Home  »  Company  »  Kanika Infrastructur  »  Quotes  »  Notes to Account
Enter the first few characters of Company and click 'Go'

Notes to Accounts of Kanika Infrastructure & Power Ltd.

Mar 31, 2010

1) Additional information pursuant to provision of Schedule VI to the Companies Act, 1956 :

Current Previous year year

V. Contingent Liabilities Rs. Nil Nil in respect of Bank Guarantee from Bank of Baroda

2) As no commission is payable to Managing Director or any Director, the computation of profits under Section 349 of the Companies Act, 1956 has not been made.

3) In respect of products sold by the company during the period and where it is an obligation on the part of the company to provide after sales services, the company is accounting the same on the basis of as and when incurred. The estimated liability in respect of the same cannot be quantified at this stage and as such no provision has been made for such liability.

4) RELATED PARTY DISCLOSURE AS PER ACCOUNTING STANDARD - 18

(B) Disclosure of Director's Interest in Other Concerns (Directorship):

SUNIL KR. MALL SHYAM SUNDAR MALL

SUNIL AGRO EXPORTS LTD. SUNIL AGRO EXPORTS LTD.

SUNIL ALLOYS & STEELS LTD. SUNIL ALLOYS & STEELS LTD.

SUNIL ENERGY LTD. SUNIL ENERGY LTD.

TRAVENUE TOURS & TRAVELS LTD. TRAVENUE TOURS & TRAVELS LTD.

VINAYAK EXTRUSIONS LTD. VINAYAK EXTRUSIONS LTD.

BAJRANG MEDICARE LTD. BAJRANG MEDICARE LTD.

MALL SECURITIES LTD. MALL SECURITIES LTD.

(C) 'Transactions with Related Parties : Nil

5) Since the company does not have any Convertible Debenture etc. so the disclosure regarding diluted Earning Per Share as per Accounting Standard-20 is not required.

6) That company has sundry debtors of Rs. 11,87,60,033/- at the end of the year out of which amount equivalent to Rs. 3,86,91,503/- is relates to export and out of export debtors amount equivalent to Rs.2,53,17,325/- is doubtful in nature and no provisions has been made according to accounting standards as the same is related to the RBI permission. However, the company has written to RBI about the matter with the fact and requested to grant permission for the write off of the same as the export proceeds were with held by the foreign entities earlier years due to defective software, software not meeting their requirement. The RBI has put the name of the company in precaution list due to non.realization of the same. Out of the above doubtful export proceeds Rs.1,33,74,178/-is receivable from a wholly owned subsidiary of the company at Singapore. The Singapore subsidiary of the company has not able to sale software equivalent to Rs. 38,45,568/- due to defective and the same is lying with the subsidiary in the stock.

7) CONTINGENT LIABILITIES :-

(a) Claims against the company not acknowledged as Debt - NIL

(b) Provision for bills discounted - NIL

8) The Balance of Sundry Debtors, Sundry Creditors, Advances given and received are subject to confirmation by the parties.

9) Comparative figures of the previous year, wherever necessary, have been regrouped and reclassified to confirm in bracket, with those of the current year.

10) Abstract to the Balance Sheet as per Schedule VI part IV is enclosed.

 
Subscribe now to get personal finance updates in your inbox!