Mar 31, 2015
1. No provision for employee retirement benefits has been made in the
accounts as there are no regular employees during the year.
Note: There is no secondary segment.
2. CURRENT ASSETS, LOANS & ADVANCES
In the opinion of the management, the current assets, loans and
advances are approximately of the value as stated, if realised in the
ordinary course of business.
3. CURRENT LIABILITIES
In the opinion of the management of the Company, there are no micro,
small and medium Enterprises, to whom the Company owes dues, which are
outstanding for more than 45 days as at March 31, 2015. The information
as required to be disclosed under the Micro, Small and Medium
Enterprises Development Act, 2006 has been determined to the extent
such parties have been identified on the basis of the information
available with the Company and have been relied upon by the statutory
auditors of the Company.
4. RELATED PARTY DISCLOSURES
a) Relationship
i) Joint Venture & Associates * Tiara Jewels Private Limited
ii) Key Management Personnel
Sh. Rohitjain
Sh. Parvesh Kumar Oberoi
Sh. Vinay Kumar Sharma
iii) Relatives of Key Management Personnel *
Sh. Jawahar Lai Jain Sh. Neeraj Jain Smt. Manju Jain
iv) Entities of Key Management Personnel *
Jawahar Lai Jain (HUF)
* With whom the Company had transactions during the year.
5. EARNINGS PER SHARE
Basic earnings per equity share has been computed by dividing net
profit after tax by the weighted average number of equity shares
outstanding for the period. Diluted earnings per equity share have
been computed using the weighted average number of equity shares and
dilutive potential equity shares outstanding during the year.
6. DEPRECIATION
In terms of Schedule II to the Companies Act, 2013 read together with
Accounting Standard 6 (AS - 6) "Depreciation Accounting", the
management of the Company has applied the estimated useful lives as
specified in Schedule II with effect from lstApril, 2014, as disclosed
in Accounting Policy on Fixed Assets and Depreciation. In terms of
these evaluations, the useful lives of certain assets required changes
from their previous estimates, the effect of the same is not material.
7. INCOME TAX Current Tax
Provision for Income tax has been made as per Income-tax Act, 1961.
Deferred Tax
In compliance with Accounting Standard (AS-22) relating to "Accounting
for Taxes on Income" issued under Companies (Accounting Standards) Rule
2014, as amended upto date, the Company has provided Deferred Tax Asset
accruing during the year aggregating to Rs. 4,300/- (Previous Year
Deferred Tax Asset Rs. 100/-) and it has been recognized in the
Statement of Profit & Loss. In accordance with clause 29 of Accounting
Standard (AS 22) Deferred Tax Assets and Deferred Tax Liabilities have
been set off.
8. LEASES
Operating leases are mainly in the nature of lease of office premises
with no restrictions and are renewable/ cancellable at mutual consent.
There are no restrictions imposed by lease arrangements. 1'here are no
sub leases.
Lease payments recognized in the statement of profit and loss are Rs.
1,77,396/- (Previous Year Rs. 1,68,416/-).
9. The Company has re-grouped/reclassified previous year's figures to
conform to current year's classification. Paise have been rounded off
to nearest rupee.
Mar 31, 2014
1. a) CONTINGENT LIABILITIES:
S. Particulars 31.03.2014 31.03.2013
No.
i) Claims against the company not Nil Nil
acknowledged as debt
ii) Guarantees Nil Nil
iii) Other money for which the company is Nil Nil
contingently liable
b) COMMITMENTS:
S. Particulars 31.03.2014 31.03.2013
No.
i) Estimated amount of contracts Nil Nil
remaining to be executed on capital
account and not provided for
ii) Uncalled liability on shares and
other investment partly paid Nil Nil
iii) Other commitments Nil Nil
2. No provision for employee retirement benefits has been made in the
accounts as there are no regular employees during the year.
3. CURRENT LIABILITIES
In the opinion of the management of the Company, there are no micro,
small and medium Enterprises, to whom the Company owes dues, which are
outstanding for more than 45 days as at March 31, 2014. The information
as required to be disclosed under the Micro, Small and Medium
Enterprises Development Act, 2006 has been determined to the extent
such parties have been identified on the basis of the information
available with the Company and have been relied upon by the statutory
auditors of the Company.
4. EARNINGS PER SHARE
Basic earnings per equity share has been computed by dividing net
profit after tax by the weighted average number of equity shares
outstanding for the period.
