NOTICE

Notice is hereby given that the next Annual general Meeting of the member of M/S Micro
Devices Pvt Ltd. Will be held on 28.09.2016 at 11.00 am at the registered office of the
Company to transact the following business;
ORDINARY BUSINESS
1. To receive, consider and adopt the audited Balance Sheet as at 31st March, 2016
and profit and loss account for the account for the year ended on that date together
with reports of directors and auditors thereon.
2. To ratify the appointment Auditors and fix their remuneration
To consider and if thought fit to pass with or without modification
the following resolution as an ordinary resolution:
RESOLVED THAT pursuant to provisions of Section 139 and other applicable
provisions, if any, of the Companies Act, 2013 and rules made there under that
consent of Company be and is hereby accorded for appointment of Statutory
Auditors of the Company as under:
M/s Malhotra Rajiv & Co., Chartered Accountants (Firm Registration No. 024854N)
be and hereby re-appointed as Statutory Auditors of the Company to hold office from
the conclusion this Annual General Meeting till the conclusion of next Annual General
Meeting of the Company to be held on 2020, subject to ratification by the members
at every annual general meeting of the company at such remuneration as may be
agreed upon between the Board of Directors and Statutory Auditors, in addition to
the reimbursement of all out of pocket expenses incurred in relation with the audit of
accounts of the Company.
BY ORDER OF THE BOARD

PLACE: CHANDIGARH
DATE 31.08.2016

(DIRECTOR)

DIRECTORS REPORTS

The Members,
M/S Micro Devices Pvt. Ltd.

Your Directors have pleasure in presenting the next Annual Report along with the
audited accounts of the company for the period ended on 31st March, 2016.
Sr. FINANCIAL RESULT
1.
2.

Sales & Other income

Profit before depreciation and tax

3.
4.
5.
6.

Depreciation
Profit before tax
Provision for tax
Provision for Deferred Income tax

7.

Profit after Tax

Year Ended
31.03.2016
Rs.)

Year Ended
(In. 31.03.2015 (In Rs.)

40,941,002.70

40,187,524.35

31,812,304.40
376,414.00
31,435,890.40
9,963,730.00

32,593,952.1
8
815,659.11
31,778,293.07
8,123,975.00

21,472,160.40

23,654,318.07

OPERATIONS
The Company has reported total income of 40,941,002.70 for the current year as
compared to 40,187,524.35 in the previous year. The Net Profit for the year under
review amounted to 21,472,160.40 in the current year as compared to
23,654,318.07 in the previous year
SUBSIDIARY COMPANY
As on March 31, 2016, the Company does not have any subsidiary
DIVIDEND
No Dividend was declared for the current financial year due to conservation of profits.
AUDITORS
M/s Malhotra Rajiv & Co., Chartered Accountants, was appointed as statutory auditors
for a period Five years in the Annual General Meeting held on 28/09/2015. Their
continuance of appointment and payment of remuneration are to be confirmed and
approved in the ensuing Annual General meeting. The Company has received a certificate

from the above auditors to the effect that if they are reappointed, it would be in
accordance with the provisions of section 141 of the Companies Act,2013.

STATUTORY AUDITOR & AUDIT REPORT

There are no qualifications or observations or remarks made by the Auditors in their
Report.
TRANSFER TO RESERVES
The Company has not transferred any amount to reserves.
FIXED DEPOSITS
The company has not invited/accepted any deposits from the public during the year ended
31 March, 2016. There were no claimed or unpaid deposits as on 31 March, 2016.
CORPORATE SOCIAL RESPONSIBILITY
The Company is not required to constitute a Corporate Social Responsibility Committee
as it does not fall within purview of Section 135(1) of the Companies Act, 2013 and
hence it is not required to formulate policy on corporate social responsibility.
EMPLOYEES PARTICULARS
None of the employees of the company have received remuneration in excess of the
limits as stated in rule 5(2) of the Companies (Appointment & Remuneration of
Managerial Personnel) Rules 2014.
RELATED PARTY TRANSACTIONS
Transactions with related parties in the ordinary course of the Company business are
detail as per Note 16 to the financial statements. However none of these fall under the
purview of the provisions of section 188 of the Companies Act, 2013.
NUMBER OF MEETINGS OF THE BOARD
The notice of Board meeting is given well in advance to all the Directors. Usually
meetings of the Board held in Chandigarh. The board met Six times in financial year

