Mar 31, 2015
1. The company is incorporated on 17th April, 1982 at Calcutta, West
Bengal, India. It is a Public limited company by its shares. The
activities of the company include trading in textiles, investing in
shares & other securities and other related activities.
2. RELATED PARTY DISCLOSURE (ACCOUNTING STANDARD 18)
1) Relationships
A. Wholly owned Subsidiary - None
B. Associate Company - None
C. Companies under the common control of promoters - None
D. Key Management Personnel
1. Goutam Bose
2. Mangelal Joshi
2) Transactions
There has been no related party transactions during the year. Note 2.17
3. SEGMENT REPORTING (ACCOUNTING STANDARD 17)
a) The company has two primary Business Segments viz:
i) Textile Business
ii) Investment Business
b) Secondary Segments
The Company Operates predominantly within the geographical limits of
India. It has no secondary segments revenue.
4. 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 year end together with interest paid/payable as requied under the
said act, have not been given
5. In accordance with the requirement under the Accounting Standard - 22
"Accounting for taxes on Income" the company has accounted for deferred
Tax during the year. Consequently the reversal of deferred tax Liability
of Rs. 26985/- during the year arising due to timing difference in
depreciation & related items has been charged to Profit & Loss account.
6. Impairment Of Assets
The management of the company has during the year carried out
technological evaluation for identification of assets, if any , in
accordance with Accounting Standard 28. Based on the judgement of the
management and as certified by the directors , no provision for
impairment is found to be necessary in respect of any assets. to be
necessary in respect of any assets.
7. Events Occurring after Balance Sheet Date
No significant events which could effect 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.
8. Details of Loans given, Investments made, guarantees given covered
under section 186(4) of The Companies Act, 2013
Loans given during the year are disclosed by way of seperate sheet,
further no investments are made and no guarantees have been given by the
Company.
9. Previous Year figures have been rearranged and regrouped wherever
considered necessary.
Mar 31, 2014
1. 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. Mr. Nand Kishore Fogla
2. Mr. Goutam Bose
Transactions
There have been no related party transactions during the year under
review.
2. Segment Reporting (Accounting Standard 17)
Primary Segments
Based on guiding principle given in the Accounting Standard -17
"Segment Reporting" issued
by the "Institute of Chartered Accountants of India" the Company''s
Segments are-
1. Textile Activities
2. Software Activities
3. Investments & Treasury Operation Activities
The accounting policies adopted or the segment reporting is 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 not applicable to
the segments on a reasonable basis have been included under
"Unallocated Expenses".
b) Segment assets include all operating assets used by a segment and
consist principally of debtors, stocks, loans & advances.
c) Segment liabilities consist principally of creditors.
Mar 31, 2013
NOTE 1.1 RELATED PARTY DISCLOSURE (ACCOUNTING STANDARD 18)
1) Relationships
A. Wholly owned Subsidiary - None
B. Associate Company - None
C. Companies under the common control of promoters - None
D. Key Management Personnel
1. Goutam Bose
2. Nand Kishore Fogla
2) Transactions
There has been no related party transactions during the year.
Note 1.2 SEGMENT REPORTING (ACCOUNTING STANDARD 17)
a) The company has Two primary business segments viz:
i) Textile Business
ii) Software Business
b) Secondary Segments
The Company Operates predominantly within the geographical limits of
India. It has no secondary segments revenue.
Note 1.3
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 year end together with interest paid/payable as requied under the
said act, have not been given.
Note 1.4
Impairment Of Assets
The management of the company has during the year carried out
technological evaluation for identification of assets, if any, in
accordance with Accounting Standard 28. Based on the judgement of the
management and as certified by the directors, no provision for
impairment is found to be necessary in respect of any assets.
Note 1.5
The Revised Schedule VI has become effective from 1/4/2011 for the
preparation of financial statements. This has signifIcantly impacted
the disclosure and presentation made in the financial statements.
Previous year figures have been regrouped/reclassified whereever
necessary to correspond with the current years classification /
disclosure.
Mar 31, 2012
NOTE 1.1 RELATED PARTY DISCLOSURE (ACCOUNTING STANDARD 18)
1) Relationships
A. Wholly owned Subsidiary - None
B. Associate Company - None
C. Companies under the common control of promoters - None
D. Key Management Personnel
1. Goutam Bose
2. Nand Kishore Fogla
2) Transactions
There has been no related party transactions during the year.
