| NOTE NO: 1 - LONG TERM BORROWINGS
For purchase of Vehicles under Hypothecation Hire Purchase Finance:
Secured by hypothecation of vehicles purchased and personal guarantee
of Directors of Company.
NOTE NO: 2 - SHORT TERM BORROWINGS
There was no default as on 31.03.2014 and 31.03.2013 in repayment of
bans and interest payments on working capital cash credit bans.
Cash Credits working capital ban from Andhra Bank, Nandyal Secured by
hypothication of inventory of raw materials finished goods, stocks
in-process, book debts first charge on the fixed assets of the company
and personal guarantee of the Directors.
A. ADDITIONAL NOTES
1. Provision for Income Tax has been made for the current year as per
the I.T. Act.
2. Additional Information pursuant to paragraph 3, 4C and 4D of Part II
of Schedule VI of the Companies Act, 1956;
3. Estimated amount of contracts remaining to be executed on capital
account and not provided for (net of advance) is Rs. Nil (Rs. Nil
previous year)
4. Contingent Liabilities;
2013-14 2012-13
a) Letter of Credit opened by
the Bankers Rs.650.00 Lacs Rs.650.00 Lacs
5. No amounts are due to any Small Scale or Ancillary Industrial
Undertaking qualifying under the definition set down by "The Interest
on delayed Payments to Small Scale and Ancillary Industrial Undertaking
Ordinance, 1992".
6. Sundry Debtors, Loans & Advances and Creditors are subject to
confirmation and reconciliation.
7. Investments representing NSC Certificates, which are matured
amounting to Rs. 10,025/purchased for the purpose of SSI Registration
in the year 1996.
8. Segment Reporting : The Company is engaged in the business of PVC
pipes and fittings. Since both these activities are governed by the
same set of risks and returns and operating in the same economic
environment, these have been grouped as a single segment in the
financial statements. The said treatment is in accordance with the
Accounting Standard - 17 on "Segment Reporting".
9. Previous year have been regrouped/reclassified wherever necessary to
correspond with the current year's classification and disclosure.
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