Mar 31, 2015
1. - Terms/rights attached to equity shares
The Company has only one class of shares having a par value of Rs 10
per share. Each shareholder is eligible for one vote per share held and
will rank pari passu with each other in all respects. The dividend, if
and when declared by the Company, will be paid in Indian Rupees after
approval of the approval of shareholders in the annual general meeting.
In the event of liquidation, the equity shareholders are eligible to
receive the remaining assets of the Company after distribution of all
preferential amounts, in proportion in their shareholding.
2. ADDITIONAL NOTES TO THE ACCOUNTS
1 In respect of investments, no provision has been made in the accounts
for the diminution in the value of investments of Rs 0.50 lakhs.
2 Cash on hand, as at March 31, 2015, was physically verified by the
Management and a certificate in respect of such verification has been
duly furnished to the Auditors.
3 Balances of some of the bank accounts, which are inactive for a
considerable period of time, are subject to confirmation.
4 No provision for taxation has been made in the accounts in view of
the losses for the year.
5 Deferred tax liability or asset has not been recognized in the
accounts in view of the absence of any timing differences..
6 As the Company's business activity falls within a single primary
segment, the disclosure requirement of Accounting Standard 17 "Segment
Reporting", issued by the Institute of Chartered Accountants of India,
is not applicable.
7 Related party disclosures  i Name of the related party and nature of
relationship :
Ritesh H Patel Executive Director
Akash H Patel Non Executive Director
Pratik J Mehta Non Executive Director
Vijay I Patel Non Executive Director (Resigned w.e.f March 31, 2015)
Meena Mistry Non Executive Director (Appointed wef March 31, 2015)
Hem Exim Private Limited Company under the same management
Mar 31, 2014
1.1 - Terms/rights attached to equity shares
The Company has only one class of shares having a par value of Rs 10
per share. Each shareholder is eligible for one vote per share held and
will rank pari passu with each other in all respects. The dividend, if
and when declared by the Company, will be paid in Indian Rupees after
approval of the approval of shareholders in the annual general meeting.
In the event of liquidation, the equity shareholders are eligible to
receive the remaining assets of the Company after distribution of all
preferential amounts, in proportion in their shareholding.
As per the records of the Company, including its register of
shareholders/members and other declarations received from shareholders
regarding beneficial interest, the above shareholding represents both
legal and beneficial ownership of shares, except 23,000 equity shares
which are in the process of being transferred in the name of Renaud
Infracons LLP.
2 ADDITIONAL NOTES TO THE ACCOUNTS
1 In respect of investments, no provision has been made in the accounts
for the diminution in the value of investments of Rs 0.50 lakhs.
2 Cash on hand, as at March 31, 2014, was physically verified by the
Management and a certificate in respect of such verification has been
duly furnished to the Auditors.
3 Balances of some of the bank accounts, which are inactive for a
considerable period of time, are subject to confirmation.
4 No provision for taxation has been made in the accounts in view of
the losses for the year.
5 Deferred tax liability or asset has not been recognized in the
accounts in view of the absence of any timing differences..
6 As the Company''s business activity falls within a single primary
segment, the disclosure requirement of Accounting Standard 17 "Segment
Reporting", issued by the Institute of Chartered Accountants of India,
is not applicable.
3 Related party disclosures Â
i Name of the related party and nature of relationship :
Suresh V Iyer Executive Director (Resigned wef 18.03.2014)
Nisar Khatib Non Executive Director (Resigned wef 18.03.2014)
Jagdish Raut Non Executive Director (Resigned wef 18.03.2014)
Ritesh H Patel Executive Director (Appointed wef 24.01.2014)
Akash H Patel Non Executive Director (Appointed wef 18.03.2014)
Pratik J Mehta Non Executive Director (Appointed wef 18.03.2014)
Vijay I Patel Non Executive Director (Appointed wef 18.03.2014)
Hem Exim Private Limited Company under the same management
4 Previous year figures are regrouped and rearranged, wherever
necessary, to conform to this year''s classification.
Mar 31, 2013
1. In respect of investments no provision has been made in the accounts
for the diminution in the value of investments of Rs, 0.50 lakhs.
2 Cash on hand, as at March 31.2013,was physically verified by the
Management and a certificate in respect of such verification has been
duly furnished to the Auditor.
3 Balances of some of the bank accounts are subject to conformation
4 Long term advances given are Subject to confirmation.
5 No provision for taxation has been made in the accounts in view of
the loss for the year.
