Mar 31, 2015
A. Assets and Liabilities
1 All debit and credit balances and accounts squared up during the year
are subject to confirmation from respective parties.
2 In the opinion of the Board of Directors the current assets, loans &
advances are approximately of the value at which these are stated in
the Balance Sheet if realized in the ordinary course of business.
3 Adequate provisions have been made for all known liabilities and the
provision are not in excess of the amount reasonably necessary.
B. Accounting for Taxes
1 As required by "Accounting Standard 22 - Accounting for Taxes on
Income", the company has provided for Deferred Taxes. The tax effect of
timing differences originating and reversing during the year has been
reflected in the current year's Profit & Loss Ac
C Segment Reporting
The Company has a single business segment namely PETROLEUM PRODUCT.
Hence, the company's business does not fall under different business
segments as defined by AS - 17 " Segmental Reporting " issued by the
ICAI.
D Earning in Foreign Currency Rs. 1,51,14,352/- (Previous Year
Rs.1,93,93,780/-).
E C.I.F. value of Imports Rs. NIL (Previous Year: Rs. 21,95,361/-).
F Expenditure in Foreign Currency Rs. 3,48,382/- (Previous Year: Rs.
1,33,205/- ).
G Previous Year figures have been rearranged / regrouped wherever
necessary.
Mar 31, 2014
A. Assets and Liabilities
1 All debit and credit balances and accounts squared up during the year
are subject to confirmation from respective parties.
2 In the opinion of the Board of Directors the current assets, loans &
advances are approximately of the value at which these are stated in
the Balance Sheet if realised in the ordinary course of business.
3 Adequate provisions have been made for all known liabilities and the
provision are not in excess of the amount reasonably necessary.
4 The computation of net profits for the purpose of calculation of
Directors remuneration u/s.349 of the Companies Act, 1956 is not
enumerated since no commission has been paid to the Directors as per
Schedule XIII to the Companies Act, 1956. However, fixed remuneration
paid to director as per Schedule XIII to the Companies Act, 1956 was
Rs. 7,98,000 /-. (Previous year Rs. 6,96,000 /-)
B. Accounting for Taxes
1 As required by "Accounting Standard 22 - Accounting for Taxes on
Income", the company has provided for Deferred Taxes. The tax effect of
timing differences originating and reversing during the year has been
reflected in the current year''s Profit & Loss Ac
C Segment Reporting
The Company has a single business segment namely PETROLEUM PRODUCT.
Hence, the company''s business does not fall under different business
segments as defined by AS - 17 " Segmental Reporting " issued by the
ICAI.
D Directors of Company :- Chairman & Managing Director :- Shri
Ashokbhai Goenka Director :- Shri Arvindbhai Goenka Whole Time Director
:- Shri J. K. Trivedi Director :- Shri Shailesh Singh Rajput Director
:- Shri Om Prakash Jalan Director :- Shri Niresh Parikh
E Trasactions with Related Parties
Following transaction were carried out with related parties in the
ordinary course of business :
Amount (Rs.)
Director Remunaration 798,000
Salary To Pulkit Goenka 360,000
Interest paid on Unsecured Loan to
Advance Multitech Ltd. 42,522
F Earning in Foreign Currency Rs. 1,93,93,780/- (Previous Year Rs.
7,062,992 /-). H C.I.F. value of Imports Rs 21,95,361 /- (Previous
Year: Rs. NIL ).
G Expenditure in Forign Currency Rs 1,33,205/- (Previous Year: Rs. NIL
).
H Previous Year figures have been rearranged / regrouped wherever
necessary.
Mar 31, 2013
A. Assets and Liabilities
1 All debit and credit balances and accounts squared up during the year
are subject to confirmation from respective parties.
2 In the opinion of the Board of Directors the current assets, loans &
advances are approximately of the value at which these are stated in
the Balance Sheet if realised in the ordinary course of business.
3 Adequate provisions have been made for all known liabilities and the
provision are not in excess of the amount reasonably necessary.
4 The computation of net profits for the purpose of calculation of
Directors remuneration u/s.349 of the Companies Act, 1956 is not
enumerated since no commission has been paid to the Directors as per
Schedule XIII to the Companies Act, 1956. However, fixed remuneration
paid to director as per Schedule XIII to the Companies Act, 1956 was ''
4,86,202 /-. (Previous year'' 6,06,633 /-)
B Accounting for Taxes
1 As required by "Accounting Standard 22 - Accounting for Taxes on
Income", the company has provided for Deferred Taxes. The tax effect of
timing differences originating and reversing during the year has been
reflected in the current year''s Profit & Loss Ac
C Segment Reporting
The Company has a single business segment namely PETROLEUM PRODUCT.
