Home  »  Company  »  Indrayani Biote.  »  Quotes  »  Notes to Account
Enter the first few characters of Company and click 'Go'

Notes to Accounts of Indrayani Biotech Ltd.

Mar 31, 2015

1 Contingent Liabilities

No provision is made for liabilities that are contingent in nature and are not recognized in the financial statements but if material, the same are disclosed by way of notes to accounts.

2 In accordance with Accounting Standards-22 "Taxes on Income" issued by The Institute of Chartered Accountants of India, the Holding company has not recognized any Deferred Tax Assets, which results from the timing differences between the Book Profits and Tax Profits as there is no reasonable level of certainty supported by convincing evidence of past records and that sufficient future taxable income will be available against such deferred tax assets

3 Segment Reporting:

The Company operates in a single business segment - Travel related business. Hence, no segment wise figures are mentioned.

4 In the absence of balance confirmations, balances in Sundry Creditors and Other current Liabilities are as per Books of Accounts only.

5 On the basis of information available with the Company, regarding the status of the suppliers as defined under the "Micro, Small and Medium Enterprises Development Act 2006", there were no dues to supplier as at 31 March 2015. Further there were no overdue during the period and therefore the question of provision of interest and related disclosures under the said Act does not arise

6 Disclosure pursuant to Accounting Standard - 15 (Revised) "Employee Benefits": As there are no employees in the holding company there are no benefits are provided.

7 Company has accepted Loans from Directors and the same are shown as Non-Current Liabilities.

8 Related party disclosure: Related Party Disclosures as required by Accounting Standard [AS]-18 "Related Party Disclosures" issued by the Institute of Chartered Accountants of India are :-

(a) List of the Related Parties And Relationships (as identified by the company )

Party Relation

A Enterprises Under the Common Control

1 Websource Technologies Ltd Common Director

2 roomsXML Solutions Limited Common Director

3 roomsXML DMCC, Dubai Common Director

B Key Management Personnel

1 Prakash Bang Director

2 Ruchir Bang Director

C Individuals (Shareholders)

1 Prakash Bang Sharehoder

2 Ruchir Bang Sharehoder

3 Vrunda Bang Sharehoder

4 Nupur Bang Sharehoder

5 Anuj Bang Sharehoder

6 Websource Technologies Ltd Sharehoder

7 Lahoti Overseas Limited Sharehoder

9 Previous year's figures have been regrouped wherever necessary.


Mar 31, 2013

1 Contingent Liabilities

No provision is made for liabilities that are contingent in nature and are not recognized in the financial statements but if material, the same are disclosed by way of notes to accounts.

2 In accordance with Accounting Standards-22 "Taxes on Income" issued by The Institute of Chartered Accountants of India, the Holding company has not recognized any Deferred Tax Assets, which results from the timing differences between the Book Profits and Tax Profits as there is no reasonable level of certainty supported by convincing evidence of past records and that sufficient future taxable income will be available against such deferred tax assets

3 Segment Reporting:

The Company operates in a single business segment - Travel related business. Hence, no segment wise figures are mentioned-

4 In the absence of balance confirmations, balances in Sundry Creditors and Other current Liabilities are as per Books of Accounts only.

5 On the basis of information available with the Company, regarding the status of the suppliers as defined under the "Micro, Small and Medium Enterprises Development Act 2006", there were no dues to supplier as at 31 March 2013. Further there were no overdue during the period and therefore the question of provision of interest and related disclosures under the said Act does not arise

6 Disclosure pursuant to Accounting Standard - 15 (Revised) "Employee Benefits": As there are no employees in the holding company there are no benefits are provided.

7 Related party disclosure:

(a) Wholly Owned Subsidiary Company

As on march 31, the company is not having any subsidiary.

(b) Entities where Key Management Personnel have significant influence Websource Technologies Limited

Indrayani Tissue Culture Pvt. Ltd. RoomsXML Solutions Limited

(c) Transactions between the company and related parties and the status of outstanding balances as at March 31, 2013. Reimbursment of expenses made by Websource Technologies Limited on behalf of the Indrayani Biotech Limited. Outstanding as at March 31, 2013 is Rs.NIL (Previous year Rs.12,90,442/-).

Indrayani Tissue Culture Pvt. Ltd: closing balance of Rs.1,621/- (Previous Year Rs.1,621/-) includes transfer of bank balance and amount received on behalf of Indrayani Tissue Culture Pvt. Ltd.

8 Disclosure as required by clause 32 of fisting agreement with stock exchanges:

Websource Technologies Limited outstanding Rs.NIL, maximum amount outstanding daring the year Rs.12,90,442/-.


