Mar 31, 2015
1. Balance in Sundry Debtors and Sundry Creditors are subject to
confirmation or reconciliation.
2. During the year Company has done speculative trading in commodity
(Mustard Seed & Oil) at MCX/NCDEX stock exchanges. There is a net loss
of Rs.70,627.13 ( Previous Year Net Loss of Rs. 1,93,237.00 )on such
trading.
3. As per Accounting Standard (AS)-15 "Employees Benefits" the
disclosure of employee benefits as defined in Accounting Standard are
given below.
Defined Contribution Plan
Defined Benefit Plan
The employees' gratuity fund scheme is a defined benefit plan. The
present value of obligation is determined based on actuarial valuation
using the projected unit credit method, which recognizes each period of
service as giving rise to additional unit of employees benefit
entitlement and measures each unit separately to build up the final
obligation.
4. Contingent Liability not provided for: Rs. Nil (Previous Year Rs.
Nil)
5. In the opinion of the management the current assets, loans and
advances have a value on realization at least equal to the amount at
which they are stated in the Balance Sheet and the provision for all
known liabilities has been made.
i. Provision for Income Tax has been made considering various benefits
and allowances available to the company under the provisions of Income
Tax Act, 1961.
6. In accordance with guiding principles as enunciated in Accounting
Standards AS-17 Segment Reporting, the company has only one segment of
oil business. Therefore, the disclosure requirements of the Standard
are not applicable.
7. Related party disclosures as required by Accounting Standards
AS-18
a. Key Management personnel and their relatives: Mr. D.P. Sarda ( NIL
Transaction)
Mr. S. Sarda
Mr. C. S.Sarda ( NIL Transaction)
Mr. M. S. Somani ( NIL Transaction)
Remuneration to Directors- Mr. S. Sarda is Rs. 8,74,800 /-(Previous
Year Rs. 8,74,800/-)
Payable at year end ( M r. S. Sarda) is Rs. Nil (Previous Year
Rs.2,76,861.22).
b. Enterprises in which key management personal and their relatives
are able to exercise significant influence:
Sarda Agro Products Private Limited ( NIL Transaction)
Sarda OilIndustries (P) Limited ( NIL Transaction)
Aura Infracons (P) Ltd. ( NIL Transaction)
Shri Ram Surendra Kumar ( NIL Transaction)
8. The Shares of the Aura Infracons (P) Ltd. Has been sold at price
less than the purchase price. 114500 shares that was purchased at Rs.60/-
per share has been sold at Rs.35 per share incurred a loss of Rs.
28,62,500.00. Total sales consideration is Rs.4007500/-
9. Company has sold its major part of assets during the year due to
which company books is showing profit in statement of profit and loss,
otherwise company is in loss.
10. Company has not fulfilled all the listing requirements of BSE.
11. Company has sold Substantial part of Fixed Assets during the
financial year 2014-15 under which land has been sold at
Rs.100,00,000/- generating profits of Rs.8838355/-, Building has been
sold at Rs.40,00,000/- generating profit of Rs.23,93,189.99 and Plant &
Machinery has been sold at Rs.6,00,000/- in which company has incurred
a loss of Rs.5,06,107.32/-.
12. Previous year figures have been regrouped / rearranged wherever
considered necessary to make them comparable with current year's
figures.
Mar 31, 2014
1. Contingent Liability not provided for: Rs. Nil (Previous Year Rs.
Nil)
2. In the opinion of the management the current assets, loans and
advances have a value on realization at least equal to the amount at
which they are stated in the Balance Sheet and the provision for all
known liabilities has been made.
i. Provision for Income Tax has been made considering various benefits
and allowances available to the company under the provisions of Income
Tax Act, 1961.
3. Balance in Sundry Debtors and Sundry Creditors are subject to
confirmation or reconciliation.
4. During the year Company has done speculative trading in commodity
(Mustard Seed & Oil) at MCX/NCDEX stock exchanges. There is a net loss
of Rs.193,237 (Previous Year Net Loss of Rs. 19,90,825) on such
trading.
5. As per Accounting Standard (AS)-15 "Employees Benefits" the
disclosure of employee benefits as defined in Accounting Standard are
given below.
