| 1. Liabilities not provided for in respect of
Rs. 1,59,06,603.27 raised by West Bengal State Electricity Board
(WBSEB) for the period from 01-04-95 to 30-04-97. The Company has
disputed the Demand and filed a petition in Kolkata High Court.
Subsequently the Kolkata High Court referred the case to the Chief
Electrical Inspector, Government of West Bengal. The Chief Electrical
Inspector awarded the same and directed W.B.S.E.B. to issue fresh Bill.
Subsequently W.B.S.E.B. has issued revised bill Rs. 51,96,125/-.
2. No provision for gratuity has been made in as no employee has put in
the qualifying period of service entitling him to benefit of gratuity.
3. Additional information pursuant to Part II of the Schedule VI to the
Companies Act, 1956.
4. The Company operates in a solitary business segment i.e. Real Estate
Business. Accordingly no further financial information for business
segments is required to be given. The total sales of the company for
the year is comprised of Real Estate Business. Accordingly no further
financial information for geographical segment is required to be given.
5. Deferred Tax : The company has unabsorbed depreciation and carried
forward losses available for set-off under the Income Tax Act, 1961.
However in view of present uncertainty regarding generation of
sufficient future taxable income, net deferred tax assets at the year
end including related credit for the year have not been recognized in
these accounts on prudent basis.
6. Payment against supplies from Small Scale Industries and ancillary
undertakings are generally made in accordance with the agreed credit
terms. There was no overdue amount outstanding for more than 30 days in
this regard.
7. Since the Company has accumulated loss, so no provision for Income
Tax has been made during this year.
8. No balance confirmation has been taken from any Debtor.
9. Figure's has been rounded off to the nearest rupee.
10. Previous year's figures have been regrouped and re-arranged
wherever found necessary.
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