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Notes to Accounts of Meglon Infra-Real (India) Ltd.

Mar 31, 2015

1. Corporate Information:

Meglon Infra-Real (India) Limited is a public company engaged primarily in the business of Real Estate.

2. Basis of preparation of financial Statements:

The Financial statements have been prepared under the historical cost convention on accrual basis. The mandatory applicable accounting standards in India and the provisions of the companies Act,2013 have been followed in preparation of these financial statements.

All assets and liabilities have been classified as current or non-current as per the operating cycle criteria set out in the Revised Schedule III to the Companies Act, 2013.

3. Investments: Investments are classified into Long-term Investments. Long-term Investments are stated at cost. A provision for diminution is made to recognize a decline, other than temporary, in the value of Long-term Investments. However, fixed income long term securities are stated at cost, less amortization of Premium/ discount and provision for diminution to recognize a decline, other than temporary.

4. Related Party Disclosures:

Names of related parties and description of relationship:

Name of the party Relationship

Key Management Personnel

i) ChetanNaagraj Jain Managing Director

ii) AnandBabuSuvarna Director

iii) Rakesh ShantilalSurana Director

5. Contingent Liabilities and Capital Commitments:

Contingent Liabilities: Nil

Capital commitments: Nil

6. Foreign Exchange Transactions:

There are no foreign currency transactions during the current period.

7. Dues to Micro, Small and Medium Enterprises:

There are no amounts due to the suppliers covered under Micro, Small and Medium Enterprises Development Act, 2006;

8. Earnings Per Share (EPS)

Basic earnings per share are calculated by dividing the net profit or loss for the period attributable to equity shareholders by the weighted average number of equity shares outstanding during the period.

Mar 31, 2014

1) Contingent Liabilities and commitments - (AS-29):

i. Guarantees and letters of credit: Nil

it Bank Guarantees issued by Bankers : Nil

2) The Previous year''s figures have been regrouped and recast wherever necessary to bring them in line with the current year''s figures.

Mar 31, 2012

Not Available

Mar 31, 2010

1) Previous year figures have been regrouped and reclassified wherever necessary

2) Contingent Liabilities - NIL

3). Secured Loans are Secured by Charge on Present and Future Stock on Hire, Leased assets and book debts relating thereto.

4). Prior Period Items : Prior Period Items are those items of Income or Expenditure which araised during the current year as a result of errors or omissions that have occurred in one or more earlier Accounting periods.

5). Company has received notice in respect of arrears of Income tax to the tune of Rs. 23,26,720 pertaining to the year 1995 -96 . Company has admitted this liability, and recorded in the books of Accounts

6). The company has received summons from BSNL in respect of telephone bills of Rs.24,84,556 this amount is not recorded in the books of account

7). Previous year figures have been regrouped and reclassified wherever necessary

8). Figures shown in the Balance Sheet and Schedules have been rounded off to the nearest rupee

Oct 26, 12:00 am
Oct 26, 4:14 pm
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