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Accounting Policies of Indsoya Ltd. Company

Mar 31, 2014

1.1 i) Basis of accounting:

Generally mercantile system of accounting is followed.

ii) Investments:

a) Investments being long term in nature are valued at cost of acquisition and related expenses such as brokerage and stamp duties.

b) Temporary fall in market value of investment are not provided for

iii) Revenue recognition:

a) Interest income is recognised on a time proportion basis depending upon amount outstanding and the rate applicable.

b) Dividend Income is treated on receipt basis.

c) Sales of shares and debentures are recognised on execution of date of order and Profit/Loss on Sale is considered on identification method basis.

d) Sales is recognized on bill to customers.

iv) a) Fixed Assets are stated at cost of acquisition less depreciation.

b) The depreciation on fixed assets is charged on Written Down Value basis as per rates prescribed in Schedule XIV of Companies Act, 1956.

1.2 In the opinion of the Board, Current Assets, Loans and Advances are approximately of the value stated if realized in the ordinary course of business.

1.3 The Company has mainly activity of trading in commodities except long term investments in shares. Hence income from them and Assets & Liabilities are considered only one segment therefore, Disclosure of segment reporting pursuant to AS - 17 issued by the ICAI is not required.

1.4 In view of applicability of AS - 22, company does not have material deferred liability. Therefore the same is not recognized in the accounts.

1.5 Pursuant to requirement of AS - 18 issued by ICAI the details of transactions carried out during the year with the related parties are disclosed as under

Sr. Name of Party Relationship Nature of Amount No. Transaction (Rs.)

i) Tania Industries Associate Co. Interest Received 2394117 Pvt. Ltd. (3066333)

Purchases 53768952 (61398163)

Advances outstanding 9915454 31/03/14 (9356105)

1.6 No provision for diminutions in market value of investments of Rs. 1939984/-has been made during the year as management is of the opinion that the same is temporary in nature and Investment is considered as long term. Hence no provision is required.

1.7 Sundry debits/credit balances are subject to confirmation and reconciliation if any.

1.8 Accounting Standard by ICAI Earning per Share is calculated as follows:

2013-2014 2012-2013

a) Net Profit available after tax (In Rupees) 1180976 2961852

b) Weighted average number of Equity Shares 200000 200000

c) Basic & Diluted Earning per Share (In Rupees) 5.90 14.81

1.9 Additional Information to be given pursuant to para 3 & 4 of the part II of Schedule VI of the Companies Act, 1956, are not applicable.

1.10 Figures of the previous year have been rearranged and/or regrouped wherever necessary to conform to current year''s presentation.


Mar 31, 2012

I) Basis of accounting:

Generally mercantile system of accounting is followed.

ii) Investments:

a) Investments being long term in nature are valued at cost of acquisition and related expenses such as brokerage and stamp duties.

b) Temporary fall in market value of investment are not provided for

iii) Revenue recognition:

a) Interest income is recognised on a time proportion basis depending upon amount outstanding and the rate applicable.

b) Dividend Income is treated on receipt basis.

c) Sales of shares and debentures are recognised on execution of date of order and Profit/Loss on Sale is considered on identification method basis.

d) Sales are recognized on bill to customers.

iv) a) Fixed Assets are stated at cost of acquisition less depreciation.

b) The depreciation on fixed assets is charged on Written Down Value basis as per rates prescribed in Schedule XIV of Companies Act, 1956.


Mar 31, 2011

I) Basis of accounting:

Generally mercantile system of accounting is followed.

ii) Investments:

a) Investments being long term in nature are valued at cost of acquisition and related expenses such as brokerage and stamp duties.

b) Temporary fall in market value of investment are not provided for

iii) Revenue recognition:

a) Interest income is recognised on a time proportion basis depending upon amount outstanding and the rate applicable.

b) Dividend Income is treated on receipt basis.

c) Sales of shares and debentures are recognised on execution of date of order and Profit/Loss on Sale is considered on identification method basis.

d) Income of commodities derivatives is recognised on completion of contract.

e) Sales is recognized on bill to customers.

iv) a) Fixed Assets are stated at cost of acquisition less depreciation.

b) The depreciation on fixed assets is charged on Written Down Value basis as per rates prescribed in Schedule XIV of Companies Act, 1956.


Mar 31, 2010

I) Basis of accounting:

Generally mercantile system of accounting is followed.

ii) Investments:

a) Investments being iong term in nature are valued at cost of acquisition and related expenses such as brokerage and stamp duties.

b) Temporary fall in market value of investment are not provided for

iii) Revenue recognition:

a) Interest income is recognised on a time proportion basis depending upon amount outstanding and the rate applicable.

b) Dividend Income is treated on receipt basis.

c) Sales of shares and debentures are recognised on execution of date of order and Profit/Loss on Sale is considered on identification method basis.

d) Income of commodities derivatives is recognised on completion of contract.

e) Sales is recognized on bill to customers.

iv) a) Fixed Assets are stated at cost of acquisition less depreciation.

b The depreciation on fixed assets is charged on Written Down Value basis as per rates prescribed in Schedule XIV of Companies Act, 1956.


Mar 31, 2009

I) Basis of accounting:

Generally mercantile system of accounting is followed.

ii) Investments:

a) Investments being long term in nature are valued at cost of acquisition and related expenses such as brokerage and stamp duties.

b) Temporary fall in market value of investment are not provided for

iii) Revenue recognition:

a) Interest income is recognised on a time proportion basis depending upon amount outstanding and the rate applicable.

b) Dividend Income is treated on receipt basis.

c) Sales of shares and debentures are recognised on execution of date of order and Profit/Loss on Sale is considered on identification method basis.

d) Income of commodities derivatives is recognised on completion of contract.

e) Sales is recognized on bill to customers.

iv) a) Fixed Assets are stated at cost of acquisition less depreciation.

b) The depreciation on fixed assets is charged on Written Down Value basis as per rates prescribed in Schedule XIV of Companies Act, 1956.

 
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