Mar 31, 2014
1. Contingent Liabilities There is no contingent liability.
2. The number of employees throughout the year or any part entitled
to receive emoluments in aggregate amounting to Rs. 5,00,000/- or more
per month or Rs. 60,00,000/- or more during the year : Nil (Previous
year : Nil).
3 In the Opinion of the Management the current asset, shown in the
Balance Sheet have a value of realization in the ordinary course of the
business at least equal to the amount at which they are stated.
4. No provision for Taxation has been made, because of brought
forward unabsorbed depreciation / business losses and no provision for
MAT has made because of negative book profit after adjusting unabsorbed
depreciation/ brought forward business losses.
5. Depreciation on fixed assets has been provided on pro rata basis
under straight line, method and as per the relevant rates mentioned in
the Companies Act, 1956
6. The board of Directors has not recommended any dividend due to
losses. Therefore no provision for dividend has been made.
7. The current assets are considered good as certified by the
management.
8. Deferred Tax Liabilities / Assets There is no virtual certainty of
there being sufficient profits available in future to account for
deferred tax assets.
9. Related Parties Disclosure: Mr. Devinder Kumar Jain & PAC is
related to following parties as required by AS-18:- Trinity Global
Enterprises Limited Promoter / Director Trinity Industries Limited
Promoter / Director M M Carpets & Industries Limited Promoter /
Director Trinity Insurance Brokers Pvt. Ltd. Promoter / Director
10. Previous year figures have been regrouped and rearranged wherever
considered necessary.
Mar 31, 2013
1. Contingent Liabilities There is no contingent liability.
2. The number of employees throughout the year or any part entitled
to receive emoluments in aggregate amounting to Rs. 5,00,000/- or more
per month or Rs. 60,00,000/- or more during the year : Nil (Previous
year : Nil).
3 In the Opinion of the Management the current asset, shown in the
Balance Sheet have a value of realization in the ordinary course of the
business at least equal to the amount at which they are stated.
4. No provision for Taxation has been made, because of brought
forward unabsorbed depreciation / business losses and no provision for
MAT has made because of negative book profit after adjusting unabsorbed
depreciation/ brought forward business losses.
5. Depreciation on fixed assets has been provided on pro rata basis
under straight line, method and as per the relevant rates mentioned in
the Companies Act, 1956.
6. The board of Directors has not recommended any dividend due to
losses. Therefore no provision for dividend has been made.
7. The current assets are considered good as certified by the
management.
8. Balance confirmation in respect of balance appearing under the
head Current Assets and Current Liabilities subject to confirmation.
9. Deferred Tax Liabilities / Assets
There is no virtual certainty of there being sufficient profits
available in future to account for deferred tax assets.
10. Related Parties Disclosure:
Mr. Devinder Kumar Jain & PAC is related to following parties as
required by AS-18:- Trinity Global Enterprises Limited Promoter /
Director Trinity Industries Limited Promoter / Director M M Carpets &
Industries Limited Promoter / Director Trinity Insurance Brokers Pvt.
Ltd. Promoter / Director
11. Previous year figures have been regrouped and rearranged wherever
considered necessary.
Mar 31, 2012
1. Contingent Liabilities There is no contingent liability.
2. The number of employees throughout the year or any part entitled
to receive emoluments in aggregate amounting to Rs. 5,00,000/- or more
per month or Rs. 60,00,000/- or more during the year: Nil (Previous
year: Nil).
3. In the Opinion of the Management the current asset, shown in the
Balance Sheet have a value of realization in the ordinary course of the
business at least equal to the amount at which they are stated.
4. No provision for Taxation has been made, because of brought
forward unabsorbed depreciation / business losses and no provision for
MAT has made because of negative book profit after adjusting unabsorbed
depreciation/ brought forward business losses.
5. Depreciation on fixed assets has been provided on pro rata basis
under straight line, method and as per the relevant rates mentioned in
the CompaniesAct, 1956
6. The board of Directors has not recommended any dividend due to
losses. Therefore no provision for dividend has been made.
7. The current assets are considered good as certified by the
management.
8. Balance confirmation in respect of balance appearing under the
head Current Assets and Current Liabilities subject to confirmation.
