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Notes to Accounts of Effingo Textile & Trading Ltd.

Mar 31, 2015

Note 1: Information required under Para 3 (ii) (b) of Part II of Schedule VI to the Companies Act, 1956 in respect of items traded during the year:

a. Since the Company is in the business of trading, the provisions regarding licensed and installed capacity, as well as production & raw - material consumption are not applicable.

b. Details of items traded –

Note 2: The Company has not received any intimation from suppliers regarding their status under the Micro, Small and Medium Enterprises Development Act, 2006 and hence disclosures if any, relating to amounts unpaid as at the year end together with the interest paid/payable as required under the said Act have not been given.

Note 3: In the opinion of the Board, the Current Assets Loans and Advances are not less than the values stated if realized in the ordinary course of business. The provision for all known liabilities are adequate and not in excess of the amount reasonably necessary. Note

4: Deferred tax is recognized, subject to the consideration of prudence on timing differences, being the difference between taxable income and accounting income that originate in one period and are capable of reversal in one or more subsequent periods.

Note 5: The Company has been Registered as Non Banking Finance Company with RBI vide Registration No.427. The company is in process of completing pending formalities of compliance with RBI. Note 30: The balances of Current assets, Current liabilities including Sundry Debtors, Sundry Creditors, Loans & advances, Secured & Unsecured Loan balances are subject to confirmation.

Note 6: Related Party Disclosure

i ) Directors & Key management personnel

- Priya Rawal - Women Director , Executive Director .

- Gaurav Bahety - Executive Director

- Rakesh Kumar - Independent Director (Appointed on December 31, 2014)

- Yogesh Kumar - Independent Director (Appointed on December 31, 2014)

- Anil Tondon - Independent Director (cessation on December 31, 2014 )

- Rajendra Gogawat - Independent Director (cessation on December 31, 2014 )

- Manish Jain - Independent Director (cessation on December 31, 2014 )

ii ) Summary of related party transactions

The transaction with the above parties were as follows:

Note 7: Previous year's figures have been regrouped and/or rearranged wherever considered necessary.


Mar 31, 2014

Note 1: Information required under Para 3 (ii) (b) of Part II of Schedule VI to the Companies Act, 1956 in respect of items traded during the year:

a. Since the Company is in the business of trading, the provisions regarding licensed and installed capacity, as well as production & raw - material consumption are not applicable.

b. Details of items traded –

Note 2: The Company has not received any intimation from suppliers regarding their status under the Micro, Small and Medium Enterprises Development Act, 2006 and hence disclosures if any, relating to amounts unpaid as at the year end together with the interest paid/payable as required under the said Act have not been given.

Note 3: In the opinion of the Board, the Current Assets Loans and Advances are not less than the values stated if realized in the ordinary course of business. The provision for all known liabilities are adequate and not in excess of the amount reasonably necessary.

Note 4: Deferred tax is recognized, subject to the consideration of prudence on timing differences, being the difference between taxable income and accounting income that originate in one period and are capable of reversal in one or more subsequent periods.

Note 5: Company has been Registered as Non Banking Finance Company with RBI vide RO No.671.

Note 6: The balances of Current assets, Current liabilities including Sundry Debtors, Sundry Creditors, Loans & advances, Secured & Unsecured Loan balances are subject to confirmation.

Note 7: Related Party Disclosure

Major Shareholder Anju Jain

Director Sh. Manish Jain

Concerns where major Shareholder/Director has substantial interest

Arihant Exports Limited

Nityanand Exports & Consultants Co. Ltd. Pasupati Acrylon Limited

Associates

VMA Finance Pvt. Ltd. MVA Finance Pvt. Ltd.

Note 8: Previous year''s figures have been regrouped and/or rearranged wherever considered necessary.


