| 1.a) Terms/rights attached to equity shares
The company has only one class of equity shares having a par value of
Rs 10/- per share. Each holder of equity shares is entitled to one vote
per share. The dividend if any proposed by the Board of Directors is
subject to the approval of the shareholders in the ensuing Annual
General Meeting. During the year ended 31 March 2015, the company has
not declared any dividend to equity shareholders (31st March 2015: Rs
Nil).
c) Reconciliation of the shares outstanding at the beginning and at the
end of the reporting period.
As at 31/03/2015 As at 31/12/2013
Outstanding at the end of the period Nil Nil
d) The company has not issued any bonus shares or shares for
consideration other than cash or bought back equity shares during the
year or for the period of five years immediately preceding the date of
balance sheet.
2. NON CURRENT INVESTMENTS
Particulars As at 31/03/2015 As at 31/12/2013
Long term Investment 490.12 490.12
Total 490.12 490.12
No Provision for difference between book value and market value of in
value of long term quoted investments and any one of script has been
made since in the opinion of the management such difference is of
temporary nature and do not represent a diminution other than
temporary.
3. DISCLOSURE REQUIRED UNDER SECTION 22 OF THE MICRO, SMALL &
MEDIUM ENTERPRISES DEVELOPMENT AT, 2006.
The company has not received information from vendors regarding their
status under the micro/small & medium enterprises development Act, 2006
hence disclosure relating to amounts unpaid as at the year ended under
this Act has not been given.
4. RELATED PARTIES DISCLOSURE IN ACCORDANCE WITH ACCOUNTING
STANDARD - 18
Key management personnel:
a) Managing Director (b) Director
c) Any other person influenced by key management personnel or their
relatives.
Transactions that have taken place during the year January 1, 2014 to
March 31, 2015 with related parties by the company.
5. The Company's business activities falls within a single primary
business segment viz. Investment and Advisory services, etc. the
disclosure requirements of Accounting Standards (AS-17) "Segment
Reporting " issued by the Institute of Chartered Accountants of India
are not applicable.
6. The liabilities towards the secured loan towards banks, financial
institutions have been fully accounted for, till date.
7. Previous and Current Year figures have been regrouped wherever
found necessary.
8. Various claims receivable of the previous year and liabilities
relating to the previous year have been brought in the current years to
show a true and fair view of the accounts.
9. Balance in Secured Loans, Unsecured Loans, Sundry Creditors,
Debtors, Loans & Advances are subject to confirmation.
10. On the basis of the information available with the Company, there
is no amount due but remaining unpaid as on 31st March, 2015 to any
supplier who is a Small Scale or Ancillary Industrial undertaking.
11. The Compromise & Arrangement as sanctioned by the Hon'ble Gujarat
High Court is in force and being implemented & accounted accordingly.
12. The requirements of Accounting Standard 22 "Accounting for taxes on
income" have been considered and the management is of the opinion that
no deferred tax assets / liability needs to be created.
13. In the absence of the taxable income, no provision for taxation has
been made u/s 115 JB of the Income Tax Act, 1961. However, the tax year
end of the Company being 31st March, 2015 the ultimate liability for
the A.Y. - 2014-15 will be determined on the total income of the
Company for the year ended 31st March, 2015.
14. Auditors Remuneration :
31/03/2015 31/12/2013
Audit Fees 5000 3000
(Excluding Service Tax)
Total 5000 3000
15. The Company has not made any provision for Income Tax as the
Company does not envisage any liability.
16. Information Pursuant to Schedule III of the Companies Act, 2013.
31/03/2015 31/12/2013
a) Earning in Foreign Currency NIL NIL
b) Expenditure in Foreign Currency NIL NIL |