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Notes to Accounts of Akashdeep Metal Industries Ltd.

Mar 31, 2014

1. In the opinion of the management the current assets, loans and advances are approximately of the value stated if realized in the ordinary course of business. The provisions for all the known liabilities are adequate and not in excess of the amount considered reasonably necessary.

2. Previous year figures have been re-grouped or re-arranged wherever necessary.

3. Note 1 to 20 are annexed to and from an integral part of the Balance Sheet as at 31st March 2014 and Statement of Profit & Loss for the year ended as on that date.

Notes:

(1) Provisioning norms shall be applicable as prescribed in the Non-Banking Financial (Non-Deposit Accepting or holding) Companies Prudential Norms (Reserve Bank ) Direction, 2007.

(2) All Accounting Standards and Guidance Notes issued by ICAI are applicable including for valuation of investments and other assets acquired in satisfaction of debt. However, market value in respect of quoted investments and break up/fair value/NAV in respect of Unquoted investments should be disclosed irrespective of whether they are classified as long term or current (4) above.


Mar 31, 2013

1. In the opinion of the management the current assets, loans and advances are approximately of the value stated if realized in the ordinary course of business. The provisions for all the known liabilities are adequate and not in excess of the amount considered reasonably necessary.

2. Previous year figures have been re-grouped or re-arranged wherever necessary.


Mar 31, 2011

1. Related party disclosures as required by Accounting Standard-18 issued by the Institute of Chartered Accountants of India.

a) Parties where control exists

Mr. Surendra Kumar Jain along with his relatives.

b) Enterprises over which major shareholder or key management personnel along with his relatives exercises significant influence _

Asia Capital Limited

Deepak & Company

D.M. International Pvt. Ltd.

Transcend Electronics Pvt. Ltd.

Competent Electronics Pvt. Ltd.

Rose Electronics Pvt. Ltd.

Petal Electronics Pvt. Ltd.

Novelty Electricals Pvt. Ltd.

Sandal Auto Pvt. Ltd.

Posh Electronics Pvt. Ltd.

Shree Ganpati Educational Society (Regd.)

c) Key Management Personnel

Mr. Surendra Kumar Jain, Managing Director

Accounting policies & notes forming part of balance sheet as at 31st March 2011 Schedule "H"

d) Relatives of key Managerial personnel

Details of relatives of Mr. Surendra Kumar Jain

Mr. Deepak Kumar Jain Son

Mr. Manoj Kumar Jain Son

Mrs. Alka Jain Daughter

Mrs. Sangeeta Agarwal Daughter

Mr. Dinesh Kumar Jain Brother

Mr. Navneet Kumar Jain Brother

Mrs. Sulochna Jain Sister

Mrs. Sudha Jain Sister

2. Since the Company''s operations primarily comprise of investment and financing, as such there is no other reportable segment as specified by Accounting Standard-17 issued by Institute of Chartered Accountants of India.

3. The Company has not received any intimation from supplier regarding their status under Micro/Small & Medium Enterprises Development Act, 2006 and hence disclosure if any relating amount unpaid as at year end together with interest paid/payable as required under the Act have not been given.

4. Schedule "A" to "H" form as integral part of Balance Sheet, Profit and Loss Account and Cash Flow Statement.

 
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