Monica Electronics Ltd. के अकाउंट के लिये नोट

Mar 31, 2014

1.1 Contingent Liability not Provided for :-

- Central Excise Duty demand Rs. 101.70 lacs (Previous period Rs. 101.70 lacs) under appeal.

1.2 Balances grouped under Advances received from customers and Advances recoverable are under reconciliation and subject to confirmation from respective parties. The final adjustment, if any, shall be made on reconciliation of the same. The impact, if any, on he loss for the year can not be ascertained at this stage.

1.3 In the opinion of the Board of Directors the aggregate value of current assets, loans and advances on realization in ordinary course of business will not be less than the amount at which these are stated in the balance sheet.

1.4 No amount is due to Micro Enterprise, Small enterprise & Medium enterprise under micro enterprise small enterprise & medium enterprise development act 2006.

1.5 The accounts have been prepared as a going concern inspite of the fact that due to labour problem, the company has closed down its manufacturing operations and its entire net worth has been eroded.

1.6 Information as requir ed by Accounting Standard (AS-18) on "Related Party Disclosure" issued by the Institute of Charter ed Accountant of India is as follows:

Names of related parties & Relationship :

A) Associate Companies:

Onida Credit & Investm ent Limited Saka Limited

Vaka Electronics Private Limited OFL Capital Corporati on Limited Onida Internati onal Limited OFL Securities Limited

B) Key Management Personnel & Relatives :

(i) Mr. B.P. Yadav, Director

(ii) Mr. AmarJeet Singh Director

(iii) Mr. A.K. Dhingra, Director

C) Relative of Key Management - None

D) Enterprises over which any person described in Column A & B is able to exercise significant influence - None

E) Major Shareholder:

Onida Credit and Investm ent Limited

1.7 The company is exclusively engaged in the business of electronic products, which is considered as the only reportable segment referred to in statement on Accounting Standard (AS)-17 for the "Segmental Reporting". The geographical segmentation is not relevant, as there is no export.

1.8 The company has carry forward business loss and expenses allowable on payments available for set off under Income Tax Act, 1961. The company has closed it manufacturing operations and as such, there is uncertainty regarding generation of sufficient future taxable income. In view of this, the deferred tax asset at the end including related credits for the year has not been recognised in the accounts on prudent basis.

1.9 The Company has closed down its manufacturing operations w.e.f 13th May 2002 under section 6W to be read with 6V of U.P. Industrial Dispute Act, 1947. The workers in turn have filed their objection under section 25(o) of Industrial Dispute Act, 1947 with labour/court for which the matter is still sub-judice.

1.10 Information required by Para 5(Viii) of part II of Schedule VI of the Companies Act, 1956…….NIL.

1.11 Previous year figures are regrouped and rearrange wherever necessary.

1.12 Note No. 1 & 2 form an integral part of the Balance Sheet and Profit and Loss Account and are duly authenticated.

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Mar 31, 2013

1.1 Contingent Liability not Provided for :-

- Central Excise Duty demand Rs. 101.70 lacs (Previous period Rs. 101.70 lacs) under appeal.

1.2 Balances grouped under Advances received from customers and Advances recoverable are under reconciliation and subject to confirmation from respective parties. The final adjustment, if, any, shall be made on reconciliation of the same. The impact, if any, on he loss for the year can not be ascertained at this stage.

1.3 In the opinjpn of the Board of Directors the aggregate value of current assets, loans and advances on realization in ordinary course of business will not be less than the amount at which these are stated in the balance sheet.

1.4 No amount is due to Micro Enterprise, Small enterprise & Medium enterprise under micro enterprise small enterprise & medium enterprise development act 2006.

1.5 The accounts have been prepared as a going concern inspite of the fact that due to labour problem, the company has closed down its manufacturing operations and its entire net worth has been eroded.

