1] Related party disclosure
Director Remuneration Rs. 2,98,000/-
2] Information u/s. 217(2A) of Companies Act, 1956 read with the
Companies (Particulars of Employees) Rules, 1975 and forming Part of
Directors Report for the year ended 31-03-2010.
Details of Employees drawing salary not less than Rs.24, 00,000 P.A. or
Rs. 2, 00,000 P.M. : NIL
3] Payment to Auditor
As Auditor : Rs. 11,000/- 8] Segment reporting
The company has disclosed PVC, HDPE 8s LATERAL PIPES business segment
as primary segment. The turnover from business segment is Rs. 9.19
4] Company has not made any provision in respect of interest payable on
raw material advance given by G.S.C.I informs that the matter is still
pending before honorable Gujarat High court. By an interim order dated
13-10-2000 ordered the company to pay upto at least 20% of the
outstanding amount by 15-ll-2000.the order further stated to approach
GSIC has not responded to the request of interest waiver made by the
company, the honorable Gujarat high court by its order dated
16-08-2002,has disposed of the petition laying down criteria''s for
determination of (a) amount to be paid (b) the manner in which the
installments to be determined in view of financial condition of the
company and (c) the rate of interest which shall in no case exceed 12 %
The company however has not made any provision for interest payable to
G.S.I.C. Amount unascertained. To the extent of non provisioning the
expense and losses of the company are understated.
5] The company has not made any provision for income tax in view of
6] No provision has been made for short fall in the value of the
investment in M/S Nada Dyes 8s Chemicals as well as advances granted to
it. Considering all the relevant facts, full amount deserved to be
written off. To that extent, the losses of the company are under
7] In view of uncertainty of future income to wipe off the accumulated
lossess of the company, deferred tax provisions have not been
8] We draw attention of the members towards the deteriorating
financial status of the company. The company has accumulated losses of
Rs. 186.95 lacs as against the paid up capital of Rs.362.74 lacs. As
such substantial part of the capital has been wiped out by losses.
9] In the opinion of directors, all current assets, loans and advances
are approximately of the value stated if realized in ordinary course of
business and provision for all known liabilities are adequate and not
in excess of amount reasonably necessary.
10] Debit/Credit balances under the head Current Liabilities, Sundry
Debtors, Unsecured Loans, Loans and Advances and deposits are
subject to confirmation from respective parties.
11] Previous year''s figures are regrouped whenever necessary.