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Notes to Accounts of Alka India Ltd.

Sep 30, 2014

(a) Terms/ rights attached to equity shares

The company has only one class of equity shares having par value of 1 per share. Each holder of equity shares is entitled to one vote per share.

In the event of liquidation of the company, the holders of equity shares will be entitled to receive remaining assets of the company, after distribution of all preferential amounts. The distribution will be in proportion to the number of equity shares held.

1. Background

Basis of the preparations of financial statements are prepared accordance with "GAAP "under the historical cost conversion on the accrual basis. In accordance with the requirements of the Companies Act, 1956, accounting policies not referred to otherwise are consistent with generally accepted accounting principles and the provisions of the Companies Act, 1956.

2. Basis of Preparation

The financial statements of the company have been prepared in accordance with generally accepted accounting principles in India (Indian GAAP). The company has prepared these financial statements to comply in all material respects with the accounting standards notified under the Companies (Accounting Standards) Rules, 2006, (as amended) and the relevant provisions of the Companies Act, 1956. The financial statements have been prepared on an accrual basis and under the historical cost convention.

The accounting policies adopted in the preparation of financial statements are consistent with those of previous year, except for the change in accounting policy explained below.

3. Balances in respect of certain sundry debtors, sundry creditors, investments and loans and advances are taken as shown by the books of account and are subject to confirmation and consequent adjustments and reconciliation, if any.

4. As per Management opinion Current assets, loans and advances have a value on realization which in the ordinary course of the business would not be less than the amount at which they are stated in the balance sheet and the provisions for all known and determined liabilities are adequate and not in excess of the amount reasonably required.

5. Details of dues to micro and small enterprises as defined under the MSMED Act, 2006

There are no micro, small and medium enterprises, to which the Company owes dues, which are outstanding for more than 45 days as at September 30, 2014. This information as required to be disclosed under the Micro, Small and Medium Enterprises Development Act, 2006 has been determined to the extent such parties have been identified on the basis of information available with the Company.

6. Figures in brackets represent those of the previous year.

7. Figures for the previous year have been regrouped / amended wherever necessary.


Sep 30, 2013

1.1 Balances in respect of certain sundry debtors, sundry creditors, investments and loans and advances are taken as shown by the books of account and are subject to confirmation and consequent adjustments and reconciliation, if any.

1.2 As per Management opinion Current assets, loans and advances have a value on realization which in the ordinary course of the business would not be less than the amount at which they are stated in the balance sheet and the provisions for all known and determined liabilities are adequate and not in excess of the amount reasonably required.

1.3 Details of dues to micro and small enterprises as defined under the MSMED Act, 2006

There are no micro, small and medium enterprises, to which the Company owes dues, which are outstanding for more than 45 days as at March 31, 2013. This information as required to be disclosed under the Micro, Small and Medium Enterprises Development Act, 2006 has been determined to the extent such parties have been identified on the basis of information avail- able with the Company.

1.4 3.30 As per the information and explanation given by the management, the company has shown Rs. 50,00,000/- as Long term Loans and Advances –doubtful, the said amount was paid under case no RC-25(A)-2011 recoverable.

1.5 Figures in brackets represent those of the previous year.

1.6 Figures for the previous year have been regrouped / amended wherever necessary.


Sep 30, 2012

* Aggregate Book Value of Unquoted Investments : Rs. 19,45,75,000/- previous Year Rs. 19,75,75,000/- )

* Aggregate Book Value of quoted Investments : Rs. 12,19,90,963/- (Previous Year Rs. 14,95,18,328 /- )

* Aggregate Market Value of quoted Investments :5,25,48,048/- (Previous Year Rs. 90,11,3673/- )

Current investments are carried in the financial statements at cost and Long-term investments are also carried at cost. However, provision for diminution in value is not recognize other than temporary in the value of the investments. On disposal of an investment, the difference between its carrying amount and net disposal proceeds is charged or credited to the statement of profit and loss.

1. Background

Basis of the preparations of financial statements are prepared accordance with "GAAP "under the historical cost conversion on the accrual basis. In accordance with the requirements of the Companies Act, 1956. Accounting policies not referred to otherwise are consistent with generally accepted accounting principles and the provisions of the Companies Act, 1956.

2. Basis of Preparation

The financial statements of the company have been prepared in accordance with generally accepted accounting principles in India (Indian GAAP). The company has prepared these financial statements to comply in all material respects with the accounting standards notified under the Companies (Accounting Standards) Rules, 2006, (as amended) and the relevant provisions of the Companies Act, 1956. The financial statements have been prepared on an accrual basis and under the historical cost convention.

The accounting policies adopted in the preparation of financial statements are consistent with those of previous year, except for the change in accounting policy explained below.

3.1 Balances in respect of certain sundry debtors, sundry creditors and loans and advances are taken as shown by the books of account and are subject to confirmation and consequent adjustments and reconciliation, if any.

3.2 As per Management opinion Current assets, loans and advances have a value on realization which in the ordinary course of the business would not be less than the amount at which they are stated in the balance sheet and the provisions for all known and determined liabilities are adequate and not in excess of the amount reasonably required.

