1. Contingent Liabilities of
Amount in Rupees
(a) Letter of credit by bank 14,23,829 NIL
(b) Disallowance of expenses under
Income Tax Act for A.Y.- 1996-97 13,51,672 13,51,672
matter pending with High Court of
2. The figures are rounded off to the nearest rupee and are regrouped
or rearranged, wherever necessary to make them comparable.
3. Sundry Debtors, Sundry Creditors, Loans and Advances, Deposits and
Personal Accounts either debit or credit are subject to conformation
from parties and reconciliation if any.
4. In the opinion of the Board, the current assets, loan and advance
have a value on realisation in ordinary course of business at least
equal to the amount at which they are stated.
5. Segment Reporting :
Company has only one primary segment of manufacturing and sale of
labels and doses not fall under secondary segment. In view of this,
details of segment information is not given as required by AS 17
Segment Reporting issued by The Institute of Chartered Accountants of
6. Related Party Transactions
(A) Related Parties and nature of relationship
Sr.No. & Name of Related Party Description of Relationship
1. Mr. Dinesh Bilgi Chairman & Managing Director
2. Mr. Neel Bilgi Executive Director
3. Mr. Pragnesh K. Shah Executive Director
4. Mr. Chirag Bilgi Executive Director
5. Mr. Laxman C. Tilani Director
7. Bad debts of Rs. 17,05,096/- in Note no. 23 of Financial Statement
includes Rs. 8,77,487/- in respect of Export Debts for which
Application to get approval for write-off from Authorised Dealer is
made on 11/05/2012 as required under FEMA. Approval, for which is yet
to be received.