Home  »  Company  »  Loyal Equipments Ltd  »  Quotes  »  Notes to Account
Enter the first few characters of Company and click 'Go'

Notes to Accounts of Loyal Equipments Ltd.

Mar 31, 2018

3. Repayment Terms, Interest & Security offered against Long Term & Short Term Borrowings Loans from Financial Institutions:

During the financial year 2017-18 the following loan was outstanding from Financial Institutions: -

4. Non-Current Investments: Investment in Equity Shares:

(a) Company has Investment in Equity Shares of following Companies as on 31st March, 2018

- Naroda Nagrik Co-operative Bank :- 4,00,000.00

- Lupin Limited :- 2,30,845.00

- BEML Limited :- 1,65,642.00

- Bharat Forge Limited :- 1,21,793.00

- Reliance Capital Limited :- 1,99,508.00

6. Related Party Disclosures:

The Management has identified the following companies and individuals as Related Parties of the Company for the year ended March 31, 2018 for the purpose of reporting of Related Party disclosure as required in terms of Accounting Standard-18 issued by the Institute of Chartered Accountants of India:

A) List of Related Parties:

Name of Related Party Nature of Relationship

Loyal Engineers Proprietorship of Director/Promoter

Alkesh Rameshchandra Patel Director/ Promoter

Rameshchandra Nathlal Patel Director/ Promoter

Jyotsanaben Rameshchandra Patel Director/ Promoter

The Company confirms that none of the transactions, if any, with the related parties was in material conflict with the interest of the Company.

7. Contingent Liabilities not provided for:

In respect of Bank Guarantees 46.34 Lacs (Previous year: 21.77 Lacs).

8. Segment Reporting:

The Company is primarily engaged in the equipment’s Manufacturing, which in the context of Accounting Standard 17 on “Segment Reporting” constitutes a single reporting segment. Further, there are no geographical segments.

9. Auditor’s remuneration:

During the year under consideration no provision has made for auditor’s remuneration same will be provided in next year.

10. In the opinion of the Board of Directors, the current assets, loans and advances would realize not less than the value stated if realized in the ordinary course of business. The provision for all known liabilities is adequate and reasonably estimated.

11. The Company has not received any memorandum (as required to be filled by the suppliers with the notified authority under Micro, Small and Medium Enterprise Development Act, 2006) claiming their status during the year as micro, small or medium enterprises. Consequently, there are no amounts paid/ payable to such parties during the year.

12. Previous year figures have been regrouped /rearranged wherever necessary to correspond with the current year’s classifications/disclosure.


Mar 31, 2016

1. Related Party Disclosures:

The Management has identified the following companies and individuals as Related Parties of the Company for the year ended March 31, 2016 for the purpose of reporting of Related Party disclosure as required in terms of Accounting Standard-18 issued by the Institute of Chartered Accountants of India:

A) List of Related Parties:

Name of Related Party Nature of Relationship

Loyal Engineers Proprietorship of Director/Promoter

Alkesh Rameshchandra Patel Director/ Promoter

Rameshchandra Nathlal Patel Director/ Promoter

Jyotsanaben Rameshchandra Patel Director/ Promoter

The Company confirms that none of the transactions, if any, with the related parties was in material conflict with the interest of the Company.

2. Contingent Liabilities not provided for:

In respect of Bank Guarantees 16.81Lacs (Previous year: 5.93Lacs).

3. Segment Reporting:

The Company is primarily engaged in the equipments Manufacturing, which in the context of Accounting Standard 17 on “Segment Reporting” constitutes a single reporting segment. Further, there are no geographical segments.

4. Auditor’s remuneration:

During the year under consideration no provision has made for auditor’s remuneration same will be provided in next year.

5. In the opinion of the Board of Directors, the current assets, loans and advances would realize not less than the value stated if realized in the ordinary course of business. The provision for all known liabilities is adequate and reasonably estimated.

6. The Company has not received any memorandum (as required to be filled by the suppliers with the notified authority under Micro, Small and Medium Enterprise Development Act, 2006) claiming their status during the year as micro, small or medium enterprises. Consequently there are no amounts paid/ payable to such parties during the year.

7. Previous year figures have been regrouped /rearranged wherever necessary to correspond with the current year’s classifications/disclosure.

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