Mar 31, 2015
NOTE 1. BEING PART OF NOTES ON ACCOUNTS EARNING PER SHARES
Basic earnings per share is computed by dividing the profit / (loss)
after tax (including the post tax effect of extraordinary items, if
any) by the weighted average number of equity shares outstanding during
the year. Diluted earnings per share is computed by dividing the
profit / (loss) after tax (including the post tax effect of
extraordinary items, if any) by the weighted average number of equity
shares considered for deriving basic earnings per share since the
company have not issued any securities which can be potential equity
shares.
NOTE 2. BEING PART OF NOTES ON ACCOUNTS
Particulars of employees who are in receipt of Rs. 60,00,000 per
annum when employed throughout the financial year or Rs. 5,00,000 per
month when employed for the part of year : Nil (2013-14 : Nil).
As none of the employee is covered by the eligibility criteria hence
no provision for the retirement benefit has been made.
NOTE 3. BEING PART OF NOTES ON ACOUNTS
There has been no prior period or extra ordinary item of income or
expenditure which has been entered in the books of accounts during the
year.
NOTE 4. BEING PART OF NOTES ON ACOUNTS
Current income tax expense comprises taxes in income from operation
for the period. Income tax payable is determined in accordance with the
Income Tax Act, 1961.
Deferred Tax expense or benefit is recognized on timing difference
between taxable income and accounting income that originate in one
period and are capable of reversal in one or more subsequent periods.
Deferred tax asset and liabilities are measured using the tax rates
and tax laws that have been enacted or substantively enacted by the
balance sheet date.
NOTE 5. BEING PART OF NOTES ON ACOUNTS
In accordance with Accounting Standard 22 " Accounting for Taxes on
Incomes" notified under the Companies Act, 2013 by the Central
Government, the timing difference have resulted in net deferred tax
Asset of Rs 1,88,063/- as the year end 31st March, 2015.
NOTE 6. BEING PART OF NOTES ON ACOUNTS
The Company is a Small and Medium-sized Company (SMC) as defined in the
General Instructions in respect of Accounting Standards notified under
the Companies Act, 2013. Accordingly, the Company has compiled with the
Accounting Standards as applicable to a Small and Medium-Sized Company.
NOTE 7. BEING PART OF NOTES ON ACOUNTS
The Company has not received any intimation from "suppliers" regarding
their status under the Micro, Small and Medium Enterprises Development
Act, 2006 and hence, the following disclosures under the said Act have
been shown as Nil.
NOTE 8. BEING PART OF NOTES ON ACOUNTS
Related Party disclosures, as required in terms of Accounting Standard
(AS) 18 are given below :
Relationships :
A) Individuals having voting power with control or significant
influence :
i) Shri Amit Mittal ii) Shri Rakesh Kumar Mittal iii) Shri Ashok Kumar
Mittal iv) Shri Anil Kumar Agarwal
B) Relatives of Key Management Personnel, where transaction have taken
place :
i) NIL
C) Associate Companies owned by Directors or Major Shareholders :
i) NIL Note : Related party relationships are as identified by the
Company and relied upon by the Auditors.
NOTE 9. BEING PART OF NOTES ON ACOUNTS
Preliminary Expenses are being written off over a period of five years.
NOTE 10. BEING PART OF NOTES ON ACOUNTS
Provision, Contingent Liabilities & Contingent Assets :
Estimated amounts of contract to be executed and not provided for as on
31st March 2015 is: Nil (2013-14: Nil) In the opinion of the Board, the
assets other than fixed assets and noncurrent investments are
approximately of the same value stated, if realized in the ordinary
course of business.
NOTE 11. BEING PART OF NOTES ON ACOUNTS
- Earnings in foreign currency Rs. Nil (2013-14 : Nil)
- Expenditure in foreign currency Rs. Nil (2013-14: Nil)
NOTE 12. BEING PART OF NOTES ON ACOUNTS
Previous year's figures have been regrouped wherever necessary. The
company has compiled the above accounts based on the revised/Modified
schedule III applicable for the accounting period 2014-2015.
Mar 31, 2014
1. The company has only one class of shares referred to as equity
shares having a par value of Rs. 10/-. Each holder of one equity share
is entitled to one vote per share.
In the event of liquidation of the Company, the holders of the shares
shall be entitled to receive any of the remaining assets of the
Company, after distribution of all prefrential amounts. However, no
such preferential amounts exist currently. The amount distributed will
be in proportion to the number of equity shares held by the
shareholders.
Note 2 : Being part of Notes on Accounts
Earning Per Share
Basic earnings per share is computed by dividing the profit / (loss)
after tax (including the post tax effect of extraordinaryitems, if any)
by the weighted average number of equity shares outstanding during the
year. Diluted earnings per share is computed by dividing the profit /
(loss) aftertax (including the post tax effect of extraordinaryitems,
if any) by the weighted averagenumber of equity shares considered for
deriving basic earnings per share since the company have not issued any
securities which can be potential equity shares.
