Notes to Accounts of Otco International Ltd.

Mar 31, 2024

3.20 Provisions and contingencies

A provision is recognised when the Company has a present obligation as a result of past events and it is probable that an outflow of resources will be required to settle the obligation in respect of which a reliable estimate can be made. Provisions (excluding retirement benefits) are not discounted to their present value and are determined based on the best estimate required to settle the obligation at the balance sheet date. These are reviewed at each balance sheet date and adjusted to reflect the current best estimates. Contingent liabilities are disclosed in the Notes. Contingent assets are not recognised in the financial statements.

3.21 GST input credit

Service tax/GST input credit is accounted for in the books in the period in which the underlying service received is accounted and when there is reasonable certainty in availing / utilising the credits.

3.22 Operating Cycle

Based on the nature of products / activities of the Company and the normal time between acquisition of assets and their realisation in cash or cash equivalents, the Company has determined its operating cycle as 12 months for the purpose of classification of its assets and liabilities as current and non-current.

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Mar 31, 2014

Not Available.

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Mar 31, 2013

AS -1 Segmental Reporting

Segmental Reporting has not been prepared in relation to the Company as the Company has only one major segment of Credit Information.

AS - 2 Earnings Per Share

Basic & Diluted Earnings Per Share for the Year under audit is Nil (Previous Year Rs. 0.00/- Per Share) AS - 22 Taxes On Income

Deferred Tax Liability has been provided & shown separately under Non Current Liabilities.

3. Figures for the previous year have been regrouped and/or re-arranged wherever necessary and have been rounded-off to the nearest rupee.

4. Confirmation of balances from parties has not been received till date.

5. Sundry Creditors do not include any amount due to small Scale Industrial Undertakings as at 31st March 2013.

6. There are no whole time directors. Managerial Remuneration paid to the non-whole time directors by way of sitting fees for the year is Nil as the Directors have waived off the fees payable to them.

(Previous year NIL)

7. Expenditure in Foreign Currency : Marketing Expenses : Nil (Previous Year Rs. Nil/-)

Business Promotion Expenses: Nil (Previous Year: Rs. Nil/-)

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Mar 31, 2010

1. Figures for the previous year have been regrouped and/or re-arranged wherever necessary and have been rounded-off to the nearest rupee.

2. Confirmation of balances from parties has not been received till date.

3. Sundry Creditors do not include any amount due to small Scale Industrial Undertakings as at 31st March 2008.

4. There are no whole time directors. Managerial Remuneration paid to the non-whole time directors by way of sitting fees for the year is Nil as the Directors have waived off the fees payable to them.

(Previous yearRs. 15,000/-)

5. Expenditure in Foreign Currency : Marketing Expenses : Nil (Previous Year Rs. Nil/-) Business Promotion Expenses: NIL (Previous Year: Rs. Nil/-)

6. The Bank Accounts opened for the payment of Dividend has been converted into Unclaimed Dividend Account. The Unclaimed Dividend at the year end is:

Final Dividend (00-01) Rs. 6,290/- Interim Dividend (01-02) Rs. 9,870/- Final Dividend (01-02) Rs. 12,570/-

These amounts are proposed to be transferred during the Current Financial Year.