| AA: Deferred Tax Asset :
On the consideration of prudence and in the absence of virtual
certainty of sufficient future taxable income, the deferred tax asset
has not been recognised.
AB: Related Party Disclosures:
I) Key managerial personnel: 1. Kailash Biyani - Promoter (upto March
12, 2014)
II) Relatives of KMP: 1. Kishor Mohatta
AD: During the year, pursuant to the notification of Schedule II to the
Companies Act, 2013 with effect from April 1, 2014, the Company revised
the estimated useful life of some of its assets to align the useful
life with those specified in Schedule II. Further, assets individually
costing Rs. 5,000/- or less that were depreciated fully in the year of
purchase are now depreciated based on the useful life considered by the
Company for the respective category of assets. The details of
previously applied rates / useful life are as follows:
Pursuant to the transition provisions prescribed in Schedule II to the
Companies Act, 2013, the Company has fully depreciated the carrying
value of assets (determined after considering the change in useful life
of assets), net of residual value, where the remaining useful life of
the asset was determined to be nil as on April 1, 2014, and has
adjusted an amount of Rs. 8.38 mn against the opening Surplus balance
in the Statement of Profit and Loss under Reserves and Surplus.
The depreciation expense in the Statement of Profit and Loss for the
year is lower by Rs. 4.34 mn consequent to the change in the useful
life of the assets.
AC. Lease:
The Company has significant operating leases for office premises and go
downs. These lease arrangements range for a period between 11 months to
60 months with cancellable clause of 2-3 months.
The aggregate lease rentals payable are charged as Rent in Note V
aggregating Rs. 2.10 mn (Previous Year Rs 2.54 mn).
AD. Dues to Micro, Small and Medium Enterprises as per MSMED Act,
2006.
The Company, has during the period, not received any intimation from
any of its suppliers regarding their status under the said Act. Based
on the above facts, management has decided that none of them are
registered under the Said act and hence disclosures, if any, relating
to amounts unpaid as at the year end along with interest paid/payable
have not been given.
AE. Dues to Micro, Small and Medium Enterprises as per MSMED Act, 2006.
Trade Receivable include 177.07 mn that are outstanding for a period of
more than one year. The company is actively pursuing for the
reconciliation and recovery of these debts and based on its
relationships with these parties expects to recover the outstanding
amounts. Accordingly, no provision is considered at this stage.
AF. On 12 March 2105, the Board has approved the sub division of equity
shares from Rs 100/- each to Rs 1/- each. The Shareholders have
approved the same, through postal ballot on 24 April 2015. The Company
is in process of completing the formalities related to BSE.
AG. The preference shares are redeemable after end of 3 years and
before the end of 10 years from the date of issue. The management is of
the view that these preference shares will be redeemed from fresh issue
of capital and accordingly the reserve has not been created.
AH. Previous years figures have been regrouped/reclassified wherever
necessary to conform current years classification.
| 