| 1. Rights, preferences and restrictions attached to shares
Equity Shares :
The company has only one class of equity shares having a par value of
Rs.10 per share. Each shareholder 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 amount in proportion to their shareholding.
2. Contingent Liability
Claim Against the company not
acknowledge as debts Disputed
Income Tax Matter 80 23 855 74 23 855
80 23 855 74 23 855
3. Segment Information:
1 The company has identified two reportable segments vis : Housing
Finance and Construction. Segments have been identified and reported
taking into account nature of services as well as the deferring risks
and returns. The accounting policies adopted for segment reporting are
in line with accountinig policies of the company with the following
additional policies for segment reporting
a. Revenue & Expenditure have been identified to a segment on the basis
of relationship to operating activities of the segment. Expenses which
relate to enterprise as a whole and are not allocate to a segment on
reasonable basis have been disclosed as "Unallocable".
b. Segment assets & segment liabilities represent assets & liabilities
in respective segments. Labilities that cannot be allocated to a
segment on reasonable basis have been disclosed as "unallocable".
2 The construction segment does not satisfy any threshold limits
inrespect of revenue, assets and result, as specified in Accounting
Standard (AS) - 17 "Segment Reporting", hence no separate disclosure is
required.
3 Geographical segment: There is no geographical segment.
4. Related Parties Transactions:Related party disclosures as required
under the Accounting Standard AS - 18 on "Related Party Disclosures"
are given below:
i List of Related Parties & Relationship:
Sr. Name of the Related Party Relationship
No.
1 Shri Navinitbhai C. Patel Key Management Personnel
2 Shri Rushbhbhai N. Patel
3 Smt. Riddhi R. Patel
4 M/s. Vaibhav Laxmi Corporation Key Management Personnel
5 M/s. Chinmay Corporation
6 M/s. Shree Parshwanath Corporation
having control on enterprises
7 M/s. Shree Parshwanath Construction
Corporation
8 M/s. Parshwanath Corporation
9 M/s. Shree Mahavir Farm
10 M/s. Shree Jai Jinendra Farcm
11 M/s. Parshwanath Realty Pvt. Ltd.
12 M/s. Vardhman Finstock Pvt. Ltd.
13 Smt. Indiraben N. Patel Realtive of Key Management
Personnel
5. Deferred Tax :
On consideration of prudence, deferred tax asset is not recognised in
the accounts.
6. Balances in the Accounts of borrowers of housing loans, Trade
Payables and loans and advances are subject to confirmation by the
paries' consequential adjustments, if any, at the company level.
7. Details of Loan given, Investments made and Guarantee given covered
under section 186 (4) of the Companies Act, 2013
"Loans given and investments made are given under the respective heads:
"There are no corporate guarantees given by the company in respect of
loans as at March 31, 2015.""
8. Figures of the Previous years are regrouped where necessary.
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