Mar 31, 2014
1 RELATED PARTY TRANSACTIONS:
Name of the Related Party Nature of Relationship
Madiwala Charitable Trust The Director(s) of the Company
are the Trustee(s) of the Trust
Chhabildas Memorial Foundation The Director(s) of the Company are
the Trustee(s) of the Trust
Varun Engineering Works
(Partnership Firm) The Director''s relatives are the
Partners in the firm
Nandanvan Roadways
(Partnership Firm) The Director''s relatives are the
Partners in the firm
Mr. Narendra Goel Director and CEO t
Mrs. Savita Goel Customer Relationship Manage,
relative of a Director
2 SEGMENTAL REPORTING:
Based on the guiding Principles given in Accounting Standards on
Segment Reporting specified under the Companies (Accounting Standards)
Rules, 2006, the Company is having only one segment as primary segment
based on its nature of service rendered.
3 CONTINGENT LIABILITIES & COMMITMENTS
As at 31.03.2014 As at31.03.2013
Claims against the Company /
Disputed Liabilities not
acknowledged as debts - 1,32,76,112
Income Tax Demand Notice received ;
The Company''s Income Tax Assessment for the A.Y. 2008-09 is completed
and a demand raised by the Assessing Officer amounting to Rs.
1,37,76,112. The Company has preferred an appeal against the Order and
the same is pending before the CIT (Appeals). The CIT (Appeals) has
substantially allowed the appeal of the Company vide Order dated
28.03.2014
Guarantees outstanding Nil Nil
Estimated amount of contracts remaining
to be executed on capital Nil Nil
account and not provided for
Other Commitments Nil Nil
4 The previous year figures have been regrouped or reclassified
wherevemecessary to confirm to the current year presentation
Mar 31, 2013
1. The previous year figures have been regrouped or reclassified
wherever neccessary to confirm to the current year presentation.
Mar 31, 2012
During the year a sum of Rs. 1,95,520/- is written off as bad debts
which is outstanding for more than six months as the same were not
recoverable and the Company has no transactions with these parties.
No debts due by directors or other officers of the Company or any of
them either severally or jointly with any other person or debts due by
firms or private companies respectively in which any director is a
partner or a director or a member (Previous Year Rs. Nil ).
Interest income represents interest received from deposits with banks
and security deposits with customers.
Dividend Received Rs. 17,200 ( Previous Year Rs. 100) is from Long Term
Investments
Net gain on investment Rs. 3,46,874 (Previous Year Rs. Nil) is from
Long Term Investments
'Contribution for Provident Fund is deposited with the Provident Fund
Authorities.
Defined Benefit Plan: The Company's Gratuity plan is not funded. The
liability is provided on the basis of independent actuarial valuation
basis using projected unit cost method, which recognises each period of
service as giving raise to additional unit of employee benefit
entitlement and measures each unit separately to build up the financial
obligation. The liability towards leave encashment is also provided in
the same manner as gratuity
1 SEGMENTAL REPORTING:
Based on the guiding Principles given in Accounting Standards on
Segment Reporting specified under the Companies (Accounting Standards)
Rules, 2006, the Company is having only one segment as primary segment
based on its nature of service rendered.
As at As at
2 CONTINGENT LIABILITIES & COMMITMENTS: 31.03.2012 31.03.2011
Claims against the Company / Disputed
Liabilities not acknowledged as debts
Income Tax Demand Notice received 13,776,112 13,776,112
The Company's Income Tax Assessment for
the A.Y. 2008-09 is completed and a demand
raised by the Assessing Officer amounting
to Rs. 1,37,76,112. The Company has
preferred an appeal against the Order and
the same is pending before the CIT (Appeals)
Guarantees outstanding Nil Nil
Estimated amount of contracts remaining
to be executed on Nil Nil
capital account and not provided for Nil Nil
Other Commitments
3 The previous year figures have been regrouped or reclassified
wherever necessary to confirm to the current year presentation
Mar 31, 2011
1. Claims against the Company not acknowledged as debt: Rs. -Nil- (
Previous Year: Rs. -Nil-)
2. Uncalled liability on shares partly paid Rs. Nil ( Previous Year
Rs. Nil)
3. Contingent Liabilities not provided for : Rs. -Nil- ( Previous
Year: Rs. -Nil-)
4. Estimated amount of contracts remaining to be executed on Capital
Accounts not provided for : Rs. -Nil- ( Previous Year : Rs. -Nil- )
5. Value of Imports calculated on CIF basis Rs. Nil ( Previous Year
Rs. Nil)
