1. Hon'ble Calcutta High Court vide order dated 9th December, 2014 had approved the scheme for amalgamation of Mono herbicides Ltd, Gateway Distributor Limited, Unicorn Vyapar Limited, Subhankar Vinimay Limited, Swagatam Tradevin Limited and Lotus Financial Management Private Limited with Monotype India Limited. At the time of Merger, Swagatam Tradevin Limited had Preference Shares of Monotype India Limited in its Stock in Trade and the same was transferred as stock in Trade in books of Monotype India Ltd. In Current Financial Year, Company have corrected treatment of Stock in trade & Preference Share Capital (i.e Eliminating Intercompany holding) in its books and corresponding impact of the same has been given in Amalgamation Adjustment Reserve and subsequently balance of Amalgamation Adjustment Reserve have been transferred to General Reserve.
2. Segment Information
As per the definition of 'Business Segment' and 'Geographical Segment' contained in Accounting Standard 17 “Segment Reporting”, the management is of the opinion that the Company's operation comprise of Trading in Shares and incidental activities thereto, there is neither more than one reportable business segment nor more than one reportable geographical segment, and, therefore, segment information as per Accounting Standard 17 is not required to be disclosed.
3. Related Party Transaction
Disclosure in accordance with Accounting Standard-18 - Related Party transactions during the year
I) Companies/ Firms in which Director, Director's relatives are Directors/Shareholders/Partners Companies
Truce Multitrade Ltd. BT Divine Power & Mining Corporation Ltd.
Elan Capital Advisors Pvt. Ltd. Pranjali Infrastructure Pvt. Ltd.
Cinch Multitrade Pvt. Ltd. Divine Power & Mining Corporation Ltd.
Pranjali Services Pvt. Ltd. 52 Weeks Entertainment Ltd.
Four Lions Films Pvt. Ltd. Pranjali (India) Pvt Ltd.
Venus Intergrated Textile Park Pvt Ltd Adrina Realties Pvt. Ltd LLP
Innocent Investment Consultants LLP Sandeep Ispat Traders LLP
ii) Key management personnel
Naresh Jain (Whole Time Director) Harsh Jain (CFO and Director)
Rohitash Bhomia (Resigned w.e.f 13/08/2016) Pradeep Gupta (Company Secretary)
iii) Relatives of Key management personnel
Karishma Jain (Daughter of Whole Time Director)
4. Contingent Liability to the extended not provided for
Central Excise Liability under dispute Rs, 16,34,3 7/- (P.Y Rs, 16,34,397 /-).
5. Prior Year Comparatives
Previous year's figures have been regrouped, rearranged or recanted wherever necessary to confirm to this year's classification. Figures in brackets pertain to previous year.
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