Mar 31, 2015
1. Detailed note on the terms of the rights, preferences and
restrictions relating to each class of shares including restrictions on
the distribution of dividends and repayment of capital.
i) The Company has only one class of Equity Shares having a par value
of Rs. 1/- per share. Each holder of Equity Share is entitled to one
vote per share. The Company declares and pays dividend in Indian
Rupees.
ii) In the event of liquidation of the Company, the holders of Equity
shares will be entitled to receive remaining assets of the Company,
after distribution of all preferential amounts. The distribution will
be in proportion to the number of Equity shares held by the
shareholders.
2. Detailed note on shares reserved to be issued under options and
contracts / commitment for the sale of shares / divestments including
the terms and conditions.
The company does not have any such contract / commitment as on
reporting date.
3. Detailed terms of any securities convertible into shares, e.g. in
the case of convertible warrants, debentures, bonds etc.
The company does not have any securities convertible into shares as on
reporting date.
4. Amounts due to Micro, Small and Medium Enterprises:
Under the Micro, Small and Medium Enterprises Development Act, 2006
certain disclosures are required to be made related to micro, small and
medium enterprise. The company does not have any transactions with such
entities.
5. Amortisation of Preliminery expenses
The Company had incurred some expenses on account of Increase in
Authorised Capital and in connection with the Right Issue of Equity
Shares which were treated as Preliminary expenses in the books of
Accounts till 31 March 2013 (Rs.14,69,675/-) and no such expenses were
written off in the books of Accounts. However, the management has
framed a policy of Amortising the above Preliminary expenses over a
period of 5 years starting from the financial year 2013-14.
6. Exceptional Item
The Company has revised its policy of providing depreciation on fixed
assets effective 1 April, 2014. Depreciation is now provided based on
the revised remaining useful life of each asset which has been revised
based on an evaluation by the management. The carrying amount of each
asset as on 1 April, 2014 is depreciated over the revised remaining
useful life. As a result of these changes, the depreciation charge for
the year ended 31 March, 2015 of Rs. 48,719 is higher by Rs. 20,494 and
the effect relating to the period prior to 1 April, 2014 is Rs. 7,039
which has been shown as an 'Exceptional Item'. Accordingly,
depreciation and amortisation expense for the year ended 31 March, 2015
aggregates to Rs. 41,680.
7. NOTES TO ACCOUNTS:
1. In the opinion of the Board of Directors, the Current Assets, Loans
& Advances have realizable value in the ordinary course of business at
least equal to the amount at which they are stated in the balance sheet
and the same has been certified by the Board of Directors.
2. Legal Disputes in Projects undertaken by the company:
(i) Company has entered into a Development Agreement with M/s. Krishna
Sagar Builders Ltd. to develop a property situated at Charkop Village,
Kandivali (West) admeasuring total area of 1138.78 Sq. Mtrs
(Developable Area: 984.90 Sq Mtrs) the total amount incurred on the
said project is Rs. 446.62 Lacs as on 31st March, 2015 which is under
Legal Dispute.
(ii) The company has entered into a Joint Venture Agreement with M/s.
Krishna Developers through its proprietor Mr. Rajiv Kashyap to develop
the property situated at CTS No.484 at Gulmohar Road, Juhu, Mumbai the
total amount incurred on the said project is Rs. 147.45 Lacs as on 31st
March, 2015, which is also under Dispute but the company has made a
recovery of Rs. 50.70 Lacs in the year 2013 so the net amount incurred
on the said project is Rs.96.75 Lacs as on 31st March 2015.
8. Related Parties Disclosure:
(i) As per Accounting Standard on 'Related Party Disclosure" (AS 18),
the related parties of the company as at March 31,2015 are as follows:
(a) Wholly Owned Subsidiary Company : N.A.
(b) Promoter Group/ Holding Company :
M/s. Bhrarosemand Commodities Pvt Ltd. Promoter Group
(c ) Key Management Personal :
Ms. Alka Lath Whole Time Director
9. Balances of Sundry Debtors, Sundry Creditors, Advances received and
recoverable are subject to confirmation and reconciliation, if any from
the respective parties.
10. Previous years figures have been regrouped/ rearranged and
reclassified wherever necessary to make them comparable with current
year figures.
