| 1. The Financials of the company are prepared and present for a period
of 12 months from 1st April 2014 to 31st March 2015 and previous period
figure are for a period of 12 Months ended 31st March 2014.
2. Details of Auditors' Remuneration As Audit Fee
:Rs.50,000/-(Previous year Rs.50000/-)
3. Related Party Disclosures
Related party disclosures, as required by AS-18, "Related Party
Disclosures", of the Institute of Chartered Accountants of India are
given below:
A) Name of the Related Parties and Nature of relationship based on
Control.
Name of the Party Nature of Relationship
Hitesh M. Patel Managing Director
Bhavna H. Patel Relative of Director
i.The related parties are as under:
Hitesh M. Patel-Managing Director Key Management Personnel (KMP)
namely:
S.No. Name of the KMP Holding Position as on year ending
31-03-2015.
1 Hitesh M. Patel- Managing Director
ii. Transactions with related party
During the period the company has made the following transactions with
related parties :
Name of the Related Nature of Opening Transactions
Party Transaction Balance during Period
the Company Amount Amount in Rs.
in Rs.
Hitesh M.Patel Unsecured loan 2158915 5572000
Relatives of Director Unsecured loan 2072429 2072429
Mr. Hitesh M. Patel
and other directors.
Name of the Related Balance
Party Outstanding as at
31st March 2015
Amount in Rs.
Hitesh M.Patel 7730915
Relatives of Director -
Mr. Hitesh M. Patel
and other directors.
4. Sundry Debtors are subject to confirmations and the balances have
not been confirmed by the individual debtors. Sundry Debtors balances
are confirmed by the management.
5. Contingent Liabilities as on the date of Balance Sheet NIL
6. Schedules referred to in the financial statement form an integral
part of accounts.
|