Mar 31, 2015
Particulars As at 31 March, 2015 As at 31 March, 2014
Rs. Rs.
1. Contingent liabilities and commitments
(to the extent not provided for)
(i) Contingent liabilities
(a) claims against the Company not
acknowledges as debt - -
(b) Guarantees - -
(c) O'her money for which the Company
is contingently liable (give details) - -
(ii) Commitments
(a) Esimated amount of contracts remaining
to be executed on capital account
and not provided for
Tangible assets - -
Intangible assets - -
(b) Uncalled liability on shares and other
investments partly paid - 5,000,000
(c) Other commitments (specify nature) - -
- 5,000,000
Note 2. Details on unhedged foreign currency exposures
The year-end foreign currency exposures that have not been hedged by a
derivative instrument or otherwise are given below:
Note : 3. Employee benefit plans
Note: 4. a Defined contribution Plans
The Company makes Provident Fund and Superannuation Fund contributions
to defined contribution plans for qualifying employees. Under the
Schemes, the Company is required to contribute a specified percentage
of the payroll costs to fund the benefits. The Company recognised Rs.
93,150/- (Year ended 31 March, 2014 Rs. 74,342/-) for Provident Fund
contributions and Rs. 01- (Year ended 31 March, 2014 Rs. 28,125/-) for
Superannuation Fund contributions in the Statement of Profit and Loss.
The contributions payable to these plans by the Company are at rates
specified in the rules of the schemes.
Note: 5. Defined benefit Plans
The Company offers the following employee benefit schemes to its
employees:
i. Gratuity
The following table sets out the funded status of the defined benefit
schemes and the amount recognised in the financial statements:
Note: 6.
The Company has identified business segments as its primary segment,
and there is no secondary segment. Business segments are primarly
Garments Manufacturing and Investment in Realty & Securities, Revennues
and expenses directly attributable to segment are reported under each
reportable segment. Expenses which are not directly identifiable to
each reportable segment have been allocated on the basis of associated
revenues of the segment and manpower efforts. All other expenses which
are not attributable or allcable to segments have been disclosed as
unallocable expenses. Assets and liabilities that are directly
attributable or allocable to segments are disclosed under
eachreportable segment. All other assetsand liabilities are disclosed
as unallocable. Fixed assets that are used interchangeably amongst
segments are not allocated to primary and secondary segments.
Note 7. Other Notes
(I) Amount of Rs. 14,06,383/- receivable from an overseas party Is
classified as unsecured but considered good, the Company has filed a
suit in Court outside India.
Note 8. Previous year's figures
Previous year's figures have been regrouped / reclassified wherever
necessary to correspond with the current year's classification /
disclosure.
Mar 31, 2014
Particulars As at 31 March, 2014 As at 31 March, 2013
Rs. Rs.
Note 1 Contingent liabilities and commitments
(to the extent not provided for)
(i) Contingent liabilities
(a) claims against the Company - -
not acknowledges as debt
(b) Guarantees - -
(c) Other money for which the
Company is contingently liable
(give details)
(ii) Commitments - -
(a) Estimated amount of contracts - -
remaining to be executed on
capital account and not provided
for
Tangible assets Intangible assets - -
(b) Uncalled liability on shares 5,000,000 5,000,000
and other investments partly paid
(c) Other commitments (specify - -
nature)
5,000,000 5,000,000
Note 2 Defined contribution Plans
The Company makes Provident Fund and Superannuation Fund contributions
to defined contribution plans for qualifying employees. Under the
Schemes, the Company is required to contribute a specified percentage
of the payroll costs to fund the benefits. The Company recognised Rs.
74,342/- (Year ended 31 March, 2013 Rs. 56,370/-) for Provident Fund
contributions and Rs. 28,125/- (Year ended 31 March, 2013 Rs. 26,931/-)
for Superannuation Fund contributions in the Statement of Profit and
Loss. The contributions payable to these plans by the Company are at
rates specified in the rules of the schemes.
