Note 1 Contingent Liabilities and Commitments
As at 31st
March, 2013 As at 31st
Contingent Liabilities :
Unexpired Bank Guarantees 21,22,765 21,10,942
Provisional License fee Assessment 43,30,195 43,30,195
Company has received Revised provisional license fee assessment notice
from Department of Telecommunications-AP circle for the years 2005-06,
2006-07,2007-08and 2008-09 w.r.t ISP(IT) License for Rs. 43,30,195/-
which is disclosed as contingent liability for the year ended 31st
March 2012.However the management feels that even this demand is not
tenable and hence liability is not provided in the books of accounts.
In line with revised Schedule VI, figures for the previous year have
been regrouped, recast and rearranged.