Mar 31, 2015
1. Terms / rights attached to equity shares
The Company has only one class of shares referred to as equity shares
having a par value of Rs. 4/-. Each holder of equity shares is
entitled to one vote per 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. However, no
such preferential amounts exist currently. The distribution will be
inproportion to the number of equity shares held by the shareholders.
2.1 There are no Micro, Small and Medium Enterprises in respect of
whom the Company dues are outstanding for more than 45 days at the
Balance Sheet date. The above information regarding Micro, Small and
Medium enterprises have been determined to the extent such parties
have been identifiable on the basis of information available with the
Company and relied upon by the auditors.
2.2 Trade payables are subject to confirmation from certain parties.
3.1 Salaries and Bonus include Directors' remuneration Rs. NIL ( P.Y.
Rs. NIL) & Mr. Shrikan Behra, Compliance
Officer Rs. 84,000/-(P.Y. NIL) & Ms. Raina Shah, Company Secretary &
Compliance Officer Rs. 1,00,000/-(PY. 28,800/-)
4 Income Taxes:
Provisions for current tax is made in view of the Profit for the year,
in terms of the provisions of the Income Tax Act, 1961.
5 Remuneration Paid/Payable to Directors and other Chief Managerial
Personnel as per Section 217(2A) of the Companies Act, 1956 read with
the Companies (Particulars of Employees) Rules, 1975 as amended, the
number of employees employed for the whole year drawing salary of Rs.
60,00,000/- per annum or more is NIL and the number of employees
employed for part of the year drawing salary of Rs. 5,00,000/- per
month or more is also NIL.
6 In the Opinion of Board of Directors, all the Current Assets, Loans
and Advances have a value on realization in the ordinary course of
Business at least equal to the amount at which they are stated and all
the known liabilities as at the end of year have been provided for.
7 The Project Land situated at Hazoor Hill Grand, Village Peth
Shahpur, Dist. Pune was notified as "Private Forest" land by Forest
Department and therefore the said Land has been categorised as No-
Development Zone. Accordingly the impairment loss of Rs. 10.71 Crore
was charged to the P&L A/c in the earlier years. As on the date of
Balance Sheet, 31st March 2015, there is no improvement in the
impairment conditions, therefore the reversal of the impairment loss
has not been recognized during the year under report. Hence there is
no increase or decrease in the carrying amount of the impaired asset.
8 Segment Reporting:
The Company and its subsidiary operates in a single business segment
in the Real Estate & Infrastructure Development.
9 Related Party Disclosures:
As per Accounting Standard (AS) - 18 of The Companies (Accounting
Standards) Rules, 2006, the list of related parties where control
exists and related parties with whom transactions have taken place and
relationships are as under:
a List of Related Parties and Description of Relationships
i Subsidiary
M/s. Aambey Valley Mountains Pvt. Ltd. (100%) (formerly known as
Hazoor Aambey Valley Developers Pvt. Ltd.) (Aambey Valley Mountains
Private Limited ceased to be Subsidiary of the Company w.e.f 30th
June, 2015)
ii Companies in which promoters have significant influence M/s. Eaugu
Udyog Ltd.*
M/s. Mantra Day Traders Pvt. Ltd.*
M/s. Fortune Point Exports Pvt. Ltd.*
M/s. Parle Software Ltd.
M/s. Optilum Business Enterprises Pvt. Ltd.
iii Key Management Personnel
Mr. V.I.Garg Managing Director
Mr. Vineet Garg Executive Director, Chief Financial Officer,
Ms. Raina Shah Company Secretary & Compliance Officer (resigned
w.e.f. 30.09.2014)
Mr. Shrikant Behera Compliance Officer ( resigned w.e.f. 31.03.2015)
Mr. Pradeep Vyas Company Secretary & Compliance Officer (appointed
w.e.f. 01.04.2015)
iv Others
Mrs. Chanda V. Garg Woman Director (appointed w.e.f. 31.03.2015)
Note: Related party relationships are identified by the Company and
relied upon by the Auditors.
