Note 1 : Quantitative details of items traded during the year:
a. Since the Company is in the business of trading of various
products, the provisions regarding licensed and installed capacity, as
well as production & raw - material consumption are not applicable.
b. Details of items traded -
Note 2 : Provisions, Contingent Liabilities & Contingent Assets :
Provisions involving substantial degree of estimation in measurement
are recognized when there is a present obligation as a result of past
event and it is probable that there will be an outflow of resources.
Contingent liabilities are not recognized but are disclosed in the
notes. Contingent Assets are neither recognized nor disclosed in the
financial statements.
Note 3.: The Company has not received any intimation from suppliers
regarding their status under the Micro, Small and Medium Enterprises
Development Act, 2006 and hence disclosures if any, relating to amounts
unpaid as at the yearend together with the interest paid/payable as
required under the said Act have not been given.
Note 4 : Disclosures under accounting standards: i. Segment Reporting
(AS-17):
The Company operates in the business of Trading. It operates only in
Domestic Market, hence there is no business / geographical segments to
be reported as required under Accounting Standard (AS-17) "Segment
Reporting" issued by the Institute of Chartered Accountants of India.
ii. Related Party Disclosure (AS-18):
Related Party Disclosure under AS-18 issued by the Institute of
Chartered Accounts of India. The Management has informed that all the
transactions entered during the previous year with various parties do
not fall within the purview of the Accounting standard 18 "Related
Party Transaction" issued by the Institute of Chartered Accountants of
India. The related parties of the company at March 31, 2015 are as
follows:
i. Promoter Group :
- Embassy Finance & Consultants Pvt Ltd
- Pearl Arcade Trading Pvt Ltd
ii. Directors & Key management personnel :
- Ankit Garodia - Managing Director
- Jugalkishore Pralhadrai Sharma - Director
- Rakesh Kumar Singhoya - Director
- Shriven Kumar - Director
Note 5: The Company had given loans & advances from the surplus fund
left over after using of working capital.
Note 6 : The balances of Current assets, Current liabilities
including Sundry Debtors, Sundry Creditors, Loans & advances, Secured &
Unsecured Loan balances are subject to confirmation, If any Note 26 :
Figures have been rounded off to the nearest rupee. Note 27 :
Comparative Figures:
Previous year's figures have been regrouped and rearranged wherever
necessary to make them Comparable with the figures for the current
year.
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