| A. Terms / Rights attached to Equity Shares
The Company has only one class of equity shares having a par value of
Rs.10/- per share. Each holder of equity shares is entitled to one vote
per share. The company declares and pays dividends in Indian rupees.
The dividend proposed by the Board of Directors is subject to the
approval of the shareholders in the ensuing annual general meeting.
During the year ended 31st March 2013, no dividend is declared by Board
of Directors. (Previous year - Nil)
b. Shares reserved for issue under options: NIL
c. Aggregate number of bonus shares issued, shares issued for
consideration other than cash and shares brought back during the period
of five years immediately preceding the reporting date: NIL
d. Securities convertible into equity / preference shares issued along
with the earliest date of conversion: NIL
e. Forfeited Shares : NIL
Indian rupee unsecured loan from Directors, Shareholders and their
relatives carries interest @ 9 % p.a.as on the reporting date.
Repayment Schedule of Unsecured Loan is not specified.
NOTE ; 2 ADDITIONAL IMQTFS -- 1. Contingent Liabilities and Capital
Commitments: Rs. NIL (P.Y. NIL)
2. Deferred Tax Liability/Assets are not created in absence of virtual
certainty.
3. No Provision for income tax is considered necessary in view of carry
forward losses and unabsorbed deprecation under the Income Tax Act
1961.
4- RELATED PARTY DISCLOUSRE
(a) List of related parties with whom transactions have taken place
during the year:
Name of related party Relationship
Jayesh K. Patel
Harish K. Bhatt Key Management Personnel
Harshad K. Patel
Asthu H. Patel
Dwijen H. Bhatt
Ratnakalaben H Patel Relatives of key
Management personel
Surbhi ben H Bhatt Harshad K Patel (HUF)
Harish K Bhatt ( HUF)
Dhara Organisers Pvt. Ltd.
H. K. Builders
Concerns in which
Directors are interested
J. K. Patel & Co.
There is no change in the number of equity shares during the period.
5. The company is entitled to setoff of carried forwarded losses and
unabsorbed depreciation against the future taxable income under the
Income-tax Act. However, as a matter of prudence, company is not
recognizing the deffered tax assets as provided by Accounting Standard
22 - accounting for taxes on income.
6. Auditors' Remuneration is made up of:
7. Director's Remuneration:
a. The Company has been advised that the computation of net profits for
the purpose of Directors' remuneration under section 349 of the
Companies Act, 1956 need not be enumerated since no commission has been
paid to the Directors. In view of the inadequate profit, fixed monthly
remuneration has been paid to the Directors as per Schedule-XIII to the
Companies Act, 1956.
b. Directors Remuneration is made up of:
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