| 1. Contingent Liabilities not provided for in respect of:
Current Previous
Year Year
(Rs.) (Rs.)
(a) Claim from statutory bodies under
aopoeal 4,60,000 32,62,440
(b) Claims against the company not
acknowledged as debts 28,49,010 28,49,010
2. As per information available with the Company, none of the
creditors has confirmed that they are registered under the Micro, Small
and Medium Enterprises Development Act 2006.
3. 4. No provision has been made in the accounts in respect of the
following liabilities as the company continues to account for the same
as and when paid:-
(a) (a) Accrued liability towards gratuity amounting to Rs.
1,83,74,026/= (previous year Rs. 1,78,89,050/=) estimated on the basis
of actuarial valuation.
(b) (b) Accrued liability towards leave encashment amounting to Rs.
45,55,960/=
(previous year Rs. 42,58,394/=).
4 The outstanding balances of secured loans, unsecured loans, sundry
creditors, current liabilities, sundry debtors, loans and advances and
certain bank balances are subject to confirmation, reconciliation and
adjustments, which may affect revenue are as per books of accounts only.
Differences, if any, shall be accounted for on such reconciliation.
5 In the opinion of the management, the current assets loan and
advances are expected to realize at least the amount at which they are
stated, if realized in the ordinary course of business and provision
for all known liabilities have been adequately made in the accounts.
6 Factory Land, Building, Plant & Machinery and Electric fittings were
revalued on 31-3-1999 by an approved valuer. As a result, the gross
value of such assets had increased by Rs. 10,25,35,068/= which had been
credited to revaluation reserve and same has been utilised to set off
debit balance in Profit and Loss Account in the year March, 2002 on the
basis of legal opinion obtained by the company.
7 The company's accounts for the year ended 31st March, 2011 have
been prepared on the basis of a "going concern".
8 Profit and Loss account includes Rs.7,20,000/= ( Previous year Rs.
7,20,000/=) paid during the year to whole time director as
remuneration.
9 The Company does not have Company Secretary as on the date of
Balance Sheet as required by the section 383 A of the Company's Act
1956.
10 The company is a single segment company engaged in manufacture of
Beer. Accordingly, the disclosure requirement as prescribed in The
Accounting Standard (AS)-17 on Segment Reporting issued by the
Institute of Chartered Accountants of India is not applicable.
11. In the absence of registration and complete information in respect
of status of each credotors, the company is not in a position to
identify the amount payable to Micro, Small and Ancillary Enterprises.
12 The figures of previous year have been regrouped and recasted
wherever necessary to make them comparable with current year figures
Previous year's figures have been rearranged and/or regrouped
wherever considered necessary. As per our report of even date annexed
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