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

Notes to Accounts of Swadeshi Industries & Leasing Ltd.

Mar 31, 2015

1) In the opinion of the management, the current assets, loans and advances have the values on realization in the ordinary course of business at least equal to the amounts at which they are stated in the balance sheet except the trade receivables and loans and advances which falls under management's policy for bad and doubtful debts as taken in the previous years.

2) All Debit and Credit balances are subject to confirmation and reconciliation.

3) There are no dues to Micro, Small & Medium Enterprises as at Balance Sheet date and no interest has been paid to any such parties. This is based on the information on such parties having been identified on the basis of information available with the Company and relied upon by the auditors.

4) Earnings Per Share (EPS) The following reflects the profit and share data used in the basic and diluted EPS Computations:

5) Related Party transactions:

As per the AS 18 for related party transaction issued by The Institute of Chartered Accountants of India and statement provided by the Company for Identification of Related Parties and accepted by the auditors relying on the authenticity of the statement. The related party transactions are as follows.


Mar 31, 2014

Related Party transactions:

As per the AS 18 for related party transaction issued by The Institute of Chartered Accountants of India and statement provided by the Company for Identification of Related Parties and accepted by the auditors relying on the authenticity of the statement. There is no payment to related parties.

31 March 2014 31 March 2013 (Rs.) (Rs.) Contingent liabilities and commitments (to the extent not provided for)

Contingent liabilities

(a) Claims against the Company not acknowledged as debt Not Not Ascertainable Ascertainable

(b) Legal suits and claims filed against the company Not Not Ascertainable Ascertainable

Disclosures required under Section 22 of the Micro, Small and Medium Enterprises Development Act, 2006

Micro, Small and Medium Enterprises in terms of section 22 of the Micro, Small and Medium Enterprises Development Act, 2006 have been determined to the extent such parties have been identified on the basis of information available with the Company and relied upon by the auditors. The Company has not received any instruction from suppliers regarding their status under the Micro, Small and Medium Enterprises Development Act, 2006 and hence, disclosures if any, relating to amounts unpaid as at the year end together with interest payable as required under the said Act have not been given.

The balances appearing under unsecured loans, sundry creditors, loans and advances, and certain banks are subject to confirmation and reconciliation and consequential adjustment, if any, will be accounted for in the year of confirmation and/or reconciliation

In the opinion of the Board, the Current Assets, Loans and Advances have value on realisation in the ordinary course of business, at least equal to the amount at which they are stated in the Balance Sheet.

All known liabilities are provided for on the basis of available information/ estimates. 20.7 Other advances includes Rs. 1,000,000/- (Previous year Rs. 2,500,000) paid to M/s. Anira Devlopers Private Limited as advance against realty, Rs. 5,000,000/- (Previous year Rs. 5000,000) paid to M/s. Nahata Leasing Private Limited as loan.

Segment Reporting:

During the year, the Company has only one segment in product wise and geographical wise, hence Segment Reporting in accordance with Accounting Standard 17 (AS-17), “Segmental reporting”, issued by the Institute of Chartered Accountants of India, has not been provided.

The Revised Schedule VI has become effective from 1 April, 2011 for the preparation of financial statements. This has significantly impacted the disclosure and presentation made in the financial statements. Previous year’s figures have been regrouped / reclassified wherever necessary to correspond with the current year’s classification / disclosure.


Mar 31, 2013

1. Value of imported and indigenous raw materials consumed during the year and the percentage of each to the total consumption:-

2. Figures for previous years have been re-grouped/re-arranged, wherever necessary.

3. Related Party transactions:

As per the AS 18 for related party transaction issued by The Institute of Chartered Accountants of India and statement provided by the Company for Identification of Related Parties and accepted by the auditors relying on the authenticity of the statement the following are the related party transactions are recognised as under:


Mar 31, 2012

1. Related Party transactions:

As per the AS 18 for related party transaction issued by The Institute of Chartered Accountants of India and statement provided by the Company for Identification of Related Parties and accepted by the auditors relying on the authenticity of the statement the following are the related party transactions are recognised as under:


Mar 31, 2011

1. Figures for previous years have been re-grouped/re-arranged, wherever necessary.


Mar 31, 2010

1. Figures for previous years have been re-grouped/re-arranged,wherever necessary.

 
Subscribe now to get personal finance updates in your inbox!