2015-16 viz., on 1 April 2015, 11 May 2015, 31 Aug 2015, 25 Sep 2015, 22 Dec 2015 &
18 Mar 2016.

DIRECTORS RESPONSIBILITY STATEMENT

Pursuant to the requirements under section 134(5) of the Companies Act
2013, the board of directors of the company hereby state and confirm that;
1. In the preparation of the Annual Accounts, the applicable accounting standards

have been followed along with proper explanation relating to material departures
except AS 15 regarding provision of gratuity.
2. The directors have selected accounting policies and applied them consistently and
made judgments and estimates that are reasonable and prudent so as give a true
and fair view of the state affairs of the company at the end of the financial year
and of the profit or loss of the company for the year under review.
3. The directors have taken proper & sufficient care for the maintenance of
adequate accounting records in accordance with the provisions of the companies
Act, 2013 for safeguarding the assets of the company and for preventing and
detecting fraud and other irregularities;
4. The Directors had prepared the accounts for the financial year ended March 31,
2016 on a going Concern basis.
5. The directors, in the case of a listed company, had laid down internal financial
controls to be followed by the company and that such internal financial controls
are adequate and were operating effectively Not applicable to Private Limited
Company.
Internal financial control means the policies and procedures adopted by
the Company for ensuring the orderly and efficient conduct of its business
including adherence to Companys policies, the safeguarding of its assets, the
prevention and detection of frauds and errors, the accuracy and completeness of
the accounting records and the timely preparation of reliable financial
information.
6. The directors had devised proper systems to ensure compliance with the
provisions of all applicable laws and such systems were adequate and operating
effectively.
DECLARATION BY INDEPENDENT DIRECTORS
The Company was not required to appoint Independent Directors under Section
149(4) and Rule 4 of the Companies (Appointment and Qualification of
Directors) Rules, 2014 hence no declaration has been obtained.

COMPANYS
POLICY
ON
DIRECTORS
APPOINTMENT
AND
REMUNERATION
INCLUDING
CRITERIA
FOR
DETERMINING
QUALIFICATIONS, POSITIVE ATTRIBUTES, INDEPENDENCE OF A
DIRECTOR AND OTHER MATTERS PROVIDED UNDER SUB-SECTION ( 3)
OF SECTION 178
The Company, being a Private Limited Company was not required to constitute a
Nomination and Remuneration Committee under Section 178(1) of the
Companies Act, 2013 and Rule 6 of the Companies (Meetings of Board and its
Powers) Rules, 2014 and Stakeholders Relationship Committee under Section
178(5) of the Companies Act, 2013.
PARTICULARS OF LOANS, GUARANTEES OR INVESTMENTS UNDER
SECTION 186
During the year under review, the Company has not advanced any loans/ given
guarantees/ made investments.
EXTRACT OF THE ANNUAL RETURN IN FORM MGT-9:
Pursuant to section 92(3) of the Companies Act, 2013 and Rule 12(1) of the Companies
(Management and Administration) Rules, 2014 ( As Per Annexure A)
RISK MANAGEMENT
Given the asset base and the portfolio of investments made by the Company, the Board is
of the opinion that there are no major risks affecting the existence of the Company.
SIGNIFICANT & MATERIAL ORDER PASSED BY THE REGULATORS
There are no significant or material orders passed by the Regulators or Courts or tribunals
impacting the going concern status & the Companys operations in future.
OBSERVATION OF AUDITORS
The auditors observations in their report and relative notes on the accounts are self
explanatory
SECTION 134(3)(m) OF THE COMPANIES ACT, 2013
The information required under section 134(3) (m) of the companies Act, 2013 read with
Rule 8(3) of the Companies (Accounts) Rules, 2014 are as follows;-:a)
Conservation of Energy
:
N.A.
b)
Technology absorption
:
N.A.
c)
Foreign Exchange Earnings
:
NIL
ACKNOWLEDGEMENT

