| 1. Terms/rights attached to equity shares.
The company has only one class of equity shares having a par value of
Rs. 10 per share. Each holder of equity shares is entitled to one vote
per share.The dividend proposed by the Board of Directors is subject to
the approval of the shareholders except in the case of interim
dividend. In the event of liquidation, the holders of equity shares
will be entitled to receive remaining assets of the company, after
distribution of all preferential amount in proportion of their
shareholding.
2. Packing Credit Limit, Foreign Bill Purchase limit and Cash Credit
limit with Bank of Baroda, Nehru place, Jaipur is collaterally secured
by Equitable mortgage of Company's land & Building at Sitapura
Industrial Area, house situated at K-26, Income Tax Colony, Durgapura,
Jaipur belonging to Mr. J. P. Kanodia, Managing Director, extension of
equitable mortgage of office no.407, 4th floor, Arihant Plaza, Malviya
Nagar, Jaipur, belonging to the relative of a director, Hypothecation
of Plant & Machineries and all present and future fixed assets,
hypothecation of Raw Materials, Work in Progress, Finished Goods,
Stores & packing materials, Book Debts, Pledge of Ware House and other
properties, personal guarntees of Director, bearing interest @11.00%
p.a. (Previous Year 11.00% p.a.) in case of PC & FBP and 13.00% &
11.00% p.a.(Previous Year 13.00% & 11% p.a.) in case of CC limit
3. As per information available with the Company, there are no
suppliers covered under Micro, Small & Medium Enterprises Development
Act,2006. As a result, no interest provision/payment have been made by
the Company to such creditors, if any, and no disclosure thereof is
made in this regard.
NOTE - 4
Previous year figures have also been regrouped and rearranged where
ever considered necessary.
Other Receipts includes rent received of Rs.9,06,500/- (Previous Year
Rs. 6,65,000/-)
The Company has assessed its fixed assets for impairment at the end of
the year and concluded that there has been no significant impaired
fixed assets that needs to be recognised in the books of accounts.
NOTE - 5
During the year, the Company has revised the estimated useful life of
its assets to align with the useful life as provided in Schedule II of
the Companies Act, 2013. The Retained earnings on the balance amount of
Fixed Assets after completion of useful life of the respective fixed
assets in terms of the new provisions of depreciation as per Schedule
II of the Companies Act, 2013 and excess/short charges of depreciation
in earlier years are adjusted from the Surplus of the Profit & Loss
Account.
Miscellaneous Expenses includes a sum of Rs.3,37,733/- (Previous Year
Rs.2,64,802/-) paid for Income Tax and its interests
NOTE - 6
Amount debited in the statement of profit & loss under the head 'Claims
& Deduction of Rs.1,20,138/- and Membership & Subscription of
Rs.76,432.50 are relating to earlier years.(Previous Year Rs.Nil)
NOTE - 7
Balances of some of the advances given and taken and Sundry Debtors &
Creditors are subject to the confirmations from the respective parties.
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