Mar 31, 2014
1. Corporate Information
Enterprise International Limited is a public company domiciled in India
and incorporated under the provisions of the Companies Act, 1956. Its
shares are listed on Bombay & Kolkata Stock Exchanges in India.
Enterprise International Limited is engaged in import of textile yarn
and fabric and sale thereof in India.
2. Basis of Preparation of financial statements
The financial statements of the Company have been prepared and
presented under the historical cost convention on the accrual basis of
accounting following generally accepted accounting principles in India
(GAAP) and comply with the Accounting Standards notified under the
Companies (Accounting Standards) Rules 2006 as amended and the relevant
provisions of the Companies Act, 1956. The financial statements are
presented in Indian Rupees.
3 Segment Reporting
Primary Segment
Based on the guiding principal given in the Accounting Standard -17
"Segment Reporting issued by the Central Government, the Company''s
primary segment are SilkTextile & Financial Activities.
The above business segments have been identified considering
i) The nature of products
ii) The related risks and returns
iii) The internal financial reporting systems
Revenue and expenses have been accounted for based on the basis of
their relationship to the operating activities of the segment. Revenue
and expenses, which relate to the enterprise as a whole and are not
allocable to segments on a reasonable basis, have been included under
"Unallocable Expenses". Assets and liabilities which relate to the
enterprise as a whole and are not allocable to segments on a reasonable
basis, have been included under "Unallocable Assets / Liabilities".
B. SECONDARY SEGMENT
The Company caters mainly to the needs of Indian marks. Export turnover
during the year being nil of the total turnover, there are no
reportable geographical segments.
4. In the opinion of the Board of Directors current Assets, Loans &
Advances are approximately of the value stated, if realised in the
ordinary course of business.
5. Fixed Deposit with scheduled bank have been pledged to Bank:
a) against bank guarantee issued by the bank to the custom authorities,
and b for availing of buyers''credit facility
6. The company has examined carrying cost of its identified Cash
Generating Units (CGU) by comparing present value of estimated future
cash flows from such CGU in terms of Accounting Standard on Impairment
of Assets according to which no provision for Impairment is required as
assets of non of CGU are impaired during thefinancial year ended 31st
March, 2014.
7. Contingent Liability in respect of Bank Guarantee given by a
scheduled bank to custom authorities due to duty is Rs. 83649863/-
(Previous Year Rs. 3,55,42,674)
8. Related Party Disclosure
(Parties with whom transactions have taken place during the year)
Name of the related parties Name of Relationship
(i) Aahana Commerce Pvt. Ltd. Associates of the Company
(ii) GaneshAwas Private Limited Associates of the Company
(iii) GopalDasSarda(HUF) Associates of the Company
(iv) AdityaSarda(HUF) Associates of the Company
(v) Panache Associates of the Company
(vi) GopalDasSarda Key Management Person
(vii) AdityaSarda Key Management Person
(viii)BrijlataSarda Director''s Relative
(ix) RishuSarda Director''s Relative
The above parties are related parties in the broader sense of the term
and are included for making the financial statements more transparent.
9. Operating Leases: Company as Leases
Certain office premises obtained on operating lease. The lease term is
for 3 years and renewable for further period either mutually or at the
option of the Company. There is no escalation clause in the lease
agreement. There are no restrictions imposed by lease agrranement.
There is no sublease. The lease are cancelable.
Lease payment made for the year 6,000 6,000
Contingent rent recognized in Profits Loss Account Nil Nil
10. Operating Lease: Company as Lassor
The company has leased out certain building on operating leases. The
lease term is for 3 years and thereafter renewable. There is escalation
clause in the lease agreements. The rent is not based on any
contingencies. There are no restrictions imposed by lease agreements.
The lease are cancelable.
Mar 31, 2013
1. Corporate Information
Enterprise International Limited is a public company domiciled in India
and incorporated under the provisions of the Companies Act, 1956. Its
shares are listed on Bombay & Kolkata Stock Exchanges in India.
Enterprise International Limited is engaged in import of textile yarn
and fabric and sale thereof in India.
