Ridhi Synthetics Ltd. (CIN L51900MH1981PLC025265) (the Company) is a
public limited company domiciled in India and incorporated under the
provisions of the Companies Act, 1956.
It''s shares are listed on the BSE Limited in India. The company is
presently engaged in activities of investments in shares and
Basis of Preparation
The financial statements have been prepared under the historical cost
convention, in accordance with the Accounting Standards issued by the
Institute of Chartered Accountants of India and the provisions of the
Companies Act, 1956 as adopted consistently by the company.
All income and expenditure having a material bearing on the financial
statements are recognized on accrual basis.
(a) As the Company does not have distinguishable business segments, the
requirement to give segment reporting as per Accounting Standard (AS
17) on Segment Reporting is not applicable
(b) Related Party Disclosures :
List of related parties
(a) Key Management Personnel - Shri J.K. Jain - Director
(b) Relatives of Key Mangement Personnel - Shri Satyapal Jain, Mrs.
Sushma Jain, Mrs. Rina Jain
Note : Related party relationship is as identified by the management.
Previous year''s figures are given in bracket.
(c) As per consent terms passed by the Court of Small Causes at Mumbai,
the company has received arrears of rent of Rs. 1,00,37,382 from a
tenant for the period 01-12-01 to 18-06-07. Against this income, only
Rs. 14,389 was shown as outstanding and hence the balance amount is
treated as current years income.
(d) Balance of debtors, creditors and other advances are subject to
confirmation. However, in the opinion of the Board, Current Assets,
Loans and Advances have value which on realization, in the ordinary
course of business would at least be equal to the amount at which they
(e) Previous year''s figures have been regrouped/reclassified wherever
necessary to conform to current year presentation.
(b) The per value of Equity Share is Rs. 10.
(c) The terms / Rights attached to the Equity Shares :
The Company has only one class of Equity Shares. Each holder of equity
shares is entitled to one vote per share. The Equity shareholders are
entitled to dividend only if dividend in a particular financial year is
recommended by the Board of Directors and approved by the members at
the annual general meeting of that year. In the event of the
liquidation of the Company, if the assets available for distribution
are less than the paid up share capital, then the shortfall will be
borne by the members proportionately. Where there is an excess, the
same shall be distributed proportionately amongst the members.