(a) There is no payment overdue to small-scale industries.
(b) The balance of advances, debtors and creditors are confirmed by
majority of parties and efforts are being made for obtaining
confirmations from remaining parties
(c) CENVAT: Capital expenditure and raw materials have been taken at
net value after adjusting cenvat, wherever applicable as per guidelines
issued by The Institute of Chartered Accountants of India..
(d) In the opinion of the Board, Current Assets, Loans and Advances are
approximately of the value stated, if realised in the ordinary course
of business, the provisions for all known liabilities are adequate and
not in excess than reasonably necessary.
(e) Some of the banker of the company has restructure the loan where by
interest w.e.f 1/1/2012 to 31/03/2013 has been converted in to FITL at
the rate approved by the bank at the time of restructuring
(f) Technology up gradation and Modernisation of plant and machinery:-
To keep pace with the developments in the Textile Sector, the company
set up an in house Expert Group to suggest measures for Technology up
gradation and Modernisation of Plant and Machineries in the units. As
per their recommendations, old machines including Ring Frames,
requiring huge expenditure towards repairs and maintenance consuming
high power with low out put have been identified and shifted to
workshop/godowns for appropriate action.
(g) Figures of previous year have been re-grouped/re-arranged wherever
(h) THE COMPANY HAS ONLY ONE BUSINESS SEGMENT THAT IS
TEXTILE AND HENCE SEGMENT REPORTING AS REQUIRED UNDER AS-17
ISSUED BY ICAI IS NOT APPLICABLE.
(i) AS-18 RELATED PARTY DISCLOSURE:
Related party disclosures as required by AS-18 Related Party
Disclosures are given below. [Related parties are as identified by
the Company and relied upon by the Auditors]: