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Accounting Policies of Tridev Infraestates Ltd. Company

Mar 31, 2014

I) Basis of Accounting:

The financial statements are prepared under the historical cost convention in accordance with the generally accepted accounting principles in India and the provisions of the Companies Act, 1956 and wherever applicable as per the provisions of the Companies Act, 2013.

ii) Use of Estimates:

The preparation of financial statements requires estimates and assumptions to be made based on the current working that affect the reported amount of assets and liabilities (including contingent liabilities) on the date of financial statements and the reported amount of revenues and expenses for the reporting period. Difference between the actual and the estimates, if any, are accounted for in the period in which such differences are known/materialized.

iii) Investments:

Investments wherever readily realizable and intended to be held not more than one year from the date of such investments are made, are qualified as current investments. Current investments are carried at lower of cost and quoted/fair value, computed category-wise.

Long-term investments are stated at cost. Provision for diminution in the value of long-term investments is made only if such a decline is other than temporary.

iv) Revenue Recognition:

Revenue is recognized only when it can be definitely measured and it is reasonable to expect final collection. Revenue from operations includes sale of goods after adjustment of discounts (net) and return of goods.

v) Provisions and Contingencies

The company creates a provision when there is present obligation as a result of a past event that probably requires an outflow of resources and a reliable estimate can be made of the amount of obligation. A disclosure for a contingent liability is made when there is a possible obligation or a present obligation that probably will not require an outflow of resources or where a reliable estimate of the obligation can not be made.

vi) Retirement Benefits

There is no amount of gratuity liability or leave encashment or any other retirement benefits for which the company may be made liable to pay. Hence no provision for the same has been made as on the date of Balance sheet.

vii) Cash Flow Statement:

a) The Statement Has been prepared under indirect method except in case of dividends, sale/purchase of investments and taxes which have been considered on the basis of actual movement of case, with corresponding adjustment in assets and liabilities as set out in the Accounting Standard- 3 issued by ICAI.

b) Cash and cash equivalents represent cash and bank balances only

viii) Segment Reporting

The Companies core activity is to investment, sale/purchases of Shares. This is the only business segment as per Accounting Standard-17 issued by the Institute of Chartered Accountants of India.

ix) Contingent Liabilities

As certified by the management there is no Contingent liability as on 31/03/2014.

x) Previous years'' figures have been regrouped, rearranged and restated wherever considered necessary to make them comparable with the current year''s figures.

xi) In the opinion of the Board of Directors and to the best of their knowledge and belief the realizable value of Current Assets, Loans and Advances in ordinary course of business is not less than the value stated in the Balance Sheet.

xii) Earning Per Share (EPS)

Basic earning per share is calculated by dividing the net Profit for the year attributable to equity shareholders by the weighted average number of equity shares outstanding during the year.

Diluted earning per share is calculated by dividing the net profit attributable to equity shareholders by weighted average number of equity shares outstanding during the year after adjusting for the effects of dilutive options.

Profit computation for both Basic and Diluted earnings per share of Rs. 10/- each.

xiii) Due to Small Scale Undertakings exceeding Rs. 1.00 lakh overdue for more than 30days - Nil

xiv) The additional Information pursuant to revised Schedule VI to the Companies Act, 1956 are either Nil or Not Applicable.


Mar 31, 2013

I) Revenue Recognition

The Company recognizes revenue on an accrual basis.

ii) Provisions and Contingencies

The company creates a provision when there is present obligation as a result of a past event that probably requires an outflow of resources and a reliable estimate can be made of the amount of obligation. A disclosure for a contingent liability is made when there is a possible obligation or a present obligation that probably will not require an outflow of resources or where a reliable estimate of the obligation can not be made.

iii) Retirement Benefits

There is no amount of gratuity liability or leave encashment or any other retirement benefits for which the company may be made liable to pay. Hence no provision for the same has been made as on the date of Balance sheet.


