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Notes to Accounts of Parab Infra Ltd.

Mar 31, 2013

1. RELATED PARTY TRANSACTIONS, TRANSACTIONS WITH RELATED PARTIES :

Amount of Outstanding

Unsecured Loans taken 10,18,500/-

Amount of Outstanding

Unsecured Loans Given 2,13,54,350/-

2. PREFERENTIAL ISSUE OF EQUITY SHARES:

During the year the company has made a preferential issue of 40,00,000 of Rs. 10/- each at par to the investors who have subscribed to the issue with the aim of maximizing the returns to the shareholders.

3. There is no earning in Foreign Exchange nor any expenditure in foreign Exchange.

4. There are no Sundry Creditors at the end of the year who has registered as Small Scale Industries. Hence relevant information is not applicable.

5. Previous year figures have been regrouped, rearranged and recosted to Correspond the figures of the current year.


Mar 31, 2012

A)Rights, preferences and restrictions attached to Equity shares

The Company has one class of equity shares having a par value of ` 10each. Each shareholder is eligible for one vote per share held. The dividend proposed by the Board of Directors,if any is subject to the approval of the shareholders in the ensuingAnnual General Meeting, except in case of interim dividend. In the event of liquidation, the equity shareholders are eligible to receive the remaining assets of the Company after distribution of all preferential amounts, in proportion to their shareholding.

1. RELATED PARTY TRANSACTIONS; TRANSACTIONS WITH RELATED PARTIES:

Amount of Outstanding Unsecured Loans taken 13,03,000/ Amount of Outstanding

Unsecured Loans Given 4,58,00,000/-

2. There is no earning in Foreign Exchange nor any expenditure in foreign Exchange.

3. There are no Sundry Creditors at the end of the year who has registered as Small Scale Industries. Hence relevant information is not applicable.

4. Previous year figures have been regrouped, rearranged and recosted to Correspond the figures of the current year.


Mar 31, 2011

1. The company has not made any investment in quoted Shares and unquoted shares. The company has sold during the year shares of Rs. 25,000 of Pooja Ferro Alloys Pvt. Ltd at cost i.e. Rs.25,000/-.

2. RELATED PARTY TRANSACTIONS;

Associates:

Annanaya Enterprises

Pankaj Dhoot HUF

P.C.Dhoot HUF

Total Investments P. Ltd

Dhoot Industries Ltd

Pankaj Dhoot & Co.

3. SEGMENT REPORTING (Accounting Standard-17)

The company operates under single business segment of Providing of Finance for Housing and Business.

4 There is neither earning in Foreign Exchange nor any expenditure in foreign Currency.

5. There are no Sundry Creditors at the end of the year who has registered as Small Scale Industries. Hence relevant information is not applicable.

6. Previous year figures have been regrouped, rearranged and recasted to Correspond to the figures of the current year.


Mar 31, 2010

1) CONTINGENT LIABILITIES NOT PROVIDED FOR:

1. In respect of penalty proceedings u/s 271(1) (c) of Income tax Act, 1961 for the assessment Year 1997-98, 1999-00 & 200-01 initiated on the quantum of additions made which are under are not ascertainable.

2. The company has not deposited the amount due on allotment amounting to Rs. 25000/- for the investment in the shares of Viraj Foregenings. The amount is payable with interest @ 18 % per annum from 30-11-1996. The shares may be forfeited non payment of allotment money.

3. The income tax assessment of the company has been completed up to assessment year 2001-02. The total demand of Income Tax under Appeal and in dispute is Rs. 26, 36,137/- pertaining to A.Y. 1992-93 and 1993-94. Pending decision of the appeal a sum of Rs. 10.00 Lacs has been deposited by the company under protest. The same has been treated as advance recoverable in cash or kind.

4. There is contingent liabilities of the company to the extent of Rs. 8,26,506/- to Madhya Pradesh state Electricity Board which is under dispute and any interest if any on such outstanding dues of Rs. 49,71,514/- towards power charges payable to the board. In the absence of any speculations for the same, the quantum is not ascertainable.

5. No provision has been made for annual listing fees since F.Y. 1998-99 for which company has been listed with Indore, Mumbai, Calcutta and ahemdabad Stock exchanges.