11. Identification of accounts relating to small industrial
undertaking, information for determining the particulars relating to
current indebtedness of such undertaking as required under Schedule III
Part I of the Company Act, 2013 are not applicable to this company.
12. All the other information's as required under paragraph 3, 4A, 4B,
4C & 4D of part II of Schedule III of the Companies Act, 2013 is either
Nil or Not Applicable to the Company.
13. Calculation of Deferred Tax:
Provision for income tax has been made as per the existing provision of
the Income Tax, 1961 and as required by Accounting standard AS-22
relating to 'Accounting for taxes on income" issued by the Institute of
Chartered Accountants of India, the provision of deferred tax
liability, has been made in respect of difference between books
depreciation and income tax depreciation, as under:-
14. Contingent liabilities:
There is no contingent liability in the opinion of the Management.
15. Changes after Date of Balance Sheet:
There is no material change occurred after the date of Balance Sheet
till date of audit affecting the financial statements as on 31.03.2015.
Mar 31, 2014
1. In the opinion of the Board of Directors, the Current Assets, Loans
& Advances have realizable value in the ordinary course of business at
least equal to the amount at which they are stated in the balance sheet
and the same has been certifies by the Board of Directors.
2. Legal Disputes in Projects undertaken by the company:
(i) Company has entered into a Development Agreement with M/s. Krishna
Sagar Builders Ltd. to develop a property situated at Charkop Village,
Kandivali (West) admeasuring total area of 1138.78 Sq. Mtrs
(Developable Area: 984.90 Sq Mtrs) the total amount incurred on the
said project is RS. 446.62 Lacs as on 31st March, 2014 which is under
Legal Dispute.
(i) The company has entered into a Joint Venture Agreement with M/s.
Krishna Developers through its proprietor Mr. Rajiv Kashyap to develop
the property situated at CTS No.484 at Gulmohar Road, Juhu, Mumbai the
total amount incurred on the said project is RS. 147.45 Lacs as on 31st
March, 2014, which is also under Dispute but the company has made a
recovery of RS. 50.70 Lacs in the year 2013 so the net amount incurred
on the said project is RS.96.75 Lacs as on 31st March 2014.
3. Related Parties Disclosure:
(i) As per Accounting Standard on "Related Party Disclosure" (AS 18),
the related parties of the company as at March 31,2014 are as follows:
(a) Wholly Owned Subsidiary Company: N.A.
(b) Promoter Group/ Holding Company:
* M/s. Bhrarosemand Commodities Pvt Ltd.
(c) Key Management Personal :
* Mr. KailashChandra Sharma - Managing Director
5. Balances of Sundry Debtors, Sundry Creditors, Advances received and
recoverable are subject to confirmation and reconciliation, if any from
the respective parties.
6. Previous years figures have been regrouped/ rearranged and
reclassified wherever necessary to make them comparable with current
year figures.
7. Identification of accounts relating to small industrial
undertaking, information for determining the particulars relating to
current indebt ness of such undertaking as required under Schedule IV
Part I of the Company Act, 1956 are not applicable to this company.
8. All the other information''s as required under paragraph 3, 4A, 4B,
4C & 4D of part II of Schedule VI of the Companies Act, 1956 is either
Nil or Not Applicable to the Company.
(b) Detailed note on the terms of the rights, preferences and
restrictions relating to each class of shares including restrictions on
the distribution of dividends and repayment of capital.
i) The Company has only one class of Equity Shares having a par value
of RS. 1/- per share. Each holder of Equity Share is entitled to one
vote per share. The Company declares and pays dividend in Indian
Rupees.
ii) In the event of liquidation of the Company, the holders of Equity
shares will be entitled to receive remaining assets of the Company,
after distribution of all preferential amounts. The distribution will
be in proportion to the number of Equity shares held by the
shareholders.
(e) Detailed note on shares reserved to be issued under options and
contracts / commitment for the sale of shares / divestments including
the terms and conditions.
The company does not have any such contract / commitment as on
reporting date.
(f) Detailed terms of any securities convertible into shares, e.g. in
the case of convertible warrants, debentures, bonds etc.
The company does not have any securities convertible into shares as on
reporting date.
9. Amounts due to Micro, Small and Medium Enterprises:
Under the Micro, Small and Medium Enterprises Development Act, 2006
certain disclosures are required to be made related to micro, small and
medium enterprise. The company does not have any transactions with such
entities.
