Mar 31, 2015
1.1 Micro, Small & Medium Enterprises disclosure
The company has not received any intimation from 'suppliers' regarding
their status under the Micro, Small and Medium Enter- prises
Development Act, 2006 and hence disclosure requirement in this regards
as per Revised Schedule VI of the Companies Act, 1956
As per records of the company, including its register of shareholders /
members and other declarations received from shareholders regarding
beneficial interest, the above shareholding represents both legal and
beneficial owenership of shares.
2.1 Rights, Preferences and restrictions attached to Equity shares
The company has one class of equity shares having a par value of Rs,
10/- per share. Each shareholder is eligible for one vote per share
held. The dividend proposed by the Board of Directors is subject to the
approval of the shareholders in the ensuing Annual General Meeting,
except in case of interim dividend. In the event of liquidation, the
equity shareholders are eligible to receive the remaining assets of the
Company after distribution of all preferential amounts, in proportion
to their shareholding.
3.1 Reconciliation of the shares outstanding at the beginning and at
the end of the reporting year
Mar 31, 2014
1) Rights. Preferences and restrictions attached to Equity shares
The company has one class of equity shares having a par value of Rs
10/- per share. Each shareholder is eligible for one vote per share
held. The dividend proposed by the Board of Directors is subject to the
approval of the shareholders in the ensuing Annual General Meeting,
except in case of interim dividend. In the event of liquidation, the
equity shareholders are eligible to receive the remaining assets of the
Company after distribution of all preferential amounts, in proportion
to their shareholding.
2) No provision has been made in the books on account of gratuity or
Leave benefits as on 31st March, 2014 as required by Accounting
Standard 15 ''Employee Benefits''.
3) Amount due from Director at the year-end is Rs Nil/-
(Previous Year Rs 40,233)
Mar 31, 2013
1. Rights, Preferences and restrictions attached to Equity shares
The company has one class of equity shares having a par value of'' 10/-
per share. Each shareholder is eligible for one vote per share held.
The dividend proposed by the Board of Directors is subject to the
approval of the shareholders in the ensuing Annual General Meeting,
except in case of interim dividend. In the event of liquidation, the
equity shareholders are eligible to receive the remaining assets of the
Company after distribution of all preferential amounts, in proportion
to their shareholding.
2. Micro, Small & Medium Enterprises disclosure
The company has not received any intimation from ''suppliers'' regarding
their status under the Micro, Small and Medium Enter- prises
Development Act, 2006 and hence disclosure requirement in this regards
as per Revised Schedule VI of the Companies Act, 1956
1) Total outstanding dues to small scale Industrial undertakings as on
31st March, 2013 Rs NIL (Previous Year Rs.Nil).
2) Contingent Liabilities 2012-2013 2011-2012
Counter guarantees in respect Rs 5,000/- Rs.5,000/-
of bank Guarantees issued
3) Balance of Creditors, Unsecured Loans and Advances to body
corporate are subject to confirmation and Reconciliation.
4) In the opinion of the Management, the Current Assets, Loans and
Advances are valued at the amount which can be realized in the ordinary
course of business.
5) Balance with brokers is subject to confirmations and
reconciliations.
6) The value of closing stock of shares is as certified by the
Management.
7) Details of Research & Development Costs:
Expenditure on Research and Development activities as certified by the
Management is Rs. Nil. (Including Capital Expenditure Rs. Nil)
8) No Provision of income tax has been made in the accounts, in view
of the brought forward losses of the earlier years. Further, no
Minimum Alternate Tax (MAT) under the provisions of Section 115JB of
the Income Tax Act, 1961 is payable in view of unabsorbed book
depreciation of earlier years.
9) In Accordance with the Accounting Standard 22 "Accounting for Taxes
on Income" issued by the Institute of Chartered Accountants of India,
the Company has not accounted for deferred tax asset during the period
as in the opinion of-the Management there is no reasonable certainty of
any future taxable profits arising.
10) Previous year''s figures have been regrouped /reclassified wherever
necessary to with current year''s figures.
11) Related party disclosure
a) Relationship:
Key Managerial Persons and their relatives
i) Soketu Parikh - Director
ii) Asmita Parikh - Director
ii) Jay Parikh - Realtive of Director
Entity under common control
i) Concord Capital Pvt. Ltd.
12) Amount due from Director at the year-end is Rs 40,233/-
Mar 31, 2012
1) Total outstanding dues to small scale Industrial undertakings as on
31st March, 2012 Rs NIL (Previous Year Rs.Nil).
2) Contingent Liabilities 2011-2012 2010-2011
Counter guarantees in respect Rs 5,000/- Rs.5,000/-
of bank Guarantees issued
3) Balance of Creditors, Unsecured Loans and Advances to body
corporate are subject to confirmation and Reconciliation.
4) In the opinion of the Management, the Current Assets, Loans and
Advances are valued at the amount which can be realized in the
ordinary course of business.
5) Details of Research & Development Costs:
Expenditure on Research and Development activities as certified by
the Management is Rs. Nil.(Including Capital Expenditure Rs. Nil)
6) No Provision of income tax has been made in the accounts, in view
of loss.
7) In Accordance with the Accounting Standard 22 ÂAccounting for
Taxes on Income issued by the Institute of Chartered Accountants
of India, the Company has not accounted for deferred tax asset
during the period as in the opinion of the Management there is no
reasonable certainty of any future taxable profits arising.
8) Previous yearÂs figures have been regrouped /reclassified wherever
necessary to with current year''s figures.
9) Related party disclosure
a) Relationship:
Key Managerial Persons and their relatives
i) Soketu J Parikh
ii) Jay Parikh
Enterprises in which relatives of directors are interested
i) Concord Capital Pvt. Ltd.
10) SEGMENT REPORTING
During the year the company is operating only in one segment i.e.
share trading activity. Therefore, segment reporting as specified by
Accounting Standard 17 on Segment Reporting issued by the
Institute of Chartered Accountants of India is not given.
11) During the year ended 31st March, 2012, the Revised Schedule VI
notified under the Companies Act 1956, has become applicable to
the Company for preparation and presentation of financial
statements; hence financial statements have been prepared as per the
notified Schedule VI. This has significantly impacted the disclosure
and presentation made in the Financial Statements. Previous years
figures have been regrouped & reclassified wherever necessary to
correspond with the current yearÂs classification/disclosure.