Mar 31, 2014
1. There are no micro, small and medium enterprises to whom the company
owes dues which are outstanding for more than 45 days from the balance
sheet date. The micro, small and medium enterprises have been
identified on the basis of information available with the company. This
has been relied upon by the Auditors.
2. Estimated amount of contracts remaining to be executed on capital
account and not provided for is Rs. NIL (Py Rs.11,08,475/- )
3. Contingent Liabilities not provided for - Rs. NIL (PY Rs.NIL)
4. The company has carried out an impairment test as per ''Accounting
Standard - 28'' issued by I.C.A.I on all the assets and no provision was
found to be required towards impairment of assets for the period ending
31st March, 2014.
5. The company does not have any non concealable lease arrangements.
Office premises are taken on operating lease and such lease rentals are
charged to revenue on accrual basis
6. The company is engaged in the manufacture of single product i.e
Bright Bars and its activities are confined to India. Hence there are
no reportable segments of the company.
7. Balances under the head trade receivables, long term loans &
advances, short term loans & advances, trade payables and other current
liabilities are subject to confirmation from the respective parties.
8. Previous year figures have been regrouped/ recasted/ reclassified/
re-arranged wherever deemed necessary to conform to current year''s
classification.
9. Short term and long term loans & advances are approximately of the
value as stated, if realized in the ordinary course of business. The
provision for all known liabilities is adequate and is not in excess of
the amount considered reasonably necessary.
10. Amounts, due and outstanding, to be credited to Investor Education
and Protection Fund as on 31st March, 2014 - Nil. (p.y Nil).
11. Earnings/Outgoings in foreign currency:
Earnings : Rs. Nil (Previous year Nil)
Outgo : Rs. Nil (Previous year Nil)
Mar 31, 2013
1.1 Estimated amount of contracts remaining to be executed on capital
account and not provided for is Rs. 1108475/- (P.y Rs.Nil )
1.2 Contingent Liabilities not provided for  Rs. NIL (PY Rs.NIL)
1.3 Related party Disclosures: Disclosures as required by the
Accounting Standard (AS-18) "Related party Disclosures" are given here
in below:
i. Names of related parties and description of relationship:
a. Associates : Jai Bapji Ispat (P) Ltd.
b. Key Management Personnel : Shri Satya Bhagwan Chachan  Managing
Director
c. Relatives of Key : Smt. Usha Chachan Management Personnel
1.4 The company has carried out an impairment test as per ''Accounting
Standard  28'' issued by I.C.A.I on all the assets and no provision was
found to be required towards impairment of assets for the period ending
31st March, 2013.
1.5 The company does not have any non cancelable lease arrangements.
Office premises are taken on operating lease and such lease rentals are
charged to revenue on accrual basis
1.6 The company is engaged in the manufacture of single product i.e
Bright Bars and its activities are confined to India. Hence there are
no reportable segments of the Company.
1.7 Balances under the head trade receivables, long term loans &
advances, short term loans & advances, trade payables and other current
liabilities are subject to confirmation from the respective parties.
1.8 Previous year figures have been regrouped/ recasted/ reclassified/
re-arranged wherever deemed necessary to conform to current year''s
classification.
1.9 Short term and long term loans & advances are approximately of the
value as stated, if realized in the ordinary course of business. The
provision for all known liabilities is adequate and is not in excess of
the amount considered reasonably necessary.
1.10 Amounts, due and outstanding, to be credited to Investor Education
and Protection Fund as on 31st March, 2013 - Nil. (p.y Nil).
1.11 Earnings/Outgoings in foreign currency: Earnings : Rs. Nil
(Previous year Nil) Outgo : Rs. Nil (Previous year Nil)
Mar 31, 2012
1.01 a. There are no micro, small and medium enterprises to whom the company
owes dues which are outstanding for more than 45 days from the balance
sheet date. The micro, small and medium enterprises have been
identified on the basis of information available with the company .This
has been relied upon by the Auditors.
1.2 Estimated amount of contracts remaining to be executed on capital
account and not provided for is Rs. Nil (P.y Rs. Nil)
1.3 Contingent Liabilities not provided for à Rs. NIL (PY Rs.NIL)
1.4 Related party Disclosures: Disclosures as required by the
Accounting Standard (AS-18) "Related party Disclosures" are given here
in below:
i. Names of related parties and description of relationship:
a. Associates : Jai Bapji Ispat (P) Ltd.
b. Key Management Personnel : Shri Satya Bhagwan Chachan - Managing
Director
c. Relatives of Key : Smt. Usha Chachan Management
Personnel
1.5 The company has carried out an impairment test as per 'Accounting
Standard - 28' issued by I.C.A.I on all the assets and no provision was
found to be required towards impairment of assets for the period ending
31st March, 2012.
1.6 The company does not have any non cancelable lease arrangements.
Office premises are taken on operating lease and such lease rentals are
charged to revenue on accrual basis
1.7 The company is engaged in the manufacture of single product i.e
Bright Bars and its activities are confined to India. Hence there are
no reportable segments of the Company.
1.8 Balances under the head trade receivables, long term loans &
advances, short term loans & advances, trade payables and other current
liabilities are subject to confirmation from the respective parties.
1.9 Previous year figures have been
regrouped/recasted/reclassified/re-arranged wherever deemed necessary
to conform to current year's classification.
1.10 Short term & Long term Loans & Advances are approximately of the
value as stated, if realized in the ordinary course of business. The
provision for all known liabilities is adequate and is not in excess of
the amount considered reasonably necessary.