Diluted earnings per equity share have been computed using the weighted
average number of equity shares and dilutive potential equity shares
outstanding during the year.
5. INCOME TAX
Current Tax *
Provision for Income tax has been made as per Income-tax Act, 1961.
Deferred Tax
In compliance with Accounting Standard (AS-22) relating to "Accounting
for Taxes on Income" issued under Companies (Accounting standards) Rule
2006, as amended upto date, the Company has provided Deferred Tax Asset
accruing during the year aggregating to Rs. 100/- (Previous Year
Deferred Tax Liability of Rs. 800/-) and it has been recognized in the
Statement of Profit & Loss. In accordance with clause 29 of Accounting
Standard (AS 22) Deferred Tax Assets and Deferred Tax Liabilities have
been set off.
6. LEASES
Operating leases are mainly in the nature of lease of office premises
with no restrictions and are renewable/ cancellable at mutual consent.
There are no restrictions imposed by lease arrangements. There are no
sub leases.
Lease payments recognized in the statement of profit and loss are Rs.
1,68,416/- (Previous Year Rs.1,58,560/-).
7. The Company has re-grouped/reclassified previous year''s figures to
conform to current year''s classification. Paise have been rounded off
to nearest rupee.
Mar 31, 2013
1.1 a) CONTINGENT LIABILITIES:
S.
No.Particulars 31.03.2013 31.03.2012
i) Claims against the company not Nil Nil
acknowledged as debt
ii) Guarantees Nil Nil
iii) Other money for which the company is Nil Nil
contingently liable
1.2 No provision for employee retirement benefits has been made in the
accounts as there are no regular employees during the year.
1.3 CURRENT ASSETS, LOANS & ADVANCES
In the opinion of the management, the current assets, loans and
advances are approximately of the value as stated if realised in the
ordinary course of business.
1.4 CURRENT LIABILITIES
In the opinion of the management of the Company, there are no micro,
small and medium Enterprises, to whom the Company owes dues, which are
outstanding for more than 45 days as at March 31, 2013. The information
as required to be disclosed under the Micro, Small and Medium
Enterprises Development Act, 2006 has been determined to the extent
such parties have been identified on the basis of the information
available with the Company and have been relied upon by the statutory
auditors of the Company.
1.5 RELATED PARTY DISCLOSURES a) Relationship
i) Subsidiary Company
Tiara Jewels Private Limited (till 31.12.2012)
ii) Joint Venture & Associates *
Tiara Jewels Private Limited (-w.e.f. 01.01.2013)
iii) Key Management Personnel
Sh. Jawahar Lai Jain
Sh. Neeraj Jain
Sh. Rohit Jain
Smt. Manju Jain
Sh. Parvesh Kumar Oberoi
Sh. Vinay Kumar Sharma
iv) Relatives of Key Management Personnel *
None
v) Entities of Key Management Personnel *
Jawahar Lai Jain (HUF)
* With whom the Company had transactions during the year.
1.6 EARNINGS PER SHARE
Basic earnings per equity share has been computed by dividing net
profit after tax by the weighted average number of equity shares
outstanding for the period. Diluted earnings per equity share have
been computed using the weighted average number of equity shares and
dilutive potential equity shares outstanding during the year.
1.7 INCOME TAX
Current Tax
Provision for Income tax has been made as per Income-tax Act, 1961.
Deferred Tax
In compliance with Accounting Standard (AS-22) relating to "Accounting
for Taxes on Income" issued under Companies (Accounting standards) Rule
2006, as amended upto date , the Company has provided Deferred Tax
Liability accruing during the year aggregating to Rs. 800/- (Previous
Year Figure Rs 6,400/-) and it has been recognized in the Statement of
Profit & Loss. In accordance with clause 29 of Accounting Standard (AS
22) Deferred Tax Assets and Deferred Tax Liabilities have been set off.
1.8 LEASES
Operating leases are mainly in the nature of lease of office premises
with no restrictions and are renewable/ cancellable at mutual consent.
There are no restrictions imposed by lease arrangements. There are no
sub leases.
Lease payments recognized in the statement of profit and loss are Rs.
1,58,560/- (Previous Year Figure Rs.1,49,600/-).
