a) 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 dividend if any proposed by the Board of Directors is
subject to the approval of the shareholders in the ensuing Annual
General Meeting. During the year ended 31 December 2011, the company
has not declared any dividend to equity shareholders (31 December 2011:
As per records of the company,including its register of
shareholders/members and other declarations received from shareholders
regarding beneficial interest, the above shareholding represents both
legal and beneficial ownership of shares.
b) The company has not issued any bonus shares,or shares for
consideration other than cash or bought back equity shares during the
year or for the period of five years immediately preceding the date of
a) Investments :
No Provision for difference between book value and market value of in
value of long term quoted investments in one script has been made since
in the opinion of the management such difference is of temporary nature
and do not represent a diminution other than temporary.
Note : 1 Disclosure required under section 22 of the Micro, Small &
Medium Enterprises development At, 2006. The company has not received
information from vendors regarding their status under the micro / small
& medium enterprises development Act , 2006, hence disclosure relating
to amounts unpaid as at the year end under this Act has not been given.
1. On the basis of information available with the Company, there is no
amount due but remaining unpaid as on 31st December 2011 to any
suppliers who is a small scale or ancillary industrial undertaking.
2. The requirement of Accounting Standard 22 Accounting for Taxes
on Income have been considered and the management is of the opinion
that no deferred tax assets/liability needs to be created.
3. As per Accounting Standard 22 issued by The Institute of Chartered
Accountants of India during the year, due to the loss, the company has
not provided taxation in Books of Account including deferred tax
liability, as the company does not envisage any such liability in near
4. In the absence of the taxable income, no provision for taxation has
been made U/s.115JB of The Income Tax Act. However, the tax-year end of
the Company being 31/03/2011, the ultimate liability for the A.Y.-2012-
13 will be determined on the total Income of the Company for the year
5. Corresponding figures of the previous year have been regrouped or
restated to make them comparable with current year figures wherever
6. Unsecured Loans, Current Liabilities, Loans & Advances, Deposits
and Sundry Debtors are subject to confirmation and adjustments, if any.
7. Payment to Auditor:
Particulars 2011 2010 Audit Fees (Excluding Service tax) Rs. 2000/- Rs.
10,000/- In Other Capacity Nil Nil
8. Segment Reporting:
The company is engaged in Investment and hence management is of the
opinion that it does not have a reportable primary segment identifiable
in accordance with the Accounting Standard 17 issued by the Institute
of Chartered Accountants of India.
9. Related Party Transactions:
The Company has identified all the related parties as defined under
Accounting Standard 18 Related Party Disclosure issued by the
Institute of Chartered Accountants of India having transactions during
the year, as per details given below. There were no amounts written off
or written back from such parties during the year.