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Notes to Accounts of Grovy India Ltd.

Mar 31, 2014

Company has only one class of shafts deferred to as equity shares having; par value of Rs 10/-. Each holder of equity shames is entitled to one vote share

In the event of liquidation of the Company, the holders of equity shares will be entitled to receive any of the remaining assets of the company, after distribution of all preferential amounts. Kowevw, no such preferential amounts exist currently. The distribution will be in proportion to the number of limit shares held by the shareholders.

the opening & dosing balances of the issued, subscribed & paid up are same. Hence no reconciliation is necessary,

Note:- Non- Current Investments are valued at Cost & the Market Value of Non-Current Investments as on 31.03.2014 is / 4423202.5

i:- Provision For DTL/DTA

As per Accounting Standard 22 " Accounting for Taxes on Income" issued by the Institute of Chartered Accountants of India, the Company lies recognized Rs 13431- as Deferred Tax Assets which result from the timing difference between the Book Profiles & the Tax Profits. Details are as follows:-

ii. Secondary Segment information Geographical Segments

The Sales/Sen/ices of the Company are mainly in India, hence there is no reportable Geographical Segments Reporting


Mar 31, 2013

In the opinion of the Board of Directors, the realizable values of Short Term Loans & Advances ill the ordinary course of business is at least equal to the amount stated in the Balance Sheet,

Advance against Property includes a sum of Rs 2,58,500/- (Previous year Rs 2,53,500/-) for which, the company have been undergoing legal proceedings.

Deferred tax assets and liabilities are recognized for the future tax consequences of timing differences subject to consideration of prudence and are measured based on [he tax rates and the tax laws enacted or substantively enacted at the balance sheet date.

a. Earn rigs per share

In determining earnings per share (EPS), the Company considers the net profit after tax and includes the post-tax effect of any extra-ordinary / exceptional item. In absence of any dilutive effect of equity shares the basic and diluted EPS are calculated on the same basis. The number of shares used in computing basic and diluted earnings per share is the weighted average number of shares outstanding during the period.

b. Provisions , Contingent Liabilities and Contingent Assets

Provisions are recognized for liabilities when the Company has a present obligation as a result of past events, a probable outflow of resources is expected to settle the obligation and the amount can be reliably estimated.

Contingent liability is disclosed in the case of:

a) present obligation from the past event when it is not probable that an outflow of resources will be required to settle the obligation;

b) a possible obligation, unless the probability of outflow is remote, Contingent assets are not recognized in the financial statements.

Note 1:- Notre forming part of the Final Accounts for the year ended 31.03.2013.

Related partly disclosure in accordance with Accounting Standard 18 issued by the Institute of Chartered Accountants of India

A. Kev Management Personnel:

S. No, Name of Related Party Nature of Relationship

1 Prakash Chand Jalan Key Management Personnel(KMP)

2 Raj Kumar Jalan Relative of Key Management Personnel 3 R.K Jalan HUF Entity having common control

4 B .R. Agarwala & Co Indi a Ltd Entity having common control

5 Ganesh Commodities Pvt Ltd Entity having common control

6 Ganesh Stock Invest Pvt Ltd Entity having common control

R. Secondary Segticul Information Geographical Segments

The Sales/Services of the company are mainly in India, hence there are no reportable Geographical

2. Previous year' s Figures have been regrouped and rearranged Wherever necessary to confirm, to this year Classification.

3. Previous year's figures have been regrouped and rearranged wherever to confirm, to this year Classification.

4. Contingent Liability'

Claim made by CDSL/NSDL for Rs 65,931/- till the financial year ending 31st March 2012 & Rs 6741/- for the financial year 31st March 2013. The said liability is not acknowledged by the Company.

5. Foreign Currency Transactions

There is no foreign currency transaction during the year


Mar 31, 2012

Contingent liability is disclosed in the ease of:

a) present obligation from the past event when it is not probable that an outflow of resources will be required to settle the obligation;

b) a possible obligation, unless the probability of outflow is remote; Contingent assets are not recognized in the financial statements.

1. Related party disclosure in accordance with Accounting Standard 1S issued by the Institute of Chartered Accountants of India

A. Key Management Personnel:

S. No. Name of Related Party Nature of Relationship

1 Prakash Chand Jalan Key Management Personnel (KMP)

2 Raj Kumar Jalan Relative of Key Management Personnel

3 R.K Jalan HUF Entity having common control

4 B.R Agarwala & Co India Ltd Entity having common control

5 Gauesh Commodities Pvt Ltd Entity having common control

6 Ganesh Stock Invest Pvt Ltd Entity having common control

2. Previous year's figures have been regrouped and recanted wherever necessary to confirm, to this year classification.

B. Secondary are Segment Information Geographical Segments

The Sales/Services of the company are mainly in India, hence there are no reportable Geographical

 
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