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Notes to Accounts of Rap Media Ltd.

Mar 31, 2015

NOTE 1:

Advance received includes an amount of Rs.11,66,00,000/- from a customer against agreement to sale of commercial space in mall under construction at Agra. The revenue will be accounted as per the prescribed accounting standard 9, upon the certainty of completion of building and handover of the space to the customers.

NOTE 2:

The Company has kept all its projects currently on hold due to adverse market conditions in real estate market, hence the amount spent has been shown under land and capital work in progress. The amount required to complete the projects is not estimated.

NOTE 3: Balances of Debtors, Creditors, Loans & Advances (Debit/Credit) are subject to confirmation.

NOTE 4: Segment Reporting

The Company is operating in single business segment i.e. Development of Multiplex Theatres and Malls and also in single geographical segment i.e. in India. Hence, reporting in accordance with the Accounting Standard (AS) 17 of is not applicable.

Related Parties disclosures:

a) List of related parties where control exists and related parties with whom transactions have taken place and relationships:

S.No. Name of the Related Party Relationship

1. Shri Rupinder Singh Arora Key Managerial Personnel

2. Shri Chandir G. Gidwani Key Managerial Personnel

3. Ms.Ritika Arora Key Managerial Personnel

4. Shri. Navdeep Singh Khera (w.e.f - 11-12-14) Key Managerial Personnel

5. Shri Hrushikesh Deodhar (till - 14-11-14) Key Managerial Personnel

6. Shri Dilawar Singh Arora Relative of Key Managerial Personnel

7. Ms.Priyanka Arora Relative of Key Managerial Personnel

Note: Figures in bracket represents previous year's amount.

Disclosure in respect of Related Party Transactions during the Year :

1. Loans and Advances Unsecured Loan Received Rs.88,25,300/- and repaid to Shri Rupinder Singh Arora Rs.77,45,300/- Balance loan as on 31.03.2015 is Rs. 10,80,000/- (Previous Year Rs. NIL)

2. Remuneration paid to Shri Rupinder Singh Arora Rs.6,00,000/-.(Previous Year Rs.6,06,000/-)

3. Director Sitting fees paid to Shri Chandir G. Gidwani, Shri Navdeep Singh Khera, Shri H V Deodhar & Ms.Ritika Arora amounting to Rs.30,000/- (Previous Year Rs.31,250/-)

4. Rent paid to Shri Dilawar Singh Arora amounting to Rs.7,80,000 (Previous Year Paid Rs.7,80,000/-)

5. Salary Paid to Ms.Priyanka Arora amounting to Rs.3,90,000/- (Previous Year Rs.2,34,000/-)

NOTE 5:

The company has not received any intimation from vendors covered under the micro, Small & medium enterprises Development Act, 2006 and as such information in respect of those vendors is not provided.

NOTE 6:

Previous year's figures have been regrouped/rearranged wherever necessary.


Mar 31, 2014

NOTE 1: Balances of Debtors, Creditors, Loans & Advances (Debit/Credit) are subject to confirmation. NOTE 22: Segment Reporting

The Company is operating in single business segment i.e. Development of Multiplex Theatres and Malls and also in single geographical segment i.e. in India. Hence, reporting in accordance with the Accounting Standard (AS) 17 of is not applicable.

NOTE 2:

Advance received includes an amount of Rs.11,66,00,000/- from a customer against agreement to sale of commercial space in mall under construction at Agra. The revenue will be accounted on the certainty of completion of building and handover of the space to the customers.

NOTE 3:

The Company has kept all its projects currently on hold due to adverse market conditions hence the amount spent have been shown under land and capital work in progress. The amount required to complete the projects is not estimated.

Disclosure in respect of Related Party Transactions during the Year :

1. a) Unsecured Loan Received Rs.42,50,426/- and repaid to Shri Rupinder Singh Arora Rs.42,50,426/-.

Balance loan as on 31.03.2014 is Rs. NIL (Previous Year Rs. NIL)

b) Unsecured Loan received Rs. 47,95,000/- and repaid to Ms.Priyanka Arora Rs. 47,95,000/-. Balance loan as on 31.03.2014 is Rs. NIL (Previous Year Rs. NIL)

2. Remuneration paid to Shri Rupinder Singh Arora Rs.6,06,000/-.(Previous Year Rs.6,20,000/-)

3. Director Sitting fees paid to Shri Chandir G Gidwani, Shri Navin Marwah, Shri H V Deodhar & Ms.Ritika Arora amounting to Rs.31,750/- (Previous Year Rs.75,000/-)

4. Rent paid to Shri Dilawar Singh Arora amounting to Rs.7,80,000 (Previous Year Paid to Ms. Daljeet Kaur Arora Rs.7,80,000/-)

5. Interest received from M/s.Centrum Direct Limited amounting to Rs.48,991/- (Previous Year Rs.53,507/-)

6. Salary Paid to Ms.Priyanka Arora amounting to Rs.2,34,000/- (Previous Year Rs.2,34,000/-)

NOTE 4:

Amount due to small scale industrial undertaking is Rs.NIL (Previous year Rs.NIL).