Note 3 : Being part of Notes on Accounts
* Particulars of employeeswho are in receipt of Rs. 60,00,000 per annum
when employed throughout the financial year or Rs. 5,00,000 per month
when employed for the part of year: Nil (2011-12 : Nil).
* As none of the employeeis covered by the eligibility criteria hence
no provision for the retirement benefit has been made.
Note 4 : Being part of Notes on Accounts
There has been no prior period or extraordinaryitem of income or
expenditure which has been entered in the books of accounts during the
year.
* Current income tax expensecomprises taxes in income from operationfor
the period. Income tax payable is determined in accordance with the
Income Tax Act, 1961.
* Deferred Tax expense or benefit is recognised on timing difference
between taxable income and accounting income that originate in one
period and are capable of reversal in one or more subsequent periods.
* Deferred tax asset and liabilities are measured using the tax rates
and tax laws that have been enacted or substantively enacted by the
balance sheet date.
Note 6 : Being part of Notes on Accounts
In accordance with Accounting Standard 22 " Accounting for Taxes on
Incomes" notified under the Companies Act, 1956 by the Central
Government, the timing difference have resulted in net deferred tax
Asset of Rs 1,38,689/- as the year end 31st March, 2014.
Note 7 : Being part of Notes on Accounts
The Company is a Small and Medium-sized Company (SMC) as defined in the
General Instructions in respect of Accounting Standards notified under
the Companies Act, 1956. Accordingly, the Company has compiled with the
Accounting Standards as applicable to a Small and Medium-Sized Company.
Note 8 : Being part of Notes on Accounts
Related Party disclosures, as required in terms of Accounting Standard
(AS) 18 are given below :
Relationships :
a) Individuals having voting power with control or significant
influence :
i) Shri Amit Mittal
ii) Shri Rakesh Kumar Mittal
iii) Shri Ashok Kumar Mittal
iv) Shri Anil Kumar Agarwal
B) Relatives of Key Management Personnel, where transaction have taken
place :
i) NIL
C) Associate Companies owned by Directors or Major Shareholders :
i) NIL
Note : Related party relationships are as identified by the Company and
relied upon by the Auditors.
Note 9 : Being part of Notes on Accounts
Preliminary Expenses are being written off over a period of five years.
Note 10 : Being part of Notes on Accounts
Provision. Contingent Liabilities & Contingent Assets :
Estimated amounts of contract to be executed and not provided for as on
31st March 2014 is: Nil (2012-13 In the opinion of the Board, the
assets other than fixed assets and non current investments are
approximately of the same value stated, if realised in the ordinary
cource of business
Note 11 : Being part of Notes on Accounts
Earnings in foreign currency Rs. Nil (2012-13 : Nil)
Expenditure in foreign currency Rs. Nil (2012-13 : Nil)
Note 12 : Being part of Notes on Accounts
Previous year''s figures have been regrouped wherever necessary.
Mar 31, 2013
Note 1 : Being part of Notes on Accounts
- Current income tax expense comprises taxes in income from operation
for the period. Income tax payable is determined in accordance with the
Income Tax Act, 1961.
- Deferred Tax expense or benefit is recognised on timing difference
between taxable income and accounting income that originate in one
period and are capable of reversal in one or more subsequent periods.
- Deferred tax asset and liabilities are measured using the tax rates
and tax laws that have been enacted or substantively enacted by the
balance sheet date.
Note 2 : Being part of Notes on Accounts
In accordance with Accounting Standard 22 " Accounting for Taxes on
Incomes" notified under the Companies Act, 1956 by the Central
Government, the timing difference have resulted in net deferred tax
Asset of Rs. 94,026 as the year end 31st March, 2013.
Note 3 : Being part of Notes on Accounts
The Company is a Small and Medium-sized Company (SMC) as defined in the
General Instructions in respect of Accounting Standards notified under
the Companies Act, 1956. Accordingly, the Company has compiled with the
Accountino. Standards as applicable to a Small and Medium-Sized
Company.
Note 4 : Being part of Notes on Accounts
The Company has not received any intimation from "suppliers" regarding
their status under the Micro, Small and Medium Enterprises Development
Act, 2006 and hence, the following disclosures under the said Act have
been
Note 5 : Being part of Notes on Accounts
Related Party disclosures, as required in terms of Accounting Standard
(AS) 18 are given below :
Relationships :
a) Individuals having voting power with control or significant
influence :
i) Shri Amit Mittal
ii) Shri Rakesh Kumar Mittal iii) Shri Ashok Kumar Mittal iv) Shri Anil
Kumar Agarwal
B) Relatives of Key Management Personnel, where transaction have taken
place : i) NIL
C) Associate Companies owned by Directors or Major Shareholders : i)
Nil- Note : Related party relationships are as identified by the
Company and relied upon by the Auditors.
Note 6 : Being part of Notes on Accounts
Preliminary Expenses are being written off over a period of five years.