The directors acknowledge your continued support and commitment toward the
organization. They are also grateful to customers for their continued support conoperation and patronage.
Yours directors also wish to place on record their appreciation of the valuable
contribution and the spirit of the dedication shown by the employees of the companies.
FOR AND ON BEHALF OF THE BOARD
Place: Chandigarh
Date: 31.08.2016
Managing Director

MALHOTRA RAJIV & CO.

CHARTERED ACCOUNTANTS
CHD. Office : # 761, IInd Floor,
Sector 22-A, Chandigarh- 160022
Phone : 0172-2720611
AUDITORS REPORT
To the members of M/S Micro Devices Pvt. Limited
We have audited the attached balance sheet of M/S Micro Devices Pvt. Limited. as at 31
March 2016, the profit and loss account for the year ended on that date annexed thereto.
Management's Responsibility for the Financial Statements
The Company's Board of Directors is responsible for the matters in section 134(5) of the
Companies Act, 2013 ("the Act") with respect to the preparation of these financial
statements that give a true and fair view of the financial position, financial performance
and cash flows of the Company in accordance with the accounting principles generally
accepted in India, including the Accounting Standards specified under Section 133 of the
Act, read with Rule 7 of the Companies (Accounts) Rules, 2014. This responsibility also
includes the maintenance of adequate accounting records in accordance with the
provision of the Act for safeguarding of the assets of the Company and for preventing
and detecting the frauds and other irregularities; selection and application of appropriate
accounting policies; making judgments and estimates that are reasonable and prudent;
and design, implementation and maintenance of internal financial control, that were
operating effectively for ensuring the accuracy and completeness of the accounting
records, relevant to the preparation and presentation of the financial statements that give
a true and fair view and are free from material misstatement, whether due to fraud or
error.
Auditor's Responsibility
Our responsibility is to express an opinion on these financial statements based on our
audit. We have taken into account the provisions of the Act, the accounting and auditing
standards and matters which are required to be included in the audit report under the
provisions of the Act and the Rules made hereunder.
We conducted our .audit in accordance with' the Standards on Auditing specified
under section 143(10) of the Act. Those Standards require that we comply with ethical
requirements and plan and perform the audit to obtain reasonable assurance about
whether the financial statements are free from material misstatement.
An audit involves performing procedures to obtain audit evidence about the
amounts and disclosures in the financial statements. The procedures selected depend
on the auditor's judgment, including the assessment of the risks of material
misstatement of the financial statements, whether due to fraud or error. In making those
risk assessments, the auditor considers internal financial control relevant to the
Company's preparation of the financial statements that give true and fair view in order to
design audit procedures that are appropriate in the circumstances but An audit also
includes evaluating the appropriateness of accounting policies used and the
reasonableness of the accounting estimates made by Company's Directors, as well as
evaluating the overall presentation of the financial statements.

MALHOTRA RAJIV & CO.

CHARTERED ACCOUNTANTS
CHD. Office : # 761, IInd Floor,
Sector 22-A, Chandigarh- 160022
Phone : 0172-2720611
Opinion
In our opinion and to the best of our information and according to the explanations given
to us, the aforesaid financial statements, give the information required by the Act in the
manner so required and give a true and fair view in conformity with the accounting
principles generally accepted in India;
a)

in the case of the Balance Sheet, of the state of affairs of the Company as at
March 31, 2016;

b)

in the case of the Statement of Profit and Loss, of the profit for the year ended on
that date; and

c)