Hence, the company''s business does not fall under different business
segments as defined by AS - 17 " Segmental Reporting " issued by the
ICAI.
D Directors of Company:-
Chairman & Managing Director :- Shri Ashokbhai Goenka
Director :- Shri Arvindbhai Goenka
Director :- Shri J. K. Trivedi
Director :- Shri Shailesh Singh Rajput
Director :- Shri Om Prakash Jalan
Director :- Shri Niresh Parikh
E Trasactions with Related Parties
Following transaction were carried out with related parties in the
ordinary course of business :
F Earning in Foreign Currency Rs. 7,062,992/- (Previous Year Rs.
11,821,040/-). H C.I.F. value of Imports Rs. NIL (Previous Year: Rs.
NIL ). I Previous Year figures have been rearranged / regrouped
wherever necessary.
Mar 31, 2012
A. Assets and Liabilities
1 All debit and credit balances and accounts squared up during the year
are subject to confirmation from respective parties.
2 In the opinion of the Board of Directors the current assets, loans &
advances are approximately of the value at which these are stated in
the Balance Sheet if realized in the ordinary course of business.
3 Adequate provisions have been made for all known liabilities and the
provision are not in excess of the amount reasonably necessary.
4 The computation of net profits for the purpose of calculation of
Directors remuneration u/s.349 of the Companies Act, 1956 is not
enumerated since no commission has been paid to the Directors as per
Schedule XIII to the Companies Act, 1956. However, fixed remuneration
paid to director as per Schedule XIII to the Companies Act, 1956 was '
4,86,202 /-. (Previous year ' 6,06,633 /-)
B. Accounting for Taxes
1 As required by "Accounting Standard 22 - Accounting for Taxes on
Income", the company has provided for Deferred Taxes. The tax effect of
timing differences originating and reversing during the year has been
reflected in the current year's Profit & Loss Ac
C Segment Reporting
The Company has a single business segment namely PETROLEUM PRODUCT.
Hence, the company's business does not fall under different business
segments as defined by AS - 17 " Segmental Reporting " issued by the
ICAI.
D Directors of Company :-
Chairman & Managing Director :- Shri Ashokbhai Goenka
Director :- Shri Arvindbhai Goenka
Director :- Shri J. K. Trivedi
Director :- Shri Shailesh Singh Rajput
Director :- Shri Om Prakash Jalan
Director :- Shri Nirish Parikh
E Transactions with Related Parties
Following transaction were carried out with related parties in the
ordinary course of business :
Amount (Rs)
Director Remuneration 486,202
Rent Received from Advance Multitech Ltd. 240,000
Salary To Pulkit Goenka 180,000
Interest paid on Unsecured Loan to Advance
Multitech Ltd. 603,172
F Additional information pursuant to the provision of paragraphs 3,
4(c) and 4(d) of Part II of Schedule VI of the Companies Act, 1956
regarding quantitative information in respect of each class of goods is
as under :-
Licensed Capacity :
The Company is not required to obtain any license under the Industries
Development Regulation Act, therefore, the details of licensed capacity
are not applicable.
Opening and Closing Semi-Finished Goods have considered while working
out above production. The details of Opening and Closing Stock of Semi
Finished Goods are as under:-
G Earning in Foreign Currency Rs.11821040/- (Previous Year Rs.
7,176,746/-).
H C.I.F value of Imports Rs. NIL (Previous Year: Rs. NIL ).
I Previous Year figures have been rearranged / regrouped wherever
necessary.
Mar 31, 2010
A. Assets and Liabilities
1 All debit and credit balances and accounts squared upduring the year
are subject to confirmation from respective parties.
2 In the opinion of the Board of Directors the current assets, loans &
advances are approximately of the value at which these are stated in
the Balance Sheet if realised in the ordinary course of business.
3 Adequate provisions have been made for all known liabilities and the
provision are not in excess of the amount reasonably necessary.
4 The computation of net profits forthe purpose of calculation of
Directors remuneration u/s.349 of the Companies Act, 1956 is not
enumerated since no commission has been paid to the Directors as per
shedule XIII to the Companies Act, 1956. However, fixed remuneration
paid to director as per shedule XIII to the Companies Act, 1956 was
Rs.5,76,000 /-.(Previous year Rs. 5,04,000 /-)
B. Accounting for Taxes
1 As required by "Accounting Standard 22 - Accounting for Taxes on
Income", the company has provided for Deferred Taxes. The tax effect of
timing differences originating and reversing during the year has been
reflected in the current years Profit & Loss Account.