Mar 31, 2015
1. RELATED PARTY DISCLOSURES
As per Accounting Standard 18, issued by the institute of Chartered
Accountants of India, the disclosures of transactions with the related
parties as defined in tile Accounting Standard are given below :
(1)List of related partes and relationships :
S.NO. NAME of RELATED PARTY RELATIONSHIP
1. Mr Dayaram Khanchandani : Key Management Personnel (KMP)
2. Mrs. Pusiipa Khancliandani: Key Management Personnel (KMP)
3. Mr. Ashok Patni Key Management Personnel (KMP)
4. Mr. Manish Murlidhar Dialam Key Management Personnel (KMP)
5. M.K.Products Partnership firm of KMP
6. Rakhi Khanchandani Relative of Director
7. M/s Square Gem General Trading Related concern of KMP
L.L.C.
8.. M/s Square Textile L.L.C. Related concern of KMP
2. COMTINGEMT LIABILITIES AND COMMITMENTS
Year Ended Year Ended
31.03.2015 31.03.2014
Claims against the Company not
acknowledge as debts NIL NIL
Disputed Income Tax Liability
Pending in Appeals 190380/- 290380/-
3. SEGMENT REPORTING
(I) Segments have been identified in line with the Accounting
Standard-17- "Segment Reporting ' issued by the Institute of Chartered
Accountants of India.
(ii) Tile Business Segment has been considered as the primary segment
for disclosure.
Tile segments have been identified taking into account the nature of
products, the different risks and returns and internal reporting
system. The Geographical Segment based on location of its customers
have been considered as secondary segment for disclosure.
(iii) The segment revenue, segment results, segment assets and segment
liabilities include the respective amounts identifiable to each of tile
segments as also amounts allocated on a reasonable basis.
Mar 31, 2014
1. CONTINGENT LIABILITIES AND COMMITMENTS Year Ended Year Ended
31.03.2014 31.03.2013
Claims against the Company not
acknowledge as debts NIL NIL
Disputed Income Tax Liability
Pending in Appeals 2,90,380/- NIL
Corporate Gurantee given by Company to Bank NIL NIL
2. SEGMENT REPORTING
(I) Segments have been identified in line with the Accounting
Standard-17- "Segment Reporting " issued by the Institute of Chartered
Accountants of India.
(ii) The Business Segment has been considered as the primary segment
for disclosure. The segments have been identified taking into account
the nature of products, the different risks and returns and internal
reporting system. The Geographical Segment based on location of its
customers have been considered as secondary segment for disclosure.
(iii) The segment revenue, segment results, segment assets and segment
liabilities include the respective amounts identifiable to each of the
segments as also amounts allocated on a reasonable basis.
Mar 31, 2013
1. DEFERRED TAX LIABILITY (Net)
In accordance with AS-22 "Accounting for Taxes on lncome",issued by the
Institute of Chartered Accountants of India, the company has created
deferred tax assets during the year.The breakup of Net Deferred Assets/
(Liabilities) are @30.90% as under:
2. RELATED PARTY DISCLOSURES
As per Accounting Standard 18, issued by the Institute of Chartered
Accountants of India, the disclosures of transactions with the related
parties as defined in the Accounting Standard are given below :
3. CONTINGENT LIABILITIES AND COMMITMENTS
Year Ended Year Ended
31.03.2013 31.03.2012
Claims against the Company not
acknowledge as debts NIL NIL
Disputed Income Tax Liability
Pending in Appeals NIL 10.21
lacs
Corporate Gurantee given
by Company to Bank NIL 516.66 lacs
4. SEGMENT REPORTING
(I) Segments have been identified in line with the Accounting
Standard-17- "Segment Reporting " issued by the Institute of Chartered
Accountants of India.
(ii) The Business Segment has been considered as the primary segment
for disclosure. The segments have been identified taking into account
the nature of products, the different risks and returns and internal
reporting system. The Geographical Segment based on location of its
customers have been considered as secondary segment for disclosure.