Mar 31, 2012

1 Contingent Liabilities

No provision is made for liabilities that are contingent in nature and are not recognized in the financial statements but if material, the same are disclosed by way of notes to accounts.

2 In accordance with Accounting Standards-22 "Taxes on Income" issued by The Institute of Chartered Accountants of India, the Holding company has not recognized any Deferred Tax Assets, which results from the timing differences between the Book Profits and Tax Profits as there is no reasonable level of certainty supported by convincing evidence of past records and that sufficient future taxable income will be available against such deferred tax assets

3 Segment Reporting:

The Company operates in a single business segment - Travel related business. Hence, no segment wise figures are mentioned.

4 In absence of balance confirmations, balances in Sundry Creditors and Other current Liabilities are as per Books of Accounts only.

5 On the basis of information available with the Company, regarding the status of the suppliers as defined under the "Micro, Small and Medium Enterprises Development Act 2006”, there were no dues to supplier as at 31 March 2012. Further there were no overdue during the period and therefore the question of provision of interest and related disclosures under the said Act does not arise

6 Disclosure pursuant to Accounting Standard -15 (Revised) "Employee Benefits": As there are no employees in the holding company there are no benefits are provided.

7 Related party disclosure:

(a) Wholly Owned Subsidiary Company RoomsXML Solutions Limited

(b) Entities where Key Management Personnel have significant influence Websource Technologies Limited

Indrayani Tissue Culture Pvt. Ltd.

(c) Transactions between the company and related parties and the status of outstanding balances as at March 31, 2012. Reimbursement of expenses made by Web source Technologies Limited on behalf of the Indrayani Biotech Limited. Outstanding as at March 31, 2012 is Rs. 12,90,442/- (Previous year Rs.503,879/-).

Indrayani Tissue Culture Pvt. Ltd. closing balance of Rs.1,621/- (Previous Year Rs.1,501/-) includes transfer of bank balance and amount received on behalf of Indrayani Tissue Culture Pvt. Ltd. .

8 Disclosure as required by clause 32 of listing agreement with stock exchanges:

Web source Technologies Limited outstanding Rs. 12,90,442/-, maximum amount outstanding during the year Rs. 12,90,442/-.

9 AS 21 - Consolidated Financial Statements: The Company is having one Wholly Owned Subsidiary Company viz. Rooms XML Solutions Ltd., which is Material Non-Listed Indian Subsidiary Company. According to Accounting Standard 21 - Consolidated Financial Statements, the Audited Consolidated Financial Statements of the Company and its Subsidiary Company, have been included in the Annual Report.


Mar 31, 2010

1. Details of Related party transactions in accordance with the Accounting Standard AS18 Related party disclosures:

There were no transactions with related parties during the year.

2. As per AS 22 Deferred Tax Assets are recognized if there is reasonable certaintyof future profits. Inviewofthisdeferredtax assets are not recognized.

3. Segment Reporting:

The company had a policy of disclosing Tissue Culture and Green HouseGrowing as Business Segments. Segments are identified taking into account the nature of the products, the differing risks and returns, the organizational structure and internal reporting system. During the period the companys operations related to Tissue-culture activity only. The company caters mainly to the need of domestic market. There was no export turnover. As such, there are no reportable geographical segments. Since company operates only in one Reportable Segment; information about Segment & Inter Segment transactions is not given.

4) Contingent liabilities not provided in respect of:

Bank Guarantee on behalf of company for

Sales Tax : Rs.5,000 (Previous yr Rs. 5,000)

EPCG : Rs. 10,00,000(PY Rs.10,00,000)

5) CIF Value of Imports: There were no imports made by the Company.

6) Earning & Expenditure in foreign Currency (CIF) : There was no sales / expenditure in foreign currency.

7) The Company has continued the activity of Tissue Culture - High Tech agriculture.

8) A)The carrying amounts of assets are reviewed at each balance sheet date to determine whether there is any indication of impairment. However no impairment loss is recognized since the carrying amount of assets does not exceed its recoverable amount.

9) No Provision for tax is made as appeals are pending under the Income Tax Act 1961.

10) Previous years figures have been recast and regrouped wherever necessary.

11) Information required as per Schedule VI of the CompaniesAct 1956 has been given only to the extent applicable.

12) The Company has not received intimation from any enterprise regarding its status under Micro Small and Medium Enterprise Development Act, 2006 and therefore no such disclosure under the said Act is considered necessary.

Get Instant News Updates
Enable
x
Notification Settings X
Time Settings
Done
Clear Notification X
Do you want to clear all the notifications from your inbox?
Settings X