Mar 31, 2016
1 Provisions. Contingent Liabilities And Contingent Assets
(Provisions are recognised only when there is a present obligation as a result of past events and when a reliable estimate of the amount of obligation can be made.
(ii) Contingent liability is disclosed for
(1) Possible obligations which will be confirmed only by future events not wholly within the control of the Company or
(2) Present obligations arising from past events where it is not probable that an outflow of resources will be required to settle the obligation or a reliable estimate of the amount of the obligation cannot be made.
(iii) Contingent Assets are not recognised in the financial statements since this may result in the recognition of income that may never be realised.
2 Segment Reporting
(i) Business Segments have been identified on the basis of nature of products/services. The Company''s operations relate to trading of goods, trading in shares, selling of film rights and consultancy.
(ii) Revenue and expenses have been identified to a segment on the basis of relationship to operating activities of the segment. Revenue and expenses which relates to enterprise as a whole and are not allocable to a segment on reasonable basis have been disclosed as "unallowable".
(iii) Segment Assets and Segment Liabilities represents assets and liabilities in respective segments. Investments, tax related assets and other assets and liabilities that cannot be allotted to a segment on reasonable basis, have been disclosed as "unallowable"
3 Impairment of Assets
The Company assesses at each Balance Sheet date whether there is any indication that an asset may be impaired. If any such indication exists ,the Company estimates the recoverable amount of the assets. If such recoverable amount of the asset or the recoverable amount of the cash generating unit to which the asset belongs is less than its carrying amount, the carrying amount is reduced to its recoverable amount. The reduction is treated as an impairment loss and is recognised in the Profit and Loss Account. If at the Balance Sheet date there is an indication that if a previously assessed impairment loss no longer exists, the recoverable amount is reassessed and the asset is reflected at the recoverable amount.
Other additional information required as per Schedule III of the Companies Act,2013 is either Nil or Not Applicable to the Company during the year.
ii Balance of Debtors & Creditors and loans & Advances are subject to confirmation & Reconciliation.
iii Share application money given is subject to confirmation.
iv Odyssey Group PTE Ltd. ceased to be subsidiary company on 31st March, 2015.
vi Related Party Disclosures: -
In accordance with ''Accounting Standard -18'' relating to Related Party Disclosures, information pertinent to related party transaction is given as under:-
© Enterprise owned or significantly influenced by key management personnel or their relatives:-
1. Alacrity Securities Limited
2. Pooja Equi-Research Private Limited
3. Earth Stone Resources Zambia Limited
Figure in bracket relates to previous year.
vii The above information regarding Micro, Small And Medium Enterprises has been determined to the extent such parties have been indentified on the basis of the information available with the company.
This has been relied upon by the Auditor.
viii Segment Reporting
During the year the company operated in signal business segment of trading business in India. Hence there are no separate reportable business or geographical segments as per Accounting Standard (AS-17) on Segmental Reporting.
ix Previous Years figures have been regrouped/reclassified wherever necessary to confirm to the current years classification.
Mar 31, 2015
A) Terms / Rights attached to the Equity Shares:-
i) The company has only one class of Equity Shares having a par value
of Rs. 5/- per share. Each holder of Equity Share is entitled to one
vote per share.
ii) The company declares and pays dividend in Indian Rupees. The
dividend proposed by the Board of Directors is subject to approval of
the Shareholders in the ensuing Annual General Meeting.iii)In the event
of liquidation of the Company the holders of Equity Shares will 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.
Note 1.1
Pursuant to the enactment of Companies Act 2013, the company has
applied the estimated useful lives as specified in Schedule II.
The written down value of Fixed Assets whose lives have expired as at
1st April, 2014 have been adjusted in opening balance of Profit and
Loss Account to Rs. 122,322 & correspondingly Deferred Tax Asset of Rs.
37,798.
Note 2.1
i) Out of 2,10,00,000 equity shares of Syncom Formulation (India) Ltd.