1.6 Information as required by Accounting Standard (AS-18) on "Related Party Disclosure" issued by the Institute of Chartered Accountant of India is as follows:

Names of related parties & Relationship :

A) Associate Companies:

Onida Credit & Investment Limited OnidaSaka Limited Vaka Electronics Private Limited OFL Capital Corporation Limited Onida International Limited OFL Securities Limited

B) Key Management Personnel & Relatives:

(i) Mr. B.P. Yadav, Director

(ii) Mr. AmarJeet Singh Director

(iii) Mr. A.K. Dhingra, Director

C) Relative of Key Management - None

D) Enterprises over which any person described in Column A & B is able to exercise significant influence - None

E) Major Shareholder:

Onida Credit and Investment Limited

1.7 The company is exclusively engaged in the business of electronic products, which is considered as the only reportable segment referred to in statement on Accounting Standard (AS)-17 for the "Segmental Reporting". The geographical segmentation is not relevant, as there is no export.

1.8 The company has carry forward business loss and expenses allowable on payments available for set off under Income Tax Act, 1961. The company has closed it manufacturing operations and as such, there is uncertainty regarding generation of sufficient future taxable income. In view of this, the deferred tax asset at the end including related credits for the year has not been recognised in the accounts on prudent basis.

1.9 The Company has closed down its manufacturing operations w.e.f 13th May 2002 under section 6W to be read with 6V of U.R Industrial Dispute Act, 1947. The workers in turn have filed their objection under section 25(o) of Industrial Dispute Act, 1947 with labour/court for which the matter is still sub-judice.

1.10 Information required by Para 5(Viii) of part II of Schedule VI of the Companies Act, 1956.......NIL.

1.11 Previous year figures are regrouped and rearrange wherever necessary.

1.12 Note No. 1 & 2 form an integral part of the Balance Sheet and Profit and Loss Account and are duly authenticated.

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Mar 31, 2012

(a) The company had filed a petition u/s 391 in the Delhi High Court for sanction of Scheme of Arrangement with debenture holders. The Delhi High Court vide its order dated 14.12.2004 approved the said scheme of Arrangement. The company paid off to all the debenture holders as per the terms of Scheme by depositing the outstanding amount in a no lien account with ICICI Bank Ltd., and out of total payment a sum of Rs. Nil/- (Previous Year Rs. 18.58 lacs) has not been encashed by the debenture holders till date.

(b) During the year The Company has Transfer remaining unpaid balance of matured debetures amounting to 17,85,750 to Investor education and protection fund as per section 205C of Companies act, 1956.

(a) Onida Finance Limited (OFL) has been wound up by High Court on 23.1.2004 under the provisions of Companies Act, 1956. OFL is under liquidation and there is no chance of any recovery out of the Investment in 12,50,000 equity shares of the said Company. The Company has made full provision in this regard.

(a) Advances Recoverable includes Rs. 216.19 lacs (Previous period Rs. 216.19 lacs) from corporate companies for which no provision has been made as the confirmation of balances from the parties are on record. However, as per analysis of their net worth, based on the financial statements available, the recovery of the amount is doubtful.

(b) Other loans and advances include a sum of Rs. 3 lacs (Previous year Rs. 6 lacs) being fixed deposits with banks held in the names of ex-employees of the company and are pledged with District Court, New Delhi. Interest accrued on above has not been provided in view of uncertainty regarding its realisation.

(a) The Interest income includes Rs. 1.90 (Nil) lacs interest earned in previous years on Fixed deposits which was realised during the year. Earlier, these FD''s were held in the names of ex-employees of the company and are pledged with District Court, New Delhi. In previous year, Interest accrued on above has not been recognized in view of uncertainty regarding its realisation.

1.1 Contingent Liability not Provided for

- Central Excise Duty demand Rs. 101.70 lacs (Previous period 101.70 lacs) under appeal.

1.2 Balances grouped under Advances received from customers and Advances recoverable are under reconciliation and subject to confirmation from respective parties. The final adjustment, if any, shall be made on reconciliation of the same. The impact, if any, on he loss for the year can not be ascertained at this stage.

1.3 In the opinion of the Board of Directors the aggregate value of current assets, loans and advances on realization in ordinary course of business will not be less than the amount at which these are stated in the balance sheet.

1.4 No amount is due to Micro Enterprise, Small enterprise & Medium enterprise under micro enterprise small enterprise & medium enterprise development act 2006.

