Mar 31, 2015
1. During the financial year 2014-15, there are not any transactions
with any suppliers /parties who are copied under The Micro Small and
Medium Enterprises Development Act, 2006'.
2. Related Party Disclosures
There were no contracts or arrangements made with related parties
during the year under review.
3. Key Managerial Personnel:
The Key Managerial Personnel are the Whole Time Director, CFO and
Company Secretary cum Compliance Officer, whose names are mentioned in
the Corporate Governance Report.
4. Pursuant to the enactment the Companies Act, 2013 being effective
from 01st April, 2014, the Company has re-assessed the useful lives of
its fixed assets and depreciation has been charged accordingly in
accordance with the provisions of Schedule II of the Act. As a result,
the depreciation charged for the year ended on 31/03/2015 is higher by
Rs. 10.30 lacs. Further, an amount of Rs. 9.98 lacs has been adjusted
against the opening balance of retained earning being the carrying
value of fixed assets whose lives are over as at the said date, in
accordance with the Schedule II of the Companies Act, 2013.
5. There are not any particulars which are required to be furnished
under Schedule III of the Companies Act, 2013.
6. In compliance with the Accounting Standard AS-22 relating to
"Accounting for Taxes on Income" issued by The Institute of Chartered
Accountants of India, the Company had provided for Deferred tax
liability arising out of timing difference. During the year under
report, there has been reversal of the said deferred tax liability to
the extent of Rs.403004/-(P.Y. Rs. 122795/-), on account of difference
between Book and Tax Depreciation. Accordingly, the said item has been
credited to Statement of Profit & Loss of the year under report.
7. The Company has one reportable business segments i.e. Trading in
Agricultural Commodities and its allied products. The Company operates
mainly in Indian market and there are no reportable geographical
segments.
8. Earnings Per Share:
Earnings per share are calculated by dividing the profit attributable
to the equity shareholders by the number of equity shares outstanding
during the year, as under:
9. In the Opinion of the Board, all the current assets, loans and
advances have a value on realization in the ordinary course of business
at least equal to the amount stated in the Balance Sheet and all the
known liabilities have been provided for.
10. Certain Debit and Credit Balances are being subject to
confirmation.
11. The figures appearing in the Financial Statements have been
rounded off to nearest rupee.
12. Previous year's figures have been regrouped/ reclassified wherever
necessary to correspond with the current year's classification
/disclosure.
Mar 31, 2014
1. Related Party Disclosures
There is no other company, which is under the same management in which
the directors of the company are entrusted as directors and / or
shareholders. There is no transaction with any firm and / or proprietor
firm in which the directors of the company are interested as a partners
or proprietor.
2. Key Management Personnel:
The Key Management Personnel are the Whole Time Director and Company
Secretary Cum Compliance officer, whose names are mentioned in the
Corporate Governance Report.
3. There are not any particulars which are required to be furnished
pursuant to Clause VIII of part II of the Schedule VI of the Companies
Act, 1956.
4. In compliance with the Accounting Standard AS-22 relating to
"Accounting for Taxes on Income" issued by the Institute of Chartered
Accountants of India, the company had provided for Deferred tax
liability arising out of timing difference. During the year under
report, there has been reversal of the said deferred tax liability to
the extent of Rs.122,795/- (P.Y Rs. 160, 018), on account of difference
between Book and Tax Depreciation. Accordingly, the said item has been
credited to Statement of Profit & Loss of the year under report.
5. The Company has two reportable business segments i.e. Trading of
Agro Products & Commodities and IT Activities. The Company operates
mainly in Indian market and there are no reportable geographical
segments.
6. In the Opinion of the Board, all the current assets, loans and
advances have a value on realization in the ordinary course of business
at least equal to the amount stated in the Balance Sheet and all the
known liabilities have been provided for.
7. Certain Debit and Credit Balances are being subject to
confirmation.
8. The figures appearing in the Financial Statements have been
rounded off to nearest rupee.
9. Previous year''s figures have been regrouped/ reclassified wherever
necessary to correspond with the current year''s classification
/disclosure.
Mar 31, 2013
1. Related Party Disclosures
There is no other company, which is under the same management in which
the directors of the company are entrusted as directors and / or
shareholders. There is no transaction with any firm and / or proprietor
firm in which the directors of the company are interested as a partners
or proprietor.
2. Key Management Personnel:
The Key management personnel are the directors, whose names are
mentioned in the corporate governance report.
3. There are not any particulars which are required to be furnished
pursuant to Clause VIII of part II of the Schedule VI of the Companies
Act, 1956.
4. In compliance with the Accounting Standard AS-22 relating to
"Accounting for Taxes on Income issued by the Institute of Chartered
Accountants of India, the company had provided for Deferred tax
liability arising out of timing difference. During the year under
report, there has been addition of the said deferred tax liability to
the extent of Rs.1,60,018/- (P.Y Rs. 1,46,449/-, there is reversal of
the said liability), on account of difference between Book and Tax
Depreciation. Accordingly, the said item has been credited to Statement
of Profit & Loss of the year under report.
5. The Company has two reportable business segments (i) Trading of
Agro products & Commodities (ii) IT Activities The Company operates
mainly in Indian market and there are no reportable geographical
segments.
6. Earning Per Share:
Earnings per share are calculated by dividing the profit attributable
to the equity shareholders by the number of equity shares outstanding
during the year, as under:
7. In the Opinion of the Board, all the current assets, loans and
advances have a value on realization in the ordinary course of business
at least equal to the amount stated in the Balance Sheet and all the
known liabilities have been provided for.
