Mar 31, 2015
Corporate Information
Mahaveer Infoway Ltd was incorporated on May 13, 1991 as a private
limited company with the name Mahaveer Leafin and Holdings Pvt Ltd. The
company was promoted by Ashok Kumar Jain, a Seasoned Business
Professional with magnitude of experience in Banking, Finance and
Business Management Operations.
In February 13, 1996, the company was converted into public limited
company by listing the Bombay Stock Exchange and the name was changed
to Mahaveer Leafin and Holdings Ltd.
In January 7, 2000, the company changed their name from Mahaveer Leafin
and Holdings Ltd to Mahaveer Infoway Ltd and carrying the activities of
mobile handset manufacturing and trading under the brand name and style
'ZINK' across the various parts of the country. In addition to this the
company also does staffing and software development services.
Mar 31, 2014
1. Contingent Liabilities and Commitments
Estimated amount of contracts remaining to be executed on capital
accounts and not provided for, net of advances is Rs. Nil
2. Investments
a. Investment includes 5000 shares of Arihant Optics Limited amounting
to Rs.5,00,000/-.
b. Investment includes Rs.98,000/- towards subscription of shares in
Mahaveer Projects Private Limited.
c. Investment includes Rs.281,000/- towards subscription of shares in
Mahaveer Telecom Private Limited.
d. Investments in Skyscrapers unquoted equity shares of worth Rs.
26,19,000./-
e. Rs. 5,33,340/- Minfy Impex (sole proprietor ship of MIL 100% fully
owned).
3. Fixed Assets
Capital Work-in-progress:
Company has incurred an expenditure on construction of building of Rs.
37,46,860/- which is certified by the management of the company is
shown as capital work-in-progress along with the opening Capital
work-in-progress.
4. Segment Reporting
In the opinion of the management, the company''s business activity
carried on during the year consists of more than one reportable segment
and as such report is given separately by management.
5. Taxation
Current income tax is ascertained on the basis of assessable profits
computed in accordance with the provisions of the income tax Act, 1961
and it is charged to the profit and loss of the year.
6. The Company has not having the suppliers who are registered as
Micro, Small, Medium Enterprise as on March 31,2014 in terms of the
provisions of "The Micro, Small, and Medium Enterprises Development
Act, 2006".
7. In the opinion of the Management and to the best of their knowledge
and belief realization of current assets and loans and advances are not
less than the amount at which they are stated in the Balance Sheet and
are subject to confirmation from respective parties.
8. The management is of the opinion that the carrying amounts of fixed
assets and other assets are not less than their respective net
realizable values.
9. Additional Information pursuant to paragraphs 3, 4, 4-C and 4-D of
part-II of Schedule VI to the Companies Act, 1956 to the extent either
"Nil" or "Not Applicable" has not been furnished.
10. Previous year''s figures have been regrouped and reclassified,
wherever necessary, to conform to those of the current year.
Mar 31, 2013
1. Contingent Liabilities and Commitments
Estimated amount of contracts remaining to be executed on capital
accounts and not provided for, net of advances is Rs. Nil
2. Investments
a. Investment includes 5000 shares of Arihant Optics Limited amounting
to Rs.500000/- are to be transferred in the name of the Company.
b. Investment includes Rs.98,000/- towards subscription of shares in
Mahaveer Projects Private Limited.
c. Investment includes Rs.81,000/- towards subscription of shares in
Mahaveer Telecom Private Limited.
d. Investments in skyscrapers unquoted equity shares of worth
Rs.26,19,000/- and Rs.8,00,000/- in leo infrastructure (as share of
land)
e. Rs.5,33,340/- minfy impex (sole proprietor ship of MIL 100% fully
owned)
f. Rs. 15,000/- in Hygrowth Finance company.
g. Rs. 142,50,000 in Trimurthy Pharmaceuticals Limited.
3. Fixed Assets
Capital Work-in-progress:
Company has incurred an expenditure on construction of building Rs.
22,46,860/- which is certified by the management of the company, is
shown as capital work-in-progress along with the opening capital
work-in-progress
4. Segment Reporting
In the opinion of the management the company''s business activity
carried on during the year consist of more than one reportable segment
and as such report is given separately by management.
5. Related Party transactions
The company has identified all related parties and details of
transactions are given below. No provision for doubtful debts or
advances is required to be made. No amounts have been written off or
written back during the year in respect of debts due from or related
parties. There are no other related parties where control exists that
need to be disclosed.
6. Taxation
Current income tax is ascertained on the basis of assessable profits
computed in accordance with the provisions of the income tax Act, 1961
and it is charged to the profit and loss of the year.
7. Company has not having the suppliers who are registered as Micro,
Small or Medium Enterprises (under the provisions of Section 16 of the
Micro, Small and Medium Enterprises Development Act, 2006) during the
year ended March 31,2013.
8. The management is of the opinion that the carrying amounts of
fixed assets and other assets are not less than their respective net
realizable values.
9. Additional Information pursuant to paragraphs 3, 4, 4-C and 4-D of
part-II of Schedule VI to the Companies Act, 1956 to the extent either
"Nil" or "Not Applicable" has not been furnished.
10. Previous year''s figures have been regrouped and reclassified,
wherever necessary, to conform to those of the current year.
Mar 31, 2012
1. Contingent Liabilities and Commitments
Estimated amount of contracts remaining to be executed on capital
accounts and not provided for, net of advances is Rs. Nil
2. Investments
a. Investment includes 5000 shares of Arihant Optics Limited amounting
to Rs.500000/- are to be transferred in the name of the Company.
b. Investment includes Rs.98,000/- towards subscription of shares in
Mahaveer Projects Private Limited.
c. Investment includes Rs.75,000/- towards subscription of shares in
Mahaveer Telecom Private Limited.
3. Fixed Assets Capital Work-in-progress:
Company has incurred an expenditure of Rs. 9,21,164/- towards
construction of building at Hubli, which is certified by the management
of the company, is shown as capital work-in-progress.
4. Segment Reporting
In the opinion of the management the company's business activity
carried on during the year consist of more than one reportable segment
and as such report is given separately by management.
5. Related Party transactions
The company has identified all related parties and details of
transactions are given below. No provision for doubtful debts or
advances is required to be made. No amounts have been written off or
written back during the year in respect of debts due from or related
parties. There are no other related parties where control exists that
need to be disclosed.
a) Names of related parties and description of relationship
6. Taxation
Current income tax is ascertained on the basis of assessable profits
computed in accordance with the provisions of the income tax Act, 1961
and it is charged to the profit and loss of the year. Company made
necessary groupings for taxes and accordingly made for Corporate
Dividend Tax for the Financial Year 2010-11.
7. Company has not paid any interest nor any interest payable is
outstanding to Micro, Small or Medium Enterprises (under the provisions
of Section 16 of the Micro, Small and Medium Enterprises Development
Act, 2006) during the year ended March 31, 2012.
8. In the opinion of the Management and to the best of their knowledge
and belief realization of current assets and loans and advances are not
less than the amount at which they are stated in the Balance Sheet and
are subject to confirmation from respective parties.
9. The management is of the opinion that the carrying amounts of
fixed assets and other assets are not less than their respective net
realizable values.
10. Additional Information pursuant to paragraphs 3, 4, 4-C and 4-D of
part-II of Schedule VI to the Companies Act, 1956 to the extent either
"Nil" or "Not Applicable" has not been furnished.
11. Previous year's figures have been regrouped and reclassified,
wherever necessary, to conform to those of the current year.