6. No provision for gratuity has been made in respect of gratuity payable to the staff, if Gratuity Act is applicable.

7. Balance of debtors, creditors and Loans and Advances are subject to confirmations, reconciliation and adjustment, if any.

8. in absence of details from the registrar to issue the liability for share application money could not be adjusted till date

9. Previous Year figures have been regrouped or rearranged to make the comparable with current year figures.

10. No provision for Doubtful Debts of Rs. 38.69 Lacs has been made out of which Rs. 2.36 Lacs are under dispute.

11. Deferred tax Assets have not been created in view of Accumulated Loss and Unabsorbed Depreciation. This is in conformity of AS-22 "Accounting for Taxes on income" issued by ICAI.

12. Earnings in Foreign Exchange:

Export of Goods on F.O.B. basis during the year was Rs. Nil (Previous Year Rs. Nil). Foreign Exchange outgo was Rs. Nil (Previous Year Rs. Nil).

13. The commercial production of the company was suspended from the month of October, 1999 and further on account of seizure and auction of the assets of the company by Madhya Pradesh State Electricity Board.

14. The Madhya Pradesh State Electricity Board, Mandsaur has auctioned the factory along with fixed assets lying in the factory fro Rs. 45.00 Lacs. The balance of Rs. 49, 71,514/- excluding the claim of expenses on auction is still outstanding The company has filed suit before District Judge, Mandsaur on 24-06-02 challenging the legality of the auction. The same is pending till the date of audit

15. The figures have been rounded off to the nearest rupee.

16. Additional information pursuant to the provision of the Part II of schedule - VI to the companies Act, 1956 is as per annexure.


Mar 31, 2002

1. CONTINGENT LIABILITIES NOT PROVIDED FOR :

(Rs. in Lacs) (Rs. in Lacs) (Cunentyear) (Previous Year)

a. Inrespect of telephone bills in the name of company. the matter is pending before consumer forum (A sum of Rs. 0.41 Lacs has been paid under protest). 0.51 0.51

b. In respect of capital subsidy received from Govt. or M.P. - 1.50

c. The company has not deposited the amount due on allotment amounting to Rs. 25,000/- for the investment in the shares of Viraj Forgings. The amount is payable with interest @ 18% per annum from 3011.96. The shares may be forfeited nonpayment of allotment money.

d. The Income Tax Assessment of the company has been completed upto assessment year 2000-2001. The total demand of Income-tax under appeal and in dispute is Rs. 26,36,137/- pertaining to A.Y. 92-93 to 93-84. Pending decision of the appeal a sum of Rs. 10,00,000/- has been deposited by the company under protest The same has been treated as advance recoverable in cash or kind

e. There is continegent liability of the company to the extent of Rs. 8,26,506/- to Madhya Pradesh State Electricity Board wich is under disupte.

f. No provision has been made for annual listing fees since F.Y. 1998-99 for wich company has been listed with Idore. Mumbai. Calcutta and Ahmedabad Stock Exchanges.

2. 1/10th of Miscellaneous Expenditure i.e. preliminary and public issue expenses etc,

3. No provision for gratuity has been made in respect of gratuity payable to the staff, if gratuity Act, is applicable.

4. Balance Debtors, Creditors and and Loan & advance are subject to confirmation, reconciliation and adjustments,if any

5. In absence of details from the Registration to issue, the liability for share application maoney could not be adjusted till date.

6. Previous year figures have been regrouped or rearranged to made them comparable with current year figures. The computer error occurred in figures of loss for the previous year has been correctly reflected in the previous year figures.

7. No provision for doubtful debts of Rs. 42.15 lacs has been made, out of which Rs.2.36 lacs are under dispute.

8. The commercial production of the company has been suspended from the month of May, 1999 and further on account of seizure and auction of the assets of the company by Madhya Pradesh State Electrity Board.

9. The Madya pradesh State Electricity Board, Mandsaur has auctioned the factory alongwith fixed assets lying in the factory for Rs. 45 lacs. The balance of Rs.49,71,514/- exduding the claim of expenses on auction is still outstanding. The company has filed suit before District Judge, Mandsaur on 24.6.02 challanging uction. The same is pending till the date of audit

10. The figures have been rounded off to nearest rupee.

11. Additional information pursuant to the provision of the part II of schedule VI to the company signature to schedule `A to `O For C.H. Padliya & Co. Chartered Accountants For Mandsaur Ferro Alloys Ltd.

