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My Fair Lady
BSE: 526622|ISIN: INE244C01012|SECTOR: Personal Care
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Mar 13
Notes to Accounts Year End : Mar '14
1 The Company has some pending cases with sales tax and central excise,
 which the company has not acknowledged as debt.
 
 2 Contingent Liability
 
 i.  There are disputed Liabilities on account of Sales Tax amounting
 Rs. 31,17,252/- the below mentioned disputes had been appealed before
 the appropriate appellate authority :
 
 A) Against Sales Tax (A.Y 1988-1989) 7,66,336.00
 
 B) Against Sales Tax (A.Y 1998-1999) 13,45,091.00
 
 C) Against Sales Tax (A.Y. 1999-2000) 6,21,721.00
 
 D) Against Sales Tax (A.Y2000-2001) 3,84,104.00
 
 ii.  There is disputed Liability on account of Central Excise,
 amounting Rs. 25,00,000/- being penalty as per order No.  18/2009 dated
 30/03/2009 of Commissioner, Central Excise, Delhi received by the
 Company on 16-06-2009. We have been informed by the management of the
 Company that the said demand will be contested in appeal before the
 appropriate appellate authority within the stipulated time allowed as
 per law.
 
 iii. The performance Bank Guarantee amounting to Rupees 44,09,550/-
 have been issued to parties.
 
 3.  In the opinion of management, Current Assets, Loans and Advances
 have a value on realization in the ordinary course of business at least
 equal to that stated in the Balance Sheet.
 
 4.  Capital and other commitments: The estimated amount of contracts
 remaining to be executed on capital account and not provided for as at
 31st March, 2014 is NIL (Previous Year:- NIL)
 
 5.  Debits and credit balances of suppliers, customers and other are
 subject to confirmation and reconciliation.
 
 6.  Balance in non-operative bank accounts are subject to confirmation
 and reconciliation.
 
 7. The earning per share, basic as well as diluted, is Rs. 0.19 per
 share.
 
 8.  Notes 1 -20 form as integral Para of the accounts and have been
 authenticated as such.
 
 9.  Employee Benefits Disclosures required under Accounting Standard
 15
 
 The provision of the Gratuity Act is not applicable to the company. The
 company does not have any employee more than five year old.
 
 i). Dynamic Movers-Blueview-Khazana has been awarded a contract
 amounting to Rs. 6 Crore by East Central Railway for the work related
 in connection with the New B.G Rail line Between Koderma-Giridih,
 Reach-VII.
 
 10. Previous year''s figures have been regrouped, reclassified and
 rearranged in pursuant of revised schedule VI wherever necessary to
 correspond with the figures of the current year.
Source : Dion Global Solutions Limited
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