Note No 1.1 Terms/rights attached to equity shares
(A) The company has only one class of equity shares having a par value
of Rs. 10 per share. Each holder of equity shares is entitled to one vote
per share. The dividend proposed by the Board of Directors is subject
to the approval of the shareholders in the ensuing Annual General
(B) The amount of per share dividend of Re. 1.00 (Previous Year Re.
1.00) has been proposed to be distributied to equity shareholders for
the year ended 31/03/2012. The total amount of dividend shall be Rs.
3,489,349/- (Including Dividend Distrubition Tax Rs. 487,049/-).
(C) In the event of liquidation of the company, the holders of equity
shares will be entitled to receive remaining assets of the company,
after distribution of all preferential amounts. The distribution will
be in proportion to the number of equity shares held by the
Note No. 2.1
The company has not received information from vendors regarding their
status under the Micro, Small and Medium Enterprises Development Act,
2006 and hence disclosures relating to amounts unpaid as at the year
end together with interest paid / payable under this Act, have not been
given. The same has been relied upon by the Auditors.
Note No 3.1
Aggregate market value of Quoted Investments Rs. 15,625,635/- (previous
year Rs. 20,895,690/-)
Note No 4.2
Accounting Policy of Investments
Long term Investments are stated at cost. Provision for diminution in
value of long term investments is made only if such decline is other
than temporary in the opinion of the management. Dividends are
accounted for as and when received.
Note No 5.1
Accounting Policy of Deferred Tax
The deferred tax for timing differences between the book profits and
tax profits for the year is accounted for using the tax rates and laws
that have been enacted or substantially enacted as of the balance sheet
date. Deferred tax assets arising from timing differences are
recognized to the extent there is a virtual certainty that these would
be realized in future and are reviewed for the appropriateness of their
respective carrying values at each balance sheet date.
6. CONTIGENT LIABILITY
As at March As at March
Particulars 31.2012 31.2011
1) Disputed Rent Liability 12,459,661 12,459,661
2) Disputed Income Tax Liability 1,470,644 11,145,349
3) Disputed Sales Tax Liabilty 8.227.470 8.374.904
Accounting Policy of Employee Benefit
(i) Short term employee benefits are recognised as an expense at the
undiscounted amounts in the Statements of Profit & Loss for the year in
which the related service is rendered .
(ii) Contribution payable to the Provident Fund and Superannuation
Scheme which is Defined Contribution Scheme is charged to Statement of
Profit and Loss as and when incurred.
(iii) Liabilities in respect of defined benefit plans are determined
based on actuarial valuation made by an independent actuary as at the
balance sheet date. The actuarial gains or losses are recognised
immediately in the Statement of Profit and Loss.
(i) The company is into two main business segments, namely;
Electronics - Computer peripherals and systems Chemicals - Export of
Textile Dyes and Intermediates Segments have been identified and
reported taking into account, the nature of products and services, the
differing risks and returns, the organisation structure, and the
internal financial reporting systems.
(ii) Segment Revenue, Results, Assets and Liabilities induce the
respective amounts identifiable to each of the segments and amounts
allocated on a reasonable basis.
c) Sub lease Income recognized In the statement of Profit and Loss for
d) There is no Contingent Rent.
e) The Company''s major leasing arrangements are in respect of
godowns/office premises (including furniture & fittings therein
wherever applicable taken on leave and licence basis). These leasing
arrangements, which are mostly cancelable, range between 11 months to 5
years and are usually renewable by mutual consent at mutually agreed
terms and conditions.
5. Balances of Trade Receivables, Trade Payables and Loans and
Advances are subject to confirmation and consequential adjustment, if
6. In the opinion of the Board, Current Assets, Loans and Advances
have value in the ordinary course of business at least equal to the
amount at which they are stated.
7. The previous year figures have been regrouped/reclassified,
wherever necessary to confirm to the current presentation as per the
revised schedule VI.