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Kamdhenu Ispat
BSE: 532741|NSE: KIL|ISIN: INE390H01012|SECTOR: Steel - Medium / Small
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Notes to Accounts Year End : Mar '13
1. Contingent Liabilities and Commitments (to the extent not provided
 for) lAmount in *:
 
 a.  Contingent Liabilities
 
 (A) Cairns agains; the company not acknowledged as debt
 
 - Ceniral Excise & Service Tax             42.160.&45    23.692.62S
 
 - Income Tax                                3,921,000    36.095.148
 
 - Sales Tax & Central Sales Tax            37.542.436    38.494.436 
 
 {B) Guarantees Issued by Bank.             1.5 20.000     2.236.590
 
                                            90,164,051
 
 b.  Commitments
 
 Estimated amount of contracts 
 remaining to De executed an capital 
 account and not crowded 
 for ''Net of advance}                        4.965.585    2.626.328
 
                                             4,965.585    2,626.326
 
 TOTAL (a b) 
 
 2.  Some of the balances of Trade Receivables, Trade Payables,
 advances and Security deposits as on 3 1.03.2013 and sub|ect
 tdconfjiinatioo. Trade Receivables, outstanding for mere than six
 months includes fts. 2,66,78,776 on w*nch legal cases have been
 initiated for recovery by the company. The management of the company is
 hopeful of favourable decision on such legal cases, hence no provision
 for bad and doubtful debts have been considered.
 
 3.  In the opinion of the management, current & ncr> current assets,
 toans a advances have a value on realisation In the ordinary course of
 bus.ness at least equal io the amount at which thay are stated m the
 Balance Sheet,
 
 4.  The Company has already initiated the process of obtaining copes
 of memorandum filed with the concenied authority by entities falling
 under the M5MED Act 2006. The Company has received copies of the sad
 memorandum as on date from few entities and outstanding amount against
 these memorandums are NIL,
 
 5.  The company does not have any fund for gratuity and leave
 encashment liability and same is accounted for as provision on actural
 basis, The following table summarizes thecomponentsofnet
 benefits/expenses reconginsed ir.the statement of profit & toss and
 balance sheet.
 
 6. As per Accounting Stindand-1 7 Segment Reporting'' issued by iCfii,
 the Company has identified three reportable bus-ness segments v
Source : Dion Global Solutions Limited
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