Mar 31, 2015
1. a) Taxes on Income:
Provision for Income Tax is made in accordance with the Income Tax Act,
1961
Accounting Standard 22 - Taxes on Income
Current tax is determined as the amount of tax payable in respect of
taxable income for the year. The deferred tax for timing difference
between the book profit and tax profit for the year is accounted using
tax rates and tax laws that have been enacted or substantially enacted
at the Balance Sheet date. Deferred Tax assets arising from the timing
difference are recognized to the extent that there is reasonable
certainty that sufficient future taxable income will be available.
2. Contingent Liability (Rs. in lacs)
2015 2014
IT Cases in appeal 526.06 526.06
3. Small Scale Industrial Undertakings:
Name of Small Scale Industrial under takings to whom the company owes a
sum exceeding Rs. 1,00,000/- which is outstanding for more than 30 days
:- Nil
4. Deferred Revenue Expenditure:
Preliminary expenses are amortized in five equal annual installments.
5. In the opinion of the Board current assets, loans & advances have
value of realization in the ordinary course of business at least equal
to the amount of which they are stated and that provision for known
liabilities is adequate and not in excess of the amount reasonably
necessary.
6. Previous year figures have been regrouped and rearranged wherever
considered necessary.
Mar 31, 2014
1. Taxes on Income:
Provision for Income Tax is made in accordance with the Income Tax Act,
1961
Accounting Standard 22 - Taxes on Income
Current tax is determined as the amount of tax payable in respect of
taxable income for the year. The deferred tax for timing difference
between the book profit and tax profit for the year is accounted using
tax rates and tax laws that have been enacted or substantially enacted
at the Balance Sheet date. Deferred Tax assets arising from the timing
difference are recognized to the extent that there is reasonable
certainty that sufficient future taxable income will be available.
2. Contingent Liability
(Rs. in lacs)
2014 2013
IT Cases in appeal 526.06 526.06
Contingent Liabilities are generally not provided in the books of
accounts.
3. Small Scale Industrial Undertakings:
Name of Small Scale Industrial under takings to whom the company owes a
sum exceeding Rs. 1,00,000/- which is outstanding for more than 30 days
:- NM
4. Deferred Revenue Expenditure:
Preliminary expenses are amortized in five equal annual installments.
5. In the opinion of the Board current assets, loans & advances have
value of realization in the ordinary course of business at least equal
to the amount of which they are stated and that provision for known
liabilities is adequate and not in excess of the amount reasonably
necessary.
6. Previous year figures have been regrouped and rearranged wherever
considered necessary.
Mar 31, 2013
1. Contingent Liability Rs in Lacs
2013 2012
Bank Guarantee NIL NIL
Cases in Appeal 526.06 318.26
Other Liabilities NIL NIL
Contingent liabilities are generally not provided in the books of
accounts.
2 Small Scale Industrial Undertakings:
Name of Small Scale Industrial under takings to whom the company owes a
sum exceeding Rs. 1,00,000/- which is outstanding for more than 30
days:-Nil
3 Deferred Revenue Expenditure:
Preliminary expenses are amortized in five equal annual installments.
4 In the opinion of the Board current assets, loans & advances have
value of realization in the ordinary course of business at least equal
to the amount of which they are stated and that provision for known
liabilities is adequate and not in excess of the amount reasonably
necessary.
5 Previous year figures have been regrouped and rearranged wherever
considered necessary.
Mar 31, 2012
1. Contingent Liability
Rs in Lacs
2012 2011
Bank Guarantee NIL NIL
Cases in Appeal 318.26 318.26
Other Liabilities NIL NIL
Contingent liabilities
are generally not
provided in the books
of accounts.
Installed Capacity being a technical matter has been taken as certified
by the Management. Sales quantity is inclusive of Captive consumption
and Shortage.
Figures in bracket relate to previous year.
2 Small Scale Industrial Undertakings
Name of Small Scale Industrial under takings to whom the company owes a
sum exceeding Rs. 1,00,000/- which is outstanding for more than 30
days:- Nil
3 Deferred Revenue Expenditure
Preliminary expenses are being amortized in five equal annual
installments.
Repairs and maintenance of Sugar unit is amortized over lease period of
6 years.
4 In the opinion of the Board current assets, loans & advances have
value of realization in the ordinary course of business at least equal
to the amount of which they are stated and that provision for known
liabilities is adequate and not in excess of the amount reasonably
necessary.
5 Previous year figures have been regrouped and rearranged wherever
considered necessary.
Sep 30, 2011
A) Accounting Standard 17
The company is engaged in manufacturing as well as trading activity.
Segment wise information is as under:
Segments have been identified taking into account the nature of the
products, the different risks and returns, the organizational structure
and the internal reporting system.
b) Accounting Standard 19 - Lease
The Company has entered into an agreement in the nature of lease/leave
and license as under:
Office at Mumbai w.e.f. 31.01.2011
Sugar Unit w.e.f. 22.08.2006
c) Taxes on Income:
Provision for Income Tax is made in accordance with the Income Tax Act,
1961
Accounting Standard 22 - Taxes on Income
Current tax is determined as the amount of tax payable in respect of
taxable income for the year. The deferred tax for timing difference
between the book profit and tax profit for the year is accounted using
tax rates and tax laws that have been enacted or substantially enacted
at the Balance Sheet date. Deferred Tax assets arising from the timing
difference are recognized to the extent that there is reasonable
certainty that sufficient future taxable income will be available.
Installed Capacity being a technical matter has been taken as certified
by the Management.
Sales quantity is inclusive of Captive consumption and Shortage.
Figures in bracket relate to previous year.
Opening Stock, Purchases, Closing Stock & Sales of trading division
Quantity - Compost-In MT.
1 Small Scale Industrial Undertakings
Name of Small Scale Industrial under takings to whom the company owes a
sum exceeding Rs. 1,00,000/- which is outstanding for more than 30 days
:- Nil
2 Deferred Revenue Expenditure
Preliminary expenses are being amortized in five equal annual
installments. Repairs and maintenance of Sugar unit is amortized over
lease period of 6 years.
3 In the opinion of the Board current assets, loans & advances have
value of realization in the ordinary course of business at least equal
to the amount of which they are stated and that provision for known
liabilities is adequate and not in excess of the amount reasonably
necessary.
4 Previous year figures have been regrouped and rearranged wherever
considered necessary.
Sep 30, 2009
1 The company has changed its accounting year from March to September
vide ROC order dated 7th May, 2008. Accordingly, previous accounting
year was of 18 months ended 30th September, 2008.
2 The Company has issued 25,65,000 Convertible Warrants on 2nd
January,2008 at a price of Rs. 111/ -.The warrants were issued against
the payment of 10% and balance 90% was to be paid within 18 months. The
time limit has expired and therefore the amount received has been
forfeited and credited to reserve account.
The company has further alloted 2,08,88,000 Equity Shares as on 12th
Sep., 2009 at a premium of Rs. 2.50/- per share.
3 The Company has sub-divided the Equity Shares of Rs. 10/- each to
Rs. 5/- per share w.e.f. 20th May, 2008.
4 Previous year figures have been regrouped and rearranged wherever
considered necessary.