అకౌంట్స్ గమనికలుNEPC Textiles Ltd.

Sep 30, 2013

1. The liability to Small Scale Industries for supplies & services as on 30-Sep-13 is 'NIL' on the basis of the information available with the Company.

2. Deferred tax asset as on 30-Sep-13, has not been recognized since there is no reasonable certainty of sufficient taxable income being available against which such deferred tax asset can be realised.

3. As per the Management representation, there is no impairment of fixed assests during the period.

4. Segment Reporting:

The Operations of the Company are in essence concentrated in a particular geographical area and in a particular product / service only hence Segment reporting as prescribed by the Accounting Standard 17 on Segmental Reporting by The Institute of Chartered Accountants of India is not applicable.

5. Contingent Liabilities

a) Estimated amount of contracts remaining to be executed and not provided for: Nil (Previous Year - Nil)

b) On account of delayed / non-compliance of various fiscal statues - Amount Unascertainable.

c) Claims against the company not acknowledged as debts: Nil. (Previous year Rs. Nil).

6 (i) The Company is facing labour unrest w.e.f 02-04-2008, reference to notice dated 02-04-2008 issued by Mangement in this regard.

(ii) Wages provision has been made, as informed by the Mangement, since the Mangement is in the process of negotiating and settlement of wages with the labours. Due to non-availability in respect of statutory records and other records like PF, ESI, etc., the amount due/penalty/intrest etc., could not be ascertained.

7. The Balances appearing under loans and advances, sundry debtors, sundry creditors other current liabilities and Deposits and inter-company balances are subject to confirmations and reconciliations with consequent adjustments if any; the impact thereof of reduction / increase in the assets / liabilites consequent to the completion of reconciliation by the management.

7. In the opinion of the Management, the Current assets and loans and advances are approximately of the value as stated, if realised in the ordinary course of business and adequate provisions for all known liabilities have been made in the accounts except otherwise stated elsewhere in other notes.

8. The company has not made any provision in the books towards the liability for the gratuity and retirement benefits to the employees thugh prescribed in accounting standard 15 issued by the Institute of Chartered Accountants of India, as a consequence of which the loss for the year and the corresponding liability has been understated Amount un-ascertainable.

9. Delay/Non-Remittance of Provident Fund and Employees State Insurance Corporation:- The company has filed a suit in the Court for the adjustment of excess Provident Fund paid in earlier years in group companies towards dues for the subsequent years of the company. The Company has got a favorable order for adjustment of group Companies excess payments towards the dues.

10. a). Financial year: 12 months from 1st Oct 2012 to 30th Sep 2013.

b) Previous year figures have been re-grouped / re-arranged wherever necessary.

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Sep 30, 2012

1. Continoent Liabilities

a) Estimated amount of contracts remaining to be executed and not provided for: Nil (Previous Year -Nil).

b) On account of delayed / non-compliance of various fiscal statues - Amount Unascertainable.

c) Claims against the company not acknowledged as debts: Nil. (Previous year Rs. Nil).

2 (i) The Company is facing labour unrest w.e.f 02-04-2008, reference to notice dated 02-04-2008 issued by Mangement in this regard.

(ii) Wages provision has been made, as informed by the Mangement, since the Mangement is in the process of negotiating and settlement of wages with the labours. Due to non-availability in respect of statutory records and other records like PF, ESI, etc., the amount due/penalty/intrest etc., could not be ascertained.

3. The Balances appearing under loans and advances, sundry debtors, sundry creditors other current liabilities and Deposits and inter-company balances are subject to confirmations and reconciliations with consequent adjustments if any; the impact thereof of reduction / increase in the assets / liabilites consequent to the completion of reconciliation by the management.

4. In the opionion of the Management, the Current assets and loans and advances are approximately of the value as stated, if realised in the ordinary course of business and adequate provisions for all known liabilities have been made in the accounts except otherwise stated elsewhere in other notes.

5. The company has not made any provision in the books towards the liability for the gratuity and retirement benefits to the employees thugh prescribed in accounting standard 15 issued by the Institute of Chartered Accountants of India, as a consequence of which the loss for the year and the corresponding liability has been understated Amount un-ascertainable.

6. Delay/Non-Remittance of Provident Fund and Employees State Insurance Corporation:- The company has filed a suit in the Court for the adjustment of excess Provident Fund paid in earlier years in group companies towards dues for the subsequent years of the company. The Company has got a favorable order for adjustment of group Companies excess payments towards the dues.

