Mar 31, 2015
I) The company has entered as a partner into partnership for
development of land in and around Surat district of Gujarat in the name
of M/s Mark Developers. The amount paid to this partnership, is
classified as investment.
ii) Related Party Disclosure as per Accounting Standard 18 on "Related
Party Disclosures":
(A) Names of the related parties and description of relationship:
Enterprises where control exist :
(i) Key Management Personnel (a) Mr. Vivek Sharma
(ii) Associates Concern
(a) Mark Developers- Partnership Firm
v) There are no amounts due and outstanding to be credited to investor
education & protection fund as at 31st March, 2014.
vi) The company has identified two reportable segments viz. Realty &
Investment. Segments have been identified and reported taking into
account nature of products & services, the differing risk and returns
and the internal business reporting systems. The accounting policies
adopted for segment reporting are in line with the accounting policy of
the Company with following additional policies for segment reporting.
a) Revenue and expenses have been identified to a segment on the basis
of relationship to operating activities of the segment. Revenue and
expenses which are relate to enterprises as a whole and are not
allocable to a segment on reasonable basis have been disclosed as
"Unallocable".
b) Segment assets and segment liabilities represent assets and
liabilities in respective segment. Other assets & liabilities that
cannot be allocated to segment on reasonable basis have been disclosed
as "Unallocable".
viii) Balances of debtors .creditors and Loan & advances are subject to
confirmation.
ix) Additional information required vide Part II of Schedule III of
Companies Act, 2013 are either Nil or not applicable.
x) The previous years figures have been regrouped, rearranged and
reclassified wherever necessary.
Mar 31, 2014
I) The company has entered as a partner into partnership for
development of land in and around Surat district of Gujarat in the name
of M/s Mark Developers. The amount paid to this partnership, is
classified as investment.
ii) Related Party Disclosure as per Accounting Standard 18 on "Related
Party Disclosures":
(A) Names of the related parties and description of relationship:
Enterprises where control exist :
(i) Key Management Personnel
(a) Mr. Vivek Sharma
ii) In the opinion of the Board of Directors, the current assets, loans
and advances are approximately of the value stated if realized in the
ordinary course of business. In the opinion of the Board of directors,
the provisions for all the liabilities are adequate and not in excess
of the amounts considered reasonably necessary and there are no
contingent liabilities outstanding on the balance sheet date.
iii) There are no amounts due and outstanding to be credited to
investor education & protection fund as at 31st March, 2014.
iv) The company has identified two reportable segments viz. Realty &
Investment. Segments have been identified and reported taking into
account nature of products & services, the differing risk and returns
and the internal business reporting systems. The accounting policies
adopted for segment reporting are in line with the accounting policy of
the Company with following additional policies for segment reporting.
a) Revenue and expenses have been identified to a segment on the basis
of relationship to operating activities of the segment. Revenue and
expenses which are relate to enterprises as a whole and are not
allocable to a segment on reasonable basis have been disclosed as
"Unallocable".
b) Segment assets and segment liabilities represent assets and
liabilities in respective segment. Other assets & liabilities that
cannot be allocated to segment on reasonable basis have been disclosed
as "Unallocable".
v) Balances of debtors creditors and loan & advances are subject to
confirmation
vi) Additional information required vide Part II of
Schedule VI of Companies Act, 1956 are either Nil or not applicable.
vii) The previous year''s figures have been regrouped, rearranged and
reclassified wherever necessary.
