| 31.3.2015 31.3.2014
1. Contingent liability not provided for
in respect of:
(a) Income tax demand disputed pending on
appeal 41,08,129 41,08,129
(which includes income tax demand for the
A.Y-2004-05
for Rs.704531/- has been paid in full and
dispute pending on appeal)
(b) Bills discounted with banks 7,18,84,448 9,85,26,158
(c) Income tax demand for the A.Y2003-04 and 2004-05 fully paid and
pending before the assessing Officer in connection with Section 80HHC.
(d) A.Y 2003-04 pending with CIT appeal III
2. The Company has received insurance claim settlement amounting to
Rs.42,29,575/- for Nagelkeni Unit and Rs.708013/- for Uthiramerur Unit
during this year.
3. RELATED PARTIES TRANSACTIONS:
The Company has entered into the following transactions with related
parties as defined in Accounting Standard 18 issued by the institute of
Chartered Accountants of India.
4. The balances in sundry debtors, sundry creditors, loans, certain
bank balances and advances including advances to capital contracts are
subject to confirmation, reconciliation and consequential adjustments,
if any, to be made.
5. Previous year figures have been regrouped wherever considered
necessary to conform to current year's classification.
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