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Notes to Accounts of S & T Corporation Ltd.

Mar 31, 2015

1. Company has taken unsecured loans from directors/shareholders time to time for the expenses incurred by the company & in our opinion this loans are not prejudicial to the interest of the company.

2. During the company has paid directors remuneration of Rs.8, 00,000/- to the directors of the company (P.Y. R 8, 00,000/-).

3. The current assets, loans & advances are fully recoverable at the values stated if realized in the ordinary course of business.

4. Preliminary expenditure is being written/off over a period of five years.

5. As-15(Revised): accounting for the retirement benefits stipulates provision for retirement benefits on accrual basis. However, the company has been accounting for such payments of gratuity & leave encashment as and when it is actually paid.


Mar 31, 2014

1. The Share of Profit from the firms in which the company is partner is not accounted for as the books of accounts of the firms are not finalized & the effects on the financial statements have not been determined.

2. Related Party Transaction:

3. According to information & explanations given to us there is no amount for which the company is contingently liable.

4. Preliminary expenditure is being written/off over a period of five years.


Mar 31, 2013

1. The current assets, loans & advances are fully recoverable at the values stated if realized in the ordinary course of business.

2. Company has taken unsecured loans from directors/shareholders time to time for the expenses incurred by the company & in our opinion this loans are not prejudicial to the interest of the company.

3. Current Assets & Current Liabilities are subject to confirmations.

4. During the year the company has paid directors remuneration of Rs.9,80,000/- to the directors of the company (RY. Rs.2,00,000/-)

5. The Share of Profit from the firms in which the company is partner is not accounted for as the books of accounts of the firms are not finalized & the effects on the financial statements have not been determined.

6. Related Party Transaction:

7. According to information & explanations given to us there is no amount for which the company is contingently liable.

8. Preliminary expenditure is being written/off over a period of five years.


Mar 31, 2012

NOTE:

PERSUANT TO SCHEME OF AMALGAMATION OF SHUBH MANAGEMENT CONSULTANTS PRIVATE LTD. APPROVED BY HIGH COURT BOMBAY VIDE ITS ORDER DATED 30/03/2012, THE VALUE OF THE NET ASSETS OF THE TRANSFEROR COMPANY OVERTHE PAID UP VALUE OF EQUITY SHARES TO BE ISSUED IS CREDITED TO AMALGAMATION RESERVE.

NOTE : 1 - SHARE APPLICATION MONEY PENDING ALLOTMENT

PESUANT TO SCHEME OF AMALGAMATION OF SHUBH MANAGEMENT CONSUULTANTS PVT. LTD. WITH THE COMPANY, HAS TO ALLOT 42,00,870 EQUITY SHARES OF RS. 10/- EACH TO THE SHARE HOLDERS OF SHUBH MANAGEMENT CONSUULTANTS PVT. LTD.

THE COMPANY NEEDS TO INCREASE THE AUTHORISED CAPITAL TO COVER THE ALLOTMENT OF THESE SHARES, PENDING ALLOTMENT APPLICATION MONEY PENDING ALLOTMENT.

Pursuant to the Scheme, the Company has to allot 4,20,0870 equity shares of 10/-each to the share holders of Shubh Management Consultants Pvt. Ltd.

Increase in Authorised Capital for the allotment of this shares is pending

Details of assets and liabilities acquired on amalgamation and treatment of the difference between the net assets acquired by the Company together with the shares to be issued to the shareholders is as under

Share application money pending allotment

As at 31 March 2012, the Company has outstanding amount of RS.4,20,08,700 towards share application money towards 42,00,870 equity shares of the Company The share application money is outstanding in pursuant to scheme of amalgamation of Shubh Management Consultants Pvt. Ltd. With the company approved by the High Court Bombay ,the Company is required to complete the allotment formalities.

The Company has to increase the authorised capital to cover the allotment of these shares. Pending allotment of shares, the amount is credited to share application money pending allotment.

2. There is no amount for which the company is contingently liable.

3. Preliminary expenditure is being written/off over a period of five years.

4. The Revised Schedule VI has become effective from 1 April, 2011 for the preparation of financial statements. This has significantly impacted the disclosure and presentation made in the financial statements. Previous year's figures have been regrouped / reclassified wherever necessary to correspond with the current year's classification / disclosure & are not strictly comparable as previous years figures are pre-merger & current year figures are post merger.


Mar 31, 2010

1) The current assets, loans & advances are fully recoverable at the values stated if realized in the ordinary course of business.

2) Company has taken unsecured loans from directors / shareholders time to time for the expenses incurred by the company & in our opinion this loans are not prejudicial to the interest of the company.

3) Current Assets & Current Liabilities are subject to confirmations.

4) There is no amount for which the company is contingently liable.

5) Previous years figures are regrouped & recanted wherever necessary.

 
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