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Notes to Accounts of Tiger Logistics (India) Ltd.

Mar 31, 2023

Contingent Liabilities (not provided for) in respect of: (as certified by Management)

S.No.

Particulars

Current Year

Previous

Year

1.

Show cause / demand / notices by Income Tax authorities being disputed by the Company net

NIL

9.32

2.

3.

of payments

Show cause / demand / notices by Central Excise and Service Tax authorities being disputed by the Company

565.06

15.99

565.06

17.73

4.

Outstanding Bank Guarantees

Claims against the Company not acknowledged as debts

390.66

380.86


In the opinion of the Board and to the best of their knowledge and belief, the value on realization of current assets, loans and advances in the ordinary course of business will not be less than the amount at which they are stated in the Balance Sheet except as shown doubtful and provision for all known liabilities, expenses and income have been made in the accounts unless stated otherwise in the notes.

Tiger Logistics India Limited & Its Subsidiary:

i) Company has no subsidiary as on 31st March 2023

ii) The Company is dealing in logistics solutions for both inbound and outbound cargo.

On the basis of data compiled by the Company, there are no small scale industrial undertakings to whom the Company owes any sum outstanding for more than 30 days.

The Company has taken office premises on cancellable operating lease. Lease Rents charged to Statement of Profit & Loss Rs. 49,40,858 (previous year Rs. 41,76,354). Since the leases are cancellable in nature.

b) Segment Capital employed

Fixed Assets used in the company''s business or liabilities contracted have not been identified to any of the reportable segments, as the fixed assets and services are used interchangeably between segments. Accordingly, no disclosure relating to individual segment assets and liabilities has been made.

Previous year figures have also been regrouped/ rearranged, wherever necessary.


Mar 31, 2018

NOTE 1: CORPORATE INFORMATION:

Tiger Logistics India Ltd. incorporated in 2000, is a public limited Company domiciled in India. It is a third-party logistics services provider. Its business covers international freight forwarding, supply chain management, project logistics defense logistics and cold chain logistics. Company is also customs house agent. The company has global presence with 16 domestic and 2 international offices. It has got listed at BSE SME Platform in the year 2013 and then migrated at the main board of BSE. The registered office of the Company is located at D-174, Okhla Industrial Area, Phase-1, New Delhi-110020

NOTE 2: BASIS OF PREPARATION OF FINANCIAL STATEMENTS:

These financial statements are prepared in accordance with Indian Accounting Standard (Ind AS), under the historical cost convention on the accrual basis except for certain financial instruments which are measured at fair values, the provisions of the Companies Act, 2013 (''the Act'') (to the extent notified) and guidelines issued by the Securities and Exchange Board of India (SEBI). The Ind AS are prescribed under Section 133 of the Act read with Rule 3 of the Companies (Indian Accounting Standards) Rules, 2015 and relevant amendment rules issued thereafter.

Effective April 1, 2017, the Company has adopted all the Ind AS standards and the adoption was carried out in accordance with Ind AS 101 First time adoption of Indian Accounting Standards, with April 1, 2016 as the transition date. The transition was carried out from Indian Accounting Principles generally accepted in India as prescribed under Section 133 of the Act, read with Rule 7 of the Companies (Accounts) Rules, 2014 (IGAAP), which was the previous GAAP.

NOTE 3: In the opinion of the Board and to the best of their knowledge and belief, the value on realization of current assets, loans and advances in the ordinary course of business will not be less than the amount at which they are stated in the Balance Sheet except as shown doubtful and provision for all known liabilities, expenses and income have been made in the accounts unless stated otherwise in the notes.

NOTE 4: Tiger Logistics India Limited & Its Subsidiary:

i) At 31st March 2018, the Company has one wholly owned subsidiary, being incorporated in Singapore in the name of TIGER LOGISTICS PTE. LTD.

ii) The Company is dealing in logistics solutions for both inbound and outbound cargo.

NOTE 5: Certain debtors/creditors are subject to confirmation.

NOTE 6: Deferred T ax Liability (Net)

NOTE 7: On the basis of data compiled by the Company, there are no small scale industrial undertakings to whom the Company owes any sum outstanding for more than 30 days.

