Mar 31, 2014
1. (a) Terms/rights attached to Equity Shares
The Company has only one class of Equity Shares having a par value of
Rs.10/- each. Each holder of Equity Shares is entitled to one vote per
share. In the event of Liquidation of the company the holders of equity
shares will be entitled to receive remaining assets of the company.
2. CONTINGENT LIABILITIES NIL (NIL)
3. Previous year''s figures have been regrouped or rearranged, wherever
considered necessary.
4. In the opinion of directors, current assets and loans and advances
have a value on realization in the ordinary course of the business at
least equal to the amount at which these have been stated in the
Balance Sheet.
5. Foreign Currency Exposures
The yearend Foreign Currency Exposure is given below:
I) Expenditure in Foreign Currency Rs. NIL (NIL)
II) Earnings in Foreign Currency Rs. NIL (NIL)
6. The Company has not provided for the Employees Benefits as on the
date of the Balance Sheet. In the opinion of the management, no
provision is required for employees'' benefits, as at present
consolidated salaries are being paid to employees and there are no
retirement benefit plans. Moreover, there is no employee who has
rendered service to qualify for payment under Gratuity Act. The
necessary policies will be made in due course and the accounting for
the same will be done as per applicable accounting standard (AS-15)
notified by the ICAI.
7. To the extent information available with the company, it has not
dues to Micro, small and Medium Enterprises as on 31.03.2014 and
31.03.2013
8. Related Parties Disclosures
The Related Parties disclosure and transactions with them during the
year in the ordinary course of business are as follow:
Key Management Personnel
* Narender Kumar Arora * Durga Prasad Sharma
* Vijay Sehgal * Kapoor Chand Gupta
List of Related Parties
* Hari Creations Private limited
* Standard Securities & Investment Intermediates ltd
* ADL international Ltd
* Akar Share Intermediates Pvt. Ltd.
* India Cotvel Ltd
* Madhu Vij
* Sarvodya Realmart Pvt. Ltd.
* Sarvodya Realcon Pvt .Ltd.
9. Segment Reporting
In the opinion of the management, there are no separate reportable
segments as per Accounting Standard (AS-17) of Segment Reporting.
10. The parties'' accounts, whether in debit or credit, are subject to
confirmation.
Mar 31, 2013
1. CONTINGENT LIABILITIES NIL
2. Previous year''s figures have been regrouped or rearranged, wherever
considered necessary
3. In the opinion of directors, current assets and loans and advances
have a value on realization in the ordinary course of the business at
least equal to the amount at which these have been stated in the
Balance Sheet.
4. Foreign Currency Exposures
The yearend Foreign Currency Exposure is given below:
I) Expenditure in Foreign Currency Rs. NIL
II) Earnings in Foreign Currency Rs. NIL
5. The Company has not provided for the Employees Benefits as on the
date of the Balance Sheet. In the opinion of the management, no
provision is required for employees'' benefits, as at present
consolidated salaries are being paid to employees and there are no
retirement benefit plans. Moreover, there is no employee who has
rendered service to qualify for payment under Gratuity Act. The
necessary policies will be made in due course and the accounting for
the same will be done as per applicable accounting standard (AS-15)
notified by the ICAI.
6. The Company has started the process of identification of Parties,
whether they come under the purview of The Micro, Small And Medium
Enterprise Development Act,2006, However, as on date, the company
doesn''t have the sufficient information to comply with the disclosure
requirement of the Act.
7. Deferred Tax Liability/Asset
As required by Accounting Standard (AS-22) '' Taxes on Income'' issued by
the ICAI, the Company has recognized deferred taxes, which result from
timing difference between book profits and tax profits. The Deferred
Tax Asset (Net) as on 31.03.2013 is as under:
8. Related Parties Disclosures
The Related Parties disclosure and transactions with them during the
year in the ordinary course of business are as follow:
Key Management Personnel
Narender Kumar Arora
Durga Prasad Sharma
Vijay Sehgal
KapoorChand Gupta
List of Related Parties
Parthy & Widge Securities Ltd.
