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Notes to Accounts of Mehta Housing Finance Ltd.

Dec 31, 2013

A) Terms/rights attached to equity shares

The company has only one class of equity shares having a par value of Rs 10/- per share. Each holder of equity shares is entitled to one vote per share. The dividend if any proposed by the Board of Directors is subject to the approval of the shareholders in the ensuing Annual General Meeting. During the year ended 31 December 2013, the company has not declared any dividend to equity shareholders (31 December 2013: ''Rs Nil).

As per records of the company,including its register of shareholders/members and other declarations received from shareholders regarding beneficial interest, the above shareholding represents both legal and beneficial ownership of shares.

d) The company has not issued any bonus shares,or shares for consideration other than cash or bought back equity shares during the year or for the period of five years immediately preceding the date of balance sheet.

a) Investments :

No Provision for difference between book value and market value of long term quoted investments in one script has been made since in the opinion of the management such difference is of temporary nature and do not represent a diminution other than temporary.

Note : 13 Disclosure required under section 22 of the Micro, Small & Medium Enterprises development At, 2006. The company has not received information from vendors regarding their status under the micro / small & medium enterprises development Act , 2006, hence disclosure relating to amounts unpaid as at the year end under this Act has not been given.

Note : 14 Related Parties disclosure in accordance with Accounting Standard - 18

a. Key management personnel

1) ( Managing Director)

2). (Director )

b. only influenced by key management personnel or their relatives

1) Pvt Ltd

1. On the basis of information available with the Company, there is no amount due but remaining unpaid as on 31st December 2013 to any suppliers who is a small scale or ancillary industrial undertaking.

2. The requirement of Accounting Standard 22 "Accounting for Taxes on Income" have been considered and the management is of the opinion that no deferred tax assets/liability needs to be created.

3. As per Accounting Standard 22 issued by The Institute of Chartered Accountants of India during the year, due to the loss, the company has not provided taxation in Books of Account including deferred tax liability, as the company does not envisage any such liability in near future.

4. In the absence of the taxable income, no provision for taxation has been made U/s.115JB of The Income Tax Act 1961. However, the tax-year end of the Company being 31/03/2013, the ultimate liability for the A.Y.- 2014-15 will be determined on the total Income of the Company for the year ended 31/03/2014.

5. Corresponding figures of the previous year have been regrouped or restated to make them comparable with current year figures wherever necessary.

6. Unsecured Loans, Current Liabilities, Loans & Advances, Deposits and Sundry Debtors are subject to confirmation and adjustments, if any.

8. Segment Reporting:

The company is engaged in Investment and hence management is of the opinion that it does not have a reportable primary segment identifiable in accordance with the Accounting Standard 17 issued by the Institute of Chartered Accountants of India.

9. Related Party Transactions:

The Company has identified all the related parties as defined under Accounting Standard 18 "Related Party Disclosure" issued by the Institute of Chartered Accountants of India having transactions during the year, as per details given below. There were no amounts written off or written back from such parties during the year.

The related parties included in the various categories above, where no transactions have taken place.

10. Additional information pursuant to the provisions of paragraphs 3, 4C and 4D of Part II of Schedule VI to the Companies Act, 1956.

i. Production Capacity :- Not Applicable

II. Capital raised during the year (Rs. in thousands)

Public Issue : Nil Rights Issue : Nil

Bonus Issue : Nil Private Placement : Nil

III. Position of Mobilization and Deployment of Funds (Amt. in Lacs) :


Dec 31, 2012

1. On the basis of information available with the Company, there is no amount due but remaining unpaid as on 31st December 2012 to any suppliers who is a small scale or ancillary industrial undertaking.

2. The requirement of Accounting Standard 22 "Accounting for Taxes on Income” have been considered and the management is of the opinion that no deferred tax assets/liability needs to be created.

3. As per Accounting Standard 22 issued by The Institute of Chartered Accountants of India during the year, due to the loss, the company has not provided taxation in Books of Account including deferred tax liability, as the company does not envisage any such liability in near future.

4. In the absence of the taxable income, no provision for taxation has been made U/s.115JB of The Income Tax Act. However, the tax-year end of the Company being 31/03/2012, the ultimate liability for the A.Y.-2013- 14 will be determined on the total Income of the Company for the year ended 31/03/2013.

5. Corresponding figures of the previous year have been regrouped or restated to make them comparable with current year figures wherever necessary.

6. Unsecured Loans, Current Liabilities, Loans & Advances, Deposits and Sundry Debtors are subject to confirmation and adjustments, if any.

7. Segment Reporting:

The company is engaged in Investment and hence management is of the opinion that it does not have a reportable primary segment identifiable in accordance with the Accounting Standard 17 issued by the Institute of Chartered Accountants of India.

