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Notes to Accounts of ACI Infocom Ltd.

Mar 31, 2015

1. CORPORATE INFORMATION

The Company has incorporated on 21/12/1982 and the company is in to Construction and Allied Activities business.

2.Terms & Right attached to equity shares

The company has only one class of equity shares having a par value of Rs.1/- per share. Each Holder of equity share is entitled to one vote per share. In the event of liquidation, shareholder will be entitled to receive remaining assets of the company after distribution of all preferential amount. The distribution will be in proportion to the member of equity share held by the share holder.

3. Contingent Liability- Demand of Rs 6,27,764 Interest under Custom Act 1962 relating to FY 1984- 85. The matter is pending before competent authority.

4. Balances are relied upon as per books of accounts wherever the confirmations from debtors/creditors/ Loans/Advances are not available

5. There is no availability of information about the amount dues to small/micro undertaking, we are unable to comment that the interest if any is due to such undertaking or not.

6. As certified by the Management there is no obligation in respect of gratuity and leave encashment during the year.

7. Auditor's Remuneration including service tax is Rs.84, 270/-. (Previous Year Rs.84, 270/-).

Statutory Audit Fees - Rs. 56,180 (Rs. 56,180)

Tax Audit Fees - Rs. 28,090 (Rs. 28,090)

8. The Company is required to appoint a whole time company secretary as per section 383A of the Companies Act, 1956. The Company is in the process of appointment of company secretary.

9.Expenditures & Earning in Foreign Currency- Nil

10. Segment Information-

The Company operates in a single business and geographical segment i.e. "Construction and Allied Activities" within India. Accordingly, no separate disclosures for primary business and secondary geographical segment are required as per AS 17 issued by ICAI

11. Previous year figures have been regrouped and rearranged wherever necessary to confirm with the current year presentation.


Mar 31, 2014

Corporate Information

The Company has incorporated on 21/12/1982 and the company is in to Construction and Allied Activities business.

1.1 Earnings per share

Basis earning per share are calculated by dividing the net profit or loss for the period attributable to equity shareholder by the weighted average number of equity share outstanding during the period.

For the purpose of calculating diluted earnings per share, the net profit or loss for the period attributable to equity shareholder and the weighted average number of shares outstanding during the period are adjusted for the effects of all dilutive equity shares.

1.2 Related Party Disclosure

A) Disclosure requirements as per Accounting Standard 18 (AS-18) "Related Party Disclosure" notified under Companies (Accounting Standard) Rules, 2006, (as amended) and relevant provisions of companies Act 1956,

Related Parties Nature of relationship

Pujya Guruwar Solar India Pvt Ltd Associates / Enterprises over which

(Formally known as Prog Dychem Pvt Ltd) directors and /Or their relatives has

Sanjog Developers significant influence

Shri Anand Kumar Jain (Managing Director)

Shri Nirmal Kumar Jain ( Director) Key Management Personnel

Shri Kushal Chand Jain ( Director)

Shri Hemantkumar S Jain (Additional director)

Note: Related party Relationships have been identified by the management and relied upon by the Auditors.

1.3 Contingent Liability- Demand of Rs 6,27,764 Interest under Custom Act 1962 relating to FY 1984-85. The matter is pending before competent authority.

1.4 Balances are relied upon as per books of accounts wherever the confirmations from debtors/ creditors/Loans/Advances are not available

1.5 There is no availability of information about the amount dues to small/micro undertaking, we are unable to comment that the interest if any is due to such undertaking or not.

1.6 As certified by the Management there is no obligation in respect of gratuity and leave encashment during the year.

1.7 Auditor''s Remuneration including service tax is Rs.84, 270/-. (Previous Year Rs.84, 270/-). Statutory Audit Fees - Rs. 56,180 (Rs. 56,180) Tax Audit Fees - Rs. 28,090 (Rs. 28,090)

1.8 The Company is required to appoint a whole time company secretary as per section 383A of the Companies Act, 1956. The Company is in the process of appointment of company secretary.

1.9 Expenditures & Earning in Foreign Currency- Nil

1.10 Segment Information-

The Company operates in a single business and geographical segment i.e. "Construction and Allied Activities" within India. Accordingly, no separate disclosures for primary business and secondary geographical segment are required as per AS 17 issued by ICAI

1.11 Previous year figures have been regrouped and rearranged wherever necessary to confirm with the current year presentation.


Mar 31, 2013

I. CORPORATE INFORMATION

The Company is mainly in to real estate business and also trade in I.T Products, Telecom Products and steel.

1. Earnings per share

Basis earning per share are calculated by dividing the net profit or loss for the period attributable to equity shareholder by the weighted average number of equity share outstanding during the period.

For the purpose of calculating diluted earnings per share, the net profit or loss for the period attributable to equity shareholder and the weighted average number of shares outstanding during the period are adjusted for the effects of all dilutive equity shares.

Note-During the year, equity shares of the company were sub divided from par value of Rs.10 to 10 equity shares of Rs.1 each resulting in total number of Equity shares increased to 11,04,90,900 equity shares of Rs. 1 each as on 25/01/2013. For better comparison 1, 10,49,0900 equity shares have been considered for both FY 2012-13 and FY 2011-12.

