Mar 31, 2014
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 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 31st March 2013, no dividend is declared by Board
of Directors. (Previous year - Nil)
b. Shares reserved for issue under options: NIL
c. Aggregate number of bonus shares issued, shares issued for
consideration other than cash and shares brought back during the period
of five years immediately preceding the reporting date: NIL
d. Securities convertible into equity / preference shares issued along
with the earliest date of conversion: NIL
e. Forfeited Shares : NIL
Indian rupee unsecured loan from Directors, Shareholders and their
relatives carries interest @ 9 % p.a.as on the reporting date.
Repayment Schedule of Unsecured Loan is not specified.
NOTE ; 2 ADDITIONAL IMQTFS -- 1. Contingent Liabilities and Capital
Commitments: Rs. NIL (P.Y. NIL)
2. Deferred Tax Liability/Assets are not created in absence of virtual
certainty.
3. No Provision for income tax is considered necessary in view of carry
forward losses and unabsorbed deprecation under the Income Tax Act
1961.
4- RELATED PARTY DISCLOUSRE
(a) List of related parties with whom transactions have taken place
during the year:
Name of related party Relationship
Jayesh K. Patel
Harish K. Bhatt Key Management Personnel
Harshad K. Patel
Asthu H. Patel
Dwijen H. Bhatt
Ratnakalaben H Patel Relatives of key
Management personel
Surbhi ben H Bhatt Harshad K Patel (HUF)
Harish K Bhatt ( HUF)
Dhara Organisers Pvt. Ltd.
H. K. Builders
Concerns in which
Directors are interested
J. K. Patel & Co.
There is no change in the number of equity shares during the period.
5. The company is entitled to setoff of carried forwarded losses and
unabsorbed depreciation against the future taxable income under the
Income-tax Act. However, as a matter of prudence, company is not
recognizing the deffered tax assets as provided by Accounting Standard
22 Â accounting for taxes on income.
6. Auditors'' Remuneration is made up of:
7. Director''s Remuneration:
a. The Company has been advised that the computation of net profits for
the purpose of Directors'' remuneration under section 349 of the
Companies Act, 1956 need not be enumerated since no commission has been
paid to the Directors. In view of the inadequate profit, fixed monthly
remuneration has been paid to the Directors as per Schedule-XIII to the
Companies Act, 1956.
b. Directors Remuneration is made up of:
Mar 31, 2013
1. Contingent Liabilities and Capital Commitments Rs. NIL (P.Y. NIL)
2. Deferred Tax Liability/Assets are not created in view of fall in
sales, and absence of virtual certainty.
3. No provision for income tax is considered necessary in view of
carry forward losses and unabsorbed deprecation under the Income Tax
Act 1961.
4. The company operates within a solitary business segment i.e.
manufacturing of pigments, the disclosure requirements of Accounting
Standard - 17 "Segment Reporting", issued by the Institute of Chartered
Accountants of India is not applicable.
5. The company has not disclosed outstanding dues to Small Scale
Industrial undertakings and details regarding the same as company are
not having any outstanding to SSI unit.
6. Director''s Remuneration :
(a) The Company has been advised that the computation of net profits
for the purpose of Directors'' remuneration under section 349 of the
Companies Act, 1956 need not be enumerated since no commission has been
paid to the Directors. In view of the inadequate profit, fixed monthly
remuneration has been paid to the Directors as per Schedule-XIII to the
Companies Act, 1956.
7. Value of Imports on CIF Basis Rs. NIL (PY. NIL)
8. The company has reclassified / regrouped the previous year figures
wherever it seems necessary.
NOTE A : CORPORATE INFORMATION :
Pratiksha Chemicals Limited was incepted in the year 1991 as Pratiksha
Chemicals Pvt Ltd and started the commercial production of
Phthalocyanine Pigment Green 7.ln the year 1994, Pratiksha Chemicals
Py. Ltd was changed to a limited company and was christened as
Pratiksha Chemicals Limited. Currently company is engaged in the
manufacturing business of Pigment Green 7 and Copper Phthalocyanine
Green Crude.
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 dividends in Indian ru- pees.
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 31st March 2012, no dividend is declared by Board
of Directors.
(Previous year - Nil)
b. Shares reserved for issue under options : NIL
c. Aggregate number of bonus shares issued, shares issued for
consideration other than cash and shares brought back during the period
of five years immediately preceding the reporting date : NIL
d. Securities convertible into equity / preference shares issued along
with the earliest date of conversion : NIL
e. Forfeited Share : NIL
NOTE A : CORPORATE INFORMATION :
Pratiksha Chemicals Limited was incepted in the year 1991 as Pratiksha
Chemicals Pvt. Ltd. and started the commercial production of
Phthalocyanine Pigment Green 7.In the year 1994, Pratiksha Chemicals
Pvt. Ltd. was changed to a limited company and was christened as
Pratiksha Chemicals Limited. Currently company is engaged in the
manufacturing business of Pigment Green 7 and Copper Phthalocyanine
Green Crude.
1. Contingent Liabilities and Capital Commitments Rs. NIL (P.Y. NIL)
2. The company has not made any provisions for Doubtful debts though
considered doubtful for recovery amounting to Rs. 2,288,424/- as the
management is still putting persuasive efforts for recovery.
3. No provision for income tax is considered necessary in view of
carry forward losses and unabsorbed deprecation under the Income Tax
Act 1961.
4. The company operates within a solitary business segment i.e.
manufacturing of pigments, the disclosure requirements of Accounting
Standard - 17 "Segment Reporting", issued by the Institute of
Chartered Accountants of India is not applicable.