NOTE 5:

The company has not received any intimation from vendors covered under the micro, Small & medium enterprises Development Act, 2006 and as such information in respect of those vendors is not provided.

NOTE 6:

Previous year''s figures have been regrouped/rearranged wherever necessary.


Mar 31, 2013

NOTE 1: Balances of Debtors, Creditors, Loans & Advances (Debit/Credit) are subject to confirmation.

NOTE 2: Segment Reporting

The Company is operating in single business segment i.e. Development of Multiplex Theatres and Malls and also in single geographical segment i.e. in India. Hence, reporting in accordance with the Accounting Standard (AS) 17 of is not applicable.

NOTE 3:

Advance received includes an amount of Rs.11,66,00,000/- from a customer against agreement to sale of commercial space in mall under construction at Agra. The revenue will be accounted on the certainty of completion of building and handover of the space to the customers.

NOTE 4:

The Company has kept all its projects currently on hold due to adverse market conditions hence the amount spent have been shown under land and capital work in progress. The amount required to complete the projects is not estimated.

Disclosure In respect of Related Party Transactions during the Year:

1. a) Opening Balance of loans and advances Rs.6,54,099/- (Previous Years Rs.6,54,099/-) Given during the year advance for purchase of property to Ms. Deepi Arora Rs.4,18,75,000/-. The transaction was later cancelled and Money refunded.

b) Unsecured Loan Received Rs. 1,53,36,896/- and repaid to Shri Rupinder Singh Arora Rs.3,06,36,896/- . Balance loan as on 31.03.2013 is Rs. NIL (Previous Year Rs. 1,53,00,000/-)

2. Remuneration paid to Shri Rupinder Singh Arora Rs.6,00,000/-.(Previous Year Rs.6,00,000/-)

3. Director Sitting fees paid to Shri Chandir G Gidwani, Shri Navin Marwah & Ms.Ritika Arora amounting to Rs.75,000/- (Previous Year Rs. 1,20,000/-)

4. Rent paid to Smt.Daljeet Kaur Arora amounting to Rs.7,80,000 (Previous Year Rs.7,80,000)

5. Interest received from M/s.Centrum Direct Limited amounting to Rs.53,507/- (Previous Year Rs.53,789/-)

6. Salary Paid to Ms.Priyanka Arora amounting to Rs..2,34,000/- (Previous Year Rs.2,34,000/-)

NOTE 5:

Amount due to small scale industrial undertaking is Rs.NIL (Previous year Rs.NIL).

NOTE 6:

The company has not received any intimation from vendors covered under the micro, Small & medium enterprises Development Act, 2006 and as such information in respect of those vendors is not provided.

NOTE 7:

Previous year''s figures have been regrouped/rearranged wherever necessary.


Mar 31, 2012

NOTE 1; Balances of Debtors, Creditors, Loans & Advances (Debit/Credit) are subject to confirmation.

NOTE 2: Segment Reporting

The Company is operating in single business segment i.e. Development of Multiplex Theatres and Malls and also in single geographical segment i.e. in India. Hence, reporting in accordance with the Accounting Standard (AS) 17 of is not applicable.

NOTE 3:

Advance received includes an amount of Rs. 11,66,00,000/- from a customer against agreement to sale of commercial space in mall under construction at Agra. The revenue will be accounted on the certainty of completion of building and handover of the space to the customers.

NOTE 4:

The Company has kept all its projects currently on hold due to adverse market conditions hence the amount spent have been shown under land and capital Work in progress. The amount required to complete the projects is not estimated.

NOTE 5:

The company has let out space for Food Court to Reliance Media Work Limited on Profit Sharing Basis. During the year the operations resulted into a loss of Rs. 17,454/- (Previous year Rs. 2,74,000/-).

NOTE 6:

Related Parties disclosures:

a) List of related parties where control exists and related parties with whom transactions have taken place and relationships:

Sl. Name of the Related Party Relationship No.