9. Segment Report
The company has identified three reportable segments viz. Homeopathic
medicines, Building material and Advisory services. The accounting
policies adopted for segment reporting are in line with the accounting
policy of the company with following additional policies for segment
revenue and expenses:
Revenue and expenses have been identified to a segment on the basis of
relationship to operating activities of the segment. Revenue and
expenses which relate to enterprise as a whole and are not allocable to
a segment on reasonable basis have been disclosed as "Unallocable".
10 Previous year figures have been regrouped and rearranged wherever
considered necessary.
Jun 30, 2010
1. Contingent Liabilities
In the absence of the adequate records, contingent liabilities on the
company is not ascertainable.
2. The number of employees throughout the year or any part entitled to
receive emoluments in aggregate amounting to Rs. 2,00,0007- or more per
month or Rs. 2400,000/- or more during the year: Nil (Previous year:
Nil).
3. In the Opinion of the Management the current asset, shown in the
Balance Sheet have a value of realization in the ordinary course of the
business at least equal to the amount at which they are stated.
4. Estimated amount of contracts remaining to be executed on capital
account and not provided for Nil
5. Previous year figures have been regrouped and rearranged wherever
considered necessary. The figures for Current Accounting Year is 15
Months instead of 12 Months.
6. No provision for Taxation in terms of section 115 JA of IT. Act has
during the year under consideration, because of book losses.
7. The company had availed loans from Dena Bank & SIDBI for its
working capital requirement. The Company could not meet its obligation
for repayment & servicing of interest. Consequently these loans have
been categorized as NPA by the Dena Bank & SIDBI and no interest is
being levied on the loan A/c. In view of the same no interest has been
provided in the financial accounts in respect of loan taken from SIDBI
and DENA .During the year ended 30.06..2010 Company has made one time
settlement with SIDBI and DENA Bank and paid the whole amount due to
which Rs. 20165308 arise which has been accounted for in other income
head of profit and loss account out of above Rs. 7471799 arise because
of remission of principal and remaining because of interest.
8. During current financial year Company has written off some fixed
assets.
9. The board of Directors has not recommended any dividend due to
losses. Therefore no provision for dividend has been made.
10. Depreciation is provided on straight-line method basis applying
the rates specified under chapter XIV of the Companies Act 1956.
11. The current assets, are considered good as certified by the
management.
12. Balance confirmation in respect of balance appearing under the
head Current Assets and Current Liabilities subject to confirmation.
13. The Company has sent letter of balance confirmation to all parties
but only a few have responded so far, so the balance in the party
accounts whether in debit or credit are subject to reconciliation.
14. Pursuant to the amendment to schedule VI of the Company Act, 1956
in March, 1999 regarding disclosure of amount due to creditors which
are small scale industries (SSI) the Company has not yet collected the
information from creditors regarding their SSI status which is still in
progress. Therefore the compilation of break-up of the sundry creditors
between SSIs and others could not be made.
15. The Loans and advances amounting to Rs. 1986554 are not
recoverable so has been written off during the year.
16. Deferred Tax Liabilities / Assets
There is no virtual certainty of there being sufficient profits
available in future to account for deferred tax assets.
17. Related Parties Disclosure
i.The list of related parties pursuant to AS-18 (Related Parties
Disclosure) Issued by The Institute of Chartered Accountants of India
is given here below:
Dr. Gurmeet S. Dhingra (Chairman & Managing Director)
Mrs. Renu Dhingra (Director)
ii. Transaction with related parties:
18. Segment Report
A Business Segment is a distinguishable component of an enterprise that
is engaged in providing an individual product or service or a group of
related products or services and that is subject to risks and returns
that are different from those of other business segments.
A Geographical Segment is a distinguishable component of an enterprise
that is engaged in providing products or services within a particular
economic environment and that is subject to risks and returns that are
different from those of components operating in other economic
environments.
Our company does not fall under any of these segments as mentioned
above. Therefore, this Accounting Standard is not applicable in this
case.
19. Schedule and Notes referred to above, form an integral part of the
accounts and have been duly authenticated.
20. Schedule 1 to 20 forms an integral part of Balance Sheet, Profit &
Loss Account and has been duly authenticated.
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