Mar 31, 2014
1. (A) Rights, Preference and Restrictions attached to Equity Shares
Equity Shareholder is entitled to one vote per share. The Company
declares dividend proposed by the Board of Directors, if any, is
subject to the approval of the shareholders in the ensuing Annual
General Meeting. Dividend is paid to the Equity Shareholders whose name
appears in the Registrar of Members as on AGM Date. In the even of
liquidation of the Company, the equity shareholders will be entitled to
receive any of the remaining assets of the Company, after distribution
of all preferential amounts. Distribution will be in proportion to the
number of equity shares held by the shareholders.
2. Disclosures required under section 22 of the Micro, Small and Medium
Enterprises Development Act, 2006
The Company has complied this information based on the current
information in its possession. As at 31st March, 2014, no supplier has
intimated the Company about its status as Micro or Small enterprise or
its registration with the appropriate authority and under the Micro,
Small and Medium Enterprises Development Act, 2006. However, in view of
the management the impact of interest if any, that may be payable in
accordance with provisions of this Act is not expected to be material.
3. Income Tax Provision
No Provision for Income Tax have been made as there is no profit during
the year.
4. Segment Reporting
The Company operates in only one business segment hence segment wise
reporting as required by AS 17 issued by Institute of Chartered
Accountant of India, is not applicable
5. Balance of Debtors and creditors and advances/deposits revived from
dealers/customers are as per book of accounts. Sundry creditors are
subject to confirmation and reconciliation, if any.
6. In the opinion of the Board of Directors and to the best of their
knowledge adequate provisions has been made in the accounts for all
known liabilities and the current assets, loan and advances have a
value on realization in the ordinary course of business.
Mar 31, 2013
1 Income Tax Provision
No Provision for Income Tax have been made as there is no profit during
the year.
2 Segment Reporting
The Company operates in only one business segment hence segment wise
reporting as required by AS 17 issued by Institute of Chartered
Accountant of India, is not applicable
3 Balance of Debtors and creditors and advances/deposites received
from dealers/customers are as per book of accounts. Sundry creditors
are subject to confirmation and reconciliation, if any.
4 In the opinion of the Board of Directors and to the best of their
knowledge adequate provisions has been made in the accounts for all
known liabilities and the current assets, loan and advances have a
value on realization in the ordinary course of business.
5 The Financial Statements have been prepared in the format prescribed
by the Revised Schedule VI to the Companies Act, 1956.
Mar 31, 2012
Rights, Preference and Restrictions attached to Equity Shares.
Equity Shareholder is entitiled to one vote per share. The Company
declares dividend proposed by the Board of Directors, if any, is
subject to the approval of the shareholders in the ensuing Annual
General Meeting. Dividend is paid to the Equity Shareholders whose name
appears in the Register of Members as on AGM Date. In the event of
liquidation of the Company, the equity shareholders will be entitled to
receive any of the remaining assets of the Company , after distribution
of all preferential amounts. Distribution will be in proportion to the
number of equity shares held by the shareholders .
Disclosures required under Section 22 of the Micro, Small and Medium
Enterprises Development Act, 2006
The Company has complied this information based on the current
information in its possession. As at March 31, 2012, no supplier has
intimated the Company about its status as Micro or Small enterprise or
its registration with the appropriate authority and under the Micro,
Small and Medium Enterprises Development Act, 2006. However, in view of
the management the impact of interest if any, that may be payable in
accordance with provisions of this Act is not expected to bematerial.
1. Income Tax Provision
No Provision for Income Tax have been made as there is no profit during
the year.
2. Segment Reporting
The Company operates in only one business segment hence segment wise
reporting as required by AS 17 issued by Institute of Chartered
Accountant of India, is not applicable
3. Balance of Debtors and creditors and advances/deposites received
from dealers/customers are as per book of accounts. Sundry creditors
are subject to confirmation and reconciliation, if any.
4. In the opinion of the Board of Directors and to the best of their
knowledge adequate provisions has been made in the accounts for all
known liabilities and the current assets, loan and advances have a
value on realization in the ordinary course of business.
5. Previous Year's Figures
Till the year ended March 31, 2011, the company was using pre-revised
Schedule VI to the Companies Act 1956, for preparation and presentation
of its financial statements. During the year ended March 31 2012, the
revised Schedule VI notified under the Companies Act, 1956, has become
applicable to the company. The company has reclassified previous year
figures to conform to the year's classification. It significantly
impacts presentation and disclosures made in the financial statements,
particularly presentation of balance sheet.
Mar 31, 2011
1. SHARE CAPITAL-SCHEDULE -1
(i) 14% Non-Cumulative Redeemable preference shares were redeemable on
or before 31st March 2001, at the discretion of the Board of Directors.
The Board of Directors have decided to extend the redemption up to 31st
March, 2012.
(ii) Call in arrears includes Rs.53.38 Lacs due towards share premium
(Previous year Rs.53.38 Lacs).
