Mar 31, 2015
1. Share options granted under the Employee Share Option Sche me .
The Company has not granted stock options to its employees under
Employee Stock Option Scheme during the year under audit.
2. Detail of shares allotted without payment being received in cash
during five years im mediately preceding the Balance Sheet date are
given below.
3. The Company has not allotted any fully paid up equity shares without
payment being received in cash and by way of bonus shares nor has bought
back any class of equity shares during the period of five years
immediately preceding the balance sheet date.
4 Disclosure required by Accounting Standard (AS) 15 (Revised) on
Employee Benefits :
The Company has not made any provision towards Employee Benefits during
the financial year 2014-1 5 and hence there are no details to be
disclosed as per Accounting Standard (AS) 15 on Employee Benefits .
However the Company accounts for these benefits on payment basis as and
when the payment is made to the employees.
5 Disclosures of Provisions required by Accounting Standards (AS) 29 on
Provisions, Contingent Liabilities and Contingent Assets :
The Company has been advised that Income Tax Demand for assessment year
2001-02 is likely to be either deleted or substantially reduced.
Accordingly, in the opinion of the management there are no provisions
for which disclosure is required during the financial year 2014-15 as
per Accounting Standard (AS 29) on "Provisions, Contingent Liabilities
and Contingent Assets".
6 Contingent Liabilities and Commitments
The Company has filed an appeal with ITAT New Delhi against income tax
demand
of Rs. 24,32,956/- for A.Y 2001-02 which is pendig. In the opinion of
the
mangement, there are no other contingent liabilities and capital
commitments which needs to be disclosed in the financial statements.
7 Gain or loss on foreign currency transaction and translation:
The Company has not made any foreign currency transactions during the
financial year 2014-15.
8. Segment Reporting
A. Primary Segment Reporting (by Business Segment):
(a) The Company has two reportable segments viz. Sale & Purchase of
Shares (Tra ding and Investment) and Financing business (Granting of
unsecured loans), which have been identified in line 'with the
Accounting Standard 1 7 on Segment Reporting, taking into account the
organizational structure as 'well as differential risk and
return of these segments.
(b) The details of the Purchase, Sales and other information from
operations by reportable business segments are as foll o'wsi
B. Secondary Seg ment Reporting (by Geographical dem arcation).
(a) The Company is running its all the businesses from single place and
the expenditure in total are of the nature of indi rect expenses h ich
are not attributable to a ny particular business. The Company has made a
profit of Rs.70,000/- on shares sold out of investments which has been
credited to Profit & Loss Account. However dealing in shares as
investments has not been treated as a separate business.
9 Related Party Disclosures
A. List of Related Parties
i. Associate
(a) Titan Biotech Limited
ii. Related Parties
(a) Tanita Leasing & Finance Limited
(b) Connoisseur Managem ent Services Private Ltd.
(c) Tee Eer Securities& Financial Services Private Limited
(d) Peptech Biosciences Ltd
iii. Key Managerial Personnel.
(a) Ms . Manju Singla (M anaging Director)
(b) Mr. Ravinder Singh Kataria (CS)
(c) Mr.Rajiv Goel, (CFO)
10.The Company has been advised that the computation of net profit for
the purpose of Director s Remuneration under section 197 of the
Companies Act, 2013 need not be enumerated since no commission has been
paid to the Directors. The Company has paid fixed monthly remuneration
to the Director as per Companies (Appointment and Remuneration of
Managerial Personnel ) Rules 2014.
11. For the year ended 31st March, 2015, the Board of Directors of the
Company have not recommended any dividend for the shareholders of the
company.
12. In the opinion of the management, the current assets, loans and
advances are expected to realize at least the amount at which they are
stated, if realized in the ordinary course of business and provision for
all known liabilities have been adequately madein the books of accounts.
13. The previous figure have been reclassified/ rearranged / regrouped
to correspond with current year figures.
Mar 31, 2014
1. Disclosure required by Accounting Standard (AS) 15 (Revised) on
"Employee Benefits":
The Company has not made any provision towards Employee Benefits during
the financial year 2013-14 and hence there are no details to be
disclosed as per Accounting Standard (AS) 15 on "Employee Benefits".