Note 3 Segment information
The Company has identified business segments as its primary segment,
and there is no secondary segment. Business segments are primarly
Garments Manufacturing and Investment in Realty & Securities ,
revennues and expenses directly attributable to segment are reported
under each reportable segment. Expenses which are not directly
identifiable to each reportable segment have been allocated on the
basis of associated revenues of the segment and manpower efforts. All
other expenses which are not attributable or allcable to segments have
been disclosed as unallocable expenses. Assets and liabilities that are
directly attributable or allocable to segments are disclosed under each
reportable segment. All other assets and liabilities are disclosed as
unallocable. Fixed assets that are used interchangeably amongst
segments are not allocated to primary and secondary segments.
Note 4 Other Notes
(I) Amount of Rs. 14,06,383/- receivable from an overseas party is
classified as unsecured but considered good, the Company has filed a
suit in Court outside India.
Note 5 Previous year''s figures
Previous year''s figures have been regrouped / reclassified wherever
necessary to correspond with the current year''s classification /
disclosure.
Mar 31, 2013
Note : 1.1 Employee benefit plans Note : 24.10a Defined contribution
Plans
The Company makes Provident Fund and Superannuation Fund contributions
to defined contribution plans for qualifying employees. Under the
Schemes, the Company is required to contribute a specified percentage
of the payroll costs to fund the benefits. The Company recognised Rs.
56,370/- (Year ended 31 March, 2012 Rs. 65,827/-) for Provident Fund
contributions and Rs. 26,931/- (Year ended 31 March, 2012 Rs. 37,488/-)
for Superannuation Fund contributions in the Statement of Profit and
Loss. The contributions payable to these plans by the Company are at
rates specified in the rules of the schemes.
Note: 1.2 Defined benefit Plans
The Company offers the following employee benefit schemes to its
employees:
i. Gratuity
The following table sets out the funded status of the defined benefit
schemes and the amount recognised in the financial statements:
Note 1.3 Segment Information
The Company has identified business segments as its primary segment,
and there is no secondary segment. Business segments are primarty
Garments Manufacturing and Investment in Realty & Securities ,
revennues and expenses directly attributable to segment are reported
under each reportable segment. Expenses which are not directly
identifiable to each reportable segment have been allocated on the
basis of associated revenuesof the segment and manpower efforts. All
other expenses which are not attributable or allcable to segments have
been disclosed as unallocable expenses. Assets and liabilities that are
directly attributable or allocable to segments are disclosed under
eachreportable segment. All other assetsand liabilities are disclosed
as unallocable. Fixed assets that are used interchangeably amongst
segments are not allocated to primary andsecondary segments.
The Company has recognised deferred tax asset on unabsorbed
depreciation to the extent of the corresponding deferred tax liability
on the difference between the book balance and the written down value
of fixed assets under Income Tax (or) The Company has recognised
deferred tax asset on unabsorbed depreciation and brought forward
business losses based on the Management''s estimates of future profits
considering the non-cancellable customer orders received by the
Company.
Note 2 Other Notes
(I) Amount of Rs. 14,06,383/- receivable from an overseas party is
classified as unsecured but considered good, the Company has filed a
suit in Court outside India.
Note 3 Previous year''s figures
Previous year''s figures have been regrouped / reclassified wherever
necessary to correspond with the current year''s classification /
disclosure.
Mar 31, 2012
Note: 1.1 Employes benefit plans Note: 24.10a Peflned contribution
Plana
The Company makes Provident Fund and Superannuation Fund contributions
to defined contribution plans for qualifying emptoyess. Under the
Schemes, the Company is required to contribute a specified percentage
of the payroll costs to fund the benefits. The Company recognised Rs.
