Mar 31, 2014
RELATED PARTY DISCLOSURES
In compliance of Accounting Standard 18 on "Related Party Disclosures"
issued by the Institute of Chartered Accountants of India, the required
information is given below:
[1] Relationship:
[A] Key Management Personnel:-
Shri Ramesh G. Deora Director
[B] RELATIVES :- NIL
[C] Associate Body Corporate :- NIL
[D] Associate Concerns :- NIL
[E] Subsidiaries or Investing Companies: - NIL
[2] Transactions with Related Parties:- (In Rs.)
DISCONTINUED OPERATIONS
No Disclosure is required under the Accounting Standard 24 on
"Discontinuing Operations" as the company has not discontinued any line
of its activity/product line during the year.
IMPAIRMENT OF ASSETS
During the year, the company has undertaken a review of all fixed
assets inline with the requirements of AS 28 on "Impairment of Assets"
issued by the Institute of Chartered Accountants of India. Based on
such review, no provision for impairment is required to be recognized
for the year.
b. Terms/rights attached to equity shares
The company has only one class of equity shares having par value of Rs.
10/- per share. Each holder of equity shares is entitled to one vote
per share. The company declare and pays dividend in Indian rupee.
As per records of the company, including its register of share
holders/members and other declaration received from the share holders
regarding beneficial interest, the above share holding represents both
legal and beneficial ownership of shares.
2. The Revised Schedule VI has become effective from 1 April, 2013 for
the preparation of financial statements. This has significantly
impacted the disclosure and presentation made in the financial
statements. Previous year''s figures have been regrouped / reclassified
wherever necessary to correspond with the current year''s classification
/ disclosure
3. Figures have been rounded off to nearest rupee.
4. Balance of Sundry Debtors, Creditors, Loans and advances, unsecured
loans are subject to confirmation.
5. C.I.F. value of imports NIL NIL
6. Earning/expenditure in foreign currency NIL NIL
7. Contingent liabilities &Commitments NIL NIL
8. Quantitative Information
9. Break up of expenditure incurred on employess who were in receipt
of remuneration aggregating Rs. 2400000/- or more for year or Rs. 200000/-
or more per month, where employed for a part ofthe yearRs. Nil (Previous
YearRs. Nil).
10. Micro & Small Enterprises Dues
As per information given to us there were no amount overdue and
remaining outstanding to small scale and /or ancillary Industrial
suppliers on account of principal and/or interest as at the close of
the year. Based on the information available with company, there are no
dues outstanding to Micro and Small Enterprises as defined under Micro,
Small and Medium Enterprises Development Act, 2006 for more than 45
days as at March 31,2014.
11. The Revised Schedule VI has become effective from 1st April, 2013
for the preparation of financial statements. This has significantly
impacted the disclosure and presentation made in the financial
statements. Previous year''s figures have been regrouped/reclassified
wherever necessary to correspond with the current year''s
classification/disclosure.
Mar 31, 2012
PROVISIONS/PAYMENTS MADE TO DIRECTORS
Payments & Provisions for employees include Directors Remuneration
<=NIL(PY-<= NIL).
PROVISION FOR CONTINGENT LIABILITIES
Contingent liabilities (not provided for) is Nil.
CURRENT INCOME TAX
Tax provision has been made as per tax on the profits available to the
company under Income taxAct' 1961.
DEFERRED INCOME TAX
Considering the volume of huge accumulated losses' the management is of
the opinion that it is not necessary to recognise "Deferred Tax Assets"
as there is no reasonable certainty of recoupment past carry forward
losses. Hence no provision for "Deferred Tax Assets" as per the
Accounting Standard-22 on "Accounting for Taxeson lncome"issued by the
Institute of Chartered Accountants of India' isbeing made in
theaccounts.
In the opinion of the directors' current assets' loan and advances'
other than doubtful have the value at which they are stated in the
balance-sheet if realized in the ordinary course of business. The
provision for all known liabilities is adequate & not in excess of the
amount reasonably necessary.
DISCONTINUED OPERATIONS
No Disclosure is required under the Accounting Standard 24 on
"Discontinuing Operations" as the company has not discontinued any line
of its activity/product line during the year.
