(B) NOTES FARMING PART OF THE ACCOUNTS
In the opinion of the Board the current assets loans and advances are approximately of the value state course of the business the provision for all known liabilities is adequate and no in excess of the amount considered reasonably necessary.
Contingent Liabilities not provided for : Liability towards vat for Financial I Year 2010-11 Rs.3,26,479. (Previous Year: NIL)
1, Thereisnoiiabilityinrespectofretirementbenefttsa5or31.03.2016
2, Auditor's Remuneration
3. DEFERRED TAX
]n view of the uncertainty attached with the future profitability of the Company and lack of evidence that sufficient until re taxable income would be available, company has decided not to recognize any Deferred Tax Asset in respect at the timing differences outstanding at the beginning of the year as well as those arisen during the year.
NOTE: Name of related parties and description of relationship:
4. Associates
Aman Shree Trading and Real Estate Private Limited
5. Key Management Personnel
Mr JagdishchandraGadia (Managing Director)
Mr, Deepak Mandowara {Executive Director)
Mr. Arjim Mundra (Independent Director)
Mr. KaushaLAmeta (Independent Director)
Mr. Ravi Gupa (Independent Director)
II. Segment Information
The company has identified three reportable segments viz. trading in cloth, investments and finance. Segments have been identified and reported taking into account nature of products and services , the differing risks and returns and the internal business reporting system. Tine accounting policies adopted for segment reporting are in Line with the accounting policy of the company with following additional policies for segment reporting.
a. Revenue and expenses have been identified to a segment on the basis of relationship to operating activities of the segment, revenue and expenses which relate to enterprise as a whole and are not allocable to a segment on reasonable basis have been disclosed as "unallowable”
b. Segment assets and segment liabilities represent assets and liabilities to respective segments, investments, tax related assets and other assets and liabilities that cannot be allocated to a segment on reasonable basis have been disclosed sun allocable.
c. Other Segment include business segments which are not reportable which consists of sale of other assets
6. Based on the information available with the company, no creditors have been identified
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