Mar 31, 2015
1. Change in Accouting Policies:
The company has not made any changes in its accounting policy and are
same as were in previous year.
2. Segmental Reporting:
The company is an investing and financing company and most of the
revenue of the company arise from investing activities. As all the
investment and finances made by the company are subject to same risk
and return, hence, there is only one segment of business.
3. Deferred Tax
Consequent to the issuance of Accounting Standard (AS) 22, "Accounting
For Taxes on Income" issued by The Institute of Chartered Accountants
of India, the Company has recognised deferred tax liability of
Rs.15,89,230/-for the period up to 31st March, 2015 (Pr. Yr.
Rs.13,81,469/-) on account of difference in depreciation calculated as
per schedule II of the Companies Act, 2013 and as per Income Tax Act,
1961.
4. Operating Lease
The company was taken head office building on lease which is classified
as an Operating Lease. The information as per Accounting Standard (AS)
19, 'Leases" issued by The Institute of Chartered Accountants of India
is as follows:-
5. Related Party Disclosures:
a . List of related parties and their relationship (as recognized by
the management): i . Shri Pavel Garg (Key Management Personnel) ii.
Smt. Poonam Garg (Key Management Personnel) i ii . Shri Shri Chand
Mittal (Key Management Personnel)
b. Related Parties Transactions:
6. On the basis of above information available with the company,
there are no amounts payable to micro and small enterprises as at
31.03.2015 (Pr. Yr. - Nil). However, the status of all the undertakings
is presently not known to the company.
7. Earning/Expenditure in foreign currency: Rs. Nil (Pr. Yr. Nil)
8. Debit and credit balances with the parties are subject to their
confirmations by the parties.
9. In the opinion of board of directors, the current assets, loans &
advances shall have a value on realization in the ordinary course of
business at least equal to the amount at which they are stated in the
balance sheet and provisions for all the known current liabilities have
been made in the balance sheet.
10. Schedule to the Balance Sheet as required in terms of Paragraph 13
of Non Banking Financial (Non-Deposit Accepting or Holding) Companies
Prudential Norms (Reserve Bank) Directions, 2007, is enclosed herewith
by way of separate annexure.
11. Previous year figures have been regrouped or rearranged wherever
considered necessary to make it comparable with the figures of the
current year.
Notes :
1 As defined in Paragraph 2(1)(xii) of the Non-Banking Financial
Companies Acceptance of Public Deposits (Reserve Bank) Directions,
1998.
2 Provisioning norms shall be applicable as prescribed in the
Non-Banking Financial (Non-Deposit Accepting or Holding) Companies
Prudential Norms (Reserve Bank) Directions, 2007.
3 All Accounting Standards and Guidance Notes issued by ICAI are
applicable including for valuation of investments and other assets as
also assets acquired in satisfaction of debts. However, market value in
respect of quoted investments and break-up/fair value/ NAV in respect
of unquoted investments should be disclosed irrespective of whether
they are classified as long term or current in column (4) above.
Mar 31, 2014
1. Contingent Liabilities Current year Previous year
Estimated amount of contingent Nil Nil
liability
2. Change in Accounting Policies:
The company has not made any changes in its accounting policy and are
same as were in previous year.
3. Segmental Reporting:
The company is an investing and financing company and most of the
revenue of the company arise from investing activities. As all the
investment and finances made by the company are subject to same risk
and return, hence, there is only one segment of business.
4. Deferred Tax
Consequent to the issuance of Accounting Standard (AS) 22,
"Accounting For Taxes on Income" issued by The Institute of
Chartered Accountants of India, the Company has recognised deferred tax
liability of Rs.13,81,469/-for the period up to 31st March, 2014 (Pr.
Yr. Rs.9,93,208/-) on account of difference in depreciation rates
prescribed as per the Companies Act 1956 and as per Income Tax Act,
1961.
5. On the basis of above information available with the company, there
are no amounts payable to micro and small enterprises as at 31.03.2014
(Pr. Yr. - Nil). However, the status of all the undertakings is
presently not known to the company.
6. Earning/Expenditure in foreign currency: Rs. Nil (Pr. Yr. Nil)
7. Debit and credit balances with the parties are subject to their
confirmations by the parties.
8. In the opinion of board of directors, the current assets, loans &
advances shall have a value on realization in the ordinary course of
business at least equal to the amount at which they are stated in the
balance sheet and provisions for all the known current liabilities have
been made in the balance sheet.
9. Schedule to the Balance Sheet as required in terms of Paragraph
9BB of Non Banking Financial Companies Prudential Norms (Reserve Bank)
Directions, 1998, and Additional information pursuant to the provisions
of part IV of Schedule VI to the Companies Act, 1956, Balance Sheet
Abstract and Company''s General Business Profile are enclosed herewith
by way of separate annexures.
