Mar 31, 2015
1. Rights, Preferences and Restrictions Attached to each class of shares
The Company has only one class of Equity Shares having a par value of Rs.10/- per share and each holder of the Equity Shares is entitled to one vote per share.
In the event of liquidation of the Company, the holders of the equity shares will be entitled to receive any of the remaining assets of the company, after distribution of all preferential amounts. However, no preferential amounts exist currently. The distribution will be in proportion to the number of shares held by the shareholders.
2. The company has not received information from vendors regarding their status as MSME and hence disclosures as required as per The Micro, Small and Medium Enterprises Development (MSMED) Act, 2006 have not been given.
3. MAT CREDIT ENTITLEMENT :
Based on the assessment of the future taxable income, the Management is of the opinion that there is convincing evidence that the company will pay normal income tax within the specified period during which MAT credit is available for set off.
4. In the opinion of the management and to the best of their knowledge and belief, the value under the head of current and non-current assets (other than fixed assets and non-current investments) are approximately of the value stated, if realized in ordinary course of business, except unless stated otherwise. The provision for all known liabilities is adequate and not in excess of amount considered reasonably necessary.
5. SEGMENT REPORTING
As the Companyâs primary business is trading of cloth and the sales are only in the domestic market, the disclosure requirements of the Accounting Standard - 17 âSegment Reportingâ as specified by the Companies (Accounting Standard) Rules, 2006 are not applicable.
However it does not have any impact on the true and fair view of the state of affairs in case of Balance Sheet and Statement of Profit and Loss.
6. RELATED PARTY DISCLOSURES :
As per the Accounting Standard 18, disclosures of related parties (as identified by the management), as defined in the Accounting Standard are given below:
7. There are neither any imports on CIF basis nor any expenditure or earnings in foreign currency.
8. Previous yearâs figure have been regrouped / reclassified, wherever necessary to confirm to this yearâs classification / disclosure. Further the figures have been rounded off to the nearest rupee.
Mar 31, 2014
1. Rights, Preferences and Restrictions Attached to each class of
shares
The Company has only one class of Equity Shares having a par value of
Rs.10/- per share and each holder of the Equity Shares is entitled to
one vote per share.
In the event of liquidation of the Company, the holders of the equity
shares will be entitled to receive any of the remaining assets of the
company, after distribution of all preferential amounts. However, no
preferential amounts exist currently. The distribution will be in
proportion to the number of shares held by the shareholders.
2. The company has not received information from vendors regarding
their status as MSME and hence disclosures as required as per The
Micro, Small and Medium Enterprises Development (MSMED) Act, 2006 have
not been given.
3. MAT CREDIT ENTITLEMENT :
Based on the assessment of the future taxable income, the Management is
of the opinion that there is convincing evidence that the company will
pay normal income tax within the specified period during which MAT
credit is available for set off.
4. In the opinion of the management and to the best of their
knowledge and belief, the value under the head of current and
non-current assets (other than fixed assets and non-current
investments) are approximately of the value stated, if realised in
ordinary course of business, except unless stated otherwise. The
provision for all known liabilities is adequate and not in excess of
amount considered reasonably necessary.
5. SEGMENT REPORTING
The company is organised into two main business segments, namely
trading of shares and trading of doth. The disclosures regarding the
segment information is as follows:
6. There are neither any imports on CIF basis nor any expenditure or
earnings in foreign currency.
7. Previous year''s figure have been regrouped / reclassified,
wherever necessary to confirm to this year''s classification /
disclosure. Further the figures have been rounded off to the nearest
rupee.
Mar 31, 2010
1. Previous year figures have been rearranged/regrouped where ever
considered necessary.
2. The Figures have been rounded off to the nearest of rupees.
3. Since the company has substantial carried forward business loss,
speculation loss and unabsorbed depreciation and as there is
uncertainty of sufficient future taxable income which may be available
for its realization , the deferred tax asset in accordance with
accounting standard 22 issued by the Institute of Chartered Accountants
of India has not been recognized by way pf prudence.
4. RELATED PARTY DISCLOSURE (AS REQUIRED BY AS 1 8) A. Relationship :
i. Holding Company : NIL
ii. Subsidiary Company : NIL
iii. Other related parties where common control exists :
AGARWAL ESTATE ORGANISERS LTD. iv. Key managerial Personnel :
Managing Director: SANJAY C. AGARWAL
Director: JIGNESH R. PATEL
NILESH PATEL
a. UNSECURED LOANS :
(Agarwal Estate Organizers Ltd.)
i. Taken during the year 379713/-
ii. Repaid during the year 1697133/-
Company has not paid any amount to key managerial personnel.
5. SEGMENT REPORTING : During the year company has not carried any
business activities except interest income so the Accounting Standard
17 issued by the Institute of Chartered Accountants of India is not
applicable.
6. Dues to Small Scale Industrial Units
As per information available with the company no amount is outstanding
for more than 30 days from Small Scale Industrial Units.
7. Loans and advances includes Rs.12308983/- (previous year
Rs.10991563/-) due from a company in which director is interested.
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