Orind Exports Ltd. के अकाउंट के लिये नोट

Mar 31, 2011

1. a) Steps have been taken to withdraw the guarantee given to bank for term loan of Rs. 1312 lacs taken by Shashwat International Limited.

b) During the year (2008-09) the Company provided a Guarantee for 1600 lacs to Bank of Baroda in respect of loan taken by Shashwat International Limited. Steps have been taken to withdraw such guarantee.

2. There are no reported Micro and Small Enterprises as defined in the 'The Small and Medium Enterprises Development Act, 2006' (as disclosed in Schedule 9 - Current liabilities) to whom the company owes dues.

3. Write off of Foreign Debts amounting to Rs. 59,27,257.58 in 2009-10 is awaiting approval of Reserve Bank of India.

4. Information about Segment Reporting :

The company is engaged in trading and application of refractory products and the same constitute the main activity of the company. Accordingly, the Accounting Standard-17, Segment Reporting is not applicable.

5. In absence of taxable income, provision for current tax has not been made.

6. In absence of virtual certainty of income deferred tax asset has not been created in respect of business loss and unabsorbed depreciation.

7. The figures for the previous years have been re-grouped/recast as far as practicable to make them comparable with those of the current year.

8. Figures have been rounded off to the nearest Rupees.

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Mar 31, 2010

1. a) Steps have been taken to withdraw the guarantee given to bank for term loan of Rs. 1312 lacs taken by Shashwat International Limited.

b) During the year (2008-09) the Company provided a Guarantee for 1600 lacs to Bank of Baroda in respect of loan taken by Shashwat International Limited. Steps have been taken to withdraw such guarantee.

2. There are no reported Micro and Small Enterprises as defined in the The Small and Medium Enterprises Development Act, 2006 (as disclosed in Schedule 9 - Current liabilities) to whom the company owes dues.

3. Write off of Foreign Debts amounting to Rs. 59,27,257.58 during the year is awaiting approval of Reserve Bank of India.

4. During the year under audit the company has written off Rs. 17,18,48,641.22 as per BIFR order.

5. Information about Segment Reporting

The company is engaged in trading and application of refractory products and the same constitute the main activity of the company. Accordingly, the Accounting Standard - 17, Segment Reporting is not applicable.

6. In absence of taxable income, provision for current tax has not been made.

7. In absence of virtual certainty of income deferred tax asset has not been created in respect of business loss and unabsorbed depreciation.

8. The figures for the previous years have been re-grouped/recast as far as practicable to make them comparable with those of the current year.

9. Figures have been rounded off to the nearest Rupees.