Mar 31, 2013
I) The company has entered as a partner into partnership for
development of land in and around Surat district of Gujarat in the name
of M/s Mark Developers. The amount paid to this partnership, is
classified as investment.
ii) Related Party Disclosure as per Accounting Standard 18 on "Related
Party Disclosures":
(A) Names of the related parties and description of
relationship:
Enterprises where control exist: (i) Key Management Personnel
(a) Mr. Vivek Sharma (ii) Associates Concern
(a) Mark Developers- Partnership Firm
i) There are no amounts due and outstanding to be credited to investor
education & protection fund as at 31st March, 2013.
ii) The company has identified two reportable segments viz. Realty &
Investment. Segments have been identified and reported taking into
account nature of products & services, the differing risk and returns
and the internal business reporting systems. The accounting policies
adopted for segment reporting are in line with the accounting policy of
the Company with following additional policies for segment reporting.
a) Revenue and expenses have been identified to a segment on the basis
of relationship to operating activities of the segment. Revenue and
expenses which are relate to enterprises as a whole and are not
allocable to a segment on reasonable basis have been disclosed as
"Unallocable".
b) Segment assets and segment liabilities represent assets and
liabilities in respective segment. Other assets & liabilities that
cannot be allocated to segment on reasonable basis have been disclosed
as "Unallocable".
iii) Auditors remuneration & expenses charges to accounts:- Statutory
Audit fees Rs. 33,708/- Tax Audit Fees Rs. 16,854/-
iv) Additional information required vide Part II of Schedule VI of
Companies Act, 1956 are either Nil or not applicable.
v) The previous year''s figures have been regrouped, rearranged and
reclassified wherever necessary.
Mar 31, 2012
(a) Terms/rights attached to equity shares
The Company has only one class of equity shares having a par value of Rs.
10 per share. Each holder of equity shares is entitled to one vote per
share.
The Company declares and pays dividend in Indian Rupees. The dividend
proposed by the Board of directors is subject to the approval of the
shareholders in ensuing Annual General Meeting. In event of liquidation
of the Company, the holders of equity shares would 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.
(i) The company has entered as a partner into partnership for
development of land in and around Surat district of Gujrat in the name
of M/s Mark Developers. The amount paid to this partnership, is
classified as investment.
(ii) Related Party Disclosure as per Accounting Standard 18 on
"Related Party Disclosures":
(A) Names of the related parties and description of relationship:
Enterprises where control exist:
(i) Partnership Firms (a) Mark Developers
(ii) Key Management Personnel
(a) Mr. Vivek Sharma
(iii) In the opinion of the Board of Directors, the current assets,
loans and advances are approximately of the value stated if realized in
the ordinary course of business. In the opinion of the Board of
directors, the provisions for all the liabilities are adequate and not
in excess of the amounts considered reasonably necessary and there are
no contingent liabilities outstanding on the balance sheet date.
(iv) There are no amounts due and outstanding to be credited to investor
education & protection fund as at 31a March, 2012.
(v) The company is primarily engaged in the business of investment &
trading, which as per accounting standard 17 on "Segment Reporting"
issued by the ICAI is considered to the only reportable segment. The
company is carrying on the construction business activity under trade
name M/s OM VASISTHA DEVELOPERS in Kalyan. As there is no revenue
generation from this segment, only on reportable segment exist. The
company is primarily operating in India which is considered as a single
geographical segment.
(vi) Auditors remuneration & expenses charges to accounts:- Auditfees
Rs. 33,708/- Tax Audit Fees Rs. 16,854/-
(vii) Amalgamation of Company
The company has amalgamated with its 100% subsidiary Vinay Kumar Family
Trading & holding Company limited pursuant to amalgamation scheme
approved by Hon'ble High Court vide its order dt 03rd August,2012
w.e.f. 01.04.2011. Accordingly all assets, liabilities, income and
expenses pertaining to both the company are group together, hence
current year's figure are not comparable with previous year.
(viii) The authorized capital of company has been increased by Rs.
20,00,000 due to amalgamation of its Subsidiary Vinay Kumar Family
Trading & Holding Co. ltd with effect from 01.04.2011 as per court
order dated 03rd August,2012.
(ix) Additional information required vide Part 11 of Schedule VI of
Companies Act, 1956 are either Nil or not applicable.
Mar 31, 2009
Not Available
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