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Notes to Accounts of East Buildtech Ltd.

Mar 31, 2014

Note : 1 Previous year figures have been re-grouped and rearranged whenever necessary.

Note : 2 Income tax assessments upto the Assessment Year 2012-2013 have been completed u/s 143(1). Liability, if any, will be provided in the year of final assessment.

Note : 3 In the opinion of the Management the aggregate values of current assets, loans and advances on In the opinion of the Management the aggregate values of current assets, loans and advances on realisation in ordinary course of business will not be less than the amount at which they are stated in the balance sheet.

Note : 4 The Company has no dues relating to Micro, Small and Medium Enterprises as defined under the Micro, Small and Medium Enterprises Development Act 2006("Act"). Therefore no disclosures are given under this Act.

Note : 5 Related party disclosures as per Accounting Standard - 18

Related parties transaction during the year ended 31st March 2013 are detailed below:

i) Key Management Personnel and their relatives

* Mr. Madhusudhan Chokhani

* Mr. Vivek Garg

* Mr. J.P. Chokhani

* Mrs. Anita Chokhani

* J. P. Chokhani HUF

* Mrs. Kavita Chokhani

* Mr. Suresh Kumar Goenka

ii) Enterprises over which any person described in (a) is able to exercise significant influence

* Sugan TMT Industries Ltd

* Udyogika Ltd

Note : 6 Segment Reporting:

Identification of Segments

Primary Segment

Business Segment: The company''s operating businesses are organized and managed separately according to the nature of products with each segment representing a strategic business unit that offers different products. The two identified segments Real Estate/Construction & Consultancy.

Defined Benefit Plan

The employees'' gratuity fund scheme is a defined benefit plan. The present value of obligation is determined based on actuarial valuation using the Projected Unit Credit Method, which recognises each period of service as giving rise to additional unit of employee benefit entitlement and measures each unit separately to build up the final obligation. The obligation for leave encashment is recognised in the same manner as gratuity.

The estimates of rate of escalation in salary considered in actuarial valuation, take into account inflation, seniority, promotion and other relevant factors including supply and demand in the employment market. The above information is certified by the actuary.

Disclosure in respect of previous three annual periods as required by Revised Accounting Standard - 15 ''Employee Benefits'' is not presented as the management considers it impracticable in the absence of requisite information.


Mar 31, 2013

Note-1 Defered Tax Liabilities/Assets

Deferred Taxes:

In accordance with the Accounting Standard 22 (AS-22)"Accounting for taxes on Income" issued by the Institute of Chartered Accountants of India the Company has provided for Deferred Tax. Deferred Tax Liability/assets up to 31.03.2013 comprising of the following major components:-

Note : 2 Previous year figures have been re-grouped and rearranged whenever necessary.

Note : 3 Income tax assessments upto the Assessment Year 2011-2012 have been completed u/s 143(1).

Liability, if any, will be provided in the year of final assessment.

Note : 4 In the opinion of the Management the aggregate values of current assets, loans and advances on realisation in ordinary course of business will not be less than the amount at which they are stated in the balance sheet.

Note : 5 The Company has no dues relating to Micro, Small and Medium Enterprises as defined under the Micro, Small and Medium Enterprises Development Act 2006("Act"). Therefore no disclosures are given under this Act.

Note 6 Segment Reporting:

As the Companies business activities falls within a single primary business segment i.e. Real Estate/Construction. The disclosure requirement of Accounting Standard (AS-17) ''Segment Reporting'' issued by the Institute of Chartered Accountants of India is not applicable.

Defined Benefit Plan

The employees'' gratuity fund scheme is a defined benefit plan. The present value of obligation is determined based on actuarial valuation using the Projected Unit Credit Method, which recognises each period of service as giving rise to additional unit of employee benefit entitlement and measures each unit separately to build up the final obligation. The obligation for leave encashment is recognised in the same manner as gratuity.

The estimates of rate of escalation in salary considered in actuarial valuation, take into account inflation, seniority, promotion and other relevant factors including supply and demand in the employment market. The above information is certified by the actuary.

Disclosure in respect of previous three annual periods as required by Revised Accounting Standard - 15 ''Employee Benefits'' is not presented as the management considers it impracticable in the absence of requisite information.

A. There was no employee who was employed throughout the Financial Year and was in receipt of an aggregate remuneration of more than Rs.48,00,000/- p.a. or Rs.4,00,000/- per month if employed for part of the year.