6 The Company has unabsorbed deprecation and carried forward losses
available for it off under the Income Tax Act. 1961. However in view of
present uncertainty regarding generation of Sufficient future taxable
Income, the provision be deferred 1961 liability net Of deferred tan
assets at the yearend including related credit for the year have not
been recognized In these accounts on prudent basis.
7 As the Company''s business activity falls within single primary
segment, the disclosure requirement of Accounting Standard 17 "Segment
portage", issued by the Institute of Chartered Accounts of India is
not of applicable.
8 Previous year figures are remapped and rearranged, wherever
necessary, to conform to this year''s classification.
Mar 31, 2012
1.1 - Terms/rights attached to equity shares
The Company has only one class of shares having a par value of Rs 10
per share. Each shareholder is eligible for one vote per share held and
will rank pari passu with each other in all respects. The dividend' if
and when declared by the Company' will be paid in Indian Rupees after
approval of the approval of shareholders in the annual general meeting.
In the event of liquidation' the equity shareholders are eligible to
receive the remaining assets of the Company after distribution of all
preferential amounts' in proportion in their shareholding.
2 ADDITIONAL NOTES TO THE ACCOUNTS
1 In respect of investments' no provision has been made in the accounts
for the diminution in the value of investments of Rs 0.50 lakhs.
2 Cash on hand' as at March 31' 2012' was physically verified by the
Management and a certificate in respect of such verification has been
duly furnished to the Auditors.
3 Balances of some of the bank accounts are subject to confirmation.
4 Long term advances given are subject to confirmation.
5 No provision for taxation has been made in the accounts in view of
the loss for the year.
6 The Company has unabsorbed depreciation and carried forward losses
available for set off under the Income Tax Act' 1961. However in view
of present uncertainty regarding generation of sufficient future
taxable income' the provision for deferred tax liability net of
deferred tax assets at the year end including related credit for the
year have not been recognized in these accounts on prudent basis.
7 As the CompanyÃs business activity falls within a single primary
segment' the disclosure requirement of Accounting Standard 17 ÃSegment
ReportingÃ' issued by the Institute of Chartered Accountants of India'
is not applicable.
8 The Company has settled with Wall Street Finance Limited' one of the
creditors' who had filed a winding up petition against the Company
before the Honourable Mumbai High Court. Consequently Wall Street
Finance Limited has withdrawn the winding up petition.
9 Related party disclosures Ã
i Name of the related party and nature of relationship :
Suresh V Iyer Executive Director
Nisar Khatib Non Executive Director
Jagdish Raut Non Executive Director
10 Previous year figures are regrouped and rearranged' wherever
necessary' to conform to this yearÃs classification.
Mar 31, 2011
1 Out of the issued and paid up capital of the Company,
a 150000 equity shares of the face value of Rs 10 each have been issued
as fully paid up bonus shares by utilisation of Rs 1500000 from the
Profit and Loss Account during the year ended March 31, 1994
b 1315550 equity shares of the face value of Rs 10 each have been
issued as fully paid up bonus shares by utilisation of Rs 13155500 from
the Profit and Loss Account during the year ended March 31, 1995
c 1834450 equity shares of the face value of Rs 10 each have been
issued as fully paid up bonus shares by utilisation of Rs 18344500 from
the Revaluation Reserve during the year ended March 31, 1995
2 Contingent liabilities :
Penalties/interest, if any, in respect of delayed/non payment of tax
deducted at source, corporate taxes, service tax, provident fund and
employees' state insurance dues - amounts unascertainable.
3 In respect of investments, no provision has been made in the accounts
for the diminution in the value of investments of Rs 0.40 lakhs.
4 In respect of inter corporate deposits obtained by the Company, the
amounts thereto have been written back during the year under review as,
in the opinion of the management, the deposits have become time barred
and the said liabilities are not sustainable anymore.
5 Balances reflected under the heads sundry debtors and sundry
creditors are subject to confirmation/ reconciliation. In respect of
sundry creditors to the extent of Rs 7,500,000, which are, in the
opinion of the management, not payable anymore have been written back
during the year under review. But the management recognizes the
contingent liability in this regard if and when it arises.
6 Cash on hand, as at March 31, 2011, was physically verified by the
Management and a certificate in respect of such verification has been
duly furnished to the Auditors.
7 Balances of some of the bank accounts are subject to confirmation.
8 Advances recoverable in cash or in kind or for value to be received
are subject to confirmation.
9 No provision for taxation has been made in the accounts in view of
the loss for the year.
10 The Company has unabsorbed depreciation and carried forward losses
available for set off under the Income Tax Act, 1961. However in view
of present uncertainty regarding generation of sufficient future
taxable income, the provision for deferred tax liability net of
deferred tax assets at the year end including related credit for the
year have not been recognized in these accounts on prudent basis.
