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My Fair Lady
BSE: 526622|ISIN: INE244C01012|SECTOR: Personal Care
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« Mar 12
Notes to Accounts Year End : Mar '13
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.
 89,11,734/- 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.Y.2000-2001)        58,77,118.00
 
 E) Against Sales Tax (A.Y.2002-2003)         3,01,468.00
 
 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, 2013 is NIL (Previous Year:- NIL)
 
 5.  Debits and credit balances of suppliers, customers and other are
 subject to confi rmation and reconciliation.
 
 6.  Balance in non-operative bank accounts are subject to confi
 rmation and reconciliation.
 
 7.  The earning per share, basic as well as diluted, is Rs. 0.06 per
 share.
 
 8.  Notes 1 -20 form as integral Para of the accounts and have been
 authenticated as such.
 
 9.  Employee Benefi ts 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 fi ve year old.
 
 10.  Previous year''s fi gures have been regrouped, reclassifi ed
 and rearranged in pursuant of revised schedule VI wherever nec- essary
 to correspond with the fi gures of the current year.
Source : Dion Global Solutions Limited
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