Statement of Assets and Liabilities for last Five Years and Latest ...

amortised over the balance tenor of the borrowings. During the year, a sum of Rs.35Lakhs (P.Y. Rs.47 Lakhs) has been amortised, leaving a balance of Rs.48 Lakhs as on31-03-2012 (P.Y. Rs.83 Lakhs).21. Interest on Deposits (Note No.19) includes Tax Deducted at Source amounting to Rs. 69Lakhs (P.Y. NIL). Ministry of Railways has also deducted tax at source amounting toRs.14824 Lakhs (P.Y. Rs. 12676 Lakhs).22. Certain disclosures are required to be made under the Micro, Small and MediumEnterprises Development Act, 2006. The Company is in the process or compilingrelevant information from its suppliers about their coverage under the Act. As theCompany has not received the relevant information under the Act till finalisation ofaccounts, no disclosure has been made in the account.23. The Company has a system of physical verification of assets given on lease. The physicalverification is carried out on a sample basis, as 100% physical verification of rollingassets is neither logistically possible nor considered necessary. In addition, Ministry ofRailways (Lessee) provides a certificate each year that the leased assets are maintainedin good working condition as per laid down norms, procedures and standards. In theopinion of the management, the aforesaid system is satisfactory considering the factthat the assets are maintained and operated by the Central Government.24. (a) The financial Statements for the year ended 31 st March 2011 were prepared as perthe then applicable Schedule VI to the Companies Act, 1956. Consequent to thenotification of Revised Schedule VI under the Companies Act, 1956, the financialstatements for the year ended 31 st March, 2012 are prepared as per the RevisedSchedule VI. Accordingly, the previous year figures have been reclassified / regrouped /rearranged wherever necessary to conform to this year’s classification. The adoption ofrevised Schedule VI for previous year figures does not impact recognition andmeasurement principles followed for preparation of financial statements.(b) Unless otherwise stated, the figures are Rupees in Lakhs.