Defined Benefit Plan
The employees'' gratuity fund scheme is a defined benefit plan. The
present value of obligation is determined based on actuarial valuation
using the projected unit credit method, which recognizes each period of
service as giving rise to additional unit of employees benefit
entitlement and measures each unit separately to build up the final
obligation.
6. In accordance with guiding principles as enunciated in Accounting
Standards AS-17 Segment Reporting, the company has only one segment of
oil business. Therefore, the disclosure requirements of the Standard
are not applicable.
7. Related party disclosures as required by Accounting Standards
AS-18
a. Key Management personnel and their relatives:
Mr. D.P. Sarda
Mr. S. Sarda
Mr. C.S. Sarda
Mr. M. S. Somani
Remuneration to Directors- Mr. D.P. Sarda is Rs. Nil (Previous Year Rs.
6,16,000/-) Mr. S. Sarda is Rs. 8,74,800 /-(Previous Year Rs.
8,42,400/-)
Payable at year end ( Mr. S. Sarda) is Rs. 2,76,861.22/- (Previous Year
Rs.1,378.53).
b. Enterprises in which key management personal and their relatives
are able to exercise significant influence:
Sarda Agro Products Private Limited Sarda Oil Industries (P) Limited
Aura Infracons (P) Ltd. Shri Ram Surendra Kumar Investment in above
enterprises
i) Investment in Equity Shares Rs. 68,70,000.00 (Previous Year Rs.
68,70,000).
8. The book value of Aura Infracons (P) Ltd. is below the
purchase/subscription price of investment made by the company.
Considering the long term strategic nature of investment diminution in
value has been considered temporary and hence no provision has been
made.
9. Previous year figures have been regrouped / rearranged wherever
considered necessary to make them comparable with current year''s
figures.
Mar 31, 2013
1. Contingent Liability not provided for: Rs. Nil (Previous Year Rs.
Nil)
2. In the opinion of the management the current assets, loans and
advances have a value on realization at least equal to the amount at
which they are stated in the Balance Sheet and the provision for all
known liabilities has been made.
i. Provision for Income Tax has been made considering various benefits
and allowances available to the company under the provisions of Income
Tax Act, 1961.
3. Balance in Sundry Debtors and Sundry Creditors are subject to
confirmation or reconciliation.
4. During the year Company has done speculative trading in commodity
(Mustard Seed & Oil) at MCX/NCDEX stock exchanges. There is a net loss
of Rs. 19,90,825 (Previous Year Net Profit of Rs. 26,65,071) on such
trading. There is a single open contract standing as on 31st March 2013
(450 tons of Mustard Seed) which was squared off on 101" April''2013.
5. As per Accounting Standard (AS)-15 "Employees Benefits" the
disclosure of employee benefits as defined in Accounting Standard are
given below.
Defined Contribution Plan
6. In accordance with guiding principles as enunciated in Accounting
Standards AS-17 Segment Reporting, the company as only one segment of
oil business. Therefore, the disclosure requirements of the Standard
are not applicable.
7. Related party disclosures as required by Accounting Standards
AS-18 a. Key Management personnel and their relatives:
Mr. D.P. Sarda Mr. S. Sarda Mr. C.S. Sarda Mr. M.S. Somani
Remuneration to Directors- Mr. DP. Sarda is Rs. 6,16,000/- (Previous
Year Rs. 6,60,000/-) Mr. S. Sarda is Rs. 8,42,400/- (Previous Year Rs.
6,90,000/-)
Payable at year end (Mr. S. Sarda) is Rs. 1,378.53/- (Previous Year Rs.
Nil).
b. Enterprises in which key management personal and their relatives
are able to exercise significant influence:
Sarda Agra Products Private Limited Sarda Oil Industries (P) Limited
Sarda Industrial Corporation Aura Infracons (P) Ltd. Shri Ram Surendra
Kumar
Investment in above enterprises i) Investment in Equity Shares Rs.
68,70,000.00 (Previous Year Rs. 68,70,000).
8. The book value of Aura Infracons (P) Ltd. is below the purchase /
subscription price of investment made by the company. Considering the
long term strategic nature of investment diminution in value has been
considered temporary and hence no provision has been made.
