Mar 31, 2015
(i) ACCOUNTING CONVENTION
The accounts of the company are prepared under historical cost
convention and in accordance with applicable accounting standards
except otherwise stated elsewhere.
(ii) FIXED ASSETS
Fixed Assets are capitalized at cost, Comprise of Purchase Price (net
rebates and discounts) and any directly attributa- ble cost of bringing
the assets to its working condition for intended use.
(iii) INVENTORIES
Inventories with respects to traded goods by the company are valued at
lower of cost & net realizable value. Cost is computed on the weighted
average basis & net of cenvat. The cost of traded goods include cost of
conversion and other cost incurred in bringing the inventories to their
present location and condition having regard to Accounting Standard -2.
However, there is no any inventory at the end of this financial year.
(iv) REVENUE RECOGNITION
The Company as far as possible has followed the mercantile system of
Accounting with the provision made for known losses & expenditure and
Revenue recognition at the point of dispatch of materials to customers.
All expenses and income are accounted for on accrual basis except
otherwise stated elsewhere.
(v) DEPRECIATION
Depreciation is provided from the date, the assets have been installed
and put to use on straight line method at the rates and in the manner
specified under Schedule II of the Companies Act, 2013 for the
financial year under the audit which has been effective from the
beginning of financial year 2014-15.
(vi) RETIREMENT BENEFITS
Provision for accruing liability of gratuity to employees has been made
in accounts.
(vii) Previous year figures have been regrouped or rearranged wherever
considered necessary in compliance of Companies Act,2013.
(viii) INVESTMENT
Investments held/intended to be held for a period exceeding one year
have been classified as long term investments. Long term investments
are stated at cost of acquisition. Provision for diminution in the
value of long term investment is made, only if such decline is other
then temporary.
(ix) The vehicle loans from Banks/financial institution are secured
against mortgage of vehicles and personal guarantee of directors of the
company.
(x) In the opinion of Board of Director, Current Assets, Loans &
Advances have a value of realization in the ordinary course of business
at least equal to the amount at which they have been stated in the
Balance Sheet.
(xi) The Company has followed the mercantile system of accounting
except, the expenses on printing & stationery, postage etc. have been
accounted for on cash basis being not material in nature.
(xii) Sundry creditors do not include any amount due to small scale
industrial undertakings to the extent of parties identified on basis of
information available with the management.
(xiii) Preliminary Expenses of the nature specified in section 35(D) of
Income Tax Act, 1961 are being amortized over a period of five years
(xiv) EARNINGS PER SHARE
The company reports basic and diluted earnings per share in accordance
with Accounting Standard-20 issued by the Institute of Chartered
Accountants of India on "Earning per Share". Basic earnings is computed
by dividing the net profit or loss for the period by the weighted
average number of equity shares outstanding during the period. Diluted
earnings per share is compute by divided the net profit or loss for the
period by the weighted average number of equity shares outstanding
during the period as adjusted for the effects of all diluted potential
equity shares except where the results are anti-dilutive.
31.03.2015 31.03.2014
Profit after tax 5962352 7247421
Weighted average No. of Equity Shares 11000000 11000000
outstanding
Nominal Value per share 10/- 10/-
Basic and diluted earnings per share 0.54 0.66
(xv) SEGMENT REPORTING
As per AS-17 "Segment Reporting " issued by the Institute of Chartered
Accountants of India and upon applying the definitions of business and
geographical segments given in accounting standard , it is concluded
that there is neither more than one business segment nor more than one
geographical segment, so segment information has not been required to
be disclosed in the present situation.
(xvi) TAX ON INCOME:
CURRENT TAX
Provision for Income Tax is determined in accordance with the provision
of Income Tax Act, 1961.
DEFERRED TAX
The company has adopted the Accounting Standard-22"Accounting for Taxes
on Income" issued by the Institute of Chartered Accountants of India
and has made provisions accordingly. With compliance to this Accounting
Standard provision for deferred tax have been made in the books only to
the extent that there is reasonable certainty that sufficient future
taxable income will be available against which such deferred tax
liability/assets can be realized.
Deferred Tax is recognized on timing differences being the differences
between taxable incomes and accounting income that originate in one
period and are capable of reversal in one or more subsequent period(s).
(xvii) No personal expenses have been debited to the accounts.
(xviii) Cash Seized by Income Tax Department during the year of Rs.
23.00 Lacs has been shown in deposit with Income Tax Department under
Other Current Assets Note in books of account of the company.
