| 1. Claims against the Company not acknowledged as debt. Rs. Nil.
(Previous year: Nil.)
2. According to the information and explanations given to us and the
records of the Company examined by us, Status of legal cases has been
given below:
3. Liability for uncalled amount on 6800 partly paid up equity shares
of Punsumi Foils & Components Ltd held as investment amounting to
Rs.34, 000.
4. The liability for the dividend received on shares already sold by
the Company but not transferred in the name of buyers.
5. Market value of quoted investment is Rs. 13,72,783.25 as on
31stMarch 2012. However, the quoted investment is taken in balance
sheet at a cost of Rs 1,15,48,161.60. No provision for diminution of
Rs. 1,01,75,378.35 in the value of the quoted investment has been made
in the accounts as the management is of the opinion that the diminution
in value is of temporary nature and investment is meant to be held for
long term.
6. The details of auditors remuneration is as under :
Statutory Audit Fee Rs. 16545.00
7. Balance of sundry debtors and sundry creditors are subject to
confirmation.
8. The Company had applied to RBI for grant of a certificate of
registration under section 451A of the RBI Act, 1934 on 5th July 1997,
which was rejected by the RBI. The Company has not made any fresh
application to the RBI.
9. The Company has not paid the Listing Fee but provision has been
made for the same in respect of Calcutta Stock Exchange. Trading of the
shares of the company is suspended at Bombay Stock Exchange, Mumbai and
Calcutta Stock Exchange, Kolkata.
10. Provision for Bad Debts of Rs. 43,20,727.83 has been written back
during year. Same had been created against Loans and advances in
earlier year.
11. As per the legal opinion received by the Company, Section 370 and
372 of the Companies Act, 1956 are not applicable to the Company.
12. There was no employees receiving remuneration exceeding the limits
laid down in section 217 (2A) of the Companies Act, 1956.
13. The management has decided to do not create any deferred tax asset
for the current year in view of the uncertainty of profit in near
future.
14. All expenses for which external vouchers were not available proper
internal vouchers were prepared and duly approved by a Director of the
Company.
15. The Company has not received any intimation of allotment of shares
in respect of share application money and as such they have not been
adjusted.
16. Previous year's figures have been re-grouped and/or re-arranged
wherever considered necessary.
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