| 1.a. There are nil number of shares ( Previous year Nil) reserved for
issue under option and contracts/ commitment for the sale of
shares/disinvetment including the terms and amounts.
b. Rights of Shareholders:
c. The company has issued only one class of Equity Shares of the face
value of Rs.1/- each. Each Equity Share is entitled for one vote. In
the event of the liquidation of the company, shareholders will receive
residual assets of the company after paying all the liabilities.
Additional Information:
Working capital loans are also secured by mortagage on leasehold land
along with factory building on Plot No. R-802, TTC Industrial area,
Mahape, New Mumbai and hypothecation of Plant & Machineries and
personal guarantee given by Chairman and Managing Director
2. Segment Information Business Segments:
The Company is engaged in the business of manufacture of Polybutenes.
It is treated as a single segment. Hence no disclosure is required to
be made underAS?17 "Segment Reporting" issued by the Institute of
Chartered Accountants of India.
The geographical segments considered for disclosure are as follows:
* Sales within India includes Sales to Customers located within India
* Sales Outside India includes Sales to customers located outside India
including merchant exporters.
* The carrying amount of segment assets in India and Outside India is
based on geographical location of the respective assets
3. Contingent Liabilities not provided for in respect of:
31-03-2015 31-03-2014
(Rs.) (Rs.)
a) Letter of Credit (LC) issued by the Company's - -
bankers for import of traded goods
(Converted on the foreign exchange conversion
rate prevailing on the date of Balance Sheet)
b) Bank Guarantee issued by the Company's
bankers to suppliers in lieu of earnest
money for tender 17,70,376 62,70,394
c) Claim against the Company not - -
acknowledge as debts
4. Foreign earning and expenditure (Cash/Accruals basis):
Value of imports calculated on CIF basis:
Traded Goods: Rs. Nil /- (P.Y.Rs. Nil)
Earning in foreign currency:
Export Sales on FOB basis: Rs Nil (P.Y. Rs. 6606918/- Nil)
Expenses incurred in foreign currency: Rs. Nil (P.Y. Rs. Nil).
5. Impairment of assets
As on the Balance Sheet date the carrying amounts of the assets net of
accumulated depreciation is not less than the recoverable amount of
those assets. Hence, in the opinion of the management, there is no
provision for impairment loss on the assets of the Company is required
to be made under Accounting Standard?28 (Impairment of Assets) issued
by the ICAI.
6. In the opinion of the Board, All assets other than Fixed Assets and
non-Current Investments have a value on realization in the ordinary
course of business at least equal to the amount at which they are
stated and provision for all known and determined liabilities are
adequate and not in the excess of the amount stated, in the financial
statements.
7. Debtors and Creditors balances of some parties are subject to
confirmation.
8. Sales / Operational income include Excise Duty, & other levies.
9. In the absence of necessary information with the Company, relating
to the registration status of suppliers under the Micro, Small and
Medium Enterprises Development Act, 2006, the information required
under the said Act could not be compiled and disclosed.
10. (I) Names of related parties
Names of related parties where Gujarat Textile SEZ Infrastructure
control exists irrespective of Pvt. Ltd. (Company holding in
whether transactions have taken stake is around 21.74%)
place or not
Names of other related parties 1. New Era Advisors Pvt.
with whom Limited transactions
have taken place during the year
2. Sunciti Financial Services
(P) Limited
3. Avni Energy Solution (P) Limited
4. International Spinning India
(P) Ltd
Associates N.A.
Key Management Personnel Mr. Brijmohan Rathi, Chairman and
Managing Director.
Relatives of key management N.A.
personnel
Enterprises owned or 1. New Era Advisors Pvt. Limited
significantly influenced
by key management personnel or 2. Oxides & Specialties Limited
their relatives
3. Sunciti Financial Services
(P) Limited
4. Mystique Media Limited
5. Avni Energy Solution (P) Limited
6. Gujarat Textile Sez Infrastructure
Pvt. Ltd
7. International Spinning India
(P) Ltd.
The Basic and Diluted earnings per share computed in accordance
withAccounting Standard (AS) 20- "Earnings per share "is same in view
of potential equity shares being anti dilutive.
Salaries, Wages and other Employee benefits include payments made to
staff and workers employed on contract basis.
Loan from Central Bank of India is secured against Mortgage of Land,
Building, Plant & Machinery and Hypothecation of Stocks & Assignment of
Book Debts. In addition to Personal Guarantee of Managing Director of
the Company.
Letter of Credit (LC)/Bank Guarantee (BG) facilities are also secured
with pre- defined percentage of margin by way of fixed deposit with the
respective banks.
11. No forward exchange contracts are outstanding on the balance sheet
dates which are entered to hedge foreign exchange exposures of the
Company.
12. Previous year's figures have been regrouped/ rearranged wherever
necessary to conform to current year presentation. Figures have been
rounded off to the nearest rupee.
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