(C.H. Padliya) (V.K. Jain) (N.D. Parekh) Partner. Managing Director Director Place: Botalganj, Mandsaur Dated: This 13th Day of August 2002.


Mar 31, 2000

1. CONTINGENT LIABILITIES NOT PROVIDED FOR :

a. In respect of telephone bills in the name of company, the matter is pending before consumer forum. (A sum of Rs. 0.41 Lacs has been paid under protest).

b. In respect of capital subsidy received from Govt. or M.P.

c. The company has not deposited the amount due on allotment amounting to Rs. 25.000/- for the investment in the shares of Viraj Foregenings the amount is payable with interest @ 18% per annum form 30-11-96. The shares may be forfeited on non deposition of allotment money

d. The Income Tax Assessment of the company has been completed upto assessment year 1997-98. The total demand of Income-Tax under appeal and in dispute is Rs. 26,36,137/- pending decision of the appeal a sum of Rs. 10,00,000/- has been deposited by the company under protest. The same has been treated as advance recoverable in cash or kind.

2. Depreciation on Fixed assets has been provided for the entire financial year on straight line method at the rates prescribed by schedule XIV (as amended) to the companies Act, Depreciation in respect of addition to such assets has been provided on prorata basis.

3. 1/10th of Miscellaneous Expenditure i.e. preliminary and public issue expenses etc. have been written off for the year.

4. No provision for gratuity has been made in respect of gratuity payable to the staff, if gratuity Act, is applicable.

5. Balance of Debtors, Creditors and Loan & advances are subject to confirmations, reconciliation and adjustments, if any.

6. In absence of details from the Registrar to issue, the liability for share application money could not be adjusted till date.

7. Previous year figures have been regrouped or rearranged to made them comparable with current year figures.

8. No provision for the bonus payable to employees has been made in view of losses.

9. No provision for doubtful debts of Rs. 3.85 lacs and advance to contractors of Rs. 0.47 lacs has been made.

10. The commercial production of the company has been suspended from the month of May 1999.

11. The figures have been rounded off to nearest rupee.


Mar 31, 1999

1. CONTINGENT LIABILITIES NOT PROVIDED FOR :

(Rs. in Lakhs) Current Year Previous Year a) In respect of telephone bills in the 0.51 0.51 name of Company, the matter is pending before Consumer Forum. (A sum of Rs. 0.41 lakhs has been paid under protest)

b) In respect of Capital subsidy 1.50 1.50 received from Govt. of M.P.

c) The Company has not deposited the amount due on allotment amounting to Rs. 25,000/- for the investment in the Shares of Virai Forgings Ltd. The amount is payable with interest @ 18% per annum from 30.11.1996. The Shares may be forfeited on non deposition of allotment money.

d) The Income Tax Assessment of the Company has been completed upto Assessment Year 1996-97. The total demand of Income Tax under appeal and dispute is Rs. 30,71,351/- Pending decision of the appeal a sum of Rs. 10,00,000/- has been deposited by the Company under protest. The same has been treated as Advance recoverable in cash or Kind.

2. Depreciation on Fixed Assets has been provided for the financial (****) straight line method at the rates prescribed by schedule XIV (as amended) to the Companies Act. Depreciation in respect of addition to such assets has been provided on prorata basis.

3. 1/10th of Miscellaneous Expenditure i.e preliminary, public issue expense etc. have been written off for the year.

4. As advised, provisions of Gratuity Act are not applicable to the Company.

5. Balance of Debtors, Creditors and Loan & Advances are subject to confirmation, reconciliation and adjustment, if any.

6. In absence of details from the Registrar to issue, the liability for Share Application Money could not be adjusted till date.

7. Previous year figures have been regrouped or rearranged to make them comparable with current year figures.

8. No provision for the bonus payable to employees has been made in view of losses.

9. No provision for interest payable on unsecured loans has been made in view at losses.

10. No provision for Doubtful Debts of Rs. 3.85 lacs and Advance to contractors of Rs. 0.47 lacs been made.

11. The figures have been rounded off to nearest rupee.

12. Additional information pursuant to the provision of the Part II of Schedule VI to the companies Act, 1956 is as per Annexure.