1.9 The shareholding of Company in Tiara Jewels Pvt. Ltd. has reduced
from 100% to 43.91% and hence Tiara Jewels Pvt. Ltd has ceased to be a
Subsidiary of the company and has become an Associate w.e.f.
01.01.2013.
1.10 The Company has re-grouped/reclassified previous year''s figures to
conform to current year''s classification. Paise have been rounded off
to nearest ruppe.
Mar 31, 2012
1.1 No provision for employee retirement benefits has been made in the
accounts as there are no regular employees during the year.
1.2 CURRENT ASSETS, LOANS & ADVANCES
In the opinion of the management, the current assets, loans and
advances are approximately of the value as stated if realised in the
ordinary course of business.
1.3 CURRENT LIABILITIES
In the opinion of the management of the Company, there are no micro,
small and medium Enterprises, to whom the Company owes dues, which are
outstanding for more than 45 days as at March 31, 2012. The information
as required to be disclosed under the Micro, Small and Medium
Enterprises Development Act, 2006 has been determined to the extent
such parties have been identified on the basis of the information
available with the Company and have been relied upon by the statutory
auditors of the Company.
1.4 RELATED PARTY DISCLOSURE a) Relationship
i) Subsidiary Company
Tiara Jewels Private Limited - 100 % Subsidiary ii) Joint Venture &
Associates *
None iii) Key Management Personnel
Sh. Jawahar Lai JainA Sh. Neeraj Jain A Sh. Rohit Jain Smt. Manju JainA
Sh. Parvesh Kumar Oberoiî Sh. Vinay Kumar Sharmaî Aupto 01.03.2012
@w.e.f. 02.03.2012
iv) Relatives of Key Management Personnel *
Sh. Jawahar Lai Jain # Sh. Neeraj Jain # Smt. Manju Jain# Smt. Tina
Jain
#w.e.f. 02.03.2012
v) Entities of Key Management Personnel *
Jawahar Lai Jain (HUF)
*With whom the Company had transactions during the year.
1.5 EARNINGS PER SHARE
Basic earnings per equity share has been computed by dividing net
profit after tax by the weighted average number of equity shares
outstanding for the period. Diluted earnings per equity share have
been computed using the weighted average number of equity shares and
dilutive potential equity shares outstanding during the year.
1.6 INCOME TAX
Current Tax
Provision for Income tax has been made as per Income-tax Act, 1961.
Deferred Tax
In compliance with Accounting Standard (AS-22) relating to "Accounting
for Taxes on Income" issued under Companies (Accounting standards) Rule
2006, as amended upto date , the Company has provided Deferred Tax
Liability accruing during the year aggregating to Rs. 6,400/- and it
has been recognized in the Statement of Profit & Loss. In accordance
with clause 29 of Accounting Standard (AS 22) Deferred Tax Assets and
Deferred Tax Liabilities have been set off.
1.7 LEASES
Operating leases are mainly in the nature of lease of office premises
with no restrictions and are renewable/ cancellable at mutual consent.
There are no restrictions imposed by lease arrangements. There are no
sub leases.
Lease payments recognized in the statement of profit and loss are
Rs.1,49,600/ - (Previous Year Rs.1,12,340/-).
1.8 Due to applicability of Revised Schedule VI with effect from
current financial year, the Company has reclassified previous year's
figures to conform to this year's classification. Paise have been
rounded off to nearest rupee.
Mar 31, 2011
1. Contingent Liabilities: Nil ( Previous Year: Nil)
2. The Company had no manufacturing activities during the year
(Previous Year: Nil)
3. No provision for gratuity and other retirement benefits has made in
the accounts as there are no employees who have put in qualifying
period of service to be eligible for these benefits.
4. Estimated amounts of contracts remaining to be executed on capital
account and not provided for - Nil
5. In the opinion of the Director of the Company the current assets,
loans and advances are approximately of the value as stated if realised
in the ordinary course of business.
6. Expenditure incurred on employees getting remuneration not less
than Rs. 60/00,000/- p.a. in respect of persons employed throughout
the year and/or not less than Rs. 5,00,000/- p.m. in respect of persons
employed for part of the years is Nil.
