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SENSEX NIFTY India | Notes to Account > Finance - General > Notes to Account from Kajal Synthetics & Silk Mills - BSE: 512147, NSE: N.A

Kajal Synthetics & Silk Mills

BSE: 512147|SECTOR: Finance - General
Kajal Synthetics & Silk Mills is not traded in the last 30 days
Kajal Synthetics & Silk Mills is not listed on NSE
Mar 13
Notes to Accounts Year End : Mar '14
1. Terms/Rights attached to equity shares:
 The Company has only one class of equity shares having a par value of
 Rs. 10 per share. Each holder of equity shares is entitled to one vote
 per share. The Company declares and pays dividends in Indian Rupees.
 The Dividend, if any proposed by the Board of Directors is subject to
 approval of the shareholders in the ensuing Annual General Meeting.
 During the year ended 31st March, 2014, the amount of dividend per
 share recognized as distributions to equity shareholders was Rs. Nil
 (Previous Year Rs. Nil) 1
 In the event of liquidation of the Company, the holders of Equity
 Shares will be entitled to receive remaining assets of the Company,
 after distribution of all perferential amount.The distribution will be
 in proportion to the No. of equity shares held by the shareholders.
 Note -2
 Contingent Liability not provided for in respect of
 a Estimated amount of contracts remaining to be executed on capital
 account and not provided for - Rs. Nil (Previous year Rs. Nil)
 b Other Contingent Liability - Rs. Nil (Previous Year. Rs. Nil)
 In the opinion of the Board of Directors, the current assets, loans and
 advances, etc are approximately of the value stated in the accounts, if
 realized in the ordinary course of business, unless otherwise stated.
 The provision of all known liabilities is adequate and not in excess /
 short of amount considered reasonably necessary.
 Note -4
 While determining diminution, other than temporary, in the value of the
 long term quoted investments, the strategic objective of such
 investments and the asset base of the investee companies have been
 considered. In view thereof, the decline, if any, in the market value
 of such investments is considered to be of a temporary nature.
 The Company is duly registered with the Reserve Bank of India (RBI) as
 a Non Banking Financial Company , (NBFC) and the accounts have been
 prepared on the basis of relevant RBI guidelines.
 Note -6
 In Compliance of Section 45-IC of the Reserve Bank of India Act 1934,
 the Company has created Special Reserve out of the profits after tax
 for the year.
 Note 7 - Disclosure in accordance with Section 22 of Micro, Small and
 Medium Enterprises Development Act, 2006
 The Company is engaged in only one business segment i.e. Non Banking
 Financial Services (granting of loans, making Investments, etc.) and as
 such there are no separate reportable segments in accordance with
 Accounting Standard (AS) -17 (Segment Reporting) issued by the
 Institute of Chartered Accountants of India.
 No Deferred Tax Assets have been recognized on unabsorbed Short Term
 Capital Loss as per the Income Tax Act, 1961 considering the prudence
 aspect. However, the position would be reviewed on yearly basis.
 Note - 10
 Inter Corporate Loans given/lnvestments made by the Company are on the
 basis that the principal business of the Company is acquisition of
 shares, stock, debentures or other securities. Accordingly, the Company
 has been legally advised that the provisions of Section 372A of the
 Companies Act, 1956 are not applicable to the
 Note - 11
 The Management has identified the following companies and individuals
 as Related Parties of the Company for the year ended March 31, 2014 for
 the purpose of reporting of Related Party disclosure as required in
 terms of Accounting Standard-18 issued by the Institute of Chartered
 Accountants of India:
 The Company has confirmed that none of the transactions, if any, with
 the related parties were in material conflict with the interest of the
 Note - 12
 Additional Disclosures as required in terms of Paragraph 13 of Non
 Banking Financial (Non-Deposit Accepting or Holding) Companies
 Prudential Norms (Reserve Bank) Directions, 2007 issued by the Reserve
 Bank of India.
 Note - 13
 Previous year''s figures have been regrouped/reclassified wherever
 necessary to conform with the current year''s classification/disclosure.
Source : Dion Global Solutions Limited
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