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Moneycontrol.com India | Notes to Account > Finance - Investments > Notes to Account from Devine Impex - BSE: 531585, NSE: N.A
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Devine Impex

BSE: 531585|ISIN: INE455C01014|SECTOR: Finance - Investments
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Devine Impex is not listed on NSE
Mar 14
Notes to Accounts Year End : Mar '15
1. No provision for employee retirement benefits has been made in the
 accounts as there are no regular employees during the year.
 
 Note: There is no secondary segment.
 
 2. CURRENT ASSETS, LOANS & ADVANCES
 
 In the opinion of the management, the current assets, loans and
 advances are approximately of the value as stated, if realised in the
 ordinary course of business.
 
 3. CURRENT LIABILITIES
 
 In the opinion of the management of the Company, there are no micro,
 small and medium Enterprises, to whom the Company owes dues, which are
 outstanding for more than 45 days as at March 31, 2015. The information
 as required to be disclosed under the Micro, Small and Medium
 Enterprises Development Act, 2006 has been determined to the extent
 such parties have been identified on the basis of the information
 available with the Company and have been relied upon by the statutory
 auditors of the Company.
 
 4. RELATED PARTY DISCLOSURES
 
 a) Relationship
 
 i) Joint Venture & Associates * Tiara Jewels Private Limited
 
 ii) Key Management Personnel
 
 Sh. Rohitjain
 
 Sh. Parvesh Kumar Oberoi
 
 Sh. Vinay Kumar Sharma
 
 iii) Relatives of Key Management Personnel *
 
 Sh. Jawahar Lai Jain Sh. Neeraj Jain Smt. Manju Jain
 
 iv) Entities of Key Management Personnel *
 
 Jawahar Lai Jain (HUF)
 
 * With whom the Company had transactions during the year.
 
 5. EARNINGS PER SHARE
 
 Basic earnings per equity share has been computed by dividing net
 profit after tax by the weighted average number of equity shares
 outstanding for the period.  Diluted earnings per equity share have
 been computed using the weighted average number of equity shares and
 dilutive potential equity shares outstanding during the year.
 
 6. DEPRECIATION
 
 In terms of Schedule II to the Companies Act, 2013 read together with
 Accounting Standard 6 (AS - 6) Depreciation Accounting, the
 management of the Company has applied the estimated useful lives as
 specified in Schedule II with effect from lstApril, 2014, as disclosed
 in Accounting Policy on Fixed Assets and Depreciation. In terms of
 these evaluations, the useful lives of certain assets required changes
 from their previous estimates, the effect of the same is not material.
 
 7. INCOME TAX Current Tax
 
 Provision for Income tax has been made as per Income-tax Act, 1961.
 
 Deferred Tax
 
 In compliance with Accounting Standard (AS-22) relating to Accounting
 for Taxes on Income issued under Companies (Accounting Standards) Rule
 2014, as amended upto date, the Company has provided Deferred Tax Asset
 accruing during the year aggregating to Rs. 4,300/- (Previous Year
 Deferred Tax Asset Rs.  100/-) and it has been recognized in the
 Statement of Profit & Loss. In accordance with clause 29 of Accounting
 Standard (AS 22) Deferred Tax Assets and Deferred Tax Liabilities have
 been set off.
 
 8. LEASES
 
 Operating leases are mainly in the nature of lease of office premises
 with no restrictions and are renewable/ cancellable at mutual consent.
 There are no restrictions imposed by lease arrangements. 1''here are no
 sub leases.
 
 Lease payments recognized in the statement of profit and loss are Rs.
 1,77,396/- (Previous Year Rs. 1,68,416/-).
 
 9. The Company has re-grouped/reclassified previous year''s figures to
 conform to current year''s classification. Paise have been rounded off
 to nearest rupee.
Source : Dion Global Solutions Limited
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