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Notes to Accounts of Global Land Masters Corporation Ltd.

Mar 31, 2014

1.1 Contingent Liabilities

As per the information provided by the management, There are no contingent liabilities as on 31st March, 2014 (Nil)

1.2 In the opinion of the board all the assets do have a value on realization in the ordinary course of business at least equal to the amount at which they are stated.

1.3 Balances appearing under the head "Current Assets", Non-Current Assets and Non-Current Liabilities are subject to confirmation.

1.4 As per the information available with the company as on 31st March, 2014, there are no dues to Micro, Medium and Small Enterprises as per the Micro, Small and Medium Enterprises Development Act.

1.5 The company has accepted / held any deposit during the year, within the purview of provisions of section 58A and 58AA of the company Act 1956 which have not been complied with.

1.6 Going Concern Concept:

Company is in the business of developing Real estate. It intents to construct flats and selling them. It has also received security deposits/ advances booking of these flats.

To further promote business it has entered into various contracts with other societies and have setup various collaborations, joint ventures etc. They are in various stages of advancement in real estate development.

It has also given various advances for purchase of land etc. and also setup various entities which are at various stages of functioning.

The company is newly established in field of real estate and facing teething problem like any other new comers but it is sure that all efforts made will soon start giving the results and the company will be able to stand on its own.

The promoters are committed to bring in any additional capital in case of requirement for the running and success of the company.

1.7 there were no transaction in foreign currency, during the year (previous year-Nil).

1.8 Figures have been rounded of to the near rupee.

1.9 Previous Year figures have been re-arranged/re-grouped wherever considered necessary to confirm to the classification adopted for the current year.

(i) No shares of the Company whether equity or Preference have been issued and subscribed as partly paid

(ii) Preference Shares issued are non convertible and non cumulative

(iii) Preference shares shall be redeemable at par after expiry of 36 months from the date of allotment.

(iv) Preference shares shall carry a fixed rate of Dividend.

(v) Preference shares shall have voting rights in case of resolutions affecting the rights of Preference shares holders

List of Equity shareholders holding more than 5% shares are as follows:

Note-1 Palm Court Global Land Masters Corporation is a patnership firm.M/s Global Land Masters Corporation Limited is a developer with 75% share and Mr. B. Singh,s/o Mr. Dharam Veer Singh is a partner with 25% share M/s Palm Court Global Land Masters Corporation.The profit and loss between the developer and owner shall be 75% :25% the developer has contributed presently Rs. 999000.00 and owner has contributed by giveing land to the firm.

Note-2 Rain Tree Residance Global Land Masters Corporation is a partnership firm in which M/s Global Land Masters Corporation Limited and M/s Kaleshwar Infrastracture Private Limited are Equal partner i.e. 50-50 basis. The profit and loss, as the case may be, shall also be divided on 50-50 basis. Lt Coln. (Retd.) S.S. Deswal is authorized representative of Global Land Masters Corporation Limited and Mr. Vinod Phawa is representative of M/s Kaleshwar Infrastracture Private Limited. M/s Global Land Masters Corporation Limited has invested Rs. 30000000.00. and M/s Kaleshwar Infrastracture Private Limited has not invested anything so far.


Mar 31, 2012

Note-1 Palm Court Global Land Masters Corporation is a partnership firm. M/sGlobal Land Masters Corporation Limited is a developer with 75%shareand Mr. B. Singh, s/o Mr. Dharam Veer Singh is a partner with 25%share M/s Palm Court Global Land Masters Corporation. The profit And loss between the developer and owner shall be 75% :25 the developer has contributed presently Rs.99000.00 and owner has contributed by giving land to the firm.

Note-2 Rain Tree Residance Global Land Masters Corporation is a partnership firm in which M/s Global Land Masters Corporation Limited and M/s Kaleshwar Infrastracture Private Limited are Equal partner i.e. 50-50 basis. The profit and loss, as the case may be, shall also be divided on 50-50 basis. Lt Col (Retd) S S Deswal is authorized representative of Global Land Masters Corporation Limited and Mr. Vinod Kalra is representative of M/s Kaleshwar Infrastracture Private Limited. M/sGlobal Land Masters Corporation Limited has invested Rs. 30000000.00.and M/s Kaleshwar Infrastracture Private Limited has Not invested anything so far.

3.1 Contingent Liabilities

There are no contingent liabilities as on 31st March, 2012 (Nil)

3.2 In the opinion of the board all the assets do have a value on realization in the ordinary course of business at least equal to the amount at which they are stated.

3.3 Balances appearing under the head "Current Assets", Non Current Assets and Non Current Liabilities are subject to confirmation.

3.4 The company has not accepted / held any deposit during the year, within the purview of provisions of section 58A and 58AA of the company Act 1956.

3.5 there were no transaction in foreign currency, during the year (previous year-Nil).

3.6 Figures have been rounded off to the near rupee.

3.7 Previous Year figures have been re-arranged /re-grouped wherever considered necessary to confirm the classification adopted for the current year.


Mar 31, 2010

1. Contingent Liabilities: - There are no contingent liabilities

2 Commitments for capital expenditure:-

The Company has made capital Commitment for capital expenditure for purchases of land & its development of a sum of Rs 59,40,00,000 (net of advances)

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

4. Balances appearing under the head "Current Assets", Loan & Advances and Current Liabilities & provisions are subject to confirmation.

5. The company has not accepted / held any deposit during the period, within the purview of provisions of section 58A and 58AA of the company Act 1956.

6. Managerial Remuneration: The Company has not paid any managerial remuneration during the year.

8. Previous Year figures have been re-arranged/re-grouped wherever considered necessary to confirm to the classification adopted for the current year.

9. The Company did not carry any manufacturing / Trading activity during the period, therefore the provision of paragraphs 3, 4-C & 4-D of part -II OF schedule vi of the company Act 1956 are not applicable.

10. There were no transaction in foreign currency, during the year (previous year-Nill).

11. As per the information available with the Company, as on 31st March, 2010 there are no dues to Micro, Small and Medium Enterprises as per the Micro, Small and Medium Enterprises Development Act, 2006.

12. Figures have been rounded of to the near rupee.

 
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