Mar 31, 2016
Unsecured Loans Taken : NIL Amount Outstanding at year end : 53,58,717/Previous Year Balance : 53,58,717/
2. a) Harsh Jain - Additional Director
b) Nature of Transaction of Related Party
Unsecured Loans Taken : NIL Repayment of Loans Taken : 75,00,000/Amount Outstanding at year end : NIL Previous Year Balance : 75,00,000/Remuneration For the year : 3,75,000/Reimbursement of Foreign Travel Exp. : 2,65,243/Outstanding payables
At year end : NIL
Previous year balance : 4,80,000/-
3) The Company operates in one segment and others hence no separate disclosure of segment-wise information has been made as per Accounting Standards (AS-17) Segment Reporting issued by the Institute of Chartered Accountants of India.
4) Balances of Sundry Debtors, Sundry Creditors and Loans and Advances are subject to confirmation and reconciliation. None of the confirmations were in the hands of the Company.
Mar 31, 2015
1) In the opinion of the management, the current assets, loans and
advances have the values on realization in the ordinary course of
business at least equal to the amounts at which they are stated in the
balance sheet except the trade receivables and loans and advances which
falls under management's policy for bad and doubtful debts as taken in
the previous years.
2) All debit and credit balances are subject to confirmation and
reconciliation.
3) There are no dues to Micro, Small & Medium Enterprises as at Balance
Sheet date and no interest has been paid to any such parties. This is
based on the information on such parties having been identified on the
basis of information available with the Company and relied upon by the
auditors.
4) Earnings Per Share (EPS) The following reflects the profit and share
data used in the basic and diluted EPS Computations:
5) As stated in earlier years annual reports, the Farm and Hatchery
land together with the structures and ancillary assets/material stocks
on the land including moveable assets related to farm division which
was mortgaged with the consortium banks, was disposed off by the banks
in the financial year 2005-06 and 2006-07 respectively by holding
auction sale under the Securitization and Reconstruction of Financial
Assets and Enforcement of Security Interest Act, 2002. Besides the sale
of above moveable and immoveable assets, banks also auctioned the
agricultural land kept as collateral security by one of the promoters
with the lending banks at the time of disbursement of loan. Since there
was neither any feedback nor any intimation by the banks regarding the
ratio in which they distributed amongst themselves the said realized
amount, it is apportioned between the consortium banks in proportion to
the various loans outstanding and provided in the books till the date
of recalling of advances by individual banks. On sale of said
properties including moveable assets during the year by the banks under
the Securitization and Reconstruction of Financial Assets and
Enforcement of Security Interest Act, 2002, the amount against said
facilities and loans has been categorized as unsecured loans.
6) Cash Credit, Packing Credit and demand working capital loan from
banks were secured by hypothecation of stock and book debts and term
loan from banks were secured by pari-passu charge on all the immoveable
properties of the company and hypothecation of moveable assets. On
sale of said properties including moveable assets by the banks under
the Securitization and Reconstruction of Financial Assets and
Enforcement of Security Interest Act, 2002, the amount against said
facilities and loans has been categorized as unsecured loans of the
accounts.
7) In Compliance with Accounting Standard - 22 "Accounting for Taxes on
Income" issued by The Institute of Chartered Accountants of India, the
deferred tax assets/liabilities (net) accruing during the current year
Rs. 9,843/- (Previous period Rs. 2,378/-) has been shown in the
statement of Profit & Loss. Deferred Tax Assets/ Liability are
calculated at the end of Financial Year as per Companies Act, 2013.
8) The Company operates in one segment and others hence no separate
disclosure of segment-wise information has been made as per Accounting
Standards (AS-17) Segment Reporting issued by the Institute of
Chartered Accountants of India.
9) Balances of Sundry Debtors, Sundry Creditors and Loans and Advances
are subject to confirmation and reconciliation. None of the
confirmations were in the hands of the Company.