in the case of the Cash Flow Statement, of the cash flows for the year ended on
that date.
Report on other Legal and Regulatory Requirements
1. As required by the Companies (Auditor's Report) Order, 2016 ("the Order")
issued by the Central Government of India in terms of Sub-section (11) of Section
143 of the Companies Act, 2013 we give in the Annexure a statement on the
matters specified in paragraph 3 and 4 of the Order.
2. As required by section 143(3) of the Act, we report that:
a) We have sought and obtained all the information and explanations which to the
best of our knowledge and belief were necessary for the purposes of our audit.
b) In our opinion proper books of account as required by law have been kept by the
Company so far as appears from our examination of those books.
c) The Balance Sheet, the Statement of Profit and Loss, and Cash Flow Statement
dealt with by this Report are in agreement with the books of account.
d) In our opinion, the aforesaid financial statements comply with the Accounting
Standards specified under Section "133 of the Act, read with Rule 7 of the
Companies (Accounts) Rules, 2014.
e) On the basis of written representations received from the directors as on March
31, 2016, taken on record by the Board of Directors, none of the directors is
disqualified as on March 31, 2016 from being appointed as a director in terms of
Section 164(2) of the Act.

MALHOTRA RAJIV & CO.

CHARTERED ACCOUNTANTS
CHD. Office : # 761, IInd Floor,
Sector 22-A, Chandigarh- 160022
Phone : 0172-2720611

f) with respect to the adequacy of the internal financial controls over financial
reporting of the Company and the operating effectiveness of such controls, refer to
our separate report in Annexure B
g) With respect to the other matters to be included in the Auditors Report in
accordance with Rule 11 of the Companies (Audit and Auditors) Rules, 2014, in our
opinion and to the best of our information and according to the explanations given
to us:
(i)

The Company does not have any pending litigations which would impact
its financial position.

(ii)

The Company did not have any long-term contracts including derivative
contracts for which there were any material foreseeable losses.

(iii)

There were no amounts which were required to be transferred to the

Investor Education and Protection Fund by the Company.

DATE : 31.08.2016
PLACE : CHANDIGARH

FOR MALHOTRA RAJIV & CO.

CHARTERED ACCOUNTANTS

RAJIV MALHOTRA
(PARTNER/FCA)
MEMBERSHIP NO. 088263
FIRM NO. 024854N

MALHOTRA RAJIV & CO.

CHARTERED ACCOUNTANTS
CHD. Office : # 761, IInd Floor,
Sector 22-A, Chandigarh- 160022
Phone : 0172-2720611

ANNEXURE ATO THE AUDITORS REPORT

To the members of M/S Micro Devices Pvt. Limited. on the accounts for the year ended
31 March 2016 referred to in our report of even date.
1. a) The Company has maintained proper records showing full particulars including
quantitative details and situation of fixed assets;
b) A significant portion of the fixed assets have been physically verified by the
management. The discrepancies noticed on such verification, which were not
material, have been properly dealt with in the books of account.
c)

According to the information & explanations given to us and on the basis of our
examination of the records of the company, the title deeds of immovable
properties are held in the name of the company.

2. a) The management has conducted the physical verification of inventory at

reasonable intervals.
b) The discrepancies noticed on physical verification of the inventory as
compared to books records which has been properly dealt with in the books of
account were not material.
3. The Company has not granted any loans, secured or unsecured to companies,
firms, Limited Liability partnerships or other parties covered in the Register
maintained under section 189 of the Act.
4. In our Opinion and according to the information and explanation given to us, the
Company has complied with the provision of Section 185 and 186 of the
companies Act, 2013 with respect to the loans and investments made.
5. The Company has not accepted any deposits from the public and hence the
directives issued by the Reserve Bank of India and the provisions of Sections 73
to 76 or any other relevant provisions of the Act and the Companies (Acceptance
of Deposit) Rules, 2015 with regard to the deposits accepted from the public are
not applicable.
6. As informed to us, the Central Government has not prescribed the maintenance
of cost records under section 148(1) of the act for any of the products
manufactured by the company;
7. a) The company is regular in depositing with appropriate authorities undisputed
statutory dues including provident fund, employees state insurance , Income
Tax, Sale Tax, and other material statutory dues applicable to it .

