I. Basis of Preparation :
The financial statements of the Company have been prepared in accordance with Indian Accounting Standards (Ind AS) as prescribed by Ministry of Corporate Affairs under Companies (Indian Accounting Standards) Rules, 2015, provisions of the Companies Act, 2013, to the extent notified and pronouncements of the Institute of Chartered Accountants of India.
Disclosures under Ind AS are made only in respect of material items and in respect of the items that will be useful to the users of financial statements in making economic decisions.
The financial statements for the year ended 31st March 2018 (including comparatives) are duly adopted by the Board on 30th May, 2018 for consideration and approval by shareholders.
Note -
a) Equity Shareholders List holding more than 5% of equity shares along with the number of equity shares held is as given below
b) The Company has only one class of equity share of par value Rs. 10/- Each holder of the equity shares is entitled to one vote per share.
c) During the previous Five years, the company has not issued bonus shares/bought back shares / issued shares for consideration other than cash
Notes :
1. LIC loan against policy is availied against assignment of Key Man Insurance Policies
2. LIC loan against property is secured by exclusive first charge on personal property of directors located at Plot No.1 Survey No. 250B/1A/4, E Ward, Nagala Park, Kolhapur
3. Daimler Finance Vehicle Loan is secured by hypothecation of respective vehicle against which loan is sanctioned.
|