C. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES GENERAL
a. Contingent Liabilities & Commitments
There is significant erosion in value of Inventories held by the Company. The market value of inventories was stood at ' 48.69 Lac at the close of financial year as against purchase cost of Rs.2991.86 Lac. The Company has not provided for difference in cost of inventories and its market value.
b. Additional Information disclosed as per Part II of The Companies Act, 2013 — Nil
c. Segment Reporting -
Based on the Similarity of activities, risks and reward structure, organization structure and internal reporting systems, the Company has structured its operations into the following Segment:-
a. Investments in Capital Market & Mutual Fund related activities and Financing activities
b. Trading in Textile Products viz. yarn
h. Inventories include shares of some quoted companies worth Rs.2991.86 Lacs which are not held in the name of the company. This is in contravention to section 187 of the Companies Act, 2013.
i. Income from Interest on Loan could not be measured and completeness of Interest income accrued as per revenue recognition Accounting Standard - 9 could not be assessed as management was unable to provide the interest income calculation at the time of audit according to loans/ advances made during the current financial on the prorate basis.
j. Previous years’ figures have been regrouped, rearranged wherever necessary to make them comparable with those of current year.
As per our report of even date
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