8. Certain Debit and Credit Balances are being subject to
confirmation.
9. The figures appearing in the Financial Statements have been
rounded off to nearest rupee.
10. The Revised Schedule VI has become effective from 1st April, 2011
for the preparation of financial statements. This has significantly
impacted the disclosure and presentation made in the financial
statements. Previous year''s figures have been regrouped / reclassified
wherever necessary to correspond with the current year''s classification
/ disclosure.
Mar 31, 2012
(i) Terms / rights attached to Equity shares
The Company has only one class of equity shares having a par value of
Re.1/- per share. Each equity shareholder is entitled to one vote per
share. The Company have not declared any dividends for the year under
review.
(ii) No Equity Shares of the Company are held by its Holding Co or its
Ultimate Holding Co or by subsidiaries or associates of the holding co
or the ultimate Holding Co, since the Company does not have any Holding
Co or Subsidiary Co as at 31st March, 2012 and as at 31st March, 2011.
(iii) None of the Shareholders holding more than 5% shares in the
issued, subscribed and paid up Equity share capital of the Company as
at 31st March, 2012 and as at 31st March, 2011.
(iv) No Equity Shares are reserved for issue under the employee stock
option (ESOP) plan of the Company and for contracts /commitments for
the sale of shares /disinvestment as at 31st March,2012 and as at 31st
March,2011.
(v) During the period of five years immediately preceding the reporting
date :
a) No Shares were allotted pursuant to any contract(s)/ arrangements
without payment being received in cash
(b) No Shares were allotted by way of bonus shares;
(c) No Shares were bought back'
(vi)The Company does not issued any securities which will be
convertible into Equity Shares in future.
(vii) No Calls unpaid by any share holders at 31st March, 2012 and as
at 31st March, 2011.
(viii) Since Inception, no Shares were Forfeited by the Company or there
were any re-issue of any Forfeited shares
(ix) In Financial Year 2008-09, equity share capital of the company was
sub-divided from every One equity shares of Rs.10/-each (10,992,000
Nos.) into Ten equity shares of Re.1/- each (109,920,000Nos).
Mar 31, 2011
1. Related Party Disclosures
There is no other company, which is under the same management in which
the directors of the com- pany are entrusted as directors and / or
shareholders. There is no transaction with any firm and/ or proprietor
firm in which the directors of the company are interested as a partners
or proprietor.
2. Key Management Personnel
The Key management personnel are the directors, whose names are
mentioned in the corporate gover- nance report.
3. The names of Micro Small and Medium Enterprisers suppliers defined
under 'The Micro Small and Medium Enterprises Development Act, 2006'
could not be identified, as the necessary evidence is not in the
possession of the Company.
4. Liabilities in respect of gratuity & leave encashment and other
retirement benefits are accounted for on cash basis which is not in
conformity with Accounting Standard (AS) 15 (Revised 2005) on Employee
Benefits as issued by the Institute of Chartered Accountants of India
which requires that Gratuity and Leave Encashment Liabilities be
accounted for on accrual basis.
5. In the opinion of the management, there is no impairment of assets
as on Balance Sheet date.
6. In the opinion of the management, there are no contingent
liabilities as on Balance Sheet date.
7. Deferred Tax:
(a) The company has provided deferred tax in accordance with the
Accounting Standard-22 Accounting for taxes on Income issued by the
ICAI.
(b) The break-up of net deferred tax liability as on 31st March, 2011
is as under:
Particulars Deferred Tax Liability
Tax on Difference between book
and Tax Depreciation Rs. (138,671/-)
8. Paise have been rounded off to the nearest rupee.
9. Schedule A to I from an integral part of Balance Sheet and Profit
& Loss Account.
10. Previous year figures have re-grouped or rearranged wherever
necessary.
Mar 31, 2010
1. Related Party Disclosures
There is no other company, which is under the same management in which
the directors of the company are entrusted as directors and / or
shareholders. There is no transaction with any firm and / or proprietor
firm. in which the directors of the company are interested as a
partners or proprietor.
2. Key Management Personnel
The Key management personnel are the directors, whose names are
mentioned in the corporate governance report.
3. The names of Micro Small and Medium Enterprisers suppliers defined
under The Micro Small and Medium Enterprises Development Act, 2006
could not be identified, as the necessary evidence is not in the
possession of the Company.
4. Liabilities in respect of gratuity & leave encashment and other
retirement benefits are accounted for on cash basis which is not in
conformity with Accounting Standard (AS) 15 (Revised 2005) on Employee
Benefits as issued by the Institute of Chartered Accountants of India
which requires that Gratuity and Leave Encashment Liabilities be
accounted for on accrual basis.
5. In the opinion of the management, there is no impairment of assets
as on Balance Sheet date.
6. In the opinion of the management, there are no contingent
liabilities as on Balance Sheet date.
7. Deferred Tax:
(a) The company has provided deferred tax in accordance with the
Accounting Standard-22 Accounting for taxes on Income issued by the
ICAI.
8. Paise have been rounded off to the nearest rupee.
9. Schedule A to I from an integral part of Balance Sheet and Profit
& Loss Account.
10. Previous year figures have re-grouped or rearranged wherever
necessary.
Disclaimer: This is 3rd Party content/feed, viewers are requested to use their discretion and conduct proper diligence before investing, GoodReturns does not take any liability on the genuineness and correctness of the information in this article