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You can view the entire text of Notes to accounts of the company for the latest year

BSE: 517548ISIN: INE035C01022INDUSTRY: Electric Equipment - General

BSE   ` 2.27   Open: 2.18   Today's Range 2.08
2.28
+0.09 (+ 3.96 %) Prev Close: 2.18 52 Week Range 1.95
3.39
Year End :2018-03 

Notes -

1. Property, Plant & Equipment given on lease - Nil

2. Assets retired from active use & held for disposal - Nil

3. Assets acquired through business combinations - Nil

4. Increases or decreases resulting from revaluations and from impairment losses recognized or reversed directly in revaluation surplus - Nil

5. Impairment loss recognized in the statement of Profit & Loss - Nil 6.Impairment loss reversed in the statement of Profit & Loss - Nil

7. Net exchange differences arising on the translation of the financial statements of a non-integral foreign operation in accordance with Ind AS 21 - Nil

8. The Term Loan from ICICI Bank Limited (Car Loan A/c No. 20956) has been obtained against Hypothecation of 1 Vehicle. The amount outstanding is Rs. 1,96,204/- as on 31/03/2018 ; Rs. 5,24,884/- as on 31/03/2017 and Rs. 8,35,227/- as on 01/04/2016.

9. The Term Loan form ICICI Bank Limited (Car Loan A/c No. 22954) has been obtained against Hypothecation of 1 vehicle. The amount outstanding is Rs. 11,52,054/- as on 31/03/2018; Rs. 18,70,530/- as on 31/03/2017 and Rs. 25,19,240/- as on 01/04/2016 .

10. The Term Loan from HDFC Bank Limited has been obtained against Hypothecation of 1 Vehicle. The amount outstanding is Rs. 9,77,520/- as on 31/03/2018; R s 14,09,540.58/- as on 31/03/2017; Rs. 18,32,797/- as on 01/04/2016.

11 .The amount of expenditure recognized in the carrying amount of an item of Property, Plant & Equipment in the course of its construction during the current financial year - Nil

12.The amount of contractual commitments for the acquisition of Property, Plant & Equipment - Nil

13. The amount of compensation from third parties for items of Property, Plant & Equipment that were impaired, lost or given up that is included in the statement of profit and loss - Nil

14. Spare Parts capitalized from Inventory of the company - Nil

Notes -

1. Impairment losses recognized in the statement of Profit & Loss during the period - Nil

2. Impairment losses reversed in the statement of Profit & Loss during the period - Nil

3. There are no significant restrictions on the right of ownership of any intangible assets.

4. Amount of commitment for acquiring intangible assets - Nil

5. Aggregate amount of R&D expenditure recognized as expenditure during the period - Nil

6. Life of asset -10 years

Guarantees

Contingent liabilities related to Guarantees amounting to Rs. 15,20,556/- are outstanding bank guarantees as on 31st March 2018. Bank Gurantees are given as per the tender terms to Karnataka Renewable Energy Development Limited(KREDL), National Aluminum Co. Ltd. (NALCO)and Ashoka Buildcon.

There is uncertainly of outflow because the Company has filed appeals with Sales Tax Tribunal against these orders and the said appeals are pending as on 31st March 2018.

Possibility of reimbursement - Nil Interest on Sales Tax payable

Contingent liabilities related to income tax demand amounting to Rs. 64,44,154/-as on 31st March 2018 is outstanding for AY 2004-05 against order of income Tax Department.

There is uncertainly of outflow because the Company has filed appeal with Mumbai High Court against this order and the said appeal is pending as on 31st March 2018.

Possibility of reimbursement - Nil

Income Tax Demand Payable

Contingent liabilities related to income tax demand amounting to Rs. 64,44,154/-as on 31st March 2018 is outstanding for AY 2004-05 against order of income Tax Department.

There is uncertainly of outflow because the Company has filed appeal with Mumbai High Court against this order and the said appeal is pending as on 31st March 2018.

Possibility of reimbursement - Nil

Non Receipt ofC-Form Liability

Contingent liabilities related to C forms amounting to Rs.31,84,835 is due to non-receipt of C forms from customers. This amount is the basic amount and is at the balance sheet date.

The above liability is uncertain relating to its outflow as it depends on receipt of C forms from customers till the date of assessment.

Also there is possibility of interest liability on non-receipt of C form which needs to be paid at the time of assessment.

Note 49: Dividends

No Dividend has been declared / proposed by the Board of Directors.