Saka Ltd. के अकाउंट के लिये नोट

Mar 31, 2014

1.1 Contingent Liabilities not provided for :

Excise liabilities of Rs. 34,08, 776/- determine by CESTAT & appeal has been field in Supreme Court against this demand.

Excise liabilities of Rs. 68,99, 000/- pending with CESTAT

Income Tax penalty case of Rs. 22.86 Lacs is pending with ITAT

1.2 Balances grouped under Advances received from customers and Advance recoverable are under reconciliation and subject to confirmation from respective parties. The final adjustment, if any, shall be made on reconciliation of the same. The impact, if any, on the Profit for the year cannot be ascertained at this stage.

2.1 In the opinion of the Board of Directors the aggregate value of current assets, loans and advances on realization in ordinary course of business will not be less than the amount at which these are stated in the balance sheet.

2.2 No amount is due to Micro Enterprise, Small enterprise & Medium enterprise under micro enterprise small enterprise & medium enterprise development act 2006.

Information as required by Accounting Standard (AS) -18 "Related Party Disclosure" issued by the Institute of Chartered Accountant of India is as follow:

2.3 Names of related parties & Relationship:

A) Associate Companies:

(i) OFL Capital Corporation Limited (ii) Monica Electronics Limited (iii) Akasaka Electronics Limited

B) Key Management Personnel & Relatives :

(i) Mr. S C.Rustagi

(ii) Mr. B.P.Yadav

(iii) Mr. V. K.Gupta

(iv) Mrs. Chandra Nithyanand

2.4 The company is exclusively engaged in the business of electronic products, which is considered as the only reportable segment referred to in statement on Accounting Standard (AS)-17 for the "Segmental Reporting". The geographical segmentation is not relevant, as there is no export.

2.5 The company has carry forward business loss and expenses allowable on payment available for set off under Income Tax Act, 1961. The company has closed its manufacturing operations and as such, there is uncertainty regarding generation of sufficient taxable income. In the view of this, the deferred tax asset including related credits for the year end have not been recognized in the accounts on prudent basis.

2.6 The company has closed down its manufacturing operations with effect from 20.7.2004 under section 6 W to be read with 6 V of U.P. Industrial Disputes Act, 1947. The accounts have been prepared as a going concern inspite of the fact the company has closed down its manufacturing operations and its entire net worth has been eroded.

2.7 Information required by Para 5(Viii) of part II of Schedule VI of the Companies Act, 1956…….NIL.

2.8 Previous year figures are regrouped and rearrange wherever necessary as per revised schedule VI of the Companie s Act.

2.9 Note No. 1 & 2 form an integral part of the Balance Sheet and Profit and Loss Account and are duly authenticated.

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Mar 31, 2013

1.1 Contingent Liabilities not provided for:

- Matters pending with Excise Authorities 8,905,740/- (Rs. 8,905,740/-)

1.2 Balances grouped under Sundry Creditors, Advances received from customers and Advance recoverable are under reconciliation and subject to confirmation from respective parties. The final adjustment, if any, shall be made on reconciliation of the same. The impact, if any, on the Profit for the year cannot be ascertained at this stage.

1.3 in the opinion of the Board of Directors the aggregate value of current assets, loans and advances on realization in ordinary course of business will not be less than the amount at which these are stated in the balance sheet.

1.4 No amount is due to Micro Enterprise, Small enterprise & Medium enterprise under micro enterprise small enterprise & medium enterprise development act 2006.

1.5 Information as required by Accounting Standard (AS) -18 "Related Party Disclosure" issued by the Institute of Chartered

Names of related parties & Relationship:

A) Associate Companies:

(i) OFL Capital Corporation Limited

(ii) Monica Electronics Limited

(iii) Akasaka Electronics Limited

B) Key Management Personnel & Relatives :

(i) Mr. S C.Rustagi

(ii) Mr. B.P.Yadav

(iii) Mr. V. K.Gupta

(iv) Mrs. Chandra Nithyanand

1.6 The company is exclusively engaged in the business of electronic products, which is considered as the only reportable segment referred to in statement on Accounting Standard (AS)-17 for the "Segmental Reporting". The geographical segmentation is not relevant, as there is no export.

1.7 The company has carry forward business loss and expenses allowable on payment available for set off under Income Tax Act, 1961. The company has closed its manufacturing operations and as such, . there is uncertainty regarding generation of sufficient taxable income. In the view of this, the deferred tax asset including related credits for the yearend have not been recognized in the accounts on prudent basis.

1.8 The company has closed down its manufacturing operations with effect from 20.7.2004 under section 6 W to be read with 6 V of U.P. Industrial Disputes Act, 1947. The accounts have been prepared as a going concern in spite of the fact the company has closed down its manufacturing operations and its entire net worth has been eroded.

1.9 Information required by Para 5(Viii) of part II of Schedule VI of the Companies Act, 1956.......NIL.

1.10 Previous year figures are regrouped and rearrange wherever necessary as per revised schedule VI of the Companies Act, 1956 which is issued by The Ministry of Corporate Affairs wide notification no. S.O. 447 (e), dated 28-2-2011. Schedule VI of the Act provides the manner in which every company registered under the Act shall prepare its Balance Sheet, Statement of Profit and Loss and notes thereto.

