1. The factory was totally closed during the last financial year. The
normal wages have been provided in the books for the workers who are
still on the payroll of the company however no payment have been made
on account of wages to the workers and therefore no accounting entries
have been passed in the books for Provident Fund and ESIC.
2. Previous year figures have been regrouped and/or rearranged where
necessary, for comparison purpose.
3. Confirmation from Debtors, Creditors, Loans and Advances, Banks for
their balances and from parties, Branches and subcontractors for
materials lying with them are not taken.
4. Expenditure in Foreign Currency on foreign travel during the year
was Rs. Nil (previous year Nil).
5. Excise Duty paid on Finished Stock at branches is considered as
6. Sundry Debtors include a firm in which the company is a partner --
Silvan Roche Electronics Rs. 138.83 lacs (previous year Rs. 138.83).
Maximum amount due Rs. 138.83 lacs (Previous year Rs. 138.83 lacs).
The firm has a negative net worth as per the latest available Balance
Sheet, however the same has been provided for as doubtful debts in the
7. Company has investment of Rs. 180.98 lacs (Previous Year Rs. 180.98
lacs) in partnership firm M/s SILVAN ROCHE ELECTRONICS having negative
net worth as per latest available balance sheet with 5% shares in
profits and losses.
Total Fixed Capital of the firm of Rs. 1000.
Details of other partners and their Share in profit and loss are as
Rochiramsons Trading & Investment Pvt. Ltd. 5%
Tinans Trading & Investment Pvt. Ltd. 5%
Nangat Trading & Investment Pvt. Ltd. 5%
Minaprisi Trading & Investment Pvt. Ltd. 5%
Peenarayan Trading & Investment Pvt. Ltd. 5%
Peepriya Trading & Investment Pvt. Ltd. 5%
Jayshaks Trading & Investment Pvt. Ltd. 5%
Jayslids Trading & Investment Pvt. Ltd. 5%
Lotus Electronics Ltd. 5%
Mamada Electronics Ltd. 5%
Sabarmati Electronics Ltd. 5%
Ocean Electronics Ltd. 5%
Ralelectronics Ltd. 5%
Cactus Electronics Pvt. Ltd. 5%
Sutlaj Electronics Pvt. Ltd. 5%
Baron Engineering Co. Ltd. 5%
Mrs. S. R. Mulchandani 10%
As per the latest available Balance Sheet of the firm, it is in losses.
8. Share of losses from the Firm is not taken as accounts for March 95
onwards are not received.
9. Public issue Expenses of Rs. 5,39 lacs incurred in year 1991-92 are
considered as deferred revenue expenditure and is to be amortised over
10 years period. Hence Rs. 2.54 lacs are written off in the current
10. The Gratuity and leave salary is accounted for on cash basis. No
provision for accrued liability of Gratuity and leave salary is made as
the same is not ascertained.
11. Confirmation is not obtained for machinery lying in bonded
warehouse C.I.F. value Rs. 23.58 (23.58) lacs, Raw material stock of
Rs. 169.91 (169.91) lacs lying in bonded warehouse and Finished Goods
of Rs. 21.95 (21.95) Lacs lying at the various branches of the company
which are presently not operating.