Mar 31, 2014
Rights, Preferences and Restrictions attached to Equity Shares.
The Company''s equity shares have a face value of Rs 10 per share. Each
equity shareholder is entitled to one vote per share. The dividend
proposed by the Board of Directors is subject to the approval of the
shareholders in the ensuing Annual General Meeting.
In the event of liquidation, the equity shareholders are eligible to
receive the assets of the Company remaining after distribution of all
preferential amounts, in Proportion to their shareholding.
1 Segment Reporting
Since the company is holding Investments and that other activities are
incidental thereto, in the opinion of the management there are no
separate reportable segment. Accordingly AS-17 notified under the
Companies (Accounting Standards) Rules, 2006 in respect of segment
reporting is not applicable to the company.
2 Related Party
As per Accounting Standard 18 " Related Party Disclosure" as notified
under the Companies (Accounting Standards) Rules, 2006, the disclosures
of the related parties are given below:-
3 In view of Pending scrutiny/appeals, the interest on Income Tax
Refund has not been recognised as income.
4 In view of uncertainty of the future taxable income which will set
off the brought forward loss, no deferred tax assets has been created
in terms of Accounting Standard (AS) 22- Accounting for Taxes on income
as notified under the Companies (Accounting Standards) Rules, 2006.
5 The Income Tax assessments of the Company have been completed up to
4he Assessment year 2011-2012 The disputed demand up to the said
Assessment year is Rs Nil. Based on the decision of the Appellate
authorities and interpretation of the relevant provisions, the company
has been advised that the no provision for tax is required.
6 The Previous year figures have been regrouped/reclassifiecL wherever
necssary to conform to the current year presentation
Mar 31, 2013
1 Segment Reporting
Since the company is holding Investments and that other activities are
incidental thereto, in the opinion of the management there are no
separate reportable segment. Accordingly AS-17 notified under the
Companies (Accounting Standards) Rules, 2006 in respect of segment
reporting is not applicable to the company.
2 In view of Pending scrutiny/appeals, the interest on Income Tax
Refund has not been recognised as income.
3 In view of uncertainty of the future taxable income which will set
off the brought forward loss, no deferred tax assets has been created
in tenns of Accounting Standard (AS) 22- Accounting for Taxes on income
as notified under the Companies (Accounting Standards) Rules, 2006.
4 The Income Tax assessments of the Company have been completed up to
the Assessment year 2010-2011 The disputed demand up to the said
Assessment year is Rs. Nil. Based on the decision of the Appellate
authorities and interpretation of the relevant provisions, the company
has been advised that the no provision for tax is required.
Mar 31, 2012
1.1.1 Rights, Preferences and Restrictions attached to Equity Shares.
The Company's equity shares have a face value of Rs. 10 per share. Each
equity shareholder is entitled to one vote per share. The dividend
proposed by the Board of Directors is subject to the approval of the
shareholders in the ensuing Annual General Meeting.
In the event of liquidation, the equity shareholders are eligible to
receive the assets of the Company remaining after distribution of all
preferential amounts, in Proportion to their shareholding.
1.2 TRADE PAYABLE
@ Based on the available information with the Company/intimation
received/from the vendors regarding their status under the Micro, Small
and Medium Enterprises Development Act, 2006, amounts unpaid as at year
end/interest paid during the year/payble at the year end to such
Enterprises under this Act is Nil.
1.3 The revised schedule VI notified under the Companies Act 1956 has
become applicable to the company during the current year. The previous
year figures have been reworked, regrouped, rearranged and
reclassified, wherever necessary, to conform to revised schedule VI
classification and are to be read in relation to the amounts and other
disclosures relating to the current year.
1.4 Segment Reporting
Since the company is holding Investments and that other activities are
incidental thereto, in the opinion of the management there are no
separate reportable segment. Accordingly AS-17 notified under the
Companies (Accounting Standards) Rules, 2006 in respect of segment
reporting is not applicable to the company.
1.5 In view of Pending scrutiny/appeals, the interest on Income Tax
Refund has not been recognised as income.
1.6 In view of uncertainty of the nature taxable income which will set
off the brought forward loss, no deferred tax assets has been created
in terms of Accounting Standard (AS) 22- Accounting for Taxes on income
as notified under the Companies (Accounting Standards) Rules, 2006.
1.7 The Income Tax assessments of the Company have been completed up
to the Assessment year 2009-2010 The disputed demand up to the said
Assessment year is Rs. 2430. Based on the decision of the Appellate
authorities and interpretation of the relevant provisions, the company
has been advised that the no provision for tax is required.
Mar 31, 2010
1. Segment Reporting :
Since the company is holding Investments and that other activities are
incidental thereto, in the opinion of the management there are no
separate reportable segment. Accordingly AS-17 notified under the
Companies (Accounting Standards) Rules, 2006 in respect of segment
reporting is not applicable to the company.
2. Related Party Disclosures :-
a) Key Management Personnel
U.C.DAMANI - Director
H.M.VORA - Director
J.H.DALIA - Director
b) Transactions with Related Parties - Director Sitting Fees Paid
Rs.5400/-
3. In view of uncertainty of the future taxable income which will set
off the brought forward loss, no deferred tax assets has been created
in terms of Accounting Standard (AS) 22- Accounting for Taxes on income
as notified under the Companies (Accounting Standards) Rules, 2006.
4. The Income Tax assessments of the Company have been completed up to
the Assessment year 2007- 2008 The disputed demand up to the said
Assessment year is Rs.2.43 thousands. Based on the decision of the
Appellate authorities and interpretation of the relevant provisions,
the company has been advised that the no provision for tax is required.
5. In view of Pending scrutiny/appeals, the interest on Income Tax
Refund has not been recognised as income.
6. Previous years figures are reworked, regrouped, rearranged and
reclassified wherever necessary.
7. In the opinion of the Board, the Current Assets and Loans and
Advances are approximately of the value stated if realised in the
ordinary course of business. The provision of all known liabilities is
adequate and neither in excess of nor short of amount reasonably
necessary.
8. As no manufacturing activities were carried out during the year
ended on 31st March,2010 information in respect of manufacturing
activities required under para 3 & 4 of part II of schedule VI of the
Companies Act, 1956 is not given.