10. Previous year figures have been regrouped or rearranged wherever
considered necessary to make it comparable with the figures of the
current year.
11. The company has kept equity shares of companies in margin account
with broker M/s Maheshwari Technical & Financial
Mar 31, 2013
1. Contingent Liabilities Current year Previous year
Estimatedamountofcontngentliabiliry Nil Nil
2. Change in Accouting Policies:
The company has not made any changes in its accounting policy and are
same as were in previous year.
3. Segmental Reporting:
The company is an investing and financing companyand most of the
revenue of the company arise frominvesting activities. As all the
investment and finances made by the compmany are subject to same risk
and return.hence.thereisonlyonesegmentofbusiness.
4. Deferred Tax
Consequent to the issuance of Accounting Standard (AS) 22, ''Accounting
For Taxes on Income" issued by The Institute of Chartered Accountants
of India, the Company has recognised deferred tax liability of
Rs.9,93,208/-forthe period upto 31st March, 2013 on account of
difference in depreciation rates prescribed as per the Companies Act,
1956 and as per Income TaxAct, 1961.
5. On the basis of above information available with the company,
there are no amounts payable to micro and small enterprises as at
31.03.2013 (Pr. Yr. - Nil). However, the status of all the undertakings
is presently not known to the company.
6. Earning/Expenditure in foreign currency: Rs. Nil (Pr. Yr. Nil)
7. Debit and credit balances with the parties are subject to their
confirmations by the parties.
8. In the opinion of board of directors.the current assets joans &
advancesshallhaveavalueonrealizationintheordinarycourseofbusiness
atleast equal to the amountatwhich they are stated in the balance
sheetand provisions for all the known current liabilities have been
made in the balance sheet.
9. Schedule to the Balance Sheetas required in terms of Paragraph 9BB
of Non Banking Financial Companies Prudential Norms (Reserve Bank)
Directions, 1998, andAdditional information pursuanttothe provisionsof
part IV of Schedule VI to the Companies Act, 1956, Balance
SheetAbstract and Company''s General Business Profile-are enclosed
herewith by way of separate annexures.
10. Previousyearfigureshavebeenregroupedorrearrangedwhereverconsidered
necessary to make it comparable with the figures of the currentyear.
11. Thecompany has kept equity shares of companies in margin account
with brokerM/sMaheshwariTechnical&FinancialServicesLimited as margin.
Details of share in margin for the year ending is as under:
Mar 31, 2012
1. Contingent Liabilities Current year Previous year
Estimated amount of
contingent liability Nil Nil
2. Change in Accouting Policies:
The company has not made any changes in its accounting policy and are
same as were in previous year.
3. Segmental Reporting:
The company is an investing and financing company and most of the
revenue of the company arise from investing activities. As all the
investment and finances made by the company are subject to same risk
and return, hence, there is only one segment of business.
4. Deferred Tax
Consequent to the issuance of Accounting Standard (AS) 22, "Accounting
For Taxes on Income" issued by The Institute of Chartered Accountants
of India, the Company has recognised deferred tax liability of
Rs.5,47,938/-for the period up to 31st March, 2012 on account of
difference in depreciation rates prescribed as per the Companies Act,
1956 and as per Income Tax Act, 1961.
5. Operating Lease
The company has taken head office building on lease which is classified
as an Operating Lease. The information as per Accounting Standard (AS)
19, 'Leases" issued by The Institute of Chartered Accountants of India
is as follows:-
(b) Lease payment recognized in the statement of profit and loss for
the year Rs. 1,80,000/- P.A.
(c) (i) The company has taken head office building on lease for 3
years, which can be increased as mutually
decided by both the parties to the lease agreement.
(ii) If both the parties agreed to increase the lease period, the lease
rental after three years will increase by such % as mutually decided by
both the parties.
6. Related Party Disclosures:
a. List of related parties and their relationship (as recognized by the
management):
i. Shri Pavel Garg (Key Management Personnel)
ii. Smt. Poonam Garg (Key Management Personnel)
iii. Shri Shri Chand Mittal (Key Management Personnel)
iv. Combitic Global Caplet (P) Ltd. (Associates)
7. On the basis of above information available with the company, there
are no amounts payable to micro and small enterprises as at 31.03.2012
(Pr. Yr. - Nil). However, the status of all the undertakings is
presently not known to the company.
8. Earning/Expenditure in foreign currency: Rs. Nil (Pr. Yr. Nil)
9. Debit and credit balances with the parties are subject to their
confirmations by the parties.
