| Increase in Remuneration to Managing Director amounting to Rs. 11640 is subject to approval of the Company.
Computation of profit U/S 349 and 350 of the Companies Act not made as the managing director is paid minimum remuneration.
No Provision for taxation has been made as there are no assessable profits.
Letters of confirmation of balances for sundry Debtors, Sundry
Creditors and Advances, have not been obtained.
APSEB sanctioned power subsidy to the Company up to a maximum of Rs. 50 lacs, of which Company has availed upto 30.9.96 Rs. 10,15,303/-. APSEB is entitled to claim the refund of the Power Subsidy availed by the Company at any time.
Investment subsidy sanctioned by Andhra Pradesh State Government to the company upto a maximum of Rs.15 lacs of which company has received upto 30.09.96 Rs.8,75,000/- Andhra Pradesh State Govt. is entitled to claim the refund of Investment sudsidy availed by the Company at any time within 5 years as stipulated in the sanction letter.
Previous year figures are regrouped whereever necessary. Previous year figures in Profit and Loss account are not comparable with the current year figures as the current year is for 12 months as against 15 months for the previous year.
Additional Information pursuant to the paragraphs 3 and 4 of part II of Schedule VI to the Companies Act, 1956.
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