10. Previous year figures
The figures of the previous year have been re-arranged, re-grouped and
re- classified wherever necessary.
11. Amortisation of Preliminery expenses
The Company had incurred some expenses on account of Increase in
Authorised Capital and in connection witth the Right Issue of Equity
Shares which were treated as Preliminary expenses in the books of
Accounts till 31 March 2013 (RS.14,69,675/-) and no such expenses were
written off in the books of Accounts. However, the management has
framed a policy of Amortising the above Preliminary expenses over a
period of 5 years starting from this year.
Mar 31, 2013
Note 1 - Amounts due to Micro, Small and Medium Enterprises:
Under the Micro, Small and Medium Enterprises Development Act, 2006
certain disclosures are required to be made related to micro, small and
medium enterprise. The company does not have any transactions with such
entities.
Note 2-Previous year fgures
The fgures of the previous year have been re-arranged, re-grouped and
re- classifed wherever necessary.
3. In the opinion of the Board of Directors, the Current Assets, Loans
& Advances have realizable value in the ordinary course of business at
least equal to the amount at which they are stated in the balance sheet
and the same has been certifes by the Board of Directors.
4. Legal Disputes in Project undertaken by the company :
(i) Company has entered into a Development Agreement with M/s. Krishna
Sagar Builders Ltd. in the previous year to develop a property situated
at Charkop Village, Kandivali (West) admeasuring total area of 1138.78
Sq. Mtrs (Developable Area: 984.90 Sq Mtrs) the total amount incurred
on the said project is Rs. 446.62 Lacs as on 31st March, 2013 which
under legal dispute.
(ii) The company has entered into a Joint Venture Agreement with M/s.
Krishna Developers through its proprietor Mr. Rajiv Kashyap to develop
the property situated at CTS No.484 at Gulmohar Road, Juhu, Mumbai the
total amount incurred on the said project was Rs. 145.20 Lacs as on
31st March, 2012 which is also under dispute but in the year 2013 a
recovery of Rs. 51.70 Lacs made agaist this project so the net amount
incurred on the said project is Rs. 93.5 Lacs as on 31st March,2013.
5. Related Parties Disclosure:
(i) As per Accounting Standard on "Related Party Disclosure (AS 18),
the related parties of the company as at March 31, 2013 are as follows:
(a) Wholly Owned Subsidiary Company: N.A.
(b) Promoter Group/ Holding Company:
- M/s. Bhrosemand Commodities Pvt Ltd.
(c) Key Management Personal :
- Mr. KailashChand Sharma - Managing Director
- Mr . Nalin Panchal - Excutive Director*
6. Balances of Sundry Debtors, Sundry Creditors, Advances received and
recoverable are subject to confrmation and reconciliation, if any from
the respective parties.
7. Previous years fgures have been regrouped/ rearranged and
reclassifed wherever necessary to make them comparable with current
year fgures.
8. Identifcation of accounts relating to small industrial undertaking,
information for determining the particulars relating to current indebt
ness of such undertaking as required Under Schedule IV Part I of the
Company Act, 1956 are not applicable to this company.
9. All the other information''s as required under paragraph 3, 4A, 4B,
4C & 4D of part II of Schedule VI of the Companies Act, 1956 is either
Nil or Not Applicable to the Company.
Mar 31, 2012
1. In the opinion of the Board of Directors, the Current Assets, Loans
& Advances have realizable value in the ordinary course of business at
least equal to the amount at which they are stated in the balance sheet
and the same has been certified by the Board of Directors
2. New Project undertaken during the Year :
(i) Company has entered into a Development Agreement with M/s. Krishna
Sagar Builders Ltd. to develop a property situated at Charkop Village,
Kandivali (West) admeasuring total area of 1138.78 Sq. Mtrs
(Developable Area: 984.90 Sq Mtrs) the total amount incurred on the
said project is Rs. 441.62 Lacs as on 31st March, 2012.
(ii) The company has entered into a Joint Venture Agreement with M/s.
Krishna Developers through its proprietor Mr. Rajiv Kashyap to develop
the property situated at CTS No.484 at Gulmohar Road, Juhu, Mumbai the
total amount incurred on the said project is Rs. 145.20 Lacs as on 31
st March, 2012.
