NOTE 1.1 :
The Company has only one class of equity shares having a par value of
Re.l per share .
Each equity Shareholder is eligible for one vote per share . The
dividend proposed by the Board of Directors is subject to the approval
of shareholders , except in case of interm dividend .In event of
liquidation , the equity shareholders are eligible to receive the
remaining assets of the company , after distribution of all
preferential amounts ,in proportion of their shareholding.
ACCOUNTING POLICIES & NOTES FORMING PART OF THE ACCOUNTS:
The Audited accounts are prepared on the basis of material available
with the Company . The Company has filed a complaint with the MIDC
Police station for missing/stolen of all the statutory records and
books of accounts from the registered office of the company.
1. None of the raw materials, stores, spares and components consumed
or purchased during the year have been imported.
2. None of the expenditure has been incurred in foreign currency.
3. None of the earnings are in foreign currency
4. Balance of Debtors, Creditors, Depositors, Loans and Advances are
subject to confirmation.
5. In the opinion of the Board, the Current Assets, Loans & Advances
are approximately of the value stated if realized in the ordinary
course of business. The provision for depreciation and all known
liabilities are adequate and not in excess of the amounts reasonably
6. Investments of the Company have been considered by management to
be of a long term nature and hence they are long term investments and
are valued at cost of acquisitions.
7. Segment Accounting Policies are in line with the accounting
policies of the Company.
DEFFERED TAX ON INCOME
8. The differed tax has not been recognized in financial statement,
as there is no reasonable certainty of future taxable income.
9. Previous year''s figures have been regrouped, rearranged wherever
necessary to make them comparable with those of current year.