Atul Ltd 2008-09

Schedules forming part of the Consolidated Account s (Rs in lacs) 1 Contingent Liabilities not provided for in respect of: (a) Disputed excise demands - matter under appeal 910.04 1,367.76 (b) Disputed customs demands - matter under appeal 239.58 275.31 (c) Disputed water charges - matter under appeal 5,926.21 5,607.72 Pursuant to the order passed by Honourable High Court of Gujarat of dated November 17, 2008 and April 17, 2009 in case of disputed water charges, the Company has created first charge over its certain land & buildings in favour of Government of Gujarat. (d) Claims against the Company not acknowledged as debts 1,079.27 242.86 (e) Income tax demands (including interest) - matter under appeal 1,866.24 1,123.72 (f) Sales tax - matter under appeal 128.67 55.86 (g) Guarantees given by the Company to banks and financial institutions on behalf of the third parties 91.74 91.74 Note: Future cash outflows in respect of (a) to (f) above are determinable on receipt of judgements | decisions pending with various forums | authorities. 2 Estimated amount of contracts remaining to be executed on capital accounts and not provided for (net of advances) 472.74 1,407.42 3 Profit & Loss Account includes expenditure on Research & Development and Pilot Plants as under: Materials consumed 30.84 16.21 Other expenditure 856.83 709.65 4 Charge by way of hypothecation of tangible current assets (other than moveable machinery), namely raw materials, finished and semi-finished goods, inventories and book debts of the Company as a whole and also charge by second and subservient charge on immovable assets of the Company to the extent of individuals banks limits as mentioned in joint consortium documents and also extends guarantee given by the bankers. Amount of guarantee outstanding at the end of the year 3,149.72 2,775.52 5 Payments to Auditors: (a) Statutory Auditors: (i) As Auditors 42.12 35.67 (ii) In other capacity: For tax audit 6.06 9.05 For certificates 10.95 14.00 (iii) For expenses 2.04 1.47 61.17 60.19 (b) Cost Auditors: (i) As Auditors 1.30 2.24 (ii) For expenses 0.08 0.09 1.38 2.33 SCHEDULE 16 NOTES FORMING PART OF THE ACCOUNTS 2008-09 2007-08 102