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
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
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.