| The Previous year figuers have been regrouped / reclassified, wherever
necessary to conform to the Current year presentation.
1.1 SBI Term Loan of Rs.2.50 Crores is secured by first charge basis on
ail the movable & immovable properties such as Land & Building, Plant &
Machinery and other Fixed Assets, both present and future, corporate
guarantee of promoters companies and personal guarantee of Promoter
Directors' of the Company.
1.2 Cash Credit from State Bank of India of Rs.3.02 Crores is secured
by hypothecation of inventories, book debts, personal gurantee of the
Directors of the Company and second charge on fixed assets of the
Company.
1.3 No further interest considered/provided in the books, in view of
NPA in the books of the Banker State Bank of India.
1.4 Unsecured Loan from directors represents interest free loan and no
charge against the movable or immovable assets of the Company.
2.1 During the current financial year no Deferred Tax Libility has been
provided.
3.1 During the current year no provision for income tax has been
provided in the Books of Accounts. As per the caculation according to
the Provisions of Income Tax Act, 1961 there is no liability in respect
of Income Tax.
4. RELATED PARY DISCLUSURES
As per Accounting Standard 18, Issued by The Institute of Chartered
Accountants Of India the disclosure of transactions with the related
parties are given below :
a) Enterprise over which promoters, Key Management Personnel and or
their relatives have significant influence (with whom company had
transactions) : NIL
AS AT 31ST AS AT 31ST
5. CONTINGENT LIABILITIES AND
COMMITMENTS MARCH,2014 MARCH,2013
NIL NIL
A GENERAL INFORMATION
Sun Granite Export Limited is a public limited company incorporated
under the provisions of the Companies Act, 2013. The Company is listed
at Bombay Stock Exchange. The Company is engaged in the business of
manufacturing of polished granite slabs and export & DTA sales to
various national and international clients.
CONTINGENT LIABILITY
CLAIMS AGAINST THE COMPANY NOT ACKNOWLEDGED AS DEBTS
1. CESCO Ltd, has raised bills towards electricity charges during the
year 2005-2006 for Rs 55, 90,984.00. But the Company has accounted for
Rs.
53.09.706.00 with reference to the interim order of the Honorable High
Court of Orissa., vide order no: OJC 10494/96 dated: 27.09.96. However,
the company is contingently liable for the differential amount of Rs.
2, 81,278.00 for 2005-06.
2. Entry Tax matters pending in appeal relating to the year 2000-2001
of Rs. 6,34,307.04
Income Tax matters pending in appeal for 1995-1996 amounting to Rs. 7,
44.945.00
3. OTHER MONEY FOR WHICH THE COMPANY IS CONTIGENTLY LIABLE
i) The company has given counter guarantees to State Bank of India for
providing bank guarantee on Company's behalf for Rs. 4.20 lacs in
favor of Assistant Commissioner, Central Excise, Customs & Service Tax.
ii) Since the loan accounts of State Bank of India are classified as
NPA by the said bank and the case is pending in DRT no provision was
made for interest on said loan for the Current financial year. However
,the company is contingently liable for the interest accrued on SBI
secured loan amounting to Rs.96,74,903 calculated @12% p.a on 806.24
lacs.
1. Sales are exclusive of Excise Duty & Exclusive of Sales Tax.
2. SSI units to which company owes more than rupees one lakhs for more
than 30 days. Small Scale and ancillary industrial undertakings to
which amounts are due have been determine based on the information
available with the company. However there was no amount overdue as on
31st March' 2013.
3. MINING DEVELOPMENT
During the year the Mining Division has not incurred any expenditure
towards mining development.
4. DEFERED TAX
The company is having unabsorbed depreciation of Rs.34.60 lacs up to
F.Y ending 2008-09 for set off as per Income Tax Act. And during F.Y
2008-09 Loss incurred was Rs. 16.48 lacs as per Income Tax Act. Hence
no provision for deferred tax made during the year.
5. PRIOR PERIOD INCOME/EXPENSES
During the year Interest on Security deposit received/ adjusted against
current year Power charges of CESU Rs 253065/- was relating to the year
2004-05,2005-06 & 2006-07.
6. INTEREST AND FINANCIAL CHARGES
Interest and Financial charges includes interest paid on Unsecured loan
of Rs. 23,52,400.45 arranged by the Directors on behalf of the Company.
7. None of the employees were in receipt remuneration or Rs. 1,
25,000/- per month or Rs.15, 00,000/- per annuam.
8. Information pursuant to the provisions of paragraph 3 & 4 of part-
II of Schedule - IV to the Companies Act, 2013.
Previous years figures have been re-arranged/re-grouped wherever
considered necessary.
| 