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Notes to Accounts of Panth Infinity Ltd.

Mar 31, 2018

Notes to Accounts

34 A. Financial risk management

The Company''s activities are exposed to a variety of market risk (including foreign currency risk and interest risk), credit risk and liquidity risk. The Company''s overall financial risk management policy focuses on the unpredictability of financial markets and seeks to minimize potential adverse effects on the Company''s financial performance.

i. Market Risk

Market rate is the risk that arises from changes in market prices, such as commodity prices, foreign exchange rates, interest rates etc. and will affect the Company''s income or the value of its holdings of financial instruments. The objective of market risk management is to manage and control market risk exposure within acceptable parameters, while optimising returns.

a. Interest Rate Risk

Interest rate risk is the risk that the fair value or future cash flows of a financial instrument will fluctuate because of changes in market interest rates. Currently company not take any loan facility and use own fund for its business so interest risk is very low.

b. Foreign Currency Exchange Rate Risk Company not do any transaction in foreign currency so company has no risk.

ii. Credit Risk

Credit risk refers to the risk that counterparty will default on its contractual obligations resulting in a loss to the Company. The Company has adopted a policy of only dealing with creditworthy counterparties as a means of mitigating the risk of financial loss from defaults.

The Company performs ongoing credit evaluation of its counterparties'' financial conditions. The Company''s major classes of financial assets are cash and bank balances, trade receivables, Security deposits, Advances to Suppliers and Employees, Unbilled Revenues and prepayments.

As at the reporting date, the Company''s maximum exposure to credit risk is represented by the carrying amount of each class of financial assets recognised in the statements of financial position.

As at the reporting date, substantially all the cash and bank balances as detailed in Note 8 to the financial information are held in major Banks which are regulated and located in the India, which management believes are of high credit quality.

iii. Liquidity Risk

Liquidity risk arises from the Company''s management of working capital. It is the risk that the Company will encounter difficulty in meeting its financial obligations as they fall due.

The Company has obtained fund based and non-fund based working capital credit facility from various banks. Company''s policy is to ensure that it will always have sufficient cash to allow it to meet its liabilities when they become due. The principal liabilities of the Company arise in respect of the trade and other payables. Trade and other payables are all payable within 12 months.

The Company manages liquidity risk by maintaining adequate surplus, banking facilities and reserve borrowing facilities by continuously monitoring forecasts and actual cash flows.

The Company has a system of regularly forecasting cash inflows and outflows and all liquidity requirements are planned.

Forecast for trade and other payables is regularly monitored to ensure timely funding.

All payments are made within due dates.

The Board receives cash flow projections on a regular basis as well as information on cash balances.

35 Capital Risk Management

The Company manages its capital to ensure that the Company will be able to maintain an optimal capital structure so as to support its businesses and maximise shareholder value. To achieve this objective, the Company may make adjustments to the capital structure in view of changes in economic conditions, such as adjusting the amount of dividend payment, returning of capital to shareholders or issuing new shares. Currently, Company have no debt in company and use own capital and reserve and surplus.

36

Financial Instruments measurements and disclosures (Rs. In Lakh)

a.

Financial Instruments by Category As on March 31, 2018

FVTPL

FVOCI

Amortised cost

Total carrying value

Financial Assets:

Measured at Fair Value

Investments

Equity Share

-

501.00

-

501.00

Not Measured at Fair Value

Trade Receivables

-

-

858.85

858.85

Cash and cash equivalents

-

-

2.75

2.75

Advance Paid

-

-

6.15

6.15

Security Deposit

-

-

0.85

0.85

Other Current Assets

-

-

2.80

2.80

Total

-

501.00

871.41

1,372.41

Financial liabilities:

Not measured at fair value

Trade Payable

-

-

96.78

96.78

Other Current Liabilities

-

-

5.65

5.65

Total

-

-

102.43

102.43

Financial Instruments by Category As on March 31, 2017

FVTPL

FVOCI

Amortised cost

Total carrying value

Financial Assets:

