Basis of Preparation
These financial statements are prepared in accordance with Indian
Generally Accepted Accounting Principles (GAAP) under the historical
cost convention on the accrual basis except for certain financial
instruments which are measured at fair values. GAAP comprises mandatory
accounting standards as prescribed by the Companies (Accounting
Standards) Rules, 2006, the provisions of the Companies Act, 1956 and
guidelines issued by the Securities and exchange board of Indian
(SEBI). Accounting policies have been consistently applied except where
a newly issued accounting standard is initially adopted or a revision
to an existing accounting standard requires a change in the accounting
policy hitherto in use.
a. Terms / Rights Attached to Shares
i. Equity Shares
The Company has only one class of Equity shares having a par value of
10/ Each holder of equity shares is entitled to one vote per share.
The Company declares and pays dividends in Indian rupees if any.
During the Year Ended 31st March 2012 the amount per share dividend
recognized as distributions to equity shareholders was Rs. NIL (For
31st March 2011 was Rs. NIL)
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 amounts. The
distribution will be in proportion to the number of equity shares held
by the shareholders.
b. As there is no Holding Company, details of Shares held by holding /
ultimate holding and or their subsidiaries / associates is not
c. There are no Shares reserved for issue under options / Contracts /
d. No Shares were Issued other than by Cash / Issued by way of Bonus /
Brought Back in immediately preceding Five Years.
e. There are no Securities Issued by the Company which will be
converting into Shares.
f. There are no Calls Unpaid on any class of shares.
1 LONG TERM LOANS & ADVANCES
b. No Loans & Advances have been given to the Director / Officers of
2. SEGMENT REPORTING
a. Identification of Segments
The Operation of Company relates to Only one business segment of
carrying Investments and Trading of Shares and Advances, hence no
separate information is required to be given.
The Company has not accquired any assets either on Finance, lease or
under operating lease on which AS-19-Lease issued by the Institute of
Chartered Accountants of India are applicable.
4. EMPLOYEE BENEFIT
No Provision for Graturity and Leave Encashment as required by AS-15
has been made as the required eligible number of employee with the
Company are below then required by the relevant acts, hence no
disclosure was required to be made.
5. DISCLOSURE UNDER MICRO SMALL AND MEDIUM ENTERPRISES DEVELOPMENT
There are no transactions done by the company with Micro Small and
6. CONTINGENT LIABILITY / COMMITMENTS
Contingent Liabilities 0 0
Estimated Amount of Capital Contracts
Pending to be executed 0 0
Estimated Amount of Revenue Contracts
Pending to be executed 0 0
7. In the opinion of the Board, the Current Assets, Loans & Advances
are approximately of the value which are stated in the Balance Sheet if
realized in the ordinary course of business.
8. PREVIOUS YEAR FIGURES
Till the Year End 31-03-2011 the company was using old schedule VI of
the Companies Act 1956, for the preparation and presentation of its
Financial Statements. During the year ended 31-03-2012, the Revised
Schedule VI notified under the Companies Act 1956, has became
applicable to the Company. The Company has reclassified and regrouped
the Previous Year Figures to confirm the current classification.