7. Particulars of payments made to auditors :
a. Statutory Audit Fees Rs. 20,000.00
b. Tax Audit Fees Rs. 10,000.00
c. Service Tax ' Rs. 3,090.00
8. In the opinion of the management of the Company, there are no
micro, small and medium Enterprises, to whom the Company owes dues,
which are outstanding for more than 45 days as at March 31, 2011. The
information as required to be disclosed under the Micro, Small and
Medium Enterprises Development Act, 2006 has been determined to the
extent such parties have been identified on the basis of the
information available with the Company and have been relied upon by the
statutory auditors of the Company.
9. RELATED PARTY DISCLOUSER (as per AS 18)
a. List of related parties
i. Subsidiary Company
Tiara Jewels Private Limited - 100 % Subsidiary
ii. Joint Venture & Associates * None
iii. Key Management Personnel Sh. Jawahar Lai Jain Sh. Neeraj Jain Sh.
Rohit Jain Smt. Manju Jain
iv. Relatives of Key Management Personnel * None
v. Entities of Relatives of Key Management Personnel * Jawahar Lai
Jain (HUF) .
* With whom the Company had transactions during the year.
10. Provision Of Income Tax
As per Income Tax Act, the Company has incurred losses during the year,
Consequently, in the opinion of the management, there will be no income
tax liability for the current year. Provision for Minimum Alteration
Tax (MAT) has not been made in view of book loss.
11. Taxes on Income (AS 22)
In view of brought forward losses, the Company has not provided for
Deferred Tax Assets, adhering to concept of conservatism.
12. Additional Information Pursuant to Paragraphs 3 & 4 Part II of
Schedule VI of the Companies Act, 1956 (as certified by the management
and relied upon by the Auditors)
a) Particulars of Installed Capacities and Actual Production - Not
Applicable
c) Consumption of Raw Materials - Not Applicable
d) Imports on CIF Basis - Nil
e) Expenditure in Foreign Currency - Nil
f) Dividend to Non-Resident Shareholders - Nil
g) Earnings in Foreign Exchange - Nil
13. Previous year figures have been re-grouped and re-arranged wherever
considered necessary
14. Balance Sheet abstract and company's general business profile is
given in Annexure XV-A
Mar 31, 2010
1. Contingent Liabilities: Nil ( Previous Year: Nil)
2. The Company had no manufacturing activities during the year
(Previous Year: Nil)
3. No Provision for Gratuity has made in the accounts as no employee
has put in qualifying period of service to be eligible for gratuity.
4. SEGEMENTAL REPORTING (as per AS 17)
The Company operates in single business segment, So there is no
segmental reporting as required under AS 17 issued by The Institute of
Chartered Accountants of India.
5. RELATED PARTY DISCLOUSER (as per AS 18)
a. List of related parties
i. Joint Venture / Associate Concerns / Subsidiary Company *
Tiara Jewels Private Limited - 100 % Subsidiary
ii. Key Management Personnel
Sh. Nagesh Agganval #
Sh. Jawahar Lai Jain
Sh. Neeraj Jain
Sh. Rohit Jain
Smt. Manju Jain A
iii. Relatives of Key Management Personnel *
Sh. Neeraj Aggarwal #
iv. Entities of Relatives of KMP *
Aniket N Aggarwal & Co. #
# Upto 23rd Sept. 2009
w.e.f. 23rd Sept. 2009
* With whom the Company had transactions during the year.
7. Porvision of Income Tax
As per income Tax Act. the company is carrying forward business losses
and unabaled deprecciation. Consequently, in the opinion of the
management, there will be no income tax liability for the current year.
Provision for Minimum Alteration Tax (MAT) has not been made in view of
book loss.
8. Taxes on Income (AS 22)
In view of huge brought forward losses, the Company has not provided
for Deferred Tax Assets, adhering to concept of conservatism.
9. Additional Inlormation Pursuant to Paragraphs 3 & 4 Part II of
Schedule VI of the Companies Act, 1956 (as certified by the management and
relied upon by the Auditors)
a) Particulars of Installed Capacities and Actual Production - Not
Applicable
b) Quantitative information about Opening Stock, Purchases, Sales and
Closing Stock of goods traded:
c) Consumption of Raw Materials - Not Applicable
d) Imports on CIF Basis - Nil
e) Expenditure in Foreign Currency-Nil
f) Dividend to Non-Resident Shareholders - Nil
g) Earnings in Foreign Exchange - Nil
10. Previous year figures have been re-grouped and re-arranged wherever
considered necessary
11. Balance Sheet abstract and companys general business profile is
given in Annexure XIX-A