3.3 Details of dues to micro and small enterprises as defined under the MSMED Act, 2006

There are no micro, small and medium enterprises, to which the Company owes dues, which are outstanding for more than 45 days as at March 31, 2012. This information as required to be disclosed under the Micro, Small and Medium Enterprises Development Act, 2006 has been determined to the extent such parties have been identified on the basis of information available with the Company.

3.4 Figures in brackets represent those of the previous year.

3.5 Figures for the previous year have been regrouped / amended wherever necessary.


Sep 30, 2011

1. RELATED PARTIES:

Disclosures as required by Accounting Standard (AS) -18 "Related Party Transaction" issued by the Institute of Chartered Accountants of India are as follows:

2. Inventories are as per taken, valued and certified by the management.

3. In the opinion of the management and to the best of their knowledge and belief, the value on realization of loans, advances and other current assets in the ordinary course of business will not be less than the amount at which they are stated in the Balance Sheet.

4. The Company operates in single business segment, i.e. Textile comprising cotton, yam, fabrics etc.

5. DEFERRED TAX LIABILITIES

Deferred tax on timing differences between taxable and accounting income is accounted for, using the tax rates and the tax laws enacted or substantially enacted as on the balance sheet date. Deferred tax assets on unabsorbed tax losses and unabsorbed depreciation are recognized only when there is a virtual certainty of their realization. Other items are recognized only when there is a reasonable certainty of their realization.

The Company has adopted Accounting Standard-22 on "Accounting for Taxes on Income" issued by the Institute of Chartered accountants of India. Consequently, the Company has recorded deferred tax liability/Assets in respect of timing differences on account of Depreciation as on 30th September 2011 and the net effects of the same has been given in the Profit & Loss Account and Balance Sheet as on 30th September 2011.

6. Foreign currency transactions

Foreign currency transactions are recorded at exchange rates prevailing on the date of respective transactions.

Current assets and current liabilities in foreign currencies existing at balance sheet date are translated at year-end rates.

Foreign currency translation differences related to acquisition of imported fixed assets, if any are f* adjusted in the carrying amount of the related fixed assets. All other foreign currency gains and losses are recognized in the profit and loss account.

7. Provision and contingent liabilities

Provisions are recognized when the Company has present legal or constructive obligation, a result of past events, for which it is probable that an outflow of economic benefits will be required to settle the obligation and a reliable estimate can be made for the amount of the obligation. Contingent liabilities, if any, are disclosed by way of notes to the Balance Sheet

8. Balances in respect of certain sundry debtors, sundry creditors and loans and advances are taken as shown by the books of account and are subject to confirmation and consequent adjustments and reconciliation, if any.

9. The Company did not have any transactions with Small Scale Industrial ('SME's') Undertakings during the year ended March 31, 2010 and hence there are no amounts due to such undertakings. The identification of SME's undertakings is based on the management's knowledge of their status.

The Company has not received any information from "suppliers" regarding their status under the Micro, Small and Medium Enterprises Development Act, 2006 and hence disclosures, if any, relating to amount unpaid as at the year end together with interest paid / payable as required under the said Act have not been furnished.

10. Figures in brackets represent those of the previous year.

11. As per the information and explanation given by the management, During the company has paid cash Rs. 50,00,000/- to Mr. Rajesh Ranjan and Mr.Ashwin Kumar under case Number RC 25(A) - 2011, as the said person cheated to company Same has been shown under the head Advances (Refundable).

12. As per the information and explanation given by the management, the Board has passed a resolution for cancellation of the dividend, the provision for proposed dividend which is appearing in the books may be written back and the amount of Rs. 3.75 crores credited to profit and loss account, company has also written back the provision for dividend distribution tax on purposed dividend (v and such amount Rs. 48.05 lacks credited in the profit and loss account.

13. Pending the confirmation from BSE of the record date for deciding the entitlement of shares to shareholders of the transferor company, i.e., Janice Textiles Limited, formal allotment in terms of Clause No. 11, of the scheme of Amalgamation sanctioned by the hon'ble High Courts, has not been made, as a result that of the value of the shares to be allotted to the shareholders of the transferor company has been disclosed separately under the head "Transferor Company's Shareholders Fund".

14. Additional information pursuant to Part "1" of Schedule "VI" of the Companies Act 1956

(a) Value of imports calculated on CIF basis on capital account is NIL.

(b) Expenditure in foreign currency (on payment basis)

Note: The Proxy and the Power of Attorney (if any) under which it is signed or a notarially copy of that Power of Attorney must be deposited at the Registered Office of the Company at E-211, Crystal Plaza, Opp. Fame adlabs, New Link Road, Andheri (W), Mumbai - 400053, Maharashtra, not less than 48 hours before the date for holding the Annual General Meeting.

I hereby record my presence at the Eighteenth Annual General Meeting of the Company being held at Wednesday the 14th March, 2012 at 9.30 a.m. at Kailash Parbat, K.P Restaurants, 7A/8A ,7VWing, Crystal Plaza, New Link Road, Andheri (West), Mumbai 400053.