Mar 31, 2013

Note 1: Information required under Para 3 (ii) (b) of Part II of Schedule VI to the Companies Act, 1956 in respect of items traded during the year:

a. Since the Company is in the business of trading, the provisions regarding licensed and installed capacity, as well as production & raw - material consumption are not applicable.

b. Details of items traded –

Note 2: The Company has not received any intimation from suppliers regarding their status under the Micro, Small and Medium Enterprises Development Act, 2006 and hence disclosures if any, relating to amounts unpaid as at the year end together with the interest paid/payable as required under the said Act have not been given. Note 21: In the opinion of the Board, the Current Assets Loans and Advances are not less than the values stated if realized in the ordinary course of business. The provision for all known liabilities are adequate and not in excess of the amount reasonably necessary. Note 22:The Deferred Tax asset arising due to brought forward losses has not been recognized in view of uncertainty as recommended under Accounting Standard ''22'' (AS-22) on Deferred Taxation issued by the Institute of Chartered Accountants of India.

Note: 3 Related Party relationship is as identified by the Company and relied upon by the Auditors.

Note 4: Previous year''s figures have been regrouped and/or rearranged wherever considered necessary.

Note 5: Company has been Registered as Non Banking Finance Company with RBI vide Registration No.13.00625 dated 07.04.1998.

Note 6: In the opinion of the management, the current assets, loans and advances are expected to realize at least the amount at which they are stated, if realized in the ordinary course of business and provision for all known liabilities have been adequately made in the accounts. Note 27:The Deferred Tax asset arising due to brought forward losses has not been recognized in view of uncertainty as recommended under Accounting Standard ''22'' (AS-22) on Deferred Taxation issued by the Institute of Chartered Accountants of India.

Note 7: Disclosure in respect of loan/advances & investment in its own shares by the company, its subsidiary, associates etc. (as required under clause 32 of listing agreement):-

Note 8: Additional particulars as required in terms of paragraph 9BB of Non Banking Financial Companies Prudential Norms (Reserve Bank) Directions, 1998.


Mar 31, 2012

1. Previous year's figures have been regrouped and/or rearranged wherever considered necessary.

2. Company has been Registered as Non Banking Finance Company with RBI vide Registration No.13.00625 dated 07.04.1998.

3. In the opinion of the management, the current assets, loans and advances are expected to realize at least the amount at which they are stated, if realized in the ordinary course of business and provision for all known liabilities have been adequately made in the accounts.

4. The Deferred Tax asset arising due to brought forward losses has not been recognized in view of uncertainty as recommended under Accounting Standard '22' (AS-22) on Deferred Taxation issued by the Institute of Chartered Accountants of India.


Mar 31, 2011

1. Amount due to Micro small & Medium Enterprises development (MSMED) is Nil (Previous year is Nil) No Amount was due to any small sector unit.

2. In the opinion of the ,Management the diminution in the value of long term investment is temporary in nature and hence provision for the same is not considered necessary.

3.Current Liabilities include due to Director /Ex Director Rs.58.000 (Previous Year Rs.33.933).

4. Previous year's figures have been regrouped and/or rearranged wherever considered necessary.

5. Company has been Registered as Non Banking Finance Company with RBI vide Registration No. 13.00625 dated 07.04.1998.

6. In the opinion of the management, the current assets, loans and advances are expected to realize at least the amount at which they are stated if reaped in "he ordinary course of business and provision for all known liabilities have Seen adequately made in the accounts.

7. The Deferred Tax Acer arising due to brought forward losses had not been recognized in view of uncertainty as recommended under accounting standard 22" on Deferred Taxation issued by the institute of chartered Accountants of India.

8. Disclosure in respect of loan advances & investment in its own shares by the company its subsidiary associates etc. (as required under clause 32 of listing agreement):-

9. Additional particulars as required in terms of paragraph 9 BB of non Banking Financial companies Prudential Norms (Reserve Bank) Directions, 1988

10. Borrower group-wise classification of all leased assets stock on hire and loans and advances:

11. Investor group wise classification of all investments (Current and long term) in shares and securities (both quoted and unquoted).

 
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