NOTE 8: The Company has taken office premises on cancellable operating lease. Lease Rents charged to Statement of Profit & Loss Rs.96,70,506 (previous year Rs. 75,18,798). Since the leases are cancellable in nature.

b) Segment Capital employed

Fixed Assets used in the company’s business or liabilities contracted have not been identified to any of the reportable segments, as the fixed assets and services are used interchangeably between segments. Accordingly, no disclosure relating to individual segment assets and liabilities has been made.

NOTE 9: Previous year figures have also been regrouped/ rearranged, wherever necessary.


Mar 31, 2016

i) Current tax is the provision made for income tax liability on the profits for the year in accordance with the provisions of Income Tax Act, 1961.

ii) Deferred Tax is recognized, on timing differences, being the differences resulting from the recognition of items in the financial statement and in estimating its current income tax provision

xii) EARNING PER SHARE: Basic earnings per share is computed by dividing the net profit or loss for the period attributable to equity shareholders by the weighted average number of equity shares outstanding during the period. Diluted earnings per share is computed by taking into account the aggregate of the weighted average number of equity shares outstanding during the period and the weighted average number of equity shares which would be issued on conversion of all the dilutive potential equity shares into equity shares.

xiii) IMPAIRMENT OF ASSETS: Impairment loss is provided to the extent the carrying amount of assets exceeds their recoverable amount. Recoverable amount is the higher of an asset’s net selling price and its value in use. Value in use is the present value of estimated future cash flows expected to arise from the continuing use of an asset and from is disposal at the end of its useful life.

xiv) PROVISIONS: PROVISION AND CONTINGENT LIABILITIES:

i) Provision is recognized ( for liabilities that can be measured by using a substantial degree of estimation ) when:

a) the company has a present obligation as a result of a past event;

b) a probable outflow of resources embodying economic benefits is expected to settle the obligation; and

c) the amount of the obligation can be reliably estimated

ii) Contingent liability is disclosed in case there is:

a) Possible obligation that arises from past events and existence of which will be confirmed only by the occurrence or non-occurrence of one or more uncertain future events not wholly within the control of the enterprise; or

b) a present obligation arising past events but is not recognized

1. when it is not possible that an outflow of resources embodying economic benefits will be required to settle the obligation; or

2. a reliable estimate of the amount of the obligation cannot be made.


Mar 31, 2015

1. In the opinion of the Board and to the best of their knowledge and belief, the value on realization of current assets, loans and advances in the ordinary course of business will not be less than the amount at which they arc stated in the Balance Sheet except as shown doubtful and provision for all known liabilities, expenses and income have been made in the accounts unless stated otherwise in the notes.

2. Certain debtors/creditors are subject to confirmation.

3. On the basis of data compiled by the Company, there are no small scale industrial undertakings to whom the Company owes any sum outstanding for more than 30 days.

4. The Company has taken office premises on cancellable operating lease. Lease Rents charged to Statement of Profit & Loss Rs.43,24,431 (previous year Rs. 3,142,400). Since the leases are cancellable in nature, other disclosures as required by Accounting Standard AS-19 arc not applicable.

5. Disclosure pursuant to Accounting Standard 15 on "Employee Benefits":

Defined contribution plans:

The Company's employee provident fund scheme is a defined contribution plans. A sum of Rs.1,107,751 (Previous Year Rs. 367,145) has been recognized as an expense in relation to the scheme and shown under Employee Benefit Expenses in the Statement of Profit and Loss.

Gratuity and compensated absences

Gratuity is payable to all eligible employees of the Company on superannuation, death or permanent disablement, in terms of the provisions of the Payment of Gratuity Act or as per the Company's Scheme whichever is more beneficial. Compensated absences is payable to all employees of the Company on superannuation, death or permanent disablement as per the Company's Scheme.

The discount rate is based on the prevailing market yields of Indian government securities as at the balance sheet date lot the estimated term of the obligations.

The salary escalation rate is based on estimates of salary increases, which take into account inflation, promotion and other relevant factors.

Economic Assumptions

The principal assumptions are the discount rate & salary growth rate. The discount rate is generally based upon the market yields available on Government bonds at the accounting date with a term that matches that of the liabilities & the salary growth rate takes account of inflation, seniority, promotion and other relevant factors on long term basis. Valuation assumptions are as follows which have been agreed by the company:

b) Segment Capital employed

Fixed Assets used in the company's business or liabilities contracted have not been identified to any of the reportable segments, as the fixed assets and services are used interchangeably between segments. Accordingly, no disclosure relating to individual segment assets and liabilities has been made.