(iii) The segment revenue, segment results, segment assets and segment
liabilities include the respective amounts identifiable to each of the
segments as also amounts allocated on a reasonable basis.
Mar 31, 2012
1. RELATED PARTY DISCLOSURES
As per Accounting Standard 18, issued by the Institute of Chartered
Accountants of India, the disclosures of transactions with the related
parties as defined in the Accounting Standard are given below :
2. SEGMENT REPORTING
(i) Segments have been identified in line with the Accounting
Standard-17- "Segment Reporting " issued by the Institute of Chartered
Accountants of India.
(ii) The Business Segment has been considered as the primary segment
for disclosure. The segments have been identified taking into account
the nature of products, the different risks and returns and internal
reporting system. The Geographical Segment based on location of its
customers have been considered as secondary segment for disclosure.
(iii) The segment revenue, segment results, segment assets and segment
liabilities include the respective amounts identifiable to each of the
segments as also amounts allocated on a reasonable basis.
Mar 31, 2010
1 Contingent Liabilities
Year Ended Year Ended
31.03.2010 31.03.2009
(i) Claims against the Company not
acknowledge as debts NIL NIL
(ii) Disputed Income Tax Liability
Pending in Appeals 133938.00 133938.00
2 Impairment of Assets
The Company have discontinued the operation of its Garment
Manufacturing Plant. In accordance with the Accounting Standard - 28"
Impairment of Assets" issued by the Institute of Chartered Accountants
of India, the Company has not calculated the Impairment loss, if any,
on account of unavailability of information of recoverable amount of
Garment Manufacturing Plant.
3 In view of non availability of relevant information with the company,
the total outstanding dues to small Scale Industrial undertakings
cannot be ascertained, therefore the same are not disclosed.
4 Trade Advances amounting to Rs. 114.81 Lacs (Previous Year 241.52
Lacs) which are long overdue were given out of business expediency and
the same in the opinion of the management are good and recoverable. The
same are subject to confirmation.
5 Debtors amounting to Rs. 201.50 lacs (Previous Year 201.50 Lacs)
which are long overdue were given out of business expediency and the
same In the opinion of the management are good and recoverable. The
same are subject to confirmation.
6 The company is having discussion for sale of land and Building of
company situated at G-1-150 industrial area, Jaipur. The Company has
also received Rs. 75 lacs as dvance for sale of property, however no
agreement Is executed by the Company in this regard.
7 In accordance with AS-22 "Accounting for Taxes on lncome",lssued by
the Institute of Chartered Accountants of India, the company has
created deferred tax assets during the year.
8 Segment Reporting
(i) Segments have been identified in line with the Accounting
Standard-17- "Segment Reporting "issued by the Institute of Chartered
Accountants of India.
(ii) The Business Segment has been considered as the primary segment
for disclosure. The segments have been identified taking into account
the nature of products, the different risks and returns and internal
reporting system. The Geographical Segment based on location of its
customers have been considered as secondary segment for disclosure.
(iii) The segment revenue, segment results, segment assets and segment
liabilities include the respective amounts identifiable to each of the
segments as also amounts allocated on a reasonable basis.
(iv) Information about primary business segments.
9 RELATED PARTY DISCLOSURES
As per Accounting Standard 18, issued by the Institute of Accountant of
India, the disclosures of transactions with the related parties as
defined in the Accounting Standard are given below:
(i) List of related parties and relationships :
S.
No. NAME OF RELATED PARTY RELATIONSHIP
1 M/s. M.K. Ingots Casting Pvt. Ltd. Associate Company
2 Mr. Dayaram Khanchandanl: Key Management Personnel
3 Mr. Kanhaiya Lai Khanchandanl: Key Management Personnel
4 Mrs. Pushpa Khanchandanl Key Management Personnel
5 Mr. Shyam Khanchandanl: Relative of Key Management
Personnel
6 Mr. Ashok Patni Key Management Personnel
7 M/s. M.K. Traders Proprietoship firm of Key
Management Personnel
8 M/s. Square Textiles L.L.C. Relative Concern Key Management
Personnel
9 M/s. K.V. Exports Proprietoship Concern
Key Management Personnel
10 M/s. M.K. Textiles Relative Concern
Key Management Personnel
11 M/s Symphony Jewels Pvt. Ltd. Associate Company
12 Mr. Murli Menghani Key Management Personnel
10 Figures for the previous year have been re-grouped / re-arranged
wherever considered necessary to make them comparable with those of
current year.
