| 1. During the financial year 2014-15, there are not any transactions
with any suppliers /parties who are copied under The Micro Small and
Medium Enterprises Development Act, 2006'.
2. Related Party Disclosures
There were no contracts or arrangements made with related parties
during the year under review.
3. Key Managerial Personnel:
The Key Managerial Personnel are the Whole Time Director, CFO and
Company Secretary cum Compliance Officer, whose names are mentioned in
the Corporate Governance Report.
4. Pursuant to the enactment the Companies Act, 2013 being effective
from 01st April, 2014, the Company has re-assessed the useful lives of
its fixed assets and depreciation has been charged accordingly in
accordance with the provisions of Schedule II of the Act. As a result,
the depreciation charged for the year ended on 31/03/2015 is higher by
Rs. 10.30 lacs. Further, an amount of Rs. 9.98 lacs has been adjusted
against the opening balance of retained earning being the carrying
value of fixed assets whose lives are over as at the said date, in
accordance with the Schedule II of the Companies Act, 2013.
5. There are not any particulars which are required to be furnished
under Schedule III of the Companies Act, 2013.
6. In compliance with the Accounting Standard AS-22 relating to
"Accounting for Taxes on Income" issued by The Institute of Chartered
Accountants of India, the Company had provided for Deferred tax
liability arising out of timing difference. During the year under
report, there has been reversal of the said deferred tax liability to
the extent of Rs.403004/-(P.Y. Rs. 122795/-), on account of difference
between Book and Tax Depreciation. Accordingly, the said item has been
credited to Statement of Profit & Loss of the year under report.
7. The Company has one reportable business segments i.e. Trading in
Agricultural Commodities and its allied products. The Company operates
mainly in Indian market and there are no reportable geographical
segments.
8. Earnings Per Share:
Earnings per share are calculated by dividing the profit attributable
to the equity shareholders by the number of equity shares outstanding
during the year, as under:
9. In the Opinion of the Board, all the current assets, loans and
advances have a value on realization in the ordinary course of business
at least equal to the amount stated in the Balance Sheet and all the
known liabilities have been provided for.
10. Certain Debit and Credit Balances are being subject to
confirmation.
11. The figures appearing in the Financial Statements have been
rounded off to nearest rupee.
12. Previous year's figures have been regrouped/ reclassified wherever
necessary to correspond with the current year's classification
/disclosure.
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