| 1. The Company was declared a Sick Industrial Company on dated
18/10/2002 as per the provision of Sick Industrial Company Act, 1985
(SICA). Thereafter net worth of the company turned positive as per the
Audited Balance Sheet of 31.03.2009 and accordingly company ceased to
be a sick industrial unit as per the provision of Sick Industrial
Company Act, 1985 (SICA). The Company is in the Process of Growing /
Rehabilitation accordingly accounts have been prepared on "Going
Concern Basis".
2. Investments :-
(a) National Saving Certificate of Rs. 20000/- (Previous Year Rs
20000/-) are lodged with Sales Tax Department and are held in the name
of one of the Director of the Company.
(b) The Company holds unquoted shares in the form of Investments
amounting of Rs. 6,00,000/- (P.Y. Rs. 6,00,000/-) which are considered
good. In the opinion of the Management, no provision us made in
accounts in respect of such investments.
(c) The Company holds 900000 unquoted equity shares at a total
consideration of Rs. 360.00 Lacs of M/s Protect Nature Private Limited
("PNPL**) (97.26% Holding of "PNPL"). Pursuant to the said
acquisitions, PNPL became subsidiaries of the Company.
(d) During the year, the Company has acquired 67200 Quoted equity
shares at a total consideration of Rs. 23.32 Lacs of M/s Choksi
Laboratories Limited.
3. The figures of the previous year have been re-groped and
re-arranged as & where required.
4. In opinion of the Board of Directors and best of our knowledge and
belief, the value on realization of Loans & Advances, Sundry Debtors
and other current assets and long term loans & advances are in the
ordinary course of business and will hot be less then the amount at
which they are stated in the Balance Sheet.
5. In opinion of the Board of Directors and best of our knowledge and
belief, the value on realization of Loans & Advances, Sundry Debtors
and other current assets and long term loans & advances are considered
good and the confirmation from such advances / assets are still
awaited.
6. Traveling Exp., included exp. incurred by the Director of the
company for the purpose of the business of the company
7. Related Party Disclosure: Director has certify that there were no
transaction 'with Related Parties, as per Accounting Standard 18 on
"Related Party Disclosure" issued by the Institute of Chartered
Accountants Of India.
8. The Provision for Income Tax (MAT) has been made as per Income Tax
Act. Deferred Tax Liability & Assets calculated as per AS-22 issued by
ICAI.
9. Transaction related to MSME's : No Information has been reed. From
suppliers towards their status being small scale/ancillary undertaking
/ MSME's.
10. Estimated amounts of contracts remaining to be executed on capital
account and not provided for Rs. Nil (Previous Yeas Nil.)
11 None of the employees of the company were in receipt of remuneration
in excess of limits specified under section 217(2A) of the Companies
Act, 1956.
12 Previous year figures have been regrouped, reclassified and recast
wherever considered necessary to make them comparable with current year
figures.
13 In absence of proper information in respect of trade payables as to
their status as Micro, Small and Medium enterprises as defined in the
Micro, Small and Medium Enterprises Development Act, 2006, Company is
not in a position to state information required.
14 Estimated amounts of contracts remaining to be executed on capital
account and not provided for Rs. Nil (Previous Yeas Nil.)
15 Cash balance has not been verified at the end of accounting year and
taken as certified by the management.
16 Retirement Benefits
Provision for Gratuity / Leave Encashment / Provident Fund / E.S.I.C.
etc. are not Applicable to the company.
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