Home  »  Company  »  Gratex Industrie  »  Quotes  »  Notes to Account
Enter the first few characters of Company and click 'Go'

Notes to Accounts of Gratex Industries Ltd.

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.

Get Instant News Updates
Enable
x
Notification Settings X
Time Settings
Done
Clear Notification X
Do you want to clear all the notifications from your inbox?
Settings X