Output Explorer

GTL
(a) Other Contingent Liabilities :
CURRENT
PREVIOUS
YEAR
YEAR
Rupees
Rupees
Disputed demands of employees/ex-employees
70,93,504
64,27,302
ii)
Land Revenue & other Taxes
20,42,071
2,46,47,029
Services/materials suppliers and other business related disputed claims
5,16,45,063
4,95,47,859
(b) The holding Company has received notices from certain States in USA with regard to requisite deposit in the Escrow account
against cigarettes sold in those States. However, as per an expert legal opinion obtained, the Company is not liable for such
deposits.
4)
Estimated amount of Contracts remaining to be executed on Capital Account in holding Company and not provided for (Net of
Advances) Rs. 12,58,138 (Previous Year Rs.19,23,440)
5
(a) The holding Company has given undertakings to the Financial Institutions that it will not, without their prior approval, transfer,
assign, dispose off, pledge, charge or create any lien or in any way encumber its share holdings in Raigadh Papers Limited
ill the loans granted by the Financial Institutions to the said company remain outstanding.
(b) The Company in past had approached the Hon'ble High Court of Mumbai against winding up of Raigadh Papers Limited to
revive/recover old dues of Rs. 135.68 lacs appearing as doubtful advances in Schedule 'J' hereof. During the year the Hon'ble
High Court has passed the order in favour of the Company under the scheme of arrangement which is still pending with the
official liquidator.
6)
Land & Buildings and Plant & Machinery of the holding Company were revalued as on 30" June, 1980, 30* June, 1984, 30* June,
1986 (only Land and Buildings), 30" June, 1988 and 31s March, 1993. The total increase as a result of these revaluations were
transferred to Revaluation Reserve in the respective years. All the above stated revaluations were carried out by an external approved
valuer on the basis of market / replacement value of similar assets, using standard indices and after considering the obsolescence
and age of individual assets. The revalued amounts, net of withdrawals, of Rs.67,89,29,516 for Land & Buildings and Rs.67,88,03,607
for Plant & Machinery (Previous Year Rs.67,89,29,516 and Rs.67,88,03,607, respectively) remain substituted for the historical costs
in the gross block of Fixed Assets (Schedule 'E').
7)
Exceptional Items of holding Company include :
CURRENT
PREVIOUS
YEAR
YEAR
Rupees
Rupees
Liabilities in respect of principal amount of loans and interest
thereon no longer payable written back on their negotiated settlements
15,44,01,003
1,22,51,352
Liabilities in respect of Luxury Tax Written Back :
Under Amnesty Scheme
1,58,39,988
In terms of Supreme Court Judgement
Refer Note hereinbelow)
5,65, 18,000
Total
22,67,58,991
1,22,51,352
Less : Expenses :
Old Sundry Debtors and Loans & Advances Written Off (Net)
16,57,60,865
Liability for increase in the value of third party
securities under settlement
4, 12, 16,502
Net
6,09,98, 126
2,89,65, 150)
Relying on the judgment dated 20th January, 2005 of the Hon'ble Supreme Court (Godfrey Phillips India Lid. V/s State of U.P.)
in which the levy of luxury tax on tobacco and tobacco products was struck down as violative of Articles 14 and 301 of the
Constitution, the outstanding liability in the Books of Account of the Company relating to the earlier years amounting to Rs.5,65, 18,000
has been written back as no longer payable and shown under Exceptional items.
B)
Advances recoverable in cash or in kind or for value to be received - considered good include Interest accrued on Investments
Other Current Assets) Rs. 49,765 (Previous Year Rs. 65,294)
(E
Balances of certain Debtors, Creditors, Banks / Lenders and Loans & Advances are subject to confirmations, reconciliations, and
adjustments, if any, having consequential impact on the profit for the year, assets and liabilities, the amounts whereof are presently
not ascertainable
10) No provision has been made in the holding Company accounts in respect of estimated total liability for future payment of gratuity
of Rs. 8,55,68,941 including for the current year Rs. 44,96,703 (Previous Year Rs. 8,10,72,238 and Rs. 57,85,988 respectively)
determined on the basis of actuarial valuation, as the holding Company's practice is to account for the same as and when due
for payment.
53.
Source: https://www.industrydocuments.ucsf.edu/docs/gsgj0223

Answer the question using only the OCR text from a single document page. Return only the answer, with no explanation. Preserve the answer wording from the OCR text when possible.