Mar 31, 2014
Contingent Liability is disclosed for by way of note for -
a) Possible obligation which will be confirmed only by future events
not wholly within the control of the Company or
b) Present obligations arising from the past events where it is not
probable that an outflow of resources will be required to settle the
obligation or a reliable estimate of the amount of the obligation
cannot be made.
c) Contingent Assets are not recognized in the financial statements
since this may result in the recogni- tion of income that may never be
realized.
1. Figures have been rounded off to the nearest rupee, wherever
required.
2. Accounting standards as prescribed have been followed & reported
wherever applicable.
3. In the Opinion of the Board the current assets, loans and advances
will fetch the amounts stated, if realized in the ordinary course of
business and adequate provision for all known liabilities of the
company has been made. Balances shown under Loans, Advances, Sundry
Debtors & Creditors are subject to confirmation, reconciliation and
subsequent adjustment if any.
4. a) According to management, Company has not given any guarantee on
behalf of the Directors or other officers.
5. The Company has not received information from vendors/suppliers
regarding their status under the " Micro , Small & Medium Enterprises
Act, 2006" and hence disclosure relating to amount unpaid for the
period end together with interest paid or payable under this Act has
not been given.
6. According to management, No litigations are filed against or pending
against the Company. Company does not have any present obligation
arising out of any past event. Hence no provision arises or is made for
contingent liabilities.
7. Previous Year''s figures have been regrouped / reclassified wherever
considered necessary to make them compa- rable with the current year
figures.
8. Fees paid to Auditor -
Particulars Amount
For Statutory Audit 11236/-
For other work -
9. Earning Per Share (on Face Value of Rs.10/- each)
In determining the Earnings Per share, the company considers the net
profit after tax which includes any post tax effect of any
extraordinary / exceptional item. The number of shares used in
computing basic earnings per share is the weighted average number of
shares outstanding during the period.
The number of shares used in computing Diluted earnings per share
comprises the weighted average number of shares considered for
computing Basic Earnings per share and also the weighted number of
equity shares that would have been issued on conversion of all
potentially dilutive shares.
In the event of issue of bonus shares, or share split the number of
equity shares outstanding is increased without an increase in the
resources. The number of Equity shares outstanding before the event is
adjusted for the propor- tionate change in the number of equity shares
outstanding as if the event had occurred at the beginning of the
earliest period reported.
Basic Earning Per Share - (0.10)
Profit/(Loss) after Tax / Weighted Avg. Shares Outstanding = 1136974/
11010950 = (Rs.0.37)
Diluted Earning Per Share - (0.10)
Profit/(Loss) after Tax / Weighted Avg. Shares Outstanding = 1136974/
11010950 = (Rs.0.37)
Diluted EPS is similar to Basic EPS as there are no potential equity
share as on date.
10. Flat Advance Deposit of Rs.60Lacs paid to Sunil Mantri Realty Pvt.
Ltd. is in dispute from Sunil Mantri Realty Pvt. Ltd. & Company has
filed case against the same and management is of high opinion that same
will be surely recoverable & hence no provision is made towards the
same.
11. Companies main object is of Infotech Activity but has carried out
Finance Activity which is other than its main object & has applied for
cancellation of its NBFC License with RBI & has not complied with said
regulations.
12. Expenditure above Rs.1 Lac or 1% of Revenue (whichever is higher)
is duly reflected in Schedule of Other Expenses.
13. As none of the employees have completed the minimum length of
service as provided in payment of gratuity Act, 1972, no provision for
gratuity is required to be made.
Mar 31, 2013
1. Figures have been rounded off to the nearest rupee, wherever
required.
2. Accounting standards as prescribed have been followed & reported
wherever applicable.
3. In the Opinion of the Board the current assets, loans and advances
will fetch the amounts stated, if realized in the ordinary course of
business and adequate provision for all known liabilities of the
company has been made. Balances shown under Loans, Advances, Sundry
Debtors & Creditors are subject to confirmation, reconciliation and
subsequent adjustment if any.
4. a) According to management, Company has not given any guarantee on
behalf of the Directors or other Officers,
b) Company has advanced a total sum of Rs.43589950/- to Directors,
their Relatives and to other group companies.
5. As per the information provided by the Company there are no dues
outstanding, including interest as at 31''" March 2013 to Small and
Micro Enterprises as defined under Micro, Small and Medium Enterprises
Development (MSMED) Act,2006.
6. According to Company & its management, No litigations are filed or
pending against the Company & Company does not have any present
obligation arising out of any past events. Hence no provision arises or
is made for contingent liabilities.