Mar 31, 2012

NOTE : 1 SHARE CAPITAL

a) The Company has not allotted any fully paid up shares pursuant to contract(s) without payment being received in cash nor has allotted any fully paid up shares by way of bonus shares nor has bought back any class of shares during the period of five years immediately preceding the balance sheet date

Note : 2 Deferred Taxes:

In accordance with the Accounting Standard 22 (AS-22) "Accounting for taxes on Income" issued by the Institute of Chartered Accountants of India the Company has provided for Deferred Tax. Deferred Tax Liability/assets up to 31.03.2012 comprising of the following major components:-

Note : 3 Contingent Liabilities

Current Year Previous Year

Nil Nil

Note : 4 Previous year figures have been re-grouped and rearranged as per requirement of revised Schedule VI of the Companies Act, 1956.

Note : 5 Income tax assessments upto the Assessment Year 2010-2011 have been completed u/s 143(1). Liability, if any, will be provided in the year of final assessment. vincing evidence

Note : 6 In the opinion of the Management the aggregate values of current assets, loans and advances on realisation in ordinary course of business will not be less than the amount at which they are stated in the balance sheet.

Note : 7 The Company has no dues relating to Micro, Small and Medium Enterprises as defined under the Micro, Small and Medium Enterprises Development Act 2006 ("Act"). Therefore no disclosures are given under this Act.

Note : 8 Related party disclosures as per Accounting Standard - 18

Related parties transaction during the year ended 31st March 2012 are detailed below:

i) Key Management Personnel and their relatives

- Mr. Madhusudan Chokhani

- Mr. Suresh Kumar Agarwal

- Mr. Vivek Garg

- Mr. J.P. Chokhani

- Mrs. Anita Chokhani

- J. P. Chokhani HUF

- Mrs. Kavita Chokhani

- Mr. Suresh Kumar Goenka

Note : 9 Segment Reporting:

As the Companies business activities falls within a single primary business segment i.e. Real Estate/Construction. The disclosure requirement of Accounting Standard (AS-17) 'Segment Reporting' issued by the Institute of Chartered Accountants of India is not applicable.


Mar 31, 2010

Current Year Previous Year

1. Contingent Liabilities Nil Nil



2. Previous year figures have been re-grouped and rearranged wherever necessary.

3. Taxation

(a) Income tax assessments upto the Assessment Year 2007-2008 have been completed u/s 143(1)(a). Liability, if any, will be provided in the year of final assessment.

(b) Minimum Alternate Tax (MAT)

Provision made for taxation is based on Minimum Alternate Tax (MAT) payable on Book Profits as per the provision of Sec 115 JAA of the Income Tax Act, 1961. Further in accordance with the Guidance Note on Accounting for Credit Available in respect of Minimum Alternative Tax (MAT) under the Income Tax Act, issued by Council of Institute of Chartered Accountants of India, MAT credit is recognized as an asset under the head "Loan and Advances" based on convincing evidence.

(c) Deferred Taxes:

In accordance with the Accounting Standard 22 (AS- 22) "Accounting for taxes on Income" issued by the Institute of Chartered Accountants of India the Company has provided for Deferred Tax. Deferred Tax Liability/assets up to 31.03.2010 comprising of the following major components:-

4. In the opinion of the Management the aggregate values of current assets, loans and advances on realisation in ordinary course of business will not be less than the amount at which they are stated in the balance sheet.

5. Some of the debit and credit balances are subject to confirmation.

6. The Company has no dues relating to Micro, Small and Medium Enterprises as defined under the Micro, Small and Medium Enterprises Development Act 2006("Act"). Therefore no disclosures are given under this Act.

7. Related party disclosures as per Accounting Standard-18

Related Parties transactions during the year ended 31st March, 2010 are detailed below :

(a) Key Management Personnel and their relatives

- Mr. Madhusudan Chokhani

- Mr. Suresh Kumar Agarwal

- Mr. Vivek Garg

- Mr. J.P. Chokhani

- Mrs. Anita Chokhani

- J. P. Chokhani HUF

- Kavita Chokhani

8. Segment Reporting :

As the Companies business activities falls within a single primary business segment i.e. Real Estate/Construction. The disclosure requirement of Accounting Standard (AS-17) Segment Reporting issued by the Institute of Chartered Accountants of India is not applicable.

9. In respect of a contract awarded to the company, the contractee company has since cancelled the contract & agreed to reimburse the expenses incurred by the company in that behalf. The company has incurred a sum of Rs. 83,36,771 and the balance Rs. 42,31,198 has been shown as expenses recoverable under the head "other advances".

10. There was no employee who was employed throughout the Financial Year and was in receipt of an aggregate remuneration of more than Rs.24,00,000/- p.a. or Rs.2,00,000/- per month if employed for part of the year.

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