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Conart Engineers

BSE: 522231|ISIN: INE714D01012|SECTOR: Construction & Contracting - Civil
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Conart Engineers is not listed on NSE
« Mar 14
Notes to Accounts Year End : Mar '15
NOTE - 1 :
 
 BACKGROUND
 
 Conart Engineers Limited
 
 listed company and is engaged providing full range of General
 Contracting and Project Management Services for Industrial, Commercial,
 and Residential Construction projects. We service to sectors like Heavy
 Machinery, Pharmaceuticals, Chemicals, Textiles, and Educational. Our
 experience has been Four decades long. Majority of our projects are
 awarded from Private Sectors clients and are based on At-Risk
 Contracting.
 
 NOTE - 2 :
 
 (a) SHARE CAPITAL
 
 a) Terms / rights attached to equity shares :
 
 The Company has only one class of shares referred to as equity shares
 having a par value of Rs.10/- per share. Each holder of equity shares
 is entitled to one vote per share.
 
 In the event of liquidation of the Company, the equity share holders
 will be entitled to receive 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.
 
 NOTE - 3 :
 
 DETAILS OF DEFERD TAX LIABILITY
 
 The Company has during the year in accordance with Account Standard
 AS-22 Accounting for Taxes on Income  issued by the Institute of
 Chartered Accountants of India , Recognized in the profit & loss
 accounts a difference of Rs.16,05845/- Between net, deferred tax
 liabilities of Rs.12,50,539/- As on 31st March 2015 and on the deferred
 tax liabilities of Rs.28,56,384/-As on 31st March,2014
 
 NOTE - 4 :
 
 CONTINGENT LIABILITIES
 
 Guarantee given to the Bank Rs.19,00,000/-(Previous Year Rs.
 1,11,46,952/-)
 
 NOTES - 5
 
 Estimated amount of contract remaining to be executed on capital
 account and not provided for is Nil (Previous year Nil).
 
 Since the company is operating in one segment i.e. construction,
 segment wise reporting is not applicable.
 
 Sundry Debtors and Creditors & advance are subjected to confirmation by
 the respective parties. Necessary Adjustments in account will be made
 in the year in which discrepancy, if any, may be noticed.
 
 NOTE - 6
 
 Sundry Loan & Advances and other assets are, in the opinion of
 management stated at the amount realizable in the ordinary course of
 business and provision for all known and determined liabilities are
 adequate and not in excess of the amounts reasonably required.
 
 NOTE - 7
 
 There are no delays in payments to Micro and Small enterprises as
 required to be disclosed under the Micro, Small and Medium enterprises
 development act 2006. This information has been determined to the
 extent such parties have been identified on the basis of information
 available with the Company. This has been relied upon by the auditors.
 
 Figures have been rounded off to the nearest rupee.
 
 NOTE - 8
 
 Previous year figures have been regrouped / reclassified wherever
 necessary.
 
Source : Dion Global Solutions Limited
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