Terms / right attached to equity shares
The Company has only one class of ordinary shares having par value of
Rs.10 each. Each holder of equity shares is entitled to one vote per
share. The shares do not enjoy any preferential rights or bear any
restrictions with regard to distribution of dividend or repayment of
capital in proportion to their holding.
1. Other Disclosures
1.1 The Financial Statements for the year ended 31st March, 2012 are
prepared as per Revised Schedule VI to the companies Act 1956.
Accordingly, the previous period figures have been reclassified to
conform to this year classification. The adoption of revised Schedule
VI for the previous period figures does not impact recognition and
measurement principles followed for preparation of Financial Statements
a) Balances in Loans and advances, TDS certificates Receivables /
Recoverable, Advance from customers, Sundry Creditors, Advances from
Customers and Sundry Debtors are subject to reconciliation,
confirmation and consequential adjustments, if any.
b) In the opinion of the management, the value of Current Assets, Loans
and Advances, on realisation in the ordinary course of business, will
not be less than the value at which these are stated in the Balance
1.2 In the opinion of the Board, the Current Assets, Loans and
Advances are stated at approximately of the value so stated if realized
in the ordinary course of business, except unless stated otherwise. The
Provision for all known Liability is adequate and not in excess of the
amount considered reasonably necessary.
1.3 The company has not made any deposits at the Balance Sheet date to
the Investors Education and Protection Fund.
1.4 There are no delays in payments to Micro and Small Enterprises as
required to be disclosed under the Micro, Small and Medium Enterprises
Development Act, 2006. The above information and that given in Schedule
11 Current Liabilities regarding Micro and Small Enterprises
has been determined to the extent such parties have been identified on
the basis of information available with the company. This has been
relied upon by the auditors
1.5 Deferred Tax
In compliance with the AS 22 on Accounting for taxes on Income
issued by the Institute of Chartered Accountants of India, the company
has provided necessary Income Tax as applicable in accordance with
provisions of the Income Tax, 1961. The Company has not recognized
Deferred Tax Asset /Liability during the year.
Comparative Financial information, presented in accordance with the
Corresponding Figure Financial Reporting Framework set out in Auditing
and accounting Standards AS 25 on Comparatives Figures of the
Previous Year issued by the Institute of Chartered Accountants of
India, have been regrouped and reclassified wherever necessary to
correspond to Figures to the Current Year as per New Schedule VI.