| 1. Contingent Liability & Commitments
i) Performance Bank guarantee outstanding Rs. 13,342,291/- (Previous
Year 15,407,553/-) & against which fixed deposits Rs. 36,55,512/-
(Previous year 25,81,193/-) are lying with Bank.
ii) Claims against the company not acknowledged as debts
a) Income Tax Matters Rs. 4,48,770/-
2. Disclosure under Micro and Small Enterprises Development Act,
2006.
The Company has not received the required information from creditors
regarding their status under the Micro, small and Medium Enterprises
Development Act, 2006. Hence disclosures, if any relating to amounts
unpaid as at the year end together with interest paid/payablc as
requited under the said act have not been made.
3. In the opinion of the Board of Directors, all current assets loans
&. advances are expected to be realized in the ordinary course of
business at least an amount equal to the amount at which they are
stated in the Balance Sheet.
4. Miscellaneous Expenses do not include any item in excess of Rs.
100,000/- or one percent of turnover whichever is higher.
5. SEGMENT REPORTING
In accordance with the Accounting Standard-17 on segment Reporting
issued by Institute of Chartered accountants of india, the Company is
primarily in the business of manufacturing and Machining of Bogie
Frames. Other activity of the company comprise of manufacturing of
Chemicals. Income from sale of chemical does not contribute
significantly to the overall profit of the company and the assets are
not more than 10% ofthe total assets of all the segment. Accordingly,
disclosure of segment information is not applicable.
6. RELATED PARTY DISCLOSURE
(I) Related party disclosure as required by Accounting Standard - 18
"Related party disclosures" are given below
SL Name of the Related parties Relationship
No.
1. Shri Ashok Khaitan Key Management personnel
2. Shri Ayush Agarwalla Key Management personnel
3. Shri Suyash Khaitan Key Management personnel
4. Chirau Commodities (P) Ltd. Associates
5. Dhansar Capital Limited Associates
6- Joyous Marketing & Impex (P) Ltd, Associates
7. Black Diamond Explosive (P) Ltd. Associates
S Dhansar Engineering Co. (P) Ltd. Associates
9. Hilltop High rise (P) Ltd Associates
10. Ashok Khaitan (HUF) Associates
11. Aloke Khaitan(HUF) Associates
12. Ayush Agarwalla (HUF) Associates
13 Sri. Alok Khaitan Relatives of Key
Managerial Person
14, Sri. Soumya Agarwalla Relatives of Key
Managerial Person
15, G.N,Khaitan (HUF) Relatives of Key
Managerial Person
7. Expenditure in Foreign Exchange Rs.4,93,181/- (Previous year Rs.
9,75,799/-)
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