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Notes to Accounts of Urja Global Ltd.

Mar 31, 2015

1. SHARE CAPITAL

a) Terms/Rights attached to Securities :

1) The Company has only one class of Equity Shares having a par value of Rs.10/- per share. Each holder of Equity Share is entitled to one vote per share.

In the event of liquidation of the Company, the holders of Equity Shares will be entitled to receive remaining assets of the Company after distribution of all preferential amounts. The distribution will be in proportion to the number of Equity shares held by shareholders.

2) Other Notes to Accounts

i. In the opinion of Board of Directors, the aggregate value of Current assets, Loans and Advances are realizable in ordinary course of business and will not be less than the amount at which these are stated in the Balance Sheet.

ii. Deferred Tax Assets for the year of Rs.9023/- as per Accounting Standards 22 on Accounting for Taxes on income pertaining to the timing between the accounting income and the taxable income has been recognized by the management in the Profit & Loss Account.

iii. In the opinion of the company management, the operations of the company are considered as single segment hence AS-17 on Segment reporting issued by the Institute of Chartered Accountants of India is not applicable.

iv. Related Party Disclosure in accordance with Accounting Standards18 issued by the Institute of Chartered Accountants of India are :

a. Contingent Liabilities

b. The Income Tax demand of f 3,68,443/- for the A.Y. 2006-2007 against which the company has filed an appeal with CIT (A) VI, New Delhi.

c. The figures have been rounded off to the nearest thousands of rupees upto two decimal places. Previous year figures have been regrouped/ reclassified wherever necessary to make them comparable with the current year figures.


Mar 31, 2014

I. In the opinion of Board of Directors, the aggregate value of Current assets, Loans and Advances are realisable in ordinary course of business and will not be less than the amount at which these are stated in the balance sheet.

ii. Deferred Tax Liability for the year of Rs. 8439/- as per Accounting Standards 22 on Accounting for Taxes on income pertaining to the timing between the accounting income and the taxable income has been recognized by the management in the Profit & Loss Account.

iii. In the opinion of the company management, the operations of the company are considered as single segment hence AS-17 on Segment reporting issued by the Institute of Chartered Accountants of India is not applicable.

a. Remuneration to Key Management Personnel:

( Rs. In 000''s)

Particulars Designation Remuneration

Mr. Aditya Venketesh Executive Director 25.00

Mr. Vishnu Gupta Executive Director 206.36

Mr. Yogesh Goyal Executive Director 248.20

b. Auditors Remuneration

Payment to auditors (including service tax) comprises of the following:

( Rs. in 000''s)

Particulars Year Ended March Year Ended March 31, 2014 31, 2013

As Statutory Audit Fees 15.00 15.00

As Tax Audit Fees 10.00 10.00

Service Tax 3.09 3.09

Total 28.09 28.09

iv. Foreign Currency Transaction

Foreign currency transactions are recorded at rates of exchange prevailing on the dates of the respective transaction.

( Rs. In 000''s)

Particulars Year Ended March Year Ended March 31st, 2014 31st, 2013

Foreign Currency Expenditure 476.32 NIL

v. Related Party Disclosure in accordance with Accounting Standards 18 issued by the Institute of Chartered Accountants of India are :

vi. Earnings Per Share:

Particulars Year Ended Year Ended March 31st, 2014 March 31st, 2013

Net Profit/(Loss) for the year Rs. 8399090/- Rs. 75,40,350/-

Weighted Number of Equity Shares 5,07,20,600 5,07,20,600

Nominal Value per Share RS. 10 Rs. 10

Earnings Per Share (Basic) 0.17 0.15

vii. Contingent Liabilities

The Income Tax demand of Rs. 3,68,443/- for the A.Y. 2006-2007 against which the company has filed an appeal with CIT (A) VI, New Delhi.

viii. The figures have been rounded off to the nearest thousands of rupees upto two decimal places.

ix. Previous year figures have been regrouped/reclassified wherever necessary to make them comparable with the current year figures.


Mar 31, 2013

I. In the opinion of Board of Directors, the aggregate value of Current assets, Loans and Advances are realisable in ordinary course of business and will not be less than the amount at which these are stated in the balance sheet.

ii. Deferred Tax Liability for the year of Rs.12,290/- as per Accounting Standards 22 on Accounting for Taxes on income pertaining to the timing between the accounting income and the taxable income has been recognized by the management in the Profit & Loss Account.

iii. In the opinion of the company management, the operations of the company are considered as single segment hence AS-17 on Segment reporting issued by the Institute of Chartered Accountants of India is not applicable.

iv. Contingent Liabilities

The Income Tax demand of Rs. 3,68,443/- for the A.Y. 2006-2007 against which the company has filed an appeal with CIT (A) VI, New Delhi.

v. The figures have been rounded off to the nearest thousands of rupees upto two decimal places. The figure 0.00 wherever stated represents value less than Rs. 500/-.

vi. Previous year figures have been regrouped/reclassified wherever necessary to make them comparable with the current year figures.


