1. EARNINGS PER SHARE:
Basic/Dilluted earnings per share is calculated by dividing the net
profit/loss for the year attributable to equity shareholders (after
deducting attributable taxes) by the weighted average of equity
outstanding as at the end of the year. As there were no shares
considered as Earnings per share as applicable for Basic EPS has been
used computing the dilutive Earning per share.
2. In the opinion, of the Board of Directors and to the best of their
knowledge and belief, the value on realization of Current Assets, Loans
and Advances in the ordinary course of business will not be less than
the amount at which they are stated in the Balance sheet.
3. Confirmation of Balances from certain parties for the amounts due
to them or due from them is yet to be received / reconciled.
4. The timing differences related mainly to depreciation and
unabsorbed losses and the net effect of such differences will result in
deferred tax asset or liability. The company has not earned any taxable
income hence as a measure of prudence net deferred tax asset relating
to the above period has not been recognized in the accounts.
5. Since there is no tax liability, no Provision for Income Tax has
been made in the books of accounts as per the provisions of the Income
Tax Act.
6. MANAGERIAL REMUNERATION
Payment of Managerial Remuneration and other benefits inclusive of
perquisites not made to the Managing Director and Director against
their option.
7. As the criteria for Complying with the Provisions of Corporate
Social Responsibility under the company's act 2013 has not arisen and
also the company has not done any commercial activity during the year,
accrodingly complying with C5R activities does not arise.
8. The Financial Statements of the company have been prepared on a going
concern basis, which contemplates the realization of assets and
discharge of liabilities in the normal course of business for the
foreseeable future. The Fixed Assets of the company have been fully
transfered to the party against their dues. The Company has reported nil
fixed assets and Net Loss of Rs 74.36 lakhs (PY 10.08 lakhs) for the
year ended 31.03.2015.
The management has addressed the criticality of the issue in the
company and has initiated various steps to revive the business
activities through mergers and acquisition, restructuring of activities
along with the present investment of surplus funds into the diversified
projects, etc for which various processes of formalities has already
been commenced.
The management is confident of successfully completing these
initiatives and thereby commences profitable business operations into
the foreseeable future.
9. Figures shown in the accounts have been rounded off to the nearest
rupee.
10. Notes 1 to 15 are annexed to and forming part of the accounts.
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