Mar 31, 2015
NOTE 1. Related Party Disclosures:
Names of related parties and description of relationship:
1. Key Management Personnel and their relatives: Chandrakant H Shah -
Key Management Personnel
Gaurav Shah - Relative of Key Management Personnel
2. Enterprises over which Key Management Personnel/Relative of Key
Managerial Personnel has significant influence:
Shukra Land Developers Limited
Shukra Jewellery Limited
Shree Jewellery Manufacturing Company Limited
Gaurav Jewellery LLC
2. Contingent LiabilityAsset:
A demand of Rs,32,84,840/- has been raised by the Income Tax
Authorities for the Assessment Year 2009-10, which the company has not
acknowledged as debt. The company has deposited a sum ofRs, 8,00,000
against this demand. This matter of dispute is pending before the
Income Tax Appellate Tribunal (ITAT Appeals). The management believes
that ultimate outcome of this proceeding will not have a material
adverse effect on the Company's financial position and results of
operation. Based on the decisions of the Appellate Authorities and the
other relevant provisions, the Company has been legally advised that
the demand is likely to be either deleted or substantially reduced and
accordingly no provision has been made.
3. Impairment Loss: The management has not assessed the impairment
loss on the assets of the company.
Mar 31, 2014
1. Share Capital
The company has only one class of shares referred to as equity shares
having a par value of Rs. 10/- each. Each holder of equity shares is
entitled to one vote per share.
Board of Directors of the company has not proposed any dividend for the
current reporting period.
The reconciliation of the number of shares outstanding and the amount
of share capital as at March 31, 2014
1.1 Related Party Disclosures:
Names of related parties and description of relationship:
1. Key Management Personnel and their Relatives:
Chandrakant H Shah - Key Management Personnel
Gaurav Chandrakant Shah - Relative of Key Management Personnel
2. Enterprises over which Key Management Personnel has significant
influence:
Shukra Land Developers Limited
1.2 Contingent Liability/Asset:
A demand of Rs. 32,84,840/- has been raised by the Income Tax
Authorities for the Assessment Year 2009-10, which the company has not
acknowledged as debt. The company has deposited a sum of Rs. 8,00,000
against this demand. This matter of dispute is pending before the
Income Tax Appellate Tribunal (ITAT Appeals). The management believes
that ultimate outcome of this proceeding will not have a material
adverse effect on the Company''s financial position and results of
operation. Based on the decisions of the Appellate Authorities and the
other relevant provisions, the Company has been legally advised that
the demand is likely to be either deleted or substantially reduced and
accordingly no provision has been made.
1.3 Impairment Loss:
Management has not assessed any impairment loss on the assets of the
company.
Mar 31, 2013
Company overview
Shukra Bullions Limited was incorporated as a public limited company on
February 14, 199S. The company is engaged in the manufacturing of
diamond studded gold jewellery and trading of cut and polished diamond.
Earlier known as Shukra Capitals Limited, it acquired its present name
on Septem- ber 09, 1997. Company is having well developed land and
building and plant and machinery at the special economic zone (SEZ)
near Surat in Gujarat for the manufacturing project. Polished diamonds
and gold jewellery are sold in the domestic as well as the export
markets.
The registered office of the company is located at Chirag Industrial
Complex, 39/40, Gold Industrial Estate, Somnath Road, Daman &
Diu-396210 (UT). The corporate office of the company is situated at
Opera House, Mumbai.
1.1 Related Party Disclosures:
Names of related parties and description of relationship:
1. Key Management Personnel and their Relatives:
Chandrakant H Shah - Key Management Personnel
Gaurav Chandrakant Shah - Relative of Key Management Personnel
2. Enterprises over which Key Management Personnel has significant
influence
Shukra Land Developers Limited
1.2 Contingent LiabilityAsset:
A demand of Rs. 32,84,840/- has been raised by the Income Tax Authorities
for the As- sessment Year 2009-10, which the company has not
acknowledged as debt. The com- pany has deposited a sum of Rs. 8,00,000
against this demand. This matter of dispute is pending before the
Income Tax Appellate Tribunal (ITAT Appeals). The management be- lieves
that ultimate outcome of this proceeding will not have a material
adverse effect on the Company''s financial position and results of
operation. Based on the decisions of the Appellate Authorities and the
other relevant provisions, the Company has been legally advised that
the demand is likely to be either deleted or substantially reduced and
accor- dingly no provision has been made.
Mar 31, 2012
Company Overview
Shukra Bullions Limited was incorporated as a pubfc limited company on
February 14, 1995. The company is engaged in the manufacturing of
diamond studded gold jewellery and trading of cut and polished diamond.
Earlier known as Shukia Capitals Limited,i t acquired its present name
on September 09,1997. Company is having well developed land and
building and plant and machinery at the special economic zone (SEZ)
near Surat in Gujarat for the manufactur- ing project. Polished
diamonds are sold in the domestic markets.
The registered office of the company is located at Chirag Industrial
Complex, 39/40, Gold Industrial Estate, Somnath Road, Daman &
Diu-396210 (UT). The corporate office of the company is situated at
Opera House, Mumbai.
The previous period figures have been regrouped/ reclassified, whenever
necessary to con- form to the current period presentation.
The company has only one class of shares referred to as equity shares
having a par value of Rs.10/- each. Each holder of equity shares is
entitled to one vote per share.
Board of Directors of the company has not proposed any dividend for the
current reporting period.
1.1 Contingent LiabilityAsset:
A demand ofRs. 32,84,840/- has been raised by the Income Tax Authorities
for the As- sessment Year 2009-10, which the company has not
acknowledged as debt. The com- pany has deposited a sum of Rs. 8,00,000
against this demand. This matter of dispute is pending before the
Commissioner of Income Tax (Appeals). The management believes that
ultimate outcome of this proceeding will not have a material adverse
effect on the Company's financial position and results of operation.
Based on the decisions of the Ap- pellate Authorities and the other
relevant provisions, the Company has been legally ad- vised that the
demand is likely to be either deleted or substantially reduced and
accor- dingly no provision has been made.
Mar 31, 2010
1. The Company does not possess information as to which of its
supplies is small scale industrial undertaking and their outstanding
dues or interest paid is not ascertained. Therefore the same is not
reported. Such SSI or such SMEs are also not identified or ascertained
or such information is not available and the Company has not identified
or classified such suppliers.
2. As regards to AS-18 Related Party disclosure
None of the transactions with any of the related parties were in
conflict with the interest of the company.
3. During the year Contingent Liabilities is Nil
4. In opinion of management, Current Assets, Loans and Advances are
approximately of the value stated, if released in the ordinary course
of business, the provision for all known liabilities are adequate and
not in excess than reasonable necessary.
5. Figures of previous year have been re-grouped/re-arranged wherever
necessary.
6. Previous figure regrouped or rearranged.
7 Schedule 1 to 14 is an integral part of the accounts.
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