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Moneycontrol.com India | Notes to Account > Finance - Housing > Notes to Account from Mehta Housing Finance - BSE: 511740, NSE: N.A
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Mehta Housing Finance
BSE: 511740|ISIN: INE239B01014|SECTOR: Finance - Housing
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Notes to Accounts Year End : Dec '11
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:
 Rs Nil).
 
 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
 balance sheet.
 
 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
 future.
 
 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
 ended 31/03/2012.
 
 5.  Corresponding figures of the previous year have been regrouped or
 restated to make them comparable with current year figures wherever
 necessary.
 
 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.
Source : Dion Global Solutions Limited
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