Santogen Exports Ltd. के अकाउंट के लिये नोट

Mar 31, 2009

1 CONTINGENT LIABILITIES NOT PROVIDED FOR :

a)Litigation with secured creditors lying with various authorities, amount of which is not ascertainable in absence of adequate information

b) Litigation with central excise authorities, the amount of which not ascertainable

c) Litigation with provident fund department, the amount of which not ascertainable

2 The balances of Sundry Creditors, Sundry Debtors, Loans & Advances, secured and unsecured loans and other current Assets & Liabilities appearing in the book of account are subjects to confirmation & reconcilation, if any.

3 In the opinion of Board and as certified by the Managing Director all the expenses charged to revenue are genuine and have been solely and exclusively incurred for the business of the company. All the cash transaction covering receipts and payments are genuine and carried out of business expediency

4 Creditors for expenses includes amount due to Directors Rs. 24.16 lacs (24.16 Lacs)

5 The company is in the process of identifying suppliers covered under the Interest on Delayed Payment to Small Scale & Ancillary Industrial Undertaking Act,1993 and is yet to ascertain and account for the liability.

6 No provisions has been made in the accounts for accrued liabilities for gratuity, leave encashment of employee (amount unascertained) as the same is accounted for on cash basis.

7 As required by AS-22, no deffered tax assets is created as in the view of the management, the company may not have any tax liabilities in near future to compensate the deffered tax assets.

8 The company is in manufacturing of Terry Towels and selling it in India and as well as exproting the same.

It is not possible to find out the carring amount of the goods exported and local sales. Hence everything there is geographical segements. no segment accounts are prefered.

9 No interest provided on the term loans and working capital taken by the company from the bank and instutation as the Company is in process of settlement Further the Company has defaulted in the payment to IDBI and Union Bank of India as per the settlement agreed between them. Due to this the Company has reversed the benefit arrived due to this settlement. Due to this reversal loss during the year is increased by Rs. 903.46 Lacs

10 No provisions for fall in market value of investment in equity shres in the company has been made in the books, as in view of the management the investment are in nature of long term & diminition in the value of investments is of temporary nature

11 The Company has not accounted the interest and damage payable to provident fund department due to delay in the payment, as the amount is not ascertainable.

12 Related party disclosure as per AS-18 issued by the Institute of Chartered Accountants of India

A. Information about related parties with whom transactions arc made during the year in the ordinery course of business.

Sr. Particulars Name of Related Parties No..

1) Key Management Personnel a) Shri Ramnaresh Deora

b) Shri.Sanjay Deora

2) Other Related parties a) Shri Sandeep Deora 3) Associates a) Santowin Polyesters Ltd.

b) Cymose Synthetics Pvt. Ltd.

13 Additional information pursuant to provisions under paragraph 3 & 4 of part II of Schedule VI of Companies Act, 1956 (As taken, valued and certified by the Managing Director)

I) Licenced Capacity *

Terry Towels - 2000 Metric Tonnes

- (2000 Metric Tonnes)

Wider Width Fabrics - 50 Lacs Meters

- (50 Lacs Meters)

II) Installed Capacity *

Terry Towete/Wider width - 2000 Metric Tonnes

- (2000 Metric Tonnes)

III) Production *(Kg.)

Terry TowelsAMder width - 86438

- (391,031.00)

14 Previous years figure have been regrouped and recast to correspond with the figure of Cureent year wherever necessary.

15 The figures in bracket represent previous year.