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Notes to Accounts of Shree Global Tradefin Ltd.

Mar 31, 2016

Notes: 1) Aggregate Market Value of Non Current Quoted Investments is Rs.1,57,77,67,068/-(Previous Year Rs.1,32,64,85,560/- )

2) Aggregate Value of Non Current Unquoted Investments is Rs.3,00,71,950/- (Previous Year Rs.6,13,71,550/-)

3) Aggregate Value of Current Unquoted Investments is Rs. Nil (Previous Year Rs.9,22,50,000/-)

4) Dues to Small-Scale Industrial Undertakings :

As of March 31s1 2016, the Company has no outstanding dues to small-scale industrial undertakings.

5) In the opinion of the Board, Loans & Advances, Trade Receivables and Current Assets have a realizable value in the ordinary course of business not less than the amount at which they are stated in the Financial Statement.

6) The Company has not capitalized any borrowing costs during the year.

7) As per Accounting Standard 15 “Employee benefits”, the disclosures as defined in the Accounting Standard are given below :

a) Defined contribution plans

Contribution to Defined Contribution Plans, recognized as expense for the year is as under:

b) Defined Benefit Plan (Unfunded)

i) General Description of Plan: Defined Gratuity Benefit obligation (Unfunded)

ii) Method of Valuation of Gratuity : Projected Unit Credit Method.

iii) Reconciliation of opening and closing balance of defined benefit obligation

8) Segment Reporting:

The Company is engaged in the business of Trading and there are no separate reportable segments as per Accounting Standard (AS-17) “Segment Reporting”. The Company’s operations are within India.

9) Related Party Disclosures :

per Accounting Standard 18, the disclosures of transactions with the related parties are given below :

10) During the Financial Year, the Company has substantial Unabsorbed Depreciation & Carried forwarded losses. However, there is no reasonable certainty that these assets can be realized. Hence the Deferred Tax Assets have not been created. The policy is being followed by the Company from past years.

1) In the opinion of the management during financial year no diminution in value of Quoted investment is recognized in the financial statement as the fall in the value of the investment is of temporary nature.

12) Lease rentals recognized during the year is Rs.2.57 lakhs (Previous Year Rs.2.12 lakhs).

13) The Company has deposited Rs.109 lacs during the year with the Custodian based on Order of the Bombay High Court dated 06/02/2015. Though, the said Order pronounced on 06/02/2015, the same was delivered to the Company subsequent to adoption of accounts of 2015. This has been relied upon by the Auditors.

14) Previous year’s figures have been re-grouped and rearranged wherever necessary.


Mar 31, 2015

1) Dues to Small-Scale Industrial Undertakings :

As of March 31st 2015, the Company has no outstanding dues to small-scale industrial undertakings.

2) In the opinion of the Board, Loans & Advances, Trade Receivables and Current Assets have a realizable value in the ordinary course of business not less than the amount at which they are stated in the Financial Statement.

3) The Company has not capitalized any borrowing costs during the year.

4) As per Accounting Standard 15 "Employee benefits", the disclosures as defined in the Accounting Standard are given below :

a) Defined contribution plans

Contribution to Defined Contribution Plans, recognised as expense for the year is as under: (Rs. in Lacs)

b) Defined Benefit Plan (Unfunded)

i) General Description of Plan : Defined Gratuity Beneft obligation (Unfunded)

ii) Method of Valuation of Gratuity : Projected Unit Credit Method.

iii) Reconciliation of opening and closing balance of defined benefit obligation

v) Actuarial Assumptions:

Rate of Interest : 7.75% per annum

Salary Growth : 5.00% per annum

Withdrawal Rate : 1%

Mortality Rate : Indian Assured Lives (2006-08) ultimate

Mortality Rates.

Retirement Age : 60 years

5) Segment Reporting:

The Company is engaged in the business of Trading and there are no separate reportable segments as per Accounting Standard (AS-17) "Segment Reporting". The Company's operations are within India.

