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Moneycontrol.com India | Notes to Account > Finance - Leasing & Hire Purchase > Notes to Account from Morgan Ventures - BSE: 526237, NSE: N.A
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Morgan Ventures

BSE: 526237|ISIN: INE902C01015|SECTOR: Finance - Leasing & Hire Purchase
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Morgan Ventures is not listed on NSE
Jun 14
Notes to Accounts Year End : Mar '15
1 OTHER INFORMATION
 
 A.  Figures have been rounded off to the nearest rupee and previous
 year figures have been regrouped/ rearranged wherever necessary.
 
 B CHANGE IN FINANCIAL YEAR
 
 The company was following financial year starting from 1st July to 30lh
 June.
 
 As per Section 2 (41) of Companies Act, 2013 the financial year of a
 Company must end on 31at March of every year. The said section of the
 Companies Act, 2013 further provides that the existing company shall,
 within a period of two years from commencement of this provision, align
 its financial year as per the provisions of Section 2(41) of Companies
 Act, 2013.
 
 In order to comply with above referred provisions of the Companies Act,
 2013 your Company closed its financial year on March 31, 2015 by
 preparing the Financial Statements for a period of 9 months from July
 01, 2014 to March 31, 2015.
 
 C.  Disclosure as per Accounting Standard-17 on Segment Reporting
 
 (i) Segments have been identified in line with the Accounting
 Standard-17 on Segment Reporting.
 
 (ii) Segment Revenue, Results and Capital Employed figures include the
 respective amounts identifiable to each of the segments. Unallowable
 expenditure includes expenses incurred at a corporate level which
 relate to the company as a whole.
 
 D.  Related Parties Disclosures are as under: -
 
 I.  Names of related party and nature of related party relationship
 
 a) Subsidiary: Satlej Real Estate Pvt. Ltd., Sudama Technologies
 Private Limited and Satlej Infotech Private Limited(Subsidiary of
 Satiej Real Estate Pvt. Ltd.)
 
 b) Key Management Personnel & their relatives (also exercising
 significant influence over the Company)
 
 Mrs. Meera Goyal-Acted as Managing Director till 28.07.2014 and
 Director till. 14.08.2014, Spouse of Mr S.C.Goyal
 
 Mr S.C.Goyal - Appointed as Managing Director w.e.f. 29.07.2014, Spouse
 of Mrs. Meera Goyal Enterprise in which the persons referred in (b)
 above along with their relative''s exercises significant influence:
 
 Goyal MG Gases Private Limited, Dhamwari Power Company Private Limited,
 Htbra Power Private Limited, Peacock Chemicals Private Limited, Morgan
 Infrastructures Developers Private Limited and Morgan Signature Towers
 Private Limited.
 
 E.  Contingent Liabilities:
 
 The Company is In litigation relating to termination of Agreement to
 Sell with Golden Dreams Buildcon Private Limited for sale of a plot at
 Aurangabad, part of 5 units of Jhalani Tools India Ltd acquired through
 Court Auction.
 
 Final Arguments have taken place and arbitrator has reserved the award.
 
 The Directors are of the opinion that the Company can protect its
 interest successfully.
 
 F.  (i) Expenditure in Foreign Currency
 
 (ii) Earnings in Foreign Exchange
 
 (iii) CI F Value of Import
 
 G.  Additional information pursuant to the provisions of Companies Act,
 2013 (to the extent applicable):
Source : Dion Global Solutions Limited
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