11 As the Company's business activity falls within a single primary
segment, the disclosure requirement of Accounting Standard 17 "Segment
Reporting", issued by the Institute of Chartered Accountants of India,
is not applicable.
12 A winding up petition has been filed against the Company by one of
the creditors, Wall Street Finance Limited and the petition is under
review before the Honourable Mumbai High Court. However provisional
liquidator stands appointed.
13 Information required to be furnished pursuant to Part IV of Schedule
VI to the Companies Act, 1956 is enclosed in Annexure A.
Mar 31, 2010
1. Contingent liabilities :
Penalties/interest, if any, in respect of delayed/non payment of tax
deducted at source, corporate taxes, service tax, provident fund and
employees' state insurance dues - amounts unascertainable.
2. In respect of investments, no provision has been made in the accounts
for the diminution in the value of investments of Rs. 0.35 lakhs.
3. In respect of inter corporate deposits obtained by the Company no
provision has been made in respect of interest payable thereon for the
year ended March 31, 2010. The quantum of such interest payable is
unascertainable.
4. Balances reflected under the heads sundry debtors and sundry
creditors are subject to confirmation/ reconciliation.
5. Cash on hand, as at March 31, 2010, was physically verified by the
Management and a certificate in respect of such verification has been
duly furnished to the Auditors.
6. Balances of some of the bank accounts are subject to confirmation.
7. Advances recoverable in cash or in kind or for value to be received
are subject to confirmation.
8. No provision for taxation has been made in the accounts in view of
the loss for the year.
9. The Company has unabsorbed depreciation and carried forward losses
available for set off under the Income Tax Act, 1961. However in view
of present uncertainty regarding generation of sufficient future
taxable income, the provision for deferred tax liability net of
deferred tax assets at the year end including related credit for the
year have not been recognized in these accounts on prudent basis.
10. As the Company's business activity falls within a single primary
segment, the disclosure requirement of Accounting Standard 17 ÃSegment
ReportingÃ, issued by the Institute of Chartered Accountants of India,
is not applicable.
11. A winding up petition has been filed against the Company by one of
the creditors, Wall Street Finance Limited and the petition is under
review before the Honourable Mumbai High Court. However provisional
liquidator stands appointed.
Mar 31, 2009
1 Out of the issued and paid up capital of the Company,
a 150000 equity shares of the face value of Rs 10 each have been issued
as fully paid up bonus shares by utilisation of Rs 1500000 from the
Profit and Loss Account during the year ended March 31, 1994
b 1315550 equity shares of the face value of Rs 10 each have been
issued as fully paid up bonus shares by utilisation of Rs 13155500 from
the Profit and Loss Account during the year ended March 31, 1995
c 1834450 equity shares of the face value of Rs 10 each have been
issued as fully paid up bonus shares by utilisation of Rs 18344500 from
the Revaluation Reserve during the year ended March 31, 1995
2 Contingent liabilities :
Penalties/interest, if any, in respect of delayed/non payment of tax
deducted at source, corporate taxes, service tax, provident fund and
employees' state insurance dues - amounts unascertainable.
3 In respect of investments, no provision has been made in the accounts
for the diminution in the value of investments of Rs 0.35 lakhs.
4 In respect of inter corporate deposits obtained by the Company no
provision has been made in respect of interest payable thereon for the
year ended March 31, 2009. The quantum of such interest payable is
unascertainable.
5 Balances reflected under the heads sundry debtors and sundry
creditors are subject to confirmation/ reconciliation.
6 Cash on hand, as at March 31, 2009, was physically verified by the
Management and a certificate in respect of such verification has been
duly furnished to the Auditors.
7 Balances of some of the bank accounts are subject to confirmation.
8 Advances recoverable in cash or in kind or for value to be received
are subject to confirmation.
9 No provision for taxation has been made in the accounts in view of
the loss for the year.
10 The Company has unabsorbed depreciation and carried forward losses
available for set off under the Income Tax Act, 1961. However in view
of present uncertainty regarding generation of sufficient future
taxable income, the provision for deferred tax liability net of
deferred tax assets at the year end including related credit for the
year have not been recognized in these accounts on prudent basis.
11 As the Company's business activity falls within a single primary
segment, the disclosure requirement of Accounting Standard 17 "Segment
Reporting", issued by the Institute of Chartered Accountants of India,
is not applicable.
12 Information required to be furnished pursuant to Part IV of Schedule
VI to the Companies Act, 1956 is enclosed in Annexure A.