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Notes to Accounts of Alfa Ica (India) Ltd.

Mar 31, 2015

Note 1:

Related Party Transactions

a) Related Parties and their Relationship:

Name of Related Party Relationship

Tikmani Corporation Associate Concern

Rajendra Enterprise Associate Concern

Rishi Tikmani Key Management Personnel

Rajendra Tikmani Key Management Personnel

Pooja Tikmani Key Management Personnel

Vimlaji Tikmani Relative of Key Mgt.Personnel

Anuja Tikmani Relative of Key Mgt.Personnel

Note 2:

Contingent Liabilities

Particulars Year ended Year ended 31.03.2015 31.03.2014

Demand of Income Tax Raised by the authorities 904,509 904,509 disputed and not acknowledged as due

Total 904,509 904,509

Note 3:

Segment Reporting :

Since the company has only one segment, there is no separate reportable segment as required in AS-17 issued by the ICAI.

Note 4:

The company had not received any intimation from suppliers regarding their status under the Micro, Small & Medium Enterprise Act, 2006, and hence disclosures, if any, relating to amounts unpaid as the year end together with interest paid of payable as required under said Act, have not been given.

Note 5:

In the opinion of the Board, the Current Assets, Loans and Advances are approximately of the value stated, if realized, in the ordinary course of business. Provision for all known liabilities is adequate and not in excess of the amount reasonably necessary.

Note 6:

Previous year figures have been regrouped/reclassified to confirm with current year disclosures.


Mar 31, 2014

1. All secured loans are secured by hypothecation of all present and future goods, book debts and other movable assets and equitable mortgage of immovable properties & personal guarantee of promoter Directors.

2. Segment Reporting :

Since the company has only one segment, there is no separate reportable segment as required in AS-17 issued by the ICAI.

3. The company had not received any intimation from suppliers regarding their status under the Micro, Small & Medium Enterprise Act, 2006, and hence disclosures, if any, relating to amounts unpaid as the year end together with interest paid of payable as required under said Act, have not been given.

4. In the opinion of the Board, the Current Assets, Loans and Advances are approximately of the value stated, if realized, in the ordinary course of business. Provision for all known liabilities is adequate and not in excess of the amount reasonably necessary.

5. Contingent Liabilities:

There is no contingent liability as informed by the Management.

6. Previous year figures have been regrouped/reclassified to confirm with current year disclosures.


Mar 31, 2013

1. Segment Reporting :

Since the company has only one segment, there is no separate reportable segment as required in AS-17 issued by the ICAI.

2. The company had not received any intimation from suppliers regarding their status under the Micro, Small & Medium Enterprise Act, 2006, and hence disclosures, if any, relating to amounts unpaid as the year end together with interest paid of payable as required under said Act, have not been given.

3. In the opinion of the Board, the Current Assets, Loans and Advances are approximately of the value stated, if realized, in the ordinary course of business. Provision for all known liabilities is adequate and not in excess of the amount reasonably necessary.

4. Contingent Liabilities:

There is no contingent liability as informed by the Management.

5. The Company is yet to appoint a qualified Company Secretary as required by Section 383A of the Companies'' Act, 1956. Pending the appointment of a qualified Company Secretary the services of practicing Company Secretary are being availed for due compliance of the Law.

6. Previous year figures have been regrouped/reclassified to confirm with current year disclosures.


Mar 31, 2012

1. Segment Reporting :

Since the company has only one segment, there is no separate reportable segment as required in AS-17 issued by the ICAI.

2. Since the business of the company is by way of Food and Beverages, the quantity wise details of purchase, consumption, turnover, stock etc. are not furnished as the items are so large in number that it is not practicable to present.

3. The company had not received any intimation from suppliers regarding their status under the Micro, Small & Medium Enterprise Act, 2006; and hence disclosures, if any, relating to amounts unpaid as the' year end together with interest paid of payable as required under said Act, have not been given.

