Home  »  Company  »  IFM Impex Glob  »  Quotes  »  Notes to Account
Enter the first few characters of Company and click 'Go'

Notes to Accounts of IFM Impex Global Ltd.

Mar 31, 2014

I. Secured Loan:

There are no secured loans as on 31.03.2014.

ii. Debentures:

The company had issued 10,000 Zero Percent Unsecured Non Convertible Debentures of Rs. 10/- each to its promoters, their friends, relatives & associates prior to the public issue of the company in 1994. During the year the company has renegotiated with the debenture-holders who have agreed to convert the debentures into unsecured loan to be repaid in the first quarter of FY 2014 to the entire satisfaction of the debenture-holders.

iii. Unquoted Investment:

In the absence of balance sheets of various companies, the investments in unquoted shares have

been valued at cost price as on date of Balance Sheet.

v. Remuneration of Directors: Nil

vi. Liabilities and Assets:

a. Balances of Sundry Debtors, Sundry Creditors, and Loan & Advances Recoverable are subject to re- conciliation and confirmation.

b. In the opinion of Board of Directors, the aggregate value of Current Assets, Loans and Advances, in the ordinary course of business, are equal to the amount at which these have stated in the Balance Sheet of even date.

viii. Maximum amount due from Directors, their Relatives & Associates at any time during the year: Impressive Plastic Pvt. Ltd. – Rs. 32.20 Lakhs

ix. None of the employees of the company was in receipts of a remuneration exceeding Rs.60,00,000/- per annum or Rs.5,00,000/- per month, if employed, for part of the year.

x. The Company has not received any interest on Deposit with M/s Arihant Industries Ltd. Ludhiana for last many years; therefore no provision for interest accrued during the current financial year has been made. Total deposits outstanding (Principal), as on 31st March 2014 was Rs. 22,25,000.00.

xi. Previous year figures are regrouped & rearranged wherever required.


Mar 31, 2013

I. Secured Loan:

There are no secured loans as on 31.03.2013.

ii. Debentures:

The company had issued 10,000 Zero Percent Unsecured Non Convertible Debentures of Rs. 10/- each to its promoters, their friends, relatives & associates prior to the public issue of the company in 1994. In view of the precarious financial condition of the company the debenture holders have agreed not to press for their dues till such time that the company has liquid funds.

iii. Unquoted Investment:

In the absence of balance sheets of various companies, the investments in unquoted shares have been valued at cost price as on date of Balance Sheet.

vi. Liabilities and Assets:

a. Balances of Sundry Debtors, Sundry Creditors, and Loan & Advances Recoverable are subject to re- conciliation and confirmation.

b. In the opinion of Board of Directors, the aggregate value of Current Assets, Loans and Advances, in the ordinary course of business, are equal to the amount at which these have stated in the Balance Sheet of even date.

v. None of the employees of the company was in receipts of a remuneration exceeding Rs.60,00,000/- per annum or Rs.5,00,000/- per month, if employed, for part of the year.

vi. The Company has not received any interest on Deposit with M/s Arihant Industries Ltd. Ludhiana for last many years; therefore no provision for interest accrued during the current financial year has been made. Total deposits outstanding (Principal), as on 31st March 2013 was Rs. 22,25,000.00.

vii. Previous year figures are regrouped & rearranged wherever required.


Mar 31, 2012

I. Secured Loan:

There are no secured loans as on 31.03.2012.

ii. Debentures:

The company had issued 10,000 Zero Percent Unsecured Non Convertible Debentures of Rs. 10/- each to its promoters, their friends, relatives & associates prior to the public issue of the company in 1994. In view of the precarious financial condition of the company the debenture holders have agreed not to press for their dues till such time that the company has liquid funds.

iii. Unquoted Investment:

In the absence of balance sheets of various companies, the investments in unquoted shares have been valued at cost price as on date of Balance Sheet.

iv. Liabilities and Assets:

a. Balances of Sundry Debtors, Sundry Creditors, and Loan & Advances Recoverable are subject to re- conciliation and confirmation.

b. In the opinion of Board of Directors, the aggregate value of Current Assets, Loans and Advances, in the ordinary course of business, are equal to the amount at which these have stated in the Balance Sheet of even date.

v. None of the employees of the company was in receipts of a remuneration exceeding Rs.60,00,000/- per annum or Rs.5,00,000/- per month, if employed, for part of the year.

vi. The Company has not received any interest on Deposit with M/s Arihant Industries Ltd. Ludhiana for last many years; therefore no provision for interest accrued during the current financial year has been made. Total deposits outstanding (Principal), as on 31st March 2012 was Rs. 22,25,000.00.

vii All the funds raised as well as the repayments of the short term loans on credit cards belonging to the Managing Director are accounted for in the books of the company. Some of the loan statements remained unreconciled / unconfirmed as on 31.03.2012, consequently any interest/penal liability on these accounts have not been accounted for.

viii. Previous year figures are regrouped & rearranged wherever required.


Mar 31, 2010

I. Secured Loan;

There are no secured loans as on 31.03.2010.

ii. pebentures;

The company had issued 10,000 Zero Percent Non Convertible Debentures to its promoters, their friends, relatives & associates prior to the public issue of the company in 1994. In view of the precarious financial condition of the company the debenture holders have agreed not to press for their dues till such time that the company has liquid funds.

iii. Unquoted Investment:

In the absence of balance sheets of various companies, the investments in unquoted shares have been valued at cost price as on date of Balance Sheet.

vi. liabilities and ASSStSl

a. Balances of Sundry Debtors, Sundry Creditors, and Loan & Advances Recoverable are subject to re-conciliation and confirmation.

b. In the opinion of Board of Directors, the aggregate value of Current Assets, Loans and Advances, in the ordinary course of business, are equal to the amount at which these have stated in the Balance Sheet of even date.

vii. Additional information pursuant to paragraph 3 & 4 of part II of Schedule VI to the Companies Act, 1956 (as amended).

(a) Capacities Not Applicable

(b) Particulars in respect of

Opening Stock 53,691 Kg.

Closing stock Nil

Sales 53,691 Kg.

Purchase Nil

(c) CIF Value of Imports Nil

(d) Expenditure in Foreign Currency Nil

(e) Earning in Foreign Exchange Nil

ix. None of the employees of the company was in receipts of a remuneration exceeding Rs.24,00,000/- per annum or Rs.2,00,000/- per month, if employed, for part of the year.

x. The following Bank Accounts of the company have been written-off during the year:-

- EEFC Account, OBC, New Delhi

- Oriental Bank of Commerce, New Delhi (Two Current Accounts)

- State Bank of Saurashtra, Veraval

xi. The Company has not received any interest oh Deposit with M/s Arihant Industries Ltd. Ludhiana for last many years; therefore no provision for interest accrued during the current financial year has been made. Total deposits outstanding (Principal), as on 31st March 2010 was Rs. 22,25,000.00.

xii. In view of the company's inability to raise funds for working capital it was forced to raise short term loans on credit cards belonging to the Managing Director. However, the company has not taken any such loans during FY 2009-10. All the funds raised as well as the repayments of the same are accounted for in the books of the company. Some of the loan statements remained unreconciled / unconfirmed as on 31.03.2010, consequently any interest/penal liability on these accounts have not been accounted for.

xiii. Previous year figures are regrouped & rearranged wherever required.

V. Generic Names of Principal Products. Services of Company

Item Code No. 0303

Product Description Fish & Fish Products

Item Code No. Nil

Product Description Agricultural Produce

 
Subscribe now to get personal finance updates in your inbox!