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Notes to Accounts of India Infraspace Ltd.

Mar 31, 2015

1. Reconciliation of the number of Shares outstanding at the beginning and at the end of the reporting period

2. The Company has only one class of equity shares having a par value of Rs. 10 per share, each shareholder is elligible for one vote per share. The dividend proposed by the Board of Directors is subject to the approval of shareholders, except in case of interim dividend in the event of liquidation, the equity shareholders are eligible to receive the remaining assets of the Company, after distribution of all preferential amounts, in proportion of their shareholding.

3. Company has not alloted any bonus shares, Shares without consideration in cash and/or bought back any equity shares during the priod of five years immediately preceeding the Balance sheet date.

4. Wherever the vouchers / bills / invoices / challans etc. have not been adequately supported or are missing, the Management has certified that the transactions under question are genuine transactions. The Auditors have accepted such certification of the management.

5. In the opinion of the Board of Directors, the value of Current Assets, Loans and Advances have a value on realisation in the ordinary course of business atleast equal to the amount at which, they are stated in the Balance Sheet.

6. During the year the company has granted loan of Rs. 80.60 lacs to the related parties and Rs. 2145.58 lacs to other parties without charging any interest as required under the provision of Section 186 of the Companies Act, 2013. In absence of rate of interest, the amount of the income foregone on such advances could not be quantified in this regard.

7. Sundry Debit and Credit balances are subject to confirmation and reconciliation.

8. Segment Reporting:

The Company's operations covers Infrastructure, Software and Trading of Products, however during the year the company has undertaken mainly Trading Activities which as per Accounting Standards 17 is considered as the only reportable business segment for the year.

9. At present the company is not liable for gratuity.

10. Earning and Outgo in foreign currency : NIL

11. As per Accounting Standard 18, the details of Related Party disclosure is as under:

Related Party

Vishnubhai Chauhan Director

Kintu M. Raichura Director

Naresh B. Shah Director

Pradeep B. Shah Director

Chetna A. Kapadia Director

Shivaansh Estate Pvt. Ltd Associate Concern

Vastupal Steel and Spare Pvt. Ltd. Associate Concern

Vastupal Bearing Races Ltd Associate Concern

Mukta Industries Pvt. Ltd. Associate Concern

Mukta Automation Pvt. Ltd. Associate Concern

Related party relationship is as identified by the management and relied upon by the auditors.

12. Previous year figures have been regrouped and/or rearranged whenever necessary.


Mar 31, 2014

1. The Composite Scheme of Re-organisation of Share Capital and arrangement for revival of the company under the provision of Section 391 to 394 of the Companies Act was approved by Hon''ble High Court of Gujarat on 04.03.2013 and consequently earlier forfeited 21,52,300 shares were re-issued at Rs. 10/- each to Ashnishah Alloys Pvt. Ltd. and Ardent Ventures Pvt. Ltd. equally and further 66,41,076 equity shares were issued to Mr. Pradeep Shah and he is associates/nominees as per the Scheme of Revival of the Company.

2. Wherever the vouchers/bills/invoices/challans etc. have not been adequately supported or are missing, the Management has certified that the transactions under question are genuine transactions. The Auditors have accepted such certification of the management.

3. In the opinion of the Board of Directors, the value of Current Assets, Loans and Advances have a value on realisation in the ordinary course of business atleast equal to the amount at which, they are stated in the Balance Sheet.

4. Sundry Debit and Credit balances are subject to confirmation and reconciliation.

5. Estimated amount of contract remaining to be executed on Capital Account and not provided for Rs. NIL.

6. Segment Reporting:

Information given in accordance with the requirement of Accounting Standard 17, on "Segment Reporting".

7. At present the company is not liable for gratuity.

8. Earning and Outgo in foreign currency : NIL

9. As per Accounting Standard 18, the details of Related Party disclosure is as under:

Related Party :

Vishnubhai Chauhan Director

Kintu M. Raichura Director

Naresh B. Shah Director

Pradeep B. Shah Director

Shivaansh Estate Pvt. Ltd. Associate Concern

Vastupal Steel and Spare Pvt. Ltd. Associate Concern

Vastupal Bearing Races Ltd. Associate Concern

Mukta Industries Pvt. Ltd. Associate Concern

Mukta Automation Pvt. Ltd. Associate Concern

10. Previous year figures have been regrouped and/or rearranged whenever necessary.


Mar 31, 2013

1. The Composite Scheme of Re-organisation of Share Capital and arrangement for revival of the company under the provision of Section 391 to 394 of the Companies Act was approved by Hon''ble High Court of Gujarat on 04.03.2013 and the Scheme is operative from the Current Financial Year, accordingly paid up share capital, balance in profit & loss account and Goodwill / amalgamation short fall account had been adjusted accordingly.

2. Wherever the vouchers / bills / invoices / challans etc. have not been adequately supported or are missing, the Management has certified that the transactions under question are genuine transactions. The Auditors have accepted such certification of the management.