Note 1.2 SEGMENT REPORTING (ACCOUNTING STANDARD 17)
a) The company has Three primary business segments viz: i) Textile
Business
b) Secondary Segments
The Company Operates predominantly within the geographical limits of
India. It has no secondary segments revenue.
Note 1.3
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 year end together with interest paid/payable as required under the
said act, have not been given.
Note 1.4
Impairment Of Assets
The management of the company has during the year carried out
technological evaluation for identification of assets, if any, in
accordance with Accounting Standard 28. Based on the judgment of the
management and as certified by the directors, no provision for
impairment is found to be necessary in respect of any assets to be
necessary in respect of any assets.
Note 1.5
The Revised Schedule VI has become effective from 1/4/2011 for the
preparation of financial statements. This has significantly impacted
the disclosure and presentation made in the financial statements.
Previous year figures have been regrouped/reclassified wherever
necessary to correspond with the current years classification /
disclosure.
Mar 31, 2011
1. None of the Raw Materials, Stores, Spares and Components consumed
or purchased during the year have been imported.
2. None of the Earnings / Expenditures is in Foreign Currency.
3. Balance of Debtors, Creditors, Deposits, Loans and Advances are
subject to confirmation.
4. In the opinion of the Board, the Current Assets, Loans & Advances
are approximately of the value stated if realized in the ordinary
course of business. The provision for depreciation and all known
liabilities are adequate and not in excess of the amounts reasonably
necessary.
Primary Segment
5. Based on the guiding Principle given in the accounting standard -17
"Segment Reporting" issued by the institute of Chartered Accountants of
India, the Company''s Segments are Financial Services Segment, Trading
in Textiles goods Segment and Software Services Segment. The accounting
policies adopted for the segment reporting are in line with the
accounting policies of the company with 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.
iii) Segment liabilities consist principally of creditors.
6. Differed Tax Assets/Liabilities
The company had recognized deferred tax assets and liabilities in terms
with Accounting Standard 22 issued by the Institute of Chartered
Accountants of India on "Accounting for Taxes on Income" Deferred tax
is recognized on timing differences (being the difference between
taxable income under Income Tax Act, and Accounting Income) which
originate in one period and are capable of reversal in subsequent
period Deferred Tax Assets are recognized only if there is reasonable
certainly of recouping them against future taxable Profit. All such
assets there is reasonable certainly of recouping them against future
taxable Profit. All such assets and liabilities are reviewed on each
Balance Sheet date to reflect the charged position.
7. Previous years'' figures have been regrouped, rearranged wherever
necessary to make them comparable with those of current year.
Mar 31, 2010
Segment Report
Primary Segment
1 Based on the guiding Principle given m tne accounting standard -17
-Segment Reporting" issued by the institute ol Chartered Accountants of
India, the Company''s Segments are Capital Market (Securities business),
Trading in Textiles goods, Computer Training and Software Services and
Financing The accounting policies adopted for the segment reporting are
in line with the accounting policies ol the company with following
additional policies lor 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 enterpnses 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
iii) Segment liabilities consist principally of creditors.
Related Party Transactions
2 Disclosures as required by the Accounting Standard f 8 "Related
Party Disclosure'' issued by the Institute o'' Chartered Accountants ol
India.
A. Relationship are given below
a) Directors (existing)
1 Mr Alok Kr Das
2 Mr Nand Klshore Fogla
3 Mr Ramesh Kumar Saraswat
4 Mr Goutam Bose
b) Group Companies where common control exists NIL
B. Transaction with related Parties NIL C Amount Outstanding
(Receivable) NIL D. Amount Outstanding (Payable) as on 31st March 2010
NIL
3 Deferred Tax Assets/Liabilities
The company had recognized deterred tax assets and liabikties in terms
ol with Accounting Standard 22 issued by the Institute of Chartered
Accountants of India on ''Accounting for Taxes on Incon-e" Doferted tax
is recognized on timing differences (being the difference between taxable income under Income Tax Act. and Accounting Income) whicti orignate In
one period and are capable of reversal In subsequent period Deterred Tax
Assets are recognized onty it there is reasonable certainly ot recouping
them against future taxable Profit All such assets there is reasonable certainty ot recouping them against future taxable Profit Ail such
assets and labilities are reviewed on each Balance Sheet date to reflect
the charged position
4 Previous years'' figures have been regrouped, rearranged wherever
necessary to made them comparable with those of current year