1. The value on realization of current assets in the ordinary course of
business would not be less than the amount at which they are stated in
the Balance Sheet. According to the management, provision for all the
known liabilities is adequate.
2. Balances in Debtors, Creditors, loans, advances, and other current
assets are subject to confirmation and reconciliation.
3. The Company is a Small and Medium Sized Company (SMC) as defined in
the General Instructions in respect of Accounting Standards notified
under the Companies Act, 1956. Accordingly, the Company has complied
with the Accounting Standards as applicable to a Small and Medium Sized
4. The Micro, Small and Medium Enterprise Development Act, 2006 has
repealed the provision of interest on delayed payment to small scale
and ancillary industrial undertaking Act, 1993. The management does not
find it necessary to provide for interest on delayed payments to the
suppliers covered by the said Act in view of insignificant amount and
probability of its outgo.
5. Related Party Disclosures, as required by AS-18 are given below:
Category I: Holding Company NIL
Category II: Key management Personnel
PriyaN. Mehta,Nirav P. Mehta,Purnima P. Mehta,Sujit Mehta
Category III: Others (Relatives of Key Management Personnel and
Entities in which the Key Management Personnel have control or
significant influence) Subir Diamonds Private Ltd.