65,827/- (Year ended 31 March, 2011 Rs. 67,968/-) for Provident Fund
contributions and Rs. 37,488/- (Year ended 31 March, 2011 Rs. 28,076/-)
for Superannuation Fund contributions in the Statement of Profit and
Loss. The contributions payable to these plans by the Company are at
rates specified in the rules of the schemes. Note: 24.10b Peffned
benefit Plan*
The Company offers the following employee benefit schemes to its
employees:
i. Gratuity
The following table sets out the funded status of the defined benefit
schemes and the amount recognised
Note 1.2 Segment information
The Company has identified business segments as its primary segment,
and there is no secondary segment Business segments are primarty
Garments Manufacturing and Investment in Realty & Securities ,
revennues and expenses directly attributable to segment are reported
under each reportable segment. Expenses which are not directly
identifiable to each reportable segment have been allocated on the
basis of associated revenuesof the segment and manpower efforts. AN
omer expenses which are not attributable or allcable to segments have
been disclosed as unallocable expenses. Assets and liabilities that are
directly attributable or allocable to segments are disclosed under
eachreportaWe segment At otter assetsand liabilities are disclosed as
unallocable. Fixed assets that are used interchangeably amongst
segments are not allocated to primary andsecondary segments.
The Company has recognised deferred tax asset on unabsorbed
depreciation to the extent of the corresponding deferred tax liability
on the difference between the book balance and the written down value
of fixed assets under Income Tax (or) The Company has recognised
deferred tax asset on unabsorbed depreciation and brought forward
business losses based on the Management's estimates of future profits
considering the non-cancellable customer orders received by the
Company.
Note 3 Other Notes "
(I) Rental income from one of the parties are not recorded, Since the
Company is in dispute and is before the Court
(II) Amount of Rs. 61,67,874.15 receivable from an overseas party is
written off as bad debts and for which have closed the GR against those
invoices.
(iii) Amount of Rs. 14,06,383/- receivable from an overseas party is
classified as unsecured but considered goods the Company has filled a
suit
Note 4 Previous year's figures
The revised Schedule V has become effective from 1 April, 2011 for the
preparation of financial statements. This has significantly impacted
the disclosure and presentation made in the financial statements.
Previous year's figures have been regrouped / reclassified wherever
necessary to Corresporl with the current year's dassification /
discioeer.
Mar 31, 2010
(1) Details of Licenced & Installed Capacity, Production Stocks &
Turnover
(2) Related Party Disclosure
(3) Deferred Tax
Deferred tax is recognised subject to the condition prudence in respect
of deferred tax assets on timing differences being the differences
between the taxable income and the accounting income that originate in
one period and are capable of reversal in one or more subsequent
period. The classification of Deferred Tax Asset
(4) Segment Information for the year ended 31.03.2010
The Company is in the business of exports of Garments and Renting of
Properties.
5) Basic & diluted earning per share has been calculated by dividing
net profit available for appropriations for th< year by 33,50,000
Equity Shares of Nominal Value of Rs. 10/- each.
6) Unpaid overdue amount due on 31.03.2010 to small scale and/or
ancillary Industrial supplies on account o principal amount is NIL
(Previous Year Rs. Nil). This disclosure is based on the information
available with the Company regarding status of the suppliers as defined
under the "Interest on delayed payments to Small Scak and Ancillary
Industrial Undertakings Act, 1993."
7) Contingent Liabilities as on 31.03.2010
a) Liabilities in respect of bills discounted with Bank Rs. 78,52,709/
(Previous Year Rs. 2,49,70,000/-)
b) Claims against the Company not acknowledge as debt: Rs. Nil
(Previous Year Rs. Nil)
c) Estimated amount of contracts remaining to be executed on Capital
Account and not provided for Rs Nil (Previous Year Rs. Nil)
d) Guarantees and Counter guarantees issued by the company Rs. Nil
(Previous Year Rs. Nil)
8) Computation of profit u/s 349 of the Companies Act, 1956 is not
done since no commission is paid to th< Managing Director.
9) Previous year figures have been regrouped wherever necessary.