6) Related Party Disclosures :

As per Accounting Standard 18, the disclosures of transactions with the related parties are given below :

7) During the Financial Year, the Company has substantial Unabsorbed Depreciation & Carried forwarded losses. However, there is no reasonable certainty that these assets can be realized. Hence the Deferred Tax Assets have not been created. The policy is being followed by the Company from past years.

8) In the opinion of the management during financial year no diminution in value of Quoted investment is recognized in the financial statement as the fall in the value of the investment is of temporary nature.

9) Previous year's figures have been re-grouped and rearranged wherever necessary.


Mar 31, 2014

1) Contingent Liabilities: During the current year – Nil Previous year – Nil

2) Dues to Small-Scale Industrial Undertakings :

As of March 31st 2014, the Company has no outstanding dues to small-scale industrial undertakings.

3) In the opinion of the Board, long-term Loans & Advances, Trade Receivables and Current Assets have a realizable value in the ordinary course of business not less than the amount at which they are stated in the Balance Sheet.

4) The Company has not capitalized any borrowing costs during the year.

5) Segment Reporting:

The Company is engaged in the business of Trading and there are no separate reportable segments as per Accounting Stand- ard (AS-17) "Segment Reporting". The Company''s operations are within India.

6) During the Financial Year, the Company has substantial Un- absorbed Depreciation & Carried forwarded losses. However, there is no reasonable certainty that these assets can be real- ized. Hence the Deferred Tax Assets have not been created. The policy is being followed by the Company from past years.

7) Previous year''s figures have been re-grouped and rearranged wherever necessary.


Mar 31, 2013

1. Contingent Liabilities :

During the current year - Nil

Previous year - Nil

2 Dues to Small - Scale Industrial Undertakings :

As of March 31st 2013, the Company has no outstanding dues to small-scale industrial undertakings.

3 During the Financial Year 01-04-2012 to 31-03-2013 the Company is entitled to create Deferred Tax Asset in the books of accounts. However, in view of the unabsorbed depreciation and carried forward losses there is no reasonable certainty that these assets can be realized. Hence the Deferred Tax Assets are not created. The policy is being followed by the company from past years.

4. Segment Reporting:

The Company is operating on only one broad segment and hence no separate Segmental Report has been given.

5. Previous year''s figures have been re-grouped and rearranged wherever necessary.


Mar 31, 2012

(1) a) Pursuant to Scheme of Arrangement u/s 391 - 394 of the Companies Act, 1956 between Shree Global Tradefin Ltd. (the Company/ SGTL) and Ragini Trading & Investments Ltd. (RTIL), Parishram Properties Pvt. Ltd. (PPPL) and Pragya Realty Developers Pvt. Ltd.(PRDPL) and their respective shareholders and Creditors (herein after referred as 'the scheme'), which was sanctioned by the Hon'ble High Court, Bombay vide it's order passed on 9th March,2012, certain specified Assets and Liabilities of the Company as well as RTIL and PPPL were transferred to and vested in the PRDPL and other specified Assets and Liabilities of RTIL and PPPL were transferred to the Company w.e.f. Appointed Date i.e. 1st April,2011.

b) Pursuant to the Scheme, the net excess of liabilities over assets transferred from the Company and vested with PRDPL with effect from appointed date i.e. 1st April, 2011 is Rs. 27,351.45 Lacs. The consideration for transfer of excess of liabilities over assets to PRDPL was to be paid by issuing 30,91,093 equity shares of Rs. 5/- each of Shree Global Tradefin Ltd. at a premium of Rs. 238/- per share aggregating to Rs. 7,511.36 Lacs, which is pending allotment. The difference of Rs. 19,840.09 Lacs between net excess of liabilities over assets transferred and equity shares issued has been treated as Capital Reserve in the books of the Company as per the terms of the Scheme.

c) Pursuant to the Scheme, the net excess of assets over liabilities transferred from Ragini Trading & Investments Ltd. and vested with the Company with effect from appointed date i.e. 1st April, 2011 is Rs. 11,674.73 Lacs. The same has been treated as goodwill in the books of the Company as per the terms of the scheme.

