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-1.5 (-3.61%)| Notes to Accounts | Year End : Mar '12 |
1. Previous Year''s Figures Previous Year''s Figures have been regrouped, rearranged and reclassified whenever necessary to make them confirm to this year''s classification. 2. Company''s Act Requirement Under Section 217(2A) Expenditure incurred for employee as specified in Section 217(2A) of the Companies Act, 1956 read with the Companies (Particulars of Employees) Rules, 1975 is NIL. 3. Provisions Company has made all necessary provisions and the amounts are reasonably adequate. 4. Current Assets, Loans & Advances In the opinion of the Board the Value on realization of Current Assets. Loans & Advances if realized in the ordinary course of the business shall not be less than the amount, which is stated, in the current year''s Balance Sheet, the provision for all known liabilities is adequate and not in excess of the amount considered reasonably necessary. 5. Amount Due to Micro, Small & Medium Scale Enterprises Unit There are no Micro, Small & Medium Scale Enterprise, to whom the Company owes dues, which are outstanding for more than 45 days at March 31, 2012. This information is required to be disclosed under the Micro, small and Medium Enterprise Developments Act, 2006 has been determined to the extent such parties have been identified on the basis of information available with the Company. 6. Contingent Liabilities In the Opinion of the Board Contingent Liability is NIL. 7. Employee Benefits i) The Company has recognized the following amounts in the Profit & Loss Account towards contributions to Provident Fund : Contribution towards Provident Fund : Rs. 573,173/- ii) The Gratuity Benefits have been valued in accordance with the rules of Gratuity framed by the company. Defined Benefit Obligation-Gratuity Benefit as per revised Accounting Standards 15. d) Changes in the fair value of plan assets representing reconciliation of the opening and closing balances thereof are as follows: As the company has no funded plan so Opening and Closing fair value in plan assets and changes in thereof is NIL. e) The major categories of plan assets as a percentage of total plan assets are as follows: The company has no funded plan. The estimates of future salary increase, considered in actuarial valuation, take account of inflation, seniority, promotion and other relevant factors, such as supply and demand in the employment market. The above information is as certified by the actuary and relied upon the auditors. 8. Segmental Information: The Company has only one segment as its total investment is in Sand Castings only. |
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| Source : Dion Global Solutions Limited | |
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