11 Figures have been rounded off to the nearest rupees.
Mar 31, 2009
1 Contingent Liabilities Year Ended Year Ended
31.03.2009 31.03.2008
(I) Claims against the Company not
acknowledge asdebts NIL NIL
(ii) Disputed Income Tax Liability
Pending in Appeals
2 Impairment of Assets
The Company have discontinued the operation of its Garment
Manufacturing Plant. It accordance with the Accounting Standard - 28 "
Impairment of Assets " issued by th( Institute of Chartered Accountants
of India, the Company has not calculated the Impairmen loss, if any, on
account of unavailability of information of recoverable amount of
Garmen Manufacturing Plant.
3 In view of non availability of relevant information with the company,
the total outstanding dues to small Scale Industrial undertakings
cannot be ascertained, therefore the same are not disclosed.
4 Trade Advances amounting to Rs. 241.52 Lacs (Previous Year 373.38
Lacs) which are long overdue were given out of business expediency and
the same in the opinion of the management are good and recoverable. The
same are subject to confirmation.
5 Debtors amounting to Rs.201.50lacs (Previous year Rs.924.22 lacs)
which are long overdue were given out of business expediency and the
same in the opinion of the management are good and recoverable. The
same are subject to confirmation.
6 The Company is having discussion for sale of Land and Building of the
Company situated at E-3,RIICO Industrial Area,Jaipur. The Company has
also received Rs.50.00 Lacs as advance for sale of property.However no
agreement executed by the Comapny in regard.
7 In accordance with AS-22 "Accounting for Taxes on Income",issued by
the Institute of Chartered Accountants of India, the company has
provided for deferred tax during the year.
8 Segment Reporting
(I) Segments have been identified in line with the Accounting
Standard-17- "Segment Reporting "issued by the Institute of Chartered
Accountants of India.
(ii) The Business Segment has been considered as the primary segment
for disclosure. The segments have been identified taking into account
the nature of products, the different risks and returns and internal
reporting system. The Geographical Segment based on location of its
customers have been considered as secondary segment for disclosure.
(iii) The segment revenue, segment results, segment assets and segment
liabilities include the respective amounts identifiable to each of the
segments as also amounts allocated on a reasonable basis.
(iv) Information about primary business segments.
9 Balance in Personal Accounts are subject to confirmation
10 RELATED PARTY DISCLOSURES
As per Accounting Standard 18, issued by the Institute of Chartered
Accountants of India, the disclosures of transactions with the related
parties as defined in the Accounting Standard are given below :
(I) List of related parties and relationships :
S.NO. NAME OF RELATED PARTY RELATIONSHIP
1 M/s. M.K.Ingots Castings Pvt.Ltd. Associate Company
2 Mr. Dayaram Khanchandani: Key Management Personnel
3 Mr. Kanhaiya Lai Khanchandani: Key Management Personnel
4 Mrs. Pushpa Khanchandani Key Management Personnel
5 Mr. Shyam Khanchandani: Relative of Key Management Personnel
6 Mr. Ashok Patni Key Management Personnel
7 M/s. M.K.Traders Proprietorship concern of Key
Management Personnel
8 M/s. Square Textiles L.L.C Relative concern of Key
Management Personnel
9 M/s. K.V.Exports Proprietorship concern of Key
Management Personnel
10 M/s. M.K.Textiles Relative concern of Key
Management Personnel
11 M/s Symphony Jewels Pvt. Ltd. Associate Company
12 Mr. Murli Menghani Key Management Personnel