Mar 31, 2015
As at 31st As at 31st PARTICULARS March, 2014 March, 2015 Amount (Rs.) Amount(Rs.)
1. Contingent liabilities and commitments (to the extent not provided for)
Sales Tax Demand 0 0
(Pending before Sales tax Tribunal for the Financial year 1993- 1994)
Income tax Demand 0 0
(Pending before Income tax Tribunal for the Financial year 2007-2008) 0 0
Total 0 0
Mar 31, 2014
Mar 31, 2011
1. Provisions, Contingent Liabilities and Contingent Assets Provisions are recognized when an enterprise 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 its present value and are determined based on best estimate 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.
2. Related Party Disclosures
As informed to us, the Company has not made any Related party transactions during the year under review.
3. The Company has sent the letters to all the creditors to confirm whether they are registered under "THE MICRO, SMALL AND MEDIUM ENTERPRISES DEVELOPMENT ACT". Since the response to the same has not been received from any of the parties, it has been assumed that all the vendors are covered under the Act. The Company has not received any claim for interest from any supplier under the said Act.
4. Gratuity has not been provided in the financial statements as the act is not applicable on the company.
5. Schedules 1 to 9 forms an integral part of the accounts and have been duly authenticated.
6. Figures have been rounded off to the nearest rupee.
7. Additional information
Balance Sheet abstract and Company's General business profile as per Part IV of Schedule VI of Companies Act, 1956: