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II.
A. Related Party with whom transaction have taken place during the year
1 .
Chhotabhai Jethabhai Patel & Co.
(Partnership firm in which directors of
the Company are partner having
significant Influence.)
Enterprises owned or significantly
Influenced by key management
Harshad N. Dalal
personnel or their relatives
Prajay P. Patel
Arvind C. Patel
2.
Ceejay Finance Limited (Company)
B. Transaction with Related Party during the year
Name of related
Relationship
Nature of
Outstanding Balance
Party
Transaction
As on 31* March, 2012
Ceejay Finance
Significant
Inter Corporate
8,45,00,000/-
Limited
nfluence over
Deposit
the Company
Chhotabhai
Significant
Job-work
10,61,72,818/-
Jethabhai Patel &
Influence over
Co
the Firm
A. C. Patel
Director
Remuneration
C. Yr. 9,60,000/-
P. Yr. 8,40,000/-
S. R. Patel
Director
Remuneration
C. Yr. 9,60,000/-
P. Yr. 8,40,000/-
e) TAXES ON INCOME
There is no timing difference between accounting profit and income as per Income-tax
Act as defined in AS-22 "Taxes on Income" issued by ICAL. Hence for the purpose of
transitional provision there is no Current Tax Assets and Current tax liabilities as
defined in AS-22 "Taxes on Income".
) Balance under the main head current liabilities, sundry debtors and loans and
Advances are subject to confirmation by the respective parties.
7) Previous year figures have been regrouped or rearranged wherever necessary to
make them comparable with those of current year.
h) INVESTMENTS
Long Term Investments are stated at cost.
() FINISHED JOB-WORK
Finished Job-work has been valued as per Job-work bill rate (As per previous years
method)
16
Source: https://www.industrydocuments.ucsf.edu/docs/glvj0223

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