1. CONTINGENT LIABILITIES :
[Rs. in croress]
This year Previous year
is] In respect of income-tax cases pending
at various stages of appeal with the
authorities - 20.24
The above matters are subject to legal proceedings in the ordinary
course of business. The legal proceeding when ultimately concluded will
not, in the opinion of management, have a material effect on the result
of operation or the financial position of Company.
2. Estimated amount of contracts remaining to be executed on capital
account & not provided for Rs. 56.37 crores [Previous year Rs. 145.35
croress].
3. The Comp. has also entered into operating lease agreements for
motor vehicles, dies & data processing machines. These lease
arrangements are cancellable in nature & range between two to four
years. The aggregate lease rentals under these arrangements amounting
to Rs. 11.47 crores [Previous year Rs. 12.15 croress] have been charged
under 'Lease rentals.'
4. As the Companys business activity falls within a single primary
business segment viz. 'Two wheelers & its parts' & is a single
geographical segment, the disclosure requirements of Accounting
Standard [AS-17s] 'Segment Reporting', issued by The Institute of
Chartered Accountants of India are not applicable.