However the Company accounts for these benefits on payment basis as and
when the payment is made to the employees.
2. Disclosures of Provisions required by Accounting Standards (AS) 29
on "Provisions, Contingent Liabilities and Contingent Assets":
In the opinion of the Management , there are no provisions for which
disclosure is required during the financial year 2013-14 as per
Accounting Standard (AS) 29 on "Provisions, Contingent Liabilities and
Contingent Assets".
3. Contingent Liabilities and Commitments
In the opinion of the Management , there are no contingent liabilities
and capital commitments which needs to be disclosed in the financial
statements.
4. Gain or loss on foreign currency transaction and translation:
There is no gain or loss on account of foreign currency transactions
during the financial year 2013-14 due to exchange price fluctuation.
5. SEGMENT REPORTING
A. Primary Segment Reporting (by Business Segment):
(a). The Company has two reportable segments viz. Sale & Purchase of
Shares (Trading and Investment) and Financing business (Granting of
unsecured loans), which have been identified in line with the
Accounting Standard 17 on Segment Reporting, taking into account the
organizational structure as well as differential risk and return of
these segments.
B. Secondary Segment Reporting (by Geographical demarcation):
(a). The Company is running its all the businesses from single place
and the expenditure in total are of the nature of indirect expenses
which are not attributable to any particular business. The Company has
made a profit of Rs.529800/- on shares sold out of investments which
has been credited to Profit & Loss Account. However dealing in shares
as investments has not been treated as a separate business.
6. Related Party Disclosures:
A. List of Related Parties: i. Associates:
(a) Titan Biotech Limited
(b) Tanita Leasing & Finance Limited
(c) Connoisseur Management Services Private Limited
(d) Tee Eer Securities & Financial Services Private Limited
(e) Peptech Biosciences Ltd.
ii. Key Managerial Personnel:
(a) Ms. Manju Singla (Managing Director)
(b) Mr. Naresh Kumar Singla (Director)
The Company has been advised that the computation of net profit for the
purpose of Director''s Remuneration under section 349 of the Companies
Act, 1956 need not be enumerated since no commission has been paid to
the Directors. The Company has paid fixed monthly remuneration to the
Director as per Schedule XIII to the Companies Act, 1956.
7. For the year ended 31st March, 2014, the Board of Directors of the
Company have not recommended any dividend for the shareholders of the
company.
8. In the opinion of the management, the current assets, loans and
advances are expected to realize at least the amount at which they are
stated, if realized in the ordinary course of business and provision
for all known liabilities have been adequately made in the books of
accounts.
9. The Company has prepared these financial statements as per the
format prescribed by Revised Schedule VI to the Companies Act, 1956
issued by Ministry of Corporate affairs.
10. The previous figure has been reclassified / rearranged / regrouped
in compliance of Revised Schedule VI to correspond with current year
figures.
Notes :
1. The Cash Flow Statement has been prepared under the indirect method
as set out in Accounting Standard (AS) 3 "Cash flow Statement" as
specified in the Companies (Accounting Standard) Rule 2006.
2. Figures have been regrouped/ rearranged wherever necessary.
Mar 31, 2013
1. Disclosure required by Accounting Standard (AS) 15 (Revised) on
"Employee Benefits":
The Company has not made any provision towards Employee Benefits during
the financial year 2012-13 and hence there are no details to be
disclosed as per Accounting Standard (AS) 15 on "Employee Benefits".
However the Company acoounts for these benefits on payment basis as and
when the payment is made to the employees.
2. Disclosures of Provisions required by Accounting Standards (AS) 29
on "Provisions, Contingent Liabilities and Contingent Assets":
In the opinion of the Management, there are no provisions for which
disclosure is required during the financial year 2012-13 as per
Accounting Standard (AS) 29 on "Provisions, Contingent Liabilities and
Contingent Assets".
3. Contingent Liabilities and Commitments
In the opinion of the Management, there are no contingent liabilities
and capital commitments which needs to be disclosed in the financial
statements.