b)

According to the information and explanations given to us, no undisputed

amounts payable in respect of Provident fund, Employees state insurance,
income tax, Wealth tax, Service tax and other statutory dues were in arrears, as
at 31 March 2016 for a period of more than six months for the date they became
payable;

8. In our opinion and according to the information and explanations given to us, the
company has not been availing any loans from any financial institution or bank;
9. According to information and explanations given to us, during the year company
has not raised money by public issues/ follow-on offer (including debt
instruments) and term loans.
10. According to information and explanations given to us, no material fraud on or by
the company by its officer/employees has been noticed or reported during the
course of our audit.
11. According to information and explanations given to us managerial remuneration
has been paid / provided in accordance with the requisite approvals mandated by
the provisions of section 197 read with schedule V to the Companies Act.
12. In our opinion, the company is not a chit fund or a nidhi/ mutual benefit fund/
society. Therefore, the provisions of clause 4 (xii) of the Order are not applicable
to the Company.
13. According to information and explanations given to us and based on our
examination of the records of the Company, all transactions with the related
parties are in compliance with Section 188 and 177 of Companies Act, 2013
where applicable and details of such transactions have been disclosed in the
Financial Statements etc. as required by the accounting standards and
Companies Act, 2013.
14. According to information and explanations given to us and based on our
examination of the records of the Company , the company has not made any
preferential allotment / private placement of shares or fully or partly convertible
debentures during the year under review.
15. According to information and explanations given to us, the company has not
entered into any non-cash transactions with directors or persons connected with
him.
16. The Company is not required to be registered under sec 45-IA of the Reserve
Bank of India Act 1934.

DATE:31.08.2016
PLACE: CHANDIGARGH

FOR MALHOTRA RAJIV & CO.

CHARTERED ACCOUNTANTS

RAJIV MALHOTRA
(PARTNER/ FCA)

MEMBERSHIP NO. 088263

FIRM NO. 024854N

ANNEXURE B TO THE AUDITORS REPORT

Report on Internal Financial Controls Over Financial Reporting
Report on the Internal Financial Controls under Clause (i) of Sub-section 3
of Section 143 of the Companies Act, 2013 (the Act)
We have audited the internal financial controls over financial reporting of Name (the
Company) as of March 31, 2016 in conjunction with our audit of the financial
statements of the Company for the year ended on that date.
Managements Responsibility for Internal Financial Controls
The Companys management is responsible for establishing and maintaining internal
financial controls based on the internal control over financial reporting criteria
established by the Company considering the essential components of internal control
stated in the Guidance Note on Audit of Internal Financial Controls Over Financial
Reporting issued by the Institute of Chartered Accountants of India. These
responsibilities include the design, implementation and maintenance of adequate
internal financial controls that were operating effectively for ensuring the orderly and
efficient conduct of its business, including adherence to companys policies, the
safeguarding of its assets, the prevention and detection of frauds and errors, the
accuracy and completeness of the accounting records, and the timely preparation of
reliable financial information, as required under the Companies Act, 2013.
Auditors Responsibility
Our responsibility is to express an opinion on the Company's internal financial controls
over financial reporting based on our audit. We conducted our audit in accordance with
the Guidance Note on Audit of Internal Financial Controls Over Financial Reporting (the
Guidance Note) and the Standards on Auditing, issued by ICAI and deemed to be
prescribed under section 143(10) of the Companies Act, 2013, to the extent applicable to
an audit of internal financial controls, both applicable to an audit of Internal Financial
Controls and, both issued by the Institute of Chartered Accountants of India. Those
Standards and the Guidance Note require that we comply with ethical requirements and
plan and perform the audit to obtain reasonable assurance about whether adequate
internal financial controls over financial reporting was established and maintained and if
such controls operated effectively in all material respects.
Our audit involves performing procedures to obtain audit evidence about the adequacy
of the internal financial controls system over financial reporting and their operating
effectiveness. Our audit of internal financial controls over financial reporting included
obtaining an understanding of internal financial controls over financial reporting,
assessing the risk that a material weakness exists, and testing and evaluating the design
and operating effectiveness of internal control based on the assessed risk. The
procedures selected depend on the auditors judgment, including the assessment of the
risks of material misstatement of the financial statements, whether due to fraud or error.
We believe that the audit evidence we have obtained is sufficient and appropriate to
provide a basis for our audit opinion on the Companys internal financial controls system
over financial reporting.

