| 1. a. 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 31 March 2015, the amount of per share dividend
recognised as distribution to equity shareholders is Rs.3.00 (31 March
2014: Rs. 1.80)
In the event of liquidation of the Company, the holders of equity
shares will be entitled to receive remaining assets of the company,
after distribution of all preferential amounts. The distribution will
be in proportion to the number of equity shares held by the
shareholders.
The Company does not have any current income tax liability as per the
normal provisions of the Income tax Act, 1961 and at present is paying
only MAT. In view of the inability to assess future taxable income
under normal provisions, the extent of net deferred tax asset which may
be adjusted in the subsequent years is not ascertainable with virtual
certainty at this stage and accordingly in terms of Accounting Standard
(AS 22) on "Accounting for Taxes on Income" as specified under Section
133 of the Act, read with Rule 7 of the Companies (Accounts) Rules,
2014 and based on general prudence, the Company has not recognised any
Deferred tax Asset while preparing the accounts for the current year.
2. Depreciation for the year is provided as per Schedule II of the
Companies Act, 2013, accordingly Rs. 328,062/- being the remaining
Carrying amount of the assets whose remaining useful life is nil is
recognised in the opening balance of retained earnings.
3. The Management has initiated steps to evaluate the quality of all
its receivables as at the year end and found all of them to be standard
and there are no Non-performing Assets in accordance with the
prudential norms issued by Reserve Bank of India.
4. In the opinion of the Board, the current assets, loans and advances
are expected to realize at least the amount at which they are stated,
if realized in the ordinary course of business and provision for all
known liabilities have been adequately made in the accounts.
5. During the year, there were no transactions with Micro and Small
Enterprises; hence the disclosures as per Micro, Small and Medium
Enterprise Development Act, 2006, are not applicable for the time
being.
6. There are no separate reportable segments as per the Accounting
standard "Segment Reporting "(AS 17).
7. As required by Accounting Standard (AS 28) "Impairment of Assets"
,the Management has carried out the assessment of Impairment of assets
and no Impairment was found.
8. Previous year's figures have been regrouped and reclassified
wherever necessary to make them comparable with current year's figures.
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