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Notes to Accounts of International Pumps & Projects Ltd.

Mar 31, 2015

1. Terms and rights attached to equity shares

The company has Issued only one class of equity share having a par value of Rs. 10 per share. Each holder of equity shares is entitled to vote per share. The company declares and pays dividend if any, in Indian Rupees. The dividend proposed by the Board or Directors is subject to approval of the shareholders in the ensuing Annual General Meeting.

In the event of liquidation of the company, the holders of equity shares will be entitiled to receive remaining assets of the company, after distribution of all the preferential amount The distribution will be in proportion to the number of equity shares held by the shareholder

2. There is no Micro, Small and Medium Enterprises as defined under Micro, Small &Medium Enterprises Development Act, 2006 to which Company owes dues which are outstanding for a period more than 45 days as on Balance Sheet Date.

The above information regarding Micro. Small and Medium Enterprises has been determined on the basis of information availed with the Company and has been duly relied by the auditors of the Company.

3. Provisions of Accounting Standard (AS) - 17 on 'Segment Reporting' are not been applicable to the Company.

4. In the opinion of the management, the current assets, Loans and advances have a realisable value in the ordinary course of business is not less than the amount at which they are stated in the Balance Sheet.

5. Transaction entered with the related party covered by the Accounting Standard (AS) - 18 on 'Related Party Disclosure' during the period covered by these financial statements.

(a) Related Parties Covered: -

(i) Key Management Personnel Atut Mittal - Director

Abhishek Bansal- Director

Khushboo Agarwal- Director

Anil Kumar Dhand- Director

Asha Hand Sharma- Director

Y.I.P Sehgal- Director

Nishant Sehgal - Director

Prashant Sehgal- Director

(ii) Relatives of Key Management None Personnel

(iii) Enterprises owned or N.P. Investment and Leasing significantly influenced by the Key Pvt. Ltd. Management Personnel or their Relatives

(b) Transaction with Related Parties: - NIL

6. Balance shown under head Sundry Debtors, Creditors and Advances are subject to confirmation,

7. Previous Year's Figures have been re arranged or re- grouped wherever considered necessary.

8. Figures have been rounded off to the nearest rupees.

9. Figures in brackets indicate negative (-) figures unless specified otherwise.


Mar 31, 2014

1. CONTINGENT LIABILITIES

There are no Contingent Liabilities in the Company.

2. There are no Micro, Small and medium enterprises to whom the company owes dues, which are outstanding for more than 45 days as on 31st March, 2013. This information required to be disclosed under the Micro, Small and Medium Enterprises Development Act, 2006, has been determined to the extent such parties have been identified on the basis of information available with the company.

3. Related party disclosures

Information regarding related party transactions as per Accounting Standard AS-18 " Related Party Disclosures" notified by Companies (Accounting Standards) Rules, 2006 (as amended)

List of Related parties

A. Companies/Firm under common control

S.No. Name of the Company/Firm

1. N.P Investment and Leasing Pvt. Ltd.

B. Key Management Personnel and their relatives

S.No. Name Relationship

1. Y.I.PSehgal Director

2. Nishant Sehgal Director

3. Prashant Sehgal Director

4. Abhishek Bansal Director

5. Anil Kumar Dhand Director

6. Asha Nand Sharma Director

4. Figures of previous year have been regrouped or rearranged wherever found necessary and the same are appearing in brackets.






Mar 31, 2012

1. CONTINGENT LIABILITIES

2012 2011 Rs. In Lacs Rs. In Lacs

Bank Guarantees obtained from Banks 21.70 21.70

2. Balances of Sundry Debtors, Sundry Creditors, Loans and Advances and Unsecured Loans are subject to reconciliation and confirmations

3. Long term investments are stated at cost. Diminution in the value of Investments is not provided for, in the opinion of the management, the decline in the value of the investment is temporary in nature.

4. In the opinion of the Board, the 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 and provisions for all known liabilities have been made.

5. a. In accordance with the Accounting Standard 22 relating to Taxes on Income and made applicable with effect from 1st day of April, 2002, the accumulated deferred tax liability as on 1.4.2009 amounting to Rs.3592582.00 is adjusted from General Reserves.

b. Deferred tax assets are not recognised in repsect of brought forward depreciation and business loss in the absence of convincing evidence that sufficient future taxable income will be available against which such brought forward depreciation allowance and business loss will be set off.

6. Related Party Transactions:

As per Accounting Standard No. 18, issued by the Institute of Chartered Accountants of India, related parties in terms of the said standard are disclosed below:

A. Name of Related Parties and description of relationship :

Associates : M/s.N.P. Investment & Leasing Pvt.Ltd.

Key Management Personnel : 1. Mr. Y.I.P. Sehgal

2. Mr. Nishant Sehgal

7. Previous year figures have been regrouped/rearranged whereever found necessary.

8. Schedule No. 1 to 17 are integral part of Balance Sheet and Profit and Loss account.


Mar 31, 2011

1. CONTINGENT LIABILITIES

2011 2010 Rs In Lacs Rs. In Lacs

Bank Guarantees obtained from Banks 21.70 38 97

2. Balances of Sundry Debtors, Sundry Creditors. Loans and Advances and Unsecured Loans are subject to reconciliation and confirmations

3. Long term investments are stated at cost. Diminution in the value of Investments is not provided for, in the opinion of the management, the decline in the value of the investment is temporary in nature.

4. In the opinion of the Board, the 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 and provisions for all known liabilities have been made.

5. a In accordance with the Accounting Standard 22 relating to Taxes on Income and made applicable with effect from 1st day of April, 2002, the accumulated deferred tax liability as on 1.4 2009 amounting to Rs.3552582.00 is adjusted from General Reserves.

6. Deferred tax assets are not recognised in repsect of brought forward depreciation and business loss in the absence of convincing evidence that sufficient future taxable income will be available against which such brought forward depreciation allowance and business loss will be set off.

7. Break up of deferred tax assets and deferred tax liabilities is as under:

8. Related Party Transactions:

As per Accounting Standard No 18, issued by the Institute of Chartered Accountants of India, related parties in terms of the said standard are disclosed below

A Name of Related Parties and description of relationship :

Associates : M/s.N.P Investment & Leasing Pvt.Ltd.

Key Management Personnel : 1 Mr. Y.I.P Sehgal

2 Mr. Nishant Sehgal

9. Previous year figures have been regrouped/rearranged whereever found necessary.

13 Schedule No. 1 to 17 are integral part of Balance Sheet and Profit and Loss account

 
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