Mar 31, 2014
1. Companies Overview;
Hindustan Appliances Limited (the company) is a public Limited company
incorporated under the provisions of the companies Act, 1956 vide CIN:
L18101MH1984PLC034857
2. Provision for accruing of liabilities for gratuity in terms of
Accounting Standard 15 [AS-15 (revised 2005)] "Accounting for Employee
Benefits" issued by The Institute of Chartered Accounts of India has
not been made in the accounts. The figure of which is not
ascertainable. However same is accounted on cash basis.
3. In accordance with the pronouncements of Accounting Standard 22 :
Accounting for Taxes deferred tax is recognized, subject to
consideration of prudence, on timing differences, being difference
between the taxable and accounting income/expenditure that originate in
one period and are capable of reversal in one or subsequent period.
In view of reasonable uncertainty as to the utilization of deferred tax
assets in the foreseeable future in relation to carry forward capital
Loss under tax laws the same has riot been recognized in books of
accounts as per para 17 of the said standard:
4. Related Party Transactions
Related party disclosure in accordance with the Accounting Standard
18-issued by the Institute of chartered Accountants of India is as
under
5. Balances in respect of Loans & advances in most of the cases are
subject to confirmations, reconciliations and adjustments, if any.
6. In the opinion of the management Loans & Advances have a value on
realization in the ordinary course of the business at least equal to
the amount at which they are stated in the books of accounts.
7. The previous year''s figures have been regrouped & recast wherever
necessary to make them comparable.
Mar 31, 2013
Companies Overview:
Hindustan Appliances Limited (the company) is a public Limited company
incorporated under the provisions of the companies Act, 1956 vide CIN :
L18101M1I1984PLC034857
1.1 Balances in respect of Loans & advances and Liabilities in most of
the cases are subject to confirmations, reconciliations and
adjustments, if any.
1.2 "The Micro, Small and Medium Enterprises Development Act, 2006"
has come into force from October 2, 2006 which has repealed the
provisions of Interest on delayed payment to Small Scale and Ancillary
Industrial Undertaking Act ,1993.The Company is in communication with
its suppliers to ascertain the applicability of this Act. As on the
date of this Balance sheet, the company has not received any
communications from any of its suppliers regarding the applicability of
this Act to them. This has been relied upon by the Auditors.
1.3 :ln view of Uncertainty as to utilization of Deferred Tax assets
in relation to Long term and short term capital loss the same is not
recognized in the financial statement considering prudence and
conservative accounting basis.
1.4 The Company does not have any operational Business and Hence
Segment reporting is not applicable to the company.
1.5 Related party disclosure in accordance with the Accounting
Standard 18-issued by the Institute of chartered Accountants of India.
1.6 In the opinion of the management. Loans & Advances have a value on
realization in the ordinary course of the business at least equal to
the amount at which they are stated in the books of accounts.
1.7 Previous year''s figures have been regrouped recast and
reclassified wherever necessary to make them comparable with the
figures of current year.
Mar 31, 2012
Companies Overview:
Hindustan Appliances Limited (the company) is a public Limited company
incorporated under the provisions of the companies Act, 1956 vide CIN :
L18101MH1984PLC034857
1.1 In the opinion of the management, Current Assets, Loans &
Advances, in most of the cases are subject to confirmations,
reconciliations and adjustments, if any and have a value on realization
in the ordinary course of the business at least equal to the amount at
which they are stated.
1.2 Dues to Micro Small and Medium Enterprises:
The Company does not possess information as to which of its suppliers
are ancillary' Industrial undertaking/ small scale undertaking holding
permanent registration on certificate issued by the director of the
industrial of state or union territory consequently the liabilities if
any, of interest which would be payable under interest on deferred
payment to small scale land ancillary industrial undertaking ordinance,
1992 cannot be ascertained.
However the Company has not received any claim in respect of interest
from such suppliers.
1.3 :Calculation of deferred tax (Assets)/Liabilities.(Net) as on 31st
March, 2012 : In view of Uncertainty as to utilization of Deferred Tax
assets in relation to Long term and short term capital loss the same is
riot recognized in the financial statement considering prudence and
conservative accounting basis.
