Mar 31, 2015
1 Corporate Information
Gratex Industries Limited is a listed public limited Company domiciled
in India, incorporated under the Companies Act, 2013. The Company is a
trader, reseller and a whole seller of wall papers and related
products.
2. SHARE CAPITAL
2.1 Terms / Right attached to Ordinary Equity Shares:
The company has a single class of equity shares having a par value of
Rs. 10/- per share. Each holder of equity share is entitled to one vote
per share. The company declares and pays dividend in Indian rupees. The
dividend proposed by the Board of Directors is subject to the approval
of shareholders in the ensuing annual general meeting.
In the event of liquidation of the company, the holders of equity
shares will be entitled to receive the remaining assets of the company
in proportion to the number of equity shares held by each shareholder,
after the settlement of all preferential obligations.
3. RELATED PARTY DISCLOSURES
A. Nature of Relationship :
1. Company's under same management, where control exists:
Marshalls Enterprises India Private Limited (MEIPL)
2. (a) Key Management Personnel (KMP)
Mr. Baldevkrishan Sharma
Mr. Karan Sharma
(b) Relatives of KMP and their enterprises, where transactions have
taken place
Mrs. Promila Sharma
Note: Related party relationships are as identified by the company and
relied upon by the Auditors.
4. DISCLOSURE OF DERIVATIVES
a. No Derivative Instruments were Outstanding at close of the year.
b. Uncovered risks in foreign currency transactions disclosed as at
March, 2014:
5. Debtors, creditors and loans and advance are subjects to
confirmation, reconciliations and adjustment and are considered payable
/ realizable, as the case may be.
6. In the opinion of Board of directors of the company, all items of
current and noncurrent Assets, current and non current Liabilities and
loans and advance continue to have a realizable value of least the
amount at which they are stated in the balance sheets.
7. CONTINGENT LIABILITY (not provided for)
In the opinion of the company it does not have any liabilities, which
have not been provided for.
Mar 31, 2014
1. Corporate Information
Gratex Industries Limited is a listed public limited Company domiciled
in India, incorporated under the Companies Act, 1956. The Company is a
trader, reseller and a wholeseller of wall papers and related products.
2. Terms / Right attached to Ordinary Equity Shares:
The company has a single class of equity shares having a par value of
Rs. 10/- per share. Each holder of equity share is entitled to one vote
per share. The company declares and pays dividend in Indian rupees. The
dividend proposed by the Board of Directors is subject to the approval
of shareholders in the ensuing annual general meeting. the event of
liquidation of the company, the holders of equity shares will be
entitled to receive the remaining assets of the company in proportion
to the number of equity shares held by each shareholder, after the
settlement of all preferential obligations.
3. RELATED PARTY DISCLOSURES
A. Nature of Relationship :
1. Company''s under same management, where control exists:
Marshalls Enterprises India Private Limited (MEIPL)
2. (a) Key Management Personnel (KMP)
Mr. Baldevkrishan Sharma
Mr. Karan Sharma
(b) Relatives of KMP and their enterprises, where transactions have
taken place Mrs. Promila Sharma
Note: Related party relationships are as identified by the company and
relied upon by the Auditors.
4. DISCLOSURE OF DERIVATIVES
a. No Derivative Instruments were Outstanding at close of the year.
b. Uncovered risks in foreign currency transactions disclosed as at
March,2013:
5. Debtors, creditors and loans and advance are subjects to
confirmation, reconciliations and adjustment and are considered payable
/ realizable, as the case may be.
6. In the opinion of Board of directors of the company, all items of
current and noncurrent Assets, current and non current Liabilities and
loans and advance continue to have a realizable value of least the
amount at which they are stated in the balance sheets.
7. CONTINGENT LIABILITY (not provided for)
In the opinion of the company does not have any liabilities, which have
not been provided for.
Mar 31, 2013
1. RELATED PARTY DISCLOSURES
A. Nature of Relationship :
1. Company''s under same management, where control exists: Marshalls
Enterprises India Private Limited (MEIPL)
2. (a) Key Management Personnel (KMP)
Mr.BaldevkrishanSharma Mr. Karan Sharma (b) Relatives of KMP and their
enterprises, where transactions have taken place Mrs. Promila SharmaF
Mar 31, 2012
1 Corporate Information
Gratex Industries Limited is a listed public limited Company domiciled
in India, incorporated under the Companies Act, 1956. The Company is a
trader, reseller and a wholeseller of wall papers and related products.