9. Privious year figures have been regrouped / rearranged wherever
considered necessary to make them comparable with current year''s
figures.
Mar 31, 2012
(i) Terms / Right attached to Equity Shares
The Company has only one class of Equity Shares having a face value of
Rs.10 Per share. Each Ordinary Shareholder is entitled to one vote per
share. No dividend is proposed by the Board of Directors in the Annual
General Meeting.
In the event of winding-up of the company, the equity shareholders
shall be entitled to be repaid remaining assets of the company, in the
ratio of the amount of capital paid up on sudh equity shares.
1. Contingent Liability not provided for Rs. NS (Previous Year Rs.
Nil)
2. In the opinion of the management the current assets, loans and
advances have a value on realization at least equal to the amount at
which they are stated in the Balance Sheet and the provision for all
known liabilities has been made.
i. Provision for Income Tax has been made considering various benefits
and allowances available to the company under the provisions of Income
Tax Act, 1961.
3. Balance in Sundry Debtors and Sundry Creditors are subject to
confirmation or reconciliation.
4. During the year Company has done speculative trading in commodity
(Mustard Seed & Oil) at MCX/NCDEX stock exchanges. There is a net
profit of Rs. 26,65,071 on such trading. There is no outstanding
contract as on 31* March 2012.
Defined Benefit Plan
The employees' gratuity fund scheme is a defined benefit plan. The
present value of obligation is determined based on actuarial valuation
using the projected unit credit method, which recognizes each period of
service as giving rise to additional unit of employees benefit
entitlement and measures each unit separately to build up the final
obligation.
5. In accordance with guiding principles as enunciated in Accounting
Standards AS-17 Segment Reporting, the company has only one segment of
oil business. Therefore, the disclosure requirements of the Standard
are not applicable.
6. Related party disclosures as required by Accounting Standards
AS-18
a. Key Management personnel and their relatives:
Mr. D.P. Sarda
Mr. S. Sarda Mr. C.S. Sarda Mr. M. S. Somani
Remuneration to Directors-
Mr. D.P. Sarda is Rs. 6,60,000/- (Previous Year Rs. 6,35,000/-)
Mr. S. Sarda is Rs. 6,90,000/- (Previous Year Rs. 6,00,000/-)
Payable at year end is Rs. Nil (Previous Year Rs. 1,66,882/-).
b. Enterprises in which key management personal and their relatives
are able to exercise significant influence:
Sarda Agro Products Private Limited
Sarda Oil Industries (P) Limited
Sarda Industrial Corporation
Aura Infracons (P) Ltd.
Shri Ram Surendra Kumar
Investment in above enterprises
i) Investment in Equity Shares Rs. 68,70,000.00 (Previous Year Rs.
68,70,000).
ii) Share Application Money pending allotment is NIL (Previous year Rs.
42,00,000).
7. The book value of Aura Infracons (P) Ltd. is below the purchase /
subscription price of investment made by the company. Considering the
long term strategic nature of investment diminution in value has been
considered temporary and hence no provision has been made.
8. PRESENTATION AND DISCLOSURE OF FINANCIAL STATEMENTS
During the year ended March 31, 2012, the revised Schedule VI notified
under the Companies Act 1956, has become applicable to the company, for
preparation and presentation of its financial statements. The adoption
of revised Schedule VI does not impact recognition and measurement
principles followed for preparation of financial statements. However,
it has significant impact on presentation and disclosures made in the
financial statements. The Company has also reclassified the figures in
accordance with the requirements applicable in the current year.
Mar 31, 2010
1. Contingent Liability not provide for: Nil (Previous Year-Nil)
2. In the opinion of the management the current asset, loans and
advances have a value on realization at least equal to the amount at
which they are stated in the balance sheet and the provisions for all
known liabilities has been made
3. a. Provision for income tax has been made considering various
benefits and allowances available to the company under the provisions
of Income Tax Act, 1961.
4. Balance in Sundry Debtors and Sundry Creditors are subject to
confirmation and / or recoreilation
5. During the year company has done speculative trading in commodity
(Mustard Seed & Oil) at MCX / NCDEX exchanges. There is a net loss of
Rs. 460828.00 on such trading. There is no outstanding balance against
this trading in both the exchanges.
