(b) Liabilities:
Contingent Liabilities represents claims against the company not acknowledged as debts includes,
a) Bank Guarantee issued in HDFC Bank is of Rs.3,16,25,247 and in ICICI Bank is of Rs.1,89,54,727
b) IT Outstanding demand are as follows :
|
Sr. No.
|
Assessment Year
|
Demand Amount
|
Amount Paid
|
Outstanding Amount
|
|
1
|
2012-13
|
14,46,440
|
30,000
|
14,16,440
|
|
2
|
2013-14
|
7,25,200
|
1,45,040
|
5,80,160
|
|
3
|
2014-15
|
71,44,200
|
14,28,840
|
57,15,360
|
|
4
|
2015-16
|
37,51,940
|
7,50,388
|
30,01,552
|
| |
TOTAL
|
1,30,67,780
|
23,54,268
|
1,07,13,512
|
(c) Due to Micro and Small Enterprises:
We have sent letter to our creditors and from some creditors received confirmation of micro and small enterprises status. Company have bifurcated creditors into micro and small enterprises as per data received from creditors.
(d) Payment to Auditors:
Statutory Audit Fees :50,000/- Other capacity : 3,72,500/-
(e) Related Party Disclosures
(1) Related parties & their relationship
i) Subsidiary/Entities significantly influenced by Directors and / or Relative of Directors
• Poonam Furniture
• Paradise Furniture
• Pearl Furniture Pvt. Ltd. (Subsidiary w.e.f. 1st June,2017)
• Parin Motors
• Prince Furniture
• Deven Impex
ii) Key Managerial Personnel
• Umesh D Nandani -Managing Director
• Parin U Nandani -Director
• Deven D Nandani -Director
• Alpa V Jogi - Chief Financial Officer
• Kishor Kikani-Company Secretary
(f) The details of amount payable to Small Scale Industrial undertakings in excess of Rupees one Lacsand outstanding for a period of more than 30 days have been submitted.
(g) The foreign Exchange earning is NIL and out go during the year is $1,06,375 and EURO 3,28,341.41 equivalent to Rs. 7,23,59,496
The previous year's figures have been regrouped / reclassified, wherever necessary to confirm to the current year presentation
|