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Notes to Accounts of Venus Universal Ltd.

Mar 31, 2014

1. Contingent Liabilities:

There are no contingent liabilities.

2. Segment Reporting:

The company has got the two different segments:

Software and Electrical work. Income derived from the software is Rs 94,600/- and from electrical contract is Rs 12,75,165/-. There is not geographical segment to disclose as per AS- 17.

3. Differed Liability:

The company has not provided differed tax liability under AS - 22, as the company has incurred huge losses for many years.

4. Balances standing at the debit or credit in the accounts of various parties are subject to confirmation and reconciliation.

5. Previous year''s figures have been regrouped wherever considered necessary.

6. All figures in the Balance Sheet, Profit & Loss Account and Schedules have been rounded off to the nearest rupee.

7. No amount is payable to SSI units.


Mar 31, 2010

1. Contingent Liabilities :

There are no contingent liabilities.

2. Information pursuant to the provisions of paragraphs 3(i)(a), 3(ii)(a), 4(c) and (d) of Part II of schedule VI of the companies Act. 1956.

IV. Foreign Exchange Earnings & Expenditure :

a) Value of Imports Nil

b) Value of Expenditure in foreign currency Nil

c) Value of Raw Material, Spare etc. Nil

d) Amount remitted on account of dividend. Nil

e) Earnings in foreign Exchange. Nil

V. Related Party Transaction :

a) Related party were control exits. - None.

b) Other Parties with whom transaction have taken place during the year. i) Associates - None

ii) Joint - Ventures-None.

iii) Key Management Personnel:

Chairman & Management Director - Mr. Vasant Onkar Patil Director - Mr. Mayur Vasant Patil.

c) The related party transaction are as under: Managerial Remuneration: Rs. 169,000/-

3. Segment Reporting:

The company has got the different segments :

Software and Electrical work. Income derived from the software is Rs 25,800/- and from electrical contract is Rs 39,31,661. There is not geographical segment to disclose as per AS- 17.

4. Differed Liability :

The company has not provided differed tax liability under AS - 22, as the company has incurred huge losses for. many years.

5. Balances standing at the debit or credit in the accounts of various parties are subject to confirmation and reconciliation.

6. Previous years figures have been regrouped wherever considered necessary.

7. All figures in the Balance Sheet, Profit & Loss Account and Schedules have been rounded off to the nearest rupee.

8. No amount is payable to SSI units.

Signature to schedules 1 to 08 which form an integral part of the accounts


Mar 31, 2009

1. Contingent Liabilities:

There are no contingent liabilities.

2. Amount paid or payable to the Auditors

i) As auditor Rs. 12122/-

3. Directors Remuneration:

Salaries Rs. 1,20,000/-

IV. Foreign Exchange Earnings & Expenditure :

a) Value of Imports Nil

b) Value of Expenditure in foreign currency Nil

c) Value of Raw Material, Spare etc. Nil

d) Amount remitted on account of dividend. Nil

e) Earnings in foreign Exchange. NIL

V. Related Party Transaction :

a) Related party were control exits. - None.

b) Other Parties with whom transaction have taken place during the year. i) Associates -" None

ii) Joint - Ventures-None.

hi) Key Management Personnel:

Chairman & Management Director - Mr. Vasant Onkar Patil Director

- Mr. Mayur Vasant Patil.

c) The related party transaction are as under:

Managerial Remuneration : Rs. 120,000/-

5. Segment Reporting:

The company has got the different segments :

Software and Electrical work. Income derived from the software is Rs 8600/- and from electrical contract is Rs 18,68,729. There is not geographical segment to disclose as per AS-17.

6. Differed Liability:

The company has not provided differed tax liability under AS - 22, as the company has incurred huge losses for many years.

7. Balances standing at the debit or credit in the accounts of various parties are subject to confirmation and reconciliation.

8. Previous years figures have been regrouped wherever considered necessary.

9. All figures in the Balance Sheet, Profit & Loss Account and Schedules have been rounded off to the nearest rupee.

10. No amount is payable to SSI units.

Signature to schedules 1 to 09 which form an integral part of the accounts