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Thakral Services (India)

BSE: 509015|ISIN: INE190F01028|SECTOR: Electric Equipment
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Thakral Services (India) is not listed on NSE
Mar 14
Notes to Accounts Year End : Mar '15
 1. Company Overview:
 
 Thakral Services (India) Limited (''the Company'') was incorporated on
 25th January, 1983 as private limited company with its registered
 office at Bangalore, originally with the name Parvidhgaar Leasing Pvt.
 Ltd. On 18th November, 1985, it was converted in to a Limited Company
 and was renamed as Parvidhgaar Leasing & Finance Limited. To broaden
 the business activities, its name was further changed to Primeast
 Investments Limited on 16th November, 1994. Presently the Company is
 engaged in the business of CCTV Sales and related service activities
 and during the year 2011-12 the company has commenced its business in
 the field of Photo Voltaic Modules.
 
 2.Share Capital
 
 a) Terms/ rights attached to equity shares
 
 The Company has issued the Equity shares of par value of Rs.3/-. Every
 equity share holder shall have voting rights in proportion of his share
 of the paid up equity capital of the Company. In the event of
 liquidation of the Company, the assets of the Company will be first
 distributed to preferential amounts and balance so left will be
 distributed to equity shareholders in proportion to holding of their
 equity shares.
 
 3. Micro, Small and Medium Enterprises Development Act, 2006(MSMED
 Act)
 
 Based on the information available with the company, there are no
 Micro, Small and Medium enterprises, to which the company owes, which
 are outstanding for more than 45 days as at 31st March, 2015.  Further,
 no interest during the year has been paid or payable under the terms of
 the MSMED Act, 2006.
 
 4. Related Party Disclosure a) List of Related Party and Relationship:
 
 
 Related Party                                   Relationship
 
 A.  Enterprises where directors have            Associates
 significant influence:
 
 M/s. Westminster Developments Pvt. Ltd.
 
 M/s. Normandy Developments Pvt. Ltd.
 
 M/s. Minnow Trading Company Pvt. Ltd.
 
 M/s. Glade Trading Company Pvt. Ltd.
 
 M/s. Thakral Computers Pvt. Ltd.
 
 M/s. Thakral one Solutions Pvt. Ltd.
 
 M/s. Future World (India) Pvt. Ltd.
 
 M/s Netizen Properties Pvt. Ltd.
 
 M/s. Future World Retail Pvt. Ltd.,
 
 B.  Key Management Personnel
 
 Mr. R.C. Bhavuk                                 Managing Director
 
 C.  Relative of Key Management Personnel:
 
 Mrs Beena Sharma                                Wife of Mr. R.C. Bhavuk
 
 
 5.  The company had given Stock under Cancellable operating lease. The
 rental income under such operating lease during the year is Rs.90,
 26,977.
 
 6.
 
 a. During the year, the company has not entered into any formal hedging
 policy to hedge its exposure in foreign currency and interest rate (if
 any). Hence, the outstanding derivative instruments as on March 31,
 2015 is NIL (March 31, 2014 - NIL)
 
 7.  Contingent Liabilities
 
 Particulars                                   2014-15          2013-14
 
 1. Corporate guarantee given to related
    party for getting Additional credit     1,00,00,000      1,00,00,000
    facility from their vendor.
 
   Total                                    1,00,00,000      1,00,00,000
 
 
 8.  The Company is engaged in CCTV and Solar Photo voltaic modules
 Sales and related service activities, the turnover from Solar Photo
 Voltaic modes is not meeting the requirement criteria for reporting as
 a separate segment as per the guidelines provided in Accounting
 standard 17- Segment reporting, notified under Section 133 of the
 Companies Act, 2013.  Hence the reporting requirement under AS 17 does
 not arise.
 
 9.  Previous year''s figures are regrouped and rearranged wherever
 necessary for comparison purposes.
 
 
Source : Dion Global Solutions Limited
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