Mar 31, 2015
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 dividends in Indian Rupees.
The dividend proposed by the Board of Directors is subject to the
approval of the shareholders In the ensuing Annual General Meeting.
During the year ended 31 March 2015, the amount of per share dividend
recognized as distribution to equity shareholders was Rs 0/- (Previous
Year Rs 07-). in the event of liquidation of the Company, the holders
of equity shares will be emitted 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.
NOTE 1. SEGMENT INFORMATION:
The Company has Identified two reportable segmenis viz. consultation
and whole sale trading. Segmenis have been identified and reported
taking into account nature or product! and services, the deferring
risks and returns and the internal business reporting systems. The
accounting policies adopted are In line with the accounting policy of
the company with following polders for segment reporting
a) Revenue and Expenses have been Identified to a segment on the basis
of relationship to operating activities on the segment. Revenues and
Expenses which relate to enterprise as a whole and are not allocable to
a segment on reasonable basis have been disclosed as Un allocable"
b) Segment Assets and Segment Liabilities represent Assets and
Abilities In respective segments. Investments, tax related assets and
other assets and Abilities that cannot be allocated to a segment on
reasonable basis have been disclosed as un allocable
Mar 31, 2014
1.1 Contigent Liabilities
Contingent liabilities not provided for in the accounts are separately
2013-14 2012-13
shown in annual statement of accounts.
a) Claims against the company not acknowledge as dept NIL NIL
b) Uncalled liability on share partly paid up NIL NIL
c) Arrears of Fixed Cumulative Dividend NIL NIL
d) Estimated amount of contracts remaining tobe executed NIL NIL
on capital account & not provided for NIL NIL
e) Letter of Credit outstanding NIL NIL
f) Insurance claim New India Assurance Co. Limited 43913515 43913515
(ii) Rights, Preference and restrictions attaching to each class of
shares 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 dividends in Indian Rupees.
The dividend proposed by the Board of Directors is subject to the
approval of the shareholders in the ensuing Annual General Meeting.
During the yea r ended 31 March 2014, the amount of per share dividend
recognized as distribution to equity shareholders was Rs 0/- (Previous
Year Rs 0./-).
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 t he number of equity shares held by the
shareholders.
Mar 31, 2013
Corporate Information
The company Is engaged In the business o( trading. The company It havng
III Registered Otfke at 195, lit Floor. G.t.ftoad, Opp Red Cross
Marvel, urnjI-132001 * Coroorate Otfke At to Delhi
Other Issues
The Company-! unit was dlstroyed In fire on 13/06/1001, The Insurance
claim ol tht company wat repudiated by the Insurance Company. The
Hon''Ne National Consumer has decided ihe case in favour of the company
against whkh the Insurance company hit filed an appeal before Hon''bte
Supreme Court Tht Company has been allowed SOW claim by the Supreme
Court against tecurity, the same b shown as n on current liabilities as
the matter It contingent and |ltsubjudiced. The same has not been
adjusted against the Insurance daim receiveable account, tn Our opinion
the Company thoutd have adjusted the insurance claim received aplnii
the claimable amount and therefore, the (ion current assets and
liabiljtet should have been reduced by the amount received from New
India Assurance Co Limited.
Mar 31, 2010
1. SEGMENT REPORTING
The Company recognizes manufacturing of Yarn as its only primary
segment since its operations predominantly consists of manufacturing of
Cotton, Blended & Polyster Yarn. Accordingly revenues from
Manufacturing and sales of yarn comprises the primary basis of
segmental information set out in these financial statements. However
during the financial year the company has not carried out any activity
due to non operation of its plant which was destroyed in major fire
during F.Y 2002-03. The company has provided consultancy to Textiles
Firms from where it has earned the income.
2. RELATED PARTY DISCLOSURES
The Company has transactions with the following related parties:
A. ASSOCIATES
a) Oswal Pumps Limited.
B. DIRECTORS: Sh.Rajev Gupta, Sh.Vivek Gupta
The transactions carried out with the persons and firms referred above
are made at market price prevalent at that time. The transactions
entered into were not in any way prejudicial to the interests of the
Company.
3. In compliance with the accounting standard AS-22 "Accounting For
Taxes on Income Issued by Company had accumulated deferred tax assets
of Rs. 68.15 Lac as on 31.03.2009. For the current year the Company has
deferred tax assets of Rs. 48.98 Lacs & the total deferred tax assets
of Rs. 48.98 Lacs has been charged to reserves & surplus.
4. CONTINGENT LIABILITIES
Contingent liabilit not provided for in the accounts are separately
shown in annual statement of accounts.
(Amt. in Lacs)
2009-10 2008-09
a) Claims against the
company not NIL NIL
b) Uncalled liability on shares
partly paid up NIL NIL
c) Arrears of Fixed Cumulative
Dividend NIL NIL
d) Estimated amount of contracts NIL NIL
remaining to be executed on
capital account & not provided
for
e) Sales Tax Exemption NIL NIL
f) Central Excise Duty 33.60 33.60
5. Previous year figures have been regrouped/reclassified wherever
necessary.
6. The amount of Balance Sheet & Profit & Loss Account are rounded off
to the nearest rupees.
7. Provision for income tax liability towards MAT has been made of Rs.
504/-in the F. Y.2009-10.
8. The Balances of the parties under the head Debtors, Creditors, and
Loans & Advances are subject to confirmation.
9. No Board meeting fee charged by the Directors.
10. The Company has got an interim order from Honble National Consume
Dispute Redressal Commission, New Delhi against New India Assurance Co.
Ltd. for payment of pending insurance claim. The Insurance Company has
filed an appeal before Honble Supreme Court against the said order.
Matter is subjudiced Before Honble Supreme Court.
11. Additional Information pursuant to provisions of paragraph 3, 4C &
4D of Part II of Schedule VI of the companies Act,1956.
i) Particulars of Capacities, Production, Sales & Stocks.