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Notes to Accounts of Synergy Bizcon Ltd.

Mar 31, 2015

1 Corporate information

Synergy Bizcon Limited is a Public company incorporated on 29th April, 1993 under Companies Act 1956. The Registered Office of the company is situated at 404, Navneet Plaza, 5/2, Old Palasia, Indore (M.P.)-452001 and having Corporate Office-101, Siddh Chambers,Taratiya Hanuman Street, Gurjar Falia, Haripura,Surat-395003, Gujarat. Its shares are listed on Bombay Stock Exchange in India. The Company is Currently Engaged in Business of Diamond, precious Metals and Stones Trading and Real Estate.

2.1

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

All employee benefits payable wholly within twelve/operating cycle months of rendering the service are classified as short-term employee benefits. Benefits such as salaries, wages, and short term compensated absences, etc. are recognized in the period in which the employee renders the related services. There is no defined benefit plans during the period. No managerial remuneration has been paid during the period to the director.(Previous year Nil.)

3 Related Party Disclosures

In accordance with accounting standard 18 " Related Party Disclosure" issued by the Institute of Chartered Accountant of India, the Company has compiled the required information is as under :-

Key Managerial Personnel

Mr. Dhirajbhai Vaghjibhai Koradiya (Managing Director)

Mr. Shwet Dhirajbhai Koradiya (Director/ Chief Financial Officer)

Note: Related parties have been identified by the Management.

Transactions with Related Parties: There are following transaction with related parties during the period ended on 31.03.2015.

4 Segment Reporting: The Company has identified business segments as its primary segment and geographic segments as its secondary segment. The segment reporting policies complies with the accounting policies adopted for preparation and presentation of financial statements of the company and in conformity with accounting standard-17 on segment reporting issued by ICAI.

a) Business Segment :

The Company is operates in three segments namely in the business of diamonds trading, real estate business & shares trading business. Hence the entire revenue and expenses pertains to these segments. Assets and liabilities that are directly attributable or allocable to segments are disclosed under each reportable segment. All other assets and liabilities are disclosed as unallocable.

5 In the opinion of the Board of Directors of the Company, the other Current Assets, Loans and Advances have a value realizable in the ordinary course of business at least equal to the amount at which they are stated and provisions for all known liabilities are adequate and not in excess of the amount reasonably necessary.

6 These financial statements have been prepared in the format prescribed by the revised Schedule III to the Companies Act, 2013. Previous period figures have been recasted/ restated to confirm to the current period. Figures have been rounded off to the nearest Rupee.


Jun 30, 2014

1. CORPORATE INFORMATION

"Synergy Bizcon Limited is a Public company incorporated on 29th April,1993 under Companies Act 1956.The Registered Office of the company is situated at 404, Navneet Plaza, 5/2, Old Palasia, Indore . Its share are listed on a recognised stock exchange in India. The Company is engaged in the business of share and Diamond trading. No money circulating scheme shall be carried on by the company."

2. (i) Terms/Rights attached to equity Shares

Equity Shares : The company has only one class of equity shares having par value of Rs.10 per share. Each share holder is eligible for one vote per share held. In the event of liquidation, the equity shareholders are eligible to receive the remaining assets of the Company after distribution of all preferential amounts, in proportion to their shareholding. The distribution will be in proportion to the number of equity shares held by the shareholders.

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

All employee benefits payable wholly within twelve/operating cycle months of rendering the service are classified as short-term employee benefits. Benefits such as salaries, wages, and short term compensated absences, etc. are recognized in the period in which the employee renders the related services. There is no defined benfit plans during the period. No managerial remuneration has been paid during the period to the director.(Previous year Nil.)

4. Related Party Disclosures

In accordance with accounting standard 18 "Related Party Disclosure" issued by the Institute of Chartered Accountant of India, the Company has compiled the required information is as under :- Key Managerial Personnal

Mr. Dhirajbhai Vaghjibhai Koradiya (Managing Director)

Mr. Shwet Dhirajbhai Koradiya (Chief Finance Officer)

Transactions with Related Parties: There are no transaction with any of the related parties during the period ended on 30.06.2014.

5. Segment Reporting

a) Business Segment :

The Company is mainly engaged in the business of Dimonds and shares trading. All other activities of the Company revolve around the main business and as such there is no separate reportable business segment.

b) Geographical Segment:

Since all the operations of the Company are conducted within India as such there is no separate reportable geographical segment.

