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22.1 Contingent Liabilities
a. Claims against company not acknowledged as debts:
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(' in lakhs)
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Particulars
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Period to which the amount relates
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Forum where the dispute is pending
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Amount
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Income Tax
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F.Y. 2013-14
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Assessing Officer
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0.42
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Income Tax
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F.Y. 2020-21
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Assessing Officer
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4.13
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VAT
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F.Y. 2013-14
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JCT Appeals
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23.18
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Elecon
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2011-12,2012-13,2013-14 & 2014-15
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Arbitration
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345.49
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FL Smidth
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2010-11
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Mumbai High Court
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USD 32.65
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GST
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F.Y. 2017-18
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Allahabad GST Appeals
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9.98
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b. Guarantees given by the company's bankers: Rs. 699.50 lakhs (P.Y.: Rs. 821.99 lakhs)
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22.4 Segmental Reporting
The Company is operating in a single primary segment i.e. EPC business. Accordingly, no segment reporting as per Indian Accounting Standard 108 has been done.
22.5 Foreign Exchange Exposure
The company has not entered in any forward contract for hedging during the year and there are no such contracts outstanding at the end of the year.
22.8 Other Notes:
a) In the opinion of the Board of Directors, Current Assets, Loans and Advance have the value which these are stated in the Balance Sheet, if realized in the ordinary course of business and the provisions for all known liabilities is adequate and not in excess of or less than the amount reasonably necessary.
b) The balances of Trade Receivable and Trade Payables are subject to adjustments if any on reconciliation/settlement of respective accounts. However Balances of Trade Receivable and Trade Payables generally stand reconciled based on subsequent realizations and payments.
c) Previous year's figures have been regrouped / reclassified wherever necessary to correspond with the current year's classification / disclosure.
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