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You can view the entire text of Notes to accounts of the company for the latest year

BSE: 526983ISIN: INE760M01016INDUSTRY: Edible Oils & Solvent Extraction

BSE   ` 10.72   Open: 10.72   Today's Range 10.72
10.72
+0.21 (+ 1.96 %) Prev Close: 10.51 52 Week Range 4.54
10.72
Year End :2015-03 
1. Previous year's figures have been regrouped / reclassified wherever necessary to correspond with the current year's classification / disclosure.

2. There is no claim against the company not acknowledged as debts.

3. Balance shown under the headings sundry creditors for Goods, expenses & others, sundry debtors, other current assets, banks and advances to suppliers are subject to confirmations. Necessary adjustment, if any will be made when the accounts are reconciled and settled.

4. In the opinion of the management there is no such events occurred after the date of Balance sheet that needs discloser in these accounts.

5. In the Opinion of the board of directors, the loans, advances and current assets have a value on realization in the ordinary course of business, at least equal to the amounts of which these are stated and that the provisions for the known liabilities are adequate and not in excess of the amount reasonably necessary.

6. Valuation & consumption of inventories has been taken as valued and certified by the management.

7. There were no employee at any time during the year drawing Rs.500000/- or more per month.

8. SEGMENT REPORTING

(a) Business Segment: - The Company has considered business segment as the primary segment to disclose. The company is engaged in rendering services which is the context of AS-17 issued by the Institute of Chartered Accountant of India, is considered the only business segment..

(b) Geographical Segment: - The Company sells its products within India. The condition prevailing in India being Uniform, no Separate geographical segment disclosure is considered necessary.

9. Related party disclosures under accounting standard 18

i. Other related parties with whom transactions have taken place during the year

Subsidiaries - NIL

ii. Key management personnel Board of Directors

a. Shri Sudhir Dixit

b. Shri Shabir Memon

c. Shri Ravi Kamra

d. Shri Deepak Tyagi

iii. Relative of Key management personnel where transaction have been taken place- NIL

iv. Transaction with related parties referred to above in ordinary course of business.

11. Details of Employee benefits as required by the Accounting Standard 15 "Employee Benefits" are given below:-

10. Defined Contribution Plans:-

During the year the company has not employed more than 10 employees and therefore no Statutory Act Related employee are applicable. However company has not recognized any amount for Defined Contribution in the profit & loss Accounts as the employee's are not permanent.

11. Defined benefit plan:-

No Provision of Gratuity and encashment of leave has been made for the employees up to 31.03.2015.

12. In respect of Micro / Small / Medium Enterprises Development Act, 2006, certain disclosure is required to made relating to Micro / Small / Medium Enterprises. The company could not get relevant information from its supplier about their coverage under the Act since the relevant information is not readily available, no disclosure have been made in the account. Hence disclosure, if any, relating to amounts unpaid as at the year end together with interest paid/ payable as required under the said act have not been made.

13. Significant accounting policies adopted by the Company are disclosed in the statement annexed to these financial statements as Annexure I.