4. In the opinion of the Board, the Current Assets, Loans and Advances are approximately of the value stated, if realized, in the ordinary course of business. Provision for all known liabilities is adequate and not in excess of the amount reasonably necessary.

5. Contingent Liabilities:

There is no contingent liability as informed by the Management.

6. The Company is yet to appoint a qualified Company Secretary as required by Section 383A of the Companies' Act, 1956. Pending the appointment of a qualified Company Secretary the services of practicing Company Secretary are being availed for due compliance of the Law.

7. As notified by Ministry of Corporate Affairs, Revised Schedule VI under the Companies Act, 1956 is applicable to the financial Statement for the financial year commencing on or after 1st April,2011. Accordingly, the financial statement for the year ended 31st March 2012 is prepared in accordance with the revised schedule VI. The amount and disclosures included in the financial statement of the previous year have been reclassified to conform to the requirement - of revised schedule VI.


Mar 31, 2011

1. Share Capital:

40,000 Redeemable Preference Shares issued by the Company have been redeemed in accordance with Provisions of Section 80 / 80A of the Companies' Act, 1956 during the year. Balance redeemable preference shares can be redeemed at any time before 29.08.2013.

2. Unsecured Loans:

The Company has to maintain the unsecured loans in terms of stipulations of State Bank of India which granted loans to the company.

3. Segment Reporting:

The Company is operating in single segment of Manufacturing Laminated Sheets in single geographical segment of India.

4. Contingent Liabilities:

There is no contingent liability as informed by the Management.

5. The company had not received any intimation from "suppliers" regarding their status under the Micro, Small & Medium Enterprise Act, 2006, and hence disclosures, if any, relating to amounts unpaid as at the year end together with interest paid or payable as required under said act, have not been given.

6. The Company is yet to appoint a qualified Company Secretary as required by Section 383A of the Companies' Act, 1956. Pending the appointment of a qualified Company Secretary the services of practicing Company Secretary are being availed for due compliance of the law.

7. 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.

8. Previous year's figures have been regrouped and/or rearranged wherever necessary.

9. Additional information pursuant to the provision of Part II of schedule VI of the Company Act ,1956


Mar 31, 2010

1. Share Capital:

65,000 Redeemable Preference Shares issued by the Company have been redeemed in accordance with Provisions of Section 80 / 80A of the Companies Act, 1956 during the year. Balance redeemable preference shares can be redeemed at any time before 29.08.2013.

2. Unsecured Loans:

The Company has to maintain the unsecured loans in terms of stipulations of State Bank of India which granted loans to the Company.

3. Segment Reporting:

The Company is operating in single segment of Manufacturing Laminated Sheets in single geographical segment of India.

4. Contingent Liabilities:

There is no contingent liability as informed by the Management.

5. The company had not received any intimation from "suppliers" regarding their status under the Micro, Small & Medium Enterprise Act, 2006, and hence disclosures, if any, relating to amounts unpaid as at the year end together with interest paid or payable as required under said act, have not been given.

6. Deferred Tax

As per Accounting Standard - 22 on Accounting for taxes on income issued by the Institute of Chartered Accountants of India, the company has accounted for deferred tax during the year.

7. Related Party Disclosures :

(A) Related Parties and Their Relationship (a) Associate Parties

i. Amrut Goyal Developers Pvt.Ltd.

ii. Chow Chpon Alfa Ltd.

iii. Tikmani Corporation

iv. Rajendra Enterprise

(b) Key Management Personnel

i. Rishi Tikmani ii. Rajendra Tikmani

(c) Relatives of Key Management Personnel

: i. Pooja Tikmani ii. Vimla Tikmani iii. Rajendra Tikmani (HUF)

8. The Company is yet to appoint a qualified Company Secretary as required by Section 383A of the Companies Act, 1956. Pending the appointment of a qualified Company Secretary the services of practicing Company Secretary are being availed for due compliance of the law.

In the opinion of the Management, the Current Assets, Loans and Advances are approximately of the value stated, if realised in the ordinary course of business.

9. Previous years figures have been regrouped and/or rearranged wherever necessary.

 
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