The accompanying notes are an integral part of the financial statements
Mar 31, 2014
1) In the opinion of the management, the current assets, loans and
advances have the values on realization in the ordinary course of
business at least equal to the amounts at which they are stated in the
balance sheet except the trade receivables and loans and advances which
falls under management''s policy for bad and doubtful debts as taken in
the previous years
31st March, 2014 31st March, 2013
(Rs.) (Rs.)
2) Contingent Liabilities and
commitments (to the extent not
provided for)
Contingent Liabilities
(a) Claims against the company not
acknowledged as debt NIL NIL
(b) Legal suits and claims filed
against the company NIL NIL
3) Debit and Credit balances are subject to confirmation and
reconciliation.
4) There are no dues to Micro, Small & Medium Enterprises as at Balance
Sheet date and no interest has been paid to any such parties. This is
based on the information on such parties having been identified on the
basis of information available with the Company and relied upon by the
auditors.
5) As stated in earlier years annual reports, the Farm and Hatchery
land together with the structures and ancillary assets/material stocks
on the land including moveable assets related to farm division which
was mortgaged with the consortium banks, was disposed off by the banks
in the financial year 2005-06 and 2006- 07 respectively by holding
auction sale under the Securitization and Reconstruction of Financial
Assets and Enforcement of Security Interest Act, 2002. Besides the sale
of above moveable and immoveable assets, banks also auctioned the
agricultural land kept as collateral security by one of the promoters
with the lending banks at the time of disbursement of loan. Since there
was neither any feedback nor any intimation by the banks regarding the
ratio in which they distributed amongst themselves the said realized
amount, it is apportioned between the consortium banks in proportion to
the various loans outstanding and provided in the books till the date
of recalling of advances by individual banks. On sale of said
properties including moveable assets during the year by the banks under
the Securitization and Reconstruction of Financial Assets and
Enforcement of Security Interest Act, 2002, the amount against said
facilities and loans has been categorized as unsecured loans.
6) Cash Credit, Packing Credit and demand working capital loan from
banks were secured by hypothecation of stock and book debts and term
loan from banks were secured by pari-passu charge on all the immoveable
properties of the company and hypothecation of moveable assets. On sale
of said properties including moveable assets by the banks under the
Securitization and Reconstruction of Financial Assets and Enforcement
of Security Interest Act, 2002, the amount against said facilities and
loans has been categorized as unsecured loans of the accounts.
7) Inter-Corporate deposits was borrowed by the company for which
promoter had pledged their shares.
8) In Compliance with Accounting Standard - 22 "Accounting for taxes on
income" issued by The Institute of Chartered Accountants of India, the
deferred tax assets/liabilities (net) accruing during the current year
Rs. 2,378/- (Previous period Rs. 1,302) has been shown in the statement
of Profit & Loss. Deferred Tax Assets are calculated at the end of
Financial Year as per Companies Act, 1956.
9) In view of the revision to the Schedule VI as per notification
issued by the Central Government, the financial statement for the year
ended 31st March, 2013 have been prepared as per the requirement of the
Revised Schedule VI to the Companies Act, 1956. The previous years
figures have been accordingly regrouped/classified to confirm to the
year''s classification.
Mar 31, 2013
1) In the opinion of the management, the current assets, loans and
advances have the values on realization in the ordinary course of
business at least equal to the amounts at which they are stated in the
balance sheet except the trade receivables and loans and advances which
falls under management''s policy for bad and doubtful debts as taken in
the previous years.
31st March, 2013 31st March, 2012
(Rs.) (Rs.)
2) Contingent Liabilities and
commitments (to the extent not
provided for) Contingent
Liabilities
(a) Claims against the company
not acknowledged as debt NIL NIL
(b) Legal suits and claims
filed against the company NIL NIL
3) Debit and Credit balances are subject to confirmation and
reconciliation.
4) There are no dues to Micro, Small & Medium Enterprises as at Balance
Sheet date and no interest has been paid to any such parties. This is
based on the information on such parties having been identified on the
basis of information available with the Company and relied upon by the
auditors.
