Mar 31, 2015
1. Contingent Liabilities
There are no contingent liabilities.
2. Related Party Disclosures
As per Accounting Standard 18, the disclosures of transactions with the
related parties are given below:
Details of related parties:
Description of relationship Names of related parties
Enterprise in which KMP/ Relatives of KMP can exercise Arodyne
Chemicals Ltd. significant influence Aum Financial Consultants
Avd hoot Finance & Investment Pvt. Ltd.
Bahl & Co. Pvt. Ltd.
Desai Industrial Finance Pvt. Ltd.
J R Shroff HUF
Som Holding & Trading Co. Pvt. Ltd.
Key Management Personnel (KMP) Mr. Pradeep R. Shroff
Mr. Manoj T. Shroff
3. In the opinion of Board of Directors all assets other than
non-current investments, have a realizable value in the ordinary course
of business which is not different from the amount at which it is
stated and the provisions for all known liabilities are adequate and
not in excess of the amounts reasonably necessary.
4. No personal expenses have been debited to Profit and Loss Account
except those payable under contractual obligation or normal business
practices.
5. Segment Reporting
The Company has only one segment i.e. Merchant Banking and financial
services, therefore segment wise reporting has not been given as
required by Accounting Standard 17.
6. Previous year's figures
Previous year's figures have been regrouped / reclassified wherever
necessary to correspond with the current year's classification /
disclosure.
Mar 31, 2014
CORPORATE INFORMATION
The Company is registered with Securities and Exchange Board of India
as Category - I Merchant Banker to carry out merchant banking and
related activities.
1. Contingent Liabilities
There are no contingent liabilities.
29. During the year, unquoted securities held as Inventories amounting
to Rs. 477.47 lacs have been transferred at book value to Non-Current
Investments.
2. In the opinion of Board of Directors all assets other than
non-current investments, have a realisable value in the ordinary course
of business which is not different from the amount at which it is
stated and the provisions for all known liabilities are adequate and
not in excess of the amounts reasonably necessary.
3. No personal expenses have been debited to Profit and Loss Account
except those payable under contractual obligation or normal business
practices.
4. Segment Reporting
The Company has only one segment i.e. Merchant Banking and financial
services, therefore segmentwise reporting has not been given as
required by Accounting Standard 17.
5. Previous year''s figures
Previous year''s figures have been regrouped / reclassified wherever
necessary to correspond with the current year''s classification /
disclosure.
Mar 31, 2013
CORPORATE INFORMATION
The Company is registered with Securities and Exchange Board of India
as Category -1 Merchant Banker. The Company also renders other
financial consultancy services.
1. Contingent Liabilities -
There are no contingent liabilities.
2. Related Party Disclosures
As per Accounting Standard 18, the disclosures of transactions with the
related parties are given below:
Details of related parties:
Description of relationship Names of related parties
Enterprise in which KMP / Relatives of Arodyne Chemicals Ltd.
KMP can exercise significant influence Aum Financial Consultants
Avdhoot Finance & Investments Pvt. Ltd.
Avdhoot Housing Finance Co. Pvt. Ltd.
Bahl & Co. Pvt. Ltd.
Desai Industrial Finance Pvt. Ltd.
J R Shroff HUF
Som Holding & Trading Co. Pvt. Ltd. Key Management Personnel (KMP) Mr.
Pradeep R. Shroff
Mr. Manoj T. Shroff
3. Employee Benefit
The Company has not provided gratuity/leave encashment on the basis of
actuarial valuation as required by Accounting Standard 15.
4. Sundry Debtors
The company has not provided for doubtful debts of Rs. 17.51 lac
(Previous Year Rs.25.83 lac).
5. In the opinion of Board of Directors all assets other than fixed
assets and non current investments, have a realisable value in the
ordinary course of business which is not different from the amount at
which it is stated and the provisions for all known liabilities are
adequate and not in excess of the amounts reasonably necessary.
6. No personal expenses have been debited to Statement of Profit and
Loss except those payable under contractual obligation or normal
business practices.
7. The balance due to / from parties are subject to confirmation.
8. Segment Reporting
The Company has only one segment i.e. Merchant Banking and related
services, therefore segmantwise reporting has not been given as
required by Accounting Standard 17.
9. Previous year''s figures
Previous year''s figures have been regrouped / reclassified wherever
necessary to correspond with the current year''s classification /
disclosure.
Mar 31, 2012
CORPORATE INFORMATION
The Company is registered with Securities and Exchange Board of India
as Category -1 Merchant Banker to carry out merchant banking and
related activities.
1. Contingent Liabilities
There are no contingent liabilities.
2. Professional Fees
Professional fees are accounted on accrual basis. However, in one of
the cases, the Company has accounted professional fees on the basis of
bill raised for the future period resulting into over-statement of
income by Rs. 32.50 lac. The same practice of accounting will be
followed till the expiry of such agreement. .
3. Employee Benefit
The Company has not provided gratuity/leave encashment on the basis of
actuarial valuation as required by Accounting Standard 15.
4. Sundry Debtors
The company has not provided for doubtful debts of Rs.26.03 lac (Previous
Year Rs.25.83 lac).
5. In the opinion of the Board of Directors, Current Assets, Loans
and Advances are approximately of the value stated, if realized in the
ordinary course of business.
6. No personal expenses have been debited to Profit and Loss Account
except those payable under contractual obligation or normal business
practices.
7. Segment Reporting
The Company has only one segment i.e. Merchant Banking and related
services, therefore segment wise reporting has not been given as
required by Accounting Standard 17.
