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Notes to Accounts of Nimbus Industries Ltd.

Mar 31, 2015

1 Corporate information

The Company was incorporated on 17th Jan, 1975 in the name of Shreekant Properties & Investments Private Limited under the Companies Act, 1956 The Company Currently is presently engaged in Trading of Textile Items The Company is listed with the BSE. The CIN of the Company is 99999MH1975PLCO1807.On dated 24th June,1985 the Company change its name to "Silver cloud Tea Industries Limited".Further the Company change its name to "Nimbus Industries Limited" on dated 10th October, 1995 having duly passed the necessary resolution in terms of section 21 of the Companies Act, 1956.

Registered Office:

A-104, Sai Baba Dham CHSL Sai Baba Nagar, Borivali (W) Mumbai-400092.

2 Contingent Liabilities not acknowledged as debts: NIL (P.Y.-NiL)

3 The Provisions of Provident Fund & Miscellaneous Provisions Act, 1952 and ESIC are not applicable to the Company for the year under reference. The payment of Gratuity Act, 1972 is also not applicable. There are no employees having completed the qualifying period of service and hence no provision for Gratuity is required to be made. Leave, if any, standing to the credit of the employees is encashed during the year itself.

4 Deferred Tax Asset (Net)

Deferred Tax Asset consist of timing difference on account of:

Depreciation on Fixed Assets : Rs 208067

Rates & Taxes : Rs 772

Total : Rs 208839

5 Earning Per Share (EPS)

a) 'Profit = Net Profit for the year (After Tax) : Rs 1647344 (P.Y. Rs 1524347)

b) No of Equity Shares of Face Value of Rs 5/- each : 7621400 (P.Y. 7621400)

c) Weighted Average No of Equity Shares of Face Value of Rs 5/- each : 7621400 (P.Y. 7621400)

d) Earning Per Share (EPS) - Basic: a/b = (1647344/7621400)= 0.216 (P.Y. 0.200)

e) Earning Per Share (EPS) - Diluted: a/c = (1647344/7621400)= 0.216 (P.Y. 0.200)

6 Foreign currency transactions and translations

Initial recognition

There are no foreign currency transactions during the year.

Measurement of foreign currency monetary items at the Balance Sheet date There are no foreign currency transactions during the year.

Treatment of exchange differences

There are no foreign currency transactions during the year.

7 Creditors MSME

As per the records available with the Company in respect of its Trade Creditors, there are no amount due to any MSME Entities as on the date of Balance Sheet.

8 Non applicability of Segment Reporting

The company primarily operates in a single business & geographical segment and hence no additional disclosures are required to be given as per as-17, segment reporting, other than those already given in the financial results..

9 Previous Year Figures

Previous year figures have been regrouped/rearranged wherever considered necessary.

10 In the absence of confirmations from the parties,the balances due to and/or receivable from them have been taken as per the books.

11 Related party transactions

11.a Details of related parties:

Description of relationship Names of related parties

Holding Company NA

Ultimate Holding Company NA

Subsidiaries

Fellow Subsidiaries (to be given NA only if there are transactions) Associates

Key Management Personnel (KMP) 1. Nimish B. Thakore

2. Subhash Sharma

3. Sandeep A. Patel

Transactions/Balance Nil

Note: Related parties have been identified by the Management.


Mar 31, 2011

1. CONTINGENT LIABILITIES:

2010 - 11 2009 - 10

NIL NIL

2. The Company has not obtained confirmation from certain Sundry Debtors, Sundry Creditors and Loans & Advances and are subject to confirmation and reconciliation.

3. Previous years figures are regrouped and rearranged wherever necessary.

4. Expenditure incurred on employees who were in receipt of not less than Rs. 24,00,000/- Per Annum, if employed through out the year or Rs- 2,00,000/- Per Month, If employed for part of the year NIL (Previous Year : NIL)

5. As no manufacturing activities have been carried out during the year, information in respect of same required under paragraphs 3,4,4a, 4C and 4D of schedule VI of the Companies Act, 1956 is not given.

6. The company is operating in Single segment.

7. RELATED PARTY DISCLOSURES.

Related Party disclosures as required under Accounting Standard 18 (AS-1S) on "Related Party Disclosures" issued by the institute of Chartered Accountants of India (ICAI) are given below.

A. RELATIONSHIPS:

a. Subsidiary Company: NA

b. Key Management Personnel:

i. Mr. Nlmish Thakore

c. Relatives of Key Management personnel: None

d. Entities over which key management personnel are able to exercise significant influence: None


Mar 31, 2010

CONTINGENT LIABILITIES : 2009-2010 2008-2009

Nil Nil

Previous years figures are regrouped and rearranged wherever necessary.

Expenditure incurred on employees who were in receipt of not less than Rs. 2400000/= p.a. if employed through out the year or Rs. 200000/= per month, if employed for part of the year NIL (Previous Year: NIL)

As no manufacturing activities have been carried out during the year, information in respect of same required under paragraphs 3,4, 4A, 4C and 4D of schedule VI of the Companies Act, 1956 is not given.

Additional information as required under Para IV of Schedule VI to the Companies Act, 1956

D Generic Names of Principle products / Services of the company

Item Code:- N.A.

Product Description :- N.A.


Mar 31, 2009

Not available

 
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