Notes
1.1. Rights, preference and restrictions to the Shareholders:-
Equity Shares
All Equity Shareholders are having right to get dividend in proportion to the paid up value of each equity shares as and when declared.
No member shall be entitled to exercise any voting rights either personality or by proxy at any meeting of company in respect of any shares registered in his name on which any calls or other sums presently not payable by him have been paid or in regard to which the company has and has exercised any right of lien.
1.2 DEFERRED TAX LIABILITIES
Considering accounting procedure prescribed by the Accounting Standard 22 “Taxes on Income” the following amounts have been worked out and provided in the books.
1.3 Securities / Guarantees
For Bank Borrowing:
Bank Borrowing from bank is secured by Hypothecation of stock, Consisting of all types of dyes, Chemical & Other Current Assets of Company.
Bank Borrowing from bank is guaranteed by Mr. Rampal Inani and Mr. Dinesh Chandra Inani in their personal capacity.
1.4 Related Party Disclosure
The Company has identified all the related parties as per details given below:
1. Relationship
(a) Key Management Personnel
Sh. Rampal Inani
Sh. Dinesh Chandra Inani
(b) Relatives of Key Management Personnel where transactions have taken place
1. VINOD INANI
2. SUSHEEL INANI
3. DINESH INANI
4. JAGDISH INANI
5. RAHUAL INANI
6. RAMPAL INANI
7. SHANKAR LAL INANI (HUF)
8. CHHAVI INANI
9. GANGA DEVI INANI
10. USHA INANI
11. MAMTA INANI
12. MEENA INANI
13. KIRAN INANI
14. SHEELU INANI
(c) Enterprises where key Management Personnel has control / interest
1. OASIS CAPITAL PVT. LTD
2. CLASSIC PRIME HOME CARE PVT. LTD
1.5 All assets and liabilities are presented as Current or Non-Current as per the cretin set out in the Revised Schedule VI of the Companies Act, 1956. Based on the nature of products and the time between the acquisition of assets for processing and their realization, the Company has ascertained its operating cycle less than 12 months period, accordingly 12 months period has been considered for the purposes of Current/Non Current classification of assets and liabilities.
1.6 The Previous year figures have been regrouped / reclassified wherever it found necessary to correspond with the current year’s classification / disclosure. Accordingly amounts and other disclosures for the preceding year are included as and integral part of the current year’s financial statements and to be read in relation to the amounts and other disclosures relating to current year.
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