Mar 31, 2015
1 Figures for the previous year has been regrouped and/or rearranged
wherever considered necessary.
2 In the opinion of the Board, the current assets, loans and advances
have a value on realisation in the ordinary course of business at least
equal to the amounts at which they are stated in the Balance-Sheet and
that the provision for known liability is adequate and not in excess of
amount reasonably necessary.
3 Contingent Liabilities and Commitments
31-3-2015 31-3-2014
A. Contingent Liabilities
i) Claims against the Company,
not acknowledged as debts - -
ii) Guarantees - -
iii) Other money for which the Company
is contigently liable.
Entry-TaxDemandandPenaltyforvariousyears 4767738 4767738
B. Commitments
i) Estimated amount of Contracts remaining
to be executed on capital account
and not provided for - -
ii) Uncalled liability on shares and other
investments partly paid - -
iii) Other Commitments - -
4 There were no dues to Small Scale Industrial undertakings to whom the
Company owes a sum exceeding Rs.1.00 Lac which is outstanding for more
than 30 days.
5 Taxation
A. Current Tax
Current Tax Liability of the Company is estimated in accordance with
the provisions of the Income-Tax Act, 1961.
B. Deferred Tax
The company adopt prudent norms of accounting policies, therefore the
provision for deffered tax have not been made.
6 Related Party Disclosures A. List of related parties
i) Parties where control exists Nil
ii) Subsidiaries Nil
iii) Associates Nil
iv) Directors 1) Shri R.K. Tekriwal
2) Shri Sharad Dubey
3) Shri Vishwanath Kanungo
Mar 31, 2014
I Contingant liabilities not provided for:
a) Bank guarantee issued by Bank Rs.NIL Lacs
b) Sales Tax authority issued demands for which company has disputed
the claim and they have been advised by the legal experts that it will
succeed in the followings matters:
Sr. Name Of the Nature Of Amount Year
No Act Dues
MP
1) Comm.Tax Demand 34733/- 1996-1997
Act, 1994
MP
2) Comm.Tax Demand 18028/- 1999-2000
Act, 1994
MP
3) Comm.Tax Demand 825036/- 2000-2001
Act, 1994 Penalty 636400/- 2000-2001
MP
4) Comm.Tax Demand 679287/- 2001-2002
Act, 1994 Penalty 510400/- 2001-2002
MP
5) Comm.Tax Demand 578337/- 2002-2003
Act, 1994 Penalty 416500/- 2002-2003
MP
6) Comm.Tax Demand 1068417/- 2003-2004
Act, 1994
c) The company has filled application with the competent authority for
enhancement of period for E.Tax exemption on purchases but the same is
pending with the authority. Therefore contingent liability of
Rs.47,67,738/- not provided in the books of accounts.
2. In the opinion of the Board the current assets, Loans & Advance have
a value on ordinary course of busi- ness at least equal to the amount
at which they are stated in realization in the balance sheet and
provis- ions for all known liabilities have been made.
3. The company adopt prudence norms of accounting Policies, Therfore
the provision for deferred tax assets as required in AS-22 issued by
ICAI have not been made.
4. The company, due to dispute with bank, has not provided interest on
secured loans.
5. The company is a Sick Industrial company within the meaning of
clause of Sub-Section 1 of Section 3 of the Sick Industrial Companies
Special Provision Act 1985.
6. Sundry debtors, creditors, loans and advances are subject to
balance confirmation.
7. Previous period figures have been regrouped, rearranged wherever
considerd necessary to make them comparable.
8. Figures are rounded off to the nearest rupee.
Mar 31, 2013
I Contingant liabilities not provided for:
a) Bank guarantee issued by Bank Rs.NIL Lacs
b) Sales Tax authority issued demands for which company has disputed
the claim and they have been advised by the legal experts that it will
succeed in the followings matters:
Srn. Name of the Act Nature of
Dues Amount Year
1 M.P. Comm. Tax Act, 1994 Demand 34733/- 1996-1997
2 M.P. Comm. Tax Act, 1994 Demand 18028/- 1999-2000
3 M.P. Comm. Tax Act, 1994 Demand 825036/- 2000-2001
Penalty 636400/-
4 M.P. Comm. Tax Act, 1994 Demand 679287/- 2001-2002
Penalty 510400/-
5 M.P. Comm. Tax Act, 1994 Demand 578337/- 2002-2003
Penalty 416500/-
6 M.P. Comm. Tax Act, 1994 Demand 615017/- 2003-2004
Penalty 453400/-
c) The company has filled application with the competent authority for
enhancement of period for E.Tax exemption on purchases but the same is
pending with the authority. Therefore contingent liability of
Rs.47,67,738/- not provided in the books of accounts.