Sep 30, 2010

1. RELATED PARTIES:

Disclosures as required by Accounting Standard (AS) -18 "Related Party Transaction" issued by the Institute of Chartered Accountants of India are as follows:

Nature of the Related Party Description of Relationship

(A) Related Parties where control exists NIL

(B) Related Parties where control exists NIL

2. Inventories are as per taken, valued and certified by the management.

3. In the opinion of the management and to the best of their knowledge and belief, the value on realization of loans, advances and other current assets in the ordinary course of business will not be less than the amount at which they are stated in the Balance Sheet.

4. The Company operates in single business segment, i.e. Textile comprising cotton, yarn, fabrics etc.

5. DEFERRED TAX LIABILITIES

Deferred tax on timing differences between taxable and accounting income is accounted for, using the tax rates and the tax laws enacted or substantially enacted as on the balance sheet date. Deferred tax assets on unabsorbed tax losses and unabsorbed depreciation are recognized only when there is a virtual certainty of their realization. Other items are recognized only when there is a reasonable certainty of their realization.

The Company has adopted Accounting Standard-22 on "Accounting for Taxes on Income" issued by the Institute of Chartered accountants of India. Consequently, the Company has recorded deferred tax liability/Assets in respect of timing differences on account of Depreciation as on 30th September 2010 and the net effects of the same has been given in the Profit & Loss Account and Balance Sheet as on 30th September 2010.

6. Foreign currency transactions

Foreign currency transactions are recorded at exchange rates prevailing on the date of respective transactions.

Current assets and current liabilities in foreign currencies existing at balance sheet date are translated at year-end rates.

Foreign currency translation differences related to acquisition of imported fixed assets, if any are adjusted in the carrying amount of the related fixed assets. All other foreign currency gains and losses are recognized in the profit and loss account.

7. Provision and contingent liabilities

Provisions are recognized when the Company has present legal or constructive obligation, a result of past events, for which it is probable that an outflow of economic benefits will be required to settle the obligation and a reliable estimate can be made for the amount of the obligation. Contingent liabilities, if any, are disclosed by way of notes to the Balance Sheet

8. Balances in respect of certain sundry debtors, sundry creditors and loans and advances are taken as shown by the books of account and are subject to confirmation and consequent adjustments and reconciliation, if any.

9. The Company did not have any transactions with Small Scale Industrial (SMEs) Undertakings during the year ended 30th September, 2010 and hence there are no amounts due to such undertakings. The identification of SMEs undertakings is based on the managements knowledge of their status.

The Company has not received any information from "suppliers" regarding their status under the Micro, Small and Medium Enterprises Development Act, 2006 and hence disclosures, if any, relating to amount unpaid as at the year end together with interest paid / payable as required under the said Act have not been furnished.

10. Figures in brackets represent those of the previous year.

11. Previous year figures has been re-grouped & re-arranged wherever necessary

12. Pending the confirmation from BSE of the record date for deciding the entitlement of shares to shareholders of the transferor company, i.e., Janice Textiles Limited, formal allotment in terms of Clause No. 11, of the scheme of Amalgamation sanctioned by the honble High Courts, has not been made, as a result that of the value of the shares to be allotted to the shareholders of the transferor company has been disclosed separately under the head "Transferor Companys Shareholders Fund".


Sep 30, 2009

1. RELATED PARTIES:

Disclosures as required by Accounting Standard (AS) -18 "Related Party Transaction" issued by the Institute of Chartered Accountants of India are as follows:

Name of the Related Party Description of Relationship

(A) Related Parties where control exists NIL

(B) Related Parties where control exists NIL

2 Inventories are as per taken, valued and certified by the management.

3. In the opinion of the management and to the best of their knowledge and belief, the value on realization of loans, advances and other current assets in the ordinary course of business will not be less than the amount at which they are stated in the Balance Sheet.

4. The Company operates in single business segment, i.e. Textile comprising cotton, yarn, fabrics etc.

5. Earnings Per Share as computed in accordance with Accounting Std. 20 for the year ended 30th September 2009:

6. DEFERRED TAX LIABILITY.

The Company has adopted Accounting Standard-22 on "Accounting for Taxes on Income* issued by the Institute of Chartered accountants of India. Consequently, the Company has recorded deferred tax 1 lability/Assets in respect of timing differences on account of Depreciation as on 30th September 2009 and the net effects of the same has been given in the Profit & Loss Account and Balance Sheet as on 30th September 2009.

7. CURRENT TAX: LIABILITY.

Considering the eligible deductions under Inco me Tax- Act, and Loss during the year, the provision for taxation has been made in the books of accounts.

8. Previous year figures has been re-grouped & re-arranged wherever necessary

9. Balances of sundry debtors and sundry creditors are subject to confirmation.

10 Pending the confirmation from BSE of the record date for deciding the entitlement of shares to shareholders of the transferor company, i.e., Janice Textiles Limited, formal allotment in terms of Clause No. 1 1, of the scheme of Amalgamation sanctioned by the honble High Courts, has not been made, as a result that of the value of the shares to be allotted to the shareholders of the transferor company has been disclosed separately under the head "Transferor Companys Shareholders Fund".

 
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