| 1. Disclosures under Accounting Standards
Related party transactions
Details of related parties:
Description of relationship Names of related parties
Key Management Personnel (KMP) Mr. Pankaj Kumar Agarwal- Managing
Director
Mr. Sandeep Kumar Agarwal- Chief
Financial Officer
Ms. Kanika Agarwal- Company
Secretary
Relatives of KMP -
Company in which KMP / Relatives of KMP can exercise significant
influence
i) Eternity Vanijya Private Limited
ii) Mastak Commodities Private Limited
iii) Sanyukta Dealers Private Limited
Note: Related parties have been identified by the Management.
2. Corporate Overview
Mayukh Dealtrade Ltd., (Formerly Known As Mayukh Commercial Limited)
incorporated on 14th August 1980, having its registered office at 26/1,
Strand Road, 1st Floor, Kolkata- 700001, West Bengal. The Directors of
the company are Mr. Pankaj Kumar Agarwal, Mr. Sandeep Kumar Agarwal,
Mr. Manoj Mahipal and Ms. Pooja Saraogi.
Contingent liabilities & Commitments (to the extent not provided for):
Contingent liabilities.
Claims against the company not acknowledged as debt. : Nil
Guarantees : Nil
Other money for which the company is contingently liable : Nil
Commitments:
Estimated amount of contracts remaining to be executed
on Capital A/c & not Provided for : Nil
Uncalled liability on shares & other investments which are
partly paid : Nil
Other Commitments : Nil
3. Taxes on income
Current tax is the amount of tax payable on the taxable income for the
year as determined in accordance with the provisions of the Income Tax
Act, 1961.
4. Earnings per share
Basic earnings per share is computed by dividing the profit / (loss)
after tax (including the post tax effect of extraordinary items, if
any) by the weighted average number of equity shares outstanding during
the year. Diluted earnings per share is computed by dividing the profit
/ (loss) after tax (including the post tax effect of extraordinary
items, if any) as adjusted for dividend, interest and other charges to
expense or income relating to the dilutive potential equity shares, by
the weighted average number of equity shares considered for deriving
basic earnings per share and the weighted average number of equity
shares which could have been issued on the conversion of all dilutive
potential equity shares. Potential equity shares are deemed to be
dilutive only if their conversion to equity shares would decrease the
net profit per share from continuing ordinary operations.
5. Investment
Unquoted Shares are valued at cost.
6. Cash and Cash equivalents
Cash and Cash equivalents comprise cash and cash on deposit with banks
and corporations. The Company considers all highly liquid investments
with a remaining maturity at the date of purchase of three months or
less and that are readily convertible to known amounts of cash to be
cash equivalents.
7. Cash Flow Statements.
Cash Flow Statement has been prepared in accordance with Accounting
Standard 3 issued by Institute of Chartered Accountants of India.
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