| 1. CONTINGENT LIABILITIES AND CAPITAL CONTRACTS
The company as on date have not provided for any contingent liability
(Previous Year NIL) and there are no unexecuted capital contracts which
are outstanding or remaining to be performed.
2. IMPAIRMENT OF ASSETS
As required by accounting standard 28 issued by the Institute of
Chartered Accountants of India, provision for impairment loss of Assets
is not required to be made as the estimated realizable value of such
assets will be more or equal to the carrying amount of the respective
assets as stated in the Balance Sheet.
3. BUSINESS SEGMENT
The Company is engaged primarily in one segment, accordingly there are
no separate reportable segment as per the accounting standard 17
(Segmental Reporting) issued by Institute of Chartered Accountants of
India.
4. RELATED PARTY DISCLOSURES
The Company had no transactions with the related parties during the
year under review other than temporary current account transactions.
5. PERSONNEL
During the year under review, no employee was in receipt of
remuneration in excess of limits laid down under the companies act
other than below:-
There are no employees employed throughout the financial year were in
receipt of remuneration which in aggregate was more that Rs.6000000/-
per annum Rs.500000/- per month.
6. RECEIVABLES AND PAYABLES
The receivables and payables as stated in Current Assets, Loans and
Advances and Current Liabilities and in the opinion of the management
have a value and realization equal to the amount at which they are
stated in the Balance Sheet and provision for all known liabilities if
any has been made by the company.
7. DUESTOSME'S
Management has determined that there were no balances outstanding as at
the beginning of the year and no transactions entered with micro, small
and medium enterprises as defined under Micro, Small and Medium
Enterprises Development Act, 2006, during the current year, based on
the information available with the company as at March 31,2015.
8. Cash and cash equivalents (for purposes of Cash flow statement)
Cash comprises cash on hand and demand deposits with banks. Cash
equivalents are short-term balances, (with original maturity of three
months or less from the date of acquisition), highly liquid investments
that are readily convertible into known amounts of cash and which are
subject to insignificant risk of changes in value.
9. Cash flow statement
Cash flows are reported using the indirect method, whereby profit /
(loss) before extraordinary items and tax is adjusted for the effects
of transactions of non-cash nature and any deferrals or accruals of
past or future cash receipts or payments. The cash flows from
operating, investing and financing activities of the Company are
segregated based on the available information.
10. GENERAL
i. The figures for the previous year have been regrouped /
reclassified / rearranged where ever necessary with the conformity with
the current year figures forfacilitating proper comparisons.
ii. The company has followed prudential norms, except otherwise stated,
prescribed by Reserve Bank of India for Non-Banking Finance
Companies-financial statements.
iii. The figures have been rounded off to the nearest rupee.
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