(1) Figure for the previous year has been regrouped and re-casted
whenever necessary. Figures are rounded off to the nearest rupees.
(2) Depreciation has been provided on SLM basis by adopting the rates
prescribed under schedule XIV of the companies act, 1956. Deprecation
on addition for the year has been provided on prorate period of uses.
(3) In the absence of taxable profit arising in the foreseeable future,
deferred tax as per accounting standard-22 prescribed by the institute
of chartered accountants of India, arising on the timing difference on
account of carried forward losses has not been considered.
(4) During the year company has written of stores, coal and spares.
Actual capacity in terms of fabric is as per certificate given by
management of which Auditors have relied.
License required but the company is registered with textile
commissioner under Registration Certificate No. RC/(p)71 in the year
Manufacturing activities are suspended during the year due to labour
unrest there is no production.
SALES PURCHASE OPENING AND CLOSING STOCK
There are no sales during the year.
RAW MATERIAL CONSUMED
There is no consumption of raw material during the year.
No provision has been made for Income tax for the current year in the
absence of taxable profits.
In the opinion of Board, all the Current Assets, Loans & Advances have
a value on realization in the ordinary course of business at least
equal to the amount at which they are stated except as expressly stated
Balance of Sundry Debtors, Sundry Creditors and Loans & Advances are
subject to the confirmation which includes certain old balances.