| A. Contingent liability towards custom duty is yet to be ascertained
by custom and excise appellate tribunal. The demand raised by the
tribunal has been duly deposited by the company hence no amount has
been considered as contingent liability for the year ending on 2006.
B. Contingent liability towards income tax for the assessment years
2008-2009 to 2010-2011 has not been considered as debt as the matter is
pending with commissioner of income tax appeals. The disclosed claimed
against the company not acknowledged as debts after careful evaluation
of the fact and legal aspects of the matter involved. Such matters are
in favor of the company.
C. No payment has been made to a director of the company during the
year as remuneration including perquisites.(previous year - NIL).
D. Balance of sundry debtors, sundry creditors, loans & advances
payable or receivable are subject to confirmation from some of the
parties
E. The company does not own any sum exceeding Rs. 1,00,000/- to small
scale undertaking which is outstanding for more than 30 days.
F. Auditors remuneration
1. Related Parties Disclosure:-
During the year there was some transitions with M/s Jagson
International Limited, M/s. Pradeep Oil Corporation and M/s. Jindal
service station, Shri J P Gupta is the key managerial person in all
these entities.
2. Previous year figures have been regrouped / rearranged wherever
necessary.
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