Hari Creations Private limited
Standard Securities & Investment Intermediates ltd
ADL international Ltd
Akar Share Intermediates Pvt. Ltd. Geeta Arora ArpitArora Madhu Vij
Sarvodya Realmart Pvt. Ltd. Transactions with the Related Parties
during the year and balance as 31.03.2013
Nature of transaction Amount (Rs. Lacs) Balance as on 31.03.13
- Loans Returned from Parties 27,64,000/- 24,06,431/-
- Loans Returned to Parties 9,44,525/-
- Interest Earned 2,41,537/-
9. Segment Reporting
In the opinion of the management, there are no separate reportable
segments as per Accounting Standard Segment Reporting (AS-17)
10. The parties'' accounts, whether in debit or credit, are subject to
confirmation.
Mar 31, 2012
1. CONTINGENT LIABILITIES NIL(NIL)
2. Previous year's figures have been regrouped or rearranged' wherever
considered necessary
3. In the opinion of directors' current assets and loans and advances
have a value on realization in the ordinary course of the business at
least equal to the amount at which these have been stated in the
Balance Sheet.
4. Foreign Currency Exposures
The year end Foreign Currency Exposure are given below:
I) Expenditure in Foreign Currency Rs. NIL (NIL)
II) Earnings in Foreign Currency Rs. Nil (NIL)
5. The Company has not provided for the Employees Benefits as on the
date of the Balance Sheet. In the opinion of the management' no
provision is required for employees' benefits' as at present
consolidated salaries are being paid to employees and there are no
retirement benefit plans. Moreover' there is no employee who has
rendered service to qualify for payment under Gratuity Act. The
necessary policies will be made in due course and the accounting for
the same will be done as per applicable accounting standard (AS-15)
notified by theICAI.
6. The Company has started the process of identification of Parties'
whether they come under the purview of The Micro' Small And Medium
Enterprise Development Act'2006' However' as on date' the company
doesn't have the sufficien 9. Segment Reporting
In the opinion of the management' there are no separate reportable
segments as per Accounting Standard Segment Reporting (AS-17)
7. The parties' accounts' whether in debit or credit' are subject to
confirmation.
Mar 31, 2010
A) The Previous years figures have been reworked, regrouped and
reclassified wherever necessary. Accordingly, amounts and other
disclosures for the preceding year are included as and integral part of
the current year financial statements and are to be read in relation to
the amounts and other disclosures relating to the current year.
b) Disclosures for the preceding year are included as an integral part
of the current year financial statements and are to be read in relation
to the amounts and other disclosures relating to the current year.
c) Income from Operation Includes Income from Interest on Loans of Rs.
26,36,386/- (Previous Year Rs. 23,14,888/-)
d) No Provision for gratuity has been made as no employee has put in
the qualifying period of services for entitlement of this benefit.
e) No Provision for Bonus has been made as Company is not covered under
the payment of Bonus Act.
f) According to the information available with the company, there is no
micro small and medium enterprise to which the company owes any sum
together with the interest outstanding for more than thirty days.
g) During the financial year 1997-98, the company had filed a criminal
suit against an employee for an alleged infidelity by the employee for
a sum of Rs. 20.22 Lacs. As the insurance cover was available only for
Rs. 10.00 Lacs, the Insurance company has repudiated the claim and the
company has filed an appeal in the consumer forum. The same was not
provided and shall be accounted for only when the claim is finally
settled by the consumer forum.
h) In the opinion of the management, the current assets, loans and
advances have a value on realization on the ordinary course of business
at least equal to the amount at which they are stated in the Balance
Sheet and that all the known liabilities relating to the period have
been provided for.
i) The aggregate market value of Companys Stock in trade is Rs.
7,14,957/- (Previous Year Rs. 16,04,783/-)
j) Listing Fee from the Financial Year 2009-10 pertaining to Jaipur
Stock Exchange has not been provided.
k) CIF Value of Imports NIL
l) Expenditure incurred in Foreign Currency NIL
m) There is no employee in receipt of remuneration aggregating to not
less than Rs. 2, 00,000/- p.m. if employed for a part of the year, or
Rs. 24, 00,000/- p.a., if employed for full year.
n) The deferred tax asset/liabilities have not been recognized. This is
in accordance with Accounting Standard (AS-22) "Accounting for Taxes on
Income" issued by The Institute of Chartered Accountants of India.
o) Schedule 1 to 10 and company general business profile are integral
part of the Balance Sheet and Profit & Loss Account.