Note 7 : Being part of Notes on Accounts
Provision. Contingent Liabilities & Contingent Assets :
Estimated amounts of contract to be executed and not provided for as on
31st March 2013 is : Nil (2011-12 :
In the opinion of the Board, the assets other than fixed assets and non
current investments are approximately of the same value stated, if
realised in the ordinary cource of business
Note 8 : Being part of Notes on Accounts
Earnings in foreign currency Rs. Nil (2011-12 : Nil) Expenditure in
foreign currency Rs. Nil (2011-12 : Nil)
Note 9 : Being part of Notes on Accounts
Previous year''s figures have been regrouped wherever necessary.
Mar 31, 2012
1. Confirmation of various debit and credit balances, loans and
advances given and other liabilities etc. have not been received in
some cases, which may have a revenue impact.
The Company is of the opinion that the computation of the net profit
under section349 of the Companies Act 1956 is not necessary as no
commission is paid/payable to the Directors for the year ended
31.03.2012.
2. Under Real Estate Division of the Company, the sale and booking is
in progress in the following projects:
Plots in Ikon city Project Plots in Ikon Greens Project Plots in Ikon
Vatica Project Shops in Anna Complex Shops in Anna Ikon
The Company has booked the Income @ 15% on sales/Bookings of Plots and
20% on sales/bookings of Shops, Flats, and balance of Profit & Loss of
particular project accounted in that year in which the entire sale of
said project will be completed.
3. Segment Information Composition of Business segment
The Company's business divided into two segment as
I. Real Estate Business
II. Loan and Investment
Normally there is no inter segment transactions in the company.
As at 31.03.2012 seqment revenues, result and other information
4. Related Party Disclosure
Related Party Disclosure, as required by AS-18 are given below :
(a) Whole Time Directors of the Company Shri Ashok Mittal Shri Rakesh
Mittal Shri Anil Kumar Agarwal
The following transactions were carried out with the related parties in
the ordinary curse of business.
(i) Remuneration to the Persons referred to in 8(a) above 3,38,000/-
(ii) Loan to Director other than 8(a) above Nil
5. As of March 31, 2012, the Company had no outstanding dues to
small-scale industrial undertakings (Previous year: Rs. NIL).
6. Previous Year figures have been Regrouped/Restated wherever deemed
necessary to make them comparable with those of the current year.
7. Figures have been rounded off to the nearest rupee.
Mar 31, 2010
1. Confirmation of various debit and credit balances, loans and
advances given and other liabilities etc. have not been received in
some cases, which may have a revenue impact.
The Company is of the opinion that the computation of the net profit
under section349 of the Companies Act 1956 is not necessary as no
commission is paid/payable to the Directors for the year ended
31.03.2010.
2. As the company has surrendered its RBI Registration and according
to Prudential Norms of the Reserve Bank of India there is no fresh NPA
provision during the year:
Net Provision as on 31.03.2010 : Rs. 5,74,689/- (Previous Year: Rs.
5,74,669/-).
3. Under Real Estate Division of the Company, the sale and booking is
in progress in the following projects : Plots in Ikon Residency Project
Plots in Ikon city Project
Plots in Ikon Greens Project
Plots in Ikon Vatica Project
Land in Kalal Kheria Project
Shops in Anna Complex
Shops in Anna Ikon and
Flats at Shivalik Residency The Company has booked the Income @ 15% on
sales/Bookings of Plots and 20% on sales/bookings of Shops, Flats, and
balance of Profit & Loss of particular project accounted in that year
in which the entire sale of said project will be completed.
4. Segment Information
Composition of Business segment
The Companys business divided into two segment as
I. Real Estate Business
II. Loan and Investment
Normally there is no inter segment transactions in the company. As at
31.03.2010 segment revenues, result and other information
5. (a) Loans & Advances of Rs. Nil (Previous Year Rs. NIL) given to
Directors of the Company. Maximum amount due during the year Rs. Nil
(Previous Year: Rs. NIL).
(b)The amount due from Companies under the same management as defined
in section (1-B) of Section 370 of the Companies Act 1956 are Rs. Nil
(Previous Year: Rs. NIL), maximum amount due during the year: Rs. NIL
(Previous Year: Rs. NIL).
6. Related Party Disclosure
Related Party Disclosure, as required by AS-18 are given below : (a)
Whole Time Directors of the Company Shri Ashok Mittal Shri Rakesh
Mittal Shri Anil Kumar Agarwal The following transactions were carried
out with the related parties in the ordinary curse of business.
As on 31.03.2010
(i) Remuneration to the Persons
referred to in 8(a) above 2,88,000/-
(ii) Loan to Director other than 8(a) above Nil
7. As of March 31, 2010, the Company had no outstanding dues to
small-scale industrial undertakings (Previous year: Rs. NIL).
8. Previous Year figures have been Regrouped/Restated wherever deemed
necessary to make them comparable with those of the current year.
9. Figures have been rounded off to the nearest rupee.
Disclaimer: This is 3rd Party content/feed, viewers are requested to use their discretion and conduct proper diligence before investing, GoodReturns does not take any liability on the genuineness and correctness of the information in this article