| 1. Preference Shares:
5,00,000 Redeemable 5% Cumulative Preference Shares of Rs.100/- each
aggregating to Rs.500 lakhs were allotted on 30.06.2006 and 23.05.2008
and are redeemable on or before 30.06.2016 & 23.05.2018 at the option
of the Company. Arrears of Preference Dividend for the period ending
31.03.2014 is Rs.179.56 lakhs (Rs.154.56 lakhs as on 31.03.2013).
2.Related Party Disclosure:
Information on related party transactions as required by Accounting
Standard 18 for the year ended 31.03.2014.
3. Since Excise Duty is paid on removal of goods under self-removal
procedure, provision has not been made in the accounts for Excise Duty
in respect of closing stock of Finished Goods lying at the factory as
on 31.03.2014. This company is in the process of identifying active
inventories, evaluation of which may render suitable adjustments if
any, on completion of the exercise. However at this stage no provision
thereby arises and hence no adjustments are considered necessary in the
accounts.
4. Provision for accrued gratuity and leave encahment benefits payable
to employees has been made on the basis of actuarial valuation as per
Accounting standard - 15, but the same has not been funded.
5. The previous year's figures have been regrouped/reclassified
wherever necessary to correspond with the current year classification /
disclosure.
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