| 1 SHARE CAPITAL
a) Rights and Restrictions of the Equity Shares holders
Following are the rights attached to 30273600 equity shares;
(I) Rights to receive dividend as may be approved by the Board/Annual
General Meeting
(II) Rights to attend the Annual General Meeting of the Company and
right to vote
Apart from the above, the Equity shares rank pari passu and are subject
to the rights, preference and restrictions under the companies Act.
b) There are Nil number of shares (Previous year Nil) in respect of
each class in the company held by its holding company or its ultimate
holding company including shares held by or subsidiary or assoicates of
the holding company or the ultimate holding company in aggregate
c) There are Nil number of shares (Previous year Nil) reserved for
issue under option and contracts/ commitment for the sale of
shares/disinvestment inclusing the terms and amounts.
d) There are no securities (Previous year no)convertible into
Equity/Preferential Shares,
e) There are no calls unpaid (Previous year no) including calls unpaid
by Directors and Officers as on balance sheet date,
f) There is no change in number of shares outstanding at the beginning
and at the end of the year,
02. Segement Results
During the year Company has only one reportable segment, i.e.
manufacturing of Polyester Texturised & Twisted yarn. Hence separate
segment report as required under accounting standard 17 is not
presented.
03. Related Party Disclosures ( As identified by the Management)
i). Related Party Relationships
(a) Where control exists 1) Everest Yarn Agency Pvt.Ltd
2) Teekay International
(b) 100% Subsidiary NIL
(c) Key Management Personnel Mr. Jitendra K. Vakharia
Mrs.Varsha J. Vakharia
(d) Relative of Key Management Nil
Personnel
(e) Other related Parties Nil
04. The Company has not recognised "Deferred Tax Assets" as required by
Accounting Standard 22. Accounting for Taxes on Income" issued by
Institute of Chartered Accountants of India as Company is not certain
that sufficient taxable income will be available against which such
"Deferred Tax Assets" can be realised.
05. a) The amount shown in Trade Payable, and Discount Receivables
from Sundry Creditors under various heads are subject to confirmations.
b) The amount shown under Trade receivable under various heads are
subject to confirmation.
06. In the opinion of the Board, Current Assets, Loans and Advances
are approximately of the same value as stated in the Balance Sheet if
realised in the ordinary course of business.
07. There are no Micro, Small and Medium Enterprises, as defined in
Mircro, Small, Medium Enterprises Development Act, 2006 to whom the
Company owes on account of principal amount together with interest and
accordingly no additional disclosures have been made.
08. Previous year's figures have been regrouped, rearranged or recast
wherever considered necessary, so as to make them comparable with
current year figures.
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