| 1. Refund Claims for CENVAT credit which has been rejected have been
debited to CENVAT Credit Receivable which will be adjusted against
future liabilities amounting to Rs. 472929/- (previous year Rs.
396309/-). Service tax Refund claim pending in appeal amounting to Rs.
485669/-(previous year Rs. 485669/-)
2. In the absence of necessary information relating to the suppliers
registered as Micro, Small and Medium enterprises under the Micro,
Small and Medium Enterprises(Development) Act, 2006, the Company has
not been able to identify such suppliers and the information required
under the said Act could not be compiled and disclosed.
3. The details of the company's post-retirement benefit plans for
gratuity for its employees determined as per actuarial valuation by
Life Insurance Corporation of India are given below :
4. Since fair value of plan assets is more than the present value of
obligations no liability/assets or profit/loss has been recoganised in
the Balance Sheet and Statement of Profit and Loss.
a. Premium paid for the year amounting to Rs. 246467/- (Previous year
Rs. 219175/-) has been debited to the Profit & Loss Account under
Payments to & for employees.
b. The Plan assets of the company are managed by Life Insurance
Corporation of India and the composition of investments relating to
these assets is not available with company.
5. The company does not have more than one reportable segment in terms
of Accounting Standard 17 "Segment Reporting".
6. Balances of Sundry Creditors, Sundry Debtors, Advances & dues
against term loan are subject to confirmation.
7. Related party disclosure as per AS-18
As required by Accounting Standard AS-18 "Related Parties Disclosure"
issued by "The Institute of Chartered Accountants of India" are as
follows :-
8. As required by Accounting Standard AS-22 on accounting for Taxes on
Income, no deferred tax liability / asset has been computed because
there is no reasonable certainty that sufficient future taxable profits
will be available.
9. There is no impairment loss on any assets in terms of AS-28 issued
by the Institute of Chartered Accountants of India.
10. Previous period figures have been regrouped/rearranged, wherever
considered necessary, to confirm to the current year classification.
|