Mar 31, 1998

1. Depreciation on Fixed Assets has been provided for the entire financial Year on straight line method at the rates prescribed by schedule XIV (as amended) to the Companies Act. Depreciation in respect of addition to such assets has been provided on prorata basis.

2. 1/10th of Miscellaneous Expenditure i.e. preliminary, public issue expense etc. have been written off for the year.

3. As advised, provisions of Gratuity Act are not applicable to the Company.

4. As per the practise followed by the Company, Excise duty on finished goods liable to excise duty lying at the factory is accounted for on the removal of goods for sale.

5. In absence of details from the Registrar to Issue, the liability for Share Application Money could not be adjusted till date.

6. Balance of debtors, creditors and loan and advances are subject to confirmations, renconciliation and adjustments, if any.

7. Modvat credit is accounted for by reducing the purchase cost of related material.


Mar 31, 1997

1. Depreciation on Fixed Assets has been provided for the entire financial Year on straight line method at the rates prescribed by schedule XIV (as amended) to the Companies Act. Depreciation in respect of addition to such assets has been provided on prorata basis

2. 1/10th of Miscellaneous Expenditure i.e preliminary, public issue expense etc. have been written off for the year.

3. As advised, provisions of Gratuity Act are not applicable to the Company.

4. As per the practice followed by the Company. Excise duty on finished goods liable to excise duty lying at the factory is accounted for on the removal of goods for sale.

5. Balance of debtors, creditors and loan and advances are subject to confirmations, reconciliation and adjustments, if any.

6. Modvat credit is accounted for by reducing the purchase cost of related material.

7. Previous year figures have been regrouped or rearranged to make them comparable with current Year figures

8. No provision for the bonus payable to employees has been made in view of losses.


Mar 31, 1996

1. CONTINGENT LIABILITIES NO PROVIDED FOR:

a) Bills discounted against LIC from Nil 40.31 Dena Bank and Punjab National Bank, Mandsaur

b) In respect of telephone bills in 0.51 0.41 the name of the Company, the matter is pending before Consumer Forum (A sum of Rs.0.41 lakhs has been paid under protest during the year)

c) In respect of Capital subsidy received from Govt. of M.P. 1.50 1.50

d) In respect of following bank guarantees.

i) Bank Guarantee given to Tata Iron & Steel Co. Ltd., Calcutta. Against Letter of Credit. - 40.00

ii) Bank Guarantee to Central Excise, Ratlam against release of Seized Truck. - 0.75

iii) Bank Guarantee to Central Excise, Ratlam in respect of release of seized goods for Excise duty. - 0.06

e) The Income Tax Assessment of the Company has been completed upto Assessment Year 1993-94. The total demand of Income Tax under appeal and dispute is Rs.27,22,900/-. Pending decision of the appeal a sum of Rs. 10,00,000/- has been deposited by the Company under protest. The same has been treated as advance recoverable in cash or kind.

f) The order of Excise Authorities for the demand & Penalty of Rs.46,500/- has been set aside, pending revised orders no provision has been made.

2. A provision of Rs.43,00,000/- for the Income Tax for Asstt. year 1996-97 has been made, against the provision a sum of Rs.45,00,000/- has been paid as advance tax.

3. Depreciation on Fixed assets have been provided for the entire financial year on Straight line method at the rates prescribed under Schedule XIV (as amended) to the Companies Act, 1956 Depreciation in respect of addition to such assets has been provided on prorata basis.

4. 1/10th of Miscellaneous Expenditure i.e. preliminary public issue expenses etc. have been written off for the year.

5. As advised, provisions of Gratuity Act are not applicable to the Company.

6. As per the practice followed by the Company, Excise duty on finished goods liable to excise duty lying at the factory is accounted for on the removal of goods for sale.

7. Balances of debtors, creditors and loan and advances are subject to confirmations, rehabilitation and adjustments, if any.

