Mar 31, 2014
1. Corporate Information:
The Company is a "Public Company", within the meaning of section 3(1)
(iii) of the Companies Act, 1956 (No. 1 of 1956). It is a widely held
public Company & is listed with the Ahmedabad Stock Exchange & BSE Ltd.
The Company is also registered with the Reserve Bank of India as a
Non-Banking Financial Company (NBFC).
The Company was incorporated in India on 14-10-1994 under the Companies
Act, 1956 (No. 1 of 1956) and is registered in India under the
jurisdiction of ROC, Ahmedabad, Gujarat.
The Corporate Identity number of the Company is:
L74999GJ1994PLC023281
The Registered office of the Company is presently located at:
215 Sakar-2, Near Ellisbridge corner, Ahmedabad-380006, Gujarat, India.
The Company is principally engaged in Non Banking Financial Business.
There has been no significant change in the nature of business of the
Company during the period from 1st April, 2013 to 31st March, 2014.
2. Amounts due to Micro, Small and Medium Enterprises:
There are no amounts due to Micro, Small & Medium Enterprises.
Based on the information available with the Company in respect of MSME
(as defined in the Micro, Small & Medium Enterprises Development Act,
2006) there are no such entities transacting with the Company &
accordingly the question of delay in the payment of dues to such
enterprises during the year and dues payable to them at the year-end
does not arise.
4. There are no employees who have completed the qualification period
for gratuity & accordingly no provision in respect of gratuity is
considered necessary for the period under reference.
7. A Schedule as required in terms of Paragraph 13 of Non-Banking
Financial (Non-Deposit Accept ing or Holding) Companies Prudential
Norms (Reserve Bank) Directions, 2007, as amended till date, is
attached as an Annexure.
8. Segment Reporting
The Company operates in a single segment and there are no separate
reportable segments as defined in Accounting Standard, AS-17.
9. Related Party disclosures:
i) Key Management Personnel
Name Designation
Mr. VinayAgrawal Managing Director
Mr. Rahul Sharma Director
Mr. J. S. Parmar Director
Mr. O. P. Choudhary Director
Mr. Narendra Goyal Promoter
ii) Transactions with related parties: NIL (P.Y.: NIL)
iii) Outstanding balances with related parties: NIL
10. In view of losses, no amount is payable in respect of Income Tax &
accordingly no provision is required in this respect.
11. In the absence of confirmation, the balance due to and/or
receivable from parties have been taken as per the books.
12. Contingent Liabilities: NIL (P.Y. NIL)
13. Earnings/Expenditure in Foreign Exchange: NIL (P.Y. NIL)
14. Previous Period Comparatives:
Previous year figures have been regrouped and reclassified to the
extent considered necessary to correspond with the current year''s
classification/disclosure.
Mar 31, 2013
1. Corporate Information:
The Company is a "Public Company", within the meaning of section 3(1)
(iii) of the Companies Act, 1956 (No. 1 of 1956). It is a widely held
public Company & is listed with the Ahmedabad Stock Exchange & BSE Ltd.
The Company is also registered with the Reserve Bank of India as a
Non-Banking Financial Company (NBFC).
The Company was incorporated in India on 14-10-1994 under the Companies
Act, 1956 (No. 1 of 1956) and is registered in India under the
jurisdiction of ROC, Ahmedabad, Gujarat.
The Corporate Identity number of the Company is: L74999GJ1994PLC023281
The Registered office of the Company is located at:
604 Sakar III, 6th Floor, Off Ashram Road Income Tax office, Navjivan
Post, Ahmedabad-380014, Gujarat, India
The Company is principally engaged in Non Banking Financial Business.
There has been no significant change in the nature of business of the
Company during the period from 1st April, 2012 to 31st March, 2013.
2. Amounts due to Micro, Small and Medium Enterprises: There are no
amounts due to Micro, Small & Medium Enterprises. Based on the
information available with the Company in respect of MSME (as defined
in the Micro, Small & Medium Enterprises Development Act, 2006) there
are no such entities transacting with the Company & accordingly the
question of delay in the payment of dues to such enterprises during the
year and dues payable to them at the year-end does not arise.
