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Notes to Accounts of Hazoor Multi Projects Ltd.

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, 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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