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Notes to Accounts of IIRM Holdings India Ltd.

Mar 31, 2013

1.1 Provision, Contingent Liabilities and Contingent Assets

Provisions involving substantial degree of estimation in measurement are recognized when there is a present obligation as a result of past events and it is probable that there will be an outflow of resources. Contingent liabilities are not recognized but are disclosed in the notes. Contingent assets are neither recognized nor disclosed in the financial statements.

1.2 The Current Assets. Loans & Advances has value equal to the amount at which they are stated and provisions for known liabilities have been made.

1.3 Notes are integral part of the Balance Sheet and Profit & Loss Account.

1.4 The company does not have any suppliers under the Micro, Small & Medium Enterprises Development Act, 2006 and hence disclosures, if any, relating to amount unpaid as at the yearend together with interest paid/payable as required under the said Act have not been provided.

1.5 All known liabilities have been provided for on the basis of available information/ estimates.

1.6 Foreign exchange: There is no foreign exchange expenditures of the company.

1.7 Estimated amount of contracts remaining to be executed capital accounts is NIL.

1.8 Earning in Foreign Currency is NIL.

1.9 The Current Assets, Loans & Advances has value equal to the amount at which they are stated and provisions for known liabilities have been made.

* In the opinion of the Board the Current Assts, Loans & Advances have been valued on realization in the ordinary course of Business.


Mar 31, 2012

1.1 The UPFC loan has been settled & all the assets have been released by the UPFC.

1.2 Company has entered one time settlement scheme under UPSC has paid off the settlement amount against by selling Fixed assets, Land, Building and Plant & machinery.

1.3 The Current Assets, Loans & Advances has value equal to the amount at which they are stated and provisions for known liabilities have been made.

1.4 Notes are integral part of the Balance Sheet and Profit & Loss Account.

1.5 The company does not have any suppliers under the Micro, Small & Medium Enterprises development Act, 2006 and hence disclosures, if any, relating to amount unpaid as at the yearend together with interest paid/payable as required under the said Act have not been provided.

1.6 All known liabilities have been provided for on the basis of available Information/ estimates.

1.7 Foreign exchange: There is no foreign exchange expenditures of the company.

1.8 Estimated amount of contracts remaining to be executed capital accounts is NIL.

1.9 Earning in Foreign Currency is NIL.

1.10 The Current Assets, Loans & Advances has value equal to the amount at which they are stated and provisions for known liabilities have been made.

1.11 A company does not have any information regarding status of supplier under Micro, Small or Medium.

* All known liabilities have been provided.

* Contingent liabilities NIL.

* In the opinion of the board the Current Assts, Loans & Advances have been valued on realization in the ordinary course of Business.

* Company has paid Rs 661408/- Income tax for the year 2004-05 under the protest and matter is under appeal at CIT.


Mar 31, 2010

1 The possession of the plant of company at sikandarabad (U.P.) has been taken over by the U.P.F.C.

2 The company has not provided for interest on term loan from UPFC from F.Y. 2003-2004 onwards.

3 Estimated amount of contracts remaining to be executed on capital accounts and not provided (net of advances) is Rs. NIL and previous year also Rs. NIL.

4 Earning in Foreign Currency-NIL

5 The Companies does not own any amount to small scale Industrial Undertaking as on 31st March, 2010.

6 Contingent Liability:

(a) The company has not provided for interest on term loan from UPFC. The company is in negotiation for one time settlement with UPFC.

(b) There was one Income Tax demand against the company which the company has won in ITAT, New Delhi now the case is being contested through appeal in High Court of delhi by the IT department against the company.

7 In the opinion of the Board, the current asstes, Loans & Aadvances have been valued on realization in the ordinary course of business equal to the aggregate amount stated in the balance sheet and all known liabilities have been provided for.

8 Balances of sundry debtors, sundry creditors, loans and advances recoverable are subject to reconciliation and confirmation.

9 The comparative figures have been regrouped and / or rearranged wherever necessary and possible.


Mar 31, 2009

Not Available


Mar 31, 2008

1. The possession of the plant of company at Sikandrabad (U.P.) has been taken over by the UP financial corporation.

2. The company has not provided for interest on term loan form UP Financial corporation from financial year 2003-2004 onwards.

3. Estimated amount of contracts remaining to be executed on capital accounts and not provided for (net of advances) Rs. NIL (Previous year Rs. NIL)

4. CONTINGENT LILABILITY

(a) The Company has not provided interest on term loan from UP financial Corporation. The Company is in negotiation for one time settlement with the UP financial corporation.

(b) There are various Income Tax & Sales Tax demand which are being constructed by the company.

5. In the opinion of the Board, the current Assets, Loans & Advances have value on Realization in the ordinary course of business at least equal to the aggregate amount states in the Balance Sheet and all known liabilities have been provided for.

6. Balances of sundry Debtors, sundry Creditors, Loans & Advances Recoverable are subject to re-conciliation and confirmation.

7. Remuneration paid to the Directors is as follow :

CURRENT PERIOD PREVIOUS PERIOD Salary and Allowances NIL NIL


Sep 30, 1995

Contingent Liability not provided for- (Nil).

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 aggregate amount stated in the Balance Sheet and all known liabilities have been provided for.

The Company has extended its financial year from ending 31-03-95 to ending 30-09-95 and accordingly the financial year is a period of 18 months.

During the year under review, the Company's project to manufacture Plastic Roto Moulded products is under implementation. The Company, however, commenced its trading operations with effect from 1st October, 1994 and therefore, the Profit and Loss Account has been prepared for the period from 1st October, 1994 to 30th September, 1995.

All expenditure for the period from 1st April, 1994 to 30th September, 1994 and thereafter expenses attributable to the project under implementation has been transferred to Project and Pre-operative Expenditure (pending allocation) to fixed assets/other appropriate heads.

No provision has been made in respect to Technical Know-how Fees payable to Foreign Collaborators amounting to Rs. 5.20 lace. The same will be capitalised as and when paid.

In the absence of confirmation from various parties, the debit and credit balances of various parties included under "Sundry Debtors" and "Sundry Creditors" in the Balance Sheet are as per Ledger.

The Company has closed its financial year on 30th September for the purpose of compliance with the provisions of the Companies Act, 1956 as against 31st March being the previous year for Tax purposes as per provisions of Section 3 of Income Tax Act, 1961. Accordingly, in the absence of profit for the year ended on 31st March, 1995 no provision has been made for the assessment year 1995-96.

The Company's profit for the period 1st April, 1995 to 30th September, 1995 together with those for the subsequent period to 31st March, 1996 will be assessable as one composite income for the Assessment Year 1996-97 and in view of this, no provision for taxation has been made as the tax liability in respect of said period of six months cannot, be quantified at present.


Mar 31, 1994

Information not Reported

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