1.5 The accounts have been prepared as a going concern inspite of the fact that due to labour problem, the company has closed down its manufacturing operations and its entire net worth has been eroded.

1.6 Information as required by Accounting Standard (AS-18) on "Related Party Disclosure" issued by the Institute of Chartered Accountant of India is as follows:

Names of related parties & Relationship :

A) Associate Companies:

Onida Credit & Investment Limited

Onida Saka Limited

Vaka Electronics Private Limited

OFL Capital Corporation Limited

Onida International Limited

OFL Securities Limited

B) Key Management Personnel & Relatives :

(i) Mr. B.P. Yadav, Director

(ii) Mr. AmarJeet Singh Director

(iii) Mr. S.K. Shukla, Director

C) Relative of Key Management - None

D) Enterprises over which any person described in Column A & B is able to exercise significant influence - None

E) Major Shareholder:

Onida Credit and Investment Limited

1.7 The company is exclusively engaged in the business of electronic products, which is considered as the only reportable segment referred to in statement on Accounting Standard (AS)-17 for the "Segmental Reporting". The geographical segmentation is not relevant, as there is no export.

1.8 The company has carry forward business loss and expenses allowable on payments available for set off under Income Tax Act, 1961. The company has closed it manufacturing operations and as such, there is uncertainty regarding generation of sufficient future taxable income. In view of this, the deferred tax asset at the end including related credits for the year has not been recognised in the accounts on prudent basis.

1.9 The Company has closed down its manufacturing operations w.e.f 13th May 2002 under section 6W to be read with 6V of U.P. Industrial Dispute Act, 1947. The workers in turn have filed their objection under section 25(o) of Industrial Dispute Act, 1947 with labour/court for which the matter is still sub-judice.

1.10 Information required by Para 5(Viii) of part II of Schedule VI of the Companies Act, 1956.......NIL.

1.11 Previous year figures are regrouped and rearrange wherever necessary as per revised schedule VI of the Companies Act,1956 which is issued by The Ministry of Corporate Affairs wide notification no. S.O. 447(e), dated 28-2-2011. Schedule VI of the Act provides the manner in which every company registered under the Act shall prepare its Balance Sheet, Statement of Profit and Loss and notes thereto.

1.12 Note No. 1 & 2 form an integral part of the Balance Sheet and Profit and Loss Account and are duly authenticated.

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Mar 31, 2011

1 CONTINGENT LIABILITIES IN RESPECT OF :

Central Excise Duty demand Rs.101.70 lacs (Previous period Rs 101.70 lacs) under appeal.

1. Balances grouped under Advances received from customers and Advances recoverable are under reconciliation and subject to confirmation from respective parties. The final adjustment, if any, shall be made on reconciliation of the same. The impact, if any, on he loss for the year can not be ascertained at this stage.

2. LIABILITIES AND ASSETS

In the opinion of the Board of Directors the aggregate value of current assets, loans and advances on realization in ordinary course of business will not be less than the amount at which these are stated in the balance sheet.

3. SECURED LOANS

The company had filed a petition u/s 391 in the Delhi High Court for sanction of Scheme of Arrangement with debenture holders. The Delhi High Court vide its order dated 14.12.2004 approved the said scheme of Arrangement. The company paid off to all the debenture holders as per the terms of Scheme by depositing the outstanding amount in a no lien account with ICICI Bank Ltd., and out of total payment a sum of Rs.18.58 lacs has not been encased by the debenture holders till date.

4. BANK BALANCES

Balance with scheduled bank in a current account amounting to Rs.18.58 lacs is under lien (Previous period Rs. 18.58 lacs) and represents amount payable to debenture holders against High Court Orders.

5. INVESTMENT

Investment includes 12,50,000 equity shares of Oneida Finance Limited (OFL) value Rs. Nil. The said company (OFL) has been wound up by High Court on 23.1.2004 under the provisions of Companies Act, 1956.OFL is under liquidation and there is no chance of any recovery out of said Investment in OFL. The company has made a full provision in this regard.