Meaning of Internal Financial Controls Over Financial Reporting

A company's internal financial control over financial reporting is a process designed to
provide reasonable assurance regarding the reliability of financial reporting and the
preparation of financial statements for external purposes in accordance with generally
accepted accounting principles. A company's internal financial control over financial
reporting includes those policies and procedures that
1. pertain to the maintenance of records that, in reasonable detail, accurately and
fairly reflect the transactions and dispositions of the assets of the company;
2. provide reasonable assurance that transactions are recorded as necessary to
permit preparation of financial statements in accordance with generally accepted
accounting principles, and that receipts and expenditures of the company are being
made only in accordance with authorizations of management and directors of the
company; and
3. provide reasonable assurance regarding prevention or timely detection of
unauthorized acquisition, use, or disposition of the company's assets that could
have a material effect on the financial statements.
Inherent Limitations of Internal Financial Controls Over Financial Reporting
Because of the inherent limitations of internal financial controls over financial reporting,
including the possibility of collusion or improper management override of controls,
material misstatements due to error or fraud may occur and not be detected. Also,
projections of any evaluation of the internal financial controls over financial reporting to
future periods are subject to the risk that the internal financial control over financial
reporting may become inadequate because of changes in conditions, or that the degree
of compliance with the policies or procedures may deteriorate.
Opinion
In our opinion, the Company has, in all material respects, an adequate internal financial
controls system over financial reporting and such internal financial controls over financial
reporting were operating effectively as at March 31 2016 , based on the internal control
over financial reporting criteria established by the Company considering the essential
components of internal control stated in the Guidance Note on Audit of Internal Financial
Controls Over Financial Reporting issued by the Institute of Chartered Accountants of
India.
DATE:31.08.2016
PLACE: CHANDIGARGH

FOR MALHOTRA RAJIV & CO.

CHARTERED ACCOUNTANTS

RAJIV MALHOTRA
(PARTNER/ FCA)
MEMBERSHIP NO. 088263
FIRM NO. 024854N

M/S MICRO DEVICES PVT. LIMITED

NOTE :- 1
SIGNIFICANT ACCOUNTING POLICIES AND NOTES TO ACCOUNT
FOR THE YEAR ENDED 31.03.2016

1.

Disclosure of accounting Policy ( AS - 1)

a) The Company has prepared its Books of Accounts on the basis of following Accounting Policies:
Going Concern basis.
Accrual Concept
Consistency
b) Change in Accounting Policies:
There is No Change in the Accounting Policies adopted by the Company.
c)

Basis of accounting and preparation of financial statements

These financial statements are prepared in accordance with Indian Generally Accepted Accounting Principles
(GAAP) under the historical cost convention on the accrual basis except for certain financial instruments which are
measured at fair values. GAAP comprises mandatory accounting standards as prescribed under Section 133 of the
Companies Act, 2013 (Act) read with Rule 7 of the Companies (Accounts) Rules, 2014, the provisions of the Act
(to the extent notified) and guidelines issued by the Securities and Exchange Board of India (SEBI). Accounting
policies have been consistently applied except where a newly issued accounting standard is initially adopted or a
revision to an existing accounting standard requires a change in the accounting policy hitherto in.