7. a). Financial year: 12 months from 1st Oct 2011 to 30th Sep 2012.

b) Previous year figures have been re-grouped / re-arranged wherever necessary.

8. The liability to Small Scale Industries for supplies & services as on 30-Sep-12 is ''NIL'' on the basis of the information available with the Company.

9. Deferred tax asset as on 30-Sep-12, has not been recognized since there is no reasonable certainty of sufficient taxable income being available against which such deferred tax asset can be realised.

10. As per the Management representation, there is no impairment of fixed assests during the period.

11. Segment Reporting:

The Operations of the Company are in essence concentrated in a particular geographical area and in a particular product / service only hence Segment reporting as prescribed by the Accounting Standard 17 on Segmental Reporting by The Institute of Chartered Accountants of India is not applicable.

12. Basic & Diluted Earning Per Share:

The Company reports basic & Diluted earning per share (EPS) in accordance with the provisions of Accounting Standard 20 on Earning Per Share issued by The Institute of Chartered Accountants of India. The basic EPS has been computed by dividing the income available to equity shasreholders by the weighted-average number of equity shares outstanding during the accounting period.

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Sep 30, 2011

1. Contingent Liabilities

a) Estimated amount of contracts remaining to be executed and not provided for: Rs Nil (Previous Year - Nil).

b) On account of delayed / non-compliance of various fiscal statues - Amount Unascertainable.

c) Claims against the company not acknowledged as debts: Nil. (Previous year Rs. Nil).

2 (i) The Company is facing labour unrest w.e.f 02-04-2008, reference to notice dated 02-04-2008 issued by Mangement in this regard.

(ii) Wages provision has been made, as informed by the Management, since the Mangement is in the process of negotiating and settlement of wages with the labours. Due to non-availability in respect of statutory records and other records like PF, ESI, etc., the amount due/penalty/intrest etc., could not be ascertained.

(iii) Reduction of Share Capital and Securities Premium Account: The Company's paid up share capital is reduced from Rs 19,22,82,380 divided into 1,92,28,238 equity shares of Rs 10/- each to Rs. 14,93,90,380 divided into 1,49,39,038 equity shares of Rs 10/- each.

An amount of Rs. 17,52,09,000 lying credit in the share premium account has been reduced as per the special resolution passed at the AGM of the company on 17-08-2007 and also as per the approval accorded by the Hon'ble High Court, Madras, vide its order dated 04-08-2008.

Further, certification of Registration of Order of the Hon'ble High Court, Madras confirming the , reduction of share capital and share premium account issued by ROC, Tamilnadu, Coimbatore on 09-09-2008.

Pursuant to the Order of the High Court and the Scheme of Reduction of Share Capital as approved by the members of this Company at its 14th Annual General Meeting held on 17-08-2007, the accumulated losses of the company as at 01-04-2007 (B/F) are ordered to be set off as follows:-

Accumulated losses to be set off ............. Rs 21,81,01,000

Against Share Premium A/c ............. Rs 17,52,09,000

Against Paid up Share Capital A/c ............. Rs 4,28,92,000

Further, as approved by the High Court of Madras, that the words "And Reduced" pursuant to the reduction has been dispensed with.

Further, the procedure regarding reduction (ie., making necessary endorsements on the share certificates etc.,) of paid-up share capital has to be complied with. However, based on the court order and fling of ROC., the share Capital and share premium account have been reducted and given effect in the balance sheet.

3. The Balances appearing under loans and advances, sundry debtors, sundry creditors other current liabilities and Deposits and inter-company balances are subject to confirmations and reconciliations with consequent adjustments if any; the impact thereof of reduction / increase in the assets / liabilites consequent to the completion of reconciliation by the management.

4. In the opinion of the Management, the Current assets and loans and advances are approximately of the value as stated, if realised in the ordinary course of business and adequate provisions for all known liabilities have been made in the accounts except otherwise stated elsewhere in other notes.

5. The company has not made any provision in the books towards the liability for the gratuity and retirement benefits to the employees thugh prescribed in accounting standard 15 issued by the Institute of Chartered Accountants of India, as a consequence of which the loss for the year and the corresponding liability has been understated Amount un-ascertainable.

6. Delay/Non-Remittance of Provident Fund and Employees State Insurance Corporation:- The company has filed a suit in the Court for the adjustment of excess Provident Fund paid in earlier years in group companies towards dues for the subsequent years of the company. The Company has got a favorable order for adjustment of group Companies excess payments towards the dues. -

7. a). Financial year: 12 months from 1st Oct 2010 to 30th Sep 2011.

b) Previous year figures have been re-grouped / re-arranged wherever necessary.