Measured at Fair Value

Investments

Equity Share

-

309.88

-

309.88

Not Measured at Fair Value

Trade Receivables

-

-

1,077.52

1,077.52

Cash and cash equivalents

-

-

49.19

49.19

Advance Paid

-

-

6.15

6.15

Security Deposit

-

-

0.85

0.85

Other Current Assets

-

-

0.70

0.70

Total

-

309.88

1,134.42

1,444.30

Financial liabilities:

Not measured at fair value

Trade Payable

-

-

139.52

139.52

Other Current Liabilities

-

-

5.51

5.51

Total

-

-

145.03

145.03

Financial Instruments by Category As on April 01, 2016

FVTPL

FVOCI

Amortised cost

Total carrying value

Financial Assets:

Measured at Fair Value

Investments

Equity Share

-

262.67

-

262.67

Not Measured at Fair Value

Trade Receivables

-

-

903.77

903.77

Cash and cash equivalents

-

-

103.33

103.33

Advance Paid

-

-

6.15

6.15

Security Deposit

-

-

0.85

0.85

Other Current Assets

-

-

0.58

0.58

Total

-

262.67

1,014.68

1,277.34

Financial liabilities:

Not measured at fair value

Trade Payable

-

-

128.13

128.13

Other Current Liabilities

-

-

5.55

5.55

Total

-

-

133.68

133.68

b.

Fair value hierarchy

The following table presents the fair value hierarchy of assets and liabilities measured at fair value on a recurring basis, it also includes the financial instruments which are measured at amortised cost for which fair values are disclosed.

(Rs. In Lakh)

As on March 31, 2018

Level 1

Level 2

Level 3

Total

Financial Assets:

Measured at Fair Value

Investments

Equity Share

367.00

-

134.00

501.00

Not measured at fair value (Refer Footnotes)

Total

367.00

-

134.00

501.00

Financial liabilities:

Not Measured at Fair Value (Refer Footnotes)

As on March 31, 2017

Level 1

Level 2

Level 3

Total

Financial Assets:

Measured at Fair Value

Investments

Equity Share

18.38

-

291.50

309.88

Not measured at fair value (Refer Footnotes)

Total

18.38

-

291.50

309.88

Financial liabilities:

Not Measured at Fair Value (Refer Footnotes)

As on April 01, 2016

Level 1

Level 2

Level 3

Total

Financial Assets:

Measured at Fair Value

Investments

Equity Share

25.17

-

237.50

262.67

Not measured at fair value (Refer Footnotes)

Total

25.17

-

237.50

262.67

Financial liabilities:

Not Measured at Fair Value (Refer Footnotes)

Footnotes:

The Company has not disclosed the fair value of financial instruments such as trade receivables, trade payables, advances, security deposits, other current assets and liabilities etc. because their carrying amounts are a reasonable approximation of fair value.

c.

Fair value hierarchy:

The fair value hierarchy is based on inputs to valuation techniques that are used to measure fair value that are either observable or unobservable and consists of the following three levels:

1. Level 1: Level 1 hierarchy includes financial instruments measured using quoted prices in an active market. This included listed equity instruments, traded debentures and mutual funds that have quoted price. The fair value of all equity instruments (including debentures) which are traded in the stock exchanges is valued using the closing price as at the reporting period. The mutual funds are valued using the closing NAV.

2. Level 2: Level 2 hierarchy includes financial instruments that are not traded in an active market (for example, traded bonds/ debentures, over the counter derivatives). The fair value in this hierarchy is determined using valuation techniques which maximize the use of observable market data and rely as little as possible on entity-specific estimates. If all significant inputs required to fair value an instrument are observable, the instrument is included in level.

3. Level 3: If one or more of the significant Inputs is not based on observable market data, the instrument is included in level 3. Fair values are determined in whole or in part using a valuation model based on assumptions that are neither supported by prices from observable current market transactions in the same instrument nor are they based on available market data. Financial instruments such as unlisted equity shares, loans are included in this hierarchy.

d.