10. In the opinion of board of directors, the current assets, loans &
advances shall have a value on realization in the ordinary course of
business at least equal to the amount at which they are stated in the
balance sheet and provisions for all the known current liabilities have
been made in the balance sheet.
11. Schedule to the Balance Sheet as required in terms of Paragraph 9BB
of Non Banking Financial Companies Prudential Norms (Reserve Bank)
Directions, 1998, and Additional information pursuant to the provisions
of part IV of Schedule VI to the Companies Act, 1956, Balance Sheet
Abstract and Company's General Business Profile- are enclosed herewith
by way of separate annexures.
12. Previous year figures have been regrouped or rearranged wherever
considered necessary to make it comparable with the figures of the
current year.
Mar 31, 2010
1. Contingent Liabilities
Estimated amount of contracts remaining to be executed on capital
account and not provided for (net of advances) Rs. 0.75 Crores
(previous year Rs. 0.50 Crores).
2. Payment made to Directors includes: Current year Previous year
Managerial Remuneration 3,00,000/- 3,00,000/-
3. Payments to Auditors includes: Current year Previous year
Audit Fees 22,060/- 22,060/-
4. Change in Accouting Policies:
The company has changed its accounting policy related to recognition of
interest income and interest expenses at the end of each quarter to at
the time of squared up of interest bearing loan accouts or at the end
of financial year, which ever is earlier.
However, both of above referred changes dont have any effect on the
profit of the company at the year end as compared to the previous year.
5. Segmental Reporting:
The company is an investing and financing company and most of the
revenue of the company arise from investing activities. As all the
investment and finances made by the company are subject to same risk
and return, hence, there is only one segment of business.
6. Deferred Tax
Consequent to the issuance of Accounting Standard (AS) 22, ÃAccounting
For Taxes on Incomeà issued by The Institute of Chartered Accountants
of India, the Company has recognised deferred tax liability of
Rs.14,221/-for the period up to 31st March, 2010 on account of
difference in depreciation rates prescribed as per the Companies Act,
1956 and as per Income Tax Act, 1961.
7. Operating Lease
The company has taken head office building on lease which is classified
as an Operating Lease. The information as per Accounting Standard (AS)
19, ÃLeasesà issued by The Institute of Chartered Accountants of India
is as follows:-
(a) The total of future minimum lease payments payable
for each of the following periods:-
(i) not later than one year Rs. 1,20,000/-
(ii) later than one year and not later than five years Rs. 1,20,000/-
(iii) later than five years Rs. Nil
(b) Lease payment recognized in the statement of
profit and loss for the period Rs. 1,20,000/-
(c) (i) The company has taken head office building on lease for 3
years, which can be increased as mutually decided by both the parties
to the lease agreement.
(ii) If both the parties agreed to increase the lease period, the lease
rental after three years will increase by such % as mutually decided by
both the parties.
8. Related Party Disclosures:
a. List of related parties and their relationship (as recognized by
the management):
i. Shri Pavel Garg (Key Management Personnel)
ii. Smt. Poonam Garg (Key Management Personnel)
iii. Shri Ram Narain Choudhary (Key Management Personnel)
iv. Shri Niket Choudhary (Key Management Personnel)
v. Sh. Shri Chand Mittal (Key Management Personnel)
vi. Combitic Global (Associate)
vii. Combitic Global Caplet Pvt. Ltd.(earlier name-Unisule Pvt. Ltd.)
(Associate)
b. Related Parties Transactions:
The details of transactions between the Company and the related party,
as defined in the Accounting Standard- 18, are given below:
9 . On the basis of above information available with the company,
there are no amounts payable to micro and small enterprises as at
31.03.2010 (Pr.Year- Nil). However, the status of all the undertakings
is presently not known to the company.
10. Earning/Expenditure in foreign currency: Rs. Nil (Pr. Yr. Nil)
11. Debit and credit balances with the parties are subject to their
confirmations by the parties.
12. In the opinion of board of directors, the current assets, loans &
advances shall have a value on realization in the ordinary course of
business at least equal to the amount at which they are stated in the
balance sheet and provisions for all the known current liabilities have
been made in the balance sheet.
13. Schedule to the Balance Sheet as required in terms of Paragraph
9BB of Non Banking Financial Companies Prudential Norms (Reserve Bank)
Directions, 1998, and Additional information pursuant to the provisions
of part IV of Schedule VI to the Companies Act, 1956, Balance Sheet
Abstract and Companys General Business Profile- are enclosed herewith
by way of separate
14. Previous year figures have been regrouped or rearranged wherever
considered necessary to make it comparable with the figures of the
current year.
The Schedules referred to above and the Notes attached to form an
integral part of Accounts In terms of our report of even date attached
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