1. Corporate information
Nivi Trading Limited is a public limited Company and is listed on The
BSE Ltd.The Company was incorporated to cany on business as Traders,
Retailers, Whole-sellers, Exporters etc. of chemicals, dyes,
pharmaceuticals, and other general dyes and other various products.
However, the Company has yet to commence trading operations for lack of
viable propositions. The three Directors of Company are also Directors
on the Board of various Public and Private Limited Companies and thus
there is an high intergrity and ethical value regarding management
2. Basis of preparation
The financial statements have been prepared to comply in all material
respects in respects with the Notified accounting standard by Companies
(Accounting Standards) Rules, 2006, (as amended) and the relevant
provisions of the Companies Act, 1956. The financial statements have
been prepared under the historical cost convention on an accrual basis.
The accounting policies have been consistently applied by the Company
and are consistent with those used in the previous year.
3. Segment reporting
The Company is engaged in trading business in India, which in the
context of Accounting Standard (AS) - 17 Segment Reporting issued by
ICAI is considered to be it''s only business segment and thus no
geographical segment is applicable.
(a) Earnings Per Share
Basic earnings per share are calculated by dividing the net profit or
loss for the period attributable to equity shareholder by the weighted
average number of equity shares outstanding during the period.
For the purpose of calculating diluted earnings per share, the net
profit or loss for the period attributable to equity shareholders and
the weighted average number of shares outstanding during the period are
adjusted for the effects of all dilutive potential equity shares.
A provision is recognised when an enterprise has a present obligation
as a result of past event; it is probable that an outflow of resources
will be required to settle the obligation, in respect of which a
reliable estimate can be made. Provisions are not discounted to its
present value and are determined based on best estimate required to
settle the obligation at the balance sheet date. These are reviewed at
each balance sheet date and adjusted to reflect the current best
(c) Cash and cash equivalents
Cash and cash equivalents in the balance sheet comprise cash at bank
and in hand and short-term investments with an original maturity of
three months or less.
Tax expense comprises of current and deferred tax. Current income tax
is measured at the amount expected to be paid to the tax authorities in
accordance with the Income-tax Act, 1961 enacted in India. Deferred
income taxes reflects the impact of current year timing differences
between taxable income and accounting income for the year and reversal
of timing differences of earlier years.
Deferred tax is measured based on the tax rates and the tax laws
enacted or substantively enacted at the balance sheet date. Deferred
tax assets and deferred tax liabilities are offset, if a legally
enforceable right exists to set off current tax assets against current
tax liabilities and the deferred tax assets and deferred tax
liabilities relate to the taxes on income levied by same governing
taxation laws. Deferred tax assets are recognised only to the extent
that there is reasonable certainty that sufficient future taxable
income will be available against which such deferred tax assets can be
realised. In situations where the Company has unabsorbed depreciation
or carry forward tax losses, all deferred tax assets are recognised
only if there is virtual certainty supported by convincing evidence
that they can be realised against future taxable profits.
(a) Reconciliation of the shares outstanding at the beginning and at
the end of the reporting period
There is no movement of shares during the year and thus there is no
reconciliation statement has been reported. - .
(b) Terms/ rights attached to equity shares
The Company has only one class of equity shares having par value of
RslO per share. Each holder of equity shares is entitled to one vote
per share. The Company declares and pays dividend, if any, in Indian
In the event of liquidation of the Company, the holders of equity
shares will be entitled to receive remaining assets of the Company,
after distribution of all preferential amounts. The distribution will
be in proportion to the number of equity shares held by the
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 ownerships of shares.
Aggregate amount of quoted investments (Market value : Rs. 19,61,411/-
(31 March 2011: Rs. 19,27,157/-))
Aggregate amount of unquoted investments - Mutual fund (NAV: Rs.
13,04,079/- (31 March 2011: Rs.14,63,052/-))
Aggregate amount of unquoted equity investments - Rs. 112,800/-
Aggregate provision for diminution in value of investments - Rs.ll
Related party transactions
The following table provides the total amount of transactions that have
been entered into with related parties for the relevant financial yean
4. Director''s sitting fees
Directors have waived the sitting fees for meetings attended by them
during the year.
5. Previous Year''s figures
Till the year ended 31st March 2011, the Company was using pre-revised
Schedule VI to the Companies Act 1956, for the preparation and
presentation of its financial statements. During the year ended 31st
March 2012, the revised Schdule VI notified under the Companies Act
1956, has become applicable to the Company. The Company has
re-classified previous year figures to conform to this year''s
classification. The adoption of revised Schedule VI does not impact
recognition and measurement principles followed for preparation of
financial statements. However, it significantly impacts presentation
and disclosures made in the financial statements, particularly
presentation of the balance sheet.