1 CORPORATE INFORMATION
The Company mainly deals in Export of manufactured/blended Tea to the
middle-east countries. Due to Political uncertainty and economic crisis
in those countries, in the recent past, the Company was unable to
procure any business. The Company has been trying to develop business
in other markets.
2 Contingent Liabilities in respect of Income Tax matter under appeal
Rs 1,236,646/- (Previous Year Rs 1,236,646/-)
3 Segment Reporting :
Segment Reporting as defined in Accounting Standard - 17 on 'Segment
Reporting' issued by ICAI is not applicable since the operations of the
company relates to only one segment.
4 Related Party Disclosure :
The management is of the opinion that considering the shareholding and
composition of Board of Directors, the company cannot be considered to
be an associate or to have control over any other enterprise. The
relationship and transactions with Key Management Personnel are
disclosed,
Meeting Attendance Fees aggregating to Rs. 12,000/- to the Directors.
Service Charges Rs. 960,000/- to Sri V N Agarwal.
5 Deferred Tax Assets/Liabilities :
The difference between taxable income and accounting income generally
give rise to deferred tax assets and liabilities, but in view of the
uncertainty and insufficiency of future profits, it has not been
considered prudent by the management to account for such assets and
liabilities.
6 The Company has no amounts due to suppliers under the Micro, Small &
Medium Enterprises as defined under the Micro, Small & Medium
Enterprises Development Act, 2006 (MSMED) as at 31.03.2014. Hence no
additional disclosure have been made. The information regarding Micro,
Small and Medium Enterprises has been determined to the extent such
parties have been identified on the basis of information.
7 Previous years figures have been regrouped and rearranged, wherever
necessary.
|