Mar 31, 2015
1. In view of the number of employees being below the stipulated numbers, the Payment of Gratuity Act is not applicable to the company for the year. The same is the case with respect to payment of Bonus Act.
2. The useful life of Fixed Assets has been revised in accordance with Schedule II to the Companies Act 2013 which is applicable for accounting period commencing on or after 1st April 2014. Consequently a sum of Rs. 0.25 lac being the carrying amount net of residual value of fixed assets. In other case carrying amount has been depreciated over the remaining useful life of the assets and the effect on the profit is not material.
3. RELATED PARTY DISCLOSURES:
As per Accounting Standard 18, the disclosures are as under:
I List of related parties where control exists:
Details of Related Parties
Sr. No. Category Name of the Related Party/ Relationship
I Ultimate Holding Company: Mahshri Enterprises Pvt Ltd
Holding Company Aryaman Financial Services Ltd
Associates Companies Overskud Multi Assets Management Pvt Ltd
Nopea Capital Services Pvt Ltd Escorp Financial Services Pvt Ltd Vardhman Investment
Key Managerial Personnel : Shripal Shah
Key Managerial Personnel's -: Shrenik Shah (Father)
Relatives Roopa Shah (Mother)
Meloni Shah (Wife)