6. SUNDRY CREDITORS DUE TO SMALL SCALE INDUSTRIAL UNITS

No amount is due to Micro Enterprise, Small enterprise & Medium enterprise under micro enterprise small enterprise & medium enterprise development act 2006.

7. Advances recover able include a sum of Rs.6 lacs (Previous year Rs.9 lacs) being fixed deposits with banks held in the names of ex-employees of the company and are pledged with District Court, New Delhi. Interest accrued on above has not been provided in view of uncertainty regarding its realisation.

8. RELATED PARTY DISCLOSURES

Information as required by Accounting Standar d (AS-18) on “Related Party Disclosure" issued by the Institute of Chartered Account ant of India is as follows:

Names of related parties & Relationship :

A. Associate Companies:

Onida Credit & Investment Limited

Oneida Saka Limited

Vaka Electronics Private Limited

OFL Capital Corporation Limited

Onida International Limited

OFL Securities Limited

B. Key Managem ent Personnel & Relatives : (i) Mr. B.P. Yadav, Director

(ii) Mr. AmarJeet Singh Director

(iii) Mr. S.K. Shukl a, Director

C. Relative of Key Managem ent - None

D. Enterprises over which any person described in Column A & B is able to exercise significant influence - None

E. Major Sharehol der:

Onida Credit and Investment Limited

9. SEGMENT REPORTING

The company is exclusively engaged in the business of electronic products, which is considered as the only reportable segment referred to in statement on Accounting Standard (AS)-17 for the “Segmental Reporting". The geographical segmentation is not relevant, as there is no export.

10. DEFERRED TAX

The company has carry forward business loss and expenses allowable on payments available for set off under Income Tax Act, 1961. The company has closed it manufacturing operations and as such, there is uncertainty regarding generation of sufficient future taxable income. In view of this, the deferred tax asset at the end including related credits for the year has not been recognised in the accounts on prudent basis.

11. ACCOUNTING AS GOING CONCERN

The account s have been prepared as a going concer n inspite of the fact that due to labour problem, the company has closed down its manufacturing operations and its entire net worth has been eroded.

12. PROVISION FOR DOUBTFUL DEBTS & ADVANCES

Advances recoverable include an amount of Rs.216.19 lacs (Previous period Rs.216.19 lacs) from corporate companies for which no provision has been made as the confirmation of balances from the parties are on record. However, as per analysis of their net worth, based on the financial statements available, the recovery of the amount is doubtful.

13. LIABILITY AGAINST INDUSTRIAL DISPUTE

The Company has closed down its manufacturing operations w.e.f 13th May 2002 under section 6W to be read with 6V of U.P. Industrial Dispute Act, 1947. The workers in turn have filed their objection under section 25(o) of Industrial Dispute Act, 1947 with labour/court for which the matter is still sub-judice.

14. PREVIOUS PERIOD FIGURES

Figures in brackets are in respect of the previous year, which have been regrouped and rearranged wherever considered necessary (D) (Figures in brackets are for the previous year. Figures in para (a) to (c) above have been given by the management and relied upon by the Auditors) Schedules (1) to (10) form integral part of the accounts and have been duly authenticated.

Note :

The proxy in order to be effective should be duly stamped, completed and signed and must be deposited at the

Registered Office of the Company not less than 48 hours before the time for holding the aforesaid meeting. The Proxy need not be a member of the company.

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Mar 31, 2010

1. CONTINGENT LIABILITIES IN RESPECTOF:

Central Excise Duty demand Rs. 101.70 lacs (Previous period Rs 101.70 lacs) -under appeal.

1. Balances grouped under Advances received from customers and Advances recoverable are under reconciliation and subject to confirmation from respective parties. The final adjustment, if any, shall be made on reconciliation of the same. The impact, if any, on the loss for the year can not be ascertained at this stage.

2. LIABILITIES AND ASSETS

In the opinion of the Board of Directors the aggregate value of current assets, loans and advances on realisation in ordinary course of business will not be less than the amount at which these are stated in the balance sheet.