d) Pursuant to the Scheme, the net excess of assets over liabilities transferred from Parishram Properties Pvt, Ltd and vested with the Company with effect from appointed date i.e. 1st April, 2011 is Rs. 523.10 Lacs. The same has been treated as goodwill in the books of the Company as per the terms of the scheme.

e) As per the terms of the Scheme, after giving effect of transfer of assets and liabilities the goodwill is to be adjusted against the capital reserve. Accordingly goodwill of 7 12,197.83 Lacs has been adjusted against capital reserve. Net Capital Reserve of Rs. 7,642.26 Lacs is reflected under Reserves & Surplus.

2. The Company has no information as to whether any of its suppliers constitute micro, small & medium enterprises as per Micro, Small & Medium Enterprises Development Act, 2006 and therefore the amount due to such supplier has not been identified.

3. During the Financial Year 01-04-2011 to 31-03-2012 the Company is entitled to create Deferred Tax Asset in the books of accounts. However, in view of the unabsorbed depreciation and carried forward losses there is no reasonable certainty that these assets can be realized. Hence the Deferred Tax Assets are not created.

4. Disclosure as required by the Accounting standard -17 "segment Reporting":

The Company is operating on only one broad segment and hence no separate Segmental results have been given.

5. Figures of current year are not comparable with that of previous year due to transfer of Assets and Liabilities w.e.f. 01.04.2011 pursuant to scheme of arrangement approved by Hon'ble High Court Bombay vide order dated 09.03.2012

6. Previous year's figures have been re-grouped and rearranged wherever necessary.


Mar 31, 2010

1. The Company has no information as to whether any of its suppliers constitute micro, small & medium enterprises as per Micro, Small & Medium Enterprises Development Act, 2006 and therefore the amount due to such supplier has not been identified.

2. During the Financial Year 01-04-2009 to 31-03-2010 the Company is entitled to create Deferred Tax Asset in the books of accounts. However, in view of the unabsorbed depreciation and carried forward losses there is no reasonable certainty that these assets can be realized. Hence the Deferred Tax Assets are not created.

3. Disclosure as required by the Accounting standard - 17 "segment Reporting" are given below.

The Company is operating on only one broad segment and hence no separate Segmental results have been given.

4. The Company has paid Rs. 11236/- ( Previous Year Rs. 11236/-) towards audit fees to the Auditors of the Company.

5. Previous years figures have been re-grouped and rearranged wherever necessary.


Mar 31, 2003

1. Contingent Liabilities

31/03/2003 31/03/2002 (Rs.) (Rs.)

In respect of partly paid up shares 7,71,30,000.00 7,71,30,000.00

2. Investment of the Company are valued asunder :

I. Quoted ( Other than Government and Trustee Securities): At Cost

II. Unquoted : At Cost

3. According to Accounting Standard 22 Effects of Taxes on Income issued by Institute of Chartered Accountants of India - there is no deferred tax liability in respect of past years as on 01.04.2002. During the Financial year 01.04.2002 to 31.03.2003 the Company is entitled to create Deferred Tax Asset in the books of account. However, in view of the unabsorbed depreciation and carried forward losses there is no reasonable certainity that these assets can be realised. Hence the Deferred Tax Assets are not created.

4. The Company has not made provisions for the short fall for the value of quoted investments as in the opinion of the Board the fall in the Market value is due to adverse market conditions and is temporary in nature.

5. Debtors, Creditors, Loans and advances, advances from customers are subject to confirmation by the parties. However, the Company has sent letter to such parties, difference, if any, shall be reconciled during the current year.

6. Additional information pursuant to the provision of Paragraph 3 & 4 Cof the Part II of Sch. VI of the Companies Act, 1956.

Current Year Previous Year

Opening Stock Nil Nil

Purcahses Nil Nil

Sales Nil Nil

Closing Stock Nil Nil

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