2. Related Party Disclosure

A) Disclosure requirements as per Accounting Standard 18 (AS-18) "Related Party Disclosure" notified under Companies (Accounting Standard) Rules, 2006, (as amended) and relevant provisions of companies Act 1956,

3 Contingent Liability- Demand of Rs 6,27,764 Interest under Custom Act 1962 relating to FY 1984-85. The company is in process of filing appeal against the order of demand.

4 Balances are relied upon as per books of accounts wherever the confirmations from debtors/ creditors/Loans/Advances are not available

5 As certified by the management, there are no dues outstanding to any Micro Small and Medium size Enterprises as at the end of the year.

6 As certified by the Management there is no obligation in respect of gratuity and leave encashment during the year.

7 Auditor''s Remuneration including service tax is Rs.84, 270/-. (Previous Year Rs.84,270/-). Statutory Audit Fees - Rs. 56,180 (Rs. 56,180)

Tax Audit Fees - Rs. 28,090 (Rs. 28,090)

8 The Company is required to appoint a whole time company secretary as per section 383A of the Companies Act, 1956. The Company is in the process of appointment of company secretary.


Mar 31, 2012

(a) Term & Right attached to equity shares

The company has only one class of equity shares having a par value of Rs.10/- per share. Each Holder of equity share is entitled to one vote per share. In the event of liquidation, shareholder will be entitled to receive remaining assets of the company after distribution of all preferential amount. The distribution will be in proportion to the member of equity share held by the share holder.

Margin money deposits of Rs 66,57,937/- (previous year 62,71,681/-) are subject to first charge to secure Letter of credit facility.

Margin money deposits of Rs 10,471/- (previous year 10,471/-) are subject to first charge to secure Bank Guarantee.

I. CORPORATE INFORMATION

Since many years the Company is trading in I T Products, Telecom and steel. It has also stepped into real estate business.

1. ' Earnings per share

Basis earning per share are calculated by dividing the net profit or loss for the period attributable to equity shareholder by the weighted average number of equity share outstanding during the period.

For the purpose of calculating diluted earnings per share, the net profit or loss for the period attributable to equity shareholder and the weighted average number of shares outstanding during the period are adjusted for the effects of all dilutive equity shares.

2 Contingent Liability-

Letters of credit issued by the bank on behalf of the company Rs.Lacs 598.87 (Previous year Rs. 388.49 Lacs)

The facility is secured by hypothecation of stock, mortgage of immovable property owned by director, personal guaranty of directors and 10 % by way of pledge of term deposit.

Guarantees given by the bankers of the company Rs.1 Lac (Previous year Rs.1 Lac).

3 Balances are relied upon as per books of accounts wherever the confirmations from debtors/ creditors/Loans/Advances are not available

4 As certified by the management, there are no dues outstanding to any Micro Small and Medium size Enterprises as at the end of the year.

5 As certified by the Management there is no obligation in respect of gratuity and leave encashment during the year. .

6 Auditor's Remuneration including service tax is Rs.84, 270/-. (Previous Year Rs.50000/-). Statutory Audit Fees - Rs. 56,180 (Rs. 25,000) Tax Audit Fees - Rs. 28,090 (Rs. 25,000)

7 The Company is required to appoint a whole time company secretary as per section 383A of the Companies Act, 1956. The Company is in the process of appointment of company secretary.

8 Expenditures & Earning in Foreign Currency

9 During the year ended 31st March, 2012, the revised schedule VI notified under The Companies Act, 1956 has become applicable to the Company, for presentation and preparation of its financial statement. The adoption of revised schedule VI does not impact recognition and measurement principles followed for preparation of financial statements. However, it has significant impacts on presentation and disclosure made in the financial statements. The Company has also reclassified the previous year figure in accordance with the requirements applicable in the current year.


Mar 31, 2010

1. Contingent liabilities not provided for in the accounts, as certified by the management.

a). Letters of credit issued by the banks on behalf of the company Rs.518.25 Lacs (Previous year Rs.557.13Lacs)

2. Balances are relied upon as per books wherever the confirmations from debtors/creditors are not available.

3. Interest is net off of interest received on Fixed Deposits kept with the bank against margin money towards letters of credit/ bank guarantee Rs. 43.48 lacs.(Previous year Rs.43.42 lacs).

5. As certified by the management, there are no dues outstanding to any Micro Small and Enterprises as at the end of the year.

6. Inventory has been valued by the company at cost or market values whichever is lower on the basis of Valuation Report prepared by a Chartered Engineer and the same has been accepted by the auditors in view of the technical nature of the products.

7. Cash Balance as at end of financial year has been verified ano certified by the management of the Company and the auditors has relied upon the same.

8. In the Opinion of the Board of Directors, the Current assets, loans & advances are stated at net realizable value.

9. Auditors Remuneration is towards Statutory Audit Fees of Rs.50,000/-.(Previous Year Rs. 100,00/-)

10. There was no employee who was in receipt of or was entitled to receive emoluments amounting to the aggregate of Rs.24 lakhs (Previous year of Rs.24 lakhs) or more per annum if employed throughout the year or Rs.2 lakhs or more per month if employed for part of the year.

11. Previous year figures have been regrouped/ rearranged wherever necessary.

 
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