6. As per Accounting Standards (AS)-15 "Employees Benefit", (revised)
the disclosure of employees benefits as defined in Accounting Standard
are given below
Note : Actuarial valuation for the year ended 31st March 2007 and prior
to date was not done.
7. In accordance with guiding principles as enunciated Accounting
Standards AS-17 segment reporting issued by Institute of Chartered
Accountants of India, the company has only one segment of Oil Business.
Therefore, the disclosure requirements of the Standard are not
applicable.
8 Related party disclosures as required by Accounting Standards AS-18
A. Key management personal and their relatives
Mr. DP. Sarda
Mr. S. Sarda
Mr. C. S. Sarda
Mr. M.S. Somani
Remuneration Rs.945000.00 (Previous Year Rs. 775000.00)
Payable at year end Rs. NIL (Previeous year Rs. 70642.57)
B. Enterprises in which key management personal and their relatives
are able to exercise significant influences:
Sarda Agro Products (P) Ltd.
Sarda Oil Industries (P) Ltd.
Sarda Industrial Corporation
Aura Infracons (P) Ltd.
Shree Ram Surendra Kumar
Investment in above enterprises
i) Investment in Equity share Rs. 6870000.00 (Previous year Rs.
6870000.00)
ii) Share application money (pending allotment) Rs. 4200000.00
(Previous year Rs. 4200000.00)
9. The book value of Aura Infracons (P) Ltd. is below the
purchase/subscription price of investment made by the company.
Considering long tern strategic nature of investment dinnunition in
value has been considered temporary and hence no provision has been
made.
Mar 31, 2009
1. Contingent Liability not provide for: Nil (Previous Year-Nil)
2. In the opinion of the management the current asset, loans and
advances have a value on realization at least equal to the amount at
which they are stated in the balance sheet and the provisions for all
known liabilities sas been made
3. a. Provision for income tax has been made considering various
benefits and allowances available to the company under. the provisions
of Income Tax Act, 1961.
4. Balance in Sundry Debtors and Sundry Creditors are subject to
confirmation and / or recoreilation
5. In accordance with guiding principles as enunciated Accounting
Standards AS-17 segment reporting issued by Institute of Chartered
Accountants of India, the company has only one segment of Food. Hence
no reporting is required.
6. Related party disclosures as required by Accounting Standards AS-18
A. Key management personal and their relatives
Mr. D.P. Sarda
Mr. C. S. Sarda
Mr. S. Sarda
Mr. M.S. Somani
Remuneration Rs.775000.00 (Previous Year Rs. 545000.00)
Payable at year end Rs. 70642.57 (Previeous year Rs. 3646.82)
B. Enterprises in which key management personal and their relatives
are able to exercise significant influences:
Sarda Agro Products (P) Ltd.
Sarda Oil Industries (P) Ltd.
Sarda Industrial Corporation
Aura Infracons (P) Ltd.
Investment in above enterprises
i) Investment in Equity share Rs. 6870000.00 (Previous year Rs.
6870000.00)
ii) Share application money (pending allotment) Rs. 4200000.00
(Previous year Rs. 4200000.00)
7. The book value of Aura Infracons (P) Ltd. is below the
purchase/subscription price of investment made by the company.
Considering long tern strategic nature of investment dinnunition in
value has been considered temporary and hence no provision has been
made.
Mar 31, 2004
1. Contingent liabilities not
provided for in respect of As at 31.03.04 As at 31.03.03
estimated amount of contract and
remaining to be executed
on capital account and not provided
for (Net of Advance) Nil Rs.10500000/-
2. In the opinion of the management the current assets, loans and
advances have a value on realisation at least equal to the amount at
which they are stated in the Balance Sheet and provision for all known
liabilities has been made.
3. a. No provision for current income tax has been made in the absence
of taxable income.
4. Balance in Sundry Debtors and Sundry Creditors are subject to
confirmation.
