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Notes to Accounts of Atishay Ltd.

Mar 31, 2016

D. NOTES TO ACCOUNTS

1. The financial statements including financial information have been prepared after making such regroupings and adjustments, considered appropriate to comply with the same. As result of these regroupings and adjustments, the amount reported in the financial statements /information may not necessarily be same as those appearing in the respective audited financial statements for the relevant years.

2. Employee benefits:

The Company has adopted the Accounting Standard 15 (revised 2005) on Employee Benefit. The company has taken “Group Gratuity Scheme of LIC” by creating a “trust" in which benefits are defined as per such policy. The total amount of contribution paid and recognized as expense for the year is Rs. 5,00,000/-.

3. Segment Reporting(AS17)

The Company has more than one business Segment during the year within the meaning of accounting standard -17, which differ from each other in risk and reward. The details of such business segments are provided vide Annexure -1

4. Provisions, Contingent Liabilities and Contingent Assets (AS 29)

Contingent liabilities and commitments (to the extent not provided for).

There are no contingent liabilities as on March 31,2016 except as mentioned below-

5. Related Party Disclosure (AS 18)

Related party transactions are being reported as per AS-18 of Companies (Accounting Standards) Rules, 2006,asamended, hereunder.


Mar 31, 2015

1. 16,16,267 Shares were alloted as Bonus Shares in the Last Five Years by way of Capitalisation of Free Reserves and Surplus in Year 2013-14.

2. 4,68,160 Shares were alloted as Bonus Shares in the Last Five Years by way of Capitalisation of Free Reserves and Surplus in Year 2012-13.

3. 23,20,000 Shares were alloted as public issue.

4. The provision fore gratuity expenses upto 31/03/2014 was made and a sum of Rs. 1892872/- was reduced from general reserve.

5. The variation in depreciation has been occurred upto 31/03/2014 and same was adjusted through general reserve. The amount so adjusted is Rs. 8324015/- and Rs. 3606893/-.

6. Interest on taxes upto 31/03/2014 have been re-classified under finance cost and charged against general reserve for a sum of Rs.861430/-.

7. Profit adjustment on sale of investment has been made in general reserve for Rs. 117873/-.

8. Adjustment of deffered tax has been made upto 31/03/2014 on account of change in profits, due to depreciation and gratuity expenses.

9. Provision of income tax having effect as per restated balance sheet has been accounted for through general reserve . However provision for wealth tax has been amended on the basis of recomputation of wealth as per Wealth Tax Act 1957 and the total amount of net taxable wealth includes plots and cars and the liability of wealth tax provided for the year is Rs.52,260/-

10. Adavance received against sale of property was forfeited due to no n fullfilment of terms and conditions of the agreement in F.Y. and amount so forfeited was reduced from the cost of assets in the books in that year now reverse to "Capital Reserve".

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