2. Basis of Preparation of financial statements
The financial staten rents of the Company have been prepared and
presented under the historical cost convention on the accrual basis of
accounting following generally accepted accounting principles in India
(GAAP) and comply with the Accounting Standards notified under the
Companies (Accounting Standards) Rules 2006 as amended and the relevant
provisions of the Companies Act, 1956. The financial statements are
presented in Indian Rupees.
3 Segment Reporting
Primary Segment
Based on the guiding principal given in the Accounting Standard - 17
"Segment Reporting" issued by the Central Government, the Company''s
primary segment are Silk Textile & Financial Activities.
The above business segments have been identified considering :
i) The nature of products
ii) The related risks and returns
iii) The internal financial reporting systems
Revenue and expenses have been accounted for based on the basis of
their relationship to the operating activities of the segment. Revenue
and expenses, which relate to the enterprise as a whole and are not
allocable to segments on a reasonable basis, have been included under
"Unallocable Expenses". Assets and liabilites which relate to the
enterprise as a whole and are not allocable to segments on a reasonable
basis, have been included under "Unallocable Assets/ Liabilites".
B. SECONDARY SEGMENT
The Company caters mainly to the needs of Indian marks. Export turnover
during the year being nil of the total turnover, there are no
reportable geographical segments.
4 In the opinion of the Board of Directors current Assets, Loans &
Advances are approximately of the value stated, if realised in the
ordinary course of business.
5 Fixed Deposit with scheduled bank have been pledged to Bank:
a) against bank guarantee issued by the bank to the custom authorities,
arid
b) for availing of buyers'' credit facility._
6 The company has examined carrying cost of its identified Cash
Generating Units (CGU) by comparing present value of estimated future
cash flows from such CGU in terms of Accounting Standard on Impairment
of Assets according to which no provision for Impairment is required as
assets of non of CGU are impaired during the financial year ended 31st
March 2013.
7 Contingent Liability in respect of Bank Guarantee given by a
scheduled bank to custom authorities due to dutyis Rs. 3,55,42,674
(Previous Year Rs. 1,96,52,450)
8 Operationa Lease : Company as Lassor
The Company has leased out certain buildings on operating leases. The
lease term is for 3 years and thereafter renewable. There is escalation
clause in the lease agreements. The rent is not based on any
contingencies. There are no restrictions imposed by lease agreements.
The lease are cancelable.
Mar 31, 2012
1. Corporate Information
Enterprise International Limited is a public company domiciled in India
and incorporated under the provisions of the Companies Act, 1956. Its
shares are listed on Bombay & Kolkata Stock Exchanges in India.
Enterprise International Limited is engaged in import of textile yarn
and fabric and sale thereof in India.
2. Basis of Preparation of financial statements
The financial statements of the Company have been prepared and
presented under the histori- cal cost convention on the accrual basis
of accounting following generally accepted accounting principles in
India (GAAP) and comply with the Accounting Standards notified under
the Com- panies (Accounting Standards) Rules 2006 as amended and the
relevant provisions of the Companies Act, 1956. The financial
statements are presented in Indian Rupees.
3 Segment Reporting
Primary Segment
Based on the guiding principal given in the Accounting Standard - 17
"Segment Reporting" issued by the Central Government, the Company's
primary segment are Silk Textile & Financial Activities.
The above business segments have been identified considering :
i) The nature of products
ii) The related risks and returns
iii) The internal financial reporting systems
Revenue and expenses have been accounted for based on the basis of
their relationship to the operating activities of the segment. Revenue
and expenses, which relate to the enterprise as a whole and are not
allocable to segments on a reasonable basis, have been included under
"Unallocable Expenses". Assets and liabilities which relate to the
enterprise as a whole and are not allocable to segments on a reasonable
basis, have been included under "Unallocable Assets/ Labilities".
B. SECONDARY SEGMENT
The Company caters mainly to the needs of Indian marks. Export turnover
during the year being nil of the total turnover, there are no
reportable geographical segments.
4. In the opinion of the Board of Directors current Assets, Loans &
Advances are approximately of the value stated, if realised in the
ordinary course of business.