(xix) DIRECTOR'S REMUNERATION (Rs. In Lacs )
S.No. Particulars 2014-15 2013-14
1. Directors Salary 24.00 12.00
(xx) REPORTING ON RELATED PARTIES:
A. Name of related party and nature of the related party relationship
i) Associated/Related Companies: 1. Brina Gopal Traders (P) Limited
2. Swabhiman Vyapar (P) Limited
3. Bindal Rolling Mills Limited
4. Bindal Pulp & Papers (P) Ltd.
5. Shakumbhari Pulp & Paper
Mills Limited.
6. Satyavan Sales Promotions
P.Ltd.
ii) Director & Their Relatives:
Sh. Deepak Goel Whole-time Director
Sh. Praveen Kumar Goel Whole-time Director
Sh. Amit Agarwal Director
Sh. Ankur Sangal Independent Director
Sh. Shubhakar Pathak Independent Director
Ms. Sonal Independent Director
Sh. Pankaj Goel Relative
Sh. Vipin Kumar Goel Relative
Ms. Ishita Goel Relative
Mr. Kshitiz Goel Relative
Apart of it, The company has also granted its guarantee for credit
facilities availed by Satyavan Sales Promotions P. Ltd from Bank of
Maharashtra, New Delhi Branch. However, Satyavan Sales Promotions P.
Ltd has requested to its bank for release of corporate guarantee of
Neeraj Paper Marketing Limited. The company has also granted its
corporate guarantee for credit facilities availed by Bindal Merchnadise
(Trading unit of Bindals Papers Mills Limited) from Allahabad Bank,
Parliament Street, New Delhi Branch.
(xiv) Working Capital Limit from Bank of Maharashtra, Oriental Bank of
Commerce and Bank of India is secured by First charge on the floating
assets of the company (Present & future) on parri passu basis and
personal guarantee of the directors of the company along with personal
guarantee of Sh. Rakesh Kumar & Sh. Neeraj Goel, Smt. Madhulika Goel,
relatives of the directors of the company & corporate guarantee of
Bindals Sponnge Industries Limited (Formerly known as Bindal Sponge
Limited), Bindal Pulp & Papers Private Limited and Bindal Rolling Mills
Limited. It is also to state that corporate guarantee of Bindals
Sponnge Industries Limited (Formerly known as Bindal Sponge Limited)
has been released by lead bank Oriental Bank of Commerce and request
for release of corporate guarantee of Bindals Sponnge Industries
Limited (Formerly known as Bindal Sponge Limited) with other member
bankers is under consideration. The working capital limit is further
collaterally secured by Equitable Mortgage of followings properties on
parri -passu basis:
a. Industrial land at Village Bhandura, pargana Muzaffarnagar, in the
name of M/s Bindal Rolling Mills Limited.
b. Industrial land at Village Kukada, pargana Muzaffarnagar, in the
name of M/s Bindal Pulp & Paper (P) Limited.
c. Residential flat bearing No. W-111, Greater Kailash Part-1 New Delhi
in the name of Smt. Madhulika Goel W/o Sh. Neeraj Goel.
d. Residential House at Block No. A-36, DLF City-1, Golf course road,
Gurgaon, Haryana in the name of Smt. Madhulika Goel W/o Sh. Neeraj
Goel.
e. Pledge of FDR of Rs. 6.00 Lacs.
(xv) Additional Information Pursuant to Part II of General Instruction
for preparation of Statement of Profit and Loss of the Companies Act,
2013 to the extent applicable to the company:
Mar 31, 2014
01. CORPORATE INFORMATION
Neeraj Paper Marketing Limited which has its Registered Office as well
as business place at 218-222, Aggarwal Prestige Mall, Plot NO. 2,
Community Centre, along road no. 44, Pitampura, Delhi-110034 The
company is engaged in Trading & Marketing Business.
(i) ACCOUNTING CONVENTION
The accounts of the company are prepared under historical cost
convention and in accordance with applicable accounting standards
except otherwise stated elsewhere.
(ii) FIXED ASSETS
Fixed Assets are capitalized at cost, Comprise of Purchase Price (net
rebates and discounts) and any directly attributable cost of bringing
the assets to its working condition for intended use.
(iii) INVENTORIES
There is no any inventory at the end of this financial year.
(iv) REVENUE RECOGNITION
The Company as far as possible has followed the Mercantile system of
Accounting with the provision made for known losses & expenditure and
Revenue recognition at the point of dispatch of materials to customers.