Valuation technique used to determine fair value

Specific valuation techniques used to value financial instruments include: a) the use of quoted market prices for the equity instruments, b) b) the fair value of the unlisted shares are determined based on the income approach or the comparable market approach. For these unquoted investments categorised under Level 3, their respective cost has been considered as an appropriate estimate of fair value because of a wide range of possible fair value measurements and cost represents the best estimate of fair value within that range. c) c) the fair value of the remaining financial instruments is determined using the discounted cash flow analysis.

37

i. Non-current assets All non-current assets of the company are located in India.

ii Going Concern-The annual financial statement has been prepared on the basis of accounting policies applicable to a going concern. This basis presumes that funds will be available to finance future operations and that the realization of assets and settlement of liabilities, contingent obligations will occur in ordinary course of business.

iii Events after the reporting period-There are no events after the balance sheet date that require disclosures.

iv. Approval of financial statements These financial statements were approved by the board of directors and authorised for issue on 30th May, 2018.

In terms of our report attached

For and on behalf of the Board of Directors

For A Biyani & Co

Ashutosh Biyani

Shwet Koradiya

Surbhi M udgal

Rahul Jalavadiya

Proprietor

Chairman & Director

Director

CEO

Membership No- 165017

DIN: 03489858

DIN: 07289164

PAN: ARBPJ0742Q

Firm Regd. No. 140489W

Place: Surat

Place: Surat

Date : 30-05-2018

Date : 30-05-2018


Mar 31, 2016

1. Related Party Disclosures

In accordance with accounting standard 18 “Related Party Disclosure” issued by the Institute of Chartered Accountant of India, the Company has compiled the required information is as under :-

Key Managerial Personnel

Mr. Dhirajbhai Vaghjibhai Koradiya( Managing Director)

Mr. Shwet Dhirajbhai Koradiya(Chief Financial Officer)

Companies/Entities under the Control of Key Management Personnel Pure Giftcarat Limited Pure Weblopment Limited Virvani Trade Private Limited

Note: Related parties have been identified by the Management.

Transactions with Related Parties:

There are following transaction with related parties during the year ended on 31.03.2016.

Note:-2. Represent Investment made in Pure Giftcarat Limited and Pure Weblopment Limited. 2. Represent transaction with Pure Giftcarat Limited.

3. Segment Reporting: The Company has identified business segments as its primary segment and geographic segments as its secondary segment. The segment reporting policies complies with the accounting policies adopted for preparation and presentation of financial statements of the Company and in conformity with accounting standard-17 on segment reporting issued by ICAI.

a) Business Segment :

The Company is operates in two segments namely in the business of trading of Precious Metals, Stones & Jewellery and Real Estate business. Hence the entire revenue and expenses pertains to these segments. Assets and liabilities that are directly attributable or allocable to segments are disclosed under each reportable segment. All other assets and liabilities are disclosed as unallowable.

b) Geographical Segment:

Since all the operations of the Company are conducted within India as such there is no separate reportable geographical segment.

4. In the opinion of the Board of Directors of the Company, the other Current Assets, Loans and Advances have a value realizable in the ordinary course of business at least equal to the amount at which they are stated and provisions for all known liabilities are adequate and not in excess of the amount reasonably necessary.

5. These financial statements have been prepared in the format prescribed by the revised Schedule III to the Companies Act, 2013. Previous period figures have been recanted/ restated to conform to the current period. Figures have been rounded off to the nearest Rupee.


Mar 31, 2015

1 Corporate information

Synergy Bizcon Limited is a Public company incorporated on 29th April, 1993 under Companies Act 1956. The Registered Office of the company is situated at 404, Navneet Plaza, 5/2, Old Palasia, Indore (M.P.)-452001 and having Corporate Office-101, Siddh Chambers,Taratiya Hanuman Street, Gurjar Falia, Haripura,Surat-395003, Gujarat. Its shares are listed on Bombay Stock Exchange in India. The Company is Currently Engaged in Business of Diamond, precious Metals and Stones Trading and Real Estate.