6. Previous year figures have also been regrouped/ rearranged, wherever necessary.


Mar 31, 2014

1. Contingent Liabilities (not provided for) in respect of:

(as certified by Management) Amount in Rs.

Particulars CurrentYear PreviousYear

1. Show cause / demand / notices by Income 1,24,16,043 21,74,571 Tax authorities being disputed by the Company

2. Estimated amount of contracts remaining to Nil Nil be executed on capital account (net of advances)

3. Outstanding Bank Guarantees 50,85,000 76,85,000

4. Claims against the Company not 82,03,142 82,03,142 acknowledged as debts

2. No provision has been made for the Directors'' fee as the same has been voluntarily surrendered by the Directors.

3. In the opinion of the Board and to the best of their knowledge and belief, the value on realization of current assets, loans and advances in the ordinary course of business will not be less than the amount at which they are stated in the Balance Sheet except as shown doubtful and provision for all known liabilities, expenses and income have been made in the accounts unless stated otherwise in the notes.

4. Certain debtors/creditors are subject to confirmation.

5. On the basis of data compiled by the Company, there are no small scale industrial undertakings to whom the Company owes any sum outstanding for more than 30 days.

6. The Company has taken office premises on cancellable operating lease. Lease Rents charged to Statement of Profit & Loss Rs. 3,142,400 (previous year Rs. 2,542,881). Since the leases are cancellable in nature, other disclosures as required by Accounting Standard AS-19 are not applicable.

7. Disclosure pursuant to Accounting Standard 15 on "Employee Benefits":

Defined contribution plans:

The Company''s employee provident fund scheme is a defined contribution plans. A sum of Rs.367,145 (Previous Year Rs. 284,572) has been recognized as an expense in relation to the scheme and shown under Personnel Expenses in the Statement of Profit and Loss.

Gratuity and compensated absences

Gratuity is payable to all eligible employees of the Company on superannuation, death or permanent disablement, in terms of the provisions of the Payment of Gratuity Act or as per the Company''s Scheme whichever is more beneficial. Compensated absences is payable to all employees of the Company on superannuation, death or permanent disablement as per the Company''s Scheme.

The discount rate is based on the prevailing market yields of Indian government securities as at the balance sheet date for the estimated term of the obligations.

The salary escalation rate is based on estimates of salary increases, which take into account inflation, promotion and other relevant factors.

Economic Assumptions

The principal assumptions are the discount rate & salary growth rate. The discount rate is generally based upon the market yields available on Government bonds at the accounting date with a term that matches that of the liabilities & the salary growth rate takes account of inflation, seniority, promotion and other relevant factors on long term basis. Valuation assumptions are as follows which have been agreed by the company:

8. Related Party Disclosure

a) Disclosure of Related Parties and relationship between parties:-

i. Key Management Personnel : Mr. Harpreet Singh Malhotra : Mrs. Benu Malhotra : Mrs. Surjeet Kaur Malhotra

ii. Associate : Tiger Softech (India) Pvt. Ltd.

: Brahma Suppliers Pvt. Ltd. : Sun Warehousing & Distributions Pvt. Ltd. : Prithvi Shipping Pvt. Ltd. : Raina Transcontinental Ltd. : Yieshu Finance & Investment Pvt. Ltd.

iii. Firms In which Directors are Interested : Tiger Trading Enterprises : Scac Consultants

b) Details of transactions entered into with related parties during the year as required by Accounting Standard (AS)- 18 on "Related Party Disclosures" issued by Companies (Accounting Standards) Rules 2006 are as under:

c) Segment Capital employed

Fixed Assets used in the company''s business or liabilities contracted have not been identified to any of the reportable segments, as the fixed assets and services are used interchangeably between segments. Accordingly, no disclosure relating to individual segment assets and liabilities has been made.

9. Detail of foreign currency exposures that are not hedged by a derivative instrument or otherwise.

10. Previous year figures have also been regrouped/ rearranged, wherever necessary. As per our report of even date attached

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