5) As stated in earlier years annual reports, the Farm and Hatchery
land together with the structures and ancillary assets/material stocks
on the land including moveable assets related to farm division which
was mortgaged with the consortium banks, was disposed off by the banks
in the financial year 2005-06 and 2006-07 respectively by holding
auction sale under the Securitization and Reconstruction of Financial
Assets and Enforcement of Security Interest Act, 2002. Besides the sale
of above moveable and immoveable assets, banks also auctioned the
agricultural land kept as collateral security by one of the promoters
with the lending banks at the time of disbursement of loan. Since there
was neither any feedback nor any intimation by the banks regarding the
ratio in which they distributed amongst themselves the said realized
amount, it is apportioned between the consortium banks in proportion to
the various loans outstanding and provided in the books till the date
of recalling of advances by individual banks. On sale of said
properties including moveable assets during the year by the banks under
the Securitization and Reconstruction of Financial Assets and
Enforcement of Security Interest Act, 2002, the amount against said
facilities and loans has been categorized as unsecured loans.
6) Cash Credit, Packing Credit and demand working capital loan from
banks were secured by hypothecation of stock and book debts and term
loan from banks were secured by pari-passu charge on all the immoveable
properties of the company and hypothecation of moveable assets. On sale
of said properties including moveable assets by the banks under the
Securitization and Reconstruction of Financial Assets and Enforcement
of Security Interest Act, 2002, the amount against said facilities and
loans has been categorized as unsecured loans of the accounts.
7) Inter-Corporate deposits was borrowed by the company for which
promoter had pledged their shares.
8) In Compliance with Accounting Standard - 22 "Accounting for taxes on
income" issued by The Institute of Chartered Accountants of India, the
deferred tax assets/liabilities (net) accruing during the current year''
1302/- (Previous period * Nil) has been shown in the statement of
Profit & Loss. Deferred Tax Assets are calculated at the end of
Financial Year as per Companies Act, 1956.
9) Related Parties Disclosures
a) List of related party with whom transactions have taken place and
relationships
1) Mr. Shantanu Sheorey - Director
10) The Company operates in one segment and others hence no separate
disclosure of segment-wise information has been made as per Accounting
Standards (AS-17) Segment Reporting issued by the Institute of
Chartered Accountants of India.
11) In view of the revision to the Schedule VI as per notification
issued by the Central Government, the financial statement for the year
ended 31 st March, 2013 have been prepared as per the requirement of
the Revised Schedule VI to the Companies Act, 1956. The previous years
figures have been accordingly regrouped/classified to confirm to the
year''s classification.
The accompanying notes are an integral pan of the financial
statements
Mar 31, 2012
1. LONG TERM BORROWINGS
a) As stated in earlier years annual reports, the Farm and Hatchery
land together with the structures and ancillary assets/material stocks
on the land including moveable assets related to farm division, which
was mortgaged with the consortium banks, was disposed off by the banks
in the financial year 2005-06 and 2006-07 respectively by holding
auction sale under the Securitisation and Reconstruction of Financial
Assets and Enforcement of Security Interest Act, 2002. Besides the sale
of above moveable and immoveable assets, banks also auctioned the
agricultural land kept as collateral security by one of the promoters
with the lending banks at the time of disbursement of loan. Since there
was neither any feedback nor any intimation by the banks regarding the
ratio in which they distributed amongst themselves the said realised
amount, it is apportioned between the consortium banks in proportion to
the various loans outstanding and provided in the books till the date
of recalling of advances by individual banks. On sale of said
properties including moveable assets during the year by the banks under
the Securitisation and Reconstruction of Financial Assets and
Enforcement of Security Interest Act, 2002, the amount against said
facilities and loans has been catogarised as unsecured loan
2. SHORT TERM BORROWINGS
a) Cash Credit, Packing Credit and Demand working capital loan from
banks were secured by hypothecation of stocks and book debts and Term
loan from banks were secured by pari- passu charge on all the
immoveable properties of the Company and hypothecation of moveable
assets. On sale of said properties including moveable assets by the
banks under the Securitisation and Reconstruction of Financial Assets
and Enforcement of Security Interest Act, 2002, the amount against said
facilities and loans has been catogarised as unsecured loan in the
accounts.
b) Inter-corporate deposit was borrowed by the company for which
promoters had pledged their shares.
