Mar 31, 2014
1. Related Party Disclosures
There is no other company, which is under the same management in which
the directors of the company are entrusted as directors and / or
shareholders. There is no transaction with any firm and / or proprietor
firm in which the directors of the company are interested as a partners
or proprietor.
2. Key Management Personnel:
The Key Management Personnel are the Whole Time Director and Company
Secretary Cum Compliance officer, whose names are mentioned in the
Corporate Governance Report.
3. There are not any particulars which are required to be furnished
pursuant to Clause VIII of part II of the Schedule VI of the Companies
Act, 1956.
4. In compliance with the Accounting Standard AS-22 relating to
"Accounting for Taxes on Income" issued by the Institute of Chartered
Accountants of India, the company had provided for Deferred tax
liability arising out of timing difference. During the year under
report, there has been reversal of the said deferred tax liability to
the extent of Rs.259,6575/-(P.Y Rs. 275, 616), on account of difference
between Book and Tax Depreciation. Accordingly, the said item has been
credited to Statement of Profit & Loss of the year under report.
5. The Company has two reportable business segments i.e. Trading of
Products & Commodities and IT Activities. The Company operates mainly
in Indian market and there are no reportable geographical segments.
6. In the Opinion of the Board, all the current assets, loans and
advances have a value on realization in the ordinary course of business
at least equal to the amount stated in the Balance Sheet and all the
known liabilities have been provided for.
7. Certain Debit and Credit Balances are being subject to
confirmation.
8. During the year , the Company has shown the units of Mutual Fund
"Arihant Mangal "(Growth Scheme) , in its Non-Current Trade
Investments, after the lapse of several years due to Mutual Fund
"Arihant Mangal "(Growth Scheme) was kept abeyance by the Order of
Hon''ble High Court, Bombay. In this context, the Hon''ble High Court,
Delhi, passed the Order dtd 29/05/2013, where in they have directed
that the Mutual Fund "Arihant Mangal "(Growth Scheme) was reconsidered
to dispose off the Mutual Fund "Arihant Mangal "(Growth Scheme) in
terms of the SEBI regulations in full and final settlement through
methodological basis. In view of the above facts, the Board have taken
steps to recover the proceedings against dispose of units of Mutual
Fund "Arihant Mangal "(Growth Scheme).
9. The figures appearing in the Financial Statements have been
rounded off to nearest rupee.
10. Previous year''s figures have been regrouped/ reclassified wherever
necessary to correspond with the current year''s classification
/disclosure.
Mar 31, 2013
1. During the financial year 2012-13, there are not any transactions
with any suppliers / parties who are covered under ''The Micro Small and
Medium Enterprises Development Act, 2006''.
2. RELATED PARTY DISCLOSURES :
There is no other company, which is under the same management in which
the directors of the company are entrusted as directors and / or
shareholders. There is no transaction with any firm and / or proprietor
firm in which the directors of the company are interested as a partners
or proprietor.
3. KEY MANAGEMENT PERSONNEL :
The Key management personnel are the directors, whose names are
mentioned in the corporate governance report.
4. The Company is selling software in domestic markets. Out of many
software projects under development at the commencement of the
financial year, the company has completed some projects and sold /
delivered the same, the cost and revenue of which has been taken to the
Statement of profit and loss. Since the revenue generation begins after
the completion of the software projects / products, the company is of
the view that development expenditure on the unfinished / uncompleted
software should be treated as part of inventory as ''Software Projects
under Development'' and included in Work in progress.
5. There are not any particulars which are required to be furnished
pursuant to Clause VIII of part II of the Schedule VI of the Companies
Act, 1956.
6. In compliance with the Accounting Standard AS-22 relating to
"Accounting for Taxes on Income" issued by the Institute of Chartered
Accountants of India, the company had provided for Deferred tax
liability arising out of timing difference. During the year under
report, there has been reversal of the said deferred tax liability to
the extent of Rs.2, 75,616/- (P.Y Rs. 2, 63,573/-), on account of
difference between Book and Tax Depreciation. Accordingly, the said
item has been credited to Statement of Profit & Loss of the year under
report.
