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Moneycontrol.com India | Notes to Account > Domestic Appliances > Notes to Account from Viaan Industries - BSE: 537524, NSE: N.A
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Viaan Industries

BSE: 537524|ISIN: INE324N01027|SECTOR: Domestic Appliances
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Viaan Industries is not listed on NSE
Mar 16
Notes to Accounts Year End : Mar '18

1. COMPANY INFORMATION

Viaan Industries Limited (The Company) is a Public Limited company domiciled in India and incorporated under the provisions of The Companies Act 1956 (at present Companies Act 2013). The Company is into trading activities of commodities, electronics goods & development of mobile based games application and animated films which are sold in India and abroad during 2017-18. The Company has wholly owned subsidiary Company in Dubai (UAE) which is doing trading activities has earned substantial revenue and profit during 2017-18.

Share Capital

Rights, Preferences and Restrictions Attached to Shares

The Company has only one class of shares referred to as equity shares having a par value of Rs. 1/- per share.

Each holder of equity shares is entitled to one vote per share. The Company declares and pays dividends in Indian Rupees. The Company has not proposed any dividend during the year.

As per the Companies Act, 2013, the holders of equity shares will be entitled to receive remaining assets of the Company, after distribution of all preferential amounts in the event of liquidation of the Company. However no such preferential amounts exist currently. The distribution will be in propotion to the number of equity shares held by shareholders.

During the year the Company has issued 1465500 Equity Shares of Rs.1 each fully at a premium of Rs.28/-each fully paid.

(During the previous year the Company has issued the Bonus Shares in the ratio 2:1 (Two Equity shares of Rs.1 / - each fully paid for every one equity share held) The Company Company has also subdivided its equity of Rs.10/- each into Rs.1 each fully paid shares. All these shares rank paripassu.)

2. NOTES TO ACCOUNTS

2.1 Earnings in Foreign Currency Rs. 1,31,65,228/

2.2 Expenditure in Foreign Currency Rs. 78,14,140/

2.3 Disclosure under the Micro, Small and Medium Enterprises Development Act 2006(MSMED Act) are provided as under for the year to the extent the Company has received intimation from the suppliers regarding the status under the Act.

The Company has not received any intimation from its vendors regarding their status under Micro, Small and Medium Enterprises Development Act, 2006 and hence disclosure, if any, required under the said Act have not been made.

2.4 Earnings Per Share

Calculation of Earning Per Share (EPS) in accordance with the Accounting Standard (AS-20) issued by the ICAI. Basic earnings per share are calculated by dividing the net profit or loss for the period attributable to equity shareholders by the weighted average number of equity shares outstanding during the period.

2.6 In the opinion of the Board and to the best of their knowledge and belief, all current assets, loans and advances have a value, on realization, in the ordinary course of business equal to the amount at which these are stated, all known liabilities are provided for, at their full values unless otherwise stated, and potential liabilities are recognized to the extent they are deemed likely to crystallize.

2.7 There are no contingent liabilities in the company.

2.8 The company has issued 14, 65,500 Fully Convertible Debantures @ Rs.29 / - per debenture. The debentures are to be converted into Equity share after one year from the date of issue of Debentures

2.9 Previous yea/s figure have been regrouped and rearranged to make it comparable with the current year''s figures. Figures in bracket represent the figures pertains to previous year.

Source : Dion Global Solutions Limited
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