Notes to Accounts of Hari Govind International Ltd.

Mar 31, 2024

11. Provisions, Contingent Liabilities and Contingent Assets:- (AS-29)

Provisions are recognized only when there is a present obligation as a result of past events
and when a reliable estimate of the amount of the obligation can be made.

Contingent Liabilities is disclosed in Notes to the account for:-

(i) Possible obligations which will be confirmed only by future events not wholly within the
control of the company or

(ii) Present Obligations arising from past events where it is not probable that an outflow of
resources will be required to settle the obligation or a reliable estimate of the amount of
the obligation cannot be made.

Contingent assets are not recognized in the financial statement since this may result in the
recognition of the income that may never be realized.

General:

Except wherever stated, accounting policies are consistent with the generally accepted
accounting principles and have been consistently applied.

(B)Notes on Financial Statements

1. The SSI status of the creditors is not known to the Company; hence the information is not
given.

2. Salaries includes directors remuneration on account of salary Rs NIL. /- (Previous Year Rs.
NIL/-)

3. Trade receivables, Trade payables, Loans & Advances and Unsecured Loans have been
taken at their book value subject to confirmation and reconciliation.

5. Loans and Advances are considered good in respect of which company does not hold any
security other than the personal guarantee of persons.

6. Excise duty has not been taken into account for valuation of finished goods looking at
factory site in view of accounting policy No. 9. The same has no impact on Statement of
Profit and Loss.

7. No provision for retirement benefits has been made, in view of accounting policy No. 8. The
impact of the same on Profit & Loss is not determined.

16. Previous year figures have been regrouped/rearranged wherever necessary.
Signature to notes 1 to 25

In terms of Our Separate Audit Report of Even Date Attached.

For C.V. PATURKAR & CO. For HARIGOVIND INTERNATIONAL

LIMITED

Chartered Accountants

(CA DEVASHISH V. CHITALEY) ^{S/d S/d}

PARTNER JUGALKISHORE SUNITA

Membership No. 151276 HARIKISAN JUGALKISHORE

FRN.114085W MANIYAR MANIYAR

Director Director

Place:- NAGPUR DIN : 00094237 DIN : 01796143

Date: - 30/05/2024

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Mar 31, 2012

1. Claims against the company not acknowledged as debts Rs. NIL (2010 - NIL).

2. Bank Guarantees Issued in favour Customs Department Bombay Rs. 8,76,036/- (2010-Rs. 8,76,036/-).

3. Estimated amounts of contracts remaining to be executed on capital accounts and not provided for as on 31st March, 2012 -NIL (31-03-2011 -NIL).

4. Sales Tax authorities for the years 1989-90 and 1990-91 have raised a demand of Rs. 4 0 306/- and Rs. 4,58,427/- respectively under the Central Sales Tax Act and Rs. 1 38 445/- and Rs. 20,95,556/- under the Bombay Sales Tax Act. However no provisions has been made in respect of the above liabilities in the books of accounts of Sie company as the company has preferred appeals against the said assessment. Since the matter of previous years is under dispute the management has not provided and Sales Tax liability during the current year also.

5 Income Tax assessments for the assessment year 92-93 and 93-94 were completed and the Income Tax Department has raised a demand of Rs. 4,49,528/- and Rs.36,41,000/- respectively However no provisions have been made in respect of the above liabilities in the books of accounts of the company as the company has preferred appeals against the above assessments.

6. (a) Previous year's figures are regrouped and or recast wherever necessary.

(b) Figures in brackets are in respect of the previous year.

(c) Figures are rounded up to the nearest rupee.

7 MANAGERIAL REMUNERATION :

Managerial remuneration under section 198 of the Companies Act, 1956 has been provided (on minimum basis) for the year ended 31st March, 2012, to the Managing Director and Whole Time Directors.

1 Salary: (a) Managing Director - Rs.NIL

(Rs. NIL)

(b) Whole Time Director - Rs.NIL

(Rs. NIL)

2. Money Value of other perquisities - NIL

Or benefits (as no perquisite (NIL)

Are actually given).

8. Provision for Income Tax for the current financial year has not been made in the Books of Accounts as the company does not expect tax liability to arise during the current financial year (Previous year Rs. NIL).

9. During the year the company has received interest on Deposits amounting to Rs. NIL - (Previous Year Rs. NIL) and the Income Tax deducted thereon at source is Rs. NIL. (Previous Year Rs. NIL).

10. During the year the company has not proposed any dividend on its equity capital. (Previous Year NIL).

11. Additional information pursuant to the provisions of paragraph 3, 4, 4A, 4B, 4C and 4D of part 2 of Schedule VI to the Companies Act, 1956 is not applicable in the current year as the commercial production and operations of the company has closed during the financial year 1999-2000.