6. Various items included under the head Current Assets, Loan & Advances, as well as Current Liabilities are subject to confirmation / reconciliation.

7. In the opinion of the Board of Directors of the Company, the other Current Assets, Loans and Advances have a value realizable in the ordinary course of business at least equal to the amount at which they are stated and provisions for all known liabilities are adequate and not in excess of the amount reasonably necessary.

8. These financial statements have been prepared in the format prescribed by the revised Schedule VI to the companies Act 1956. Previous period figures have been recasted / restated to confirm to the current period. Figures have been rounded off to the nearest Rupee.


Sep 30, 2013

1. CORPORATE INFORMATION

The Registered Office of the company is situated at 404, Navnit Plaza, 5/2, Old Palasia, Indore.

The Company engaged in the business of Construction & Share Trading.

2. Related party disclosures:

The company has not transacted with any related party during the year (previous year NIL)

3. CIF value of Imports

The company has not made any imports during the period. (Previous year NIL)

4. Expenditure in foreign currency:

The company has not made any expenditure in foreign currency during the period. (Previous year NIL)

5. Earnings in foreign currency:

The company has not made earning in foreign currency during the year. (Previous year NIL)

6. Dividend remittance in foreign currency

The company has not made any payment of dividend in foreign currency during the year (Previous year NIL)

7. Capital commitments and contingents liabilities:

(a) Estimated amount of contracts remaining to be executed on capital account and not provided in the books of accounts is NIL. (Previous year NIL)

(b) The company does not have any contingent liabilities at the end of the period (Previous year NIL)

8. The Company do not have any employees who are drawing remuneration of Rs. 5.00 Lakh per month or Rs. 60.00 Lakh per annum. (Previous year Nil)

9. Previous year figure have been regrouped / reclassified wherever necessary to make them comparable with the current period.

10. The accounts are prepared omitting paise.


Sep 30, 2012

1. CORPORATE INFORMATION

The Registered Office of the company is situated at ST-3, 22 Press Complex, A.B Road, Indore.

The Company engaged in the business of Construction & Share Trading.

2. Related party disclosures:

The company has not transacted with any related party during the year (previous year NIL)

3. CIF value of Imports

The company has not made any imports during the period. (Previous year NIL)

4. Expenditure in foreign currency:

The company has not made any expenditure in foreign currency during the period. (Previous year NIL)

5. Earnings in foreign currency:

The company has not made earning in foreign currency during the year.(Previous year NIL)

6. Dividend remittance in foreign currency

The company has not made any payment of dividend in foreign currency during the year (Previous year NIL)

7. Capital commitments and contingents liabilities:

(a) Estimated amount of contracts remaining to be executed on capital account and not provided in the books of accounts is NIL. (Previous year NIL)

(b) The company does not have any contingent liabilities at the end of the period (Previous year NIL)

8. The company do not have any employees who are drawing remuneration of Rs.25000 per month or Rs.300000 per annum. (Previous year Nil)

9. Previous year figure have been regrouped / reclassified wherever necessary to make them comparable with the current period.

10. The accounts are prepared omitting paise.


Sep 30, 2011

1. Segment Reporting

(a) Segment accounting policies

The segment reporting policies complies with the accounting policies adopted for preparation and presentation of financial statements of the company and in conformity with accounting standard-17 on segment reporting issued by ICAI.

(b) The company operates in two segments namely Construction and share trading.

2. Related party disclosures:

The company has not transacted with any related party during the year.(previous year Nil)

3. CIF value of imports

The company has not made any imports during the period. (Previous year NIL)

4. Expenditure in foreign currency:

The company has not made any expenditure in foreign currency during the Period. (Previous year NIL)

5. Earnings in foreign currency:

The company has not made earnings in foreign currency during the year. (Previous year Nil)

6. Dividend remittance in foreign currency

The company has not made any payment of dividend in foreign currency during the year (Previous year NIL)

7. Capital commitments and contingents liabilities:

(a) Estimated amount of contracts remaining to be executed on capital account and not provided in the books of accounts is NIL.(Previous year NIL)

(b) The company does not have any contingent liabilities at the end of the period . (Previous year NIL)

8. Previous year figure have been regrouped / reclassified wherever necessary to make them comparable with the current period.

 
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