2.

Inventories (AS -2 )
a) No Exemption is available to the Company with regards to this Accounting Standard.
b) Basis of Inventory valuation:
Inventories are valued at the lower of cost or the net realizable value after providing for obsolescence and other
losses, where considered necessary.
c) Inclusions in Cost:
Cost includes all charges in bringing the goods to the point of sale, including octroi and other levies, transit
insurance and receiving charges.

3.

Cash and cash equivalents (for purposes of Cash Flow Statement) ( AS -3 )

Cash comprises cash in hand and demand deposits with banks.
3.1 Cash flow statement
Cash flows are reported using the indirect method, whereby profit / (loss) before extraordinary items
and tax is adjusted for the effects of transactions of non-cash nature and any deferrals or accruals of
past or future cash receipts or payments. The cash flows from operating, investing and financing
activities of the Company are segregated based on the available information.

4.

Events Occurring after Balance Sheet Date ( AS- 4):

a) No Exemption is available to the Company with regards to this Accounting Standard.

b) No Contingencies and events occurring after the date of Balance Sheet have been reported during the Audit.

5.

Prior period Items and Changes in Accounting policies( AS- 5):

a) No Exemption is Available to the Company with regards to this Accounting Standard.

b) No Prior Period items affecting the Net profit of the Current Year have been reported during the year.
c) No Changes in the Accounting policies have been noticed during the Year

6.

Depreciation and Amortization (AS -6 )

a) No Exemption is Available to the Company with regards to this Accounting Standard.
b) Depreciation has been applied to all the Fixed Assets held by the Company on 01/04/2015 and acquired by the
company during the Year.
c) Register containing all Particulars of Fixed Assets has been maintained by the Company.
d) Method of Depreciation :
Straight Line Method has been consistently followed by the Company as per schedule VI of Companies
Act, 1956.

7.

Construction Contract (AS -7 )

a) No Exemption is Available to the Company with regards to this Accounting Standard.
b) The Company do not have any activity that relates to Construction Contract, Project management or
Architectural Services.

8.

Revenue recognition (AS -9 )

Sale of goods
Sales are recognized, net of returns and trade discounts, on transfer of significant risks and rewards
of ownership to the buyer, which generally coincides with the delivery of goods to customers.

9.

Tangible fixed assets ( AS -10 )

a) Register containing all Particulars of Fixed Assets has been maintained and updated regularly
by the Company.
b) Fixed assets are carried at cost less accumulated depreciation and impairment losses, if any.
Subsequent expenditure relating to fixed assets is capitalized only if such expenditure results
in an increase in the future benefits from such asset beyond its previously assessed
standard of performance.
c) Inclusions in Cost:
Cost of Fixed Assets includes Purchase Cost net of Trade Discount and all the cost incurred
up to the point of installation of the concerned Fixed Assets.
d) No Self Constructed Assets have been reported during the Year.
e) No assets have been revalued during the Year.

10.

11.
12.

Foreign currency transactions and translations ( AS -11 )

There is no foreign transaction for the company during the year.

Government Grants ( AS -12 )

The Company has not received any Government Grant during the Year under Review.
Accounting for Investments ( AS -13 )

The Company has not invested any funds in Long Term or Short term Investments.

13.

Accounting for Amalgamation ( AS -14 )

The company has not entered into any scheme of Amalgamation.

14.

Employee benefits ( AS -15 )

Employee benefits include medical benefits & staff welfare but does not include provision for Gratuity

15.

Segment Reporting (AS -17 )

Full Exemption is available to the company with regards to this standard as the company falls into category of
Small & Medium Company.

16.

Related Party Transactions (AS -18 )

As per Accounting Standard 18 on related party disclosures issued by The Institute of Chartered Accountants of
India, the disclosure of transactions with the related party as defined in the Accounting Standard are required to be
given
Related Parties and nature of relationship:
Transactions with related parties during the Year

Name of Related
Party
Amritpal Singh
Bhomia
Harmit Kaur
Bhomia

Relation
Director

Nature of
Transaction
Salary

Amount
(Rs.)
1,680,000.00

Director

Salary

1,440,000.00

17.

