Mar 31, 2014
List of parties with whom transactions have taken place during the
year:
1) Entities under common control
a) Shiva Paper Mills Limited
b) Shiva Services Limited
c) R.N.Finance Limited
d) Shiva Kymen Sukka Limited
2) Key Managerial Personnel
a)Sh.Amit Jain
3) Relatives of Key Management Personnel
a) Sh.Parmod Jain
b) Sh.Parmod Jain HUF
c) Smt. Kiran Jain
d) Sh. Rajat Jain
1.1 Others
i) In the opinion of the management and read with the other notes, the
current assets, loans and advances are expected to realize at least the
amount/at which they are stated, if realized in the ordinary course of
business and provision for all known liabilities has been adequately
made in the accounts
ii) The Company has not complied with the provisions of section 383A of
the Companies Act 1956 relating to the appointment of a full time
Company Secretary keeping in view of its financial position and
non-availability to get a suitable person considering the financial
sickness of the Company
iii) No provision for Income Tax is necessary in view of the
accumulated losses. Also the accumulated deferred tax assets (net) have
not been recognized keeping in view the consideration of prudence in
accordance with the Accounting Standard 22 "Accounting for Taxes on
Income" issued by the Institute of Chartered Accountants of India.
Company will reassess the unrecognized deferred tax assets in
subsequent period having regard to the future developments
iv) Paise have been rounded off to nearest rupee.
v) Previous Year''s figures have been regrouped and / or rearranged.
Mar 31, 2013
I) In the opinion of the management and read with the other notes, the
current assets, loans and advances are expected to realize at least the
amount at which they are stated, if realized in the ordinary course of
business and provision for all known liabilities has been adequately
made in the accounts
ii) The Company has not complied with the provisions of section 383A of
the Companies Act 1956 relating to the appointment of a full time
Company Secretary keeping in view of its financial position and
non-availability to get a suitable person considering the financial
sickness of the Company
iii) No provision for Income Tax is necessary in view of the
accumulated losses. Also the accumulated deferred tax assets (net) have
not been recognized keeping in view the consideration of prudence in
accordance with the Accounting Standard 22 "Accounting for Taxes on
Income" issued by the Institute of Chartered Accountants of India.
Company will reassess the unrecognized deferred tax assets in
subsequent period having regard to the future developments
iv) Paise have been rounded off to nearest rupee.
v) Previous Year''s figures have been regrouped and / or rearranged.
Mar 31, 2011
1. Contingent liabilities not provided for in respect of
Current Year Previous Year
Cess Due on Rubber including interest Rs. 395,453/- Rs.395,453/-
2. During the year ending 31st March 2006, the co. has sold its entire
plant & Machinery and Building for a Lump sump consideration of Rs.
1.55 crore. Out of total consideration of Rs 1.55 crore, Rs. 15,00,000
is still recoverable by the co. from M/s. T.S. Enterprises, Chennai
as on 31.03.2011
3. The company has not provided for interest payable of Rs. 709,800/-
(Previous year Rs.709,800) on unsecured loans on account of poor
financial position of the company. The accumulated non-provision of the
interest is Rs.7213439/-(Previous Year Rs.6503639/-)
4. In the opinion of the management and read with the other notes, the
current assets, loans and advances are expected to realize at least the
amount at which they are stated, if realised in the ordinary course of
business and provision for all known liabilities has been adequately
made in the accounts.
5. The company has not complied with the provision of section 383A of
the companies Act 1956 relating to the appointment of a full time
company secretary keeping in view of its financial position and
non-availability to get a suitable person considering the financial
sickness of the company.
6. No provision of Income Tax is necessary in view of the accumulated
losses. Also the accumulated deferred tax assets (net) have not been
recognized keeping in view the consideration of prudence in accordance
with the Accounting Standard 22 " Accounting for Taxes on Income"
issued by the institute of Chartered Accountants of India. Company will
reassess the unrecognized deferred tax assets in subsequent period
having regard to the future developments.
7. Figures have been rounded off to the nearest rupee.
8. Previous years figures have been regrouped/re-classified wherever
necessary.
Mar 31, 2010
1. Contingent liabilities not
provided for in respect of
cuss due on Rubber including interest Current Yes Previous Yea
Rs,395,453 Rs,395,453
2. During the year ending 31st March 2008, the co, has sold its entire
Plant & Machinery and building for a lump sump consideration of Rs.1.55
Croree. Out of total consideration of RS.1.55 CRORE RS. 15.00.000 is
still recoverable by the co from M/s T.S Enterprises Chennai as on
31.03.2010
3. The company has not provided for interest payable of Rs.709,800/-
previous year Rs.709,800) on secured loans on account of poor financial
position of thee company thee accumulated non-provisions of the interest
is Rs 6.503.639 (Previous Year Rs,5.793.839)
4. In the opinion of the management and read with he other notes, the
current assets bans and advances are expected to realize at least the
amount at which they are stayed, if realised in the ordinary course of
business and provisions for all known liabilities has been adequately
made in the accounts.
5. The company has not compiled with the provisions of sections 383 A of
the companies Act, 1956 relating to the appointment of a full time
company secretary keeping in view of its financial position and non
availability to get a suitable person considering the financial
sickness of the company.
6. As per the information with the company the names of the suppliers
covered under the Micro, small & Medium Enterprises development Act,
2006 are as under:
7. No provisos for income Tax is necessary in view of the accumulated
losses the accumulated deferred tax assets have not been keeping in
view the consideration in accordance with the accounting standard 22
Accounting for taxes or income issued of Chartered Accounts of India.
Company will reassess the unrecognized deferred tax assists in
subsequent having regard to the future developments.
8. Related party disclosures as required as per AS-17 issued by the
institute of Chartered Accounts of India.
9. Figures have been rounded off to the nearest rupee.
10. Previous years figures have been regrouped class field wherever
necessary.
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