I. CONTINGENT LIABILITIES
A (i) On account of demand by Income Tax Department
Of wealth Tax for two years Rs.49,941 (Rs.49,941)
(ii) On account of demand for additional
charges by Hire
Purchase Finance Company and disputed by the
company Rs.9,207 (Rs.9,207)
B (i) The company has not accepted the demand by a secured creditor to
the extend of Rs.(9,207) towards various charges and the same is under
dispute for which no provision has been made in the books of accounts.
(ii) The company has filed wealth tax returns with no liability towards
wealth tax for assessment year 1990-91 to 1992-93 for Rs.
49,941(49,941). The same has been contested by the company before
1. Confirmation of balances has not been received in respect of
current liabilities and provisions current assets and loans and
2. No employee had received remuneration in excess of the amount
specified in the rules U/s 217(2A) of the Companies Act, 1956
3. Figures have been rounded of to the nearest Rupee.
4. Figures of the previous years have been regrouped wherever
necessary to confirm to the current year presentation.
5. Figures in the brackets represent previous year figures.
6. There are no Micro and Smail Enterprises, to whom the Company owes
dues, which are outstanding for more than 45 days as at March 31,2012.
This is information as required to be disclosed under The Micro, Small
and Medium Enterprises Development Act, 2006 (the act) has been
determined to the extent such parties have been identified on the basis
of information available with the company.