Accounting for Leases (AS -19 )

a) Partial Exemption is Available to the Company with regards to this Accounting Standard.
b) The company has not entered into any Financial and Operating Lease during the Year under

18.

Earnings per share (AS -20 )

a) Partial Exemption is Available to the Company with regards to this Accounting Standard.
b) Basic Earnings per Share is calculated as follows:
Net Profit Attributable to Equity Share Holders
No. of Equity Share
c) Net Profit Attributable to Equity Share Holders is arrived after deducting Current Tax and
Deferred Tax from the Net Profit available.
d) Diluted Earnings Per Share:
The company do not have any Potential Equity Share i.e.
Debt Instrument
Share warrants
Employee Stock Option Schemes.
Contingently Issuable Share.

19.

Consolidation of Financial Statements ( AS -21)

No Exemption is available to the company with regards to this Accounting Standard but it is Not Applicable to the
Company as the Company is not having any Subsidiary Company, Associate Company and Joint Company

20.

Taxes on income ( AS -22)

No Deferred tax is recognized on timing differences, being the differences between the taxable income and the
accounting income that originated during the previous year and is capable of reversal in one or more subsequent
periods.

21.

Accounting for Investments in Associates in Consolidated Financial Statements ( AS -23)

No Exemption is available to the company with regards to this Accounting Standard but it is not applicable to the
Company as the Company do not have any Subsidiary Company, Associate Company and Join.
22.
Discontinuing Operations (AS -24)
No Exemption is available to the company with regards to this Accounting Standard but it is Not Applicable to
the Company as the Company has not discontinued any of its operations.

23.

Intangible Assets (AS -26)

No Exemption is available to the company with regards to this Accounting Standard but it is Not Applicable to
the Company as the Company is not in Possession of any Intangible Asset.

24.

Financial reporting on Interest in Joint Venture (AS -27)

No Exemption is available to the company with regards to this Accounting Standard but it is Not Applicable to
the Company as the Company do not have interests any Joint Venture.

25.

Impairment of assets (AS -28)

The carrying values of assets / cash generating units at each Balance Sheet date are reviewed for
impairment No indication of impairment exists

26.

Provisions and contingencies ( AS - 29 )

A provision is recognized when the Company has a present obligation as a result of past events and
it is probable that an outflow of resources will be required to settle the obligation in respect of which
a reliable estimate can be made. There is no such contingency during the year

NOTES TO ACCOUNTS

1. The previous years figures have been reworked, regrouped, rearranged and
reclassified wherever necessary. Amounts and others disclosures for the preceding
year included as an integral part of the current year financial statements and are to
be read in relation to the amounts and other disclosures relating to the current year.
2. Debit and credit balances in accounts of debtors, creditors and loans and advances
are subject to their respective confirmation and reconciliation.
3. DIRECTORS REMUNERATION:
The details of the remunerations paid to director are as follows:
Particulars
Managing/Whole time
Directors
i)
Salary,Prequisites &
Allowances
-Amritpal Singh
Bhomia
-Harmit Kaur
Bhomia
Total (Amt. in Rs.)

2015-16

2014-15

1,680,000.00 1,516,669.00
1,440,000.00 1,300,000.00
3,120,000.00 2,816,669.00

4. DISCLOSURE AS REQUIRED BY ACCOUNTING STANDARD (AS) 20

EARNING PER SHARE
Particulars
Profit after tax (in Rs.)
EPS(Rs) (Equity shares of face value of
Rs. 10/- each)

5. PAYMENT TO AUDITOR:
Audit fee

2015-16
21,472,160.40
214.72

2014-15
23,654,318.07
236.54

2015-16
(Amount in Rs.)
15,000.00