3. In the opinion of the Board of Directors, the value of Current Assets, Loans and Advances have a value on realisation in the ordinary course of business atleast equal to the amount at which, they are stated in the Balance Sheet.

4. Sundry Debit and Credit balances are subject to confirmation and reconciliation.

5. Estimated amount of contract remaining to be executed on Capital Account and not provided for Rs. NIL.

6. Segment Reporting:

Information given in accordance with the requirement of Accounting Standard 17, on "Segment Reporting".

7. At present the company is not liable for gratuity.

8. Earning and Outgo in foreign currency : NIL

9. Previous year figures have been regrouped and/or rearranged whenever necessary.


Mar 31, 2012

1. There is no movement of the shares outstanding at the beginning and at the end of the reporting period.

2. The Company has only one class of equity shares having a par value of Rs. 10 per share, each shareholder is elligible for one vote per share. The dividend proposed by the Board of Directors is subject to the approval of shareholders, except in case of interim dividend in the event of liquidation, the equity shareholders are eligible to receive the remaining assets of the Company, after distribution of all preferential amounts, in proportion of their shareholding.

3. Company has not alloted any bonus shares, Shares without consideration in cash and/or bought back any equity shares during the priod of five years immediately preceeding the Balance sheet date.

1. The company has filed a Scheme of Re-organisation of Share Capital and revival of the company under the provision of Section 391 to 394 of the Companies Act vide Company Petition No. 112 of 2012 before Hon'ble High Court of Gujarat which is pending for Final Order.

Since the appointed date of Scheme is 01.01.2012, and the order on Petition will be received in the Current year, the effect of the Scheme will be given in the finalization of accounts of current Financial Year.

2. Wherever the vouchers / bills / invoices / challans etc. have not been adequately supported or are missing, the Management has certified that the transactions under question are genuine transactions. The Auditors have accepted such certification of the management.

3. In the opinion of the Board of Directors, the value of Current Assets, Loans and Advances have a value on realisation in the ordinary course of business atleast equal to the amount at which, they are stated in the Balance Sheet.

4. Sundry Debit and Credit balances are subject to confirmation and reconciliation.

5. Estimated amount of contract remaining to be executed on Capital Account and not provided for Rs. NIL.

6. Segment Reporting:

The Company's operations predominantly relates to a single segment namely "Infrastructure Activity" which as per Accounting Standards 17 is considered as the only reportable business segment.

7. At present the company is not liable for gratuity.

8. Earning and Outgo in foreign currency : NIL

9. Previous year comparatives

Till the year ended 31st March, 2011, the Company was using pre-revised Schedule VI to the Companies Act, 1956, for preparation and presentation of its financial statements. During the year ended 31st March, 2012, the revised Schedule VI notified under the Companies Act, 1956, has become applicable to the Company. The Company has reclassified previous year figures to conform to this year's classification.


Mar 31, 2011

1. In the opinion of the Board of Directors, the value of Current Assets, Loans and Advances have a value on realisation in the ordinary course of business at least equal to the amount at which, they are stated in the Balance Sheet.

2. Sundry Debit and Credit balances are subject to confirmation and reconciliation.

3. Estimated amount of contract remaining to be executed on Capital Account and not provided for Rs. NIL.

4. Segment Reporting:

The Company's operations predominantly relates to a single segment namely "Real Estate" which as per Accounting Standards 17 is considered as the only reportable business segment.

5. At present the company is not liable for gratuity.

6. Earning and Outgo in foreign currency: NIL

7. Payment to Auditors: Amount (Rs.)

For Audit 11,030/-

For Taxation 5,515/-

8. Since the Company is not a manufacturing Company, information required under clause ac of part II of Schedule VI of the Companies Act,1956 has not been burnished

9. Previous year's figures were re-grouped and rearranged, wherever necessary.

10. Additional information pursuant to part IV of Schedule VI to the Companies Act, 1956 is enclosed.


Mar 31, 2010

1. In the opinion of the Board of Directors, the value of Current Assets, Loans and Advances have a value on realisation in the ordinary course of business at least to the amount at which the are stated in the Balance Sheet. '

2. Sundry Debit and Credit balances are subject to confirmation and reconciliation.

3. Estimated amount of contract remaining to be executed on Capital Account and not provided for Rs.NIL.

4. Segment Reporting:

The Board of Directors of the Company are of the opinion that there are no separate reportable segment as per Accounting Standard 17.

5. At present the company is not liable for gratuity.

6. Earning and Outgo in foreign currency : NIL

7. - Payment to Auditors: Amount (Rs.)

For Audit 5,515/-

8. As per Accounting Standard 18, the details of Related Party disclosure is as under:

Related Party : Javedbag Mirza Director

Rajesh R. Shah Director

Ram Navalrai Chandiramani, Director

9 - Previous year's figures were re-grouped and rearranged, wherever necessary.

10 Additional information pursuant to part ,V of Schedule V, to the Companies Act, 1956 is enclosed. Signature to Schedule 1 to 5

 
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