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0 | Notes to Accounts | Year End : Mar '12 |
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 applicable. c. There are no Shares reserved for issue under options / Contracts / Commitments. 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 the Company. 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. 3. LEASES 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 LIMITED There are no transactions done by the company with Micro Small and Medium Enterprises 6. CONTINGENT LIABILITY / COMMITMENTS Particulars Contingent Liabilities 0 0 Commitments 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. |
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| Source : Dion Global Solutions Limited | |
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