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Moneycontrol.com India | Notes to Account > Edible Oils & Solvent Extraction > Notes to Account from Umred Agro Complex - BSE: 519477, NSE: N.A
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Umred Agro Complex
BSE: 519477|SECTOR: Edible Oils & Solvent Extraction
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Umred Agro Complex is not traded in the last 30 days
Umred Agro Complex is not listed on NSE
Mar 12
Notes to Accounts Year End : Mar '13
1. Consequent to the notification of Revised
 Schedule VI under Companies Act 1956, the Financial statements for the
 year ended on 31st March 2013 are prepared as per Revised Schedule VI.
 Previous year''s figures have also been regrouped to confirm the current
 Years classification.
 
 2.Figures have been rounded off to the nearest place of second
 decimal, where specified in Rs. Lacs. The figures specified in full
 value have been rounded off to the nearest rupee.
 
 3.CONTINGENT LIABILITIES NOT PROVIDED FOR:
 
 a) Pending disputes of quality/ quantity regarding sale/ purchase.
 Adjustments in respect of these matters are made in the Profit
 
 & Loss A/C as and when they are settled with the party.
 
 b) Claims, counter claims arising out of disputes/ litigation regarding
 trade transactions, contracts, Joint Ventures, Memorandum of
 Understandings, sale/ purchase arrangements, processing agreements, not
 acknowledged as liabilities.
 
 c) The amount of Rs. 8.16 Lacs towards recompense of sacrifices made by
 Maharashtra State Electricity Distribution Company Limited (MSEDCL)
 under Rehab Scheme (MRS 2004) to be paid after successful completion of
 the Scheme.
 
 d) Details of Disputed Sales Tax dues are as follows:
 
 4.Dividend due on 14% Cumulative Redeemable
 Preference Shares Capital of Rs. 5.00 Lacs from the year 2008-09
 amounting to Rs.  3,50,000/-not paid/provided for.
 
 5.As operations of the company comprise only Solvent Extraction and
 Refinery, no separate Segmental Reporting is considered necessary.
 
 6.On the basis of accounts compiled for the financial year there is no
 taxable income hence, no provision for taxation for the assessment year
 is being made.
 
 7. Deferred tax Assets have not been created in view of Accumulated
 Loss and Unabsorbed Depreciation. This is in conformity of AS-22
 ''Accounting for Taxes on Income issued by ICAI.
 
 8. Earnings in Foreign Exchange Export of Goods on F.O.B. basis during
 the year was Rs Nil
 
 9.  Company has availed the services of the company secretary as
 Retainer.
 
 10.  Company has formed as subsidiary company Mid India Market Systems
 Pvt. Ltd on 14- Feb-2012 for carrying trading activity in goods and
 commodities The company has not transacted any business during the
 financial year 2012-13.
 
 11.  Related parties Disclosure as required by Accounting Standard 18
 of ICAI
 
 a) Key Management Personnel
 
 Mr. Uday S. Kamat, Managing Director Mr. Arvind W. Bakde, Whole Time
 Director Mr. Prashant S.Joshi, Vice President
 
 b) Other Related Parties (Key Management Personnel having Significant
 influence)
 
 M/s Nagpur Imports and Exports Pvt. Ltd.
 
 M/s Vibrant Market Themes Pvt. Ltd.
 
 M/s YashAgro Energy Ltd.
Source : Dion Global Solutions Limited
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