Home  »  Company  »  Intl. Housing Financ  »  Quotes  »  Notes to Account
Enter the first few characters of Company and click 'Go'

Notes to Accounts of International Housing Finance Corporation Ltd.

Mar 31, 2013

Note 1.1 : Previous Year''s Figures :

The Revised Schedule VI has become effective from 1st April, 2012 for the preparation of financial statements. This has significantly impacted the disclosure and presentation made in the financial statements. Previous year''s figures have been regrouped / reclassified wherever necessary to correspond with the current year''s classification / disclosure.


Mar 31, 2012

Note 1.1 : Previous Year's Figures :

The Revised Schedule VI has become effective from 1 April, 2012 for the preparation of financial statements. This has significantly impacted the disclosure and presentation made in the financial statements. Previous year's figures have been regrouped / reclassified wherever necessary to correspond with the current year's classification / disclosure.

Note 1.2 :

The balance of sundry creditors and loans and advances are subject to confirmation of respective parties, any adjust- ment, if required, will be made on receipt of the same.

Note 1.3 : In The Opinion Of Board Of Directors :

1 The Current assets, loans and advances are approximately of the value stated, if realised in the ordinary course of business.

2 The provision for all known and ascertained liabilities are adequate and not in excess of the amount reasonably necessary.

3 Expenditure on Employment :

The company had no employee during the year, who were in receipt of remuneration aggregating to :

(1) Not more than Rs. 60,00,000/- for the year, if employee throught the financial year or

(2) Not more than Rs. 5,00,000/- per month, if employee for the part of the financial year

4 Expenditure in Foreign Currency Nil

5 Earning in foreign currency Nil

6 Amount remitted during the year in Foreign Currency Nil Note 12.5 : Income and Expenditure :

The provision of all income and expenses of the year have been done except those which are uncertain.

Note : Figures in bracket relates to the previous year.


Mar 31, 2010

1 Contigent Liabilities not provided for : Rs. NIL (P.Y. Rs. NIL) 2 Capital Contracts remaining to be executed : Rs. NIL (P.Y. Rs. NIL)

3 The previous years figures are re-grouped or re-arranged wherever necessary so as to confirm to the current years classification.

4 The confirmations of some of the parties for the amounts due to them / amount due from them as per books of accounts are not received. Necessary adjustments, if any, will be made when the accounts are recinciled / settled.

5 In The Opinion Of Board Of Directors :

A The Current assets, loans and advances are approximately of the value stated, if realised in the ordinary course of business.

B The provision for all known and ascertained liabilities are adequate and not in excess of the amount reasonably necessary.

D Expenditure on Employment

The company had no employee during the year, who were in receipt of remuneration aggregating to :

(1) Not more than Rs. 24,00,000/- for the year, if employee throught the financial year or

(2) Not more than Rs. 2,00,000/- per month, if employee for the part of the financial year E C I F Value of Imports Nil F Expenditure in Foreign Currency Nil G Earning in foreign currency Nil H Amount remitted during the year in Foreign Currency Nil

6 Income and Expenditure :

The provision of all income and expenses of the year have been done except those which are uncertain.

7 No provision has been made for income tax liability of Rs. 31,77,159/- for the asst year 2000-01, Rs. 2,10,565/- for the asst year 2001-02.

8 Related Party Disclosure :

Name of related parties where control exists irrespective of whether transactions have occurred or not

Relationship Name of the Party Transaction For the Year ended

31-03-2010

Associates B. Nanji Construction - Loan Loan Given 41,809,116

B. Nanji Enterprise - Inter Loan Loan Given 4,83,35,616

B. Nanji Finance Inter loan Loan Given 2,744,943

B. Nanji Power Cables Ltd - Loan Loan Given 29,100

Sandipbhai B. Padsala Loan Given 30,850

Smt. Subhandraben B. Padsala Loan Given 25,000

Aerospace Technologies Pvt. Ltd. Loan Given 1,580,855


Mar 31, 2009

1 Impairment of Assets

The carriying amounts of assets are reviewed at a each balance sheet date, if there is any indication of impairment based on internal/external factors. An impairment loss well be recognised wherever the carrying amount of an assets exceeds its estimated recoverabie amount. The recoverable amount is greater of the assets net selling price and value in use. In assessing the value in use the estimated future cash flows are discounted to the present value at the weighted average cost of capital. During the year there is no impaiment losses on assets of the company.

2 Deferred Tax Assets/ILiabilities)

According the the Accounting Standard (AS-22) on "Accounting for Taxes on Income" issued by the institute of Chartered Accountants of India, the deferred tax assets and liabilities for the year, arising out of timing difference, if any, are reflected in the Profit and Loss Account. The cumulative effect, if any, thereof is shown in the Balance Sheet. The deferred tax assets are recognised only if there is a reasonable certainty that the assets will be realised in the future.

1 Contigent Liabilities not provided for: Rs. NIL (P.Y. Rs. NIL)

2 Capital Contracts remaining to be executed: Rs. NIL (P.Y. Rs. NIL)

3 The previous years figures are re-grouped or re-arranged wherever necessary so as to confirm to the current years classification.

4 The confirmations of some of the parties for the amounts due to them / amount due from them as per books of accounts are not received. Necessary adjustments, if any, will be made when the accounts are recinciled / settled.

5 In The Opinion Of Board Of Directors :

A The Current assets, loans and advances are approximately of the value stated, if realised in the ordinary course of business.

B The provision for all known and ascertained liabilities are adequate and not in excess of the amount reasonably necessary.

6 Remuneration to Auditors : AS AT AS AT 31/03/2009 31/03/2008

A Audit fees 17,500 Rs. 17500/-

B Company Law Charges & Other fees ------ ------

TOTAL 17,500 17,500 7 Additional Information pursuant to the provisions of paragraph 3 & 4 of part II of schedule VI to the Companies act. 1956.

A Stock. Purchase and Sales of Goods

ASAT AS AT

31/03/2009 31/03/2008

Sr. Particulrs

No. Rs. Rs.

1 Opening Stock - -

2 Purchase - -

3 Sales - -

4 Closing Stock - -

B Capacity. Production and Stock

AS AT AS AT

License and installed capacity, production and stock : 31/03/2009 31/03/2008

Rs. Rs. Closing Stock - -

C Value of Imported and Indigenous, Raw material and their percentage ot total Consumption.

Nil

D Expenditure on Employment

The company had no employee during the year, who were in receipt of remuneration aggregating to :

(1) Not more than Rs. 24,00,000/- for the year, if employee throught the financial year or

(2) Not more than Rs. 2,00,000/- per month, if employee for the part of the financial year

E C I F Value of Imports

Nil

F Expenditure in Foreign Currency

Nil

G Earning in foreign currency

Nil

H Amount remitted during the year in Foreign Currency

Nil

8 Income and Expenditure :

The provision of all income and expenses of the year have been done except those which are uncertain.

 
Subscribe now to get personal finance updates in your inbox!