transfer
of ownership and represents amount billed for goods sold excluding
Sales Tax/ VAT. High Seas Sales are accounted for on the basis of date
of agreement entered with the customers during the year.
Further, Other Income received through cargo handling charges is the
amount recovered in excess of the amount paid by the company for the
services in Proportion of the quantity dispatched.
03. Fixed Assets:
A. Non Depreciable Assets: Fixed Assets have been valued at Cost.
B. Depreciable Assets: The Company does not have any depreciable
assets.
04. Depreciation:
No Depreciation has been charged on Land held as Fixed Assets.
05. Impairment of Assets:
An Assets is treated as impaired when the carrying cost of an assets
exceeds its recoverable value. An impairment loss is charged to Profit
& Loss Account in the year in which an asset is identified as impaired.
Since Company does not have Fixed Assets except Land, no provision has
been made for impairment of assets.
06. Inventories:
a. Imported Coal and Coking Coal: Valued at Cost (including Direct
Expenses with specific identification method) or Market Price,
whichever is lower.
b. Indigenous Coal: Valued at Cost or Market value, whichever is
lower, using FIFO Method.
c. Land: Valued at Cost including Registration Expenses.
07. Retirement Benefits:
The Company has provided for value of unutilized leave due to employees
at the end of the year. Further, in the opinion of the Board of
Directors, Company does not fall under the purview of the retirement
benefits like P.F., Gratuity etc and therefore no provision for the
same is provided in the books.
08. Investment:
Long Term investments are shown at Cost. No provision has been made for
diminution in the value of investments.
09. Foreign Currency Transaction:
Transaction in foreign currency is account for at the exchange spot
rate on the date of transaction. Receivable and payables are translate
at the closing rate of exchange prevailing on Balance Sheet date. The
difference because of fluctuation in the rate of exchange is recognized
in the Profit & Loss account.
10. Provisions and Contingent Liabilities:
A provision is recognized when an enterprises has a present obligation
as a result of past event; it is probable that an outflow of resources
will be required to settle the obligation, in respect of which a
reliable estimate can be made. Provisions are not discounted to present
value and are determined based on best estimates required to settle the
obligation at the Balance Sheet date. There are reviewed at each
Balance Sheet date and adjusted to reflect the current best estimates.
Contingent Liabilities are not provided for in the accounts and are
disclosed by way of Notes.
11 . Provision for Current Tax:
Provision for current tax is made after taking into consideration
benefits admissible under the provision of the Income Tax Act, 1961.
Deferred Tax liabilities and assets are recognized at substantively
enacted tax rates, subject to the consideration of prudence, on timing
difference, being the difference between taxable incomes and accounting
income that originate in one period and are capable of reversal in one
or more subsequent period.
12. Preliminary Expenses / Deferred Revenue Expenditures:
Preliminary Expenses / Deferred Revenue Expenditures have been written
off in ten equal installments.
Mar 31, 2010
01. Basis of Preparation of Financial Statements:
The Financial Statements are prepared under the historical cost
convention on ongoing concern basis in accordance with the generally
accepted accounting principles in India and the provisions of the
Companies Act, 1956. The company has followed the mercantile system of
accounting and recognizes income and expenditure on accrual basis.
02. Revenue Recognition: Coal Trading:
Sale of coal has been recorded and recognized on the basis of
dispatches made to customers, which is considered as transfer of
ownership and represents amount billed for goods sold excluding Sales
Tax / VAT. High Seas Sales is accounted for on the basis of date of
agreement entered with the customers during the year.
Further, Other Income received through cargo handling charges is the
amount recovered in excess of the amount paid by the company for the
services in proportion of the quantity dispatched.
03. Fixed Assets:
A. Non Depreciable Assets : Fixed Asset have been valued at cost.
B. Depreciable Assets : The Company does not have any depreciable
asset.
04. Depreciation:
No Depreciation has been charged on Land
05. Impairment of Assets:
An Asset is treated as impaired when the carrying cost of an asset
exceeds its recoverable value. An impairment loss is charged to Profit
and Loss Account in the year in which an asset is identified as
impaired. Since Company does not have any fixed assets expect land, no
provision has been made for impairment of assets.
06. Valuation of Inventories
A. Land : Valued at cost including registration expenses.
B. Coal : Valued at cost of purchase.
07. Retirement Benefits:
The Company has provided for value of unutilized leave due to employees
at the end of the year. Further, in the opinion of the Board of
Directors, Company does not fall under the purview of the retirement
benefits like P F, gratuity etc. and therefore no provision for the
same is provided in the books.
08. Investment:
Long-term investments are shown at cost.
09. Foreign Currency Transaction:
Transactions in foreign currency are accounted for at the exchange spot
rate on the date of the transaction. Year-end receivable and payables
are translated at the year end rate of exchange. The difference on
account of fluctuation in the rate of exchange is recognized in the
profit and loss account.
10. Provisions and Contingent Liabilities:
A provisions is recognized when an enterprises has a present obligation
as a result of past event; it is probable that an outflow of resources
will be required to settle the obligations, in respect of which a
reliable estimate can be made. Provisions are not discounted to present
value and are determined based on best estimates required to settle the
obligation at the balance sheet date. These are reviewed at each
balance sheet date and adjusted to reflect the current best estimates.
Contingent liabilities are not provided for in the accounts and are
disclosed by way of Notes.
11 . Provision for Current and Deferred Tax:
Provision for current tax is made after taking into consideration
benefits admissible under the provision of the Income Ta x Act, 1961.
Deferred tax liabilities and assets is provided and/or reversed on
timing difference, being the difference between taxable income and
accounting income that originate in one period and are capable of
reversal in one or more subsequent period. However no Deferred Tax
Asset or Deferred Tax Liablility has been created or reversed during
the year.
12. Preliminary Expenses/ Deferred Revenue Expenditure
Preliminary Expenses / Deferred Revenue Expenditure are written off in
ten equal installments.
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