Mar 31, 2014
1. Previous year''s figures have been regrouped, recast, rearranged
wherever necessary to conform to this year''s classification. Figures in
bracket represent figures pertaining to financial year 2012-2013,
unless stated otherwise. Amounts are mentioned in Rupees.
2. There are no earnings and expenditures in foreign currency.
3. Contingent liabilities not provided for in respect of:
a) Excise duty of Rs. 103,934/- was paid under protest during the year
2003-2004 against demand raised by Central Excise Department. Excise
Department has appealed against the order of the Tribunal, which was in
favor of the company. Out of the total appealed amount of Rs.
3,286,165/-, appeal is pending for Rs. 103,934/-;
b) Further, excise duty of Rs. 713,093/- has been paid during the year
2008-2009 against the demand raised by Central Excise Department
pertaining to earlier years. Appeal is pending with Central Excise
Commissioner;
c) During the year 2008-2009, The Director General of Central
Excise-Intelligence, New Delhi has served a show cause notice dated
01.10.2009 on the company raising a demand of Rs. 719,156,761/-
consequent upon a raid conducted by The DGCEI, New Delhi on 09.05.2008
in the premises of the company. Although, the company did not have any
activity whatsoever relating to Pan Masala business during the
financial year 2008-09, still the company was made to deposit a sum of
Rs. 30,000,000/- during the financial year 2008-09 with The DGCEI, New
Delhi.
However, at present, the said show cause notice is pending for
adjudication with The Commissioner, Central Excise, Kanpur, Uttar
Pradesh.
d) "During the year 2012-2013, the Income Tax Department has raised a
demand of Rs.19,628,086/- vide income tax assessment order dated
22.03.2013 in respect of assessment year 2005-06. The company has filed
an appeal before The Hon''ble Commissioner of Income Tax (Appeals),
which is still pending for disposal."
4. Deposit with Central Excise, Customs and Sales Tax Departments
includes balance lying with Central Excise department on account of
CENVAT claimed but not availed, with State Trade Tax Department and
Entry Tax Department for Rs. 4,321,399/-, Rs. 1,470,065/- and Rs.
10,600/- (2012-2013 Rs. 4,321,399/-, Rs. 1,470,065/- and Rs. 10,600/-)
respectively.
5. There were no Micro and Small enterprises to whom, amounts are
outstanding for more than 45 days as at March 31, 2014 (Previous Year
Rs. Nil). As at March 31, 2014, no supplier has intimated the company
about its status as Micro and Small enterprises or its registration
with the appropriate authority under The Micro, Small and Medium
Enterprises Development Act, 2006.
6. Earnings Per Share
Basic Earnings per Share is calculated by dividing the net profit for
the period attributable equity shareholders by the weighted average
number of equity shares outstanding during the period.
Net Profit after tax 178,896.12
Weighted average no of shares
outstanding (Equity shares of Rs 10 each) 5,000,200
Basis/Diluted Earnings Per Share 0.04
The Company does not have any outstanding dilutive potential equity
share. Consequently, the Basic and diluted earnings per share remains
same.
7. Related Party Disclosures
a) Following are Related Parties:
1. Key Management Personnel Mr. G.N. Choudhary
2. Associates R.G.M. Marketing Private Limited
Raghunath Builders Private Limited
3. Individual and their Mr. Om Prakash Agrawal
relatives having significant Mr. Jai Prakash Agrawal
influence over the company Mr. Sri Prakash Agrawal
Om Prakash Agrawal (HUF)
Jai Prakash Agrawal (HUF)
Sri Prakash Agrawal (HUF)
Mr. Yuvraj Dalmia
Mr. Pulkit Dalmia
Mr. Prakhar Dalmia
4. Enterprises over which Lotus Infra Projects Private Limited
persons mentioned in PJ. Softwares Private Limited
paragraph number (3) above Sir Bio Tech India Limited
exercise significant Eternity Townships Private Limited
influence Raghunath Holdings and Finlease
Private Limited
8. Notes nos.1 to 28 form an integral part of the Balance Sheet and
Profit and Loss Account and have been duly authenticated.
Mar 31, 2013
(a) NATURE OF OPERATION
Raghunath International Limited (The "Company") is mainly engaged in
Real Estate including renting activities and trading and agency
business.
