Mar 31, 2015
1. Related party disclosures as required in terms of Accounting
Standards (AS-18) on Related Party disclosures issued by The Institute
of Chartered Accountants of India are as under
1. Key Management Personnel:
T.K.Parnami - Managing Director
2. The related enterprises / persons are:
Anil Kumar Parnami - Promoter
T.K.Parnami - Managing Director
V S Developer Pvt. Ltd. - Associated Company
Suman Villas Pvt. Ltd. - Associated Company
3 Details of transaction / payments:
Name Particulars Amount (Rs.)
T.K.Parnami Remuneration 540000
Anil Kumar Parnami Loan Taken 4350000
Loan Repaid 4350000
Interest Paid (Net of TDS) 45000
V S Developrs P ltd Office Rent & Electricity 585000
Chgs Paid
Suman Villas P Ltd Advance Paid 8400000
Advance received 8738850
Interest Recd (Net of TDS) 388850
a. The above loans /advances are carry interest
b. The above related party information is disclosed to the extent such
parties have been identified by the management on the basis of
information available.
This is relied upon by the auditors.
2. The Company has not received any information / memorandum from the
suppliers ( as required to be filed by Suppliers / Vendors with the
notified authority under Micro, Small and Medium Enterprises
Development Act,2006), claiming their status as Micro, Small or Medium
Enterprises. Consequently, the amount paid / payable together with
interest paid / payable to these parties under the Act is Nil.
3. In terms of provisions of Schedule V of the Companies Act,2013
read with the Companies (Particulars of Employees) Rules,1975 none of
the employees are in receipt of remuneration in excess of Rs 5,00,000
per month or Rs 60,00,000 p.a.as per the limits stated in the
provisions.
4. The disclosures required under Accounting Standard 15 "Employee
Benefits" notified in the Companies ( Accounting Standard ) Rules 2006
is not relevant to the Company as informed by the management that
retirement benefits are not given to the employees of the Company. Thus
no actuarial valuation has been done and provided by the Company.
5. Segment Information (AS 17)
The primary segment reporting format is determined to be business
segments as the company's risks and rates of return are affected
predominantly by differences in the segments being operated,
The Company operates only in India and therefore the analysis of
geographical segments is limited to Indian operations only.
6. Previous year's figures have been rearranged / regrouped wherever
necessary.