Mar 31, 2015
1. The estimated amount of contracts remaining to be executed on
capital account and not provided in the books of accounts : Rs. Nil
2. Contingent liabilities in respect of :
a) Claims against the company not acknowledged as debits
b) Dispute Liability:
I. Sales Tax Rs. 113.00 lakhs
3. The Company has not changed the method of valuation of stocks of
Raw Material, Work  in- progress and finished goods
4. Proper provision for income tax is provided in the books after
considering the Tax Deducted at source and brought forward loss
5. RETIREMENT BENEFITS
a) Gratuity: As the company has no employees working for than five
years, no gratuity has been provided by the company in the accounts.
However, the management will be taking steps to introduce Group
Insurance Scheme with the Life Insurance Corporation of India for
Gratuity payment.
b) Provident Fund: The Company is making to enroll with P.F. Authorities.
6. Reimbursement of expenses i.e., conveyance and food etc has been
provided to Directors for attending Board Meeting held during the year.
7. Preliminary expenses have been amortized as per the provision of
section 35D of the Income tax act, 1951.
8. Sundry Debtors/Creditors/ Loans and Advances and subject to the
confirmation and reconciliation.
Mar 31, 2014
1. The estimated amount of contracts remaining to be executed on
capital account and not provided in the books of accounts: Rs.Nil
2. Contingent liabilities in respect of:
a) Claims against the company not acknowledged as debits
b) Dispute Liability:
I. Sales Tax Rs. 113.00 lakhs
3. The Company has not changed the method of valuation of stocks of
Raw Material, Work - inprogress and finished goods
4. Proper provision for income tax is provided in the books after
considering the Tax Deducted at source and brought forward loss
5. Retirement Benefits
a) Gratuity: As the company has no employees working for than five
years, no gratuity has been provided by the accompany in the accounts.
However, the management will be taking steps to introduce Group
Insurance Scheme with the Life Insurance Corporation of India for
Gratuity payment.
b) Provident Fund: The Company is making to enroll with
P.F.Authorities.
6. Sitting Fees of Rs. 1,20,000 has been provided to Directors for
attending Board Meeting held during the year.
7. Preliminary expenses have been amortized as per the provision of
section 35D of the Income tax act, 1951.
8. Sundry Debtors/Creditors/ Loans and Advances and subject to the
confirmation and reconciliation.
Mar 31, 2013
INFLATION:
Assets and Liabilities are recorded at historical cost to the company.
These costs are not adjusted to the reflect the changing value in the
purchasing power of money.
CONTIGENT LIABILITIES:
Contingencies are disclosed.
PRIOR PERID ADJUSTMENTS, EXTRA-ORDINARY ITEMS AND CHANNGES )N
ACCOUNTING POLCY :
There are no prior period adjustments, extra-ordinary items and no
changes in accounting policy as compared to previous years.
Mar 31, 2012
1. The estimated amount of contracts remaining to be executed on
capital account and not provided in the books of accounts : Rs. Nil
2. Contingent liabilities in respect of:
a) Claims against the company not acknowledged as debits :
b) Letter of Guarantee :Rs. Nil(sanctioned Rs.5 lacs, availed :Rs. Nil)
c) Letter of Credit :Rs. Nil(sanctioned Rs.5 lacs, availed ;Rs. Nil)
d) Disputed Liability :
I. Sales Tax Rs.113.00 lakhs
II. Synergy financial Services Limited Rs.102.00 Lakhs
3. The company has not changed the method of valuation of stocks of
work-in-progress and finished goods.
4. No provision for income tax is considered necessary in view of Loss
from operation during the year.
5. RETIREMENT BENEFITS
I. Gratuity : As the company has no employees working for than five
years ,no Gratuity has been provided by the accompany in the accounts.
However, the management will be taking steps to introduce Group
Insurance Scheme with the Life Insurance Corporation of India for
gratuity payment.
II. Provident Fund : The company is making effort to enroll with
P.F. Authorities.
6. Interest to Bank for term loans and working capital loans is
provided as per the documented rates of interest after considering
penal interest on overdoes.
7. Sitting fees of Rs. 1,80,000 has been provided to Directors for
attending Board meeting held during the year.
8. Preliminary expenses have been amortized as per the provisions of
section 35D of the Income tax act, 1961.
9. Sundry Debtors/ Creditors/Loans & Advances and subject to the
confirmation and reconciliation.
Mar 31, 2010
1. The estimated amount of contracts remaining to be executed on
capital account and not provided for in the books of accounts: Rs.NIL
2. Contingent liabilities in respect of:
a) Claims against the company not acknowledged as debits:
b) Letter of Guarantee: Rs.Nil (Sanctioned Rs.5 Lacs, Availed: Rs.Nil)
c) Letter of Credit: Rs.Nil (Sanctioned Rs.5 Lacs, Availed : Rs.Nil)
d) Disputed Liability
i) Sales Tax Rs 113.00 Lakhs
ii) Synergy Financial Services Limited Rs 102. Lakhs
3. The company has not changed the method of valuation of stocks of
work-in-progress and finished goods.
4. No Provision for income Tax is considered necessary in view of Loss
from operation during the Year.
5. RETIREMENT BENEFITS
I) Gratuity: As the company has no employees working for more than five
years, no Gratuity has been provided by the accompany in the Accounts.
However, the management will be taking steps to introduce Group
insurance Scheme with Life Insurance Corporation of India for Gratuity
Payments.
II) Provident Fund: The Company is making efforts to enroll with P.F.
authorities.
6. Interest to Bank for term loans and working capital loans is
provided as per the documented rates of interest after considering
penal interest on overdues.
7. Remuneration of Rs. 1,20,000 has been provided to Directors.
8. Preliminary Expenses have been amortized as per the provisions of
section 35 D of the Income Tax Act, 1961.
9. Sundry Debtors / Creditors / Loans & Advances are subject to
confirmation and reconciliation.
Previous years figures have been regrouped and rearranged wherever
necessary