Home  »  Company  »  Shukra Bullions  »  Quotes  »  Notes to Account
Enter the first few characters of Company and click 'Go'

Notes to Accounts of Shukra Bullions Ltd.

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.

 
Subscribe now to get personal finance updates in your inbox!