| 1. (i) There has been no movement in the equity shares in the current
year and previous year.
(ii) There is no change in issued, subscribed and paid up capital
during the current year and corresponding previous year
(iii) The company has only one class of Equity Shares having a par
value of Rs. 10 per share
(iv) Each holder of equity share is entitled to one vote per share
(v) Shareholders holding more than 5% shares
2. Contingent liabilities not provided for:
As At As At
31.03.2014 31.03.2013
Rs. Rs.
a) Counter guarantee given by Bank - -
b) Claims not acknowledged as debts - -
i) Excise Duty demand (against 16,912,000.00 13,655,000.00
which the company has preferred
appeals)
ii) Income Tax demanded 17,587,000.00 20,679,000.00
iii) Demand from DGFT (against which
the company has preferred appeals) - 22,500,000.00
iv) Sales Tax 12,632,000.00 12,632,000.00
v) Dues of Municipal Corporation
Rajpura 1,805,000.00 1,805,000.00
vi) SASF 1,000,000.00 -
No Provision has been made for the aforesaid contigent liabilities as
the company's DRS is under consideration of Hon'ble BIFR.
3. No Provision has been made for Income Tax
4. The company has not produced books of accounts and other relevant
record in respect of Baramati unit which has since been sold, as such
the balances are taken as per audited balance sheet as on 31-03-2008.
The impact of transactions entered into by the company at Baramati Unit
after 31-03-2008 will be considered when the relevant documents are
produced.
5. In the absence of confirmation letter of balances from Debtors,
Creditors and Other parties,the balances are taken as per the books of
accounts
6. Related Party Disclosure Under Accounting Standard (AS)18
A Key management personnel and their relatives
i) Mr. Rupinder Singh Ahluwalia, Chairman
ii) Mrs. Sandeep Kaur Ahluwalia, Director (Administration)
iii) Mrs. Mandeep Ahluwalia Pahwa, Director
iv) Mr. Kamal Jain, Director
v) Mr. Raj Kumar Bali. Director
vi) Ms. Manpreet Kaur Ahluwalia, relative
B. Entities over which key management personnel are able to exercise
significant influence:
i) M/s. Balaji Steel & Pipes
ii) M/s. Silver Business Opportunities Pvt. Ltd.
iii) M/s. Surindra Engg. Co. Ltd.
iv) M/s. Mukat Tanks and Vessels Ltd.,
7. Previous year's figures have been regrouped/reclassified wherever
necessary to correspond with the current year's classification /
disclosures.
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