8. Modvat credit is accounted for by reducing the purchase cost of related material.

9. The commercial production from the Unit No.11 commenced on 01.11.1995.


Mar 31, 1995

1. CONTINGENT LIABILITIES NOT PROVIDED FOR:

(Rs. in Lacs) Current Previous Year Year a) Security deposit and service line charges payable to M.P.E.B. in six equal monthly instalements. 8.72 5.65

b) Bills discounted against L/c from Dena Bank and PNB Mandsaur. NIL 40.31

c) In respect of telephone bills in the name of Company, the matter is pending before Consumer Forum 0.41 0.41

d) In respect of Capital subsidy received from Govt. of M.P. 1.50 1.50

e) In respect of following bank guarantees.

i) Bank guarantee given to Tata Iron Steel Co. Ltd. Calcutta. Against Letter of Credit. 40.00 -

ii) Bank gurantee to Central Excise, Ratlam against release of Seized Truck. 0.75 -

iii) Bank guarantee to Central Excise, Ratlam in respect of release of seized goods for Excise duty. 0.06 -

2. Depreciation on Fixed assets have been provided for the entire financial Year on straight line method at the rates prescribed by schedule XIV (as amended) to the Companies Act. Depreciation in respect of addition to such assets has been provided on prorata basis. (Fixed assets costing below Rs. 5,000/- purchased during the year have been fully written off during the year.

3. 1/10th of Miscellaneous Expenditure i.e. preliminary, public issue expenses etc. have been written off for the year.

4. As advised, provision of provident Fund and Gratuity Act are not applicable to the Company.

5. Previous year figures have been regrouped or rearranged to make them Comparable with current Year figures.

6. The figures have been rounded off to the nearest rupee.

7. As per the practice followed by the Company, Excise duty on finished goods liable to excise duty lying at the factory is accounted for on the removal of goods for sale.

8. Balance of debtors, creditors and loan and advances are subject to confirmations, reconciliation and adjustments, if any.

9. Modvat credit is accounted for by reducing the purchase cost of related material.

10. The Company's management reviews on a periodical basis the advances and debtors outstanding with a view to determining whether the same etc. are good or doubtful (and to their collectibility). The management determines whether the same are doubtful or bad wholly or in part. On the basis of such review and in pursuance of other prudent financial considerations, the board of Directors determines the extent of provision required to be created in respect of the same. Accordingly no provision for doubtful debts has been made.

11. No Income tax provision has been made, as the Company has been advised that there will be no taxable income in current year.

12. Additional information pursuant provision of the Part-II of Schedule VI to the Companies Act, 1956 is as per annexure.


Mar 31, 1994

1. 1/10th of Miscellaneous Expenditure i.e. Preliminary public issue etc. expenses have been written off for the year

2. As per the practice followed by the Company, Excise duty on finished goods liable to Excise duty lying at the factory is accounted for on the removl of goods for sale.

3. The Company's management reviews on a periodical basis the loan assets outstanding with a view to determining whether the loans etc. are good, bad or doubtful (and at otheir collectiility). The management determines whether the loan assets is doutful or bad wholly or inpart. On the basis of such review and in persuance of other prudent financial considerations, the board of Directors determines the extent of provision required tobe created in respect of such loan assets. Accordingly no provision for doubtful debts has been made.

4. No Income tax provision has been made as the Company has been advised that there will be no taxable income in current year.

5. Depreciation on Fixed assets has been provided for the entire financial year on straight line method at trhe rates prescribed by schedule XIV (as amended) to the Companies Act. Depreciation in respect of addition to such assets has been provided on prorata basis. Fixed assets costing below Rs.5,000/- purchased during the year have been fully written off during the year.


Mar 31, 1993

The company has commenced commercial production from 1st August, 1992.

Depreciation on Assets has been provided for the entire Financial year on straight line method at the rate prescribed by schedule XIV to the Companies (Amended) Act. 1988 read with Section 205(2)(b) of the Companies Act, 1956. Depreciation in respect of addition to and the deductions from assets has been charged on pro-rata basis with reference to the period of use of such assets.

The provision for Depreciation for Multiple shifts wherever applicable as per records and as advised has been made on the basis of the actual utilisation of respective eligible assets. Share issue and preliminary Expenses has been advised to write off over a period of 10 years and accordingly 1/10 of these expenses have been written off during the period.

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