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Notes to Accounts of Rich Universe Network Ltd.

Mar 31, 2015

1. No Prior period items are present.

2. The current assets, loans and advances are approximately of the value stated, if realized in the ordinary course of business. The provisions for ail known liabilities are adequate and not in excess of the amount considered reasonably necessary. These amount are subject to confirmation.

3. Gross deprecation for the year Rs. 91,577.00 (Prev. Yr. Rs. 132,909.04).

4. No Commission on Sales has been paid or is payable as at date.

5. During the year under consideration do borrowing cost has capitalized by the company in accordance with the Accounting Standard

6. 'Borrowing Cost' issued by the Institute of Chartered Accountants of India.

7. The figure of the previous year have been regrouped/ rearranged wherever necessary in order to make them comparable with the figures of the current year.

8. Figures have been rounded off to the two decimals places.


Mar 31, 2013

A) The company has not entered into any lease agreement after 31.03.1999 therefor* provision of ''Accounting Standard -19 on lease'' are not applicable,

b) To the extern information available, there were no outstanding dues towards small scale or ancillary undertaking as on 31.03.2013.

c) Reportable segment in respect of business operations of the Company has been identified on the basis of nature of activities attached to the segment. There are no secondary reportable segments considering the business operation of the company. Therefore, no disclosure for secondary segment has been made-

d} The advances received or given are without any stipulation of board of directors regarding their nature and the period for which they have been given or received but as certified by the Board of Directors, Current Assets, Loans and Advances have a value on realization in the ordinary course of business at least equal to the amount at which they are stated in Balance Sheet and outstanding balances in the accounts of parties are subject to confirmation.

e) However, in compliance with Prudential norms of income recognition, provisioning for Bad and Doubtful Debts etc. issued by Reserve Bank of India vide guidelines dated 13.06.1994, the company has, not accrued income in respect of Loans and Advances which are non performing assets as defined therein in terms of set guidelines.

f} The particulars as required In terms of Paragraph 9BB of NBFC Prudential Norms (Reserve Bank) directions 1993 given in Schedule l-(i) ar^ not applicable.

Payment of Gratuity Act, 1972 and Provident Fund Act 1952 are not presently applicable to the Company. The Company do not have a policy of entailment of unavaileri leaves,

g) Earnings in Foreign Currency : Ml (Previous Year: Rs. NIL)

h) Expenses in Foreign Currency: NIL (Previous Year: Rs. NIL)

i) The company has identified that there is no impairment of assets and as such no provision is required for the same in terms of accounting standard Z8 issued by Institute of Chartered Accountants of India.

j) Previous year figures have been regrouped/rearranged wherever considered necessary.


Mar 31, 2010

1. There was no contingent liability as certified by directors.

2. As certifed by the Board of Directors, Current Assets, Loans and Advances hava a value on realization in the ordinary course of business at least equal to the amount at which they are stated in Balance Sheet.

3. Outstanding balance in the accounts of parties are subject to confirmation.

4. Other additional information pursuant of paragraph 3,4C and 4D of part II of Schedule VI if the Companies Act, 1956 is not given, as it is not applicable to the company.

5. Figures of previos year have been regrouped/rearrange if thought fit upon wherever found necessary

6. Incompliance with Prudential norms of income recognition, provisioning for Bad and Doubtful Debts etc. issued by Reserve Bank of India vide guidelines dated 13.06.1994, the Company has, not accrued income in respect of Loans and Advances which are non performing assets as defined therein in ternms of set guidelines.

7. Schedule 1 to 6 form intergral part of accounts and have been duly authenticated.

 
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