1.11 Amounts, due and outstanding, to be credited to Investor Education
and Protection Fund as on 31st March, 2012 - Nil. (p.y Nil).
1.12 Earnings/Outgoings in foreign currency:
Earnings : Rs. Nil (Previous year Nil)
Outgo : Rs. Nil (Previous year Nil)
Mar 31, 2011
1. Estimated amount of contracts remaining to be executed on capital
account and not provided for is Rs. Nil (P.y Rs.Nil )
2. Contingent Liabilities not provided for - Rs. NIL (PY Rs.NIL)
3. During the year the company has made preferential issue of 2,50,000
convertible warrants of Rs. 10/- each, convertible into 2,50,000 Equity
shares of Rs. 10/- each, amounting to Rs.25 lacs to the promoter group.
Pursuant to the same, the company has allotted 2,50,000 Equity shares
of Rs. 10/- each as fully paid on 31-12- 2010 and the proceeds were
utilized to meet the long term working capital requirements.
4. Professional charges include a sum of Rs.11,030 (PY 5,515) paid to
Statutory Auditors towards certification charges.
5. Employees Benefits
Defined Contribution Plan
Defined Benefit Plan
The company has adopted the revised accounting standard (AS-15) issued
by the Institute of Chartered Accountants of India , on employees
benefits with effect from 1st April, 2008. The following table gives
the status of the non- funded gratuity plan as required under AS 15
(Revised):-
6. Related party Disclosures: Disclosures as required by the
Accounting Standard (AS-18) "Related party Disclosures" are given here
in below:
i. Names of related parties and description of relationship:
a. Associates Jai Bapji Ispat (P) Ltd.
b. Key Management Personnel Shri Satya Bhagwan
Chachan - Managing Director
c. Relatives of Key Smt. Usha Chachan
Management Personnel
7. The company has carried out an impairment test as per 'Accounting
Standard - 28' issued by I.C.A.I on all the assets and no provision was
found to be required towards impairment of assets for the period ending
31st March, 2011.
8. The company does not have any non cancelable lease arrangements.
Office premise is taken on operating lease and such lease rentals are
charged to revenue on accrual basis
9. The company is engaged in the manufacture of single product i.e
Bright Bars and its activities are confined to India. Hence there are
no reportable segments of the Company.
10. The company has not received any intimation from 'suppliers'
regarding their status under the Micro, Small and Medium Enterprises
Development Act, 2006 and hence disclosures, if any relating to amounts
unpaid as at the year end together with interest paid/payable as
required under the said Act, have not been given.
11. Balances under the head Debtors, Loans & Advances, Trade Creditors
and other liabilities are subject to confirmation from the respective
parties.
12. Previous year figures have been
regrouped/recasted/reclassified/re-arranged wherever deemed necessary
to conform with current year's classification.
13. Current Assets loans & Advances are approximately of the value as
stated, if realized in the ordinary course of business. The provision
for all known liabilities is adequate and is not in excess of the
amount considered reasonably necessary.
14. Amounts, due and outstanding, to be credited to Investor Education
and Protection Fund as on 31st March, 2011 - Nil. (p.y Nil).
Mar 31, 2010
1. Estimated amount of contracts remaining to be executed on capital
account and not provided for is Rs. Nil (P.y Rs.Nil )
2. Contingent Liabilities not provided for à Rs. NIL (PY Rs.NIL)
3. Professional charges include a sum of Rs. 5,515 (PY 11,236) paid to
Statutory Auditors towards certification charges.
4. Related party Disclosures: Disclosures as required by the
Accounting Standard (AS-18) "Related party Disclosures" are given here
in below:
i. Names of related parties and description of relationship:
a. Associates : Jai Bapji Ispat (P) Ltd.
b. Key Management Personnel : Shri Satya Bhagwan Chachan - Managing
Director
c. Relatives of Key : Smt. Usha Chachan
Management Personnel
5. The company has carried out an impairment test as per ÃAccounting
Standard à 28 issued by I.C.A.I on all the assets and no provision was
found to be required towards impairment of assets for the period ending
31st March, 2010.
6. The company does not have any non cancelable lease arrangements.
Office premises are taken on operating lease and such lease rentals are
charged to revenue on accrual basis
7. The company is engaged in the manufacture of single product i.e
Bright Bars and its activities are confined to India. Hence there are
no reportable segments of the Company.
8. The company has not received any intimation from Ãsuppliers
regarding their status under the micro, small and medium Enterprises
Development Act, 2006 and hence disclosures, if any relating to amounts
unpaid as at the year end together with interest paid/payable as
required under the said Act, have not been given.
9. Balances under the head Debtors, Loans & Advances, Trade Creditors
and other liabilities are subject to confirmation from the respective
parties.
10. Previous year figures have been
regrouped/recasted/reclassified/re-arranged wherever deemed necessary
to conform with current years classification.
11. Current Assets loans & Advances are approximately of the value as
stated, if realized in the ordinary course of business. The provision
for all known liabilities is adequate and is not in excess of the
amount considered reasonably necessary.
12. Amounts, due and outstanding, to be credited to Investor Education
and Protection Fund as on 31st March, 2010 - Nil. (p.y Nil).
13. Raw material tools & consumables consumed are 100% indigenous.
14. Earnings/Outgoings in foreign currency:
Earnings : Rs. Nil (Previous year Nil)
Outgo : Rs. Nil (Previous year Nil)
15. Schedules 1 to 18 form integral part of accounts.
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