8. The liability to Small Scale Industries for supplies & services as on 30-Sep-11 is 'NIL' on the basis of the information available with the Company.

9. Deferred tax asset as on 30-Sep-11, has not been recognized since there is no reasonable certainty of sufficient taxable income being available against which such deferred tax asset can be realised.

10. As per the Management representation, there is no impairment of fixed assests during the period.

11. Segment Reporting:

The Operations of the Company are in essence concentrated in a particular geographical area and in a particular product / service only hence Segment reporting as prescribed by the Accounting Standard 17 on Segmental Reporting by The Institute of Chartered Accountants of India is not applicable.

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Sep 30, 2010

1. Contingent Liabilities

a) Estimated amount of contracts remaining to be executed and not provided for: Rs. Nil (Previous Year - Nil).

b) On account of delayed / non-compliance of various fiscal statues - Amount Unascertalnable.

c) Claims against the company not acknowledged as debts: NIL (Previous year Rs. Nil).

2 (i) The Company Is facing labour unrest w.e.f 02-04-2008, reference to notice dated 02-04-2008 Issued by Mangement in this regard.

(ii) Wages provision has been made, as informed by the Mangement, since the Mangement is in the process of negotiating and settlement of wages with the labours. Due to non-availability in respect of statutory records and other records like PF, ESI, etc., the amount due/penalty/interest etc., could not be ascertained.

(iii) Reduction of Share Capital and Securities Premium Account: The Company's paid up share capital is reduced from Rs. 19,22,82,380 divided into 1,92,28,238 equity shares of Rs. 10/- each to Rs. 14,93,90,380 divided Into 1,49,39,038 equity shares of Rs. 10/- each.

An amount of Rs. 17,52,09,000 lying credit in the share premium account has been reduced as per the special resolution passed at the AGM of the company on 17-08-2007 and also as per the approval accorded by the Hon'ble High Court, Madras, vide its order dated 04-08-2008.

Further, certification of Registration of Order of the Hon'ble High Court, Madras confirming the reduction of share capital and share premium account issued by ROC, Tamilnadu, Coimbatore on 09-09-2008.

Pursuant to the Order of the High Court and the Scheme of Reduction of Share Capital as approved by the members of this Company at its 14th Annual General Meeting held on 17-08-2007, the accumulated losses of the company as at 01-04-2007 (B/F) are ordered to be set off as follows:-

Accumulated losses to be set off Rs. 21,81,01,000

Against Share Premium A/c Rs. 17,52,09,000

Against Paid up Share Capital A/c Rs. 4,28,92,000

Further, as approved by the High Court of Madras, that the words"And Reduced' pursuant to the reduction has been dispensed with.

Further, the procedure regarding reduction (ie., making necessary endorsements on the share certificates etc.,) of paid-up share capital has to be complied with. However, based on the court order and fling of ROC., the share Capital and share premium account have been reducted and given effect in the balance sheet.

3. The Balances appearing under loans and advances, sundry debtors, sundry creditors other current liabilities and Deposits and inter-company balances are subject to confirmations and reconciliations with consequent adjustments if any; the impact thereof of reduction / increase in the assets / liabilites consequent to the completion of reconciliation by the management.

4. In the opinion of the Management, the Current assets and loans and advances are approximately of the value as stated, if realised in the ordinary course of business and adequate provisions for all known liabilities have been made in the accounts except otherwise stated elsewhere In other notes.

5. The company has not made any provision In the books towards the liability for the gratuity and retirement benefits to the employees thugh prescribed in accounting standard 15 issued by the Institute of Chartered Accountants of India, as a consequence of which the loss for the year and the corresponding liability has been understated Amount un-ascertainable.

6. Delay/Non-Remittance of Provident Fund and Employees State Insurance Corporation:- The company has filed a suit in the Court for the adjustment of excess Provident Fund paid In earlier years in group companies towards dues for the subsequent years of the company. The Company has got a favorable order for adjustment of group Companies excess payments towards the dues.

7. a). Financial year: 12 months from 1st Oct 2009 to 30th Sep 2010.

b) Previous year figures have been re-grouped / re-arranged wherever necessary.

8. The liability to Small Scale Industries for supplies & services as on 30-Sep-10 is 'NIL' on the basis of the information available with the Company.

9. Deferred tax asset as on 30-Sep-10, has not been recognized since there is no reasonable certainty of sufficient taxable income being available against which such deferred tax asset can be realised.

