Mar 31, 2014
1 Corporate information
The company is engaged in the business of manufacturing of steel bars &
had no operations during the year. The place of business is at Mumbai
only.
Note 2 Segment information
During the year since the company has operated only in one segment,
hence the dislcosure for the same is not given.
Note 3 Related party disclosure
Name of Related parties and related party relationship with whom
transactions have taken place during the year Associates
Vitesse Telecom Private Limited
Key management personnel & Relatives Mr. Ashish Deora Mr. Avinash
Jajodia Mr. Alok Jajodia
Note : Related party are as identified by the company and relied upon
by the auditors Related party transactions
The following table provides the total amount of transactions that have
been entered into with the related parties for the relevant financial
year:
Note 4 Income Tax and Deferred Tax Asset / (Liability)
In the Opinion of the management, and in view of the minimal profits
for the current year, losses in the earlier year and carried forward
losses under the Income Tax Act, there will not be any liability
towards Income tax for the current year.
In view of absence of sufficient profits and future taxable income and
consideration of prudence, the Deferred Tax Asset is not recognised by
the management.
Note 5 Utilization of money raised through preferential issue
During the year ended 31.03.2013, the company has raised Rs. 11,360,000
through preferential allotment of share, specifically to strengthen the
financial position and to meet its funds requirements for execution of
new projects either by itself or through joint ventures and for general
corporate purposes. Given below are the details of utilisation of
proceeds raised through preferential issue.
Note 6 Previous year figures
Figures of the previous year have been regrouped/reclassified/
rearranged, wherever necessary, to confirm with the current year''s presentation. Amounts and other disclosures for the
preceding year are included as an integral part of the current year''s
financial statements and to be read in relation to the amounts and
other disclosures to the current year.
Mar 31, 2013
1 Corporate information
The company is engaged in the business of manufacturing of steel bars &
had no operations during the year. The place of business is at Mumbai
only.
Note 2 Segment information
During the year since the company has operated only in one segment,
hence the dislcosure for the same is not given.
Note 3 Related party disclosure
Name of Related parties and related party relationship with whom
transactions have taken place during the year Associates
Vitesse Telecom Private Limited
Key management personnel & Relatives
Mr. Ashish Deora Mr, Avinash Jajodia Mr. Alok Jajodia
Note : Related party are as identified by the company and relied upon
by the auditors
Note 4 Income Tax and Deferred Tax Asset / (Liability)
In the Opinion of the management, and in view of the minimal profits
for the current year, losses in the earlier year and carried forward
losses under the Income Tax Act, there will not be any liability
towards Income tax for the current year.
In view of absence of sufficient profits and future taxable income and
consideration of prudence, the Deferred Tax Asset is not recognised by
the management.
Note 5 Utilization of money raised through preferential issue
During the year ended 31.03.2012, the company has raised Rs.. 11,360,000
through preferential allotment of share, specifically to strengthen the
financial position and to meet its funds requirements for execution of
new projects either by itself or through joint ventures and for general
corporate purposes. Given below are the details of utilisation of
proceeds raised through preferential issue.
Note 6 Previous year figures
Figures of the previous year have been
regrouped/reclassified/rearranged, wherever necessary, to confirm with
the current year''s presentation. Amounts and other disclosures for the
preceding year are included as an integral part of the current year''s
financial statements and to be read in relation to the amounts and
other disclosures to the current year.
Mar 31, 2012
1 Corporate information
The company is engaged in the business of manufacturing of steel bars &
had no operations during the year. The place of business is at Mumbai
only.
Note 2 Segment information
During the year since the company has operated only in one segment,
hence the disclosure for the same is not given.
Note 3 Related party disclosure
Name of Related parties and related party relationship with whom
transactions have taken place during the year Associates
Vitesse Telecom Private Limited
Key management personnel & Relatives
Mr. Ashish Deora
Mr. Avinash Jajodia
Mr. Alok Jajodia
Note : Related party are as identified by the company and relied upon
by the auditors
Related party transactions
The following table provides the total amount of transactions that have
been entered into with the related parties for the relevant financial
year:
Note 4 Income Tax and Deferred Tax Asset / (Liability)
In the Opinion of the management, and in view of the minimal profits
for the current year, losses in the earlier year and carried forward
losses under the Income Tax Act, there will not be any liability
towards Income tax for the current year.
In view of absence of sufficient profits and future taxable income and
consideration of prudence, the Deferred Tax Asset is not recognised by
the management.
Note 5 Utilization of money raised through preferential issue
During the year ended 31.03.2012, the company has raised Rs 1,13,60,000
through preferential allotment of share, specifically to strengthen
the financial position and to meet its funds requirements for execution
of new projects either by itself or through joint ventures and for
general corporate purposes. Given below are the details of utilisation
of proceeds raised through preferential issue.
Note 6 Previous year figures
Till the year ended 31 March 2011, the company was using the
pre-revised schedule VI to the Companies Act 1956, for preparation and
presentation of its financial statements.
During the year ended 31 March 2012, the revised Schedule VI notified
under the Companies Act, 1956, has become applicable to the Company.