3. The office of the Company Secretary has been vacant since
May'1997, in the circumstances; authentication by Company Secretary
does not appear in the Accounts.
4. As per the information available, there are no outstanding dues to
Small Scale Industrial Undertaking.
Note:
As consortium banks disposed off the production units and the related
properties/ancillary assets, no disclosure is made under above heads.
5. As there are no operational activities carried by the Company,
Accounting Standard 17 - "Segment Reporting" issued by the Institute of
Chartered Accountants of India, does not apply.
6. RELATED PARTY DISCLOSURES
a) List of related party with whom transactions have taken place and
relationships
1. Mr. Shantanu Sheorey - Director
7. Unsecured loans, Creditors balances, advances are subject to
confirmation from the parties.
8. The financial statements for the year ended 31st March 2011 had
been prepared as per the then applicable, pre-revised Schedule VI to
the Companies Act 1956. Consequent to the notifications of Revised
Schedule VI under the Companies Act, 1956, the financial statements for
the year ended 31st March, 2012 are prepared as per Revised Schedule
VI. Accordingly, the previous year figures have also been reclassified
to conform to this year's classification. This has significantly
impacted the presentations and disclosures made in the financial
statements, particularly the presentation of balance sheet.
Mar 31, 2010
1) Contingent Liabilities not provided for in respect of
As at As at
31st March 2010 31st March 2009
i) Disputed demands
from MESB towards
electricity Charges 5,27,122.11 5,27,122,11
ii) Damages u/s 14B E EPE
on delayed payment
of provident fund dues 1,28,528/- 1,28,528/-
iii) Amount of interest liability
penalty if any
on delayed non payments of
certain creditors
loans statutory dues and penal
interest liquidated
damages on secured unsecured
borrowings. Amount presently
Unascertainable
2. Unsecured loans sundry debtors, creditors balances loans and deposits
are subject to confirmation form the parties.
3. Interest on terms loan and other facilities banks/Institution is
provident up to the date of recalling of advances by them. Due to
paucity of funds and operation being suspended there is a delay in
payment of interest on other advances short term loans and hence
interest actually paid is accounted.
4. As stated in earlier years annual reports. the farm and Hatchery
land together with the structure and ancillary assets material stocks
on the land including moveable assets related to farm division, which
was mortgaged with the consortium banks, was disposed off by the banks
in the financial year 2005-06 and 2006-07 respectively by holding
auction sale under the securities and reconstruction of financial
assets and enforcement of security interest Act, 2002. Besides the sale
of above moveable and immoveable assets, banks also auctioned the
agricultural land kept as collateral security by one of the promoters
with the lending banks at the time of disbursement of loan. Since there
was neither any feedback nor any intimation by the banks regarding the
ratio in which they distributed amongst themselves the said realised
amount, it is appointment between the consortium banks in proportion
to the various loans outstanding and provided in the books till the
date of recalling of advances by individual banks.
5. Cash credit packing credit and demand working capital loan from
banks were secured by hypothecation of stocks and books debts and Term
loan from banks were secured by pair passu charge on all the
immoveable. Properties of the company at Nandgaon and mired and
hypothecation of moveable assets at those locations On scale of said
properties including moveable assets during the year by the banks under
the securtisation and Reconstruction of Financial Assets and
Enforcements of Security interest Act, 2002 the amount against said
facilities and loans has been shown as unsecured loan in the accounts.
6. Fixed assets includes Pumb Motors costing Rs. 2.38 lakhs and stocks
representing PVC pipes confiscated by group gram panchayet- Nandgaon
against non-payment of property Tax.
7. No provisions for income Tax has been made for the financial year
2008-2009 in view of set off available in respect of unabsorbed loss /
depreciation under the income Tax
8. The office of the company secretary has been vacant since may
1997, in the circumstance authencation by company secretary does not
appear in the account.
9. As per the information available there are no outstanding dues to
small scale industrial undertaking
10. As there are no operational activities carried by the company
accounting standard 17 segment reporting issued by the institute of
chartered accounts of India does not apply.
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