| 1. The estimated amount of contracts remaining to be executed on
capital account and not provided in the books of accounts : Rs. Nil
2. Contingent liabilities in respect of :
a) Claims against the company not acknowledged as debits
b) Dispute Liability:
I. Sales Tax Rs. 113.00 lakhs
3. The Company has not changed the method of valuation of stocks of
Raw Material, Work - in- progress and finished goods
4. Proper provision for income tax is provided in the books after
considering the Tax Deducted at source and brought forward loss
5. RETIREMENT BENEFITS
a) Gratuity: As the company has no employees working for than five
years, no gratuity has been provided by the company in the accounts.
However, the management will be taking steps to introduce Group
Insurance Scheme with the Life Insurance Corporation of India for
Gratuity payment.
b) Provident Fund: The Company is making to enroll with P.F. Authorities.
6. Reimbursement of expenses i.e., conveyance and food etc has been
provided to Directors for attending Board Meeting held during the year.
7. Preliminary expenses have been amortized as per the provision of
section 35D of the Income tax act, 1951.
8. Sundry Debtors/Creditors/ Loans and Advances and subject to the
confirmation and reconciliation.
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