1. Additional information pursuant to the provisions of Schedule VI to
the Companies Act, 1956
2. Disclosure in accordance with Accounting Standard-18 Related Party
(I) Relative of Key Management Personnel
a) Krupalu Fabrics (Prop. H. R. Patel) Father of Director
b) Overseas Textiles (Prop. M. H. Patel
(H.U.F.) Brother of Director
c) Geetaben R. Patel Wife of Director
(II) Key Management Personnel
a) Mr. Rohit. H. Patel Managing Director
b) Mr. Mayur. V. Shah Director
c) Mr. Dinkarbhai. H. Patel Director
(3) Exceptional Item relates profit on sale of immovable property
situated at Nutan Estate, Vasta Devdi Road, Madhav baugh, Katargam,
Surat & residential flats & other fixed assets.
(4) The company is contingently liable in respect of the following:
For guarantees given by the Banks on behalf of the Company to Excise
authority NIL (Pre. Year Rs. 2,00,000/-).
(5) During the year, company has not carried on any operational
activity. Other non- operational activity is only source of income. So
as per Accounting Standard 17
Segment Reporting issued by the ICAI, disclosure of segment
information is not required.
(6) i. Due to non existence with the virtual certainty of foreseeable
future profits, which can absorb the brought forward losses, further
deferred tax assets have not been recognized/created.
ii. No Provision for taxation is made considering the unabsorbed
(7) Previous year figures have been recast and regrouped wherever
necessary to make them comparable with the figures of the current year.
(8) Share Application Money of Rs. Nil (Pre. Year 9.22 Lacs) represents
amount taken from promoters pending allotment of shares.
(9) Information has been provided to the extent applicable under the
revised schedule VI of the Companies Act, 1956 is attached.