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Agarwal Industrial Corporation
BSE: 531921|ISIN: INE204E01012|SECTOR: Transport
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Agarwal Industrial Corporation is not listed on NSE
« Mar 09
Notes to Accounts Year End : Mar '10
1 There is no contigent liabilities during this year as well as in the
 previous year.
 
 2 The accounts of the sundry debtors, sundry creditors and certain Loan
 & Advances are subject to confirmation and reconciliation, if any. The
 difference as may notice on reconcilation will be duly accounted for on
 completion thereof.  In the option of management , the ultimate
 difference will not be material .
 
 3 Provision for gratuity has not been made in the books of accounts
 since none of the employees has completed the qualifying period of
 service.
 
 4 In the opinion of the Board and to the best of their knowledge and
 belief, the value of realisation of current assets, loans and advances
 , in the ordinary course of businees would not be less then the amount
 at which they are stated in the Balance-Sheet and provision for all
 known and determined liabilities is adequate and not in excess of
 amount reasonable required.
 
 5 The Company has a Authorised Service Centre of Ashok Leyland at
 Asangaon, Dist. Thane which is a part of transportation business and it
 is included in the transportation business activity in the segment
 reporting.
 
 6 Segment Reporting
 
 The Companys operations relate to the business segments namely
 transportation, service centre, Power Generation by Windmill and
 Manufacturing of Bitumens & Bituminous Products. These business
 segments represents primary basis of information set out in the
 financial statements. In accordance with the Accounting Standard 17 on
 Segment Reporting issued by the ICAI, the segment information for the
 year ended March 31,2010 is as follows:
 
 Segment assets include all operating assets used by a segment and
 consist primarily of debtors,current assets and fixed assets net of
 provisions and allowances.Segment liabilities include all operating
 liabilities and consist principally of creditors and other payables.
 
 7 RELATED PARTIES DISCLOSURES: 
 
 I RELATED PARTIES
 
 A    Key Management Personnel
 
 Mr.Jaiprakash Agarwal , Managing Director
 
 B Relatives of the Key Management Personnel
 
 Mr.Lalit Agarwal
 Mr.Ramchandra Agarwal
 Mr.Mahendra Agarwal
 
 Related parties relationships as stated in (A) to ( B) above are
 identified by the Company as required under Accounting Standard
 18(AS-18) and realted upon by the Auditors
 
 8 The Company has not appointed a Company Secretary as per provisions
 of section 383 A of the Companies Act, 1956.
 
 9 Additional information pursuant to the provision of paragragh 3 , 4
 C and 4 D of Part II of Schedule VI of the Companies Act, 1956 are not
 applicable to the company.
 
 10 (A) Previous year figures have been regrouped whenever necessary .
 
 (B) Figures in bracket are of the previous year .
 
 Schedule A to N have been signed by the Board of Directors and Auditors
 and form an integral part of of Balance Sheet and Profit & Loss Account
Source : Dion Global Solutions Limited
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