1 . In the year 2006-07 Company has opted Sales tax NPV discounted
payable scheme and discounted the sales lax deferral liability of Rs.
S. 76crores to Rs.2.29 crores. However, the company has not paid the
amount till date and reversed the annual discounted value of the Sales
lax deferral liability as interest; and as on 31.03.201 shown the
deferral sales tax liability as unsecured loan for Rs.3.44 ; crores.
Hence, as on 31.03.201 1 the discounted value of'' sales tax defer
reliability not ye! reversed is Rs.2.09 crores.
- The Company has show an advance (assets) of Rs.5.98 lacs as an
receivable from the Provided Fund department. Hoover.)n department
is claiming t, as an recovery on account of provided fund. The matter
is under dispute and pending at High t dun Tin disputed amount is not
provided in the books of accounts as a liability, as there is legal
interpretation and the tin. decision of the case is awaited.
(a) Job Work Activity .
In case of Job Work) all the inventory belong to the customer and not
forming part of our Closing Inventory.
accordance with the requirements of Accounting Standard 18 i.e.
Related Party Disclosures issued by the Institute of Chartered
accountants of India, the details of related party transactions are
given below :
During the year the Company is also engaged in job work processing to a
large extent. Therefore, to have a more meaningful work. According years
figures are recalculated. Pelf products sales in earlier
year to se8mentreported as Sales and Job outstanding amount & interest
to Micro, Small & Medium Enterprises As per information and details
available in the Previous year there is no payable or interest is
outstanding or due to Micro & Medium Enterprises registered under
the Micro, Small & Medium Enterprises Development Act, 2006.
Prior year figures
Previous years figures have been regrouped and reclassified, wherever
necessary, to conform to the current year''s presentation.