1. Contingent liabilities in respect of
(Rs in Lacs)
As at 31st
Mar 2012 As at 31st
Disputed demand of Central
Excise/Income Tax Department 305.61 417.08
2. Estimated amount of contracts remaining to be executed on capital
account (net of capital advances) for tangible assets and not provided
for Rs 845.10 Lacs [Previous year Rs 28.90 Lacs].
3. Tax assessment of the Company under Income Tax Act, 1961 has been
completed upto financial year 2008-09 and the VAT assessment upto
financial year 2008-09.
31. Consequent to inadequacy of profits for the year, under section
349 of the Companies Act, 1956, the remuneration paid to Chairman cum
Wholetime Director has resulted in an excess by Rs 77.23 Lacs, for the
which steps being taken by Company to obtain Central Government
4. Disclosures regarding Derivative Instruments
(a) The Company uses forward exchange contracts to hedge its exposure
in foreign currency. There are no contracts entered into for the
purpose of speculation.
(b) The information on derivative instruments as on 31st March, 2012 is
Defined contribution Plans:
During the year, Rs 74.72 Lacs (Previous year Rs 62.57 Lacs) recognised
as an expense and included in the note 24 of profit & loss statement
under the head Contribution to Provident and other funds.
5. segment Reporting
(A) Primary segment:
In accordance with the requirements of AS - 17 on Segment Reporting,
the Company has determined its business segment as Electric
Transformer. Since all of the Company''s business is from
Electric Transformer, there are no other primary reportable
segments. Thus the segment revenue, segment result, total carrying
amount of segment liabilities, total cost incurred to acquire segment
assets, the total amount of charge for depreciation during the year are
all reflected in the financial statement as of and for the year ended
31st March, 2012.
6. The Revised Schedule VI has become effective from 1st April, 2011
for the preparation of financial statements. This has significantly
impacted the disclosure and presentation made in the financial
statements. Previous year''s figures have been regrouped /
reclassified wherever necessary to correspond with the current year''s
classification / disclosure.