1,50,00,000 shares has been given as loan to and 60,00,000 shares has
been pledged with the Canara Bank for availing facilities by the
Alacrity Securities Ltd.
ii) 16,012 equity shares of Chennai Ferrous Industries Ltd & 18,299
equity shares of Geeta Renewable Energy Ltd. received on account of
demerger of Kanishk Steel India Ltd.
Mar 31, 2014
1) Terms / Rights attached to the Equity Shares:-
i) The company has only one class of Equity Shares having a par value
of Rs. 5/- per share Each holder of Equity Share is entitled to one
vote per share.
ii) The company declares and pays dividend in Indian Rupees. The
dividend proposed by the Board of Directors is subject to approval of
the Shareholders in the ensuing Annual General Meeting.iii)In the event
of liquidation of the Company, the holders of Equity Shares will 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.
2 Capital and other commitments:
Estimated amount of capital corntract remaining to be executed and not
provided for (net of advance) NIL (Previous year-146,75,000)
3 Balances Of Debtors & Creditors And Loans & Advances Are Subject To
confirmation & Reconciliation Share Application Money Given Is Subject
To Confirmation.
4 In respect Of Amounts Mentioned under section 205C of the Companies
Act, 1956 there were no dues required to be credited to the Investor
education and Protection Fund as on 31st March, 2014.
5 No Borrowing Costs have been capitalised during the year.
6 The above information regarding Micro, Small And Medium Enterprises
has been determined to the extent such parties have been indentified on
the basis of the information available with the company. This has been
relied upon by the Auditor.
7 Segment Reporting
During the year the company operated in signal business segment of
trading business in India. Hence there are no separate reportable
business or geographical segments as per Accounting Standard (AS-17) on
Segmental Reporting.
8 Other additional information required as per Schedule VI of the
Companies Act,1956 is either Nil or Not Appliacble to the Company
during the year.
9 Previous Years figures have been regrouped/reclassified wherever
necessary to confirm to the current years classification.
Mar 31, 2013
1 Capital and other commitments:
Estimated amount of capital contract remaining to be executed and not
provided for (net of advance) Rs. 146,75,000/- (Previous year-Nil)
2 In respect Of Amounts Mentioned under section 205C of the Companies
Act, 1956 there were no dues required to be credited to the Investor
education and Protection Fund as On 31st March, 2013.
3 No Borrowing Costs have been capitalised during the year
4 The above information regarding Micro, Small And Medium Enterprises
has been determined to the extent such parties have been indentified on
the basis of the information available with the company.
This has been relied upon by the Auditor.
5 Segment Reporting
During the year the company operated in signal business segment of
trading business in India. Hence there are no separate reportable
business or geographical segments as per Accounting Standard (AS-17) on
Segmental Reporting.
6 Other additional information required as per Schedule VI of the
Companies Act,1956 is either Nil or Not Applicable to the Company
during the year.
7 Previous Years figures have been regrouped/reclassified wherever
necessary to confirm to the current years classification.
Mar 31, 2011
1 As per the best estimate of the management, no provision is required
to be made as per Accounting Standard [AS-29] Provisions, Contingent
Liabilities and Contingent Assets notified by The Companies (Accounting
Standard) Rules, 2006, in respect of present obligation as a result of
past event that could lead to probable outflow of resources, which
would be required to settle the obligation
2 The estimated amount of contracts remaining to be executed on capital
account and not provided for is Rs.1 50 lacs
3 During the year the company has entered into Joint venture agreement
as co-producer with M/s Harvey India Production a unit of Harvey India
Tours & Travels Private Limited for producing one Hindi feature film.
