| 1. Contingent Liability : Nil
2. No provision for sales tax payable amounting to Rs. 3173176/- and
interest thereon has been made in the accounts as the same is accounted
for on cash basis. (Previous year Rs. 4152240/-)
3. Gratuity payable to employees is covered under the Group Gratuity
Scheme of the Life Insurance Corporation of India.
4. Amount of refund payable to unsuccessful applicants of public issue
is subject to reconcilliation.
5. The Secured Loans from Bank of Baroda are secured by Hypothecation
of Stock of Raw materials, Work in Process, Finished goods, Store &
Spares, packing materials and Book debts. All the working capital
facilities and demand loans are further secured by extension of charge
over fixed assets of the company and also further secured by personal
guarantee of the Chairman and Managing Director and Executive Director
besides |their other family members. Vehical loans are secured by
hypothecation of specific vehicles to the finance Companies from whom
the loans against the vehical has been availed,
6. Market value of quoted investments is Rs. 161905/- (Previous year
Rs. 158745/-) The value of the equity shares for which no published
price is available has been valued at Re.1/-. No provison has been made
for the decrease in the market value over the cost of investments.
7. No Provison has been made for doubtful debts of Rs.9584753/-
(Previous year Rs.9808417/-).
8. Exchange rate difference of Rs. 30746/- on account of exchange rate
fluctuations for import of goods have been debited to the profit & loss
account. While Rs.9088/- being the difference on account of the closing
rate for the amount payable on the import of goods has not been
provided for in the books as per the requirement of AS 11 of the
Institute of Chartered Accountants of India.
9. In view of, previous years carried forward losses no provison for
the tax has been made in the accounts
10. In the Opinion of the Board of Directors, the Current Assets, Loans
and Advances are approximately of the value stated in the Balance
Sheet, and realisable in the ordinary course of the business.
11. The Balances of Debtors, Creditors, Unsecured Loans, Loans and
Advances, branch advances and stock lying with branches/third parties,
Modvat credit account, and Bank balances are subject to reconciliation.
12. Previous years figures have been regrouped where ever necessary to
make them comparable with that of current year.
13. Additional information pursuant to para 4 of part II of schedule VI
of the Companies Act, 1956.
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