Mar 31, 2015
1. Contingent liability in respect of disputed Income Tax Demand of Rs.
2039963.00 for A.Y. 2011-12 (Previous Year Rs. 2039963.00)
2. No provision has been made in respecty of gratuity payable as no
employee has yet put In qualifying period of service for entitlement of
the benefits.
3. Taxation Current Tax:
No provision for Income Tax (Current Tax) is made in the current year
in view of the computation of income resulting in a loss in accordance
with the provision of the Income Tax Act, 1961, and further, there is
no "book profit", as envisaged in Section 115JB of the Income Tax Act
because of brought forward losses as per books or account
Deferred Tax:
The Company has unabsorbed depreciation and carried forward losses
available for set-off under the Income Tax Act, 1961. However, in view
of present uncertainty regarding generation of sufficient future
taxable income, net deferred tax assets at the year end including
related credit / debit for the year have not been recognized In these
accounts on prudent basis.
4. The Company has mainly one reportable business and geographical
segment and hence no further disclosure is required under Accounting
Standard (AS)17 on Segment Reporting issued by the Institute of
Chartered Accountants
5. There was no balance due to Micro and Small Enterprises as defined
under the MSMED Act, 2006. Further no interest during the year has been
paid or payable under the terms of MSMED Act, 2006.
6. There are no derivative instruments either for hedging or for
speculation outstanding as at 31st March 2015.
7. There are no long term contracts as on 31st March, 2015 for which
there are any material foreseeable losses.
8. Balances in parties accounts are subject to confirmation /
reconciliation. Appropriate adjustments, If any, will be made as and
when the balances are reconciled.
9. Any of the assets other than fixed assets and non current
investments have the value on realization in the ordinary course of
business equal to the amount at which they are stated, subject to
amounts not realized on full and final settlement / disposal.
10. There are no amounts due and outstanding to be credited to Investor
Education and Protection Fund.
11. in view of Accounting Standard 28 on Impairment of Assets issued by
the Institute of Chartered Accountants of India, the Company has
reviewed its fixed assets and does not expect any loss as on 31st March
2015 on account of impairment.
12. Depreciation of Rs. 191 on account of assets whose useful life is
already exhausted on April 01, 2014 has been adjusted against Retained
earnings pursuant to adoption of estimated useful life of fixed assets
as stipulated by Schedule II of Companies Act, 2013.
13. Related Party Disclosures
Party disclosures as required by Accounting Standard 18
"Related Party Disclosures"
A. List of Related Parties (As identified by the Management)
(i) Key Management Personnel:
Mr. Vijay Kumar Jain
(ii) Individuals having control or significant over the company by
reason of voting power, and their relatives:
Mrs. Kiran Devi Jain
Mr. Vijay Kumar Jain
Mrs. Chandrakala Jain
Mr. Niraj Jain
Mr. Santosh Kumar Jain
Nirmal Kumar Jain (HUF) (Hi) Entities over which control is exercised
by individuals listed in (ii) above
Dhanlaxml Resources (P) Ltd
M.Nirmal Kumar (P) Ltd
P.S. Synthetics (P) Ltd
Jain Holdings (P) Ltd
Mod Mind Consultancy (P) Ltd
Saraogi Holdinds (P) Ltd
Trident India Ltd
Big Shop
14. prior year comparatives
Previous year's figures have been regrouped/reclassified wherever
necessary to correspond with the current year's classification /
disclosure.
Mar 31, 2014
1. Terms/rights attached to equity shares
The Company has only one class of equity shares having a par value of
Rs. 10 per share. Each holder of equity shares is entitled to one vote
per share. The Company declares and pays dividends in Indian Rupees.
The dividend, if any, 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 holders of equity
shares will be entitled to receive remaining assets of the company,
after distribution of all preferential amounts, if any. The
distribution will be in proportion to the number of equity shares held
by the shareholders.
2. Contingent liability in respect of disputed Income Tax Demand Rs.
2039963.00 for A.Y. 2011-12 (Previous year Rs. 2039963.00)
3. The Company does not have any employee and hence the provisions of
the Payment of Gratuity Act 1972 are not applicable.
4. Taxation
Current Tax:
No provision for Income Tax (Current Tax) is made in the current year
in view of the computation of income resulting in a loss in accordance
with the provision of the Income Tax Act, 1961, and further, there is
no "book profit", as envisaged in section 115JB of the Income Tax Act
because of brought forward losses as per books or account.
