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Mishka Finance and Trading
BSE: 512191|ISIN: INE231N01024|SECTOR: Finance - Investments
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Mar 12
Notes to Accounts Year End : Mar '13
Note 1 : Information required under Para 3 (ii) (b) of Part II of
 Schedule VI to the Companies Act, 1956 in respect of items traded
 during the year:
 
 a. Since the Company is in the business of trading, the provisions
 regarding licensed and installed capacity, as well as production & raw
 - material consumption are not applicable.
 
 b. Details of items traded 
 
 Note 2 : Provisions, Contingent Liabilities & Contingent Assets :
 
 Provisions involving substantial degree of estimation in measurement
 are recognized when there is a present obligation as a result of past
 event and it is probable that there will be an outflow of resources.
 Contingent liabilities are not recognized but are disclosed in the
 notes. Contingent Assets are neither recognized nor disclosed in the
 financial statements.
 
 Note 3 : The Company has not received any intimation from suppliers
 regarding their status under theMicro, Small and Medium Enterprises
 Development Act, 2006 and hence disclosures if any, relating to amounts
 unpaid as at the year end together with the interest paid/payable as
 required under the said Act have not been given.
 
 Note 4 : Disclosures under accounting standards: i.  Segment Reporting
 (AS-17):
 
 The Company operates in the business of Trading. It operates only in
 Domestic Market, hence there is no business / geographical segments to
 be reported as required under Accounting Standard (AS-17) Segment
 Reporting issued by the Institute of Chartered Accountants of India.
 
 ii. Related Party Disclosure (AS-18):
 
 Related Party Disclosure under AS-18 issued by the Institute of
 Chartered Accounts of India. The Management has informed that all the
 transactions entered during the previous year with various parties do
 not fall within the purview of the Accounting standard 18 Related
 Party Transaction issued by the Institute of Chartered Accountants of
 India. The related parties of the company at March 31, 2013 are as
 follows:
 
 a.  Promoter Group :
 
 - Embassy Finance & Consultants Pvt Ltd
 
 b.  Directors & Key management personnel :
 
 - Ankit Garodia - Director
 
 - Jugalkishore Pralhadrai Sharma - Director
 
 - Amit Kumar Vasishtha - Additional Director
 
 - Rameshwar Manohar Wagh - Additional Director
 
 c.  Summary of significant related party transactions
 
 The nature and volume of transaction of the company during the year
 with the above parties were as follows:
 
 Note 5 : The Company had given Inter-Corporate deposit and loans and
 advances from the surplus fund left over after using of working
 capital.
 
 Note 6 : The balances of Current assets, Current liabilities including
 Sundry Debtors, Sundry Creditors, Loans & advances, Secured & Unsecured
 Loan balances are subject to confirmation.
 
 Note 7 : Figures have been rounded off to the nearest rupee.
 
 Note 8 : Comparative Figures:
 
 Previous year''s figures have been regrouped and rearranged wherever
 necessary to make them Comparable with the figures for the current
 year.
Source : Dion Global Solutions Limited
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