1. The Company is in the business of finance and there are no
additional information required to be given under Part II of Schedule
VI of the Companies Act, 1956.
2. In the opinion of the Board, current assets, loans & advances are
approximately of the value stated, if realised in the ordinary course
of business. The provision for all known liability is adequate and not
in excess of the amount reasonably necessary.
3. The Company has complied with guidelines issued by the Reserve Bank
of India in respect of Prudential Norms for Income Recognition,
Provision for Doubtful Debts and Accounting Standards.
4. In accordance to the requirements of Accounting Standard 22 (AS-22)
on Accounting for Taxes on Income, the Company has provided for
Deferred Tax Asset on provision for Non performing Assets (Loans). The
accumulated amount of deferred tax credit amounting to Rs. 1270604 up
to 31.03.2001 has been shown as adjustment to brought forward amount of
profit from previous year and the credit for an amount of Rs. 5505782
for the current year has been adjusted in the Profit & Loss Account for
5. Figures of Previous year have been regrouped and recast wherever