Mar 31, 2012

I. In the opinion of Board of Directors, the aggregate value of Current assets, Loans and Advances are realizable in ordinary course of business and will not be less than the amount at which these are stated in the balance sheet.

ii. Deferred Tax Liability for the year of Rs. 9121/- as per Accounting Standards 22 on Accounting for Taxes on income pertaining to the timing differences between the accounting income and the taxable income has been recognized by the management in the Profit & Loss Account.

iii. In the opinion of the company management, the operations of the company are considered as single segment hence AS-17 on Segment reporting issued by the Institute of Chartered Accountants of India is not applicable.

iv. Related Party Disclosure in accordance with Accounting Standards 18 issued by the Institute of Chartered Accountants of India:

v. Earnings Per Share

Calculation of Earnings per Share in accordance with the Accounting Standards 20 "Earning Per Share" issued by the Institute of Chartered Accountants of India, considering the weighted number of Equity Shares outstanding during the year:

*Book stock of c coal is considered in the accounts where the variance between book stock and measured stock is upto /- 5% and in case where the variance is beyond / - 5% the measured stock is considered. Such stock are valued at net realizable value or cost whichever is lower.

vi. Contingent Liabilities

The income tax demand of Rs.368443/- for the A.Y. 2006-2007 against which the company has filed an appeal with CIT (A) VI, New Delhi.

vii. Previous year's figures have been regrouped/ rearranged wherever necessary, to confirm to the current period presentation.


Mar 31, 2011

I. In the opinion of Board of Directors, the aggregate value of Current assets, Loans and Advances are realisable in ordinary course of business and will not be less than the amount at which these are stated in the balance sheet.

ii. Deferred Tax Liability for the year of Rs. 11971/- as per Accounting Standards 22 on Accounting for Taxes on income pertaining to the timing differences between the accounting income and the taxable income has been recognized by the management in the Profit & Loss Account.

iii. In the opinion of the company management, the operations of the company are considered as single segment hence AS-17 on Segment reporting issued by the Institute of Chartered Accountants of India is not applicable.

iv. Related Party Disclosure in accordance with Accounting Standards 18 issued by the Institute of Chartered Accountants of India:

v. Earnings Per Share

Calculation of Earnings per Share in accordance with the Accounting Standards 20 "Earning Per Share" issued by the Institute of Chartered Accountants of India, considering the weighted number of Equity Shares outstanding during the year:

viii. Contingent Liabilities

The income tax demand of Rs.368443/- for the A.Y. 2006-2007 against which the company has filed an appeal with CIT (A) VI, New Delhi.

ix. Previous year's figures have been regrouped/ rearranged wherever necessary, to confirm to the current period presentation.

x. Schedule 1 to 10 forms an integral part of accounts and has been duly authenticate.


Mar 31, 2010

I. In the opinion of Board of Directors, the aggregate value of Current assets, Loans and Advances are realisable in ordinary course of business and will not be less than the amount at which these are stated in the balance sheet.

ii. Deferred Tax Liability for the year of Rs. 6892/- as per Accounting Standards 22 on Accounting for Taxes on income pertaining to the timing differences between the accounting income and the taxable income has been recognized by the management in the Profit & Loss Account.

iii. In the opinion of the company management, the operations of the company are considered as single segment hence AS-17 on Segment reporting issued by the Institute of Chartered Accountants of India is not applicable.

iv. Contingent Liabilities

The income tax demand of Rs.368443/- for the A.Y. 2006-2007 against which the company has filed an appeal with CIT (A) VI, New Delhi.

v. Previous years figures have been regrouped/ rearranged wherever necessary, to confirm to the current period presentation.

vi. Schedule 1 to 9 forms an integral part of accounts and has been duly authenticate.


Mar 31, 2009

(i) In In the opinion of Board of Directors, the aggregate value of Current assets, Loans and Advances are realisable in ordinary course of business and will not be less than the amount at which these are stated in the balance sheet.

(ii) Additional information pursuant to part II of Schedule VI to Companies Act 1956, to the extent applicable is as under: -

(i) Foreign Exchange earnings during the year - NIL

(ii) Expenditure in Foreign Currency - NIL

(iii) Segment Reporting:

In the opinion of the company management, the operations of the company are considered as single segment, hence AS-17 on Segment Reporting notified by Central Government is considered not applicable.

(iv) Deferred Tax Assets:

Provision for Deferred Tax Assets under AS-22 has not been recognised by way of prudence as in the opinion of company management there is reasonable uncertainty of future income which may be available for its adjustment.

(v) Figures of the Loans & Advances are shown as per balances confirmed by the Management as the confirmations from the parties are not received.

(vi) During the year the company has changed the Main object of the company, accordingly They have taken Mines on Lease.

(vii) The Company has developed mines during the year in north east part of the country to extract coal and lime stones. The capital Expenditure Incurred towards Development of mines are written off over the lease period.

(viii) Previous year figures have been regrouped and rearranged, wherever found necessary, to conform to the Current years classification.

(ix) Schedule 1 to 8 form an integral part of the balance sheet and profit and loss account.

 
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