Note 1. Deferred Tax Liabilities / Assets (net)
In accordance with the Accounting Standard 22 on" Accounting for Taxes
on Income" issued by The Institute of Chartered Accountants of India,
Deferred tax assets and liabilities should be recognized for all timing
differences in accordance with the said standard.
Note 2. Related Party Transactions
a) List of Related Parties
Key Management Personnel
Priya Chaudhary Managing Director
Ashwin Chaudhary Director
Dalpat Tabhajibhai Anjaria Director
Note 3. Expenses in foreign currency : NIL (P.Y. NIL)
Earnings in foreign currency : NIL (P.Y. NIL)
Note 4. During the year, the company has not carried on more than one
activity. Therefore Segment Reporting as per AS17 is not applicable to
the Company.
Note 5. Previous year's figures have been regrouped / rearranged
wherever necessary, so as to make them comparable with those of the
current year.
NOTES:
A) No Provision has been made for Sundry debtors doubtful of recovery
amounting to Rs.3,65,79,872/- (P.Y. Rs.3,65,79,872/-)
B) The Debtors and Creditors balances and loans and advances including
advance given against supplies and capital equipment either debit or
credit and other liabilities are subject to confirmation and
reconciliation is necessary and it will have consequential effect to
the loss of the company which cannot be quantified at this stage.
C) In the opinion of the board the current assets, loans and advances
have a value on the realization in the ordinary Course of Business at
least equal to the amount at which they are stated in Balance Sheet and
are as certified by them
D) Sundry Debtors includes debtors outstanding exceeding six months
amounting to Rs.3,65,79,872/-(P.Y. Rs.3,65,79,872/-) against sales. In
the opinion of management all of them are fully receivable except what
is mentioned in the clause 2 of this Note to Accounts regarding the
recovery for which no provision has been made in the books of
accounts.
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