3. There are no employees who have completed the qualification period
for gratuity & accordingly no provision in respect of gratuity is
considered necessary for the period under reference.
4. A Schedule as required in terms of Paragraph 13 of Non-Banking
Financial (Non-Deposit Accepting or Holding) Companies Prudential Norms
(Reserve Bank) Directions, 2007, as amended till date, is attached as
an Annexure.
5. Segment Reporting
The Company operates in a single segment and there are no separate
reportable segments as defined in Accounting Standard, AS-17.
ii) Transactions with related parties
Remuneration to Managing Director: NIL (P.Y.: Rs. 75,000) iii)
Outstanding balances with related parties: NIL
6. In view of losses, no amount is payable in respect of Income Tax &
accordingly no provision is required in this respect.
7. In the absence of confirmation, the balance due to and/or
receivable from parties have been taken as per the books.
8. Contingent Liabilities: NIL (P.Y. NIL)
9. Earnings/Expenditure in Foreign Exchange: NIL (P.Y. NIL)
10. Previous Period Comparatives:
Previous year figures have been regrouped and reclassified to the
extent considered necessary to correspond with the current year''s
classification/disclosure.
Mar 31, 2012
1) Company is a Non Banking Financial Company.
2) Contingent liabilities NIL(Previous Year Nil)
3) Contracts remaining to be executed on capital account not provide
for Rs. Nil (Previous year Rs. Nil)
4) Contingent liability that may arise due to suspension of trading of
shares of the company on stock exchange has not been ascertained and
provided for
5) There were no related party transactions during the year.
6) The Company has initiated the process of indentifying the suppliers
who qualify under the definition of micro and small enterprises, as
defined under the Micro, Small and Medium Enterprises Development Act,
2006. Since no intimation has been received from the suppliers
regarding their status under the said Act as at 31st March, 2012
disclosures relating to amounts unpaid as at the year end, if any, have
not been furnished. In the opinion of the management, the impect of
interest, if any, that may be payable in accordance with the provisions
of the Act is not expected to be material.
7) All debit and credit balances appearing under the head loans and
advances, unsecured loans, sundry debtors and current liabilities are
subject to confirmation by the parties concerned, and subsequent
reconciliation, if any.
8) In the opinion of the Management, the value on realization of
current assets, loans and advances in the ordinary course of business
would not be less than the amount at which they are stated in the
balance sheet and provision of all known liabilities has been made.
9) Previous year figures in Balance sheet has been regrouped and
rearranged wherever necessary.
10) The statement of significant Accounting policies and the Notes
numbered 1 to 17. Above form an integral part of the accounts for the
accounts for the year ended on 31st March, 2012.
Mar 31, 2010
1) Company is a Non Banking Financial Company.
2) Contingent liabilities NIL(Previous Year Nil)
3) Contracts remaining to be executed on capital account not provide
for Rs. Nil (Previous year Rs. Nil)
4) Contingent liability that may arise due to suspension of trading of
shares of the company on stock exchange has not been ascertained and
provided for
5) Related Party transactions are follow :
(A) Key Management: Krishnakant Goyal
Prashantkumar Agarwal
Vijaykumar Saligram Goyal
Vikaskumar Vijaykumar Goyal
Narendrakumar Bhimsen Goyal
(B) Associations: Gujarat Financial & Capital Ltd
Goyal Arcade Pvt. Ltd
Gujarat Roadlines Ltd
Bluefox Securites & Leasing Ltd
Shree Roadways Ltd.
(C) Realtiveof : Bhimsen Goyal HUF
Key Management Pushpadevi Goyal
Persons Pawankumar Vijaykumar
Durgadevi Family Trust
Vandanadevi Goyal
Kavitadevi Goya
6) Provisions of Clause 4D of part II of Schedule VI of the companies
Act, 1956, regarding :
(a) Value of Import : Rs. 32,53,525/-
(b) Expenditure incurred in Foreign Currency : Nil
(c) Amount of remittance in Foreign Currency on accounts of dividends :
Nil
(d) Export Earnings : Rs.1,51,69,247/-(FOB Value)
7) Details of clause 4C of part II of Schedule VI of companies Act,
1956 has not been furnished as such information are Nil.
