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Notes to Accounts of JMG Corporation Ltd.

Mar 31, 2014

1. Contingent Liability not provided for:

Current Year SPrevious Year a) Bank Guarantee 34,60,290 46,54,158

2. The Trading and Manufacturing division of the company had closed. The entire assets of manufacturing division has been sold by the company and profit of Rs. 4,42,37,624/- has been recognised under the schedule 19 of profit and loss account.

3. The debit and credit balances included under ''Debtors, Loans & Advances Deposit & Creditors'' in the balance sheet are as per ledger.

4. Research and Development :

Revenue Expenditure on development work is charged to P&L A/c. Capital Expenditure is considered as an addition to Fixed Assets and depreciated as indicated herein above.

5. Related Party Disclosure

A Particulars of Related Parties which control or are under common control with the Company.

Name of the Related Party Nature of Relationship

P.K. Nanda Chairman

B. Key Management Personnel.

Name of the Related Party Nature of Relationship

Mr. M D Diwan Whole-Time Director

C. Transactions during the year : Amount paid off to Mr. PK. Nanda that 41.00 lacs. Year end balance of interest free unsecured loan is Nil.

6 Earning per Share

The Earning per share is Rs. 1.54 PY 0.09

The Company has no outstanding Convertible Debenture or Preference shares.

The Company has recognised deferred tax assets on unabsorbed depreciation and carry forward losses to the extent of deferred tax liabilities which has arisen due to timing difference and reversal of which will result in sufficient income against which such deferred tax assets (on unabsorbed depreciation and carry forward losses) can be realised.

7. Additional Information pursuant to provision of part IV of Schedule VI to the Companies Act, 1956. (As Per Annexure)

8. Corresponding Comparative Figures:

Previous year figures has been regrouped and rearranged wherever considered necessary and possible.


Mar 31, 2013

1 Related Party Disclosure

A. Particulars of Related Parties which control or are under common control with the Company. Name of the Related Party Nature of Relationship

P.K. Nanda Chairman

B. Key Management Personnel.

Name of the Related Party Nature of Relationship

Mr. M D Diwan Whole-Time Director

C. Transactions during the year : 41.00 lacs (Interest free unsecured loan taken from Sh. P.K Nanda) Year end balance of Interest free unsecured loan taken from Sh. P.K Nanda is Rs. 41.00 lacs.

2 Earning per Share

The Earning per share is Rs. 0.09 PY (0.10)

The Company has no outstanding Convertible Debenture or Preference shares.

3. Additional Information pursuant to provision of part IV of Schedule VI to the Companies Act, 1956. (As Per Annexure)

4. Corresponding Comparative Figures:

Previous year figures has been regrouped and rearranged wherever considered necessary and possible.


Mar 31, 2012

1. Contingent Liability not provided for: Current Year Previous Year a) Bank Guarantee 44,07,120 41,61,714

2. The Company has not availed exemption of SSI vide notification 9/2003 under Excise Act.

3. The debit and credit balances included under 'Debtors, Loans & Advances, Deposit & Creditors' in the balance sheet are as per ledger.

4. Research and Development : Revenue Expenditure on development work is charged to P&L A/c. Capital Expenditure is considered as an addition to Fixed Assets and depreciated as indicated herein above.

5. Earning per share: The Earning per share is Rs. (-) (0.10) (PY 0.85)

The Company has no outstanding Convertible Debenture or Preference shares.

6. Additional Information pursuant to provision of part IV of Schedule VI to the Companies Act, 1956. (As Per Annexure)

7. Corresponding Comparative Figures:

Previous year figures has been regrouped and rearranged wherever considered necessary and possible.

 
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