1. Previous year''s fi gures have been regrouped, recast, rearranged
wherever necessary to conform to this year''s classifi cation. Figures
in bracket represent fi gures pertaining to fi nancial year 2011Â2012
unless stated otherwise. Amounts are mentioned in Rupees.
2. There are no earnings and expenditures in foreign currency.
3. Contingent liabilities not provided for in respect of:
(a) Excise duty of Rs. 103,934/Â was paid under protest during the year
2003Â2004 against demand raised by Central Excise Department. Excise
Department has appealed against the order of the Tribunal, which was in
favor of the company. Out of the total appealed amount of Rs.
3,286,165/Â, appeal is pending for Rs. 103,934/Â;
(b) Further, excise duty of Rs. 713,093/Â has been paid during the year
2008Â2009 against the demand raised by Central Excise Department
pertaining to earlier years. Appeal is pending with Central Excise
Commissioner;
(c) During the year 2008Â2009, The Director General of Central
ExciseÂIntelligence, New Delhi has served a show cause notice dated
01.10.2009 on the company raising a demand of Rs. 719,156,761/Â
consequent upon a raid conducted by The DGCEI, New Delhi on 09.05.2008
in the premises of the company. Although, the company did not have any
activity whatsoever relating to Pan Masala business during the fi
nancial year 2008Â09, still the company was made to deposit a sum of
Rs. 30,000,000/Â during the fi nancial year 2008Â09 with The DGCEI, New
Delhi. However, at present, the said show cause notice is pending for
adjudication with The Commissioner, Central Excise, Kanpur, Uttar
Pradesh.
(d) "During the year, The Income Tax Department has raised a demand of
Rs.19,628,086/Â vide income tax assessment order dated 22.03.2013 in
respect of assessment year 2005Â06. The company has fi led an appeal
before The Hon''ble Commissioner of Income Tax (Appeals), which is still
pending for disposal."
4. Deposit with Central Excise, Customs and Sales Tax Departments
includes balance lying with Central Excise department on account of
CENVAT claimed but not availed, with State Trade Tax Department and
Entry Tax Department for Rs. 4,321,399/Â, Rs. 1,470,065/Â and Rs.
10,600/Â (2011Â2012 Rs. 4,321,399/Â, Rs. 1,470,065/Â and Rs. 10,600/Â)
respectively.
5. There were no Micro and Small enterprises to whom, amounts are
outstanding for more than 45 days as at March 31, 2013 (Previous Year
Rs. Nil). As at March 31, 2013, no supplier has intimated the company
about its status as Micro and Small enterprises or its registration
with the appropriate authority under The Micro, Small and Medium
Enterprises Development Act, 2006.
6. Notes nos. 1 to 29 form an integral part of the Balance Sheet and
Profi t and Loss Account and have been duly authenticated.
Mar 31, 2012
1. Segment Reporting
Pan Masala and allied products, trading/agency and real estate are
considered three main business segments, whereas other remaining
activities are considered constituting un-allocable business segment in
the context of accounting Standard -17 on Segment Reporting, issued by
the Institute of Chartered Accountants of India.Segment Revenue,
Segment Results, Segment Assets and Segment Liabilities include the
respective amounts identifiable to each of the segment. The expenses,
which are not directly relatable to the business segment, are shown as
unallocated cost. Assets and Liabilities, which cannot be allocated
between the segments, are shown as unallocated assets and liabilities
respectively.
2. Previous year's figures have been regrouped, recast, rearranged
wherever necessary to conform to this year's classification. Figures in
bracket represent figures pertaining to financial year 2010-2011 unless
stated otherwise. Amounts are mentioned in Rupees.
3. There are no earnings and expenditures in foreign currency.
4. Contingent liabilities not provided for in respect of:
a) Excise duty of Rs. 103,934/- was paid under protest during the year
2003-2004 against demand raised by Central Excise Department. Excise
Department has appealed against the order of the Tribunal, which was in
favor of the company. Out of the total appealed amount of Rs.