1. Shri Rupinder Singh Arora Key Managerial Personnel

2. Shri Chandir G Gidwani Key Managerial Personnel

3. Shri Navin Marwah Key Managerial Personnel

4. Ms. Ritika Arora Key Managerial Personnel

5. M/s. Centrum Direct Ltd. Associate Company

6. M/s. Rap Projects Pvt. Ltd. Associate Company

7. Shri Dilawar Singh Arora Relative of Key Managerial Personnel

8. Smt. Daljeet Kaur Arora Relative of Key Managerial Personnel

9. Ms. Priyanka Arora Relative of Key Managerial Personnel

Disclosure in respect of Related Party Transactions during the Year:

1. a) Opening Balance of loans Rs. 6,54,099/- (Previous Years Rs. 2,33,25,000/-) Given during the year to Rap Projects Pvt. Ltd. Rs. 1,55,79,780/-

b) Unsecured Loan Received Rs. 1,59,70,000/- and repaid to Shri Rupinder Singh Arora Rs. 6,70,000/-. Balance loan as on 31.03.2012 is Rs. 1,53,00,000/-. (Previous Year Rs. NIL)

2. Remuneration paid to Shri Rupinder Singh Arora Rs. 6,00,000/- (Previous Year Rs. 6,00,000/-)

3. Director Sitting fees paid to Shri Chandir G Gidwani, Shri Navin Marwah & Ms. Ritika Arora amounting to Rs. 1,20,000/- (Previous Year Rs. 1,45,000/-)

4. Rent paid to Smt. Daljeet Kaur Arora amounting to Rs. 7,80,000 (Previous Year Rs. 7,80,000)

5. Interest received from M/s. Centrum Direct Limited amounting to Rs. 48,385/- (Previous Year Rs. 8,65,723/-)

6. Salary Paid to Ms. Priyanka Arora amounting to Rs. 2,34,000/- (Previous Year Rs. 2,34,000/-)

NOTE 7:

Amount due to small scale industrial undertaking is Rs. NIL (Previous year Rs. NIL).

NOTE 8:

The company has not received any intimation from vendors covered under the micro, Small & medium enterprises Development Act, 2006 and as such information in respect of those vendors is not provided.

NOTE 9:

Previous year's figures have been regrouped/rearranged wherever necessary.


Mar 31, 2010

1. Balances of Debtors, Creditors, Loans & Advances (Debit/Credit) are subject to confirmation.

2. Segment Accounting

(i) Primary Segment

The Company is operating in single segment i.e. Development of Multiplex Theatres and Malls. Hence, reporting as defined in accordance with the Accounting Standard (AS) 17 of ICAI is not applicable.

3. Related Parties disclosure in accordance with Accounting Standard 18 issued by Institute of Chartered Accountants of India:

(a) Related parties and nature of relationship:

Directors ot the Company 1. Rupinder Singh Arora 2. Chandir G. Gidwani

Associate Companies, Firms, Relative of Director 1. Centrum Direct Ltd.

2. Business Match Service (I) Pvt. Ltd.

3. Daljeet Kaur Arora

4. Rap Projects Pvt. Ltd.

(b) Transactions that have taken place during the period current financial year with related parties by the Company:

S. Name of the Party Transactions during the year

No.

1. Rupinder Singh Arora Salary Paid Rs. 6,00,000/- for the Year 2009-2010 Maximum amount received at one time Rs.96,00,000/- Interest Free Loans time to time to meet the needs of the Company, Balance as on 31.03.2010 NIL

2. Daljeet Kaur Arora Office Rent paid - Rs. 7,80,000/-

3. Rap Projects Pvt Ltd. Advance paid Rs. 2,81,880/- Balance as on

31.03.2010 Rs. 2,03,073/-

4. Business Match Rs. 2,60,00,000/- Security Deposit given for office Services (I) Pvt. Ltd. premises

5. Centrum Direct Ltd. Rs. 3,41,89,157/- ICD given @ 8.25% p.m. Interest received duing the year Rs. 22,86,279/- (P.Y. Rs.45,24,300/-) Balance as on 31.03.2010 is Rs. 2,33,25,000/-

(c) Details of Remuneration to Directors is disclosed in note No. 4.

4. Under the Micro, Small and Medium Enterprises Development Act, 2006, which is in force from 2nd October, 2006, certain disclosures are required to be made relating to Micro, Small and Medium Enterprises. The Company is in the process of compiling relevant information from its vendors about their coverage under the said act.

5. Estimated amount of contracts remaining to be executed on capital account Rs.5.10 Crores (Previous year Rs.7.00 Crores).

6. Direct operational expenses Rs.25.33 lacs (PY Rs.Nil) comprise of loss incurred by the Company in terms of the profit sharing agreement entered into for running of food court area.

7. Previous years figures have been regrouped/rearranged wherever necessary.

 
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