5. Fixed Deposit with scheduled bank have been pledged to a Bank
against bank guarantee issued by the bank to the custom authorities.
6 The company has examined carrying cost of its identified Cash
Generating Units (CGU) by comparing present value of estimated future
cash flows from such CGU in terms of Accounting Standard on Impairment
of Assets according to which no provision for Impairment is required as
assets of non of CGU are impaired during the financial year ended 31st
March 2012.
Mar 31, 2010
1. In the opinion of the Board of Directors Current Assets, Loans and
Advances are approximately of the value Stated, if realised in the
ordinary course of business.
2. The Commissioner of Customs (Port), Kolkata had vide its order
dated 25.02.05 enhanced the value of goods imported by the Company sum
of Rs.53.00 lacs to Rs.69.84 lacs and consequently imposed fine,
penalty and differential duty aggregating to Rs.13.11 lacs. The Company
has preferred an appeal against the said order before the Appellate
Tribunal In view of the legal opinion received by the Company, the
Company is advised that it has very strong case on merits and hence no
provision has been made.
3. The Assistant Commissioner of Customs, Kolkata had issued a
showcause notice under the Customs Act, 1962 on 16.08.2004 intending to
impose an anti-dumping duty of Rs. 13,15,862/- on certain goods
imported by the Company. The Company has refutted the same before the
Commissioner of Customs (Port), Kolkata. Also the Company has obtained
the legal opinion and is advised that it has very strong case on merits
and hence no provision has been made.
4. Fixed Deposit with scheduled Bank have been pledged to a Bank
against bank guarantee issued by the Bank to the third party.
5. Information pursuant to the provisions of paragraph 3, 4C & 4D of
part II of Schedule VI of the Companies Act, 1956.
A) There is no licensed or installed capacity.
i B) Particulars in respect of Raw Materials, production & Sales etc. :
6. Provision For Taxation :
(a) In accordance with the requirement under the Accounting Standard
(AS-22) relating to the deferred tax, the deferred tax Assets at the
year end works out to be in the region of Rs.1,98,763/- (as on
01.04.2009 Asset Rs. 31,366/-) and the same has not been recognized in
the accounts.
7. Segment Reporting : Primary Segment
Based on the guiding principle given in the Accounting Standard - 17
"Segment Reporting" issued by the Central Government the Companys
primary segment are Silk Textile, Financial Activities & Synthetic
Organic Dyes. The above business segments have been identified
considering : i) The nature of products ii) The related risks and
returns iii) The internal financial reporting systems
Revenue and expenses have been accounted for based on the basis of
their relationship to the operating activities of the segment. Revenue
and expenses, which relate to the enterprise as a whole and are not
allocable to segments on a reasonable basis, have been included under
"Unallocable Expenses", Assets and liabilities which relate to the
enterprise as a whole and are not allocable to segments on a reasonable
basis, have been included under "Unallocable Assets/Liabilities".
8. In respect of the investments, in the opinion of the Board, the
year end diminution value (estimated to be in the region of Rs. Nil
(P.Y. - 31,09,794/-) is on account of temporary market features and
these being long term investments, no provision has been deemed
necessary.
9. Sundry Creditors include amount due to MICRO, Small & medium
Enterprises as on 31.03.2009 - Nil (P.Y - Nil).
10. The Company has examined carrying cost of its identified Cash
Generating Units (CGU) by compairing present value of estimated future
cash flow from such CGU in terms of Accounting Standard 28 on
impairment of assets according to which no provision for impairment is
required as assets of non of C G U are impaired during the financial
year ended 31st March 2010.
11. Related Party Disclosure :
(Parties with whom transactions have taken place during the year.)
Name of Related parties : Nature of Relationship
i) Enterprise Finance Limited Associates of the Company
ii) Shree Shelter Private Limited Associates of the Company
iii) Ganesh Awas Private Limited Associates of the Company
(iv) Gopal Das Sarda Key Management Person
(v) Aditya Sarda Key Management Person
(vi) Brijlata Sarda Directors relative
The above parties are related parties in the broader sense of the term
and are included for making the financial statements more transparent.
12. Figures of previous year have been rearranged, regrouped,
whererver necessary.