Mar 31, 2014
1 - During the year the company mas operational mainly in trading
activity .Hence Segment Reporting is not applicable
2. : Related party Disclosure JL Relationships
Name of Related Party Relationship
G P Surana Managing Director
Pataiay Chandra Mohan Rao Director
Ravi Surana Director
Casula Raj kumar Dirertor
PM Telecom Other Related Party
3. Previous year''s figures have been regrouped / rearranged wherever
necessary, so as to make them comparable with those of the current
year.
Mar 31, 2013
Not Available.
Mar 31, 2012
1 Previous year figures have been regrouped,rearranged and reworked
wherever necessary.
2 Depreciation is not claimed as the Fixed Assets are not put to use
even for a single day during the relevent Financial Year.
3 The contingent liabilities not provided in the accounts are: towards
Central Excise 80 Lacs towards
Income Tax 54 Lacs
4. Accounting Convention:
The Financial Statements are prepared under the Historical Cost
Convention method except so far as they relate to the revaluation of
certain Fixed Assets in an earlier year.
5. Revenue Recognition :
a) Sale of goods is recognised at the point of despatch to
customers.Sales are inclusive of Excise Duty & Sales Tax.
b) Discounting Charges on Bills are accounted at the point of
occurrence.
c) Other Income is recognised at the point of receipt of consideration
6. Fixed Assets:
a) Assets revalued m earlier years are stated at revalued cost less
depreciation.
b) Other assets are stated at their original cost less depreciation.
c) The Cost of Assets is net of Cenvat & include directly attributable
interest, costs and expenses for bringing the respective assets to the
working condition for their intended use.
7. Investments
Investments are stated at cost
8. Depreciation is not claimed as the Fixed Assets are not put to use
even for a single day during the releventRnancial Year, and the company
will claim the same as and when the BIFR gives its verdict and the
company starts its production.
9. Related Party Disclosures - As required by AS-18 are as: (a)
Relationships:
Category -1 - Major shareholders in the Company - Promoters of Company
who are holding 56.31 % stake.
Category - II - Subsidiaries and Associates of the Company - None.
Category - III -Other related parties where common control exists
Golconda Engg. Enterprises Ltd.
Category - IV- Key Managerial Personnel - Sri G.P.Surana, Managing
Director.
Category - V- Relatives of Key Managerial Personnel -Sri G.P.Surana,
Father of Ravi Surana
Category - VI- Key Managerial Personnel -Remuneration
Mar 31, 2010
1. The Total Sales tax deferrment Account is Rs.230.84 Lakhs (Previous
year Rs. 28005 Lakhs). The Account is restructered to give correct
picture as per the Order Passed by the CTO, S.D.Road Circle.
Secunderabad.
2. Depreciation is not claimed as the Fixed Assets are not put to use
even for a single day during the retevent Financial Year, and the
company will claim the same as and when the BIFR gives its verdict and
the company starts its production.
3. Related Party Disclosures - As required by AS-18 are as. (a)
Relationships: Category -1 - Major shareholders in the Company -
Promoters of Company who are holding 41.48% stake
Category - II - Subsidiaries and Associates of the Company - None.
Category - III Other related parties where common control exists
Kaveri (India) Ltd. P.M.Strips Ltd.
Golconda Engg Enterprises Ltd. Surana Securities Ltd.
Surana Steels Ltd.
Category - IV- Key Managerial Personnel -Sri G.P.Surana. Managing
Director.
Category - V- Relatives of Key Managerial Personnel -Sri G.P.Surana.
Father of Ravi Surana & Dipin Surana.
Category - VI- Key Managerial Personnel -Remuneration
Names of the person Salary & perks
Sri G.P Surana. M.D. 0
(Paid against due to the M.D.)
Total 0
Mar 31, 2009
Not Available