2.1 Terms / Right attached to Ordinary Equity Shares :
The company has a single class of equity shares having a par value of 7
10/- per share. Each holder of equity share is entitled to one vote per
share. The company declares and pays dividend in Indian rupees. The
dividend proposed by the Board of Directors is subject to the approval
of shareholders in the ensuing annual general meeting.
In the event of liquidation of the company, the holders of equity
shares will be entitled to receive the remaining assets of the company
in proportion to the number of equity shares held by each shareholder,
after the settlement of all preferential obligations.
3. CONTINGENT LIABILITY (Not Provided for)
In the opinion of the management, the company does not have any
liabilities, which have not been provided for.
4. The financial statements for the year ended March 31, 2011 had been
prepared as per the then applicable, pre-revised Schedule VI to the
Companies Act, 1956. Consequent to the notification of Revised Schedule
VI under the Companies Act, 1956, the financial statements for the year
ended March 31,2012 are prepared as per Revised Schedule VI.
Accordingly, the previous year figures have also been reclassified to
conform to this year's classification. The adoption of Revised Schedule
VI for previous year figures does not impact recognition and
measurement principles followed for preparation of financial
statements.
Mar 31, 2011
1. CONTINGENT LIABILITIES :
The contingent liabilities on gratuity payment is not indicated.
As at 31.03.2011 As at 31.03.2010
Payment to Directors -
Directors Sitting Fees 124,000 101,000
Remuneration 1,088,783 1,135,651
No Provision for taxation has been
made in view of carry
forward of losses. - -
Auditors Remuneration - 50,000
Expenditure in foreign currency Euro 437,360 Euro 231,394
USD 116,807 USD 47,161
GBP 5,903 GBP 9,675
2. Information for Goods Manufactured during the year :
Since there is not any manufacture activities running, the Question of
Goods manufacture
3. Information of Raw Material Consumption :
Since there is not any manufacture activities running, the Question of
Raw Material Consumption
4. Information of Opening Stock, Closing Stock and Sale of Goods
manufactured :
Since there is not any manufacture activities running, the Question of
Opening Stock, Closing Stock and Sale of Goods manufactured does not
arise.
5. Breakup of expenditure incurred on employees in respect of
remuneration of not less than Rs.6,00,000/- p.a. is Nil
6. Sundry Debtors/Creditors balances are subject to confirmation.
7. The following items are treated on cash basis in the book of
accounts of the company.
1) Income Tax
2) Duty draw back/cash incentive/excise duty
3) Sales tax set off
4) Refund of Sales tax
5) Interest on Sticky Loans (Litigation in the High Court)
6) Property Tax
8. Previous year's figures have been regrouped/recasted wherever
necessary to confirm this year's classification.
Mar 31, 2010
1. CONTINGENT LIABILITIES :
The contingent liabilities on gratuity payment is not indicated.
As at 31.03.2010 As at 31.03.2009
Payment to Directors-
Directors Sitting Fees 1,01,000 95,000
Remuneration 11,35,651 10,99,475
No Provision for taxation has been
made in view of
carry forward of losses. - -
Auditors Remuneration 50,000 40,000
Expenditure in foreign
currency Euro 2,31,394 2,40,759
USD 47,161 31,441
GBP 9,675 7,196
2. Information for Goods Manufactured during the year :
Since there is not any manufacture activities running, the Question of
Goods manufacture
3. Information of Raw Material Consumption :
Since there is not any manufacture activities running, the Question of
Raw Material Consumption
4. Information of Opening Stock, Closing Stock and Sale of Goods
manufactured :
Since there is not any manufacture activities running, the Question of
Opening Stock, Closing Stock and Sale of Goods manufactured
5. Breakup of expenditure incurred on employees in respect of
remuneration of not less than Rs.6,00,000/- p.a. is Nil
6. Sundry Debtors/Creditors balances are subject to confirmation.
7. The following items are treated on cash basis in the book of
accounts of the company.
1) Income Tax
2) Duty draw back/cash incentive/excise duty
3) Sales tax set off
4) Refund of Sales tax
5) Interest on Sticky Loans (Litigation in the High Court)
6) Property Tax
8. Previous years figures have been regrouped/recasted wherever
necessary to confirm this years classification.