4. Gain or loss on foreign currency transaction and translation:
There is no gain or loss on account of foreign currency transactions
during financial year 2012-13 due to exchange price fluctuation.
5. SEGMENT REPORTING
A. Primary Segment Reporting (by Business Segment):
(a). The Company has three reportable segments viz. Sale & Purchase of
Shares (Trading and Investment), Financing business (Granting of
unsecured loans), Trading of Goods (Plasic Goods, Iron sheets etc.)
which have been identified in line with the Accounting Standard T7 on
Segment Reporting, taking into account the organizational structure as
well as differential risk and return of these segments.
(b). The details of the Purchase, Sales and other information from
operations by reportable business segments are as follows:
B. Secondary Segment Reporting (by Geographical demarcation):
(a). The Company is running its all the three businesses from single
place and the expenditure in total are of the nature of indirect
expenses which are not attributable to any particular business. The
Company has made a profit of Rs. 1,83,339/- on shares sold out of
investments which has been credited to Profit & Loss Account. However
dealing in shares as investments has not been treated as a separate
business.
6. Information related to Micro, Small and Medium Enterprises : The
Company has not received information from vendors regarding their
status under the Micro,Small and Medium Enterprises Development act,
2006 and hence, disclosures relating to amounts unpaid as at the year
end together with interest paid/payable under this Act has not been
given.
7. Disclosure relating to amount outstanding at year end and maximum
outstanding during the year of loans and advances, required as per
clause 32 of the Listing Agreement, are given below.:
8. Related Party Disclosures:
A. List of Related Parties: i. Associates:
(a) Titan Biotech Limited
(b) Tanita Leasing & Finance Limited
(c) Connoisseur Management Services Private Limited
(d) Tee Eer Securities & Financial Services Private Limited
(e) Peptech Biosciences Ltd.
ii. Key Managerial Personnel:
(a) Ms. Manju Singla (Managing Director)
(b) Mr. Naresh Kumar Singla (Director)
9. For the year ended 31st March, 2013, the Board of Directors of the
Company have not recommended any dividend for the shareholders of the
company.
10. Additional information pursuant to paragraphs 5 (viii) of Part II
of Schedule VI to the Companies Act, 1956 are follows:
11. In the opinion of the management the current assets, loans and
advances are expected to realize at least the amount at which they are
stated if realized in the ordinary course of business and provision for
all known liabilities have been adequately made in the books of
accounts.
12. The Company has prepared these financial statements as per the
format prescribed by Revised Schedule VI to the Companies Act, 1956
issued by Ministry of Corporate affairs.
13. The previous figure has been reclassified/rearranged/regrouped in
compliance of Revised Schedule VI to correnpond with current year
figures
Mar 31, 2012
A. Share options granted under the Employee Share Option Scheme:
The Company has not granted stock options to its employees under
Employee Stock Option Scheme during the year under audit.
B. Detail of shares allotted without payment being received in cash
during five years immediately preceding the Balance Sheet date are
given below:
The Company has not allotted any fully paid up equity shares without
payment being received in cash and by way of bonus shares nor has
bought back any class of equity shares during the period of five years
immediately preceding the balance sheet date.
C. Although the book/market value of certain investments (amount not
ascertained) is lower than cost, considering the strategic and long
term nature of the investments and asset base of the investee
companies, in the opinion of the management such decline is temporary
in nature and no provision is necessary for the same.
1. Discontinuing Operations
The Company has nut discontinued any operation during the year under
audit Hence there are no detail which need to be disclosed as required
by AS 24.
2 Disclosure required by Accounting Standard (AS) 15 (Revised) on
"Employee Benefits":
The Company has not made any provision towards Fmployee Benefits during
the financial year 2011-12 and hence there are no details to be
disclosed as per Accounting Standard (AS) 15 on "Employee Benefits".
However the Company accounts for these benefits on payment basis as and
when the payment is made to the employees.
3. Disclosures of Provisions required by Accounting Standards (AS) 29
on "Provisions, Contingent Liabilities and Contingent Assets":
In the opinion of the Management , there are no provisions for which
disclosure is required during the financial year 2011-12 as per
Accounting Standard (AS) 29 on "Provisions, Contingent Liabilities and
Contingent Assets".