10 Quantitative Information: The provisions of clause are not
applicable to the company and hence no Quantitative details are given.
11 Retirement Benefits: The provisions of payment of Gratuity Act,
1972 are not applicable to the company.
12 There are no amounts due and outstanding to be credited to Investor
Education and Protection Fund.
13 Details of Loans given, Investment made and Guarantee given covered
under section 186(4) of the Companies Act, 2013:
(i) The Company has not given any loans or guarantees.
(ii) No Investment made by the Company as at 31st March, 2015.
14 The provisions of PF / ESIC Act are not applicable to the company.
15 During the year, pursuant to the notification of Schedule II to the
Companies Act, 2013 with effect from April 01, 2014, the Company
16 Figures have been rounded off to nearest rupee wherever applicable.
The figures in brackets are those in respect of the previous
17 Figures for the previous year have been regrouped wherever
necessary to conform to the current year / period's classification.
Mar 31, 2013
1 In the Opinion of Board of Directors, all the Current Assets. Loans
and Advances have a value on realization in the ordinary rose of
Business at least equal to the amount at which there are received and
nil the known liabilities as at the end of year have been provided for.
2 Segment Reporting:
The Coin puny opiates through its subsidies, us son hip and joint
venture** engaged in the Real Estate Development, which a* per
Accounting Standard* A15- l7 dried to be the only reportable business
segment. The Company is also operating within the same geo segment.
3 Related Party''s:
a List of Related Pat ties and Description of Relationships
i. Promoters Group
M/s. Eaugu I:dvog Ltd.''
M/». Mantra Privy Traders Pvt. Ltd.*
M/s. Fortum1 Point Exports Pvt, Ltd.1
* all the three co-promoters of your company are matinees of the name
"Group*, as that expression is defined in MRTP Art 10&D.
ii. Salesladies
M/s. Hazoor Aambey ValU-y 5Vv.-lc.peva Pvi. Ltd. v..)
M/s. Harwood Township Jewlopoi s Pvt. Ltd. (55"|
iii Unincorporated Joint Ventures (Vl M/s. Hazoor City Developer#
iv Companies m which promoters have significant influence M/s. Parle
Software Ltd.
Opt him Business Enterprises Pvt. Ltd.
2 Quintet Kit live fortuning to it: The provisions of clause 3 if of
Schedule VI of I'' art (I of Companies Act, 1*J56 are not applied to
the company ant hence no Quantitative details are given
4 Retirement Benefits: The provisions of payment of Gratuity Act.
1972 Hide not applicable to the company.
5 There are no amount* due and outstanding to be credited to Investor
Education and Protection Pin id.
6 The Company has no dues to micro small enterprises during the year
ended 31 /03/2013.
7 The provisions of PF / ES1C Art are not applicable to the company.
8 Figures have been reminded off tired Mets rupee wherever
applicable. The figures in brackets are those in respect at the
previous accounted year.
8 Figures for the previous year have been regrouped wherever necessary
to conform to the current year / period''s chewiest.
Mar 31, 2012
1 Dues to Small Scale industrial undertaking: There are no Micro and
Small Enterprises to whom the company owes dues, for more than 45 days
as at March 31st, 2012. This information as required to be disclosed
under the micro, Small and Medium Enterprises development Act, 2006 has
been determined to the extent such parties have been identified on the
basis of information available to the company.
a. Terms / rights attached to equity shares
The Company has only one class of shares referred to as equity shares
having a par value of Rs. 4/-. Each holder of equity shares is
entitled to one vote per 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. However, no
such preferential amounts exist currently. The distribution will be
inproportion to the number of equity shares held by the shareholders.
2 Income Taxes:
- provisions for current tax is made in view of the Loss for the year,
in terms of the provisions of the Income Tax Act, 1961.
3 Remuneration Paid/Payable to Directors and other Chief Managerial
Personnel as per Section 217(2A) of the Companies Act, 1956 read with
the Companies (Particulars of Employees) Rules, 1975 as amended, the
number of employees employed for the whole year drawing salary of Rs.