ii In the opinion of the Board the current assets, Loans & Advance have
a value on ordinary course of busi- ness at least equal to the amount
at which they are stated in realization in the balance sheet and
provis- ions for all known liabilities have been made.
iii The company adopt prudence norms of accounting Policies, Therfore
the provision for deferred tax assets as required in AS-22 issued by
ICAI have not been made.
Mar 31, 2012
I Contingent liabilities not provided for:
a) Bank guarantee issued by Bank Rs.NIL Lacs
b) Sales Tax authority issued demands for which company has disputed
the claim and they have been advised by the legal experts that it will
succeed in the followings matters:
c) The company has filled application with the competent authority for
enhancement of period for E. Tax exemption on purchases but the same is
pending with the authority. Therefore contingent liability of
Rs.47,67,738/- not provided in the books of accounts.
ii In the opinion of the Board the current assets, Loans & Advance have
a value on ordinary course of business at least equal to the amount
at which they are stated in realization in the balance sheet and
provisions for all known liabilities have been made.
iii The company adopt prudence norms of accounting Policies, Therefore
the provision for deferred tax assets as required in AS-22 issued by
ICAI have not been made.
iv Additional information pursuant to the provision to the provision of
part II of Schedule VI to the Companies Act, 1956.
Mar 31, 2010
I) Contingent liabilities not provided for:
a) Bank guarantee issued by Bank Rs.NIL Lacs
b) Sales Tax authority issued demands for which company has disputed
the claim and they have been advised by the legal experts that it will
succeed in the followings matters:
c) The company has filled application with the competent authority for
enhancement of period for E.Tax exemption on purchases but the same is
pending with the authority. Therefore contingent liability of
Rs.32,77,506/- not provided in the books of accounts.
ii In the opinion of the Board the current assets, Loans & Advance have
a value on ordinary course of business at least equal to the amount
at which they are stated in realization in the balance sheet and
provisions for all known liabilities have been made.
iii The company adopt prudence norms of accounting Policies, Therefore
the provision for deferred tax assets as required in AS-22 issued by
ICAI have not been made.
iv The company, due to dispute with bank, has not provided interest on
secured loans at contracted rates of Bank. Though it is provided @ 10%
P.A.
v The company is a Sick Industrial company within the meaning of
clause of Sub-Section 1 of Section 3 of the Sick Industrial Companies
Special Provision Act 1985.
vi Sundry debtors, creditors, loans and advances are subject to
balance confirmation.
vii Previous period figures have been regrouped, rearranged wherever
considered necessary to make them comparable.
viii Figures are rounded off to the nearest rupee.
Mar 31, 2009
I Contingant liabilities not provided for:
a) Bank guarantee issued by Bank Rs.NIL Lacs
c) The company has filled application with the competent authority for
enhancement of period for E.Tax exemption on purchases but the same is
pending with the authority. Therefore contingent liability of
Rs.32,77,506/- not provided in the books of accounts.
ii In the opinion of the Board the current assets, Loans & Advance have
a value on ordinary course of business at least equal to the amount at
which they are stated in realization in the balance sheet and
provisions for all known liabilities have been made.
iii The company adopt prudence norms of accounting Policies, Therfore
the provision for deferred tax assets as required in AS-22 issued by
ICAI have not been made.
iv The company, due to dispute with bank, has not provided interest on
secured loans at contracted rates of Bank. Though it is provided @ 10%
P.A.
v The company is a Sick Industrial company within the meaning of
clause of Sub-Section 1 of Section 3 of the Sick Industrial Companies
Special Provision Act 1985.
vi Sundry debtors, creditors, loans and advances are subject to
balance confirmation.
vii Previous period figures have been regrouped, rearranged wherever
considerd necessary to make them comparable.
viii Figures are rounded off to the nearest rupee.