IMPAIRMENT OF ASSETS
During the year' the company has undertaken a review of all fixed
assets inline with the requirements of AS 28 on "Impairment of Assets"
issued by the Institute of Chartered Accountants of India. Based on
such review' no provision for impairment is required to be recognized
for the year..
Mar 31, 2011
1. Micro & Small Enterprises Dues
The Company has not received information from vendors regarding their
status under Micro, Small and Medium Enterprises Development Act, 2006
and hence disclosure relating to amounts unpaid as at the year end
together with interest paid / payable under this Act has not been
given.
2. Balances of Sundry Debtors, Creditors, Loans and advances are
subject to confirmation.
3. Payments & Provisions for employees include Directors Remuneration
Rs. NIL (P.Y.- Rs. NIL).
4. Contingent liabilities (not provided for) is Nil.
5. In the opinion of the directors, current assets, loan and advances,
other than doubtful have the value at which they are stated in the
balance-sheet if realized in the ordinary course of business. The
provision for all known liabilities is adequate & not in excess of the
amount reasonably necessary.
6. Tax provision has been made as per tax on the profits available to
the company under Income tax Act,1961.
7. Considering the volume of huge accumulated losses, the management
is of the opinion that it is not necessary to recognise "Deferred Tax
Assets" as there is no reasonable certainty of recoupment past carry
forward losses. Hence no provision for "Deferred Tax Assets" as per the
Accounting Standard-22 on "Accounting for Taxes on Income" issued by
the Institute of Chartered Accountants of India, is being made in the
accounts.
8. Figures have been rounded off to nearest rupees.
9. Previous year figures are regrouped, rearranged, wherever
necessary.
10. In compliance of Accounting Standard à 18 on "Related Party
Disclosures" issued by the Institute of Chartered Accountants of India,
the required information is given below :
[1] Relationship :
[A] Key Management Personnel :-
Shri Champalal G. Agarwal C M D
Shri Subhashchand O. Agarwal Director
Shri Sumit C. Agarwal Director
[B] RELATIVES :- NIL
[C] Associate Body Corporate :-
Gopi Synthetics Pvt. Ltd.,
Omkar Textile Mills Pvt.Ltd.,
Arnav Textile Mills Pvt. Ltd.,
Arnav Industries Pvt. Ltd.,
[D] Associate Concerns :-
Omkar Finance Corporation,
Pooja Enterprise,
Arnav Industries,
Jash Industries.
[E] Subsidiaries or Investing Companies :- NIL
11. No Disclosure is required under the Accounting Standard - 24 on
"Discontinuing Operations" as the company has not discontinued any line
of its activity/product line during the year.
12. During the year, the company has undertaken a review of all fixed
assets in line with the requirements of AS - 28 on "Impairment of
Assets" issued by the Institute of Chartered Accountants of India.
Based on such review, no provision for impairment is required to be
recognised for the year.
13. No. of Employees employed throughout the F.Y. 2010-11 who are in
receipt of remuneration aggregating to Rs. 24,00,000/- p.a. or more or
Rs. 2,00,000/- p.m. or more in case of employees employed for the part
of the financial year is NIL.
Mar 31, 2010
1. Micro & Small Enterprises Dues
The Company has not received information from vendors regarding their
status under Micro, Small and Medium Enterprises Development Act, 2006
and hence disclosure relating to amounts unpaid as at the year end
together with interest paid / payable under this Act has not been
given.
2. Balances of Sundry Debtors, Creditors, Loans and advances are
subject to confirmation.
3. Payments & Provisions for employees include Directors Remuneration
Rs. NIL (P.Y.- Rs. NIL).
4. Contingent liabilities (not provided for) is Nil.
5. In the opinion of the directors, current assets, loan and advances,
other than doubtful have the value at which they are stated in the
balance-sheet if realized in the ordinary course of business. The
provision for all known liabilities is adequate & not in excess of the
amount reasonably necessary.
6. Tax provision has been made as per tax on the profits available to
the company under Income tax Act,1961.
