| 1. SHARE CAPITAL :
(a) Terms/rights, preferences and restrictions attached to securities:
Equity Shares:
The company has only one class of equity shares having a face value or
' 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 ensuring Annual General Meeting.
During the year ended 31st March 2015 the amount of per share dividend
recognized as distributions to equity shareholders is '0/-.
In the events of liquidation of the company, the holders of equity
shares will be entitled to remaining assets of the company, after
distribution of all preferential amounts. The distribution will be in
proportions to the number of equity share held by the shareholders.
2. Based on the guiding principle given in Accounting Standard 17, on
Segment Reporting issued by the Institute of the Chartered Accountants
of India, the primary business of the company is processing of
chemicals. Therefore, there are no separate reportable segments as far
as primary segment is concerned.
As the processing of chemicals outside India is NIL, secondary
segment-wise reporting is not required to be shown.
Also the operation of the company is in India and all the Assets and
Liabilities are located in India. The sale is wholly in India and
therefore Geographical analysis is not given.
3. Related party disclosure under Accounting Standard-18 (A) (i) Key
Management Personnel
1. Mr. Dipak N. Patel
(ii) Relative of key management personnel
1. Mrs. Parul D. Patel (Wife of Director) 2. Mr. Nirmit D. Patel (Son
of Director) 3. Mrs.Kusum N Patel (Mother of Director) NOTE: Related
party relationship is as identified by the Company and relied upon by
the Auditors.
4. As the company does not anticipate taxable profit in near future, so
to comply with the Accounting Standard-22 issued by the Institute of
Chartered Accountants of India, New Delhi, the deferred tax asset has
not been provided relating to the previous year.
5. Retirement Benefits:
The provisions of gratuity and retirement benefits are not applicable
to the Company.
6. Balances of Cash and Bank, Trade Receivable, Trade Payable, loans
and advances are subject to confirmation in the ordinary course of
business.
7. The Directors are of the opinion that the current assets stated in
the Balance Sheet are valued at approximately realizable value in the
ordinary course of Business and all known liabilities have been
provided for.
8. Previous year figures have been re-arranged, reclassified and
re-grouped, wherever necessary to make them comparable.
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