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Notes to Accounts of Agarwal Fortune India Ltd.

Mar 31, 2014

1. Balance of Deposit, Loans & Advances and others are subject to confirmation. However, in the opinion of the management these accounts will fetch the mount as stated in the books of account on realisation in the ordinary course of business.

2. In the opinion of the management and to the best of their knowledge and belief, the aggregate value of the current assets and loans & advances, on realization in the ordinary course of business, will not be less than the amount at which they are stated in the balance sheet.

3. Related Party Disclosures have been set out as below. The related parties , as defined by Accounting Standard 18 related party disclosure, issued by Institute of chartered Accountants of India .In respect of which the disclosures have been made , have been identified on the basis of information available with the company .

4. Previous year figures have been reworked, recast/re-stated to confirm to the classification of the Current year.


Mar 31, 2013

1. CONTINGENT LIABILITIES

- Contingent liability that may arise due to delayed / non-compliance of certain fiscal statutes amount unascertainable.

- The company has not provided for gratuity , privilege leave and other retirement benefits as the company has follows the practice of accounting for the retirement benefits as and when paid . This not in accordance with accounting standards -15 issued by the Institute of Chartered Accountants of India. The extent of non compliance in value is not ascertainable and material.

- No Provision for Interest has been made on the Secured Loan given by Dena Bank as the matter is in litigation and the same shall be accounted on the setdement of case The extent of value is not ascertainable..

2. Balance of Sundry Debtors, Sundry Creditors, Trade Deposit, Loans & Advances and others are

subject to confirmation. However, in the opinion of the management these accounts will fetch the amount as stated in the books of account on realisation in the ordinary course of business.

3. No impairment loss has been booked in the books of accounts due to recoverable amount (higher of an asset''s net selling price and its value in use) is higher than carrying amount of asset as per the Directors of company.

4. In the opinion of die management and to the best of their knowledge and belief, the aggregate value of the current assets and loans & advances, on realization in the ordinary course of business, will not be less than the amount at which they are stated in the balance sheet.

5. The Company has generally complied with the direction issued by Reserve Bank of India and provisions of section 58A of die Companies Act, 1956. The policy of provisioning for Non — performing Loans and Advances has been decided by the management considering prudential norms prescribe by the Reserve Bank of India

6. These financial Statements have been prepared in the format prescribed by the Revised Schedule VI to the Companies Act, 1956. Previous year figures have been reworked, recast/re-stated to confirm to the classification of the Current year.


Mar 31, 2012

1. CONTINGENT LIABILITIES

- Contingent liability that may arise due to delayed / non-compliance of certain fiscal statutes amount unascertainable.

- The company has not provided for gratuity , privilege leave and other retirement benefits as the company has follows the practice of accounting for the retirement benefits as and when paid . This not in accordance with accounting standards -15 issued by the Institute of Chartered Accountants of India. The extent of non compliance in value is not ascertainable and material.

- No Provision for Interest has been made on the Secured Loan given by Dena Bank as the matter is in litigation and the same shall be accounted on the setdement of case The extent of value is not ascertainable..

2. Balance of Sundry Debtors, Sundry Creditors, Trade Deposit, Loans & Advances and others are subject to confirmation. However, in the opinion of the management these accounts will fetch the amount as stated in the books of account on realisation in the ordinary course of business.

3. No impairment loss has been booked in the books of accounts due to recoverable amount (higher of an asset's net selling price and its value in use) is higher than carrying amount of asset as per the Directors of company.

4. In the opinion of the management and to the best of their knowledge and belief, the aggregate value of the current assets and loans & advances, on realization in the ordinary course of business, will not be less than the amount at which they are stated in the balance sheet.

5. The Company has generally complied with the direction issued by Reserve Bank of India and provisions of section 58A of the Companies Act, 1956. The policy of provisioning for Non — performing Loans and Advances has been decided by the management considering prudential norms prescribe by the Reserve Bank of India

6. Related Party Disclosures have been set out as below. The related parties , as defined by Accounting Standard 18 related party disclosure, issued by Institute of chartered Accountants of India .In respect of which the disclosures have been made , have been identified on the basis of information available with the company .

7. These financial Statements have been prepared in die format prescribed by die Revised Schedule VI to the Companies Act, 1956. Previous year figures have been reworked, recast/re-stated to confirm to the classification of the Current year.


Mar 31, 2011

1. The Company has generally complied with the directions issued by the Reserve Bank of India and provisions of section 58A of the Companies Act, 1956.

2. Contingent Liabilities :Nil (Previous Year - NIL)

3. Contingent Liabilities that may arise due to delayed/non Compliance of certain fiscal Statuaries amount unascertainable.

4. The Company has not provided for gratuity, privilege leave and other retirement benefits as the company follows the practice of accounting for the retirement benefits as and when paid. This is not in accordance with the Accounting standard-15 issued by the Institute of Chartered Accountants of India. The extent of non compliance in value term is not ascertainable and material.

8. Related Party Disclosures have been set out as below. The related parties , as defined by Accounting Standard 18 related party disclosure, issued by Institute of chartered Accountants of India .In respect of which the disclosures have been made , have been identified on the basis of information available with the company .

9. In the opinion of the management and to the best of their knowledge and belief, the aggregate value of the current assets and loans & advances, on realization in the ordinary course of business, will not be less than the amount at which they are stated in the Balance Sheet.

10. Balances under the head Sundry Debtors, Creditors, Loans & Advances and other are subject to confirmation with respective parties and necessary adjustments and/or proper classification thereof, if any, will be made on its reconciliation and/or settlement

11. No Provision for Interest has been made on the Secured loan given by Dena Bank as the matter is in litigation and the same shall be accounted for on cash basis on settlement of case.

11. Payment made to the auditors for the year ended as on 31.03.2011 for Rs.16545/- (2009-2010 Rs. 16545/-).

12 Previous year figures have been regrouped and rearranged, wherever considered necessary so as to make them comparable.


Mar 31, 2010

1. The Company has generally complied with the directions issued by the Reserve Bank of India and provisions of section 58A of the Companies Act, 1956.

2. Contingent Liabilities nil (Previous Year - NIL)

3. Contingent Liabilities that may arise due to delayed/non Compliance of certain fiscal Statuaries amount un ascertainable.

4. The Company has not provided for gratuity, privilege leave and other retirement benefits as the company follows the practice of accounting for the retirement benefits as and when paid. This is not in accordance with the Accounting standard-15 issued by the Institute of Chartered Accountants of India. The extent of non compliance in value term is not ascertainable and material.

5. In the opinion of the management and to the best of their knowledge and belief, the aggregate value of the current assets and loans & advances, on realization in the ordinary course of business, will not be less than the amount at which they are stated in the Balance Sheet.

6. Balances under the head Sundry Debtors, Creditors, Loans & Advances and other are subject to confirmation with respective parties and necessary adjustments and/or proper classification thereof, if any, will be made on its reconciliation and/or settlement

7.Payment made to the auditors for the period ended as on 31.03.2010 for Rs.15500/- (2008-2009 Rs. 15500/).

8 Previous years figures have been regrouped and rearranged, wherever considered necessary so as to make them comparable.

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