Deferred Tax:
The Company has unabsorbed depreciation and carried forward losses
available for set-off under the Income Tax Act, 1961. However, in view
of present uncertainty regarding generation of sufficient future
taxable Income, net deferred tax assets at the year end Including
related credit / debit for the year have not been recognized in these
accounts on prudent basis.
5. As the Company is not carrying any operations, there are no
reportable segments, as required by AS- 17 Segment Reporting''.
6. There was no balance due to Micro and Small Enterprises as defined
under the MSMED Act, 2006. Further no interest during the year has been
paid or payable under the terms of MSMED Act, 2006.
7. Debts over six months amounting to Rs. 6318.30 (Previous year Rs.
6318.30) are long overdue but in the opinion of the management, they
are fully recoverable and the same hove been classified as good.
8. Balances In parties accounts are subject to confirmation /
reconciliation. Appropriate adjustments, If any, will be made as and
when the balances are reconciled.
9. Any of the assets other than fixed assets and non current
investments have the value on realisation in the ordinary course of
business equal to the amount at which they are stated, subject to
amounts not realised on full and final settlement / disposal.
10. There are no amounts due and outstanding to be credited to
Investor Education and Protection Fund.
11. In view of Accounting Standard 28 on Impairment of Assets issued
by the Institute of Chartered Accountants of India, the Company has
reviewed its fixed assets and not expect any loss as on 31st March 2014
on account of impairment.
12. Prior year comparatives
Previous year''s figures have been regrouped/reclassified wherever
necessary to correspond with the current year''s classification /
disclosure.
Mar 31, 2013
1. Terms/rights attached to equity shares
The Company has only one class of equity shares having a par value of
Rs. 10 per share. Each holder of equity * shares is entitled to one
vote per share. The Company declares and pays dividends in Indian
Rupees. The dividend, if any, 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 holders of equity
shares will be entitled to receive remaining assets of the company,
after distribution of all preferential amounts, if any. The
distribution will be in proportion to the number of equity shares held
by the shareholders.
2. Contingent liability in respect of disputed Income Tax Demand Rs.
234840/- (Previous year Rs. 234840/-)
3. The Company does not have any employee and hence the provisions of
the Payment of Gratuity Act 1972 are not applicable.
4. Taxation
Current Tax:
No provision for Income Tax (Current Tax) is made in the current year
in view of the computation of income resulting in a loss in accordance
with the provision of the Income Tax Act, 1961, and further, there is
no "book profit", as envisaged in section 115JB of the Income Tax Act
because of brought forward losses as per books or account.
Deferred Tax:
The Company has unabsorbed depreciation and carried forward losses
available for set-off under the Income Tax Act, 1961. However, in view
of present uncertainty regarding generation of sufficient future
taxable Income, net deferred tax assets at the year end Including
related credit / debit for the year have not been recognized in these
accounts on prudent basis.
5. As the Company is not carrying any operations, there are no
reportable segments, as required by AS- 17 Segment Reporting''.
6. There was no balance due to Micro and Small Enterprises as defined
under the MSMED Act, 2006. Further no interest during the year has been
paid or payable under the terms of MSMED Act, 2006.
7. Debts over six months amounting to Rs. 6318.30 (Previous year Rs.
6318.30) are long overdue but in the opinion of the management, they
are fully recoverable and the same hove been classified as good.
8. Balances In parties accounts are subject to confirmation /
reconciliation. Appropriate adjustments, If any, will be made as and
when the balances are reconciled.
9. Any of the assets other than fixed assets and non current
investments have the value on realisation in the ordinary course of
business equal to the amount at which they are stated, subject to
amounts not realised on full and final settlement / disposal.
10. There are no amounts due and outstanding to be credited to
Investor Education and Protection Fund.
11. In view of Accounting Standard 28 on Impairment of Assets issued
by the Institute of Chartered Accountants of India, the Company has
reviewed its fixed assets and not expect any loss as on 31st March 2012
on account of impairment.
12. Prior year comparatives
Previous year''s figures have been regrouped/reclassified wherever
necessary to correspond with the current year''s classification /
disclosure.
Mar 31, 2012
1. Terms/rights attached to equity shares
The Company has only one class of equity shares having a par value of
Rs. 10 per share. Each holder of equity * shares is entitled to one
vote per share. The Company declares and pays dividends in Indian
Rupees. The dividend, if any, 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 holders of equity
shares will be entitled to receive remaining assets of the company,
after distribution of all preferential amounts, if any. The
distribution will be in proportion to the number of equity shares held
by the shareholders.