1.11 Note No. 1 & 2 form an integral part of the Balance Sheet and Profit and Loss Account and are duly authenticated.

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Mar 31, 2012

1.1 Non-current investments

a) Onida Finance Limited (OFL) has been wound up by High Court on 23.1.2004 under the provisions Companies Act, 1956. OFL is under liquidation and there is no chance of any recovery out of the Investment in 3,50,000 equity shares of the said Company. The Company has made full provision in the regard.

1.2 Short-term loans and advances

a) Advances recoverable include an amount of Rs. 121.31 lacs (Pervious period Rs. 121.31 lacs) from corporate companies for which no provision has been made as the confirmation of balances from the parties are on record. However, as per analysis of their net worth, as per based on the financial statements available, the recovery of the amounts is doubtful.

1.3 Contingent Liabilities not provided for :

- Matters pending with Excise Authorities Rs. 89,05,740/- (Rs. 89,05,740/- )

1.4 Balances grouped under Sundry Creditors, Advances received from customers and Advance recoverable are under reconciliation and subject to confirmation from respective parties. The final adjustment, if any, shall be made on reconciliation of the same. The impact, if any, on the Profit for the year cannot be ascertained at this stage.

1.5 In the opinion of the Board of Directors the aggregate value of current assets, loans and advances on realization in ordinary course of business will not be less than the amount at which these are stated in the balance sheet.

1.6 No amount is due to Micro Enterprise, Small enterprise & Medium enterprise under micro enterprise small enterprise & medium enterprise development act 2006.

1.7 Information as required by Accounting Standard (AS)-18 "Related Party Disclosure" issued by the Institute of Chartered

Names of related parties & Relationship:

A) Associate Companies:

(i) OFL Capital Corporation Limited

(ii) Monica Electronics Limited

(iii) Akasaka Electronics Limited

B) Key Management Personnel & Relatives :

(i) Mr. S C.Rustagi

(ii) Mr. B. P. Yadav

(iii) Mr. V. K.Gupta

(iv) Mrs. Chandra Nithyanand

1.8 The company is exclusively engaged in the business of electronic products, which is considered as the only reportable segment referred to in statement on Accounting Standard (AS)-17 for the "Segmental Reporting". The geographical segmentation is not relevant, as there is no export.

1.9 The company has carry forward business loss and expenses allowable on payment available for set off under Income Tax Act, 1961. The company has closed its manufacturing operations and as such, there is uncertainty regarding generation of sufficient taxable income. In the view of this, the deferred tax asset including related credits for the year end have not been recognized in the accounts on prudent basis.

1.10 The company has closed down its manufacturing operations with effect from 20.7.2004 under section 6W to be read with 6 V of U.P. Industrial Disputes Act, 1947. The accounts have been prepared as a going concern inspite of the fact the company has closed down its manufacturing operations and its entire net worth has been eroded.

1.11 Information required by Para 5(Viii) of part II of Schedule VI of the Companies Act, 1956 NIL.

1.12 Previous year figures are regrouped and rearrange wherever necessary as per revised schedule VI of the Companies Act, 1956 which is issued by The Ministry of Corporate Affairs wide notification no. S.O. 447 (e), dated 28-2-2011. Schedule VI of the Act provides the manner in which every company registered under the Act shall prepare its Balance Sheet, Statement of Profit and Loss and notes thereto.

1.13 Note No. 1 & 2 form an integral part of the Balance Sheet and Profit and Loss Account and are duly authenticated.

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Mar 31, 2011

1 CONTINGENT LIABILITIES IN RESPECT OF :

Matters pending with Excise Authorities Rs. 89,05,740/- (Rs.89,05,740/-)

2. PROVISIONS FOR DOUBTFUL DEBTS AND ADVANC ES

i) Balances grouped under Sundry Creditors, Advances received from customers and Advance recoverable are under reconciliation and subject to confirmation from respective parties. The final adjustment, if any, shall be made on reconciliation of the same. The impact, if any, on the Profit for the year cannot be ascertained at this stage.

ii) Advances recoverable include an amount of Rs. 121.31 lacs due from corporate companies for which no provision has been made as the confirmation of balances from the parties are on record. However, as per analysis of their net worth as per financial statements available, the amounts are doubtful of recovery.

3. LIABILITIES AND ASSETS

In the opinion of the Board of Directors the aggregate value of current assets, loans and advances on realization in ordinary course of business will not be less than the amount at which these are stated in the balance sheet.

4. FIXED DEPOSITS

Fixed Deposits with banks amounting to Rs.40,927/- (Rs.40,927/-) are under lien with Banks.

5. INVESTMENTS

Investment includes 3,50,000 (3,50,000) Equity Shares of Onida Finance Ltd. which has been wound up by High Court on 23.01.2004 under the provisions of Companies Act, 1956. OFL is under liquidation and there is no chance of any recovery out of said Investment in OFL.