3,286,165/-, appeal is pending for Rs. 103,934/-;
b) Further, excise duty of Rs. 713,093/- has been paid during the year
2008-2009 against the demand raised by Central Excise Department
pertaining to earlier years. Appeal is pending with Central Excise
Commissioner;
c) During the year 2008-09, The Director General of Central
Excise-Intelligence, New Delhi has served a show cause notice dated
01.10.2009 on the company raising a demand of Rs. 719,156,761/-
consequent upon a raid conducted by The DGCEI, New Delhi on 09.05.2008
in the premises of the company. Although, the company did not have any
activity whatsoever relating to Pan Masala business during the
financial year 2008-09, still the company was made to deposit a sum of
Rs. 30,000,000/- during the financial year 2008-09 with The DGCEI, New
Delhi.
However, at present, the said show cause notice is pending for
adjudication with The Commissioner, Central Excise, Kanpur, Uttar
Pradesh.
5. Deposit with Central Excise, Customs and Sales Tax Departments
includes balance lying with Central Excise department on account of
CENVAT claimed but not availed, with State Trade Tax Department and
Entry Tax Department for Rs. 4,321,399/-, Rs. 1,470,065/- and Rs.
10,600/- (2010-2011 Rs. 4,321,399/-, Rs. 1,470,065/- and Rs. 10,600/-)
respectively.
6. There were no Micro and Small enterprises to whom amounts are
outstanding for more than 45 days as at March 31, 2012 (Previous Year
Rs. Nil). As at March 31, 2012, no supplier has intimated the company
about its status as Micro and Small enterprises or its registration
with the appropriate authority under The Micro, Small and Medium
Enterprises Development Act, 2006.
7. Earning Per Share
Basic earning per share is calculated by dividing the net profit for
the period attributable to equity shareholders by the weighted average
number of equity shares outstanding during the period.
The Company does not have any outstanding dilutive potential equity
share. Consequently, the basic and diluted earning per share remains
the same.
8. Note No. 1 to 29 form an integral part of the Balance Sheet and the
Profit and Loss Account and have been duly authenticated.
Mar 31, 2010
I. NATURE OF OPERATION
Raghunath International Limited (The "Company") is mainly engaged in
Real Estate including renting activities and trading and agency
business.
1. Previous years figures have been regrouped, recast, rearranged
wherever necessary to conform to this years classification. Figures in
bracket represent figures pertaining to financial year 2008-2009 unless
stated otherwise. Amounts are mentioned in Rupees.
2. There are no earnings and expenditures in foreign currency.
3. The Profit and Loss Account includes payments and provision of
remuneration of whole time Directors as per Schedule-XIII of the
Companies Act, 1956.
For the year ended March 31, 2010, no commission has been paid; hence
computation of profit under section 349 of the Companies Act, 1956 is
not given.
4. The Company has given interest free loan of Rs. 100,000/-
(2008-2009 - Rs. 424,177.07/-) to One party (Two Parties) under verbal
agreement. Repayment period and terms have not been stipulated.
5. Advance against Land amounting to Rs. 2,315,000/- has been given to
various farmers ranging between Rs. 10,000/- to Rs. 20,000/- during
the year 1999-2000 as token money. In addition, the company has also
given an advance of Rs. 1,011,250/- (2008-2009- Rs. 2,421,250/-) for
purchase of land. The land Is yet to be purchased.
6. Out of gross block of fixed assets amounting to Rs. 18,291,744.07
(2008-09: Rs. 20,558,245.07), the company has disposed off the fixed
assets of Rs. 4,134,758.28 (2008-09: Rs. 7,063,069/-). The
(loss)/Proflt on sale of fixed assets are of (Rs. 274,403.84) (2008-09
Rs.711,138.23). In view of the management, it does not affect the
concept of going concern.
7. Contingent liabilities not provided for in respect of:
a) Excise duty of Rs. 103,934/- was paid under protest during the year
2003-2004 against demand raised by Central Excise Department. Excise
Department has appealed against the order of the Tribunal, which was in
favor of the company. Out of the total appealed amount of Rs.
3,286,165/-, appeal is pending for Rs. 103,934/-;
b) Further, excise duty of Rs. 713,093/- has been paid during the year
2008-2009 against the demand raised by Central Excise Department
pertaining to earlier years. Appeal is pending with Central Excise
Commis- sioner;
c) During the year 2008-09, The Director General of Central
Excise-Intelligence, New Delhi has served a show cause notice dated
01.10.2009 on the company. Raising a demand of Rs. 719,156,761/-
consequent upon a,raid conducted by Te DGCEI, New Delhi on 09.05.2008
in the premises of the company. Although, the company did not have any
activity whatsoever relation to Pan Masala business during the
financial year 2008-09, still the company was made to deposit a sum of
Rs. 30,000,000/- during the financial year 2008-09 with The DGCEI, New
Delhi.