All expenses and income are accounted for on accrual basis except
otherwise stated elsewhere.
(v) DEPRECIATION
Depreciation is provided from the date, the assets have been installed
and put to use on straight line method at the rates and in the manner
specified under Schedule XIV of the Companies Act, 1956.
(vi) RETIREMENT BENEFITS
Provident Fund Act & Employees State Insurance Act are not applicable
to Company. Provision for accruing liability of gratuity to employees
have been made in accounts.
(vii) Previous year figures have been regrouped or rearranged wherever
considered necessary.
(vim INVESTMENT
Investments held/intended to be held for a period exceeding one year
have been classified as long term investments. Long term investments
are stated at cost of acquisition. Provision for diminution in the
value of long term investment is made, only if such decline is other
then temporary.
(ix) The vehicle loans from Banks/financial institution are secured
against mortgage of vehicles and personal guarantee of directors of the
company.
(x) In the opinion of Board of Director, Current Assets, Loans &
Advances have a value of realization in the ordinary course of business
at least equal to the amount at which they have been stated in the
Balance Sheet.
(xi) The Company has followed the mercantile system of accounting
except, the expenses on printing & stationery, postage etc. have been
accounted for on cash basis being not material in nature.
(xii) Sundry creditors do not include any amount due to small scale
industrial undertakings to the extent of parties identified on basis of
information available with the management.
(xiii) Preliminary Expenses of the nature specified in section 35(D) of
Income Tax Act, 1961 are being amortized over a period of five years.
(xiv) EARNINGS PER SHARE
The company reports basic and diluted earning per share with Accounting
Standard-20 issued by the Institute of Chartered Accountants of India
on "Earnings per Share". Basic earning is computed by dividing the net
profit or loss for the period by the weighted average number of equity
shares outstanding during the period. Diluted earning per share is
compute by divided the net profit or loss for the period by the
weighted average number of equity shares outstanding during the period
as adjusted for the effects of all diluted potential equity shares
except where the results are anti-dilutive.
fxvl SEGMENT REPORTING
As per AS-17 "Segment Reporting " issued by the Institute of Chartered
Accountants of India and upon applying the definitions of business and
geographical segments given in accounting standard, it is concluded
that there is neither more than one business segment nor more than one
geographical segment, so segment information has not been required to
be disclosed in the present situation.
(xvii) TAX ON INCOME: CURRENTTAX
(a) Provision for Income Tax is determined in accordance with the
provision of Income Tax Act, 1961.
DEFERRED TAX
The company has adopted the Accounting Standard-22"Accounting for Taxes
on Income" issued by the Institute of Chartered Accountants of India
and has made provisions accordingly. With compliance to this Accounting
Standard provision for deferred tax have been made in the books only to
the extent that there is reasonable certainly that sufficient future
taxable income will be available against which such deferred tax
liability/assets can be realized.
Deferred Tax is recognized on timing differences being the differences
between taxable incomes and accounting income that originate in one
period and are capable of reversal in one or more subsequent period(s).
(xvii) No personal expenses have been debited to the accounts.
(xviii) Cash Seized by Income Tax Department during the year of Rs.
23.00 Lacs has been shown in deposit with Income Tax Department under
Other Current Assets Note in books of account of the company.
(xx) REPORTING ON RELATED PARTIES:
A. Name of related party and nature of the related party relationship
i) Associated companies: 1. Brina Gopal Traders (P) Limited
2. Swabhiman Vyapar (P) Limited
ii) Director & Their Relatives
Sh. Deepak Goel Whole-time Director
Sh. Praveen Kumar Goel Whole-time Director
Sh.AmitAgarwal Director
Sh. Ankur Sangal Director
Sh. ShubhakarPathak Director
B. Transactions with Related Parties:
(xxi) The figures have been rounded off to nearest rupee.
(xxii) IMPAIRMENT OF ASSETS:
As per accounting Standard-28 "Impairment of Assets" issued by the
Institute of Chartered Accountants of India, there is no any impairment
loss in the fixed assets of the company at the end of this financial
year. So the provision for impairment loss has not been made in the
books of accounts of the company.