2. Contingent liability in respect of disputed Income Tax Demand Rs.
234840/- (Previous year Rs. 234840/-)
3. The Company does not have any employee and hence the provisions of
the Payment of Gratuity Act 1972 are not applicable.
4. Taxation
Current Tax:
No provision for Income Tax (Current Tax) is made in the current year
in view of the computation of income resulting in a loss in accordance
with the provision of the Income Tax Act, 1961, and further, there is
no "book profit", as envisaged in section 115JB of the Income Tax Act
because of brought forward losses as per books or account.
Deferred Tax:
The Company has unabsorbed depreciation and carried forward losses
available for set-off under the Income Tax Act, 1961. However, in view
of present uncertainty regarding generation of sufficient future
taxable Income, net deferred tax assets at the year end Including
related credit / debit for the year have not been recognized in these
accounts on prudent basis.
5. As the Company is not carrying any operations, there are no
reportable segments, as required by AS- 17 Segment Reporting''.
6. There was no balance due to Micro and Small Enterprises as defined
under the MSMED Act, 2006. Further no interest during the year has been
paid or payable under the terms of MSMED Act, 2006.
7. Debts over six months amounting to Rs. 6318.30 (Previous year Rs.
6318.30) are long overdue but in the opinion of the management, they
are fully recoverable and the same hove been classified as good.
8. Balances In parties accounts are subject to confirmation /
reconciliation. Appropriate adjustments, If any, will be made as and
when the balances are reconciled.
9. Any of the assets other than fixed assets and non current
investments have the value on realisation in the ordinary course of
business equal to the amount at which they are stated, subject to
amounts not realised on full and final settlement / disposal.
10. There are no amounts due and outstanding to be credited to
Investor Education and Protection Fund.
11. In view of Accounting Standard 28 on Impairment of Assets issued
by the Institute of Chartered Accountants of India, the Company has
reviewed its fixed assets and not expect any loss as on 31st March 2012
on account of impairment.
12. Prior year comparatives
Previous year''s figures have been regrouped/reclassified wherever
necessary to correspond with the current year''s classification /
disclosure.
Mar 31, 2011
1. Contingent liability in respect of disputed Income Tax Demand Rs.
234840 (Previous year Rs. - 234840)
2. The Company does not have any employee and hence the provisions of
the Payment of Gratuity Act, 1972 are not applicable.
3. Taxation
4. Current Tax:
In view of book profits and no taxable profits, as per computation of
income, the provision for tax has been made as per MAT under section
115 JB of the Income tax Act 1961.
5. Deferred Tax:
The Company has unabsorbed depreciation and carried forward losses
available for set-off under the Income Tax Act, 1961. However, in view
of present uncertainty regarding generation of sufficient future
taxable income, net deferred tax assets at the year end including
related credit / debit for the year have not been recognized in these
accounts on prudent basis.
6. The Company has mainly one reportable business and geographical
segment and hence no further disclosure is required under Accounting
Standard (AS) 17 on Segment Reporting issued by the Institute of
Chartered Accountants of India.
7. The Company has no amounts due to any micro, small and medium
enterprises as defined under section 7(i)(a) / 7(i)(b) / 7(i)(c) of
Micro, Small and Medium Enterprises Development Ac, 2006 as on March
31, 2011. Further, no interest during the year has been paid or payable
under the terms of the Micro, Small and Medium Enterprises Development
Act, 2006
8. Debts over six months amounting to Rs. 6318.30 (Previous year Rs.
6318.30) are long overdue but in the opinion of the management, they
are fully recoverable and the same have been classified as good.
9. Balances with Debtors, Creditors and for Loans and Advances are
subject to confirmations form the respective parties.
10. The Currant Assets, Loans and Advances are stated at the value,
which in the opinion of the board, are realizable in the ordinary
course of the business. Current Liabilities and Provision are stated at
the value payable in the ordinary course of the business.
11. The information pursuant to Clause 4, 4-A, 4-C and 4-D of Part II
of Schedule VI to the Companies Act, 1956 have not been furnished as
these are not applicable the the Company.
12. Interest received is gorss of tax deducted at source of Rs, 0.00
(Previous year Rs.7756.00)
13. There are no amounts due and outstanding to be credited to
Investor Education and Protection Fund.
