1. Contingent Liabilities not provided for NIL NIL
2. Balances in Debtor''s, Creditors and Deposits accounts are subject to
confirmation. The adjustments, if any, in respect of such confirmation
or any consequent scrutiny arising there from, will be made in the
3. In the opinion of the Board of Directors, the current assets, loans
and advances have a value on realization in ordinary course of
Business. At least equal to the amount at which they are stated.
In compliance with the Accounting Standard (AS) 22 Accounting for
Taxes on Income the company has provided Income-Tax (MAT) of Rs.
144081/-. Further the company has recognized net deferred tax expenses
of Rs. 362765/- (previous year Rs. 501419) in the profit and loss
account for the year.
5. Related Party Disclosures:
a. Associate Companies
Parekh Sons Builders Pvt. Ltd. Parekh Sons Builders Pvt. Ltd.
Maple Communication P. Ltd. Maple Communication P. Ltd.
Maple Publication P. Ltd. Maple Publication P. Ltd.
Maple Realtors P. Ltd Maple Realtors P. Ltd.
Ashmi Parekh & Others Ashmi Parekh & Others
b. Directors and their relatives
Atul Parekh Atul Parekh
Ashmi Parekh Ashmi Parekh
Aditya Parekh Aditya Parekh
Nirali Parekh Nirali Parekh
6. Segment Reporting
The company had been engaged in real estate development activities as
well trading of Transferable development Rights (TDRs). Considering
real estate development and dealing in TDRs, related to real estates,
company has only one single segment of real estates and therefore no
separate segment reporting is furnished.
7. As per Best estimates of the management, no provision is required
to be made as per Accounting Standard (AS 29) Provisions, Contingent
Liabilities and Contingent Assets issued by the Institute of Chartered
Accountants of India, in respect of any present obligation as a result
of past event that could lead to a probable outflow of resources, which
would be required to settle the obligation.
8. The company had incurred expenditure on overseas market
development and survey etc. for its Export
business as well for the sourcing of imports for trading in earlier
years, and part of the expenses were capitalized. The Expenses were
considered as deferred revenue expenditure and are being written off in
three installments, from next year, in which incurred. During the year
an amount of Rs. 315298/- has been written off.
9. Previous year figures have been re-grouped/re-arranged/re-worked
wherever necessary. Figures in brackets pertain to previous year.
10. Schedule A to R form an integral part of the Balance Sheet and
have been duly authenticated.