(xxii) PROVISION. CONTENGENT LIABILITIES & CONTINGENT ASSETS
As per accounting standard-29 Provision, Contingent Liabilities &
Contingent Assets issued by the Institute of Chartered Accountants of
India the company recognize only when it has a present obligation as
result of past event. It is probable that an outflow of resources
embodying economic benefits will be required to settle the obligation
as and when a reliable estimate of the amount of the obligation can be
made. There is no any such Provision, Contingent Liabilities &
Contingent Assets in this financial year as per this Accounting
Standard
Mar 31, 2013
01. CORPORATE INFORMATION
Neeraj Paper Marketing Limited which has its Registered Office as well
as business place at 301, 3rd Floor, Agarwal City Mall, Opp. M2K Cinema
Pitampura, Road No. 44, Rani Bagh, Delhi - 110034. The company is
engaged in Trading & Marketing Business.
02. SIGNIFICANT ACCOUNTING POLICIES
1. ACCOUNTING CONVENTION
The accounts of the company are prepared under historical cost
convention and in accordance with applicable accounting standards
except otherwise stated elsewhere.
2. FIXED ASSETS
Fixed Assets are capitalized at cost, Comprise of Purchase Price (net
rebates and discounts) and any directly attributable cost of bringing
the assets to its working condition for intended use.
3. INVENTORIES
There is no any inventory at the end of this financial year.
4. REVENUE RECOGNITION
The Company as far as possible has followed the Mercantile system of
Accounting with the provision made for known losses & expenditure and
Revenue recognition at the point of dispatch of materials to customers.
All expenses and income are accounted for on accrual basis except
otherwise stated elsewhere.
5. DEPRECIATION
Depreciation is provided from the date, the assets have been installed
and put to use on straight line method at the rates and in the manner
specified under Schedule XIV of the Companies Act, 1956.
6. RETIREMENT BENEFITS
Provident Fund Act & Employees State Insurance Act are not applicable
to Company. Provision for accruing liability of gratuity to employees
have been made in accounts.
7. Previous year figures have been regrouped or rearranged wherever
considered necessary.
8. INVESTMENT
Investments held/intended to be held for a period exceeding one year
have been classified as long term investments. Long term investments
are stated at cost of acquisition. Provision for diminution in the
value of long term investment is made, only if such decline is other
then temporary.
9. The vehicle loans from Banks/financial institution are secured
against mortgage of vehicles and personal guarantee of directors of the
company.
10. In the opinion of Board of Director, Current Assets, Loans &
Advances have a value of realization in the ordinary course of business
at least equal to the amount at which they have been stated in the
Balance Sheet.
11. The Company has followed the mercantile system of accounting
except, the expenses on printing & stationery, postage, Telephone &
Telegraph etc. have been accounted for on cash basis being not material
in nature.
12. Sundry creditors do not include any amount due to small scale
industrial undertakings to the extent of parties identified on basis of
information available with the management.
13. Preliminary Expenses of the nature specified in section 35(D) of
Income Tax Act,1961 are being Amortized over a period of five years.
14. EARNINGS PER SHARE
The company reports basic and diluted earnings per share with
Accounting Standard-20 issued by the Institute of Chartered Accountants
of India on "Earnings per Share". Basic earnings is computed by
dividing the net profit or loss for the period by the weighted average
number of equity shares outstanding during the period. Diluted earnings
per share is compute by divided the net profit or loss for the period
by the weighted average number of equity shares outstanding during the
period as adjusted for the effects of all diluted potential equity
shares except where the results are anti-dilutive.
31.03.201331.03.2012Profit after tax86636578016323Weighted average No.
of Equity Shares outstanding110000008142900Nominal Value per
share10/-10/-Basic and diluted earnings per share.79.98
15. SEGMENT REPORTING
As per AS-17 "Segment Reporting " issued by the Institute of Chartered
Accountants of India and upon applying the definitions of business and
geographical segments given in accounting standard , it is concluded
that there is neither more than one business segment nor more than one
geographical segment, so segment information has not been required to
be disclosed in the present situation.
16. TAX ON INCOME: CURRENT TAX
(a) Provision for Income Tax is determined in accordance with the
provision of Income Tax Act, 1961.
DEFERRED TAX
The company has adopted the Accounting Standard-22"Accounting for Taxes
on Income" issued by the Institute of Chartered Accountants of India
and has made provisions accordingly. With compliance to this Accounting
Standard provision for deferred tax have been made in the books only to
the extent that there is reasonable certainty that sufficient future
taxable income will be available against which such deferred tax
liability/assets can be realized. 17. No personal expenses have been
debited to the accounts.
Deferred Tax is recognized on timing differences being the differences
between taxable income and accounting income that originate in one
period and are capable of reversal in one or more subsequent period(s).
