| 1) The balances in parties' accounts are subject to confirmation and
reconciliation except in some cases. In the opinion of the Management,
the Current Assets, Loans & Advances would realize at least to the
extent stated in the Balance Sheet.
2) The company has initiated the process of obtaining confirmation from
suppliers who have registered themselves under the Micro, Small &
Medium Enterprises Development Act 2006.Based on information and
evidence available with the company, there are no dues to Micro & Small
enterprises outstanding as on 31.03.2014
3) RELATED PARTY DISCLOSURE:
i) Related Parties
a) Mr. Jaswant Munoth - Managing director - Key Management personnel
b) M/s. South India Chemicals & Leasing Private Limited, M/S.Munoth
Financial Services Ltd - Company having common directors
4) Deferred Tax Asset of Rs. 39,55,340/- has been written off in the
current financial year.
5) Depreciation on the Revaluation of the Land and Building has been
transferred to the Revaluation Reserve created on account of the
Revaluation done.
6) Debtors having credit balance have been written back since no
payment is likely to be recovered for the same.
7) The Company has ventured into manufacture of Mobile accessories and
during the year the design and development is under progress. The
Company has identified and allocated costs incurred to undertake the
project and on a proportionate basis have transferred Managerial
Remuneration and other allocable overheads to this head. The company
has indentified costs that are directly attributable to this new
project.
8) Previous year's figures have been regrouped and rearranged wherever
necessary to confirm to current years classification.
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