1.4. The Company does not have any operational Business and Hence
Segment reporting is not applicable to the company
1.5 Related party disclosure in accordance with the Accounting
Standard 18-issued by the Institute of chartered Accountants of India.
Note : related party relationship is as identified by the company and
relied upon by the auditor.
1.6 C.I.F. value of import: Rs. Nil (Previous Year Rs. NIL).
1.7 F.O.B value of goods exports: Rs. Nil (Previous year Rs. Nil).
1.8 Expenditure in foreign currency: Rs. Nil (Previous year Rs. Nil) .
1.9 Earnings in foreign currency: Rs. Nil (previous year Rs. Nil)
1.10 Earning per Shares.(EPS)
1.11 Previous year's figures have been regrouped recast and
reclassified wherever necessary to make them . comparable with the
figures of current year.
Mar 31, 2010
1. The Company is a Non Banking Financial Institution in terms of
section 45 I (C) of the Reserve Bank of India Act, 1934. As per the
last audited accounts of the Company for the year ended March 31, 2010,
the financial assets of the Company are more than 50% of its total
assets and income from financial assets are also more than 50% of the
gross income. Thus, the company has the business of a Non - Banking
Financial Company (NBFC) as its principal business and is required to
be registered as an NBFC with Reserve Bank of India. The company has
not applied for and obtained any such registration.
2. Additional information pursuant to provision of paragraphs 3, 4, 4C
& 4D of part II of Schedule VI of the companies Act, 1956 is given to
the extent applicable.
3. "The Micro, Small and Medium Enterprises Development Act, 2006" has
come in to force from October 2, 2006 which has repealed the provisions
of Interest on delayed payment to small scale and ancillary Industrial
undertaking Act ,1993
The Company is in communication with its suppliers to ascertain the
applicability of this Act. As on the date of this Balance sheet, the
company has not received any communications from any of its suppliers
regarding the applicability of this Act to them. This has been relied
upon by the Auditors.
4. The Company is having one business segment i.e. Finance Activities
and Hence Segment reporting is not applicable to the company.
5. Calculation of deferred tax (Assets)/Liabilities (Net) as on 31st
March, 2010 : In view of Uncertainty as to utilization of Deferred Tax
assets in relation to Long term and short term capital loss the same is
not recognized in the financial statement considering prudence and
conservative accounting basis.
6. AUDITORS REMUNERATION
PARTICULARS CURRENT PREVIOUS
YEAR YEAR
a) Audit fees & Tax Audit Fees 50,000.00 50,000.00
TOTAL RS. 50,000.00 50,000.00
7. Balances of Loans and advances, Current Liabilities and other
liabilities are subject to confirmation, reconciliation and
adjustments, if any and are stated at their recoverable value.
8. Expenditure incurred on employees who were in receipts of
remuneration in the aggregate at the rate not less than Rs.24,00,000/-
per year or Rs. 2,00,000/- per month for any period Rs. Nil.
9. Managerial remuneration under section 198 of the Companies Act,
1956 to a director is as follows:
Particulars 2009-2010 2008-2009
fa) Salary & Allowances NIL NIL
(b) 1 Commission NIL NIL
The Computation of profit u/s.309(5) of the companies Act,1956 has not
been given as no commission is payable to Directors.
10. C.I F. value of import: Rs. Nil (Previous year Nil)
11. Expenditure in Foreign currency: Rs. Nil (previous year Nil)
12. Remittance in Foreign currency: Rs . Nil (previous year Nil)
13. FOB value of goods exported : Rs. Nil (previous year Nil)
14. Previous years figures have been regrouped, recast and
reclassified wherever necessary to make them comparable with the
figures of current years.
15. Related party disclosure in accordance with the Accounting
Standard 18-issued by the Institute of chartered Accountants of India.
A) RELATIONSHIP:
SUBSIDIARY COMPANIES:
Jogindra Exports Limited Subsidiary
Kshnika Trading Limited Subsidiary
ASSOCIATED COMPANIES : Nil
KEY MANAGERIAL PERSONNEL & THEIR RELATIVES
Shri Sunil Hirji Shah Director
Shri Mehul Jadavji Shah Director
Shri Sanjay A. Desai Director
Shri Kalpesh R. Shah Director
Shri Ravindra Kanji Mytra Director
Note : related party relationship is as identified by the company and
relied upon by the auditor.