8. Previous year's figures
The Revised Schedule VI has become effective from 1 April, 2011 for the
preparation of financial statements. This has significantly impacted
the disclosure and presentation made in the financial statements.
Previous year's figures have been regrouped / reclassified wherever
necessary to correspond with the current year's classification /
disclosure.
Mar 31, 2011
1. CONTINGENT LIABILITIES
We have been informed that there are no contingent liabilities
2. PROFESSIONAL FEES
Professional fees are accounted on accrual basis. However, in one of
the cases, the Company has accounted professional fees on the basis of
bill raised for the future period resulting into over-statement of
income by Rs. 32.50 lac. The same practice of accounting will be
followed till the expiry of such agreement.
3. EMPLOYEES BENEFIT
The Company has not provided gratuity on the basis of actuarial
valuation as required by Accounting Standard 15 (revised). We are
unable to quantify the effect on profits / loss, if any, had such
gratuity been provided on the basis of actuarial valuation.
4. SUNDRY DEBTORS
Rs.25.83 lac (Previous Year Rs.25.83 lac) is considered doubtful of
recovery. No provision is made for the same.
5. Confirmation letters are being obtained from some of the debtors,
creditors, certain loans taken and for certain bank accounts and loans
and advances given. Hence, the balances of these accounts are subject
to confirmation, reconciliation and consequent adjustments, if any.
6. WRITE-OFF OF ACCUMULATED LOSSES
During the year the Company has written off accumulated losses of
Rs.480.25 lac against Share Premium Account as per the Order dated 18th
March, 2011 passed by the Hon'ble Bombay High Court.
7. INVESTMENT HELD UNDER STOCK IN TRADE
The Investments are shown as Stock-in-Trade and valued at cost or
market /realization value whichever is lower. The Book Value of quoted
and un-quoted investments is Rs.6.88 lac, Rs.472.33 lac, respectively
(previous year Rs.6.47 lac, Rs.456.20 lac). The Market/realisable
value of quoted and un-quoted investments are Rs.8.85 lac and Rs.472.33
lac respectively. Loss of Rs.0.11 lac has been provided on account of
fall in market price of quoted investments.
8. AMOUNT DUE TO SAME
The Company does not owe any sum payable to Creditors registered under
Micro, Small and Medium Enterprises Development Act, 2006.
9. DEFERRED TAX ASSETS(NET)
Major components of deferred tax assets and liabilities arising on
account of timing differences as on 31st March, 2011 are mentioned
below:
10. In the opinion of the Board of Directors, Current Assets, Loans
and Advances are approximately of the value stated, if realized in the
ordinary course of business.
11. RELATED PARTY DISCLOSURE
Related party disclosure as required by Accounting Standard No. 18 is
given below:
12. No personal expenses have been debited to Profit and Loss Account
except those payable under contractual obligation or normal business
practices.
Mar 31, 2010
1. CONTINGENT LIABILITIES IN RESPECT OF:
As at 31/03/2010 As at
31/03/2009
Income Tax disputed in Appeal NIL Rs. 21.43 lac
2. PROFESSIONAL FEES
Professional fees are accounted on accrual basis. However, in one of
the cases, the Company has accounted professional fees on the basis of
bill raised for the future period resulting into over-statement of
income by Rs. 32.50 lac. The same practice of accounting will be
followed till the expiry of such agreement.
3. EMPLOYEES BENEFIT
The Company has not provided gratuity on the basis of actuarial
valuation as required by Accounting Standard 15 (revised). We are
unable to quantify the effect on profits / loss, if any, had such
gratuity been provided on the basis of actuarial valuation.
4. LOANS AND ADVANCES
Rs. Nil {Previous Year Rs.15.54 lac) due from a Company where directors
of the company are interested.
5. SUNDRY DEBTORS
Rs.25.331 lac (Previous Year Rs.25.83 lac) is considered doubtful of
recovery. No provision is made for the same. Current year Nil (Previous
year Rs. 9.86 Lacs is due from the private companies where the
Directors are interested
6. Confirmation letters are being obtained from some of the debtors,
creditors, certain loans taken and for certain bank accounts and loams
and advances given. Hence, the balances of these accounts are subject
to confirmation, reconciliation and consequent adjustments, if any.
7. INVESTMENT HELD UNDER STOCK IN TRADE
The Investments ate shown as Stock-in-Trade and valued at cost or
market /realization value whichever is lower. The Book Value of quoted
and un-quoted investments is Rs.6.47 lac, Rs.456.20 lac, respectively
(previous year Rs.12.64 lac, Rs.451.52 lac). The Market/realisable
value of quoted and un-quoted investments are Rs. 11.44 lac and
Rs.453.04 lac respectively. Loss of Rs.0.45 lac has been provided on
account of fall in market price of quoted investments.
8. AMOUNT DUE TO SME
The Company does not owe any sum payable to Creditors registered under
Micro, Small and Medium Enterprises Development Act, 2006.
9. In the opinion of the Board of Directors, Current Assets, Loans
and Advances are approximately of the value stated, if realized in the
ordinary course of business.
10. RELATED PARTY DISCLOSURE
Related party disclosure as required by Accounting Standard No.18 is
given below :
List of related parties and the transactions taken place during the
year:
11. No personal expenses have been debited to Profit and Loss Account
except those payable under contractual obligation or normal business
practices.
12. Previous years figures are regrouped/rearranged wherever found
necessary.
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