6. Earnings in Foreign Currency: Rs. Nil ( Previous Year: Rs. -Nil-)
7. Expenditure in Foreign Currency: Rs. -Nil- ( Previous Year: Rs.
-Nil-)
9. None of the Creditors of the Company have confirmed that they are
covered under the provisions of Micro, Small and Medium Enterprises
Development Act, 2006.
10. Employee Benefits: The Company's gratuity plan and Leave Encashment
plan is not funded and the liability is provided for in the books of
account on the basis of independent actuarial valuation.
11. Earnings Per Share : The basic and Diluted earnings per share for
the year is Rs. (-)0.96 ( Previous Year Rs. 0.23 )
12. Additional Information required: Paragraphs 3, 4C and 4D of Part
II of Schedule - VI to the Companies Act, 1956, is applicable to the
extent it relates to Gross income derived from services rendered and
major expenditure etc. These information have been given at
appropriate places in the profit and loss account. Other requirements
of these paragraphs are not applicable, as the Company is rendering
services and is not engaged in any manufacturing or trading activity of
any kind.
13. Previous year figures have been regrouped or rearranged wherever
necessary.
Mar 31, 2010
1. Claims against the Company not acknowledged as debt: Rs. -Nil- (
Previous Year: Rs. -Nil-)
2. Contingent Liabilities not provided for : Rs. -Nil- ( Previous
Year: Rs. -Nil-).
3. Estimated amount of contracts remaining to be executed on Capital
Accounts not provided for : Rs. -Nil- ( Previous Year : Rs. -Nil- ).
4. Earnings in Foreign Currency: Rs. Nil ( Previous Year: Rs. -Nil-).
5. Expenditure in Foreign Currency: Rs.-Nil- ( Previous Year: Rs.
-Nil-).
6. Remuneration to Directors: Current Year Previous Year Remuneration
paid to Mr. Narendra Goel Rs. 1,52,133/- 1,01,412/- (Director and CEO)
Companys contribution to Provident Fund Rs. 7,020/- 4,680/-.
7. None of the Creditors of the Company have confirmed that they are
covered under the provisions of Micro, Small and Medium Enterprises
Development Act, 2006.
8. Employee Benefits: The Companys gratuity plan and Leave
Encashment plan is not funded and the liability is provided for in the
books or account on the basis of independent actuarial valuation.
9. Earnings Per Share : The basic and Diluted earnings per share for
the year is Rs. 0.23 ( Previous Year Rs. (-) 0.52 ).
10. During the period, the Company has made a provision of Rs.
13,100/- (Previous Year Rs. 14,400/-) for current tax which is worked
out on the profit as computed under tjie provisions of Income Tax Act.
Provision for deferred tax asset amounting to Rs 3,12,397/- (Previous
Year deferred tax liability of Rs. 13,784/-) has been made during the
year. The major component of deferred tax assets and deferred tax
liabilities arising out of timing differences are as under:
11. Additional Information required: Paragraphs 3, 4C and 4D of Part
II of Schedule -VI to the Companies Act, 1956, is applicable to the
extent it relates to Gross Income derived from services rendered and
major expenditure etc. These information have been given at
appropriate places in the profit and loss account. Other requirements
of these paragraphs are not applicable, as the Company is rendering
services and is not engaged in any manufacturing or trading activity of
any kind.
12. Previous year figures have been regrouped or rearranged wherever
necessary.
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