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Moneycontrol.com India | Notes to Account > Food Processing > Notes to Account from Mavens Biotech - BSE: 590083, NSE: N.A
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Mavens Biotech
BSE: 590083|ISIN: INE856C01047|SECTOR: Food Processing
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« Mar 10
Notes to Accounts Year End : Mar '11
1.  Related Party Disclosures
 
 There is no other company, which is under the same management in which
 the directors of the com- pany are entrusted as directors and / or
 shareholders. There is no transaction with any firm and/ or proprietor
 firm in which the directors of the company are interested as a partners
 or proprietor.
 
 2.  Key Management Personnel
 
 The Key management personnel are the directors, whose names are
 mentioned in the corporate gover- nance report.
 
 3.  The names of Micro Small and Medium Enterprisers suppliers defined
 under ''The Micro Small and Medium Enterprises Development Act, 2006''
 could not be identified, as the necessary evidence is not in the
 possession of the Company.
 
 4.  Liabilities in respect of gratuity & leave encashment and other
 retirement benefits are accounted for on cash basis which is not in
 conformity with Accounting Standard (AS) 15 (Revised 2005) on Employee
 Benefits as issued by the Institute of Chartered Accountants of India
 which requires that Gratuity and Leave Encashment Liabilities be
 accounted for on accrual basis.
 
 5.  In the opinion of the management, there is no impairment of assets
 as on Balance Sheet date.
 
 6.  In the opinion of the management, there are no contingent
 liabilities as on Balance Sheet date.
 
 7.  Deferred Tax:
 
 (a) The company has provided deferred tax in accordance with the
 Accounting Standard-22 Accounting for taxes on Income issued by the
 ICAI.
 
 (b) The break-up of net deferred tax liability as on 31st March, 2011
 is as under:
 
 Particulars                                 Deferred Tax Liability
 
 Tax on Difference between book 
 and Tax Depreciation                        Rs. (138,671/-)
 
 8.  Paise have been rounded off to the nearest rupee.
 
 9.  Schedule A to I from an integral part of Balance Sheet and Profit
 & Loss Account.
 
 10.  Previous year figures have re-grouped or rearranged wherever
 necessary.
Source : Dion Global Solutions Limited
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