10. As per the Management representation, there is no impairment of fixed assests during the period.

11. Segment Reporting:

The Operations of the Company are in essence concentrated in a particular geographical area and In a particular product / service only hence Segment reporting as prescribed by the Accounting Standard 17 on Segmental Reporting by The Institute of Chartered Accountants of India is not applicable.

12. Basic & Diluted Earing Par Share:

The Company reports basic & Diluted earning per share (EPS) in accordance with the provisions Of Accounting Standard 20 on Earning Per Share issued by The Institute of Chartered Accountants of India. The basic EPS has been computed by dividing the income available to equity shareholders by the weighted-average number of equity shares outstanding during the accounting period.

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Sep 30, 2009

1. Contingent Liabilities

a) Estimated amount of contracts remaining to be executed and not provided for: Rs.Nil (Previous Year - Nil).

b) On account of delayed / non-compliance of various fiscal statues - Amount Unascertainable.

c) Claims against the company not acknowledged as debts: Nil. (Previous year Rs. Nil).

2 (i) The Company is facing unrest w.e.f 02-04-2008, reference to notice dated 02-04-2008 issued by Management in this regard.

(ii) Wages provision has been made, as informed by the Management, since the Management is in the process of negotiating and settlement of wages with the labours. Due to non-availability in respect of statutory records and other records like PF, ESI. etc., the amount due/penalty/interest etc., could not be ascertained.

(iii) Reduction of Share Capital and Securities Premium Account: The Company's paid up share capital is reduced from Rs.19,22,82,380 divided into 1,92,28,238 equity shares of Rs.10/- each to Rs. 14.93.90.380 divided into 1,49.39,038 equity shares of Rs.10/- each.

An amount of Rs. 17,52,09,000 lying credit in the share premium account has been reduced as per the special resolution passed at the AGM of the company on 17-08-2007 and also as per the approval accorded by the Hon'ble High Court, Madras, vide its order dated 04-08-2008.

Further, certification of Registration of Order of the Hon'ble High Court, Madras confirming the" reduction of share capital and share premium account issued by ROC, Tamilnadu, Coimbatore on 09-09-2008.

Pursuant to the Order of the High Court and the Scheme of Reduction of Share Capital as approved by the members of this Company at its 14th Annual General Meeting held on 17-08-2007, the accumulated losses of the company as at 01-04-2007 (B/F) are ordered to be set off as follows:-

Further, as approved by the High Court of Madras, that the words" And Reduced" pursuant to the reduction has been dispensed with.

Further, the procedure regarding reduction (ie., making necessary endorsements on the share certificates etc.,) of paid-up share capital has to be complied with. However, based on the court order and fling of ROC, the share Capital and share premium account have been reduced and given effect in the balance sheet.

3. The Balances appearing under loans and advances, sundry debtors, sundry creditors other current liabilities and Deposits and inter-company balances are subject to confirmations and reconciliations with consequent adjustments if any; the impact thereof of reduction / increase in the assets / liabilities consequent to the completion of reconciliation by the management.

4. In the opinion of the Management, the Current assets and loans and advances are approximately - of the value as stated, if realised in the ordinary course of business and adequate provisions for all known liabilities have been made in the accounts except otherwise stated elsewhere in other notes.

5 The company has not made any provision in the books towards the liability for the gratuity and retirement benefits to the employees though prescribed in accounting standard 15 issued by the Institute of Chartered Accountants of India, as a consequence of which the loss for the year and the corresponding liability has been understated Amount un-ascertainable.

6. Delay/Non-Remittance of Provident Fund and Employees State Insurance Corporation:- The company has filed a suit in the Court for the adjustment of excess Provident Fund paid in earlier years in group companies towards dues for the subsequent years of the company. The Company has got a favorable order for adjustment of group Companies excess payments towards the dues.

7 a). As per management, the accounting the period is changed to 1st Oct to 30th Sep and the current period represents 12 months ended 30-Sep-2009, while previous year represents 18 months ended 30-September-2008. Hence, the previous year figures are not strictly comparable.

b) Previous year figures have been re-grouped / rearranged wherever necessary.

8. The liability to Small Scale Industries for supplies & services as on 30-Sep-09 is 'NIL' on the basis of the information available with the Company.

9. Related Party Disclosures (as identified by the management)

b. NEPC Agra Foods Limited *4.13 'Subject to reconciliation and confirmation by the management.

10. Deferred tax asset as on 30-Sep-09, has not been recognized since there is no reasonable certainty of sufficient taxable income being available against which such deferred tax asset can be realised.