2.1

As per Accounting Standard 15 "Employee benefits", the disclosures as defined in the Accounting Standard are given below :

All employee benefits payable wholly within twelve/operating cycle months of rendering the service are classified as short-term employee benefits. Benefits such as salaries, wages, and short term compensated absences, etc. are recognized in the period in which the employee renders the related services. There is no defined benefit plans during the period. No managerial remuneration has been paid during the period to the director.(Previous year Nil.)

3 Related Party Disclosures

In accordance with accounting standard 18 " Related Party Disclosure" issued by the Institute of Chartered Accountant of India, the Company has compiled the required information is as under :-

Key Managerial Personnel

Mr. Dhirajbhai Vaghjibhai Koradiya (Managing Director)

Mr. Shwet Dhirajbhai Koradiya (Director/ Chief Financial Officer)

Note: Related parties have been identified by the Management.

Transactions with Related Parties: There are following transaction with related parties during the period ended on 31.03.2015.

4 Segment Reporting: The Company has identified business segments as its primary segment and geographic segments as its secondary segment. The segment reporting policies complies with the accounting policies adopted for preparation and presentation of financial statements of the company and in conformity with accounting standard-17 on segment reporting issued by ICAI.

a) Business Segment :

The Company is operates in three segments namely in the business of diamonds trading, real estate business & shares trading business. Hence the entire revenue and expenses pertains to these segments. Assets and liabilities that are directly attributable or allocable to segments are disclosed under each reportable segment. All other assets and liabilities are disclosed as unallocable.

5 In the opinion of the Board of Directors of the Company, the other Current Assets, Loans and Advances have a value realizable in the ordinary course of business at least equal to the amount at which they are stated and provisions for all known liabilities are adequate and not in excess of the amount reasonably necessary.

6 These financial statements have been prepared in the format prescribed by the revised Schedule III to the Companies Act, 2013. Previous period figures have been recasted/ restated to confirm to the current period. Figures have been rounded off to the nearest Rupee.


Jun 30, 2014

1. CORPORATE INFORMATION

"Synergy Bizcon Limited is a Public company incorporated on 29th April,1993 under Companies Act 1956.The Registered Office of the company is situated at 404, Navneet Plaza, 5/2, Old Palasia, Indore . Its share are listed on a recognised stock exchange in India. The Company is engaged in the business of share and Diamond trading. No money circulating scheme shall be carried on by the company."

2. (i) Terms/Rights attached to equity Shares

Equity Shares : The company has only one class of equity shares having par value of Rs.10 per share. Each share holder is eligible for one vote per share held. In the event of liquidation, the equity shareholders are eligible to receive the remaining assets of the Company after distribution of all preferential amounts, in proportion to their shareholding. The distribution will be in proportion to the number of equity shares held by the shareholders.

3. As per Accounting Standard 15 "Employee benefits", the disclosures as defined in the Accounting Standard are given below :

All employee benefits payable wholly within twelve/operating cycle months of rendering the service are classified as short-term employee benefits. Benefits such as salaries, wages, and short term compensated absences, etc. are recognized in the period in which the employee renders the related services. There is no defined benfit plans during the period. No managerial remuneration has been paid during the period to the director.(Previous year Nil.)

4. Related Party Disclosures

In accordance with accounting standard 18 "Related Party Disclosure" issued by the Institute of Chartered Accountant of India, the Company has compiled the required information is as under :- Key Managerial Personnal

Mr. Dhirajbhai Vaghjibhai Koradiya (Managing Director)

Mr. Shwet Dhirajbhai Koradiya (Chief Finance Officer)

Transactions with Related Parties: There are no transaction with any of the related parties during the period ended on 30.06.2014.

5. Segment Reporting

a) Business Segment :

The Company is mainly engaged in the business of Dimonds and shares trading. All other activities of the Company revolve around the main business and as such there is no separate reportable business segment.

b) Geographical Segment:

Since all the operations of the Company are conducted within India as such there is no separate reportable geographical segment.

6. Various items included under the head Current Assets, Loan & Advances, as well as Current Liabilities are subject to confirmation / reconciliation.