7. SEGMENT REPORTING :
The Company has two reportable business segments (i) Commodities,
Wellness Products and Services (ii) IT Activities. The Company operates
mainly in Indian market and there are no reportable geographical
segments.
8. EARNINGS PER SHARE :
Earnings per share are calculated by dividing the profit attributable
to the equity shareholders by the number of equity shares outstanding
during the year, as under:
9. In the Opinion of the Board, all the current assets, loans and
advances have a value on realization in the ordinary course of business
at least equal to the amount stated in the Balance Sheet and all the
known material liabilities have been provided for.
10. Certain Debit and Credit Balances are being subject to
confirmation.
11. The figures appearing in the Financial Statements have been
rounded off to nearest rupee.
12. Previous year''s figures have been regrouped / reclassified
wherever necessary.
Mar 31, 2012
NOTE :- 1 SHARE CAPITAL
(i) Terms/rights attached to Equity shares
The Company has only one class of equity shares having a par value of
Rs. 10/- per share. Each equity shareholder is entitled to one vote per
share. The Company have not declared any dividends for the year under
review.
(ii) No Equity Shares of the Company are held by its Holding Co or its
Ultimate Holding Co or by subsidiaries or associates of the holding co
or the ultimate Holding Co, since the Company does not have any Holding
Co or Subsidiary Co as at 31st March, 2012 and as at 31st March, 2011.
(iii) None of the Shareholders holding more than 5% shares in the
issued, subscribed and paid up Equity share capital of the Company as
at 31st March, 2012 and as at 31st March, 2011.
(iv) No Equity Shares are reserved for issue under the employee stock
option (ESOP) plan of the Company and for contracts /commitments for
the sale of shares /disinvestment as at 31st March, 2012 and as at 31st
March, 2011.
(v) During the period of five years immediately preceding the
reporting date:
(a) No Shares were allotted pursuant to any contract(s)/arrangements
without payment being received in cash ;
(b) No Shares were allotted by way of bonus shares;
(c) No Shares were bought back;
(vi) The Company does not issued any securities which will be
convertible into Equity Shares in future.
(vii) No Calls unpaid by any share holders at 31st March, 2012 and as
at 31st March, 2011.
(ix) Since Inception, no Shares were Forfeited by the Company or there
were any re-issue of any Forfeited shares
(x) In Financial Year 2007-08, equity shares capital of the company was
consolidated from Five equity shares of Rs. 2/- (100,010,000 equity
shares) each into One equity shares of Rs. 10/- each (20,002,000 equity
shares).
2. During the financial year 2011-12, there are not any transactions
with any suppliers/parties who are covered under 'The Micro Small and
Medium Enterprises Development Act, 2006'.
3. Related Party Disclosures
There is no other company, which is under the same management in which
the directors of the company are entrusted as directors and/or
shareholders. There is no transaction with any firm and/or proprietor
firm in which the directors of the company are interested as a partners
or proprietor.
4. Key Management Personnel:
The Key management personnel are the directors, whose names are
mentioned in the corporate governance report.
5. The Company is selling software in domestic markets. Out of many
software projects under development at the commencement of the
financial year, the company has completed some projects and sold /
delivered the same, the cost and revenue of which has been taken to the
Statement of profit and loss. Since the revenue generation begins
after the completion of the software projects/products, the company is
of the view that development expenditure on the unfinished/uncompleted
software should be treated as part of inventory as 'Software Projects
under Development' and included in Work in progress.
6. There are not any particulars which are required to be furnished
pursuant to Clause VIII of part II of the Schedule VI of the Companies
Act, 1956.
7. In compliance with the Accounting Standard AS-22 relating to
"Accounting for Taxes on Income" issued by the Institute of Chartered
Accountants of India, the company had provided for Deferred tax
liability arising out of timing difference. During the year under
report, there has been reversal of the said deferred tax liability to
the extent of Rs. 2, 63,573/- (P.Y Rs.1, 35,886/-), on account of
difference between Book and Tax Depreciation. Accordingly, the said
item has been credited to Statement of Profit & Loss of the year under
report.
8. The Company has two reportable business segments (i) Commodities,
Wellness Products and Services (ii) IT Activities. The Company operates
mainly in Indian market and there are no reportable geographical
segments.
