1. Taxes on Income:
Current tax is determined as the amount of tax payable in respect of
taxable income for the period, deferred tax is recognized subject to
consideration of prudence, in timing differences, being the difference
between taxable income and accounting income that original in one
period and is capable of reversal in one or more subsequent periods
No sales during the year.
B. NOTS ON ACCOUN contracts remaining to be executed on capital
Account And no provided for(net of advance) Rs. NiL(Previous year Rs.
2. A) CONTINGENT LIABILITIES: from Commercial Tax Depart & Income Tax
Department for which no provision has been made as the company has
preferred an appeal.
B) Claims against the company not acknowledge as debts Rs, Nil-
Previous year Rs. Nil.
3. Secured Loans:
The Cash Credit loans from banks are secured by a charge created
through an equitable '' mortgage of immovable properties by deposit of
title deeds and hypothecation of stock in trade, book-debts and stores
& spares present and future.
The Previous year loan outstanding taken as same in this year due to no
banking transactions in this year.
4. Sundry Debtors, Loans and Advances: - on realization of Current
Assets, Loans and advances and other debit balances in the ordinary
course of business will not be less than the amount at which they are
stated in the Balance Sheet.
Pending comprehensive review of balances under Loans and Advances,
considered good by the management, no provision has been considered
towards short fall in recovery in the accounts.
Balances under Sundry Debtors and Loans and Advances are subject to
confirmation from respective parties.
5. Deferred Taxation:
No provision for deferred taxation was made, because of huge loss
suffered by the company.
6. MANAGERIAL REMUNERATION:
Remunerations not paid during the year.
7. AUDITOR''S REMUNERATION:
8. Retirement benefits/ estimated liability for Gratuity/leave
encashment on the Balance Sheet date has not been quantified. The same
will be accounted on actual payment basis.
9. All Sundry Creditors and Debtors are being opening balances, SSC
classification does not apply.
10. The information as required by Para 3 & 4 of part II of the
schedule VI to the Companies Act, 1956 is as under.
11. Previous Year figures have been regrouped / reclassified /recast
wherever necessary to confirm with current year''s classifications.
12. The figures have been rounded off to the nearest rupee.
13. There are no related party transactions during the years.
A) The stock records of the company are under the custody of a
statutory authority for certain verification and hence quantitative
details could not be compiled.