7. Considering the volume of huge accumulated losses, the management
is of the opinion that it is not necessary to recognise "Deferred Tax
Assets" as there is no reasonable certainty of recoupment past carry
forward losses. Hence no provision for "Deferred Tax Assets" as per the
Accounting Standard-22 on "Accounting for Taxes on Income" issued by
the Institute of Chartered Accountants of India, is being made in the
accounts.
8. Figures have been rounded off to nearest rupees.
9. Previous year figures are regrouped, rearranged, wherever
necessary.
10. In compliance of Accounting Standard - 18 on "Related Party
Disclosures" issued by the Institute of Chartered Accountants of India,
the required information is given below :
[1] Relationship :
[A] Key Management Personnel :-
Shri Champalal G. Agarwal C M D
Shri Subhashchand 0. Agarwal Director
[B] RELATIVES :- NIL
11. No Disclosure is required under the Accounting Standard - 24 on
"Discontinuing Operations" as the company has not discontinued any line
of its activity/product line during the year.
12. During the year, the company has undertaken a review of all fixed
assets in line with the requirements of AS - 28 on "Impairment of
Assets" issued by the Institute of Chartered Accountants of India.
Based on such review, no provision for impairment is required to be
recognised for the year.
13. Additional information pursuant to the provisions of para 3 & 4 of
part II, schedule VI of the Companies Act,1956 to the extent applicable
to the company.
14. No. of Employees employed throughout the F.Y. 2008-09 who are in
receipt of remuneration aggregating to Rs. 24,00,000/- p.a. or more or
Rs. 2,00,000/- p.m.or more in case of employees employed for the part
of the financial year is NIL.
Mar 31, 2009
1. Micro & Small Enterprises Dues
The Company has not received information from vendors regarding their
status under Micro, Small and Medium Enterprises Development Act, 2006
and hence disclosure relating to amounts unpaid as at the year end
together with interest paid / payable under this Act has not been
given.
2. Balances of Sundry Debtors, Creditors, Loans and advances are
subject to confirmation.
3. Payments & Provisions for employees include Directors Remuneration
Rs. NIL (P.Y.- Rs.2,40,000).
4. Contingent liabilities (not provided for) is Nil.
5. In the opinion of the directors, current assets, loan and advances,
other than doubtful have the value at which they are stated in the
balance-sheet if realized in the ordinary course of business. Thej
provision for all known liabilities is adequate & not in excess of the
amount Reasonably necessary.
6. Tax provision has been made as per tax on the profits available to
the company under Income tax Act,1961.
7. Considering the volume of huge accumulated losses, the management
is of the opinion that it is not necessary to recognise "Deferred Tax
Assets" as there is no reasonable certainty of recoupment past carry
forward losses. Hence no provision for "Deferred Tax Assets" as per the
Accounting Standard-22 on "Accounting for Taxes on Income" issued by
the Institute of Chartered Accountants of India, is being made in the
accounts.
8. Figures have been rounded off to nearest rupees.
9. Previous year figures are regrouped, rearranged, wherever necessary.
10. In compliance of Accounting Standard - 18 on "Related Patty
Disclosures" issued by the Institute of Chartered Accountants of
Indj.a, the required information is given below :
[11] Relationship :
[A. Key Management Personnel :-
Shri Champalal G. Agarwal C M D
Shri Subhashchand O. Agarwal Director
[B] RELATIVES :- NIL
[C] Associate Body- Corporate :-
Gopi Synthetics Pvt. Ltd., Omkar Textile Mills Pyt.Ltd., Omkar
Industries Limited.
[D] Associate Concerns :-
Omkar Finance Corporation
[E] Subsidiaries or Investing Companies :- NIL
12. No Disclosure is required under the Accounting Staridard - 24 on
"Discontinuing Operations" as the company has not discontinued any,
line of its activity/product line during the year.
13. During the year, the company has undertaken a review of all fi^ed
assets in line with the requirements of AS - 28 on "Impairment of
Assets" issued by the Institute of Chartered Accountants of India.
Based on such review, no provision for impairment is required to be
recognised for the year.
14. No. of Employees employed throughout the F.Y. 2008-09 who are
injreceipt of remuneration aggregating to Rs. 24,00,000/- p.a. or more
or Rs.j2,00,000/- p.m.or more in case of employees employed for the
part of the financial year is NIL.