1. Terms/Rights attached to the Equity Shares
The Company has only one class of equity shares having a par value of '
10 per share. Each holder of equity shares is entitled to one vote per
share. The Company declares and pays dividends in Indian rupees.
2. 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. This distribution will
be in proportion to the number of equity shares held by the
shareholders.
3. The Company has not reserved any shares for issue under options and
contracts/commitments for the sale of shares/disinvestment.
4. The Company for the period of five years immediately preceding the
date of Balance Sheet has not:
i. Allotted any class of shares as fully paid pursuant to contract(s)
without payment being received in cash.
ii. Allotted fully paid up shares by way of bonus shares.
iii. Bought back any class of shares.
5. DISCLOSURES REGARDING EMPLOYEE BENEFITS :
i) Defined Contribution Plan: Employee benefits in the form of
Provident Fund is considered as defined contribution plan and the
contributions to Employees' Provident Fund Organisation established
under The Employees' Provident Fund and Miscellaneous Provisions Act
1952 is charged to the Statement of Profit and Loss of the year when
the contributions to the respective funds are due.
ii) Defined Benefit Plan: Retirement benefits in the form of Gratuity
are considered as defined benefit obligations and is provided for on
the basis of third party actuarial valuation, using the projected unit
credit method, as at the date of the Balance Sheet. As the Company has
not funded its liability, it has nothing to disclose regarding plan
assets and its reconciliation.
iii) As there is no change in number of employees as well as in their
remuneration during the year, third party acturial valuation has not
been done at the year end and estimated provision has been considered.
ix) Amount incurred as expense for defined contribution to Provident
Fund is ' 120805 (Previous Year ' 122254).
6. EXCEPTIONAL ITEMS
Compensation to employees on full & final settlement
7. CONTINGENT LIABILITIES AND COMMITMENTS
1. Contingent liabilities
a. Disputed Demand NIL (Previous Year NIL)
21.2 Commitments
a. Estimated amount of contracts remaining to be executed on capital
account and not provided for (Net of advances) Nil (Previous year Nil)
b. Uncalled liability on shares and other investments which are partly
paid ' NIL (Previous year ' NIL)
c. Other commitments ' NIL (Previous year ' NIL)
8. In accordance with the provisions of the Companies Act 2013,
effective from 1st April, 2014, the Company has reassessed the
remaining useful lives of its fixed assets prescribed by Schedule II to
the Act or actual useful life of assets, whichever is lower. In case of
any asset whose life has completed as above, the carrying value, net of
residual value of ' 4340421, as at April 1, 2014 has been adjusted to
the Surplus in the Statement of Profit & Loss and in other cases the
carrying value has been depreciated over the remaining of the revised
life of the assets and recognized in the Statement of Profit and Loss.
9. The figures for the previous period are re -grouped, wherever
necessary so as to be in conformity with the figures of the current
period's classification/disclosure.
10. INFORMATION REGARDING MICRO, SMALL AND MEDIUM ENTERPRISES
As the Company has not procured any supply of materials, the provisions
of Micro, Small and Medium Enterprises Act, 2006 are not applicable
11. SEGMENT REPORTING (AS - 17)
As there is neither more than one business segment nor more than one
geographical segment, segment information as per AS - 17 is not
required to be disclosed
12. RELATED PARTY (Disclosure as per Accounting Standard AS - 18)
A) Related parties with whom transactions have taken place during the
year
Key Managerial Personnel
i) Sri Ramesh Kumar Haritwal, Managing Director & CEO
ii) Sri Saurabh Mittal, Non - Executive Chairman
Enterprise ownded/influenced by Key managerial personnel or their
relatives
i) Greenply Industries Ltd.
ii) Greenlam Industries Ltd.
Note : Related Party Relationship is as identified by the Company and
relied upon by the Auditors
13. CURRENTTAX:
In view of brought forward losses, provision for income tax is not
considered necessary
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