5. Sundry creditors include Rs. 336882.42 (previous year Rs.
545743.97) payable to Small Scale Industrial undertakings. However
small scale undertaking to whom the company owes a sum remaining
outstanding for more than 30 days are none.
6. In accordance with guiding principals as enunciated in Accounting
Standard AS-17 segment reporting issued by institute of Chartered
Accountants on India the company has only one segment of food. Hence no
reporting is required.
7. Related party disclosures as required by Accounting Standard AS-18
A Key management personal and their relatives
Mr. D.P. Sarda
Mr.C.S.Sarda
Key management personal and their relatives
Remuneration Rs. 10,22,975/=
B. Enterprises in which key management personal and their relatives
are able to exercise significant influences
Sarda Agro Products (P) Ltd.
Sarda Oil Industries (P) Limited
Sarda Industrial Corporation
8. Previous year figures have been regrouped wherever considered
necessary.
Mar 31, 2003
1. Contingent liabilities not provided for in respect of
As at 31.03.03 As at 31.03.02
a. Estimated amount of
contract and remaining
to be executed on capital
account and not provided
for (Net of Advance) Rs. 10500000/- Rs. 10500000/-
b. Sales Tax Demand under
dispute Rs. Nil Rs. 427211/-
2. In the opinion of the management and to the best of their knowledge
and belief, the value on realisation of Loans and Advances and other
current assets in the ordinary course of business will not be less than
the amount at which they are stated in the Balance Sheet.
3. Balances in Sundry Debtors and Sundry Creditors are subject to
confirmation.
4. Sundry creditors include Rs. 545.743.97 (Previous year Rs.
540499.58) payable to Small Scale Industrial undertakings. However
Small Scale Undertakings to whom the company owes a sum remaining
outstanding for more than 30 days are Krishna Kolhu Udyog, Century
Steel Industries, Rajdhani Udyog.
5. In accordance with guiding principals as enunciated in Accounting
Standard AS-17 segment reporting issued by Institute of Chartered
Accountants of India the company has only one segment of food. Hence
reporting the information as required by the accounting standard are
not applicable.
6. Related party disclosures as required by Accounting Standard AS-18
A Key management personal and their relatives
Mr. D.P. Sarda
Mr. C. S. Sarda
B. Enterprises in which Key Management Personal and their relatives
are able to exercise significant influences :
Sarda Oil Industries Private Limited
Sarda Agro Products Private Limited
Sarda Industrial Corporation
There are no transactions and no outstanding with / from the parties
listed above.
7. Previous year figures have been regrouped wherever considered
necessary.
Mar 31, 2002
1. Contingent liabilities not
provided for in
respect of As at 31.03.2002 As at 31.03.2001
a. Estimated amount of contract
and remaining to be executed
on capital account and not
provided for (Net of Advance) Rs.10500000/- Rs.10500000/-
b. Sales Tax Demand under dispute Rs. 427211/- Rs. 427211/-
2. In the opinion of the management and to the best of their knowledge
and belief, the value on realisation of Loans and Advances and other
current assets in the ordinary course of business will not be less than
the amount at which they are stated in the Balance Sheet.
3. a. No provision for current income tax has been made in the absence
of taxable income.
4. Balances in Sundry Debtors and Sundry Creditors are subject to
confirmation.
5. Sundry creditors include Rs. 201546.16 (Previous year Rs.
119865.43) payable to Small Scale Industrial undertakings. However
Small Scale Undertakings to whom the company owes a sum remaining
outstand ing for more than 30 days are Haryana Tin Manufacturers,
Jagdish Chandra Garg & Enterprises (P) Ltd., Metallic Signs Company,
Krishna Kolhu Udyog, P Roy Expeller Works.
6. Related party disclosures as required by Accounting Standard AS-18
A. Key management personal and their relatives
Mr. D.P. Sarda
Mr. C.S. Sarda
Key management Personal and their relatives Remuneration Rs.8,03,600/=
B. Enterprises in which Key Management Personal and their relatives
are able to exercise significant influences :
Sarda Oil Industries Private Limited
Sarda Agro Products Private Limited
Sarda Industrial Corporation
There are no transactions and no outstanding with / from the parties
listed above.
7. Previous year figures have been regrouped wherever considered
necessary.