(iii) Company has entered into contract with various parties to
construct the Row Houses at Bombay Hospital Road, Indore. Income from
completed Row Houses sold during the year was Rs. 41.89 Lacs which are
accounted in this year.
(iv) Company has undertaken infrastructure projects for Road works.
Income from these contracts during the year was Rs. 54.02 Lacs.
4. Balances of Sundry Debtors, Sundry Creditors, Advances received and
recoverable are subject to confirmation and reconciliation, if any from
the respective parties.
5. Previous years figures have been regrouped/ rearranged and
reclassified wherever necessary to make them comparable with current
year figures.
6. Identification of accounts relating to small industrial
undertaking, information for determining the particulars relating to
current indebtness of such undertaking as required Under Schedule IV
Part I of the Companies Act, 1956 are not applicable to this company.
7. All the other information's as required under paragraph 3,4A, 4B,
4C & 4D of part II of Schedule VI of the Companies Act, 1956 is either
Nil or Not Applicable to the Company.
Mar 31, 2011
1. In the opinion of the Board of Directors, the Current Assets, Loans
& Advances have realizable value in the ordinary course of business at
least equal to the amount at which they are stated in the balance sheet
and the same has been certifes by the Board of Directors.
2. Income from operation amounting to Rs.52,958,250/- (TDS
Rs.4,22,765/-) is net of payment.
4. New Project undertaken during the Year :
(i) Company has entered into a Development Agreement with M/s. Krishna
Sagar Builders Ltd. to develop a property situated at Charkop Village,
Kandivali (West) admeasuring total area of 1138.78 Sq. Mtrs
(Developable Area: 984.90 Sq Mtrs) against which company has paid
Rs.423.68 Lacs till 31st March, 2011 which has been shown under the
head Project under Development.
(ii) The company has entered into a Joint Venture Agreement with M/s.
Krishna Developers through its proprietor Mr. Rajiv Kashyap to develop
the property situated at CTS No.484 at Gulmohar Road, Juhu, Mumbai.
against which company has paid Rs.138.50 Lacs till 31st March, 2011
which has been shown under the head Project under Development.
(iii) Company has entered into contract with various parties to
construct the Row Houses at Bombay Hospital Road, Indore. Income from
completed Row Houses sold during the year was Rs. 3,18,20,000 which are
accounted in this year.
(iv) Company has undertaken infrastructure projects for Road works.
Income from these contracts during the year was Rs. 2,11,38,250.
7. Related Parties Disclosure:
(i) As per Accounting Standard on "Related Party Disclosure" (AS 18),
the related parties of the company as at March 31, 2011 are as follows:
(a) Wholly Owned Subsidiary Company: N.A.
(b) Promoter Group/ Holding Company:
- M/s. Bhrosemand Commodities Pvt Ltd.
(c) Key Management Personal :
- Mr. Kailash C Sharma - Managing Director
- Mr. Nalin Kumar Panchal - Executive Director
8. Balances of Sundry Debtors, Sundry Creditors, Advances received and
recoverable are subject to confrmation and reconciliation, if any from
the respective parties.
9. Previous years fgures have been regrouped/ rearranged and
reclassifed wherever necessary to make them comparable with current
year fgures.
10. Identifcation of accounts relating to small industrial
undertaking, information for determining the particulars relating to
current indebt ness of such undertaking as required Under Schedule IV
Part I of the Company Act, 1956 are not applicable to this company.
11. Information about Business Segments:
In accordance with the requirement of Accounting Standard 17 (AS 17)
"Segment Reporting" issued by the Institute of Chartered Accountants of
India, the Company has identifed two distinguishable primary business
segments as under:
a) Media Services
b) Infrastructure & Construction Activities
These segments have been identifed because management perceives that
these two businesses are subject to different risks and returns.
The assets used in the Companys business or liabilities which has been
classifed under unallocable are the assets and liabilities which have
not been identifed to any of the reportable segments as the same are
used interchangeably bweetn segments and as such it is not practicable
to allocate such assets or liabilities to segments and provide segments
disclosures in relation to total assets and liabilities.
12. All the other informations as required under paragraph 3, 4A, 4B,
4C & 4D of part II of Schedule VI of the Companies Act, 1956 is either
Nil or Not Applicable to the Company.
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