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Moneycontrol.com India | Notes to Account > Food Processing > Notes to Account from KMG Milk Food - BSE: 519415, NSE: N.A
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KMG Milk Food
BSE: 519415|ISIN: INE873N01015|SECTOR: Food Processing
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« Mar 11
Notes to Accounts Year End : Mar '12
(a) Rights/ preferences/ restrictions attached to equity shares
 
 The company has only one class of equity shars having a par value of
 Rs. 10 per share Each holder of equity shares is entiltled to one vote
 per share.
 
 Note : Debit balance of statement of profit and loss shall be shown as
 a negative figure under the head ''Surplus'' Similarly, the balance of
 ''Reserves and Surplus'', after adjusting negative balance of surplus, if
 any, shall be shown under the head ''Reserves and Surplus'' even if the
 resulting figure is in the negative.
 
 I DISCONTINUING OPERATIONS: -
 
 The company has not discontinued operations during the Financial Year
 under review.  
 
 
 ii RELATED PARTY DISCLOURES: -
 
 Particulars of transactions with related party
 
 The following is a summary of significant related party transaction: -
 
 iii CONTINGENT LIABILITIES
 
 1.  No provision has been made in the account for doubtful debts and
 advances. These all are considered by the management as recoverable.
 
 2.  The pending court cases against and for the company is as under:
 
 A In the matter of M/s Goel Agencies Pvt. Ltd/M/s Fair Deal Agencies,
 Ludhiana vs. Company/ Shri Basudev Garg/ Smt. Mithlesh Garg for Rs.6,
 00,528.15 - Ludhiana.
 
 B In the matter of Semen Bank Officer/Haryana Live Stock Development
 Board, Pehowa, Harayana(Milk Cess) vs.  Company for
 Rs.17,90,02,069/-(Including Interest of Rs 15,51,38,319/ - Chandigarh.
 
 C In the matter of Company vs Hitkari Industries Ltd in the Karkadoma
 Court for Rs.1, 85, 000   123671/- Delhi.
 
 D In the matter of Company vs. Paradise Plastopack Pvt ltd in the court
 of Kurukshetra, Haryana and Rohini, Delhi for Rs 2,75,524/-plus
 Interest.
 
 Court Cases for Recovery
 
 A In the matter of Company vs. Baldev Bhui in the Karkadoma Court for
 Rs.1, 30,000/- Delhi.
 
 B In the matter of Company vs. Prem Prakash in the Karkadoma Court for
 Rs.90,000 67,000/- Delhi.
 
 C In the matter of Company vs. Jindal Trading Co. in the Karkadoma
 Court for Rs.84000/- Delhi.
 
 iV The financial statements for the year ended 31st March, 2011 had been
 prepared as per the then applicable, pre- revised Schedule VI to the
 Companies Act,1956. Consequent to the notification under the Companies
 Act,1956, the financial statements for the year ended 31st March, 2012
 are prepared under revised Schedule VI. Accordingly, the previous year
 figures have also been reclassified to conform to this year''s
 classification.
Source : Dion Global Solutions Limited
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