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Notes to Accounts of Gaurav Mercantiles Ltd.

Mar 31, 2015

1. RELATED PARTY DISCLOSURES

Related Party disclosure have been submitted where there were financial transactions during the year:

a. Key Management Personnel & their Relatives

i. Pratap Singh Bohre.

ii. Tarun Bohra

iii. Dilip Bohra

2. DETAIL OF MANAGERIAL REMUNERATION

During the last financial year No Remuneration/ Sitting fees paid to any directors of company.

3. SEGMENT IOFORMATION

The company is involved line business of ship breaking & of d machinery mismanaging, which is the only business segment of the company. However in fees current year due to lack of business opportunities no ship was purchaesd for dismantling and the company has earned against sale of Import license & interest income based on guiding principles given is the AS-17 on segment reporting, as specified in the companies (Accounting standards) Rules 2006 being only business segment, no segment information ' thereof is given.

4. In the opinion of the Management the Current Assets, Loans & Advances approximately are of the value stated if realized in the ordinary course of business.

5. The Company has not receded any intimation If on suppliers regarding their status under the Micro, Small and Medium Enterprises Development Act, 2005 and hence disclosures, if any. relating to amounts unpaid as at the year end together with interest paid/ payable an required under the said Act have not been given,

6. PROVISIONS & CONTINGENT LIABILITIES

The Company recognizes a provision when there is a present obligation as a result of a past event that probably requires an outflow of resources and a reliable estimate can be made of the amount of the obligation. A disclosure or a concerned liability is made when there is a possible obligation or e present obligation that they, but probably would not require an outflow of recourses. Where there in a possible obligation or a present obligation that the likelihood of outflow of resources is remote, no provision or disclosure is made.


Mar 31, 2014

1. RELATED PARTY DISCLOSURES

Related Party disclosure have been submitted where there were financial transactions during the year:

a. Associates -

Bohra Ventures Pvt. Ltd.

b. Key Management Personnel & their Relatives

i. Pratap Singh Bohra

ii. Tarun Bohra

iii. Kamal Singh Baid

iv. Nikhil Bohra

2. SEGMENT INFORMATION

The company is involved in the business of ship breaking & old machinery dismantling, which is the only business segment of the company. However in the current year, due to lack of business opportunities no ship was purchased for dismantling and the company has earned only interest income. Based on guiding principles given in the AS-17 on segment reporting, as specified in the companies (Accounting standards) Rules, 2006, being only business segment, no segment information thereof is given.

3. In the opinion of the Management, the Current Assets, Loans & Advances approximately are of the value stated if realized in the ordinary course of business.

4. 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 yearend together with interest paid/payable as required under the said Act have not been given.

5. PROVISIONS & CONTINGENT LIABILITIES

The Company recognizes a provision when there is a present obligation as a result of a past event that probably requires an outflow of resources and a reliable estimate can be made of the amount of the obligation. A disclosure for a contingent liability is made when there is a possible obligation or a present obligation that may, but probably will not, require an outflow of resources. Where there is a possible obligation or a present obligation that the likelihood of outflow of resources is remote, no provision or disclosure is made.

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


Mar 31, 2013

1 RELATED PARTY DISCLOSURES

Related Party disclosure have been submitted where there were financial transactions during the year:

a. Related Party -

i. Bohra Venturas Pvt. Ltd. #

b. Key Management Personnel & their Relatives

i. P.S.Bohra

ii. Tarun Bohra

iii. Komal Singh Baid

2. DETAILS OF MANAGERIAL REMUNERATION

During the last financial year, no Remuneration/Sitting Fee paid to any Directors of Company.

3. SEGMENT INFORMATION

The company is involved in the business of ship breaking Sold machinery dismantling, which is the only Business segment of the company. Based on guiding principles given in the AS - 17 on Segment reporting, as specified in the companies {Accounting Standards) Rules, 2006, being only business segment, no segment information thereon given.

4. In the opinion of the Management, the Current Assets, Loans & Advances approximately are of the value stated if realized In the ordinary course of business.

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

6. PROVISIONS & CONTINGENT LIABILITIES

The Company recognizes a provision when require is a present obligation as a result of a past event that .probably requires an outflow of resources and a reliable estimate can Le made of the amount of the obligation, A disclosure for a contingent liability is made when there is a possible obligation or a present obligation that may: but probably will not, -"equine an outflow of resources. Where there is a possible obligation or a present obligation that the fake hood of outflow of resources is remote, no provision or disclosure is made.

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


Mar 31, 2012

1. RELATED PARTY DISCLOSURES

a. Related companies where common control exists

i. Bohra Exports Pvt.Ltd.

ii. Bohra Ventures Pvt.Ltd.

iii. Modisch Commodities P.Ltd.

iv. Rezcom Realty P.Ltd.

b. Key Management Personnel & their Relatives

i. P.S. Bohra

ii. Vivek Bohra

iii. Nikhil Bohra

2. DETAIL OF MANAGERIAL REMUNERATION

During the last financial year, no Remuneration/Sitting Fee paid to any Directors of Company

3. AUDITOR'S REMUNERATION

Included under office & administrative Expenditure

4. SEGMENT INFORMATION

The company is mainly involved in the business of ship breaking which is the only business segment of the company. Based on guiding principles given in the AS - 17 on Segment- Reporting as specified in the companies (Accounting Standard) Rules, 2006. Being on business segment, no segmental information thereof is given.

5. In the opinion of the Management, the Current Assets, Loans & Advances approximately arms of the value stated if realized in the ordinary course of business.

6. As per the information available with the Company, there are no dues outstanding include: B interest as on 31st March, 2012 to Small and Micro enterprises as defined under Micro, Small and Medium Enterprises Development Act,2006

7. PROVISIONS & CONTINGENT LIABILITIES

The Company recognizes a provision when there is a present obligation as a result of a passel event that probably requires an outflow of resources and a reliable estimate can be made the amount of the obligation. A disclosure for a contingent liability is made when there is a possible obligation or a present obligation that may, but probably will not, require an outflow off resources. Where there is a possible obligation or a present obligation that the likelihood outflow of resources is remote, no provision or disclosure is made.

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


Mar 31, 2011

1. Tax Deducted at Source on Interest is Rs.122488 (Previous year Rs. 32,596)

2 The Company has adopted Accounting standard (AS) -22- "Accounting for taxes on Income from the financial year 2005-2006. Accordingly details of major components of Differed Ta: Assets and Differed Tax Liability as on 31.03.2011 is as follows:

3. Detail of Managerial Remuneration During the last financial year, no Remuneration/Sitting Fee paid to any Directors of Company.

4. In the opinion of the Management, the Current Assets, Loans & Advances approximately are of the value stated if realized in the ordinary course of business.

5. As per the information available with the Company, there are no dues outstanding including interest as on 31 st March, 2011 to Small and Micro enterprises as defined under Micro, Small and Medium Enterprises Development Act,2006

6. Segment Information The Company has earned Interest Income and has only one segment.

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

 
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