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Notes to Accounts of Nyssa Corporation Ltd.

Mar 31, 2015

I) The company has entered as a partner into partnership for development of land in and around Surat district of Gujarat in the name of M/s Mark Developers. The amount paid to this partnership, is classified as investment.

ii) Related Party Disclosure as per Accounting Standard 18 on "Related Party Disclosures":

(A) Names of the related parties and description of relationship: Enterprises where control exist :

(i) Key Management Personnel (a) Mr. Vivek Sharma

(ii) Associates Concern

(a) Mark Developers- Partnership Firm

v) There are no amounts due and outstanding to be credited to investor education & protection fund as at 31st March, 2014.

vi) The company has identified two reportable segments viz. Realty & Investment. Segments have been identified and reported taking into account nature of products & services, the differing risk and returns and the internal business reporting systems. The accounting policies adopted for segment reporting are in line with the accounting policy of the Company with following additional policies for segment reporting.

a) Revenue and expenses have been identified to a segment on the basis of relationship to operating activities of the segment. Revenue and expenses which are relate to enterprises as a whole and are not allocable to a segment on reasonable basis have been disclosed as "Unallocable".

b) Segment assets and segment liabilities represent assets and liabilities in respective segment. Other assets & liabilities that cannot be allocated to segment on reasonable basis have been disclosed as "Unallocable".

viii) Balances of debtors .creditors and Loan & advances are subject to confirmation.

ix) Additional information required vide Part II of Schedule III of Companies Act, 2013 are either Nil or not applicable.

x) The previous years figures have been regrouped, rearranged and reclassified wherever necessary.


Mar 31, 2014

I) The company has entered as a partner into partnership for development of land in and around Surat district of Gujarat in the name of M/s Mark Developers. The amount paid to this partnership, is classified as investment.

ii) Related Party Disclosure as per Accounting Standard 18 on "Related Party Disclosures":

(A) Names of the related parties and description of relationship:

Enterprises where control exist :

(i) Key Management Personnel (a) Mr. Vivek Sharma

ii) In the opinion of the Board of Directors, the current assets, loans and advances are approximately of the value stated if realized in the ordinary course of business. In the opinion of the Board of directors, the provisions for all the liabilities are adequate and not in excess of the amounts considered reasonably necessary and there are no contingent liabilities outstanding on the balance sheet date.

iii) There are no amounts due and outstanding to be credited to investor education & protection fund as at 31st March, 2014.

iv) The company has identified two reportable segments viz. Realty & Investment. Segments have been identified and reported taking into account nature of products & services, the differing risk and returns and the internal business reporting systems. The accounting policies adopted for segment reporting are in line with the accounting policy of the Company with following additional policies for segment reporting.

a) Revenue and expenses have been identified to a segment on the basis of relationship to operating activities of the segment. Revenue and expenses which are relate to enterprises as a whole and are not allocable to a segment on reasonable basis have been disclosed as "Unallocable".

b) Segment assets and segment liabilities represent assets and liabilities in respective segment. Other assets & liabilities that cannot be allocated to segment on reasonable basis have been disclosed as "Unallocable".

v) Balances of debtors creditors and loan & advances are subject to confirmation

vi) Additional information required vide Part II of Schedule VI of Companies Act, 1956 are either Nil or not applicable.

vii) The previous year''s figures have been regrouped, rearranged and reclassified wherever necessary.


Mar 31, 2013

I) The company has entered as a partner into partnership for development of land in and around Surat district of Gujarat in the name of M/s Mark Developers. The amount paid to this partnership, is classified as investment.

ii) Related Party Disclosure as per Accounting Standard 18 on "Related Party Disclosures":

(A) Names of the related parties and description of relationship:

Enterprises where control exist: (i) Key Management Personnel

(a) Mr. Vivek Sharma (ii) Associates Concern

(a) Mark Developers- Partnership Firm

i) There are no amounts due and outstanding to be credited to investor education & protection fund as at 31st March, 2013.

ii) The company has identified two reportable segments viz. Realty & Investment. Segments have been identified and reported taking into account nature of products & services, the differing risk and returns and the internal business reporting systems. The accounting policies adopted for segment reporting are in line with the accounting policy of the Company with following additional policies for segment reporting.

a) Revenue and expenses have been identified to a segment on the basis of relationship to operating activities of the segment. Revenue and expenses which are relate to enterprises as a whole and are not allocable to a segment on reasonable basis have been disclosed as "Unallocable".

b) Segment assets and segment liabilities represent assets and liabilities in respective segment. Other assets & liabilities that cannot be allocated to segment on reasonable basis have been disclosed as "Unallocable".

iii) Auditors remuneration & expenses charges to accounts:- Statutory Audit fees Rs. 33,708/- Tax Audit Fees Rs. 16,854/-

iv) Additional information required vide Part II of Schedule VI of Companies Act, 1956 are either Nil or not applicable.

v) The previous year''s figures have been regrouped, rearranged and reclassified wherever necessary.


Mar 31, 2012

(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 Company declares and pays dividend in Indian Rupees. The dividend proposed by the Board of directors is subject to the approval of the shareholders in ensuing Annual General Meeting. In event of liquidation of the Company, the holders of equity shares would be entitled to receive remaining assets of the Company, after distribution of all preferential amounts. The Distribution will be in proportion to the number of equity shares held by the shareholders.

(i) The company has entered as a partner into partnership for development of land in and around Surat district of Gujrat in the name of M/s Mark Developers. The amount paid to this partnership, is classified as investment.

(ii) Related Party Disclosure as per Accounting Standard 18 on "Related Party Disclosures":

(A) Names of the related parties and description of relationship:

Enterprises where control exist:

(i) Partnership Firms (a) Mark Developers

(ii) Key Management Personnel

(a) Mr. Vivek Sharma

(iii) In the opinion of the Board of Directors, the current assets, loans and advances are approximately of the value stated if realized in the ordinary course of business. In the opinion of the Board of directors, the provisions for all the liabilities are adequate and not in excess of the amounts considered reasonably necessary and there are no contingent liabilities outstanding on the balance sheet date.

(iv) There are no amounts due and outstanding to be credited to investor education & protection fund as at 31a March, 2012.

(v) The company is primarily engaged in the business of investment & trading, which as per accounting standard 17 on "Segment Reporting" issued by the ICAI is considered to the only reportable segment. The company is carrying on the construction business activity under trade name M/s OM VASISTHA DEVELOPERS in Kalyan. As there is no revenue generation from this segment, only on reportable segment exist. The company is primarily operating in India which is considered as a single geographical segment.

(vi) Auditors remuneration & expenses charges to accounts:- Auditfees Rs. 33,708/- Tax Audit Fees Rs. 16,854/-

(vii) Amalgamation of Company

The company has amalgamated with its 100% subsidiary Vinay Kumar Family Trading & holding Company limited pursuant to amalgamation scheme approved by Hon'ble High Court vide its order dt 03rd August,2012 w.e.f. 01.04.2011. Accordingly all assets, liabilities, income and expenses pertaining to both the company are group together, hence current year's figure are not comparable with previous year.

(viii) The authorized capital of company has been increased by Rs. 20,00,000 due to amalgamation of its Subsidiary Vinay Kumar Family Trading & Holding Co. ltd with effect from 01.04.2011 as per court order dated 03rd August,2012.

(ix) Additional information required vide Part 11 of Schedule VI of Companies Act, 1956 are either Nil or not applicable.


Mar 31, 2009

Not Available

 
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