Mar 31, 2016
Note 1.
The Company has not received any intimation from suppliers regarding their status under the Micro, Small and Medium Enterprises Development Act,2006 and hence disclosure, if any, relating to amount unpaid as at the yearend together with interest paid/payable as required under the said act, have not been go
Note 2.
The Payment of Gratuity Act, 1972 is not applicable to the company as the number of permanenteempToyhe company are below to Note 2.19
There are no impairment of Assets, as the management is of the opinion that the carrying value of assets is more than the realizable value as on B 1st M ar ch, 2015.
Note. 3.
Related Party Disclosures: Directors are Key Management Personnel of the Company Directors of the Company
1) Amit Khemka
2) Purushottam Khandelwal B) Bibha Rani Saha
4) Ramesh Kumar Saraswat Details of Remuneration to Directors :
Note 4.
Events Occurring after Balance Sheet Date
No significant events which could affect the financial position as on March Bi 2016, to a matte have been reported by the management, after the balance sheet date till the signing of the report.
Note 5.
Details of Loans given, Investments made, guarantees given covered under section 186(4) of The Companies Act, 2013
Details of loan given during the year is separately attached .Investments made are disclosed with respective note, further no guarantee has been given by the Com]( Refer Annexure A)
Mar 31, 2015
Other Notes and Additional Information forming part of Financial
Statements
i) In the opinion of the management, current assets, loans and advances
and other receivables have realizable value of at least the amounts at
which they are stated in the accounts
Note 1.
The Company has not received any intimation from suppliers regarding
their status under the Micro, Small and Medium Enterprises Development
Act, 2006 and hence disclosure, if any, relating to amount unpaid as at
the yearend together with interest paid/payable as required under the
said act, have not been given.
Note 2
The Payment of Gratuity Act, 1972 is not applicable to the company as
the number of permanent employees in the company are below ten,
Note 3
There are no impairment of Assets, as the management is of the opinion
that the carrying value of assets is more than the realizable value as
on 31st March, 2015.
Note.4
Related Party Disclosures: Directors are Key Management Personnel of
the Company
Directors of the Company
1) Amit Khemka
2) Purushottam Khandelwal
3) Vishal Kr. Saraswat
4) Bharti Fogla
5) Nand Kishore Fogla
Note 2.21
The Company has two reporting segments;
1. Securities & Commodities Trading
2. Textile Trading & Interest Activities
Accounting policies adopted for the purpose of segment reporting are in
consonance with the other accounting policies followed by the Company
along with below mentioned additional accounting policies;
1. Expenses which do not directly relate to any of the segments have
been disclosed as unallocated expenses
2. Segment assets include all operating assets used by a segment and
majorly they consist of debtors, stock and other current assets.
3. Segment liabilities consist principally of sundry creditors.
Note 5
Events Occurring after Balance Sheet Date
No significant events which could affect the financial position as on
March 31, 2015, to a material extent have been reported by the
management, after the balance sheet date till the signing of the
report.
Note 6
Details of Loans given, Investments made, guarantees given covered
under section 186(4) of The Companies Act, 2013
Details of loan given during the year is separately
attached. Investments made are disclosed with respective note, further
no guarantee has been given by the Company.
Note 7
Previous year's figures have been re-arranged and re-grouped wherever
considered necessary.
Mar 31, 2013
1.1 Other Notes on Financial Statements
- Figures of previous year have been regrouped/rearranged where
necessary.
- The Company is a Small and Medium size Company as defined in the
General Instruction in respect of Accounting Standards as applicable to
a Small and Medium Sized Company.
1.2 Related Party Disclosures (AS 18)
Relationship
A. Wholly owned Subsidiary - None
B. Associate Company - None
C. Company under Common Control of Promoter - None
D. Key Management Personnel
1. Nand Kishore Fogla
2. Amit Khemka
Transactions
There have been no related party transactions during the year under
review.
1.3 Segment Reporting (AS 17)
Primary Segment
Based on guiding principle given in the Accounting Standard 17 ÂSegment
Reporting issued by the ÂInstitute of Chartered Accountants of IndiaÂ
the CompanyÂs segments are
1. Textile Trading
2. Trading / Investment in Shares & Securities
3. Trading in Commodities Trading
4. Loan Syndication or lending money on Interest
The Accounting policies adopted or the segment reporting are in line
with the accounting policies of the Company with the following
additional policies for the segment reporting :
a. Expenses have been included to the Segments on the basis of their
relationships to the Accounting activities of the Segment. Expenses
which relate to the enterprises as a whole and are applicable to the
segments on a reasonable basis have been included under ÂUnallocated
ExpensesÂ.
b. Segment Assets include all operating assets used by a segment and
consist principally of debtors, stocks, loans and advances.
c. Segment liabilities consist principally of creditors.
