Mar 31, 2014
Contingent liabilities not provided for in respect of
Particulars As at 31st As at 31st
March 2014 March, 2013
(a) Disputed income-tax matters in appeal. 204,062,588 204,062,588
204,062,588 204,062,588
1.1. Basic earnings per share have been calculated by dividing profit
after tax attributable to equity shareholders by the weighted average
number of equity shares outstanding during the year. The Company has
not issued any potential equity shares and accordingly, the basic
earnings per share and diluted earnings per share are the same. Values
used in calculating earnings per share are as under:
Figures in brackets are the corresponding figures of the previous year.
1.2. The company is in the process of identifying suppliers falling
under The Micro, Small and Medium Enterprises Development Act, 2006.
However, the company has received no confirmation as regards to the
status.
Mar 31, 2013
Contingent liabilities not provided for in respect of
Particulars As at 31st
March, 2013 As at 31st
March, 2012
(a) Disputed income-tax
matters in appeal. 204 062 588 204 062 588
204,062,588 204,062,588
1.1. The company is in the process of identifying suppliers failing
under The Micro, Small and Medium Enterprises Development Act, 2006.
However, the company has received no confirmation as regards to the
status.
1.2. Payment made to Auditors: Including Service tax wherever
Applicable
Mar 31, 2012
1.1. The company is in the process of identifying suppliers falling
under The Micro, Small and Medium Enterprises Development Act, 2006.
However, the company has received no confirmation as regards to the
status.
1.2. The figures relating to the previous year have been regrouped
where necessary to make them comparable with those of the current year.
Mar 31, 2010
1. The management believes that the company is a going concern and
will continue to be so in the foreseeable future, notwithstanding the
fact that the company has eroded its net worth. Considering the steps
initiated by the company for its revival and recovery of its dues from
its clients, including legal recourse, the company is confident that
the outstandings will be reduced in due course of time.
2. The company does not have a full time company secretary though the
same is requiring by the Companies Act 1956.
3. The Companys bankers have initiated recovery proceedings in
respect of dues against Bank Overdraft/Working Capital Demand Loans
amounting to Rs. 78,920,893 in respect of Central Bank of India as at
20.03.2001 and amounting to Rs. 78,744,765 in respect of The Federal
Bank Ltd. as at 02.01.2003. Together with interest thereon. The company
has been consistently providing for interest on above loans @16.50% &
@18.50% in respect of Central Bank of India and The Federal Bank Ltd.
respectively. Accordingly as at the balance sheet date the total
outstanding in respect of Central Bank of India is Rs.166, 996,410 and
in respect of The Federal Bank Ltd. is Rs.191, 704,113. These matters
are pending before The Debt Recovery Tribunal for hearing and final
disposal. However, the Company is in dialogue for compromise settlement.
4. During the year under consideration the company has not recognised
any income in respect of lease and hire purchase as in the opinion of
the management no such income as accrued.
Contingent liabilities in respect of: As at As at
31.03.2010 31.03.2009
Rupees Rupees
Disputed income-tax demands 204,062,588 204,062,588
5. Since the company is solely engaged in leasing and hire purchase
activity no separate information for segment wise disclosure is
required.
6. The company is in the process of identifying suppliers falling
under The Micro, Small and Medium Enterprises Development Act, 2006.
However, the company has received no confirmation as regards to the
status.
7. The figures relating to the previous year have been regrouped
where necessary to make them comparable with those of the current year.
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