| 2.17 SEGMENT INFORMATION (AS-17)
i. The Company's business segments are identified around products in
which company deals.
ii. The accounting policies used in the preparation of the financial
statements of the Company are also applied for segment reporting.
iii. Segment revenues, expenses, assets and liabilities are those,
which are directly attributable to the segment or allocated on an
appropriate basis. Corporate and other revenues, expenses, assets and
liabilities to the extent not allocable to segments are disclosed in
the reconciliation of reportable segments with the financial
statements.
2. Related Party Disclosures:
Related party disclosures, as required by AS - 18, "Related Party
Disclosures" are given below:
A. Director
Anitha Mahesh - Director
Bhagyashree Chordia - Director
Mukesh Puranmal - Director
Pankaj Bethala - Director
B. Relationship
i. related Parties with common control exists
Name of the Companies where the directors can exercise the control
a. Time Plus Securities & Services Ltd.
b. Magnum Trust Ltd.
c. Exel Capital Services Ltd.
ii. Key Managerial Personnel
Mrs. Anitha Mahesh - Managing Director
iii. Transactions with related parties
During the year under consideration no transactions with related party
were entered into.
3. contingent Liabilities & Provisions:
In View of the management there are no contingent liabilities and
commitments against the Company.
4. deferred tax:
During the year there are no transactions leading to timing differences
resulting to deferred tax liability. Following the concept of Prudence
Company has not recognized any deferred tax assets.
5. In the opinion of the management, current assets, loans and
advances and other receivables have realizable value of at least the
amounts at which they are stated in the accounts.
6. The Company has not received the required information from
suppliers regarding their status under the Micro, Small and Medium
Enterprises Development Act, 2006. Hence disclosures, if any, relating
to amounts unpaid as at the year end together with interest
paid/payable as required under the said Act have not been made.
7. Previous year's figures have been grouped/regrouped,
arranged/rearranged wherever necessary to make them comparable.
8. Terms/Rights attached to Equity Shares:-
(i) The Company has only one class of Equity shares having par value of
Rs. 10/- per share.
(ii) Each holder of Equity share is entitled to one vote per share.
(iii) In the event of Liquidation of the Company , the holders of
Equity shares will be entitled to receive the realised value of the
assets of the Company, remaining after payment of all prefrential
dues(if any) .The distribution will be in proportion to the number of
equity shares held by the shareholders.
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