1.4 Miscellaneous Expenditure
No Miscellaneous Expenditure is written off during the year.
Mar 31, 2012
1. Figures of the previous year has been re-grouped/re-arranged/
re-casted wherever necessary.
2. The Company is a Small & Medium Size Company as defined in the
General Instruction in respect of Accounting Standard notified under
trie Companies Act, 1956. Accordingly, the Company has complied with
the Accounting Standards as applicable to a Small & Medium Size
Company.
3. Segment Reporting
Primary Segment
Based on the guiding Principle given in the Accounting Standared-17
"Segment Reporting" issued by the Institute of Chartered Accountants of
India, the Company''s Segments are (i) Securities & Commodities Trading
and (ii) Textiles Trading & Interest activities.
The accounting policies adopted for the segment reporting are in line
with the accounting policies of the Company with the following
additional policies for the segment reporting :
i) Expenses have been included to the Segments on the basis of their
relationships to the Accounting activities of the Segment.
Expenses, which relate to the enterprises as a whole and are not
allocable to the segments on a reasonable basis, have been included
under "Unallocated Expenses".
ii) Segment assets include all operating assets used by a segment and
consist, principally of debtors, stocks, loans & advances.
iii) Segment liabilities consist Principally of creditors
NOTES NO.17: Significant Accounting Policies and Other Notes on
Financial Statements (Con!.....J
4. Related Party disclosures :
Disclosures as required by the Accounting Standared 18" Related Party
Disclosures" issued by the Institute of Chartered Accountants of India.
A. Relationship are given below :-
a) Directors (existing) :- (1) Amit Khemka, (2) Nand Kishore Fogla.
(3) Nirmal Kumar Poddarand(4) Mr. Amlesh Sadhu {From 31.07.12).
b) Group Companies where common control exists : NIL
B. Transaction with related Parties : NIL
C. Amount Outstanding (Receivable) as on 31.3.2012 : NIL
D. Amount Outstanding (Payable) as on 31.3.2012 : NIL
5. DEFERRED TAX ASSETS / LIABILITIES :
The Company has not acquired any fixed assets (no Depreciation
Difference) and there is no Deferred Tax Liability. The Company has not
earned forward business losses under the Income Tax Act, 1961, there is
no Deferred Tax Assets. Hence, the Deferred Tax Assets and Liabilities
have not been Accounted for. This is in accordance with Accounting
Standard (AS22)"Accounting for Taxes on Income" issued by the Institute
of Chartered Accoutants of India.
6. ADDITIONAL INFORMATION :
Pursuant to the provision of Paragraph "5° of part II of Schedule VI to
the Companies Act, 1956:-
a) Details of Items of Exceptional and Extra Ordinary Nature : NIL
b) Prior period Items : NIL
c) Aggregate of the amounts set aside or proposed to be set
aside to Reserves or Provisions or withdrawn from such
Reserves or Provisions : NIL
d) Value of Imports on CI.F. basis, Expenditure in Foreign : NIL
Currency on Account of Royalty, Know-how, Fees, Interest and
other matters and remittance on account of dividend in
foreign currency
e) Earning in Foreign Exchange on Export, Royalty, Know-how,
Fees, Interest, Dividend or others : NIL
f) Quantitative information in respect of goods traded
during the year are as under: -
NOTES : i) Previous year''s figures are given in the brackets.
ii) Opening Stock includes those of the amalgamated Companies in the
previous year.
Mar 31, 2011
1. Related Party disclosures :
Disclosures as required by the Accounting Standared 18" Related Party
Disclosures" issued by the Institute of Chartered Accountants of India.
A. Relationship are given below :-
a) Directors (existing) :- 1) Amit Khemka (2) Nand Kishore Fogla and
(3) Nirmal Kumar Poddar.
b) Group Companies where common control exists : NIL
B. Transaction with related Parties : NIL
C. Amount Outstanding (Receivable) as on 31.3,2011 : NIL
D. Amount Outstanding (Payable) as on 31.3.2011 : NIL
2. ADDITIONAL INFORMATION ;
Pursuant to the provision of Paragraph 3 of part II of Schedule VI to
the Companies Act 1956:
a) Expenditure on employees who were in receipt of or entitled to
receive remuneration of p0tJn^fn Rs-24''00-000/- Per annum, where
employed for whole year or Rs.2,00,000/-per month, where employed
forapart of the year and number of such employees
b) Earning/outgo in foreign currency on Export/Import of goods on
F.O.B./C.I.Fbasis
NOTES
i) Previous year''s figures are given in the brackets
"il) Opening Stock includes those of the amalgamated Companies in the
previous year