The Company has reclassified the previous year figures to conform to
this year's classification.
Mar 31, 2011
1) In the opinion of the Management, Current Assets, Loans and Advances
are approximately of the value stated, except otherwise stated, if
realised in the ordinary course of business. The provision of all known
liabilities, is adequate and not in excess of the amounts reasonably
necessary.
2) Sales-tax assessment of the Company has been finalised upto and
including the accounting year 2007 - 2008 and the Income-tax assessment
are completed upto Accounting Year 2010 - 2011. The Company does not
expect any Sales-tax and Income-tax liability for the pending
assessments.
3) In the opinion of the management, in view of the loss for the
current year and past carried forward losses under the Income-tax Act,
there will not be any liability towards income-tax for the current
year.
4) Sundry Creditors include Rs. NIL (Previous Year Rs. NIL) due to
Small Scale Industrial Undertakings (SSI's) to the extent such parties
have been identified from the available information / documents with
the company.
5) As per the information available with the Company in response to the
enquiries from all existing suppliers with whom the Company deals, none
of the suppliers are registered with the Micro, Small and Medium
Enterprises Development Act, 2006.
6) Additional information pursuant to the provision of paragraphs 3,
4-C and 4-D of Part II of Schedule VI of the Companies Act, 1956 (As
certified by the Director)
The quantitative information in regard to class of goods manufactured
by the Company :
Other Information / particulars are either not applicable or nil.
1) Deferred Tax is computing the tax effect of timing difference which
arise during the year and reverse in subsequent periods keeping in view
consideration of prudence, reasonable certainty and in the absence of
sufficient future taxable income deferred tax assets is not provided
for.
2) The company's operations relate to manufacture of Bright Steel Bars.
The Company does not have separate business segments.
3) Earning per Share :
Earnings per share is calculated by dividing the profit attributable to
the equity shareholders by the weighted average number of equity shares
outstanding during the year. The number used in calculating the basic
and diluted earnings per equity share are as stated below :
10) Related Party Information :-
Disclosures in respect of related parties (as defined in Accounting
Standard 18), with whom transactions have taken place during the year
given below :
a) Relationship
i) Key Management Personnel
1 Shri Alok Kumar Jajodia
2 Shri Avinash Jajodia
3 Shri Avishek Himatsingka
4 Shri Tushar Dave
5 Shri Deepak Jhanwar
11) Figures of the previous year have been regrouped / reclassified /
rearranged, wherever necessary, to conform with the current year's
presentation. Amounts and other disclosures for the preceding year are
included as an integral part of the current year's financial statements
and are to be read in relation to the amounts and other disclosures
relating to the current year.
12) Information required as per part IV of Schedule VI of the Companies
Act, 1956.
Compiled by : Dion Global Solutions Limited
Mar 31, 2010
1) In the opinion of the Management, Current Assets, Loans and Advances
are approximately of the value stated, except otherwise stated, if
realised in the ordinary course of business. The provision of all
known liabilities, is adequate and not in excess of the amounts
reasonably necessary.
2) Sales-tax assessment of the Company has been finalised upto and
including the accounting year 2007 - 2008 and the Income-tax assessment
are completed upto Accounting Year 2007 - 2008. The Company does not
expect any Sales-tax and Income-tax liability for the pending
assessments.
3) In the opinion of the management, in view of the loss for the
current year and past carried forward losses under the Income-tax Act,
there will not be any liability towards income-tax on the income of the
current year.
4) Sundry Creditors include ? NIL (Previous Year ? NIL) due to Small
Scale Industrial Undertakings (SSIs) to the extent such parties have
been identified from the available information / documents with the
company.
5) As per the information available with the Company in response to the
enquiries from all existing suppliers with whom the Company deals, none
of the suppliers are registered with the Micro, Small and Medium
Enterprises Development Act, 2006.
6) Deferred Tax is computing the tax effect of timing difference which
arise during the year and reverse in subsequent periods keeping in view
consideration of prudence, reasonable certainty and in the absence of
sufficient future taxable income deferred tax assets is not provided
for.
7) The companys operations relate to manufacture of Bright Steel Bars.
The Company does not have separate business segments.
8) Related Party Information :-
Disclosures in respect of related parties (as defined in Accounting
Standard 18), with whom transactions have taken place during the year
given below :
1) Relationship
a) Key Management Personnel
1 Shri Alok Kumar Jajodia
2 Shri Avinash Jajodia
3 Shri S. B. Gaud (Expired on February 22, 2010)
4 Shri Avishek Himatsingka
5 Shri Tushar Dave
6 Shri Deepak Jhanwar
Note : Related Party relationship is as identified by the company and
relied upon by the auditors.
9) Figures of the previous year have been regrouped / reclassified /
rearranged, wherever necessary, to conform with the current years
presentation. Amounts and other disclosures for the preceding year are
included as an integral part of the current years financial statements
and are to be read in relation to the amounts and other disclosures
relating to the current year.
10) Information required as per part IV of Schedule VI of the Companies
Act, 1956.
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