1. Pursuant to the provisions of companies (Appointment and Remuneration
of Managerial Personnel) Rules, 2014, the Company does not have any
employee, who was in receipt of remuneration for the year under
consideration exceeding sixty lakh rupees the information of which could
form part of the Director's Report for the year ended 31 * March 2015.
2. Amounts payable to Sundry Creditors, Creditors for Capital Goods and
Deposits are subject to confirmation with the respective parties.
3. Segment Reporting:
The segment reporting as per the Accounting Standard (AS) 17 issued by
the Institute of Chartered Accountants of India is not applicable, as
the company has not carried any commercial activities.
4. Transactions with the Related Parties pursuant to Accounting Standard
18:
i. List of Related Parties :
Subsidiary Company : NIL
Associate Companies / Firms
(including Companies / firms
Controlled by key management
Personnel / relatives who are sub-
stantially interested) : Potis Power Projects Ltd.
Key Management Personnel : Shri. O.Krishna Reddy
Managing Director
5. Previous year figures have been regrouped wherever if thought
necessary in conformity with the current year groupings. Raise have
been rounded off to the nearest rupee.
6. The company has not received information for vendor regarding their
status under the Micro, Small and Medium Enterprises Development Act,
2006 and hence disclosure relating to amount unpaid as at the year end
together with interest paid / payable under this act have not been
given.
7. The company has neither recognized deferred tax liability nor
deferred tax asset in compliance with the Accounting Standard - AS-22
relating to "Accounting for taxes on income" issued by the Institute of
Chartered Accountants of India due to uncertainty in tiie future taxable
income.
Notes to the financial statements, Cash Flow statement and statement on
accounting policies form an integral part of the balance sheet and
statement of profit and loss.
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