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Schedules forming part of the Account
s
| Annual Report 2008-09
(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, 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 and 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
21.00
18.00
(ii)
In other capacity:
For tax audit
6.00
4.00
For certificates
10.95
19.00
(iii)
For expenses
2.04
1.47
39.99
42.47
(b) Cost auditors:
(i)
As auditors
1.30
2.24
(ii)
For expenses
0.08
0.09
1.38
2.33
6
C I F value of imports, remittances, expenditure and earnings in foreign currency:
(a) C I F value of imports:
Raw materials
19,008.95
16,882.50
Finished goods - for trading
876.35
–
Capital goods
966.93
177.60
(b) Expenditure in foreign currency:
Commission
410.93
382.54
Other matters
514.98
684.97
(c) Remittances:
Loan repayments
587.52
500.42
(d) Earnings in foreign currency:
F O B value of exports
56,083.19
48,573.60
SCHEDULE 16 NOTES FORMING PART OF THE ACCOUNTS
2008-09 2007-08
67