Mar 31, 2015
1. Rights, Preferences and Restrictions attached to Equity Shares
Equity Share Holder is entitled to one vote per share. In the event of
liquidation of the Company, the holders of equity shares will be
entitled to receive any of the remaining assets of the Company, after
distribution of all preferential amount. Distribution will be in
proportion to the number of equity shares held by the shareholders.
2. Disclosure under the Micro and Small Enterprises Development Act,
2006 :
*The company is compiling information from its suppliers regarding
their status as per the provisions of "Micro, Small and Medium
Enterprise Development Act 2006". Since none of teh suppliers has given
the information under the Act, the company has not provided for any
interest payable under the Act.The company has not received any claim
for interest payable and does not expect such claims, if made later, to
be for material amount.
3. GRATUITY
Company has not got the actuarial valuation of gratuity done which is
the only form of long term defined benefits to the employee. Provision
of the same has been thus not provided as the amount is uncertain. The
company has a policy of accounting for gratuity as and when it is paid.
During the year company has paid Rs.Nil (Previous Year Rs.Nil) as
gratuity.
4. SEGMENT REPORTING
In the opinion of Management the company is engaged only in the
business of maufacturing and trading in non ferrous metals. As such
there is no Reportable Segment as per AS 17 "Segment Reporting"
notified by Ministry Of Corporate Affairs".
5. TRANSACTION WITH RELATED PARTY
Related Parties identified as per Accounting Standard 18 "Related Party
Disclosures" notified by MCA
Key Management Personnel: Relatives of Key Managerial Personnel:
Mr. S. P. Shorewala Mrs. Santosh Shorewala- Relative of Mr. S. P.
Shorewala
Mr. Satish Shorewala Mrs. Neelam Shorewala- Relative of Mr. Satish
Shorewala
Mr. Rohith Shorewala Mrs. Vidhi Shorewala- Relative of Mr. Rohith
Shorewala
Enterprises over which KMP & their relatives have significant influence
ABC Tube Industries Ltd
Delta Pipe Fittings Pvt Ltd
Sincere Distributors Pvt Ltd
6. CAPITAL COMMITMENTS & CONTINGENT LIABILITIES
Estimated amount of contracts remaining to be executed on Capital
Accounts is Rs. Nil (P.Y. Rs. Nil). Contingent Liabilities identified
as on the Balance Sheet date amounts to Rs 45,955 (P.Y. Rs. 45,955 on
account of Property Tax for Dombivali Godown).
7. In the opinion of the Board, all assets other than fixed assets and
non current investments, have a realisable value in the ordinary course
of business which is not different from the amount at which it is stated
in the financial statement.
8. Previous year's figures have been reworked/ regrouped/ rearranged and
reclassified, wherever necessary.
Mar 31, 2013
NOTE NO.1- GRATUITY
Company has not gone for the actuarial valuation of gratuity which is
the only form of long term defined benefits to the employee. Provision
of the same has been thus not provided as the amount is uncertain. The
company has a policy of accounting for gratuity as and when it is paid.
During the year company has paid Rs.Nil (Previous Year Rs.Nil) as
gratuity.
NOTE NO.2- SEGMENT REPORTING
In the opinion of Management the company is engaged only in the
business of maufacturing and trading in non ferrous metals. As such
there is no Reportable Segment as per AS 17 "Segment Reporting"
notified by Ministry Of Corporate Affairs".
NOTE NO.2-TRANSACTION WITH RELATED PARTY
Related Parties identified as per Accounting Standard 18 "Related Party
Disclosures" notified by MCA
Key Management Personnel: Relatives of Key Managerial Personnel:
Mr. Shyamal Prasad Shorewala Mrs. Santosh Shorewala- Relative of Mr.
Shyam Prasad Shorewala
Mr. Satjsh Shorewala Mrs. Neelam Shorewala- Relative of Mr. Shatish
Shorewala
Mr. Rohit Shorewala Mrs. Vldhi Shorewala- Relative of Mr. Rohith
Shorewala
Mr. S. Singhania
Mr. Paras Gandhi
Enterprises over which KMP & their relatives have significant influence
ABC Tube Industries Ltd
Delta Pipe Fittings Pvt Ltd
Sincere Distributors Pvt Ltd
NOTE NO.4- CAPITAL COMMITMENTS & CONTINGENT LIABILITIES
Estimated amount of contracts remaining to be executed on Capital
Accounts is Rs. Nil (P.Y. Rs. Nil). Contingent Liabilities identified
as on the Balance Sheet date amounts to Rs. 45,955 (RY. Rs. 45,955 on
account of Property Tax for Dombivali Godown).
NOTE NO. 5 -ADDITIONAL INFORMATION REQUIRED TO BE DISCLOSED AS PER
REVISED SCHEDULE VI
NOTE NO.6- In the opinion of the Board, all assets other than fixed
assets and non current investments, have a realisable value in the
ordinary course of business which is not different from the amount at
which it is stated in the financial statement.