8. Related Party Transactions:

The Company has identified all the related parties as defined under Accounting Standard 18 "Related Party Disclosure” issued by the Institute of Chartered Accountants of India having transactions during the year, as per details given below. There were no amounts written off or written back from such parties during the year.


Dec 31, 2011

A) Terms/rights attached to equity shares

The company has only one class of equity shares having a par value of Rs 10/- per share. Each holder of equity shares is entitled to one vote per share. The dividend if any proposed by the Board of Directors is subject to the approval of the shareholders in the ensuing Annual General Meeting. During the year ended 31 December 2011, the company has not declared any dividend to equity shareholders (31 December 2011: Rs Nil).

As per records of the company,including its register of shareholders/members and other declarations received from shareholders regarding beneficial interest, the above shareholding represents both legal and beneficial ownership of shares.

b) The company has not issued any bonus shares,or shares for consideration other than cash or bought back equity shares during the year or for the period of five years immediately preceding the date of balance sheet.

a) Investments :

No Provision for difference between book value and market value of in value of long term quoted investments in one script has been made since in the opinion of the management such difference is of temporary nature and do not represent a diminution other than temporary.

Note : 1 Disclosure required under section 22 of the Micro, Small & Medium Enterprises development At, 2006. The company has not received information from vendors regarding their status under the micro / small & medium enterprises development Act , 2006, hence disclosure relating to amounts unpaid as at the year end under this Act has not been given.

1. On the basis of information available with the Company, there is no amount due but remaining unpaid as on 31st December 2011 to any suppliers who is a small scale or ancillary industrial undertaking.

2. The requirement of Accounting Standard 22 "Accounting for Taxes on Income" have been considered and the management is of the opinion that no deferred tax assets/liability needs to be created.

3. As per Accounting Standard 22 issued by The Institute of Chartered Accountants of India during the year, due to the loss, the company has not provided taxation in Books of Account including deferred tax liability, as the company does not envisage any such liability in near future.

4. In the absence of the taxable income, no provision for taxation has been made U/s.115JB of The Income Tax Act. However, the tax-year end of the Company being 31/03/2011, the ultimate liability for the A.Y.-2012- 13 will be determined on the total Income of the Company for the year ended 31/03/2012.

5. Corresponding figures of the previous year have been regrouped or restated to make them comparable with current year figures wherever necessary.

6. Unsecured Loans, Current Liabilities, Loans & Advances, Deposits and Sundry Debtors are subject to confirmation and adjustments, if any.

7. Payment to Auditor:

Particulars 2011 2010 Audit Fees (Excluding Service tax) Rs. 2000/- Rs. 10,000/- In Other Capacity Nil Nil

8. Segment Reporting:

The company is engaged in Investment and hence management is of the opinion that it does not have a reportable primary segment identifiable in accordance with the Accounting Standard 17 issued by the Institute of Chartered Accountants of India.

9. Related Party Transactions:

The Company has identified all the related parties as defined under Accounting Standard 18 "Related Party Disclosure" issued by the Institute of Chartered Accountants of India having transactions during the year, as per details given below. There were no amounts written off or written back from such parties during the year.


Dec 31, 2010

1. On the basis of information available with the Company, there is no amount due but remaining unpaid as on 31st December 2010 to any suppliers who is a small scale or ancillary industrial undertaking.

2. The requirement of Accounting Standard 22 "Accounting for Taxes on Income" have been considered and the management is of the opinion that no deferred tax assets/liability needs to be created.

3. As per Accounting Standard 22 issued by The Institute of Chartered Accountants of India during the year, due to the loss, the company has not provided taxation in Books of Account including deferred tax liability, as the company does not envisage any such liability in near future.

4. In the absence of the taxable income, no provision for taxation has been made U/s.115JB of The Income Tax Act. However, the tax-year end of the Company being 31/03/2011, the ultimate liability for the A.Y-2011- 12 will be determined on the total Income of the Company for the year ended 31/03/2011.

5. Corresponding figures of the previous year have been regrouped or restated to make them comparable with current year figures wherever necessary.

6. Unsecured Loans, Current Liabilities, Loans & Advances, Deposits and Sundry Debtors are subject to confirmation and adjustments, if any.

7. Segment Reporting:

The company is engaged in Investment and hence management is of the opinion that it does not have a reportable primary segment identifiable in accordance with the Accounting Standard 17 issued by the Institute of Chartered Accountants of India.

8. Related Party Transactions:

The Company has identified all the related parties as defined under Accounting Standard 18 "Related Party Disclosure" issued by the Institute of Chartered Accountants of India having transactions during the year, as per details given below. There were no amounts written off or written back from such parties during the year.

9. Additional information pursuant to the provisions of paragraphs 3, 4C and 4D of Part II of Schedule VI to the Companies Act, 1956.

 
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