14. In view of Accounting Standard 28 on Impairment of Assets issued
by the Institute of Chartered
15. Accountants of India, the Company has reviewed its fixed assets
and does not expect any loss as on 31sl March 2011 on account of
impairment.
16. Related Party Disclosures
Related party disclosures as required by Accounting Standard 18
"Related Party Disclosures"
17. List of Related Parties (As identified by the Management)
i. Individuals holding 20% or more voting rights.
Vijay Kumar Jain
Smt. Kiran Devi Jain
ii. Key Management personnel and their relatives.
Directors :
Vijay Kumar Jain
Relatives :
Santosh Kumar Jain (HUF)
Smt. Kiran Devi Jain
Smt. Chandrakala Jain
Niraj Jain
Santosh Kumar Jain
iii. Enterprises owned or significantly influenced by key management
personnel or their relatives. M. Nirmal Kumar (P) Limited
18. Schedules 1 to 10 are annexed to and form an integral part of the
Balance Sheet and Profit and Loss Account.
19. Previous year's figures have been re-grouped wherever necessary.
Mar 31, 2010
1.Contingent liablity in respect of disputed Tax Demand Rs.234840
2. The Company does not have any employee and hence the provisions of
the Payment of Gratuity Act, 1972 are not applicable.
3. Taxation Current Tax:
In view of book profits and no taxable profits, as per computation of
income, the provision for tax has been made as per MAT under section
115 JB of the Income tax Act 1961.
Deferred Tax:
The Company has unabsorbed depreciation and carried forward losses
available for set-off under the Income Tax Act, 1961. However, in view
of present uncertainty regarding generation of sufficient future
taxable income, net deferred tax assets at the year end including
related credit / debit for the year have not been recognized in these
accounts on prudent basis.
4. The Company has mainly one reportable business and geographical
segment and hence no further disclosure is required under Accounting
Standard (AS) 17 on Segment Reporting issued by the Institute of
Chartered Accountants of India.
5. The Company has no amounts due to any micro, small and medium
enterprises as defined under section 7(i)(a) / 7(i)(b) / 7(i)(c) of
Micro, Small and Medium Enterprises Development Ac, 2006 as on March
31, 2010. Further, no interest during the year has been paid or payable
under the terms of the Micro, Small and Medium Enterprises Development
Act, 2006
6. Debts over six months amounting to Rs. 6318.30 (Previous year Rs.
6318.30) are long overdue but in the opinion of the management, they
are fully recoverable and the same have been classified as good.
7. Balances with Debtors, Creditors and for Loans and Advances are
subject to confirmations form the respective parties.
8. The Currant Assets, Loans and Advances are stated at the value,
which in the opinion of the board, are realizable in the ordinary
course of the business. Current Liabilities and Provision are stated at
the value payable in the ordinary course of the business.
9. The information pursuant to Clause 4, 4-A, 4-C and 4-D of Part II
of Schedule VI to the Companies Act, 1956 have not been furnished as
these are not applicable the the Company.
10. Interest received is gorss of tax deducted at source of Rs.
7756.00 (Previous year Rs.NIL)
11. There are no amounts due and outstanding to be credited to Investor
Education and Protection Fund.
In view of Accounting Standard 28 on Impairment of Assets issued by the
Institute of Chartered
12. Accountants of India, the Company has reviewed its fixed assets
and does not expect any loss as on 31st March 2010 on account of
impairment.
13. Related Party Disclosures
Related party disclosures as required by Accounting Standard 18
"Related Party Disclosures"
a. List of Related Parties (As identified by the Management)
i. Individuals holding 20% or more voting rights.
Vijay Kumar Jain
Smt. Kiran Devi Jain
ii. Key Management personnel and their relatives.
Directors :
Santosh Kumar Jain
Relatives :
Santosh Kumar Jain (HUF)
Smt. Kiran Devi Jain
Smt. Chandrakala Jain
Niraj Jain
Vijay Kumar Jain
iii. Enterprises owned or significantly influenced by key management
personnel or their relatives.
Big Shop
M. Nirmal Kumar (P) Limited
Note :
1. No amount has been written off or written back during the year in
respect of debts due from or
14. Schedules 1 to 10 are annexed to and form an Integral part of the
Balance Sheet and Profit and Loss Account.
15. Previous year''s figures have been re-grouped wherever necessary.
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