Mar 31, 2010
1. As per the decision of the Board taken at Board Meeting held on
16.01.2009 the Previous Year of the Company has been changed from 30th
June, 2008 to 31sl March, 2009. The Financial Statements have been
prepared for the Current Year from 01.04.2009 to 31.03.2010. The
Previous Years figures that have been given are from 01.04.2008 to
31.03.2009.
2. Profit and Loss Account has not been drawn up since the Company has
not commenced Commercial Production.
3. The Provisions of Part II of Schedule VI are not applicable to this
Company as the Company has not commenced Commercial Production.
4. The Board of Directors at the Board Meeting held on 27.06.2007 to
write off the Miscellaneous Expenditure and Deferred Revenue
Expenditure to the extent not written off incurred upto 30.06.2007 in 5
equal installments from the commencement of commercial production.
Since the Company has not commenced commercial production, the same has
not been written off.
5. No Depreciation has been provided, except on Furniture and Fixtures
and Office Equipment, since the Company has not commenced Commercial
Production. The Board has decided at its Meeting held on 27.06.2007 to
provide Depreciation on all the assets when the Company commences
production of Portland Cement.
6. The Board has decided at its Meeting held on 13.01.2007 to produce
Portland Cement. Accordingly, the amount spent up to 31.03.2010 in
respect of balancing equipment and other expenditure in respect of
manufacture of Portland Cement has been shown under Capital Works in
Progress.
7. The Company has not made any provision in respect of interest
payable on Development Loan as the Company has made an application for
waiver of interest and the application is pending before the
appropriate authorities.
8. In the absence of Profit, no Dividend on Redeemable Preference
Shares has been provided. The Dividend Payable on Cumulative Preference
Shares up to 31st March, 2010 works out to Rs.64,00,000/-. Previous
Year Rs. 44, 80,000/-.
9. No confirmation of balances has been received by the Company from
its Loans & Advances and Creditors.
10. The Current Assets, Loans & Advances stated in this Balance Sheet
are in the opinion of the Management realizable in ordinary course of
Business of the Company.
11. The Previous Years figures have been regrouped and rearranged
wherever necessary to confirm to the Current Years figures.
12. Figures have been rounded off to the nearest Rupee.
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