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Moneycontrol.com India | Notes to Account > Food Processing > Notes to Account from Fortune Foods - BSE: 519187, NSE: N.A
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Fortune Foods
BSE: 519187|SECTOR: Food Processing
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Fortune Foods is not traded in the last 30 days
Fortune Foods is not listed on NSE
« Mar 08
Notes to Accounts Year End : Mar '11
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 :
 
 Segmental information:
 
 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.
Source : Dion Global Solutions Limited
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