12. Signatures to Schedule 1 to 13 forms an integral part of accounts.

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Mar 31, 2011

1. CONTIGENT LIABILITIES:

1. Claims against the company not acknowledged as debts Rs. NIL (2010 - NIL).

2. Bank Guarantees Issued in favors Customs Department Bombay Rs. 8,76,036/- (2010-Rs. 8,76,036/-).

3. Estimated amounts of contracts remaining to be executed on capital accounts and not provided for as on 3151 March, 2011 - NIL (31 -03-2010 - NIL).

4. Sales Tax authorities for the years 1989-90 and 1990-91 have raised a demand of Rs. 4,05,306/- and Rs. 4,58,427/- respectively under the Central Sales Tax Act and Rs. 1,38,445/- and Rs. 20,95,556/- under the Bombay Sales Tax Act. However no provisions has been made in respect of the above liabilities in the books of accounts of the company as the company has preferred appeals against the said assessment. Since the matter of previous years is under dispute the management has not provided and Sales Tax liability during the current year also.

5. Income Tax assessments for the assessment year 92-93 and 93-94 were completed and the Income Tax Department has raised a demand of Rs. 4,49,528/- and Rs. 36,41,000/- respectively. However no provisions have been made in respect of the above liabilities in the books of accounts of the company as the company has preferred appeals against the above assessments.

6. (a) Previous years figures are regrouped and or recast wherever necessary.

(b) Figures in brackets are in respect of the previous year.

(c) Figures are rounded up to the nearest rupee.

7. Provision for Income Tax for the current financial year has not been made in the Books of Accounts as the company does not expect tax liability to arise during the current financial year (Previous year Rs. NIL).

8. During the year the company has received interest on Deposits amounting to Rs. NIL - (Previous Year Rs. NIL) and the Income Tax deducted thereon at source is Rs. NIL. (Previous Year Rs. NIL).

9. During the year the company has not proposed any dividend on its equity capital. (Previous Year NIL).

10. Additional information pursuant to the provisions of paragraph 3, 4, 4A, 4B, 4C and 4D of part 2 of Schedule VI to the Companies Act, 1956 is not applicable in the current year as the commercial production and operations of the company has closed during the financial year 1999-2000.

11. Signatures to Schedule 1 to 13 forms an integral part of accounts.

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Mar 31, 2010

1. CONTIGENT LIABILITIES :

1. Claims against the company not acknowledged as debts Rs. NIL (2009- NIL).

2. Bank Guarantees Issued in favour Customs Department Bombay Rs. 8,76,036/- (2009 - Rs. 8,76,036/-).

3. Estimated amounts of contracts remaining to be executed on capital accounts and not provided for as on 31st March, 2010 - NIL (31-03-2008 - NIL).

2. Sales Tax authorities for the years 1989-90 and 1990-91 have raised a demand of Rs. 4,05,306/- and Rs. 4,58,427/- respectively under the Central Sales Tax Act and Rs. 1,38,445/- and Rs. 20,95.556/- under the Bombay Sales Tax Act. However no provisions has been made in respect of the above liabilities in the books of accounts of the company as the company has preferred appeals against the said assessments. Since the matter of previous years is under dispute the management has not provided any Sales Tax liability during the financial year 2006-07.

3. Income Tax assessments for the assessment years 92-93 and 93-94 were completed and the Income Tax Department has raised a demand of Rs. 4,49,528/- and Rs. 36.41.000/- respectively. However no provisions have been made in respect of the above liabilities in the books of accounts of the company as the company has preferred appeals against the above assessments.

4.(a) Previous years figures are regrouped and or recast wherever necessary.

(b) Figures in brackets are in respect of the previous year.

(c) Figures are rounded up to the nearest rupee. 3

5 MANAGERIAL REMUNERATION :

Managerial remuneration under section 198 of the Companies Act, 1 956 has been provided (on minimum basis) for the year ended 31st March, 2010 to the Managing Director and Whole Time Directors.

6 Provision for Income Tax for the current financial year has not been made in the Books of Accounts as the company does not expect tax liability to arise: during the current financial year (Previous year Rs. NIL).

7 During the year the company has received interest on Deposits amounting to Rs. NIL - (Previous Year Rs. NIL) and the Income Tax deducted thereon at_ source is Rs. NIL. (Previous Year Rs. NIL).

8 During the year the company has not proposed any dividend on its equity capital. (Previous Year NIL).

9 Signatures to Schedule 1 to 12 forms an integral part of accounts.