11. As per the Management representation, there is no impairment of fixed assets during the period.

12. Segment Reporting:

The Operations of the Company are in essence concentrated in a particular geographical area and in a particular product / service only hence Segment reporting as prescribed by the Accounting Standard 17 on Segmental Reporting by The Institute of Chartered Accountants of India is not applicable.

13. Basic & Diluted Earrings Per Share:

The Company reports basic & Diluted earning per share (EPS) in accordance with the provisions of Accounting Standard 20 on Earning Per Share issued by The Institute of Chartered Accountants of India. The basic EPS has been computed by dividing the income available to equity shareholders by the weighted-average number of equity shares outstanding during the accounting period.

14. Previous Year's figures have been regrouped / rearranged / reclassified wherever considered necessary.

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Sep 30, 2008

1. Contingent Liabilities

a) Estimated amount of contracts remaining to be executed and not provided for: Rs.Nil (Previous Year - Nil).

b) On account of delayed / non-compliance of various fiscal statues - Amount Unascertainable.

c) Claims against the company not acknowledged as debts: Nil. (Previous year Rs.Nil).

d) Dues claimed by the Income Tax Authorities against the Company, not acknowledged Debts: Amount Unascertainable.

2(i) The Textile Mill is facing labour unrest, with effect from 02-04-2008 which Is being addressed by the Company.

(ii) Reduction of Share Capital and Securities Premium Account: The Company's paid up share capital is reduced from Rs.19,22,82,380 divided into 1,92,28,238 equity shares of Rs.10/- each to Rs. 14,93,90,380 divided into 1,49,39,038 equity shares of Rs.10/- each.

An amount of Rs.17,52.09.000 lying credit in the Share premium Account has been reduced as per the special resolution passed at the AGM of the Company on 17-08-2007 and also as per the approval accorded by the Hon'ble high court, Madras, vide its order dated 04-08-2008.

Further, certification of Registration of order of the Hon'ble High Court. Madras confirming the Reduction of Share Capital and Share premium account issued by ROC, Tamilnadu, Coimbatore on 09-09-2008.

Pursuant to the Order of the High Court and the Scheme of Reduction of Share Capital as approved by the members of this Company at its 14th Annual General Meeting held on 17-08-2007, the accumulated losses of the company as at 01-04-2007 (B/F) are ordered to be set off as follows:-

Further, as approved by the High Court of Madras, addition of the words' And Reduced" to the Company's name pursuant to the reduction has been dispensed with.

3. The Balances appearing under loans and advances, sundry debtors, sundry creditors other current liabilities and Deposits and inter-company balances are subject to confirmations and reconciliations with consequent adjustments if any; the Impact thereof of reduction / increase in the assets / liabilities consequent to the completion of reconciliation by the management

4. In the opinion of the Management the Current assets and loans and advances are approximately of the value as stated, if realised in the ordinary course of business and adequate provisions for all known liabilities have been made in the accounts except otherwise stated elsewhere in other notes.

5. Delay/Non-Remittance of Provident Fund and Employees State. insurance Corporation:- The company . has filed a suit in the Court for the adjustment of excess Provident Fund paid in earlier years in group companies towards dues for the subsequent years of the company. The Company has got a favorable order for adjustment of group Companies excess payments towards the dues.

6. a) Current Period represents 18 months ended 30-Sep-2008, while previous year represents 8 months ended 31-March-2007. Hence, the previous year figures are not strictly comparable.

b) Previous year figures have been re-grouped / re-arranged wherever necessary.

7. The liability to Small Scale Industries for supplies & services as on 30-Sep-08 is 'NIL' on the basis of the information available with the Company.

8. Related party Disclosures (subject to reconciliation and confirmation by the management)

9. Deferred tax asset as on 30-Sep-08, has not been recognized since there Is no reasonable certainty of sufficient taxable Income being available against which such deferred tax asset can be realised. I

10. Segment Reporting:

The Operations of the Company are in essence concentrated In a particular geographical area and in a particular product / service only hence Segment reporting as prescribed by the Accounting Standard 17 on Segmental Reporting by The Institute of Chartered Accountants of India is not applicable.

11. Basic & Diluted Earning Per Share:

The Company reports basic & Diluted earning per share (EPS) in accordance with the provisions of Accounting Standard 20 on Earning Per Share issued by The Institute of Chartered Accountants of India. The basic EPS has been computed by dividing tire income available to equity shareholders by the weighted-average number of equity shares outstanding during the accounting period.