Mar 31, 2014
1 Balances of personal accounts like Unsecured Loans, Receivables,
Payables and Loans & Advances are subject to their respective
confirmations and reconciliations,
2 Figures of the previous year have been regrouped or rearranged,
wherever considered necessary, to suit the current year''s presentation.
3 Contingent liabilities & commitments (to the extent not provided for)
Contingent liabilities.
Mar 31, 2013
1.01). Accounting Assumptions
The financial statements are prepared under the historical cost
convention, on accrual basis of accounting and in accordance with the
provisions of the Companies Act, 1956 and the accounting standards
notified by the Companies (Accounting Standards) Rules, 2006 (Indian
GAAP), as adopted consistently by the Company.
1.02). Use of estimates
The preparation of financial statements requires management to make
estimates and assumptions that affect the reported amounts of assets
and liabilities, disclosure of contingent liabilities as at the date of
the financial statements and reported amounts of revenue and expenses
during the reported period. Actual results could differ from these
estimates and any revision to such accounting estimates is recognised
prospectively in the period in which the results are ascertained.
2 Balances of personal accounts like Unsecured Loans, Receivables,
Payables and Loans & Advances are subject to their respective
confirmations and reconciliations.
3 Figures of the previous year have been regrouped or rearranged,
wherever considered necessary, to suit the current year''s
presentation.
Mar 31, 2012
(i) Terms/rights attached to Equity Shares:
The company has one class of equity shares having a par value of Rs.
10.00 per share. Each holder of equity shares is entitled to one vote
per share. 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 shall be according to the members right and interest in
the Company.
NOTES : 1. The lease hold land has been obtained from M.P. Audyogik
Vikas Nigam (Raipur) Limited for a term of 99 Years.
No amortization on account of lease hold land has been made in the
books of account during the year.
2. Depreciation has been provided at the rates and in the manner
prescribed in Income Tax Act. 1961.
Note: Figures shown in Brackets represent previous year figures.
Notes to accounts forming part of Financial Statement ended on
31.03.2012
3 Balances of personal accounts like Unsecured Loans, Receivables,
Payables and Loans & Advances are subject to their respective
confirmations and reconciliations.
4 Figures of the previous year have been regrouped or rearranged,
wherever considered necessary, to suit the current year's presentation.
Mar 31, 2011
1 CONTINGENT LIABILITIES
a. Estimated amount of contracts remaining Not Ascertained
to be executed on Capital Account and (Not Ascertained)
not provided for.
b. Outstanding guarantee furnished to Rs. NIL Lacs
Banks in respect of Letter of Credit. Rs. (NIL)Lacs
c. Claims against the Company/disputed NIL
liabilities not acknowledged as debts. (NIL)
2. Balances under Secured Loans, Unsecured Loans, Sundry Debtors, Cash
& Bank Balances, Advance and Deposited, Current Liabilities and
Provisions, Sundry Creditors and Other Credit Balances etc. are subject
to confirmation and reconciliation, if any
3. Mercantile method of Accounting is employed by the concern except
otherwise specifically stated However where the amount is immaterial /
negligible and or where the establishment of accrual and or
determination of accrual and or determination of amount is not
possible, no provisions are made
4. During the year depreciation on fixed assets is provided on WDV
method at the rate and in the manner prescribed in the Income Tax Act,
1961.
5. Provision for Income Tax has not been made as the company has
incurred loss during the year
6. Provision for Fringe Benefit Tax liabilities has been made during
the year as advise to the Company.
7. In the opinion of the management the current assets loans and
advances are approximately of the value stated if realized in the
ordinary course of business and provision for all known liabilities are
adequate and not in excess of the amount reasonable necessary
8. Previous Year's figures have been regrouped / rearranged wherever
considered necessary.
9. The Company has taken a policy from Life Insurance Corporation of
India towards the liabilities on account of gratuity payment.
10. As informed by the Director that no material event have occurred
after the fate of Balance Sheet
11. The Company is not making any provisions for deferred tax
liability in the books of accounts as advise to the Company.
Mar 31, 2010
1 CONTINGENT LIABILITIES
a. Estimated amount of
contracts remaining Not Ascertained
to be executed on
Capital Account and
not provided for. (Not Ascertained)
b. Outstanding
guarantee furnished to Rs. NIL Lacs
Banks in respect of
Letter of Credit. Rs. (NIL)Lacs
c. Claimsagainst
the Company/disputed NIL
liabilities
not acknowledged
as debts. (NIL)
2. Balances under Secured Loans, Unsecured Loans, Sundry Debtors, Cash
& Bank Balances, Advance and Deposited, Current Liabilities and
Provisions, Sundry Creditors and Other Credit Balances etc. are
subjectto confirmation and reconciliation, if any.
3. Mercantile method of Accounting is employed by the concern except
otherwise specifically stated.
However where the amount is immaterial / negligible and or where the
establishment of accrual and or determination of accrual and or
determination of amount is not possible, no provisions are made.
4. During the year depreciation on fixed assets is provided on WDV
method at the rate and in the manner prescribed in the IncomeTax Act,
1961.
5. Provision for Income Tax has not been made as the company has
incurred loss during the year.
6. Provision for Fringe Benefit Tax liabilities has been made during
the year as advise to the Company.
7. In the opinion of the management the current assets loans
and-advances are approximately of the value stated if realized in the
ordinary course of business and provision for all known liabilities are
adequate and not in excess of the amount reasonable necessary.
8. Previous Years figures have been regrouped / rearranged wherever
considered necessary.
9. Bank fixed deposit of Rs. 51500.00 have been deposited towards
security deposit as follows :
1. F.D.R.of Rs. 20,000/-WithM.P.A.K.V.N.(R)Ltd., Bhopal
2. F.D.R. of Rs. 7,000/-With Sales Tax Department, Raipur
3. F.D.R.of Rs. 10,000/-With Sales Tax Department, Bangalore
4. F.D.R.of Rs. 13,500/-With Excise Department, Raipur
5. F.D.R.of Rs. 1,000/-With Forest Department, Raipur
Interest on these
. will be accounted for on cash basis.
10. The Company has taken a policy from Life Insurance Corporation of
India towards the liabilities on account of gratuity payment.
11. The Company has been advised that the Computation of net profit
for the purpose of Directors remuneration under Section 349 of the
Companies Act, 1956 need not be enumerated since no commission has been
paid to the Directors. Remuneration has been paid to the Director as
per Schedule XIII of the Company Act, 1956 as mentioned below:
1. Salary to Managing Director Rs. 2.52 Lacs P.A.
(Previous Year
Rs. 2.52 Lacs PA)
2. Salary to Executive Director Rs. 2.16 Lacs P.A.
(Previous Year
Rs. 2.16 Lacs P.A.)
12. As informed by the Director that no material event have occurred
after the fate of Balance Sheet.
13. The Company is not making any provisions for deferred tax
liability in the books of accounts as advise to the Company.