Mar 31, 2012
01. CORPORATE INFORMATION
Neeraj Paper Marketing Limited which has its Registered Office as well
as business place at 301, 3rd Floor, Agarwal City Mall, Opp. M2K Cinema
Pitampura, Road No. 44, Rani Bagh, Delhi 110034. The company is engaged
in Trading & Marketing Business.
1. ACCOUNTING CONVENTION
The accounts of the company are prepared under historical cost
convention and in accordance with applicable accounting standards
except otherwise stated elsewhere.
2. FIXED ASSETS
Fixed Assets are capitalized at cost, Comprise of Purchase Price (net
rebates and discounts) and any directly attributable cost of bringing
the assets to its working condition for intended use.
3. INVENTORIES
There is no any inventory at the end of this financial year.
4. REVENUE RECOGNITION
The Company as far as possible has followed the Mercantile system of
Accounting with the provision made for known losses& expenditure and
Revenue recognition at the point of dispatch of materials to customers.
All expenses and income are accounted for on accrual basis except
otherwise stated elsewhere.
5. DEPRECIATION -
Depreciation is provided from the date, the assets have been installed
and put to use on straight line method at the rates and in the manner
specified under Schedule XIV of the Companies Act, 1956.
6. RETIREMENT BENEFITS
Provident Fund Act & Employees State Insurance Act are not applicable
to Company. Provision for accruing liability of gratuity to employees
have been made in accounts.
7. Previous year figures have been regrouped or rearranged wherever
considered necessary.
8. INVESTMENT
Investments held/intended to be held for a period exceeding one year
have been classified as long term investments. Long term investments
are stated at cost of acquisition. Provision for diminution in the
value of long term investment is made, only if such decline is other
then temporary.
9. The vehicle loans from Banks/financial institution are secured
against mortgage of vehicles and personal guarantee of directors of the
company.
10. In the opinion of Board of Director, Current Assets, Loans
&Advances have a value of realization in the ordinary course of
business at least equal to the amount at which they have been stated in
the Balance Sheet.
11. The Company has followed the mercantile system of accounting
except, the expenses on printing & stationer}/, postage, Telephone &
Telegraph etc. have been accounted for on cash basis being not material
in nature.
12. Sundry creditors do not include any amount due to small scale
industrial undertakings to the extent of parties identified on basis of
information available with the management.
13. Preliminary Expenses of the nature specified in section 35(D) of
Income Tax Act, 1961 are being Amortized over period of five years.
14. EARNING PER SHARE
The company reports basic and diluted earnings per share with
Accounting Standard-20 issued by the Institute of Chartered Accountants
of India on "Earning per Share". Basic earnings is computed by dividing
the net profit or loss for the period by the weighted average number of
equity shares outstanding during the period. Diluted earnings per share
is compute by divided the net profit or loss for the period by the
weighted average number of equity shares outstanding during the period
as adjusted for the effects of all diluted potential equity shares
except where the results are anti- dilutive.
15. SEGMENT REPORTING
As per AS-17 "Segment Reporting " issued by the Institute of Chartered
Accountants of India and upon applying the definitions of business and
geographical segments given in accounting standard , it is concluded
that there is neither more than one business segment nor more than one
geographical segment, so segment information has not been required to
be disclosed.
16. TAX ON INCOME: CURRENT TAX
(a) Provision for Income Tax is determined in accordance with the
provision of Income Tax Act, 1961.
17. DEFERRED TAX
The company has adopted the Accounting Standard-22"Accounting for Taxes
on Income" issued by the Institute of Chartered Accountants of India
and has made provisions accordingly. With compliance to this
Accounting Standard provision for deferred tax have been made in the
books only to the extent that there is reasonable certainly that
sufficient future taxable income will be available against which such
deferred tax liability/assets can be realized.
Deferred Tax is recognized on timing differences being the differences
between taxable income and accounting income that originate in one
period and are capable of reversal in one or more subsequent period(s).
Mar 31, 2011
1. ACCOUNTING CONVENTION
The accounts of the company are prepared under historical cost
convention and in accordance with applicable accounting standards
except otherwise stated elsewhere.
2. FIXED ASSETS
Fixed Assets are capitalized at cost, Comprise of Purchase Price (net
rebates and discounts) and any directly attributable cost of bringing
the assets to its working condition for intended use.
3. INVENTORIES
There is no any inventory at the end of this financial year.