60,00,000/- per annum or more is NIL and the number of employees
employed for part of the year drawing salary of Rs. 5,00,000/- per
month or more is also NIL.
4 In the Opinion of Board of Directors, all the Current Assets, Loans
and Advances have a value on realization in the ordinary course of
Business at least equal to the amount at which they are stated and all
the known liabilities as at the end of year have been provided for.
5 Segment Reporting:
The Company operates through its subsidiaries, associate and joint
ventures engaged in the Real Estate Development, which as per Accounting Standards AS-l7-'Segment Reporting' is considered to be the only
reportable business segment. The Company is also operating within the
same geographical segment.
6 Quantitative Information: The provisions of clause 3 (ii) of
Schedule VI of Part II of Companies Act, 1956 are not applicable to the
company and hence no Quantitative details are given.
7 Retirement Benefits: The provisions of payment of Gratuity Act, 1972
are not applicable to the company.
8 There are no amounts due and outstanding to be credited to Investor
Education and Protection Fund.
9 The Company has no'dues to micro small enterprises during the year
ended 31/03/2012.
10 The provisions of PF / ESIC Act are not applicable to the company.
11 Figures have been rounded off to nearest rupee wherever applicable.
The figures in brackets are those in respect of the previous accounting
year.
12 Figures for the previous year have been regrouped wherever necessary
to conform to the current period's classification.
Aug 31, 2010
1. Capital Commitment à Rs NIL (P.Y. 3.03 Crores) in respect of the
Joint Venture Project by Hazoor City Developers.
2. Remuneration Paid/Payable to Directors and other Chief Managerial
Person:
As per Section 217(2A) of the Companies Act, 1956 read with the
Companies (Particulars of Employees) Rules, 1975 as amended. The number
of employees employed for the whole year drawing salary of Rs.
24,00,000/- per annum or more is NIL and the number of employees
employed for part of the year drawing salary of Rs. 2,00,000/- per
month or more is also
NIL.
3. The provisions of PF / ESIC Act are not applicable to the company.
4.In accordance with the provisions of the Accounting Standard Ã28 on
Impairment of Assets notified by the Companies (Accounting Standards)
Rules 2006, the Company had identified certain fixed assets in previous
year, that were impaired mainly on account of conditions prevailing in
real estate market, affecting the value of such assets. Accordingly
during current year no amount of impairment Loss/Reversal has been
recognized and provided in the profit and loss account (Previous Year
loss of Rs. 574.21 lakhs) in respect of Hazoor Hill Grand.
5. Segment Reporting:
The Company operates through its subsidiaries, associate and joint
ventures engaged in the Real Estate Development, which as per
Accounting Standards AS-17-ÃSegment Reporting is considered to be the
only reportable business segment. The Company is also operating within
the same geographical segment.
6. Related Party Disclosures: a). List of Related Party and
relationships i. Subsidiaries
M/s. Hazoor Aambey Valley Developers Pvt. Ltd. M/s. Hazoor Township
Developers Pvt. Ltd.
ii. Partnership Firm of Subsidiary (HTDPL) M/s. Zero Developers
iii. Unincorporated Joint Ventures (JV) M/s. Hazoor City Developers
M/s. Hazoor Multi Corp.
iv. Associates
M/s.Infra Engineers & Contractors. M/s.Land Aggregators and Realtors.
v. Companies in which promoters have significant influence Parle
Software Ltd. Optilum Business Enterprises Pvt.Ltd.
vi. Key Management Personnel
Mr. V.I.Garg CEO, Director
Mr. Ashish Garg .Managing Director
Mr. Vineet Garg .Executive Director
Mr. Dinesh Modi . Company Secretary
Note: Related party relationships are as identified by the Company and
relied upon by the Auditors.
7. Quantitative Information: The provisions of clause 3 (ii) of
Schedule VI of Part II of Companies Act, 1956 are not applicable to the
company and hence no Quantitative details are given.