NOTE N0.7-The Financial Statements have beem prepared as per the
Revised Schedule VI issued by Ministry of Corporate Affairs. Previous
year figures have also been reinstated as per the same. Further the
previous year figures have been regrouped and rearranged wherever
necessary to make them comparative.
Mar 31, 2012
NOTE N0.1- GRATUITY
"Company has not gone for the actuarial valuation of gratuity which is
the only form of long term defind benefits to the employee. Provision
of the same has been thus not provided as the amount is uncertain. The
company has a policy of accounting for "gratuity as and when it is
paid. During the year company has paid Rs.nH (Previous Year Rs.nil) as
gratuity.*
NOTE NQ.2- SEGMENT REPORTING
In the opinion of Management the company is engaged only in the
business of maufacturing and trading in non ferrous metals. As such
there is no Reportable Segment as per AS 17 'Segment Reporting'
notified by Ministry Of Corporate Affairs*.
NOTE MO.3- TRANSACTION WTTH RELATED PARTY
Related Parties identified as per Accounting Standard 18 'Related Party
Disclosures" notified by MCA
Key Management Personnel: Relatives of Key Managerial Personnel:
Mr. Shyamal Prasad Shorewala Mrs. Santosh Shorewala- Relative of Mr.
Shyam Prasad Shorewala
Mr. Satish Shorewala Mrs. Neelam Shorewala- Relative of Mr. Shatish
Shorewala Mr. Rohit Shorewala Mr. S. Singhania Mr. Paras Gandhi
Enterprises over which KMP & their relatives have significant Influence
ABC Tube Industries Ltd Delta Pipe Fittings Pvt Ltd Sincere
Distributors Pvt Ltd
NOTE NO.4- CAPITAL COMMITMENTS & CONTINGENT LIABILITIES
Estimated amount of contracts remaining to be executed on Capital
Accounts is Rs. Nil (P.Y. Rs. Nil). Contingent Liabilities identified
as on the Balance Sheet date amounts to Rs. 45,955 (P.Y. Rs. Nil) on
account of Property Tax for Dombivali Godown.
NOTENO.5-
ln the opinion of the Board, all assets other than fixed assets and non
current investments, have a realisable value in the ordinary course of
business which is not different from the amount at which it is stated
in the financial statement.
NOTENO,6-
The Financial Statements have beem prepared as per the Revised Schedule
VI issued by Ministry of Corporate Affairs. Previous year figures have
also been reinstated as per the same. Further the previous year figures
have been regrouped and rearranged wherever necessary to make them
comparative.
Mar 31, 2011
1. Depreciation charge and revalued amount of assets is adjusted from
capital reserve..
2. Shares Refund Account has been credited short by Rs. 9500 (previous
year Rs. 9500).
3. No Provision of Gratuity and Other Retirement benefit has been
provided during the year, amount being unascertained.
4. Sundry debtors, Loans & Advances & Sundry Creditors are subject to
confirmation from concerned parties.
5. a) In the opinion of the management the provision for all
liabilities are adequate.
b) The current assets are shown in Balance Sheet at their realizable
values.
c) All the expenses paid/provided have been duly incurred for the
purpose of the business of the Company.
6. The Company has not received any intimation from supplier regarding
the status under the Micro.Small And medium enterprises Development
Act-2006 and company has not paid any interest to supplier during the
year, hence disclosure if any relating to the amount unpaid as at year
together with interest paid /payable required under the act has been
not given..
7 Previous year figures has been regrouped and/or rearranged wherever
necessary
Mar 31, 2010
1. Depreciation charge on revalued amount of assets adjusted from
capital reserve..
2. Shares Refund Account has been credited short by Rs. 9500 (previous
year Rs. 9500).
3. No Provision of Gratuity and Other Retirement benefit has been
provided during the year, amount being unascertained.
4. Sundry debtors, Loans & Advances & Sundry Creditors are subject to
confirmation from concerned parties.
5. a) In the opinion of the management the provision for all
liabilities are adequate.
b) The current assets are shown in Balance Sheet at their realizable
values.
c) All the expenses paid/provided have been duly incurred for the
purpose of the business of the Company.
6 Additional information:-
A) Expenditure on employees throughout the year on aggregate
remuneration of at least Rs. 2400000 or em- ployed for part of the year
on an aggregate remuneration of Rs. 200000 per month NIL (previous year
- NIL).
7. The Company has not received any intimation from supplier regarding
the status under the Micro.Small And medium enterprises Development
Act-2006 and company has not paid any interest to supplier during the
year, hence disclosure if any relating to the amount unpaid as at year
together with interest paid /payable required under the act has been
not given..
8 Previous year figures has been regrouped and/or rearranged wherever
necessary
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