5. In current year company has not amortized 1/5th of deferred revenue
expenditure.
6. The company has not disclosed outstanding dues to Small Scale
Industrial undertakings and details regarding the same as company are
not having any outstanding to SSI unit.
7. Related Party Disclosures :
(a) List of related parties with whom transactions have taken place
during the year :
As per Accounting Standard 18, issued by the Institute of Chartered
Accountants of India, the disclosures of transactions with the related
parties as defined in the Accounting Standard are given below :
8. The company is entitled to setoff of carried forwarded losses and
unabsorbed depreciation against the future taxable income under the
Income-tax Act. However, as a matter of prudence, company is not
recognizing the differed tax assets as provided by Accounting Standard
22 - accounting for taxes on income.
9. (a) The Company has been advised that the computation of net
profits for the purpose of Directors' remuneration under section 349
of the Companies Act, 1956 need not be enumerated since no commission
has been paid to the Directors. In view of the inadequate profit, fixed
monthly remuneration has been paid to the Directors as per
Schedule-XIII to the Companies Act, 1956.
10. Hitherto the Company has adopted the old Schedule VI to the
Companies Act 1956 for the preparation and presentation of its
financial statements. However, from the current year the Company has
adopted the Revised Schedule VI to comply with the notification made
under the Companies Act 1956. Accordingly the Company has reclassified
/ regrouped the previous year figures to confirm to this year's
classification.
Mar 31, 2010
1. Contingent Liabilities and Capital Commitments Rs. NIL (P.Y NIL)
2 The company has not made any provisions for Doubtful debts though
considered doubtful for recovery ; amounting to Rs. 22, 88,424- as the
management is still putting persuasive efforts for recovery.
3. No provision for income tax is considered necessary in view of
carry forward losses and unabsorbed deprecation under the Income Tax
Act 1961.
4 The company operates within a solitary business segment i.e.
manufacturing of pigments, the disclosure requirements of Accounting
Standard - 17 "Segment Reporting", issued by the Institute of Chartered
Accountants of India is not applicable.
5, In current year company has not amortized 1/5th of deferred revenue
expenditure.
6. Related Party Disclosures:
(a) List of related parties with whom transactions have taken place
during the year:
As per Accounting Standard 18, issued by the Institute of Chartered
Accountants of India, the disclosures of transactions with the related
parties as defined in the Accounting Standard are given below.
(a) List of related parties with whom transactions have taken place
during the year and relationship :
Sr,
No. Name of related party Relationship
1 Jayesh K. Patel
2 Harish K. Bhatt
3 Harshad K. Patel Key Management Personnel
4 Minor Asthu H. Patel
5 Minor Dwijen H. Bhatt
6 Ratnakala ben H Patel Relatives of key Management
personnel
7 Surbhi ben H Bhatt.
8 Harshad K Patel (HUF)
9 Harish K Bhatt ( HUF)
10 Dhara Organisers Pvt. Ltd. Concerns in which
Directors are
interested
11 H. K. Builders
12 J. K. Patel & Co.
13 The Previous year figures have been re-grouped, rearrange and
reworked wherever necessary so as to make them comparable with those of
the current year.
Mar 31, 2009
1. Contingent Liabilities land Capital Commitments Rs. NIL (P.Y NIL)
2. The company has not made any provisions for Doubtful debts though
considered doubtful for recovery amounting to Rs. 22,88,424/- as the
management is still putting persuasive efforts for recovery.
3. No provision for income tax is considered necessary in view of
carry forward losses and unabsorbed deprecation under the Income Tax
Act 1961.
4. The company operates within a solitary business segment i.e.
manufacturing of pigments, the disclosure requirements of Accounting
Standard - 17 "Segment Reporting", issued by the Institute of Chartered
Accountants of India lis not applicable.
5. In current year company has not amortized 1/5th of deferred revenue
expenditure.
6. Related Party Disclosures:
(a) List of related parties with whom transactions have taken place
during the year:
As per Accounting Standard 18, issued by the Institute of Chartered
Accountants of India, the disclosures of transactions with the related
parties as defined in the Accounting Standard are given below:
(a) List of related parties with whom transactions have taken place
during the year and relationship:
Sr.
No. Name of related party Relationship
1 Jayesh K. Patel
2 Harish K. Bhatt
3 Harshad K. Patel Key Management Personnel
4 Minor Asthu h. Patel
5 Minor Dwijen H. Bhatt
6 Ratnakala bed H Patel Relatives of key Management
personnel
7 Surbhi ben H Bhatt
8 Harshad K Patel (HUF)
9 Harish K Bhatt (HUF)
10 Dhara Organisers Pvt.
Ltd. Concerns in which Directors
are interested
11 H. K. Builders:
12 J. K. Patel & Co.
9. The company is entitled to setoff of carried forwarded losses and
unabsorbed depreciation against the future taxable income under the
Income-tax Act. However, as a matter of prudence, company is not
recognizing the differed tax assets as provided by Accounting Standard
22 - accounting for taxes on income.
10. (a) The Company has been advised that the computation of net
profits for the purpose of Directors remuneration under section 349 of
the Companies Act, 1956 need not be enumerated since no commission has
been paid to the Directors. In view of the losses, fixed monthly
remuneration has been paid to the Directors as per Schedule-XIII to the
Companies Act, 1956.
11 The Previous year figures have been re-grouped, rearrange and
reworked wherever necessary so as to make them comparable with those of
the current year.