Mar 31, 2012

These financial statements are prepared on accrual basis and under historical cost convention and in accordance with the Accounting Standards issued by the Institute of Chartered Accountants of India. The significant accounting policies adopted by the company are detailed below:

i) Revenue Recognition

The Company recognizes revenue on an accrual basis.

ii) Provisions and Contingencies

The company creates a provision when there is present obligation as a result of a past event that probably requires an outflow of resources and a reliable estimate can be made of the amount of obligation. A disclosure for a contingent liability is made when there is a possible obligation or a present obligation that probably will not require an outflow of resources or where a reliable estimate of the obligation can not be made.

iii) Retirement Benefits

There is no amount of gratuity liability or leave encashment or any other retirement benefits for which the company may be made liable to pay. Hence no provision for the same has been made as on the date of Balance sheet.


Mar 31, 2010

These financial statements are prepared on accrual basis and under historical cost convention and in accordance with the Accounting Standards issued by the Institute of Chartered Accountants of India. The significant accounting policies adopted by the company are detailed below:

i) Revenue Recognition

The Company recognizes revenue on an accrual basis.

ii) Provisions and Contingencies

The company creates a provision when there is present obligation as a result of a past event that probably requires an outflow of resources and a reliable estimate can be made of the amount of obligation. A disclosure for a contingent liability is made when there is a possible obligation or a present obligation that probably will not require an outflow of resources or where a reliable estimate of the obligation can not be made.

iii) Retirement Benefits

There is no amount of gratuity liability or leave encashment or any other retirement benefits for which the company may be made liable to pay. Hence no provision for the same has been made as on the date of Balance sheet.

2. Cash Flow Statement:

a) The Statement Has been prepared under indirect method except in case of dividends, sale/purchase of investments and taxes which have been considered on the basis of actual movement of case, with corresponding adjustment in assets and liabilities as set out in the Accounting Standard- 3 issued by ICAI.

b) Cash and cash equivalents represent cash and bank balances only

3. Segment Reporting

The Companies core activity is to investment, sale/purchases of Shares. This is the only business segment as per Accounting Standard-17 issued by the Institute of Chartered Accountants of India.


Mar 31, 2008

Not Available


Mar 31, 1997

1. SIGNIFICANT ACCOUNTING POLICIES

i) Basis of accounting

a) The Company prepares its accounts on accrual basis, except otherwise stated, in accordance with the normally accepted accounting principles.

b) Revenue from sale of goods is recognised upto passage of title to the customers which generally coincides with delivery.

c) No provision for gratuity has been made as no employee has put in the qualifying period of service for the entitlement of this benefit.

ii) Fixed Assets

a) Fixed Assets are stated at cost of acquisition inclusive of duties, incidental expenses, erection / commissioning / trial run expenses and interest, etc. upto the date the assets are put to use. Expenses (including interest) on major expansion/modernisation programme are capitalised.

b) Based on an independent valuation report issued by an approved valuer, the land, building & machinery of the Company situated at Sikandrabad were revalued as on 31st Dec., 1994 at their fair market value and the resultant surplus of Rs. 1,38,65,621/- on such valuation over the written down value of the assets was credited to Fixed Assets Revaluation Reserve.

iii) Depreciation

a) Depreciation on Fixed Assets has been provided on Straight Line Method on the basis of life of respective assets computed at the rates specified in Schedule XIV of the Companies Act, 1956 (as amended).

b) Depreciation on Fixed Assets added/dispossed off during the year is provided on pro-rata basis with reference to the date of addition/disposal. However, no depreciation has been provided on the Plant & Machinery procured during the year for the purpose of diversification project.

c) Depreciation amounting to Rs. 556111/- on Building and Plant & Machinery has been adjusted in Fixed Assets Revaluation Reserve.

iv) Inventories

a) Inventories of raw material, coal chemicals and packing materials are valued at cost.

b) Inventories of goods under process and consumables are valued at estimated value.

c) Finished goods are valued at lower of cost or market value.

v) Preliminary and Public Issue expenses will be written off over a period of ten years.

 
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