Karnavati Alfa International Ltd. के अकाउंट के लिये नोट

Mar 31, 2008

1. previous year figures have been regrouped wherever necessary, previous year figures have been shown in brackets.

2. Contingent liabilities not provided for:

a) Disputed Liability in respect of Excise Amount (Rs. Nil) and other taxes Unascertainable

3. In absence of confirmation from parties the balances appearing of the debtors, creditors, loans & advances given taken are as per the books of accounts.

4. The company has no Information as to whether any of its suppliers constitute a small scale industrial undertaking and therefore, the amount due to such suppliers has not been identified.

5. In view of assessable loss under the Income tax Act, 1961, no provision is made for the income tax for the year.

In view of the uncertainty of availment of tax benefit on accumulated losses and unabsorbed depreciation, if any, the company has not considered any deferred tax assets as required to be disclose under Accounting Standard 22 "Accounting for Taxes on Income" issued by the Institute of Chartered Accountants of India (ICAI)

6. The Sundry Debtors and Loans & advances as shown in the Balance Sheet are outstanding for a period of more than one year and we have relied on management explanation for its receipt in case of debtors and settlement in case of Loans & Advances.

7. The company has not provided for gratuity and leave encashment and shall be accounted as and when it is paid.

8. Additional Information Pursuant to the provisions of paragraphs 3, 4C and 4D part II, Schedule VI to the Companies Act, 1956. (As certified by the management).

Note:

1. Installed Capacity is assessed by the management and being a technical matter accepted by the Auditors as correct. Licensed capacity is not applicable.

9. Related Party Disclosure

1. Related Parties (As per AS 18)

A. Key Management Personnel;

Shri Hemang A. Shah-Director

10. Expenditure in Foreign Currency : Nil (Nil)

11. Earning in foreign Currency : Nil (Nil)