Knitworth Exports Ltd. के अकाउंट के लिये नोट

Mar 31, 2013

I) Segment Reporting:

A, Business Segments:

Based on the guiding principles given in Accounting Standard 17 on Segment Reporting issued by ICAI, the Company has only one reportable business segment i.e, Finance and Investment Activity Accordingly, the figures appearing in these financial statements relate to the Company''s single business segment,

B. Geographical Segments:

The Company''s activities/operations are confined to India and as such there is only one geographical segment Accordingly, the figures appearing in these financial statements relate to the Company''s single geographical segment

ii) The Company is having Deferred Tax Assets in accordance with AS-22, the same is not provided in accounts as a matter of prudence.

iii) The Company has no related party transactions during the year.

iv) Contingent Liabilities not provided for - NIL

v) Previous year''s figures have been regrouped or rearranged wherever necessary.

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Mar 31, 2012

I) The Fixed Assets of the company have become obsolete and non realisable being scrap. The Management, decided written off the same during the year amounting to Rs 1742749/- as shown it as extra ordinary items in the statement of Profit & Loss.

ii) The Company is having Deferred Tax Assets in accordance with AS-22, the same is not provided in accounts as a matter of prudence.

The company has no related party transaction during the year.

iii) The company has only one segment i.e. Finance and Investment Activity , hence no segment reporting given as required AS-17 issued by ICAI.

iv) Contingent Liabilities not provided for-NIL.

v) Previous year's figures have been regrouped or rearranged wherever necessary.

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Mar 31, 2010

A. The parties to whom Loans or Advances have been given by the company are not repaying principal. Though the management considers such loans or advances amounting to Rs, 1,06,49,722/- as doubtful no provision has been made in the book,

b. The Share Certificate or Confirmations for holding of Shares in respect of investment held by the company are not verified as the same are in possession of erstwhile Director who has resigned from the Board of the Company.

c. As per explanation and informations furnished the company has advanced a sum of Rupees 5O0QO0O/- to Bangur Finance Limited against collateral security of 34G0G Equity Shares of Bank of Rajasthan Ltd. The Bangur Finance Ltd. have defaulted on repayment of principal and interest. The management has sold some of these shares but 10100 eq, shares were lost from the possession of the company and a Suit for loss and issue of duplicate shares were filed in City Civil Court of Calcutta The matter is subjudice,

d. Payment to Auditors of Audit Fee Rs,6618 /- (Prev.year - Rs.S618/-)

e. Directors Remuneration - Rs; NIL (prev.year - Rs, 240O0/-)

f. The company has applied the revised Accounting Standard(AS-l

1)-Employees Benefits notified under the companies (Accounting Standards ) Rules 2006.There is no present obligation of any post employment benefit including payment of gratuity during the year. Therefore no actuarial gains or loss arose at the, end of the year.

g. TAXATION :

a) The company has not provided for current tax, in view of carried forward losses and unabsorbed deprivation. Moreover, the company also does not have a liability for current tax u/s 115 JB of IT, Act' 1961.

b) Deferred tax is recognised, subject to consideration of prudence on timing differences. As there is uncertainty about future taxable income., against which the deferred tax assets can be realised, no provision has been made for Deferred tax Assets as on 31/3/2010

h. Previous year's figures have been regrouped re-arranged wherever considered necessary for comparison.

2. SEGMENT REPORTING : -

The company is not presently doing any business activity. The reporting requirement is not applicable.

3, RELATED PARTY DISCLOSURES :

i) List of Related Party with whom transaction have taken place during the year

a) Key Management Personnel :

1. Md. Shakeel Ahmed

2. Amar Chatterjee

3. Dipak Banerjee

There are no subsidiaries, or parties where control / significant influence exists and no transaction were made except the as stated above.

4. ADDITIONAL INFORMATION PURSUANT TO PROVISIONS OF SCHEDULE - VI OF THE COMPANIES ACT 1956 : **

There was no manufacturing as well as trading activity carried down during the year, hence not applicable,

5. EMPLOYEES BENEFITS UNDER THE COMPANIES (ACCOUNTING STANDARDS) RULES. 2006 : As per revised AS-15, there is no present obligation of any post employment benefit including payment of gratuity during the year. Therefore no actuarial gains or loss arose at the end of the year.