| a. The Fixed Assets of the Company at Plot No. 1, Gat No. 506, Village
Gonde Dumale, Taluka : Igatpuri, District Nasik namely Land, Building,
Plant & Machinery and Electrical Installation were taken over by
Maharashtra State Financial Corporation pursuant to their letter dated
18th November, 1998 in accordance with the provisions of Section 29 of
the State Financial Corporations Act, 1951 and as such the Company
ceased to be the owner of the said assets. The Company however, has not
written of these assets in the books of accounts during the year under
audit amounting to Rs. 52,35,8487- comprising the following Assets :-
Building 37,51,91
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Electrical Installation 3,56,421
Plant & Machinery 3,55,014
Land & Site Development 7,72,496
52,35,848
As against the above fixed assets the secured loan from Maharashtra
State Financial Corporation outstanding as on 31st March, 2010 as per
Balance Sheet amount to Rs. 1,03,76,3287-. The amount payable to
Maharashtra State Financia Corporation after adjusting the value of
Fixed Assets namely land, Building, Plant & machinery, Electrical
Installation, Furniture & Fixture and Office Equipment is not
ascertainable in the absence of relevant data.
b. The Company has invested money in Share application pending
allotment amounting to Rs. 57,76,820/- without any yield.
c. Due to loss incurred during the year there will not be any
assessable income for the period and hence provision for the taxation
is not provided for.
d. There were no dues to Small Scale Industrial Units.
e. There were no earnings in foreign currency or expenditure in
foreign currency in respect of acquisition of Fixed Assets, stores or
raw materials.
f. During the year, there has been no employee entitled for a
remuneration of Rs. 2,00,000/- or more per month or Rs. 24,00,000/-
per annum.
g. Investments have been valued at cost and provision has not been
made in the books for the depreciation in value of investments.
i. Additional information pursuant to the provisions of paras 3, 4C
and 4D of part II of Schedule VI of the Companies Act, 1956. (As
certified by the Directors)
A. Licensed Capacity N. A.
B. Installed Capacity
i) Aluminium Hydroxide Gel
Paste and Powder 900 M. T.
ii) Almond Oil 100 M.T.
iii) Sodium Chloride 400 M. T.
iv) Sodium Sulphate 450 M. T.
j. No provision for gratuity has been made since no employee has put
in qualifying period of service.
k. The Company has not provided for electricity charges and interest
received on MSEB Deposit.
l. Other information required under Schedule VI Part - II are either
NIL or not applicable to the Company.
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