8) Segment Reporting
Company has organised its operation into tow business
- Trading of Fabrics
- Trading of Shares & Securities
9) The Company has initiated the process of identifying the suppliers
who qualify under the definition of micro and small enterprises, as
defined under the Micro, Small and Medium Enterprises Development Act,
2006. Since no intimation has been received from the suppliers
regarding their status under the said Act as at 31st March, 2010,
disclosures relating to amounts unpaid as at the year end, if any, have
not been furnished. In the opinion of the (management, the impect of
interest, if any, that may be payable in accordance with the provisions
of the Act is not expected to. be material.
10) All debit and credit balances appearing under the head loans and
advances, unsecured loans, sundry debtors and current liabilities are
subject to confirmation by the parties concerned, and subsequent
reconciliation, if any.
11) In the opinion of the Management, the value on realization of
current assets, loans and advances in the ordinary course of business
would not be less than the amount at which they are stated in the
balance sheet and provision of all known liabilities has been made.
12) Figures in the Balance sheet'are rounded off to the nearest of
rupees.
13) Previous year figures in Balance sheet has been regrouped and
rearranged wherew necessary.
14) The statement of significant Accounting policies and the Notes
numbered 1 to 16. Above form an integral part of the accounts for the
accounts for the year ended on 31st March, 2010.
Mar 31, 2008
B. Contingent Liability:
As informed by the company, management, there is no Contingent
Liability.
Notes on Accounts
(1) Goyal Associates Limited is a Non Banking Financial Company.
(2) Contingent Liabilities : Nil
(3) Capital Expenditure Commitments : Nil
(4) Quantitative Details:
(7) Segment Reporting:
The company has organized its operation into two business:
- Trading of Fabrics
- Trading of Shares and securities
Geographical Segments:
The company has identified geographical segments as within India and
outside India.
(8) Related party Disclosures:
Names of related parties where control exists irrespective of whether
transactions have occurred or not. As informed by the management of the
company there is no sister concern of the company.
Relationship Name of the party
Director Narendrakumar Bhimsen Goyal
Krishnakant Bhimsen Goyal
Prasshantkumar Rawatkumar Agarwal
Viikas VijayKumar Goyal
Vijaykumar Saligram Goyal
Rinkuben J. Shoh
Relatives Bhimsen Goyal-HUF
Pawankumar Vijaykumar
(9) Provision of clause 4D of part of schedule VI of Companies Act,
1956 regarding valve of imports expenditure incurred in foreign
currency, amount of remittance in foreign currency, accounts of
dividends, export earning etc, are not given as information require
in clauses are Nil.
(10) As per section 383A of Companies Act, 1956 every Company which
have paid up share capital of Rs.2 crore of mare are required to have
whole time company se ready, as company does not have whole time
secretary, so the company has violated the provisions of this section.
(11) We have been informed that Balance of Sunday Debtors, Sunday
Creditors The Kalupur Commercial Co-operative Bank, Laois & Advances
given and accepted as agreed by management are subject to confirmation,
Confirmations of the same have not been made available to Us for
Verification. stock is taken as certified by management.
(12) In absence of market value and regular quotations of securities
traded, invested of sold, we cannot comment whenever the prices of
such transitory are at arm length prices or not as on 31/03/2008.
(13) The company purchased the shares for investments through off
market trading worth Rs.1330000.00 and sold the investment in shares
through off market trading worth Rs.31622520.00, In the absence of
available market value, we are unable to identify genuineness of the
transactions. The purchase and sales values are taken as certified by
management.
(14) In absence of surplus reserves in the profit & loss account, no
provision has been made as required u/s 45 (1A) of RBI Act.
(15) Provision for income Tax and provision for FBT has made in the
books of account.
(16) During the year there is following change in the management of the
company.
(17) Previous year figures have been regrouped and rearranged wherever
necessary.
(18) The statements of significant Accounting pacifies and notes
numbered 1 to 14 above from an integral part of the accounts for the
year ended on 31st March,2008.