6. DISCONTINUATION OF BUSINESS

The company has closed down its manufacturing operations with effect from 20.7.2004 under section 6 W to be read with 6 V of U.P. Industrial Disputes Act, 1947. The accounts have been prepared as a going concern in spite of the fact the company has closed down its manufacturing operations and its entire net worth has been eroded.

7. DUES OUTSTANDING TO SMALL SCALE UNITS

No amount is due to Micro Enterprise, Small enterprise & Medium enterprise under micro enterprise small enterprise & medium enterprise development act 2006.

8. DEFERRED TAX

The company has carry forward business loss and expenses allowable on payment available for set off under Income Tax Act, 1961. The company has closed its manufacturing operations and as such, there is uncertainty regarding generation of sufficient taxable income. In the view of this, the deferred tax asset including related credits for the year end have not been recognized in the accounts on prudent basis and the deferred tax asset/liability, which was recognized in earlier year, has been written off/written back at the end of the year.

9. RELATED PARTY DISCLOSURES

Information as required by Accounting Standard (AS) -18 Related Party disclosure issued by the Institute of Chartered Account ants of India is as follows:

List of related parties:

A. Associate Companies:

(i) OFL Capital Corporation Limited

(ii) Monica Electronics Limited

(iii) Akasaka Electronics Limited

B. Key Management Personnel & Relatives :

(i) Mr. S C.Rust agi

(ii) Mr. B.P.Yadav

(iii) Mr. V. K.Gupta

(iv) Mrs. Chandra Nithyanand

10. SEGMENT REPORTING

The company is exclusively engaged in the business of electronic products, which is considered as the only reportable segment referred to in statement on Accounting Standard (AS)-17 for the "Segmental Reporting”. The geographical segmentation is not relevant, as there is no export.

11. PREVIOUS YEAR FIGURES

Previous year figures have been regrouped / rearranged wherever necessary.

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Mar 31, 2010

1. CONTINGENT LIABILITIES IN RESPECT OF:

Matters pending with Excise Authorities Rs. 89,05,740/- (Rs.89,05,740/-)

2. PROVISIONS FOR DOUBTFUL DEBTS AND ADVANCES

(i) Balances grouped under Sundry Creditors, Advances received from customers and Advance recoverable are under reconciliation and subject to confirmation from respective parties. The final adjustment, if any, shall be made on reconciliation of the same. The impact, if any, on the Profit for the year cannot be ascertained at this stage.

(ii) Advances recoverable include an amount of Rs. 121.31 lacs due from corporate companies for which no provision has been made as the confirmation of balances from the parties are on record. However, as per analysis of their net worth as per financial statements available, the amounts are doubtful of recovery.

3. LIABILITIES AND ASSETS

In the opinion of the Board of Directors the aggregate value of current assets, loans and advances on realisation in ordinary course of business will not be less than the amount at which these are stated in the balance sheet.

4. FIXED DEPOSITS

Fixed Deposits with banks amounting to Rs.40,927/- (Rs.40,927/-) are under lien with Banks.

5. INVESTMENTS

Investment includes 3,50,000 (3,50,000) Equity Shares of Onida Finance Ltd. which has been wound up by High Court on 23.01.2004 under the provisions of Companies Act, 1956. OFL is under liquidation and there is no chance of any recovery out of said Investment in OFL.

6. DISCONTINUATION OF BUSINESS

The company has closed down its manufacturing operations with effect from 20.7.2004 under section 6 W to be read with 6 V of U.R Industrial Disputes Act, 1947. The accounts have been prepared as a going concern inspite of the fact the company has closed down its manufacturing operations and its entire net worth has been eroded.

7. DUES OUTSTANDING TO SMALL SCALE UNITS

No amount is due to Micro Enterprise, Small enterprise & Medium enterprise under micro enterprise small enterprise & medium enterprise development act 2006.

8. DEFERRED TAX

The company has carry forward business loss and expenses allowable on payment available for set off under Income Tax Act, 1961. The company has closed its manufacturing operations and as such, there is uncertainty regarding generation of sufficient taxable income. In the view of this, the deferred tax asset including related credits for the year end have not been recognized in the accounts on prudent basis and the deferred tax asset/liability, which was recognized in earlier year, has been written off/written back at the end of the year.

9. RELATED PARTY DISCLOSURES

Information as required by Accounting Standard (AS) -18 Related Party disclosure issued by the Institute of Chartered Accountants of India is as follows:

List of related parties:

A. Associate Companies:

(i) OFL Capital Corporation Limited

(ii) MONICA ELECTRONICS LIMITED

(iii) Akasaka Electronics Limited

B. Key Management Personnel & Relatives:

(i) Mr.SC.Rustagi

(ii) Mr. B.RYadav

(iii) Mr. V.K.Gupta

(iv) Mrs. Chandra Nithyanand

10. SEGMENT REPORTING

The company is exclusively engaged in the business of electronic products, which is considered as the only reportable segment referred to in statement on Accounting Standard (AS)-17 for the "Segmental Reporting". The geographical segmentation is not relevant, as there is no export.

11. PREVIOUS YEAR FIGURES

Previous year figures have been regrouped / rearranged wherever necessary.