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Notes to Accounts of Justride Enterprises Ltd.

Mar 31, 2014

1. CONTINGENT LIABILITES

As on As on As on 31.03.2014 31.03 2013 31.03.2012

1 contingent liabilites not 60000 60000 60000 provided far Bank Guartmiee in Favour of Sales Tax Authorities

2 Sales Tax Demand tn Appeal

3 Amount Deposited with High Court 25000 55000 55000

2 The company does not have my rofornutiar. scprJing 'Joe xutuv of sopplicn under the micro, Development Act,2006 Bid hence ilnxlosurc*. if nnv, relating to arncml unpaid m. the end tf the year together with interest paid payables as required under the said Act have not been provided

3. There a no micro, small
4. Previous years figures has beet regrouped rearranged wherever considered necessary

5 In die opinion of the Board of duecton, Board of Directors, the Current Assets. Loans and advances have a value of realisation at least equal to the amount at which they are auied in the Balance Sheet and provisions Cor all known liabilities has been made

6. During the current financial year the Company has not inv ested any project

7 The company has not meuired any expend; mrc rr. foreign currency dining the year

8. Dimpg the current financial year no share has been issued by the company whethe- equity or prefrence

9. During the financial year the company had an authorised share capital of Rs five acres forty Lacs divided into 54 lacs equity shares of Rs 10/« each worth Five crores Forty* Lacs

10. During the current financial year no conversion has been made from prefrotcc share to Equity Share raid no any fresh issue has been made

11 DEGERRED TAX

No provision for Deferred tax is creaied m the books as per AS-22. m view of the fact that it a not virtually certain that sufficient taxable income will be available oguimt which deferred tax asset can be realised

12. SEGMENT INFORMATION

The company is engaged m business m indi.i only . which m the context of Accounting Standard 17 of die Segment Reporting issued by the 1CAL is considered u only geographical segment


Mar 31, 2013

1 The company does mol have any information regarding (he status. of suppliers under the micro, Development Act 2006 and hence disclosures, if any. relating to amount unpaid at the end of the yet ocher with instructs paid'' enable as required under the Mid Act above not been provided

2. There is micro small & medium enterprises to whom the company owes dues which are outstanding for more than 45 days as at 31st December 2011 This information as required to be disclosed under the micro small and medium enterprise Development Act 2006 has been date maimed to the extent such parties leave been indentified on the basis of information available with the company.

3. Previous. jeer, logiest hat been regrouped rearranged whether considered necessary

4. Doming the current financial year the Company has not invested any project

5. The company hat not incurred any expenditure n foreign currency dung the year

6. During the caret financial year no share has been issued by the company whether equity or presence

7. During the financial year the company had an authorized share capital of Rs. five crores forty lacs divided in to 54 lacs equity share of Rs.10/- each wroth five cores forty lacs.

8. During the current financial year no conversation has been made from preference share to Equity share and no any fresh issued has been made.

9. DEFERRED TAX

No provision for Deferred tax is created in the books as per AS-22. in via* of the fact that it not virtually clam that sufficient taxable income be available against which deferred tax asset cm be realized

10. CONTINGENT LIABILITES As on As on As on 31.03.2013 31.03.2012 31.03.2011

1. Contingent liability 60000 60000 60000 but provided for bank Guarantee in favor of sales tax authorities

2. Sales Tax Demand in Appeal

3. Amount Deposited with 55000 55000 55000 high court


Mar 31, 2012

1.1 OVERVIEW

Tobu Enterprises Limited was incorporated in 1967 and commenced its operations as a Manufacturing of Tobu Tri- Cycles from F/Year1967-68 in combination with Steel and Plastic.


Mar 31, 2011

I. Claims against the company not acknowledged as debts amounting to Rs. 47,520/- (Previous Year Rs. 47,520/-)

ii. Bank balance of Bank of Madura amounting to Rs. 1,10,628/- has been written off during the

iii. Labour cases are pending against the company in the courts. The total approx liability against the company is to the tune of Rs.48,43,000/-

iv. The company has borrowed a sum of Rs. 175 lacs on interest payable @ 16% on quarterly rests. Due to a dispute no interest has been provided on this loan amounting to Rs.1,39,58,831/- for the year ended 31.03.2011. In addition to this total interest of Rs 6,46,79,136/- pertaining to year 31.03.2001 to 31.03.2010 have not been provided for. Hence loss during the year is understated by Rs.1,39,58,831/-.

v. The company has written off certain doubt full debts, loans and advances and written back sundry creditors during the year amounting to Rs.6,82,061/- (NET). We are unable to comment on this write off.

vi. Figures for the previous year have been regrouped/rearranged wherever considered necessary.

vii. The company has incurred huge financial losses. In the opinion of the Directors, there is no chance of its revival. The company had disposed off substantial part of its fixed assets during the year, which was affected the status of the company as a going concern. However, the company is not planning to acquire any fixed assets to maintain its status as a going concern.

viii. Break- up of employees who are in receipt of remuneration amounting in aggregate to Rs. 24,00,000/- or more, if employed for full year and Rs. 2,00,000/- p.m., if employed for a part of the year Rs.NIL (Previous Year Rs.NIL).

ix. One of the Directors Mr.Hitender Dhaka has absconded with all the Fixed Assets of the company i.e. Machines, Dies & Moulds etc. The Company has filed a Criminal as well as a Civil Case against the above said Director in the Delhi Court.


Mar 31, 2010

I) Contingent liabilities

Contingent liabilities are not provided for in the accounts and are shown separately in notes.

ii. Claims against the company not acknowledged as debts amounting to Rs.47.520/-(Previous year Rs.47.520)

iii) The company has borrowed a sum of Rs.175 lacs on interest payable @ 16% on quarterly rests, due to a dispute no interest has been provided on this loan amounting to Rs.1,19,32,063/- for the year ended 31.03.2008. Further interest of Rs.25.24.487 in the pertaining to the year ended 31.03.2001 Rs,34.01.331/- Pertaining to year ended 31.0.2002 and Rs.39.79.076/- pertaining to year ended 31.03.2003 and Rs.46,54,955/- pertaining to the year ended 31.03.2004 and Rs.54.45.640/- pertaining to the year ended 31.03.2005 and Rs, 63,70,628 pertaining to the year ended 31.03.2006 and Rs74.5.733/- pertaining to the year ended 31.03.2007 and Rs,87,18,644/- pertaining to the year ended 31.03.2008 and Rs.1,01,99,579/- pertaining to the year ended 31.03.2009 were also not provided for. Hence loss during he year is understated by Rs.1.19,32,063/-

iv) No provisions has been made in the accounts for doubt full debts, loans and advances amounting to Rs.24,79,683/- (Previous Year Rs.24,79,683) Out of the above legal cases for Rs.10,82,904/-(Previous Year Rs,10,82,904/-)m field by the company are pending Income Tax Matters under appeal.

v. Figures for the previous year have been regrouped rearranged wherever considered necessary.

 
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