1 Interest on dues of Oriental Bank of Commerce , Punjab National Bank
and PSIDC have not been provoded as negociated settlements are
underway.
Jun 30, 2010
(1) CONTINGENT LIABILITY NOT PROVIDED FOR
In respect of Current Year Previous Year
2009-10 2008-09
(RS.) i. Excise Duty 5.53 Lacs 5.53 Lacs
ii. Custom Duty 17.65 Lacs 17.65 Lacs
iii. Punjab State Electricity Board 25.00 Lacs 25.00 Lacs
(2) During the year the Company has repaid entire working capital loan
obtained from State Bank of Patiala and State Bank of Indore under
negotiated settlement reached with them. The relief and concessions
received under the above negotiated settlements on account of interest
and principal has been adjusted from accrued interest/other liabilities
and from the working capital loan respectively.
(3) During the year the Company has repaid all Fixed Deposited along
with interest under negotiated settlement.
(4) In the opinion of the Board, some of the current assets i.e. sundry
debtors and loans and advances have a value on relisation in the
ordinary course of business, subject to normal business risks. Further
balance of certain sundry debtors, sundry creditors and loans and
advances are subject to confirmation.
(5) Deferred Tax liability
No provision for deffered tax is being made because losses are very
mush high & as per A-22, under such circumstances no provision to be
made.
(6) The provisions of AS-18 Related party disclosure are applicable to
the Company only to the extent of Directors remuneration paid to
Directors.
(7) The Company is engaged in manufacture of Wire Drawing s Ferro
Cement products and other are no separate segments as per As-17
"segment reporting" issued by ICAI.
(8) Figures are rounded off to the nearest rupee.
(9) Previous Period figures have been re-grouped / re-classified/
re-arranged/ re-casted , wherever necessary.
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