7. In the opinion of the Board of Directors of the Company, the other Current Assets, Loans and Advances have a value realizable in the ordinary course of business at least equal to the amount at which they are stated and provisions for all known liabilities are adequate and not in excess of the amount reasonably necessary.

8. These financial statements have been prepared in the format prescribed by the revised Schedule VI to the companies Act 1956. Previous period figures have been recasted / restated to confirm to the current period. Figures have been rounded off to the nearest Rupee.


Sep 30, 2013

1. CORPORATE INFORMATION

The Registered Office of the company is situated at 404, Navnit Plaza, 5/2, Old Palasia, Indore.

The Company engaged in the business of Construction & Share Trading.

2. Related party disclosures:

The company has not transacted with any related party during the year (previous year NIL)

3. CIF value of Imports

The company has not made any imports during the period. (Previous year NIL)

4. Expenditure in foreign currency:

The company has not made any expenditure in foreign currency during the period. (Previous year NIL)

5. Earnings in foreign currency:

The company has not made earning in foreign currency during the year. (Previous year NIL)

6. Dividend remittance in foreign currency

The company has not made any payment of dividend in foreign currency during the year (Previous year NIL)

7. Capital commitments and contingents liabilities:

(a) Estimated amount of contracts remaining to be executed on capital account and not provided in the books of accounts is NIL. (Previous year NIL)

(b) The company does not have any contingent liabilities at the end of the period (Previous year NIL)

8. The Company do not have any employees who are drawing remuneration of Rs. 5.00 Lakh per month or Rs. 60.00 Lakh per annum. (Previous year Nil)

9. Previous year figure have been regrouped / reclassified wherever necessary to make them comparable with the current period.

10. The accounts are prepared omitting paise.


Sep 30, 2012

1. CORPORATE INFORMATION

The Registered Office of the company is situated at ST-3, 22 Press Complex, A.B Road, Indore.

The Company engaged in the business of Construction & Share Trading.

2. Related party disclosures:

The company has not transacted with any related party during the year (previous year NIL)

3. CIF value of Imports

The company has not made any imports during the period. (Previous year NIL)

4. Expenditure in foreign currency:

The company has not made any expenditure in foreign currency during the period. (Previous year NIL)

5. Earnings in foreign currency:

The company has not made earning in foreign currency during the year.(Previous year NIL)

6. Dividend remittance in foreign currency

The company has not made any payment of dividend in foreign currency during the year (Previous year NIL)

7. Capital commitments and contingents liabilities:

(a) Estimated amount of contracts remaining to be executed on capital account and not provided in the books of accounts is NIL. (Previous year NIL)

(b) The company does not have any contingent liabilities at the end of the period (Previous year NIL)

8. The company do not have any employees who are drawing remuneration of Rs.25000 per month or Rs.300000 per annum. (Previous year Nil)

9. Previous year figure have been regrouped / reclassified wherever necessary to make them comparable with the current period.

10. The accounts are prepared omitting paise.


Sep 30, 2011

1. Segment Reporting

(a) Segment accounting policies

The segment reporting policies complies with the accounting policies adopted for preparation and presentation of financial statements of the company and in conformity with accounting standard-17 on segment reporting issued by ICAI.

(b) The company operates in two segments namely Construction and share trading.

2. Related party disclosures:

The company has not transacted with any related party during the year.(previous year Nil)

3. CIF value of imports

The company has not made any imports during the period. (Previous year NIL)

4. Expenditure in foreign currency:

The company has not made any expenditure in foreign currency during the Period. (Previous year NIL)

5. Earnings in foreign currency:

The company has not made earnings in foreign currency during the year. (Previous year Nil)

6. Dividend remittance in foreign currency

The company has not made any payment of dividend in foreign currency during the year (Previous year NIL)

7. Capital commitments and contingents liabilities:

(a) Estimated amount of contracts remaining to be executed on capital account and not provided in the books of accounts is NIL.(Previous year NIL)

(b) The company does not have any contingent liabilities at the end of the period . (Previous year NIL)

8. Previous year figure have been regrouped / reclassified wherever necessary to make them comparable with the current period.

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