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110Name of the Statute Nature of Dues Amount (` in lacs) Forum where dispute is pending[net of payments]The Central Sales Tax Act, 1956 Sales Tax dues for the year 2001-02 4.85 The High Court of Jharkhand at RanchiThe Delhi Sales Tax Act Sales Tax dues for the year 2002-03 4.91 The High Court of DelhiThe Central Excise Act, 1944 Excise valuation disputes for the year 2002-03 18.57 Customs, Excise and Service Tax AppellateTribunal, ChennaiFinance Act, 1994Finance Act, 1994Finance Act, 1994Service Tax dues for the period August2004 to July 2007Service Tax dues for the period October2006 to January 2008Service Tax dues for the periodJanuary 2004 to August 200794.98 Customs, Excise and Service Tax AppellateTribunal , New Delhi6.60 The Commisioner of Central Excise, Jaipur.861.03 Customs, Excise and Service Tax AppellateTribunal , KolkataFinance Act, 1994 Service Tax dues for the period 2004 to 2009 41.47 The Commisioner of Central Excise, Kolkata10. The Company has no accumulated losses as at 31st March, 2011, and it has not incurred any cash loss in the financial year ended on that date. TheCompany had incurred cash loss of ` 0.07 lacs in the immediately preceding financial year.11. According to the records of the Company examined by us and the information and explanations given to us, the Company has not defaulted in repaymentof dues to any financial institution or bank or debenture holders as at the Balance Sheet date.12. The Company has not granted any loans and advances on the basis of security by way of pledge of shares, debentures and other securities.13. Provisions of any special statute applicable to chit fund/ nidhi/ mutual benefit fund/ societies are not applicable to the Company.14. In our opinion, the Company is not a dealer or trader in shares, securities, debentures and other investments.15. In our opinion, and according to the information and explanations given to us, the Company has not given any guarantee for loans taken by others frombanks or financial institutions during the year.16. In our opinion, and according to the information and explanations given to us on an overall basis, the term loans have been applied for the purposes forwhich they were obtained.17. On the basis of an overall examination of the Balance Sheet of the Company, in our opinion and according to the information and explanations given to us,there are no funds raised on short term basis which have been used for long term investment.
Overview Performance Reviews Governance Financials111Annual Report 2010-1118. The Company has not made any preferential allotment of shares to parties and companies covered in the register maintained under Section 301 of the Actduring the year.19. The Company had neither any outstanding debenture at the beginning of the year nor has it issued any debenture during the year and accordingly, thequestion of creation of security or charges in this respect does not arise.20. The Company has not raised any money by public issue during the year.21. During the course of our examination of the books and records of the Company, carried out in accordance with the generally accepted auditing practicesin India, and according to the information and explanations given to us, we have neither come across any instance of fraud on or by the Company, noticedor reported during the year, nor have we been informed of such case by the management.22. The other clauses, (iii)(b), (iii)(c), (iii)(d), (iii)(f), (iii)(g) and (v)(b) of paragraph 4 of the Companies (Auditor’s Report) Order 2003 as amended by theCompanies (Auditor’s Report) (Amendment) Order, 2004, are not applicable in the case of the Company for the year, since in our opinion there is no matterwhich arises to be reported in the aforesaid order.FOR PRICE WATERHOUSEFirm Registration Number - 301112EChartered AccountantsP. LawPlace : KolkataPartnerDate : 16th May, 2011 Membership Number – 51790
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“We make our customers more profi
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