2. INVESTMENTS - SCHEDULE -
31st March'2011 31st March 2010
a. Market value of quoted investments: Rs.3.60 Lacs Rs. 4.15Lacs
b. Aggregate investments in Companies under same management Rs. 10
Lacs Previous year Rs.10 Lacs)
3. CURRENT ASSETS & LIABILITIES - SCHEDULE 7 & 8
a. During the year the Company has written off Rs. Nil from Sundry
Debtors (Previous year Rs. Nil Lacs) including the amount due from
Companies under the same management which the company had already made
provision in earlier year.
b. Sundry Debtors & Sundry Creditors are subject to confirmation and
reconciliation, if any.
c. In the opinion of the Board of Directors, the Current Assets, Loans
& Advances, have a value on realization in the ordinary course of
business at least equal to the amount at which they are stated in the
Balance Sheet after the provisions.
d. The Company has taken Legal action against certain Debtors for
recovery by sending notices. Most of the parties have responded to
these notices. The Board is of the opinion that the said amounts shall
be recoverable. The aggregate value of debts due from these parties is
Rs.44.12 Lacs (Previous year Rs.44.12 Lacs)
4. CONTINGENT LIABILITIES :-
i. Claims not acknowledge as Debts - Not ascertainable.
5. Amount repayable to Institutions within One year Rs. Nil (Previous
year Rs. Nil). The Company has however not paid any installment to any
Institutions. The entire debts is thus overdue.
6. Future rentals obligations in respect of assets taken on lease is
Nil (Previous year Rs. Nil). Lease rentals payable with one year is
Nil (Previous year Rs. Nil). Assets taken on lease include Machinery,
Vehicles, Computers etc.
7. Provision for interest on Secured Loan is made up to 31.12.2002 in
view of the NPA Account with Institution.
NOTE: In view of the nature of business of the Company, there is no
opening and closing stock of finished goods of magazines.
8. The Company is engaged in the business of publication of magazines,
Since the printing of magazines is done by outside parties on job work
basis. In view of the nature of such operations the information with
regard to licensed capacity, installed capacity and actual production
is not applicable, and hence not furnished.
9. Earnings in Foreign Exchange Rs. Nil (Previous Year Rs. Nil)
10. Figures have been re-grouped/re-arranged whatever necessary and
rounded off to the nearest rupee.
11. The Company does not have separate records of suppliers of small
scale or ancillary industries defined under the "Interest on delayed
payments to small scale and Ancillary undertakings Act, 1993. In the
absence of such information, interest on over dues amounts to such
suppliers, if any, as on 31st March, 2011 is not ascertained and hence
not provided for.
Mar 31, 2010
1. SHARE CAPITAL-SCHEDULE - 1
(i) 14% Non-Cumulative Redeemable preference shares were redeemable on
or before 31st March 2001, at the discretion of the Board of Directors.
The Board of Directors have decided to extend the redemption up to 31st
March, 2010.
(ii) Call in arrears includes Rs.53.38 Lacs due towards share premium
(Previous year Rs. 53.38 Lacs).
2. SECURED LOAN-SCHEDULE - 3
Company has made One time settlements with IDBI and has made a payment
of Rs.1,39,05,870/- in OTS against Term Loan payable. The balance of
Rs74,49,413/- against principal & Rs.21,92,88,216/- against Provision
for interest is transferred to Sundry balance w/off a/c during the
year.
3. CURRENT ASSETS & LIABILITIES - SCHEDULE 7 & 8
a. During the year the Company has written off Rs. 1.61 Lacs from
Sundry Debtors (Previous year Rs. Nil Lacs) including the amount due
from Companies under the same management which the company had already
made provision in earlier year.
b. Sundry Debtors & Sundry Creditors are subject to confirmation and
reconciliation, if any.
c. In the 'opinion of tire Board of Directors, the Current Assets,
Loans & Advances, have a value on realization in the ordinary course of
business at least equal to the amount at which they are stated in the
Balance Sheet after the provisions.
d. The Company has taken Legal action against certain Debtors for
recovery by sending notices. Most of the parties have responded to
these notices. The Board is of the opinion that the said amounts shall
be recoverable. The aggregate value of debts due from these parties is
Rs. 44.12 Lacs (Previous year Rs. 44.12 Lacs)
4. CONTINGENT LIABILITIES
i. Claims not acknowledge as Debts - Not ascertainable.
5. Amount repayable to Institutions within One year Rs. Nil (Previous
year Rs. Nil). The Company has however not paid any instalment to any
Institutions. The entire debts is thus overdue.
6. Future rentals obligations in respect of assets taken on lease is
Nil (Previous year Rs. Nil).
Lease rentals payable with one year is Nil (Previous year Rs. Nil).
Assets taken on lease include Machinery, Vehicles, Computers etc.
7. Provision for interest on Secured Loan is made up to 31.12.2002 in
view of the NPA Account with Institution.
8. MANAGING DIRECTOR'S REMUERATION AND BENEFITS - SCHEDULE 11
Managerial remuneration for Directors (exclusive of payment to gratuity
and pension funds on actuarial valuation.
NOTE: In view of the nature of business of the Company, there is no
opening and closing stock of finished goods of magazines.
magazines is done by outside parties on job work basis. In view of the
nature of such operations the information with regard to licensed
capacity, installed capacity and actual production is not applicable,
and hence not furnished.
9. Earnings in Foreign Exchange Rs. Nil (Previous Year Rs. Nil)
10. Figures have been re-grouped/re-arranged whatever necessary and
rounded off to the nearest rupee.
11. The Company does not have separate records of suppliers of small
scale or ancillary industries defined under the "Interest on delayed
payments to small scale and Ancillary undertakings Act, 1993. In the
absence of such information, interest on overdues amounts to such
suppliers, if any, as on 31st March, 2010 is not ascertained and hence
not provided for.
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