4. Contingent Liabilities and Commitments
In the opinion of the Management , there are no contingent liabilities
and capital commitments which needs to be disclosed in the financial
statements.
5. Gain or loss on foreign currency transaction and translation:
The Company has made a gain of Rs.69,940/- on account of foreign
currency transactions during the financial year 2011-12 due to exchange
price fluctuation.
A. Secondary Segment Reporting (by Geographical demarcation):
(a). The Company is running its all the three businesses from single
place and the expenditure in total are of the nature of indirect
expenses which are not attributable to any particular business. The
Company has made a profit of Rs.2,40,164/- on shares sold out of
investments which has been credited to R.rofi|:& Loss Account. However
dealing in shares as investments has not been treated as a separate
business.
6. Information related to Micro. Small and Medium Enterprises :
TheComparty has not received information from vendors regarding their
status under the Micro,Small and Medium Enterprises Development act,
2006 and hence, disclosures relating to amounts unpaid as at the year
end together with interest paid / payable under this Act has not been
given.
7. For the year ended 31st March, 2012, the Board of Directors of the
Company have not recommended any dividend for the shareholders of the
company.
8. The accounts of Sundry Debtors and Creditors are subject to
confirmation / reconciliation and adjustment, if any. The Management
does not expect any material difference affecting the current years The
Management, does 8# expect any material difference affecting the
current, year''s financial statements.
In the opinion of the tuanagement, the current assets, loans and
advances are expected to realize at least the amount at which tjhey are
stated, if realized in the ordinary course of business and provision
for all known liabilities have been adequately made in the books of
accounts.
9. The Company tias prepared these financial statements as per the
format prescribed by Revised Schedule VI to the Companies Act: 1956
issued by Ministry of Corporate affairs.
10. The previous figure has been reclassified/ rearranged / regrouped
in compliance of Revised Schedule VI to correnpond with current year
figures
Mar 31, 2010
(1) Contingent Liabilities: In our opinion there are no contingent
liabilities
(2) Capital Expenditure: There are no capital commitments on account of
purchase of Fixed Assets.
(3) Loans & Advances: All loans given by the company in due course of
its financing business have a value realization in ordinary course of
business at least equal to the amount at which these are stated in
Balance sheet, though, in some of the cases interest accrued, debited
in loan accounts is not received for a period of more than one year. As
explained by the Management, all the loans including accrued interest
are good and none of the Loans have been classified as bad/ doubtful.
(4) EPS: In view of profit figure being very small no EPS on Equity
before and after dilution has been computed.
(5) Deferred Tax: There are timing difference on account of difference
in rates of depreciation as per Income Tax Act 1961 & rates provided as
per Companies Act 1956 on which deferred tax calculations as per AS-22
issued by ICAI has been calculated.
(6) Investments: Investments are valued at cost and are treated long
term Investments, however some of these are sold in short duration.
Disposal of Investments during the year has resulted in profit of Rs.
60960/- which has been credited to Profit & Loss Account.
(7) Derivatives: There are no derivative transactions entered into by
the company during the year under Audit.
(8) Secured Loans: The company has not taken any secured loans except
loan for purchase of car, for which the car is hypothecated to the
Bank.
(9) Segment Reporting: Company deals in only purchase and Sale of
Securities
(10) Schedule A to H form an integral part of the accounts for the year
ended 31st March, 2010.
Mar 31, 2009
1. There are no capital commitments on account of purchase of Fixed
Assets.
2. In the opinion of the management all the Current Assets, Loans &
Advances, have a value on realization in the ordinary course of
business at least equal to the amount at which they are stated.
3. In view of profit figure being very small no EPS on Equity before
and after and after dilution has been computed.
4. Defered Tax
There are timing difference on account of difference in rates of
depreciation as per Income Tax Act 1961 & rates provided as per
Companies Act 1956 on which deferred tax calculations as per AS-22
issued by ICAI has been calculated.
5. Schedule A to H form an integral part of the accounts for the year
ended 31aMarch, 2009.
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