Home  »  Company  »  Padam Cotton Yar  »  Quotes  »  Notes to Account
Enter the first few characters of Company and click 'Go'

Notes to Accounts of Padam Cotton Yarns Ltd.

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.

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