NOTES ON ACCOUNTS

21) Total outstanding dues to small scale industries undertakings as on 31st March, 2016 is Rs NIL (Previous Year - Rs NIL)
22) Contingent Liabilities 2015-2016 2014-2015
Counter guarantees in respect of bank Guarantees 5,000 5,000
23) Balance of Creditors, Unsecured Loans & Advances to body corporate are subject to confirmation & Reconciliation
24) In the opinion of the Management, the Current Assets, Loans & Advances are valued at amount which can be realized in ordinary course of business.
25) Balance with brokers is subject to confirmations & reconciliations.
26) The value of closing stock of shares is certified by management.
27) Details of Research & Development Costs:
Expenditure on Research & Development activities as certified by the Management is Rs NIL (Including Capital Expenditure Rs NIL)
28) No provision of income tax has been made in the accounts, in view of the brought forward losses of the earlier years. Further, no Minimum Alternate Tax (MAT) under the provisions of Section 115JB of the Income TaxAct, 1961 is payable in view of unabsorbed book depreciation of earlier years.
29) In Accordance with the Accounting Standard 22 " Accounting for Taxes on Income" issued by the Institute of Chartered Accountants of India, the company has not accounted for deferred tax asset during the year as in opinion of the Management there is no reasonable certainty of future taxable profits arising.
30) Previous Year's figures have been regrouped/ reclassified wherever necessary to compare with current year's figures.
31) Related Party Disclosure