Mar 31, 2014
Note 1d. Rights, Preferences and Restrictions attached to the Shares:
The equity shares of the Company of nominal value Rs. 5 per share rank
pari-passu in all respects including voting rights and entitlement to
dividend.
Note 2. RELATED PARTY DISCLOSURE
As per the Accounting Standard on "Related Party Disclosures" (AS18)
notified by Companies (Accounting Standards) Rules, 2006, the related
parties of the Company are as follows:
List of Related Parties & Relationship: Directors of the Company
Mr. Ashok A Jain- Mr. Ashok Chhajed- Mrs. Renu Jain
Director''s Relatives
Shantilal Chhajed Vikas Chhajed
Notes :
1. Related Party Relationships are as identified by the Company on the
basis of Information available and relied upon by the Auditors
2. No amount has been written off during the year in respect of debts
due from related party
Note 3 : SEGMENT INFORMATION
The company is engaged in only one line of Activity. Hence disclosure
requirement under Accounting Standard 17 Segment Reporting is not
applicable to the Company
Note 4:
Figure for the previous year have been regrouped / rearranged wherever
considered necessary to conform to this year classification.
Mar 31, 2013
Note 1. RELATED PARTY DISCLOSURE
As per the Accounting Standard on "Related Party Disclosures" (AS18)
notified by Companies (Accounting Standards) Rules, 2006, the related
parties of the Company are as follows
Note 2: SEGMENT INFORMATION
The company is engaged in only one line of Activity. Hence disclosure
requirement under Accounting Standard 17 Segment Reporting is not
applicable to the Company
Note 3:
Figure for the previous year have been regrouped / rearranged wherever
considered necessary to conform to this year classification.
Mar 31, 2012
Note 1a. Rights, Preferences and Restrictions attached to the Shares:
The equity shares of the Company of nominal value 10 per share rank
pari passu in all respects including voting rights and entitlement to
dividend.
In compliance with provisions of Accounting Standard and based on
general Prudence, the Company has not recognized the deferred tax asset
nor written back excess deferred tax liability, while preparing the
accounts of the year under review.
Note 1 : SEGMENT INFORMATION
The company is engaged in only one line of Activity. Hence disclosure
requirement under Accounting Standard 17 Segment Reporting is not
applicable to the Company
Note 2:
The financial statements for the year ended March 31, 2011 had been
prepared as per the then applicable, pre-revised Schedule VI to the
Companies Act, 1956. Consequent to the notification of Revised Schedule
VI under the Companies Act, 1956, the financial statements for Year
ended March 31, 2012 are prepared as per Revised Schedule VI.
Accordingly, the previous to this year''s year figures have also been
reclassified to conform classification. The adoption of Revised
Schedule VI for the previous year principles followed for figures does
not Impact recognition and measurement preparation of financial
statements.
Mar 31, 2011
1. Balance of Sundry Debtors, Creditors, Loans and Advances are
subject to confirmation and reconciliation.
2. In the opinion of the Management, the current assets, loans &
Advances are approximately of the value stated if realized in the
ordinary course of business. The provision of all known liabilities is
adequate and not in excess of the amount reasonably necessary.
3. Provisions, Contingent Liability and Contingent Assets
Provisions are recognized, in terms of Accounting
Standard-29-Provisions, Contingent Liabilities and Contingent Assets
issued by Institute of Chartered Accountants of India, where there is a
p resent legal or statutory obligation as a result of past events,
where it is probable that there will be outflow of resources to settle
the obligation and when a reliable estimate of the amount of the
obligation can be made.
Contingent liabilities are recognized only when there is a possible
obligation arising from past events due to occurrence or
non-occurrence of one or more uncertain future events not wholly within
the control of the Company or where any p resent obligation cannot be
measured in terms of future outflow or resources or where a reliable
estimate of the obligation cannot be made. Obligations are assessed on
an on-going basis and only those having a largely probable outflow of
resources are provided for. Contingent assets are not recognized in the
financial statements.