9. In the Opinion of the Board, all the current assets, loans and
advances have a value on realization in the ordinary course of business
at least equal to the amount stated in the Balance Sheet and all the
known liabilities have been provided for.
10. Certain Debit and Credit Balances are being subject to
confirmation.
11. The figures appearing in the Financial Statements have been rounded
off to nearest rupee.
12. The Revised Schedule VI has become effective from 1st 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, 2011
1. Related Party Disclosures
There is no other company, which is under the same management in which
the directors of the company are interested as directors and / or
shareholders. There is no transaction with any firm and / or proprietor
firm in which the directors of the company are interested as a partners
or proprietor.
2. Key Management Personnel
The Key management personnel are the directors, whose names are
mentioned in the corporate governance report.
3. The names of Micro Small and Medium Enterprisers suppliers defined
under 'The Micro Small and Medium Enterprises Development Act, 2006'
could not be identified, as the necessary evi- dence is not in the
possession of the Company.
4. Liabilities in respect of gratuity & leave encashment and other
retirement benefits are accounted for on cash basis which is not in
conformity with Accounting Standard (AS) 15 (Revised 2005) on Employee
Benefits as issued by the Institute of Chartered Accountants of India
which requires that Gratuity and Leave Encashment Liabilities be
accounted for on accrual basis.
5. Valuation of investment in quoted shares can not be ascertained as
the shares are not traded due to suspension at stock exchange where the
shares are listed and audited Balance Sheet of these companies are not
available. With regards to unquoted equity shares, balance sheets are
not available for verification.
6. In the opinion of the management, there is no impairment of assets
and no contingent liabilities as on Balance Sheet date.
7. Purchase/ Sale/ expenses have been verified on test check basis.
8. The Company is developing software for marketing in domestic
markets. Out of many software projects under development at the
commencement of the financial year 2010-2011, the company has completed
some projects and sold / delivered the same, the cost of which has been
taken to the profit and loss account. Since the revenue generation
begins after the completion of the software projects / products, the
company is of the view that development expenditure on the unfinished /
incompleted software should be treated as part of inventory under the
head 'Software Projects under Development'.
9. Paise have been rounded off to the nearest rupee.
10. Schedule A to I form an integral part of Balance Sheet and Profit
& Loss Account.
11. Previous year figures have re grouped or rearranged wherever
necessary.
Mar 31, 2010
1. Related Party Disclosures
There is no other company, which is under the same management in which
the directors of the company are entrusted as directors and / or
shareholders. There is no transaction with any firm and / or proprietor
firm in which the directors of the company are interested as a partners
or proprietor.
2. Key Management Personnel
The Key management personnel are the directors, whose names are
mentioned in the corporate governance report.
3. The names of Micro Small and Medium Enterprisers suppliers defined
under The Micro Small and Medium Enterprises Development Act, 2006
could not be identified, as the necessary evidence is not in the
possession of the Company.
4. Liabilities in respect of gratuity & leave encashment and other
retirement benefits are accounted for on cash basis which is not in
conformity with Accounting Standard (AS) 15 (Revised 2005) on Employee
Benefits as issued by the Institute of Chartered Accountants of India
which requires that Gratuity and Leave Encashment Liabilities be
accounted for on accrual basis.
5. Valuation of investment in quoted shares can not be ascertained as
the shares are aot traded due to suspension at stock exchange where the
shares are listed and audited Balance Sheet of these companies are not
available. With regards to unquoted equity shares, balance sheets are
not available for verification.
6. In the opinion of the management, there is no impairment of assets
and no contingent liabilities as on Balance Sheet date.
7. Purchase/ Sale/ expenses have been verified on test check basis.
8. The Company is developing software for marketing in domestic
markets. Out of many software projects under development at the
commencement of the financial year 200^- 2010, the company has
completed some projects and sold / delivered the same, the cost of
which has been taken to the profit and loss account Since the revenue
generation begins after the completion of the software projects /
products, the company is of the view that development expenditure on
the unfinished / incompleted software should be treated as part of
inventory under the head Software Projects under Development.
9. Paise have been rounded off to the nearest rupee.
10. Schedule A to J form an integral part of Balance Sheet and Profit
& Loss Account.
11. Previous year figures have re grouped or rearranged wherever
necessary.
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