4. REVENUE RECOGNITION
The Company as far as possible has followed the Mercantile system of
Accounting with the provision made for known losses & expenditure and
Revenue recognition at the point of dispatch of materials to customers.
All expenses and income are accounted for on accrual basis except
otherwise stated elsewhere.
5. DEPRECIATION
Depreciation is provided from the date, the assets have been installed
and put to use on straight line method at the rates and in the manner
specified under Schedule XIV of the Companies Act, 1956.
6. RETIREMENT BENEFITS
Provident Fund Act & Employees State Insurance Act are not applicable
to Company. Provision for accruing liability of gratuity to employees
have been made in accounts.
7. Previous year figures have been regrouped or rearranged wherever
considered necessary.
8. INVESTMENT
Investments held/intended to be held for a period exceeding one year
have been classified as long term investments. Long term investments
are stated at cost of acquisition. Provision for diminution in the
value of long term investment is made, only if such decline is other
then temporary.
9. The vehicle loans from Banks/financial institution are secured
against mortgage of vehicles and personal guarantee of directors of the
company.
10. In the opinion of Board of Director, Current Assets, Loans &
Advances have a value of realization in the ordinary course of business
at least equal to the amount at which they have been stated in the
Balance Sheet.
11. The Company has followed the mercantile system of accounting
except, the expenses on printing & stationery, postage, Telephone &
Telegraph etc. have been accounted for on cash basis being not material
in nature.
12. Sundry creditors do not include any amount due to small scale
industrial undertakings to the extent of parties identified on basis of
information available with the management.
13. Preliminary Expenses of the nature specified in section 35(D) of
Income Tax Act,1961 are being Amortized over a period of ten years.
14. EARNING PER SHARE
The company reports basic and diluted earnings per share with
Accounting Standard-20 issued by the Institute of Chartered Accountants
of India on "Earning per Share". Basic earnings is computed by dividing
the net profit or loss for the period by the weighted average number of
equity shares outstanding during the period. Diluted earnings per share
is compute by divided the net profit or loss for the period by the
weighted average number of equity shares outstanding during the period
as adjusted for the effects of all diluted potential equity shares
except where the results are anti-dilutive.
15. SEGMENT REPORTING
As per AS-17 "Segment Reporting " issued by the Institute of Chartered
Accountants of India and upon applying the definitions of business and
geographical segments given in accounting standard , it is concluded
that there is neither more than one business segment nor more than one
geographical segment, so segment information has not been required to
be disclosed.
16. TAX ON INCOME:
CURRENT TAX
(a) Provision for Income Tax is determined in accordance with the
provision of Income Tax Act, 1961.
DEFERRED TAX
The company has adopted the Accounting Standard-22"Accounting for Taxes
on Income" issued by the Institute of Chartered Accountants of India
and has made provisions accordingly. With compliance to this
Accounting Standard provision for deferred tax have been made in the
books only to the extent that there is reasonable certainty that
sufficient future taxable income will be available against which such
deferred tax liability/assets can be realized.
Deferred Tax is recognized on timing differences being the differences
between taxable income and accounting income that originate in one
period and are capable of reversal in one or more subsequent period(s).
17. REPORTING ON RELATED PARTIES:
A. Name of related party and nature of the related party relationship
i) Associated companies:
1. M/s Swabhiman Vyapaar (P) Ltd.
2. M/s Satyavan Sales Promotions (P) Ltd.
3. M/s Coral Minerals (P) Ltd.
4. M/s Brina Gopal Traders (P) Ltd.
ii) Director & Their Relative
Sh.Deepak Goel Director
Sh.Praveen Kumar Goel Director
Sh.Amit Kumar Director
B. Transaction with Related Parties:
18. IMPAIRMENT OF ASSETS:
As per accounting Standard-28 "Impairment of Assets" issued by the
Institute of Chartered Accountants of India, there is no any impairment
loss in the fixed assets of the company at the end of this financial
year. So the provision for impairment loss has not been made in the
books of accounts of the company.
19. PROVISION, CONTENGENT LIABILITIES & CONTINGENT ASSETS
As per accounting standard-29 Provision, Contingent Liabilities &
Contingent Assets issued by the Institute of Chartered Accountants of
India the company recognize only when it has a present obligation as
result of past event. It is probable that an outflow of resources
embodying economic benefits will be required to settle the obligation
as and when a reliable estimate of the amount of the obligation can be
made. There is no any such Provision, Contingent Liabilities &
Contingent Assets in this financial year as per this Accounting
Standard.