7. Flat Advance Deposit of Rs.60Lacs paid to Sunil Mantri Realty Pvt.
Ltd. is in dispute from Sunil Mantri Realty Pvt. Ltd. & Company has
filed case against the same and management is of high opinion that same
will be surely recoverable.
8. Expenditure above Rs.l Lac or 1% of Revenue (whichever is higher)
is duly reflected in Schedule of Other Expenses.
9. Since the Company is not a broking Company, the quantitative
details are not required to be given as specified in clause 3 of part
11 of Schedule VI of the companies Act, 1956. Information with regard
to other matters specified in clause 4A, 4C and 4D of part II of the
sub-schedule VI of the companies Act, 1956 are either NIL or are not
applicable to the company for the year.
10. As none of the employees have completed the minimum length of
service as provided in payment of gratuity Act, 1972, no provision for
gratuity is required to be made.
11. During the year, Company has completely written off Distribution
Rights of Film "Boss" amounting to Rs. 1,00,00,000/-.
12. Company has carried out object other than its Main Object & has
not fully complied with NBFC regulations & renewed its registration.
13. Related party transactions are duly informed and reflected in
Significant Accounting Policies.
14. Previous year''s figures have been regrouped and/or re arranged
wherever considered necessary.
Mar 31, 2012
1. Income/ (Loss) from Interest include-
i) Net Income from Interest is Rs.5786185/-. (Previous year 4665903/-)
ii) Dividend received on Securities is Rs.2550/-(Previous year
Rs.5,250/-).
2. Dues which management feels are not recoverable are written off
during the year as Bad Debt.
3. Balances shown under Loans, Advances, Sundry Debtors & Creditors
are subject to confirmation, reconciliation and subsequent adjustment
if any.
4. In the opinion of the Board, the current assets, loans and advances
have a value on realisation in the ordinary course of business at least
equal to the amount at which they are stated in the accounts unless
otherwise stated and adequate provision for all known liabilities of
the company has been made.
5. Since the Company is not a broking Company, the quantitative
details are not required to be given as specified in clause 3 of part
11 of Schedule VI of the companies Act, 1956. Information with regard
to other matters specified in clause 4A, 4C and 4D of part II of the
sub-schedule VI of the companies Act, 1956 are either NIL or are not
applicable to the company for the year.
6. As none of the employees have completed the minimum length of
service as provided in payment of gratuity Act, 1972, no provision for
gratuity is required to be made.
7. Related party transactions are duly informed and reflected in
Report to Corporate Governance.
8. Previous year's figures have been regrouped and/or re arranged
wherever considered necessary.
Mar 31, 2010
1. REVENUE RECOGNITION
Interest on Loans is provided @ as agreed with respective parties and
same is made on annual basis. Dividend income is recognised as and when
the right to receive dividend is established.
Interest and Brokerage Income are recognized on accrual basis except
specifically stated. Profit or losses from Investments/ Stock-in-trade
are recognised on trade dates on first-in-first out basis. Relevant
interests, Dividend are credited to the trade account on accrual basis
at the yearend. In respect of contracts relating to shares settled
without deliveries profit or losses recognized on the settlement dates.
2. EXPENDITURE
All the expenses comprising interest, rent and charges are provided on
accrual basis except certain petty expenses which are accounted on cash
basis.
3. TAXES ON INCOME
Current Charge for Income Tax including Deferred Tax, if any, is
calculated in accordance with the relevant tax regulations applicable
to the Company.
4. In respect of the long term Investments (non-trade), provision for
diminution in the value otherwise than temporary if any, has been made
by comparing acquisition cost plus any incidental expenses thereto to
the closing market value prevailing on 31!l March 2010 or in case of
unquoted shares book value based on previous year annual report of the
concerned Company as the case may be.
5. Income in investment is generally accounted on accrual basis
except where there is a uncertainty about the ultimate recovery/
realisation. Such income is recognised when uncertainty resolves.
6. EMPLOYEE RETIREMENT BENEFITS
Leave encashment liabilities is accounted for on cash basis as the
liability on the date of the Balance Sheet is not expected to be
material.
7. Material Events occurring after Balance Sheet date are taken into
cognizance.
8. PRIOR PERIOD AND EXTRA OWMNARY ITEMS
Prior period and Extra ordinary items and changes in Accounting
policies having material impact on the financial affairs of the
company, if any, have been disclosed.
7. Contingent liabilities are not provided for and are disclosed by
way of notes, if any.
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