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Accounting Policies of Neeraj Paper Marketing Ltd. Company

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.

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