Further there is a dispute of sales tax demand (not yet acknowledged)
amounting to Rs.43,006 for the year 1998-99, as the company has
deposited amount of Rs.43,050 under protest, in which the sales tax
department has p referred an appeal in the Rajasthan High Court at
Jodhpur and the same is still pending.
Further the Company has not quantified and provided statutory
liability under provisions of TDS under Income tax act for the payment
made or expense accounted during the year. As per management
decision the liability will be provided and p aid based on actual
assessment of said liability in subsequent financial year.
4. Segment Information
The Company is engaged in only one line of activity. Hence disclosure
requirement under Accounting Standard 17- Segment Reporting is not
applicable to the Company.
5. Earning Per Share
Basic earnings per share are calculated by dividing the net profit or
loss for the period attributable to equity shareholders by the weighted
average number of equity shares outstanding during the period. The
Company does not have equity embedded instruments during the year
hence dilutive earning per share will be same as per basic earning per
share.
6. The Company has no amounts due to any Micro / Small / Medium
enterprise as defined under Micro, Small & Medium Enterprises
Development Act, 2006, as at March 31, 2011.
7. The Company has written back the advance of Rs. 8.5 lacs received
from two parties for Property Ex business development. Due to non
fulfillment of their commitments the amount was forfeited during the
year and offered as Income and disclosed under extraordinary items.
8. Previous year figures has been regrouped and rearranged whenever
necessary.
Mar 31, 2010
1. Balance of Sundry Debtors, Creditors, Loans and Advances are
subject to confirmation and reconciliation.
2. In the opinion of the Management, the current assets, loans &
Advances are approximately of the value stated if realized in the
ordinary course of business. The provision of all known liabilities is
adequate and not in excess of the amount reasonably necessary.
3. a) The computation of net profit for the purpose of calculation of
directors remuneration u/s 349 of the Companies Act, 1956 is not
enumerated since no commission has been paid to any director.
4. Provisions, Contingent Liability and Contingent Assets
Provisions are recognized, in terms of Accounting
Standard-29-Provisions, Contingent Liabilities and Contingent Assets
issued by Institute of Chartered Accountants of India, where there is a
present legal or statutory obligation as a result of past events, where
it is probable that there will be outflow of resources to settle the
obligation and when a reliable estimate of the amount of the obligation
can be made. Contingent liabilities are recognized only when there is
a possible obligation arising from past events due to occurrence or
non-occurrence of one or more uncertain future events not wholly within
the control of the Company or where any present obligation cannot be
measured in terms of future outflow or resources or where a reliable
estimate of the obligation cannot be made. Obligations are assessed on
an on- going basis and only those having a largely probable outflow of
resources are provided for. Contingent assets are not recognized in the
financial statements. Further there is a disputed of sales tax demand
(not yet acknowledged) amounting to Rs.43,006 for the year 1998-99, as
the company has deposited amount of Rs.43,050 under protest, in which
the sales tax department has preferred an appeal in the Rajasthan High
Court at Jodhpur and the same is still pending.
Further the Company has not quantified and provided statutory liability
under provisions of TDS under Income tax act for the payment made or
expense accounted during the year. As per management decision the
liability will be provided and paid based on actual assessment of said
liability in subsequent financial year.
5. Related Party Transaction
The list of related party and nature of their relationship is furnished
below :
Related parties with whom transactions have taken place during the
year:
Directors of the company
Managing Director Mr. Ashok A. Jain
Director Mrs. Renu Jain
Director Mr. Ashok Chhajed
Subsidiaries Nil
6. Segment Information
The Company is engaged in only one line of activity. Hence disclosure
requirement under Accounting Standard 17- Segment Reporting is not
applicable to the Company.
7. Earning Per Share
Basic earnings per share are calculated by dividing the net profit or
loss for the period attributable to equity shareholders by the weighted
average number of equity shares outstanding during the period. The
Company does not have equity embedded instruments during the year hence
dilutive earning per share will be same as per basic earning per share.
8. The Company has no amounts due to any Micro / Small / Medium
enterprise as defined under Micro, Small & Medium Enterprises
Development Act, 2006, as at March 31,2010.
9. Previous year figures has been regrouped and rearranged whenever
necessary.