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SENSEX NIFTY India | Notes to Account > Domestic Appliances > Notes to Account from Jaipan Industries - BSE: 505840, NSE: N.A

Jaipan Industries

BSE: 505840|ISIN: INE058D01030|SECTOR: Domestic Appliances
Oct 18, 16:00
0.38 (4.83%)
Jaipan Industries is not listed on NSE
Mar 14
Notes to Accounts Year End : Mar '15
1.  Nature of operations
 Jaipan Industries Limited (Jaipan or the Company), a public limited
 company was incorporated on 27th April, 1965. The Company is primarily
 engaged in the manufacturing & trading of home appliances.
 The Company''s registered office is at 17, Jai Villa Compound, Cama
 Industrial Estate, Walbhat Road, Goregaon (E), Mumbai -400 063
 Maharashtra, India.
 2.  Basis of preparation of financial statements
 The financial statements have been prepared on the basis of going
 concern under historical cost convention on the accrual basis of
 accounting, and comply in all material aspects with applicable
 Accounting Principles in India prescribed by the Central Government.
 The Accounting Standards notified under Section 211(3C) (which
 continues to be applicable in terms of general circular 15/2013 dated
 September 13, 2013 of the ministry of Corporate Affairs in respect of
 section 133 of the Companies Act, 2013) and the relevant provisions of
 the said Act. The accountings policies have been consistently applied
 by the Company, except for the changes in accounting policy discussed
 in note 13 of Schedule 23 and are consistent with those used in the
 previous year. The financial statements are presented in Indian Rupees,
 unless otherwise specified.
 3.  Contingent liabilities and claims not acknowledged as debts
 i.  Unpaid disputed dues:
 Sr.  Name ofthe                         Nature of     Forum      Amount
 No.  Statue                             Dues          where      ''(In
                                                       dispute     Lacs)
 1   Maharashtra Sales Tax
     (2002-03, 2003-04, 2004-05,         Sales Tax    Appeal     153.86
 2   Maharashtra Sales Tax (2006-07)     Sales Tax    Appeal     460.50
 3   Maharashtra Sales Tax (2006-07)     Sales Tax    Appeal     170.91
 4   Maharashtra Sales Tax (2009-10)     Sales Tax    Appeal     118.78
 5   Maharashtra Sales Tax (2009-10)     Sales Tax    Appeal      40.05
 6   Maharashtra Sales Tax (2011-12)        CST       Appeal      33.26
 7   Maharashtra Sales Tax (2011-12)     Sales Tax    Appeal       3.15
 8   Maharashtra Sales Tax (2007-08)         CST      Appeal      48.99
 9   Maharashtra Sales Tax               Sales Tax    Appeal     152.48
 10  Bank Guarantee for Release          Central         -         5.85
     of Goods                            Excise
 11  Bank Guarantee for Release          Central         -        12.34
     of Goods                            Excise
 4.  Performance guarantees issued
 Bank guarantees given by the Company for performance are Rs. 18.19 lacs
 (previous year: Rs. Nil)
 5. Bills discounted
 Bills supported by letters of credit accepted by customers and
 discounted with banks are Rs. Nil (previous year: Rs. Nil).
 6.  Capital commitments:
 Estimated amount of contracts remaining to be executed on capital
 account not provided for are Rs. Nil (previous year: Rs Nil).
 7.  Employee benefits Defined contribution plan
 The Company Total contributed Rs. 7,96,950/-to the provident fund plan
 during the year ended March 31,2015 (previous year: Rs. 75,078/).
 8.  Segment Reporting
 Geographical Segment
 In accordance with AS 17 the company has identified the reportable
 segments as on 31 -03-2015 and others taking into account the nature of
 different Risks and returns and the internal reporting systems. The
 company operates into Eleventh geographical segments, namely, Mumbai,
 Silvassa, Delhi & Eight others Segments (Branches). The segment
 revenue, segment results, total carrying amount of segment assets and
 liabilities, total costs incurred to acquire segment assets, total
 amount of charge of depreciation during the year is as reflected in the
 financial statements for the year ended March 31,2015.the accounting
 policies for segment reporting are in line with the accounting policies
 followed by the company.
 9.  Related party disclosures
 As required under Accounting Standard 18 - Related Parties, details and
 disclosures of transactions with the related parties as defined in the
 Accounting Standard are given below:
 Category I: Key management personnel
 Category II: Associate concerns controlled by the directors.
 10. Previous year figures
 Previous year figures have been re-grouped/re-casted wherever
 considered necessary to make them comparable with those of the current
 year.  Signatures to schedules 1 to 11
Source : Dion Global Solutions Limited
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