However, at present, the said show cause notice is pending for
adjudication with The Commissioner, Central Excise, Kanpur, Uttar
Pradesh.
8. Deposit with Central Excise, Customs and Sales Tax Departments
includes balance lying with Central Excise department on account of
CENVAT claimed but not availed, with State Trade Tax Department and
Entry Tax De- partment for Rs. 4,321,399/-, Rs. 1,470,065/- and Rs.
10,600/- (2007-2008 Rs. 4,321,399/-, Rs. 1,470,065/- and Rs. 10,600/-)
respectively.
9. As per the information available with the Company, there are no
creditors operating in Small Scale Industry owing sum exceeding Rs.
100,000/-, which is outstanding for more than forty five days.
10. Information pursuant to the provisions of paragraphs 3,4C, 4D of
part II of Schedule VI of the Companies Act, 1956 in respect of
manufacturing activities are not applicable.
11. Pending actuarial valuation for gratuity as per AS-15 issued by The
ICAI, the company has provided liability for Gratuity amounting to Rs.
83,871/- (2008-2009 Rs, 17,307/-) during the year. However, the company
has not actually paid any sum by way of gratuity during the year.
12. Related Party Disclosures:
a) Following are related parties:
(a) Key Management Personnel
(b) Associates
Mr. G. N. Choudhary
RGM Marketing Private Limited (Formerly Known as Vastu
Real Estate and Consultancy Services Private Limited)
Raghunath Builders Private Limited
Lotus Infraprojects Private Limited
Sunflower Durabuild Private Limited
P J Software Limited
Sir Bio-Tech India Limited
(c) Individual and their relatives having significant influence over
the company
Mr. Om Prakash Agrawal Mr. Jai Prakash Agrawal Mr. Sri Prakash Agrawal
Mr. Yuvraj Dalmia Master Pulkit Dalmia Master Prakhar Dalmia
(d) Enterprises over which persons mentioned in paragraph number (c)
above exercise signifi- cant influence
Sri Prakash Agrawal (HUF)
Jai Prakash Agrawal (HUF)
Om Prakash Agrawal (HUF)
Lotus Infraprojects Private Limited
Sunflower Durabuild Private Limited
Good Luck Housing and Promoters Private Limited
P J Softwares Limited
Sir Bio Tech India Limited
13. The deferred tax Asset/ (Liability) for the current year is Rs.
(25,161.30), (Previous Year Rs. (5,192.10)).
14. Confirmation from Debtors, Creditors, and advances to and from
various parties were not received and their bal- ances are shown as
appearing in the accounts.
15. The maximum amount due from directors or other officers of the
company at any time during the year was Rs. 75,000/- (2008-2009 Rs.
45,000/-).
16. In the opinion of the management, the current assets, loans and
advances have a value on realization in the ordinary course of the
business at least equal to the amount at which they are stated in the
balance sheet.
17. Balance Sheet Abstract and Companys General Business Profile (In
terms of amendment of part IV of Schedule VI to the companies Act,
1956) is annexed herewith.
18. During the year, the company had sold all stocks of raw materials
related to manufacturing of pan masala for Rs. 1,856,539.50/-.
19. a) Trading/agency and real estate are considered two main business
segments, whereas other remaining ac- tivities are considered
constituting unallocable business segment in the context of Accounting
Standard -17 on Segment Reporting, issued by the Institute of Chartered
Accountants of India.
c) Segment Revenue, Segment Results, Segment Assets and Segment
Liabilities include the respective amounts identifiable to each of the
segment. The expenses, which are not directly relatable to the business
segment, are shown as unallocated cost. Assets and Liabilities, which
cannot be allocated between the segments, are shown as unallocated
assets and liabilities respectively.
20. The company has recognised revenue from contract Rs. 19,250,612/-
during the year as it has completed 100% of the total contract work.
21. Schedules A to Q form an integral part of the Balance Sheet
and the Profit and Loss Account and have been duly authenticated.