1 There were no contingent liabilities as at 31st March, 2011.
(Previous Year Rs. Nil).
2 The Company has neither earned nor incurred any amount in foreign
currency during the year (Previous Year Rs. Nil).
3 In the opinion of the Board, the Current Assets and Loans and
advances have a value on realization in the ordinary course of business
at least equal to the amount at which they are stated. The provision
for depreciation and for all known liabilities is adequate and not in
excess of the amount considered necessary,
4 The balances of Sundry Debtors, Sundry Creditors, deposits and
advances with various parties are subject to confirmation and
reconciliation, if any.
5 DEFERED TAXATION :
In accordance with Accounting Standard 22 Accounting for Taxes on
Income issued by ICAI, the Company has accounted for deferred taxes
during the year.
6. Segment information required to be disclosed in accordance with
Accounting Standard 17 (AS-17) relating to Segment Reporting is
attached with report.
7. The previous year''s figures have been regrouped and/or rearranged
wherever found necessary.
8. Figures are rounded off to nearest rupee,
9. Related parties disclosures:
(A) Related parties with whom transaction have taken place during the
(i) Key Management Personnel : Mr. Pramod Sharma Executive Director
Mr. Rushikesh Narlawar Non-Executive Director
Mr, Manoj More Independent Director
Mr. Shashikant Modi Independent Director
Mr. Sunil Shivkumar Saini Independent Director
Mr. Manish Kumar Goyal Independent Director
(ii) Relative of Key Management Personnel: Mr. Pawan Chaudhary
(B) Transaction carried out with related parties referred in A above,
in ordinary course of Business : There was no transaction with related
party during the year.
10. In view of wide-ranging quality and size of fabric elastic,
separate disclosure of quantities of individual item has not been given
as considered not practicable by the management.