3. SECURED LOANS

The company had filed a petition u/s 391 in the Delhi High Court for sanction of Scheme of Arrangement with debenture holders. The Delhi High Court vide its order dated 1.4.12.2004 approved the said scheme of Arrangement. The company paid off to all the debenture holders as per the terms of Scheme by depositing the outstanding amount in a no lien account with ICICI Bank Ltd., and out of total payment a sum of Rs. 18-58 lacs has not been encashed by the debenture holders till date.

4. BANK BALANCES

Balance with scheduled bank in a current account amounting to Rs. 18.58 lacs is under lien (Previous period Rs. 18.58 lacs) and represents amount payable to debenture holders against High Court Orders.

5. INVESTMENT

Investment includes 12,50,000 equity shares of Onida Finance Limited (OFL) value Rs. Nil. The said company (OFL) has been wound up by High Court on 23.1.2004 under the provisions of Companies Act, 1956.0FL is under liquidation and there is no chance of any recovery out of said Investment in OFL. The company has made a full provision in this regard.

6. SUNDRY CREDITORS DUE TO SMALL SCALE INDUSTRIAL UNITS

No amount is due to Micro Enterpt se, Small enterprise & Medium enterprise under micro enterprise small enterprise & medium enterprise development act 2006.

7. Advances recoverable include a sum of Rs.6 lacs (Previous year Rs.9 lacs) being fixed deposits with banks held in the names of ex-emplcyees of the company and are pledged with District Court, New Delhi. Interest accrued on above has not been provided in view of uncertainty regarding its realisation.

8. RELATED PARTY DISCLOSURES

Information as required by Accounting Standard (AS-18) on "Related Party Disclosure" issued by the Institute of Chartered Accountant of India s as follows:

Names of related parties & Relationship:

A. Associate Companies:

Onida Credit & Investment Limited OnidaSaka Limited Vaka Electronics Private Limited ¦ OFLCapital Corporation Limited Onida International Limited OFLSecurities Limited

B.Key Management Personnel & Relatives:

(i) Mr.B.RYadav, Director

(ii) Mr. AmarJeetSingh Director

(iii) Mr.S.K.Shukla, Director

C. Relative of Key Management - None

D. Enterprises over which any person described in Column A & B is able to exercise significant influence- None

E. Major Shareholder:

Onida Credit and Investment Limited

9. SEGMENT REPORTING

The company is exclusively engaged in the business of electronic productshich is considered as the only reportable segment referred to in statement on Accounting Standard (AS)-17 for the "Segmental Reporting". The geographical segmentation is not relevant, as there is no export.

10. DEFERRED TAX

The company has carry forward business loss and expenses allowable on payments available for set off under Income Tax Act, 1961. The company has closed it manufacturing operations and as such, there is uncertainty regarding generation of sufficient future taxable income. In view of this, the deferred tax asset at the end including related credits for the year has not been recognised in the accounts on prudent basis.

11. ACCOUNTING AS GOING CONCERN

The accounts have been prepared as a going concern inspite of the fact that due to labour problem, the company has closed down its manufacturing operations and its entire net worth has been eroded.

12. PROVISION FOR DOUBTFUL DEBTS & ADVANCES

Advances recoverable include an amount of Rs. 216.19 lacs (Previous period Rs. 216.19 lacs) from corporate companies for which no provision has been made as the confirmation of balances from the parties are on record . However, as per analysis of their net worth, based on the financial statements available, the recovery of he amount is doubtful.

13. LIABILITY AGAINST INDUSTRIAL DISPUTE

The Company has closed down its manufacturing operations w.e.f 13,h May 2002 under section 6W to be read with 6V of U.R Industrial Dispute Act, 1947. The workers in turn have filed their objection under. section 25(o) of Industrial Dispute Act, 1947 with labour/court for which the matter is still sub-judice.

14. PREVIOUS PERIOD FIGURES

Figures in brackets are in respect of the previous year, which have been regrouped and rearranged wherever considered necessary

(D) (Figures in brackets are for the previous year. Figures in para (a) to (c) above have been given by the management and relied upon by the Auditors) Schedules (1) to (13) form integral part of the accounts and have been duly authenticated.