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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