The company's commitment towards the said project would be Rs. 250
lacs. The company has already invested Rs. 100 lacs towards this
project. The company has 50% share in the profit of the said project
4 In respect of advances of Rs. 100 lacs against which supply of
material is pending beyond the stipulated delivery schedule. The
Company is pursuing parties for refund / supply of material for above
amount
5 The Company is a Small and Medium Size Company (SMC) as defined in
the General Instruction in respect of Accounting Standard notified
under the Companies Act, 1956. Accordingly, the Company has complied
with the Accounting Standards as applicable to Small and Medium Sized
enterprises
6 In respect of amounts as mentioned under Section 205C of the
Companies Act, 1956, there were no dues required to be credited to the
Investor Education and Protection Fund as on March 31, 2011
7 No borrowing costs have been capitalised during the year
8 The company has not received any intimation from the suppliers
regarding status under Micro, Small and Medium Enterprises Development
Act, 2006 (the act) and hence the disclosure regarding
a) Amount due and outstanding to Suppliers as at the end of the
accounting year;
b) Interest paid during the year;
c) Interest payable at the end of the accounting year;
d) Interest accrued and unpaid at the end of the accounting year, has
not been provided
The above information regarding Micro, Small and Medium Enterprises has
been determined to the extent such parties have been identified on the
basis of information available with the Company. This has been relied
upon by the auditors
9 Previous year figures have been regrouped / reclassified wherever
necessary to conform to the current year's classification
Mar 31, 2010
1 Contingent Liabilities:
Particulars As At As At
31-Mar-10 31-Mar-09
Rs. Rs.
Contingent Liabilities - -
- -
2 As per the best estimate of the management, no provision is required
to be made as per Accounting Standard (AS-29) Provisions, Contingent
Liabilities and Contingent Assets notified by The Companies (Accounting
Standard) Rules, 2006, in respect of present obligation as a result of
past event that could lead to probable outflow of resources, which
would be required to settle the obligation.
3 Information required under paragraphs 3 and 4 of part II to Schedule
VI of the Companies Act, 1956 are stated to the extent applicable to
the company.
4 Related Party Disclosure
As per Accounting Standard 18 - "Related Party Disclosures" notified by
The Companies (Accounting Standard) Rules, 2006, the companys related
parties are as under:
i) Key Management personnel (KMP)
Name of the Persons Relationship
Hemanshu Mehta Director
Paresh Mahajan Director
Denis Selarka Director
Samar Singh Director
ii) Relative of key management personnel
Name of the KMP Name of the Relative Relationship
1) Mr Hemanshu Mehta Bina Mehta Spouse
Pooja Mehta Daughter
Karishma Mehta Daughter
Hiten Mehta Brother
Ramniklal Mehta Father
Jyoti Mehta Mother
2) Mr. Paresh Mahajan Jagruti Mahajan Spouse
Parth Mahajan Son
Bhupendra Mahajan Father
3) Mr. Denis Selarka Hasmukhlal Selarka Father
4) Mr. Samar Singh Vishwanath Singh Father
Usha Singh Mother
Vishal Singh Brother
Vikrant Singh Brother
iii) Other Related parties Name of the Related Party
i) Alacrity Securities Limtied
ii) Tekstar Networks India Private Limited
iii) Adler Security Systems Private Limited
iv) Padma Impex Private Limited
Relationship
Entities where KMPs and the relative/s of KMP are interested as a
Director or a shareholder or partner or proprietor.
5 The Company is a Small and Medium Size Company (SMC) as defined in
the General Instruction in respect of Accounting Standard notified
under the Companies Act, 1956. Accordingly, the Company has complied
with the Accounting Standards as applicable to Small and Medium Sized
enterprises.
6 In respect of amounts as mentioned under Section 205C of the
Companies Act, 1956, there were no dues required to be credited to the
Investor Education and Protection Fund as on March 31,2009.
7 No borrowing costs have been capitalised during the year.
8 The company has not received any intimation from the suppliers
regarding status under Micro, Small and Medium Enterprises Development
Act, 2006 (the act) and hence the disclosure regarding :
a) Amount due and outstanding to Suppliers as at the end of the
accounting year;
b) Interest paid during the year;
c) Interest payable at the end of the accounting year;
d) Interest accrued and unpaid at the end of the accounting year, has
not been provided.
The above information regarding Micro, Small and Medium Enterprises has
been determined to the extent such parties have been identified on the
basis of information available with the Company. This has been relied
upon by the auditors.
9 Previous year figures have been regrouped / reclassified wherever
necessary to conform to the current years classification.
Mar 31, 2009
Not Available