Mar 31, 2015
1. Rights attached to equity shares
The Company has only one class of equity shares having a face value of Rs.10 /- each. Each holder of equity share is entiltled to one vote per share. The company declares and pays dividends in Indian Rupees. The dividend proposed by the Board of Directors is subject to the approval of the shareholders in the ensuing Annual General Meeting.
In the event of liquidation of the company, the equity shareholders 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 by the shareholders.
2. Expired stocks of Raw Materials Written off to the extent of Rs. 37,90,000/- (P.Y 29,48,760/-) respectively
3.Deferred tax is not recognised as there is no reasonable certainty that sufficient future taxable income will be available against which such deffered tax assets can be realised.
4. Related Party disclosures
As per AS-18, the disclosures of transactions with the related parties are given below:
1. Key Management Personnel Mr.Suchit Mohan Lal, Managing Director Mr.Sushant Mohan Lal, Director
Mar 31, 2014
Mar 31, 2013
NOTE 1: Comparitive Figures of previous year have been regrouped / rearranged whereever necessary
Mar 31, 2010
1. CONTINGENT LIABILITIES:
a. Claims against the company not acknowledged as debts - NIL-
b. Estimated amount of contracts remaining to be executed on capital account and not provided for: -NIL-
c. Other Money due which the Company is contingently liable -Nil-
2. In terms of condition of prudence as set out in paragraphs 15 to 18 of AS-22. considering the history losses of the company, sufficient future taxable income cannot be estimated with virtual or reasonable certainty. The company therefore has not recognized net deferred tax asset in the financial statement for the year ended 31-03-10. Further in accordance with paragraph 19 of AS-22 the net deferred tax asset, if any, shall be re assed at the end of each balance sheet date hereafter and accordingly due recognition shall be given in the financial statement.
3. Value of imports calculated on CIF Basis -Nil-
4. Expenditure in Foreign Currency on account of royally Know how, professional and cousultaion fee, interest and other matters - Nil
5. Confirmation of balances in respect of Sundry Debtors, Sundry Creditors, Advances are in progress and is a continuous process.
6. The quantitve details for the operation of the year as required under part II of Schedule IV of the Companies Act, 1956 are given in the statement annexed.
7. Previous years figures have been re-grouped, where ever necessary to confirm to the current years presentation.
8. All figures have been rounded off to the nearest rupee.