8. Retirement Benefits: The provisions of payment of Gratuity Act,
1972 are not applicable to the company.
9. The Company carries out the development activities through various
projects that are executed / undertaken through its Associates, Joint
Ventures, etc. The company has not incurred any direct cost for
execution of such projects which are, undertaken by the associates,
joint ventures etc.
10. There are no amounts due and outstanding to be credited to
Investor Education and Protection Fund.
11. Being the initial engagement of the statutory auditors, opening
balances are duly Certified by the management and relied upon by the
auditors.
12. Figures for the previous year have been regrouped wherever
necessary to conform to the current years classification.
13. Figures have been rounded off to nearest rupee wherever
applicable.
14. The figures in brackets are those in respect of the previous
accounting year.
Aug 31, 2009
1. Capital Commitment - Rs 3.03 Crores (P.Y. 8.36 Crores) in respect of
the Joint Venture Project by Hazoor City Developers.
2. During the year 3,50,000 equity shares of Rs.4/- each at a premium
of Rs.12/- per share have been allotted on preferential basis to Body
Corporate from public on conversion of equivalent number of warrants
and issue proceeds of Rs. 50.40 lacs have been deployed as per the
objects of the issue. With this there were 46, 25,000 share warrants
pending for conversion and company has extinguished even number of
share warrants and have forfeited Rs.74.00 lacs and it has been
credited to Forfeiture Reserve Account, as warrant holders did not
exercise their conversion rights within 18 months from the date of
issue of share warrants.
3. Remuneration Paid/Payable to Directors and other Chief Managerial
Person:
As per Section 217(2A) of the Companies Act, 1956 read with the
Companies (Particulars of Employees) Rules, 1975 as amended. The number
of employees employed for the whole year drawing salary of Rs.
24,00,000/- per annum or more is NIL and the number of employees
employed for part of the year drawing salary of Rs. 2,00,000/- per
month or more is also NIL.
4. The provisions of PF / ESIC Act are not applicable to the company.
5. In the Opinion of Board of Directors, all the Current Assets, Loans
and Advances have a value on realization in the ordinary course of
Business which may be less than the amount at which they are stated and
all the known liabilities as at the end of year have been provided for.
6. Segment Reporting:
The Company operates through its subsidiaries, associate and joint
ventures engaged in the Real Estate Development, which as per
Accounting Standards AS-17-Segment Reporting is considered to be the
only reportable business segment. The Company is also operating within
the same geographical segment. Hence, disclosures under AS-17 are not
applicable.
7. Quantitative Information:
The provisions of clause 3 (ii) of Schedule VI of Part II of Companies
Act, 1956 are not applicable to the company and hence no quantitative
details are given.
8.Contingent liabilities (not provided for):
Corporate Guarantee issued by the company to banks on behalf of an
Associate amounting to Rs. 124.00 lacs (P.Y. - NIL)
9.Retirement Benefits:
The provisions of payment of Gratuity Act, 1972 are not applicable to
the company.
10.The Company carries out the development activities through various
projects that are executed / undertaken through its Associates, Joint
Ventures, etc. The developments activities through Associates, Joint
Ventures, etc have increased substantially during the
year, which would henceforth continue to grow. The company has not
incurred any cost for execution of such projects which are, undertaken
by the associates, joint ventures etc.
11. Liabilities and Assets:
Balances group under Sundry Debtors, Sundry Creditors, and Loans and
Advances are subject to confirmation from respective parties.
12.There are no amounts due and outstanding to be credited to Investor
Education and Protection Fund.
13.Sundry Creditors (due to SSI Units):
As per the information available with the company, the sundry creditors
do not include any amount due to SSI exceeding Rs. 1 .Lacs outstanding
for more than 30 days.
14. Figures for the previous year have been regrouped wherever
necessary to conform to the current years classification.
15. Figures have been rounded off to nearest rupee wherever applicable.
16.The figures in brackets are those in respect of the previous
accounting year.
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