Note : 12(c) - Terms .mil Ki^ils attached to Equity Sham
The Company Hm only one Hass of equity share* having a par value of R* 10/- each. Each holder of equity Rharca is entitled to one vote per share The dividend proposed by the Board of Directors, if any, is subject to the approval of the shareholders in the ensuing Annual General Meeting In the event of liquidation, die equity shareholder are eligible to receive the remaining assets of the Company after distributions of all preferential nmount, in proportion to the sliareholriing
*”***'________ _______________ ____ iuo,— i _
The company has called for confirmation from Trade Payables. The Management has, however, scrutini/cd the accounts and has Confirmed that these art current and are payable. In the absence of balance reconciliation of trade payables, these are continued to be subject to adjustments thereto having ai impact of a revenue nature, if any, will be made in the year in which the same are fully reconciled. Though till the date of signing of the balance sheet w< have not came across of any such difference between the balance confirmation of any parties.
Disclosures required under Section 22 of the Micro. Small and Medium Enterprises Development Act, 3 2006
Rased on the information available with the Company, creditors have been identified as “supplier" within the meaning of “ Micro, Small and Medium Enterprises Development (MSMKD) Act 2006”. This information has been relied upon by the auditors.
30.2 Foreign Currency Transaction
The foreign Exchange transaction entrered into are marked to market as on the closing date and any difference is transferred to profit and loss account
30.3 Employee benefits plans
Short-term employee benefits are recognized as an expense at the undiscounted amount in the profit and loss account of the year in which the related service is rendered.
No provision is made for Gratuity, it will be recorded on payment basis.
Employee benefits include provident fund long service awards and post-employment medical benefits.
Post-Employment Benefits
A defined contribution plan is a post-employment benefit plan under which the Company pays specified contributions to a separate entity. The Company makes specified monthly contributions towards Provident Fund. The Company’s contribution is recognised as an expense in the Profit and Loss Statement during the period in which the employee renders the related service.
Defined Contribution Plans
The liability in respect of defined contribution plans and other post-employment benefits is calculated using the Projected Unit Credit Method and spread over the period during which the benefit is expected to be derived from employees’
services.
Actuarial gains and losses in respect of post-employment and other long term benefits are charged to the Profit and Loss Statement.
30.4 Related Party Disclosures
Disclosure of related parties with there year end balances are as follows: a)Namc of related parties and description of relationship
3«-5 Deferred fax Assets/(Liabilitie»)
Deferred tax is recognised on temporary differences between the carrying amounts of assets and liabilities and the amount used for taxation purpose (tax base), at the tax Tax effects of signifi cant timing differences, that resulted in Deferred Tax Asset & Liabilities and description of item thereof that creates these differences are as follows :
30.6 Impairment of Assets:
An item of property, plant and equipincnt/inlangible assets is treated as impaired when the carrying value of the assets exceeds its recoverable value, being higher of the fair value less cost to sell and the value in use An impairment loss is recognized as an expense in the Profit and Loss Account in the year in which an asset is impaired. The impairment loss recognized in prior accounting period is reversed if there has been an improvement in recoverable amount.
31 Previous year Comparatives
The figures of the previous year have been rcgroupcd/rc-arrangcd wherever necessary for true and fair presentation of the financial statements.
32 Figures are rounded off to the nearest multiple of hundred and shown in balance sheet in thousands
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